STURTEVANT, WIS. — The Dickman Co. Inc./CORFAC International has brokered the sale of a 14,800-square-foot industrial building in Sturtevant, about 30 miles south of Milwaukee. The building is located at 3012-3014 S. Sylvania Ave. Robert A. Gleason purchased the property from Wayne and Mardell Fuller Trust. Cale Berg, Zach Noble, Samuel M. Dickman Jr. and Samuel D. Dickman of the Dickman Co. brokered the transaction.
SANFORD, FLA. — Cushman & Wakefield has closed the sale of North Park Commerce Center, a two-building, 117,600-square-foot distribution campus located at 3800 and 3830 Enterprise Way in Sanford, a northern suburb of Orlando. Mike Davis, Michael Lerner and Rick Brugge of Cushman & Wakefield represented the seller, Atlanta-based McDonald Development Co., in the transaction. Boston-based Cabot Properties acquired the Class A property, which was 90 percent leased at the time of sale, for $10.4 million.
PLANO, TEXAS — Citadel Partners LLC, a Dallas-based real estate consulting firm, has negotiated an 82,800-square-foot lease renewal at a flex facility located at 3501 E. Plano Parkway. Scott Jessen, Andy Goldston and Mac Morse of Citadel Partners represented the tenant, UNICOM Engineering, in the transaction. Brett Lewis and George Tanghongs of Lee & Associates represented the unspecified landlord.
DAVENPORT, IOWA — Binswanger has arranged the sale of a nearly 160-acre land site in Davenport for an undisclosed price. Sterilite Corp. purchased the land from the Greater Davenport Redevelopment Corp. Sterilite, a manufacturer of plastic storage containers, plans to build a new manufacturing and distribution center on the site. The center, slated to open in early 2018, will employ approximately 500 employees. As part of the transaction, the Scott County Board of Supervisors and the City of Davenport will provide a multimillion-dollar incentive package for moving to the Quad Cities. Tim O’Callaghan and Larry Spinelli of Binswanger arranged the sale on behalf of Sterilite. The team also helped negotiate the incentive package.
PLAINFIELD, IND. — HSA Commercial, in a joint venture partnership with Great Point Investors, has begun development of a 151,220-square-foot speculative industrial building in Plainfield, a southwest suburb of Indianapolis. Gateway Industrial IV is currently under construction, with delivery scheduled for this June. It will be the fifth and final building developed by HSA Commercial in the 40-acre Gateway Business Park. The PrivateBank provided the project financing. HSA Commercial and Great Point Investors previously partnered on the development of Gateway Industrial III, an adjacent 220,000-square-foot building that was completed in 2015 and is now fully leased. When complete, Gateway Industrial IV will feature 30-foot clear heights, 16 expandable truck docks, four drive-in doors and parking for 156 vehicles. The development is located just west of the Indianapolis International Airport and is designed to accommodate users as small as 25,000 square feet. John Hanley, Terry Busch and Jared Scaringe of CBRE are handling leasing for Gateway Industrial IV. Fishers, Ind.-based Meyer Najem is the general contractor for the project. West Lafayette, Ind.-based KJG Architecture designed the building.
DESOTO COUNTY, MISS. — Atlanta-based Core5 Industrial Partners has acquired a 173-acre land site to develop DeSoto 55 Logistics Center, a 2.5 million-square-foot business and logistics park in DeSoto County, located just across the state border from Memphis, Tenn. Anticipated development costs will exceed $125 million, according to a news release from the developer. Core5 will immediately begin construction on two speculative buildings of office and warehouse space totaling 883,720 square feet. Both buildings are planned for delivery this fall. The 582,400-square-foot Building A is expandable up to 1.5 million square feet and will offer 36-foot clear heights, 98 trailer storage spaces and 342 car parking spaces. Building B, totaling 301,320 square feet, will feature 32-foot clear heights, 80 trailer storage spaces and 270 auto spaces. Located at U.S. Highway 51, the park will offer close proximity to the I-55 transportation corridor. Upon planned completion by the end of 2019, DeSoto 55 Logistics Center will accommodate over 2.5 million square feet in up to five separate buildings. The acquisition marks Core5’s entry into the greater Memphis market. “After an extensive review of potential development sites and interviews with local employers, it was clear that the location of DeSoto 55 Logistics …
FRANKLIN PARK, ILL. — Clarius Partners LLC has unveiled plans for a 99,000-square-foot industrial building in Franklin Park, approximately 18 miles northwest of Chicago. The 6.2-acre property is located at 9300 King Ave. A joint venture between Clarius Partners and Wanxiang America Real Estate Group LLC purchased the site earlier this month. An existing 154,800-square-foot building will be demolished in order to construct the new speculative facility, which is scheduled for completion by the end of the year. The facility will feature 32-foot clear heights, 10 exterior docks, four drive-in doors and office space. Thomas Gath, Adam Marshall and Mark Deady of Newmark Grubb Knight Frank will market and pre-lease the property.
BOLINGBROOK, ILL. — XPO Last Mile and Vision Works have renewed and expanded their industrial leases at One Gateway Court in Bolingbrook. The space was vacated by a previous tenant, then divided and split between the two current tenants to accommodate both expansions. Keeley Construction is providing construction services for the private owner. Russell Perry Real Estate represented XPO Last Mile in the renewal and expansion of 96,350 square feet, while KW Commercial represented Vision Works in the renewal and expansion of 94,500 square feet. David Prioletti of CBRE represented the landlord in the transaction.
FAIRFIELD, N.J. — Saddleback Real Estate Developers has acquired two industrial properties in Fairfield. The first is a 22,000-square-foot asset at 22 Audrey Place, which is 100 percent occupied. The second is a 13,430-square-foot property located at 341 Kaplan Dr., which is scheduled for a renovation.
WINTER HAVEN, FLA. — Beasley Real Estate Services has completed the sale of Central Florida Business Park, a 775,864-square-foot industrial property located at 5300 Recker Highway in the Orlando suburb of Winter Haven. Situated on 52 acres, the property spans nine buildings ranging in size from 2,400 square feet to 297,000 square feet. Fred Beasley of Beasley Real Estate represented the seller, Legacy Capital Partners, a private equity investor based in Boulder, Colo., in the transaction. George Pjevach of Beasley procured the buyer, IS-CAN CFBP LO, a Montreal-based company. The buildings were 86 percent occupied at the time of sale.
