NEW YORK CITY — Ariel Property Advisors has brokered the sale of an industrial property located at 4510 White Plains Road in the Wakefield neighborhood of the Bronx. An undisclosed buyer acquired the two-story building sold for $3.7 million. The 29,029-square-foot building features four curb cuts and entrances. Additionally, the property is zoned M1-1, which allows for manufacturing use. Marko Agbaba, Jason Gold, Victor Sozio and David Khukhashvilli of Ariel Property Advisors represented the undisclosed seller and secured the buyer in the deal.
PISCATAWAY, N.J. — Global Transport Logistics has leased 253,575 square feet of newly constructed warehouse and distribution space at 276 Old New Brunswick Road in Piscataway. The licensed air, ground and ocean freight forwarding company is relocating from Fair Lawn, New Jersey. The move will nearly double the third-party logistics company’s regional warehouse footprint. Noah Balanoff, Chuck Littell and Gregory Healy of Colliers International represented Global Transport, while JLL represented the landlord, Industrial Property Trust, in the transaction.
DENTON, TEXAS — United States Cold Storage (USCS), an operator of frozen food warehouses with 38 facilities across 13 states, will open a $34 million cold storage facility in Denton. According to the Denton Chamber of Commerce, the property will be situated on a 40-acre site on Jim Christal Road and will facilitate the creation of 67 new jobs. USCS recently closed on the land for the site but has not yet released a timeline for construction.
FORT WORTH, TEXAS — Lee & Associates has negotiated a 60,141-square-foot industrial lease at 15000 Grand River Road in Fort Worth, directly south of Dallas-Fort Worth (DFW) International Airport. Tom Walrich and Reed Parker of Lee & Associates represented the landlord, FRAPAG Riverpark DFW LLC, in the lease negotiations. Michael Swaldi and Craig Phelps of JLL represented the tenant, Pratt Corrugated Holdings Inc., an affiliate of packaging manufacturer Pratt Industries.
MCCOOK, ILL. — Holly Hunt Enterprises Inc. has signed a 210,315-square-foot industrial lease in McCook, a western suburb of Chicago. The designer and manufacturer of furniture, lighting products, textiles and leather products will occupy the space at 9450 Sergo Drive. Vern Schultz and Mike Senner of Colliers International represented Holly Hunt Enterprises in the lease transaction. Jason West, Sean Henrick and Larry Goldwasser of Cushman & Wakefield represented ownership, ML Realty Partners.
ROCHESTER, MINN. — Industrial Realty Group LLC (IRG) has acquired IBM’s technology campus in Rochester, about 90 miles southeast of Minneapolis. The price was not disclosed. The campus opened in 1957 and currently spans 490 acres. Its 34 buildings comprise a total of 3.1 million square feet of office, manufacturing, warehouse, data center and lab space. IRG plans to lease back eight of the buildings to IBM and create a multi-tenant, mixed-use campus for the rest of the property. “We have already engaged potential tenants who are interested in locating their operations to this high-tech campus,” says John Mase, CEO of IRG. “We plan to create an environment that encompasses a variety of uses and creates as many jobs as possible.” Rochester’s daily newspaper, The Post Bulletin, reports that the campus housed about 3,200 employees in 2012, when the data was last made available, and that Olmsted County recently valued the property at just under $33 million. The paper also reports that 1 million square feet of space is currently available for lease. IRG is a Los Angeles-based developer and operator of more than 150 commercial developments across eight states. — Taylor Williams
NEW YORK CITY — A joint venture between Keystone Equities and Normandy Real Estate Partners has acquired an industrial building located at 25-11 49th Ave. in the Long Island City neighborhood of Queens. Howard Weinstein and Scott Weinstein, owners of Candid Litho printing, sold the property for $39.1 million. The 109,200-square-foot property is zoned M1-4, which allows for a range of community facility, commercial and light manufacturing uses. The buyer plans to convert the property and utilize the air rights to expand the building to 11 stories spanning 238,000 square feet of creative office space. Jonathan Eshaghian and Jakub Now of Marcus & Millichap represented the seller and procured the buyer in the deal.
LITTLE FERRY, N.J. — Liberty Street Realty has completed the disposition of a vacant warehouse, located at 200 Liberty St. in Little Ferry. Stamford, Conn.-based Hartford Realty Corp. acquired the property for an undisclosed price. The buyer plans to redevelop the site and construct a 15,655-square-foot CVS/pharmacy at the location. Gary Sauerborn of NAI James E. Hanson represented the seller in the transaction.
PHOENIX — ViaWest Group has purchased three buildings at Blackhawk Corporate Center in Phoenix for $34.2 million. The buildings are located at 20401 N. 29th Ave., 2902 and 3010 W. Agua Fria Freeway. The complex was built in 1997 and 1998. Darren Tappen and Peter Beauchamp of Kidder Mathews and Ryan Timpani of Colliers International, the project’s leasing agent, represented both parties in the transaction. The seller was Cohen Equities.
NORTH HOLLYWOOD, CALIF. — Regent Commercial Holdings has acquired a 33,505-square-foot industrial building in North Hollywood for $6.1 million. The building is located at 13401-13431 Saticoy St. The asset is fully leased. The property features units ranging from 1,800 square feet to 8,600 square feet along with gated and open parking. It was built in 1975. Scott Caswell of Lee & Associates-LA North/Ventura represented both the buyer and seller in this transaction.