LONG BEACH, CALIF. — Rexford Industrial Realty has purchased a build-to-suit facility at Douglas Park in Long Beach for $30.6 million. The 136,965-square-foot building is occupied by Universal Technical Institute, which signed a 15-year lease. CBRE’s Darla Longo, Barbara Emmons Perrier, Rebecca Perlmutter Finkel and Michael Kendall represented the buyer and seller, Sares Regis Group, in this transaction. CBRE’s John Schumacher, Brian DeRevere and J.B. Green were the local market experts on the deal.
MESQUITE, TEXAS — Monmouth Real Estate Investment Corp. a publicly traded, New Jersey-based investment firm, has acquired a 351,874-square-foot, Class A industrial property in the Dallas-Fort Worth metro of Mesquite for approximately $50.6 million. Situated on 65 acres at 5005 Samuell Blvd., the property is net-leased for 15 years to FedEx Ground Packaging System.
ROMEO, MICH. — R & E Automated Systems has signed a 101,297-square-foot industrial lease in Romeo, about 40 miles north of Detroit. The facility is located at 70701 Powell Road. R & E Automated Systems, which works in automation, engineering and prototypes supporting the aerospace and automotive industries, is expanding to support the growth of its corporate headquarters in Macomb Township, Michigan. Jason Capitani and Joseph E. DePonio of L. Mason Capitani CORFAC International represented the landlord, Four Star Realty LLC, in the lease transaction.
CHICAGO — Essex Realty Group Inc. has negotiated the sale of a vacant timber loft building, once home of Playskool Manufacturing Co.’s Lincoln Logs, for $2.2 million. The property is located at 1750 N. Lawndale Ave. in Chicago. The building features three floors of 15,278 square feet each. The attached warehouse includes an additional 23,380 square feet and office space totals 3,500 square feet. Jim Darrow and Jordan Gottlieb of Essex represented the undisclosed seller, while Brian Mond represented the buyer.
RENO, NEV. — Dermody Properties has completed the first building at LogistiCenterSM, four miles from the California border in western Reno. The 223,619-square-foot building is already fully leased. Dermody plans to develop an additional 803,022 square feet at the center. Building 2 will consist of 182,000 square feet. It is scheduled for completion in September, after which construction of Phase II will commence. CBRE’s Eric Bennett and Gordon Zach is marketing the properties for lease.
FREEHOLD, N.J. — Bussel Realty Corp. has facilitated the sale of Fairfield Industrial Park, a nine-building industrial park located at 912 Route 33 in Freehold. Fairfield Industrial Park LLC acquired the 165,000-square-foot asset for $7.5 million. Jordan Metz and Eduard Skutelsky of Bussel Realty represented the undisclosed seller, while Imperial Real Estate represented the buyer in the deal.
CARTERSVILLE, GA. — Pattillo Industrial Real Estate has completed a 592,600-square-foot build-to-suit industrial warehouse for Zep Inc. in the Atlanta suburb of Cartersville. The company, a manufacturer of maintenance and cleaning solutions, will use the facility for distribution of its product line. The property is located within Cartersville Business Park, an industrial park owned and developed by Pattillo. Ben Stafford was the in-house representation for Pattillo, and Mike Paradoski of Pinnacle CREAS represented Zep in the lease transaction.
NORTHLAKE, ILL. — PREMIER Design + Build Group LLC has completed a 110,439-square-foot addition to an existing freezer facility at a business park in Northlake, about 20 miles west of Chicago. More than 1 million square feet of space is undergoing construction or redevelopment at the park. The freezer facility features 58 truck stalls, a 104-car parking lot and 40 dock doors. The project team included Samantha Skopek and Rip Pogue of PREMIER. Cornerstone Architects LLC provided architectural services, while Structure-Logic provided engineering expertise. Bridge Development Partners LLC was the developer.
BROADVIEW, ILL. — Printing Arts has signed a 46,973-square-foot industrial lease in Broadview, about 12 miles west of Chicago. The printing production and materials storage company will occupy the space at 2105 W. 21st St. Printing Arts is expanding from an adjacent building. Mandy Lewandowski of Darwin Realty represented the landlord, Welbic III Broadview 21 LLC, in the lease transaction.
LOS ANGELES — Rexford Industrial Realty has purchased two industrial assets in Los Angeles for a total of $35.9 million. The first acquisition was 4175 E. Conant St. in the Long Beach area for $30.6 million. The Class A asset is fully leased to a single tenant on a triple-net basis with 13 years remaining on the lease term. The second acquisition was 5421 Argosy Ave. in the Orange County West submarket. It is fully leased as a mission-critical facility. Rexford funded the acquisitions with cash on hand.