MILWAUKEE — The Dickman Co. Inc./CORFAC International has negotiated the sale of a 28,050-square-foot industrial building in Milwaukee. The facility is located at 7528 N. Teutonia Ave. Olympic Supply Co., a distributor of bicycle parts and accessories, purchased the building from Delores Kramer Trust. Nick Keys, Roger Siegel and Zach Hansen of the Dickman Co. brokered the transaction.
PAINESVILLE, OHIO — Marcus & Millichap has brokered the sale of Painesville Mini-Storage in Painesville, about 30 miles northeast of Cleveland, for $1.2 million. The 48,240-square-foot facility is located at 649 Hoyt St. The 162 storage units range in size from 100 to 3,600 square feet. The facility has an on-site manager’s office, perimeter fencing, electric gage and concrete drives throughout. Brett R. Hatcher of Marcus & Millichap marketed the property on behalf of the buyer and seller, both limited liability companies.
CHARLOTTE, N.C. — Trinity Capital Advisors has purchased 1001 Bond St., a two-building industrial property totaling 404,351 square feet in Charlotte’s Northwest industrial submarket. Trinity Capital acquired the property in a joint venture with SilverCap Partners for an undisclosed price. Both buildings are fully leased to Camber Ridge, a tire characterization research and development company. The properties are situated off of I-85 and feature direct access to I-485, I-77 and Charlotte Douglas International Airport via NC Highway 16.
COPPELL, TEXAS — BFS Services Inc. has renewed its lease for 167,820 square feet of industrial space at 500 Airline Drive in Coppell. Reed Parker of Lee & Associates Dallas/Fort Worth represented the tenant, while Tom Irish provided in-house representation for the landlord, Transpacific Development Co., in the deal.
READVILLE, MASS. — CBRE/New England has arranged $11 million in acquisition and capital improvement financing for Boston Business Park – Building 200, a 205,061-square-foot industrial building located at 100 Meadow Road in Readville. John Kelly, Kyle Juszczyszyn, Chris Coutts and Lenny Pierce of CBRE/NE secured the financing for the borrower, a joint venture between Wallace Property and GFI Partners. Boston Business Park is the future home to M.S. Walker, ABEX Transportation and Katsiroubas Bros. Current tenants include HD Supply, The Ride, Gentle Giant Moving and MFI Tire Wholesale.
LOS ANGELES — Industrial Property Trust (IPT) has purchased a 104,335-square-foot industrial facility in an unincorporated area of Los Angeles for $12 million. The facility is located at 18554 S. Susana Road. IPT plans to carry out a $2 million renovation before offering the property for lease. Michael Collins of Daum Commercial Real Estate represented IPT in the deal. Robert Colacion of Gateway Business Properties represented the seller, the Ahmadinia Family Trust.
STAMFORD, CONN. — J. Philip Commercial Group Brokerage has arranged the sale of an industrial building located at 184 Selleck St. in Stamford. Dr. Philip Putter of Spot On Veterinary acquired the building from Tom Anderson and John Savage of Hathaway, Reiser & Raymond for $2.3 million. The buyer will use the 16,000-square-foot building for his Spot On Veterinary practice. Fritz Chery of J. Philip Commercial represented the seller and buyer in the deal.
LITHIA SPRINGS, GA. — Z Gallerie, a Los Angeles-based furniture retailer, plans to open a 225,000-square-foot warehouse within Skyview Business Center in Lithia Springs, about 18 miles west of Atlanta via Interstate 20. The property will house the home furnishings retailer’s East Coast presence, as the company currently supports all 68 of its stores and online orders from one warehouse on the West Coast. Z Gallerie operates two stores in the Atlanta area: Atlantic Station and Perimeter Mall. The facility will feature office and warehouse space, 34 loading docks, two drive-in bays, 32-foot clear heights, an ESFR sprinkler system and T5 lighting. The property represents a $3.7 million investment on behalf of Z Gallerie. The company plans to be fully operational in 2019 and create 115 jobs at the new facility. Steve Grable and Barry Hill of JLL represented Z Gallerie in the lease negotiations. Trey Barry, Todd Barton and Greg Haynes of CBRE represented the landlord, Huntington Industrial Partners.
CHARLOTTE, N.C. — Reger Holdings has purchased a 222,596-square-foot industrial building located at 1000 Exchange St. in Charlotte. The western New York-based investment firm plans to convert the freezer/cooler building into a dry warehouse property. The building is rail-served by CSX and features outdoor storage capabilities. Rob Speir and Don Moss of Colliers International’s Charlotte office brokered the transaction and will be retained as the property’s leasing agents. Reger Holdings owns more than 4 million square feet of industrial real estate space in the Carolinas. The sale price and seller were not released.
DAYTON, MINN. — Spears Manufacturing has signed a 142,000-square-foot industrial lease at the Dayton Distribution Center in Dayton, about 30 miles north of Minneapolis. Spears, a manufacturer of plastic pipefittings and valves, will occupy the space beginning in February. The facility will serve as a new regional distribution center for Spears. Dayton Distribution Center is a new, 247,000-square-foot speculative facility developed by Liberty Property Trust. John Ryden and Jim Bolt of CBRE represented the tenant in the transaction. Matt Oelschlager and Mike Bowen of CBRE represented the landlord, Liberty Property Trust.
