DALLAS — CBRE has arranged the sale of 4895 Mountain Creek, a build-to-suit industrial property in Dallas. LBA Realty, a California-based management company, purchased the asset from the Courtland Development LC, Dallas-based developer for an undisclosed price. Jack Fraker, Jonathan Bryan and Ryan Thornton of CBRE represented the seller in the transaction. Courtland Group built the facility in 2016 for Cummins Inc., an engine and machinery manufacturer
PHOENIX — Young’s Market Company has purchased a 248,900-square-foot refrigerated/cold storage industrial building in Phoenix for $20 million. The building is located at 402 S. 54th Place. It was built in 1999 and renovated in 2003. Andy Markham, Will Strong, Mike Haenel and Phil Haenel of Cushman & Wakefield represented the family-owned wines, spirits and select beverages distributor. The seller was Barley Equites V LLC.
FORREST CITY, ARK. — Shandong Ruyi Technology Group (Ruyi), a textile manufacturer based in China, plans to invest $410 million into the former Sanyo manufacturing facility in Forrest City. The facility will be the company’s first property in North America. Ruyi plans to employ up to 800 people at the plant, with plans to begin renovations in the fourth quarter of this year. The property has been vacant since Sanyo shut down production in 2007. Ruyi will use the facility to take 200,000 tons of Arkansas cotton annually and spin it into yarn for textile use. The company plans to begin operating at the Forrest City plant by mid-2018. The Arkansas Economic Development Commission worked with Ruyi to bring this deal to fruition. Ruyi can earn up to $4 million in grants from the State of Arkansas, depending on the company’s job creation at the plant.
SHEPHERDSVILLE, KY. — Browning Investments has broken ground on a 721,050-square-foot spec industrial facility situated within Velocity 65 Trade Center in Shepherdsville, roughly 20 miles south of Louisville and near the UPS Worldport. The industrial park will ultimately accommodate 4 million square feet on 300 acres and feature interchanges with Interstate 65. Browning Investments plans to deliver the spec facility in August. The developer has selected Phil Charmoli of Cushman & Wakefield | Commercial Kentucky to handle the leasing assignment for the park.
REVERE, MASS. — NAI Hunneman has brokered the $6.3 million sale of 777 N. Shore Road, a 31,950-square-foot office/warehouse building located on Route 1A in Revere. The location will be the new headquarters location for AmQuip, a crane rental company. NAI Hunneman’s Trey Agnew represented the landlord, N.S. Realty Trust, while Steve Clancy of CBRE represented the buyer, Alterra LLC. The property includes a one- and two-story office and warehouse building, with the office component accounting for 25 percent. The warehouse component features 23-foot clear heights and 10 overhead doors.
CHICAGO — LM Commercial has brokered the sale of a 67,305-square-foot industrial building in Chicago’s Montclare neighborhood. The property is located at 2701 N. Normandy Ave. The listing price was $1.5 million, but the final sales price was not disclosed. Martha Winter, Mike Merry and Brian Wabick of LM Commercial brokered the transaction.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has arranged the sale of a 13,718-square-foot industrial building in Milwaukee. The sales price was not disclosed. The property is located at 5711 West Douglas Ave. Samuel M. Dickman Jr., Samuel D. Dickman and Zach Hansen of the Dickman Co. represented the seller, Olympic Supply Co. Brett Deter and Joe Carollo of RFP Commercial represented the buyer, Bellot LLC.
LOS ANGELES — Rideback Ranch LLC has acquired a 20,800-square-foot industrial building in Los Angeles for $7.7 million. The facility is located at 1660 Beverly Blvd. The buyer plans to convert the property into a production campus for its company. John Anthony, Chris Giordano and Chris Steck of Charles Dunn Co. represented the seller, Bev-Union LLC. LS Capital represented the buyer.
SHAKOPEE, MINN. — Meritex has acquired 1080 Park Place, a 299,600-square-foot industrial property in Shakopee, about 25 miles southwest of Minneapolis. The class A property is 100 percent leased to two tenants. The building features 38-foot clear heights, an ESFR sprinkler system and trailer parking with convenient access from Minnesota State Highways 169 and 101. Steve Dorff of Meritex will manage the property. The sales price was not disclosed.
ELK GROVE VILLAGE, ILL. — The Opus Group has completed a new corporate headquarters for MC Machinery Systems Inc. in Elk Grove Village, a northwest suburb of Chicago. The 175,000-square-foot property consists of two buildings located off I-90. The new headquarters features 50,000 square feet of office space, 75,000 square feet of warehouse and storage space and a 50,000-square-foot industrial machinery showroom to showcase the company’s equipment and host customer walkthroughs. MC Machinery Systems, a subsidiary of Mitsubishi Corp., develops, sells and supports seven different types of manufacturing equipment used primarily for metalworking. Opus Design Build was the design-builder, Opus AE Group was the structural engineer of record and Heitman Architects was the architect of record and the design architect.
