NEW JERSEY — QuVa Pharma Inc. has signed an agreement to acquire an FDA-approved biotech pharmaceutical facility near Route 78 in western New Jersey. The 160,000-square-foot facility will enable QuVa Pharma to significantly extend its production capability and capacity to deliver high-quality, ready-to-use compounded sterile drug preparations to hospitals in key markets in the eastern half of the United States. QuVa currently operates two 503B-registered manufacturing facilities in Texas. Terms of the sale, including the name of the seller and acquisition price, were not released.
NAPA, CALIF. — An unnamed buyer has acquired Greenwood Business Center, a 226,044-square-foot distribution warehouse building in Napa, for an undisclosed sum. The Class A warehouse was fully leased to Adams Wine Group. It was built on spec in December 2015. New York Life Real Estate Investors sold the property on behalf of McMorgan Northern California Value Add/Development Fund.
DEER VALLEY, ARIZ. — Griffin Opportunities has purchased 22 acres of industrial land for an undisclosed sum. The parcel is situated on the southeast corner of 23rd Avenue and West Alameda Road in Deer Valley, just north of Phoenix. The land was previously part of a 40-acre nursery. Griffin plans to hold the property for future real estate development. Robert Lundstedt, Trevor McKendry and Chris Rogers of Daum Phoenix represented both the buyer and seller, Arizona Wholesale Nursery of Phoenix, in this transaction.
CHANNAHON, ILL. — IDI Gazeley has broken ground on a 749,554-square-foot speculative industrial building in Channahon, approximately 55 miles southwest of Chicago. The facility is the first of four buildings to be constructed at the Channahon Corporate Center, a 100-acre, master-planned industrial and logistics park that will offer approximately 2 million square feet of space once complete. The first building, located at 23700 W. Bluff Road, is scheduled for completion in the first quarter of 2017. The facility will be expandable to 1.3 million square feet and will include amenities such as 36-foot clear heights, 86 loading docks, 440 parking spaces and 192 trailer spaces.
CHICAGO — Cenveo Corp., a paper products company, has sold two industrial buildings located in Chicago in a sale-leaseback transaction for an undisclosed price. An affiliate of Hackman Capital Partners LLC acquired the facilities, which total 195,436 square feet. The adjacent property consists of a 150,084-square-foot manufacturing facility at 3001 N. Rockwell St. and a 45,351-square-foot warehouse and distribution building at 2950 N. Campbell Ave.
ONTARIO, CALIF. — Majestic Realty Co. has broken ground on a 239,400-square-foot, build-to-suit warehouse and manufacturing/production facility in Ontario. The site, which was the former home of the Sunkist factory, is located at 752 Campus Ave. Melmarc will occupy the property. The screen printing package company will consolidate its multiple Orange County operations and headquarters into this single facility. The building is scheduled for completion and occupancy in early 2017.
HOUSTON — NAI Partners has brokered the purchase of a 15,000-square-foot warehouse facility on two acres within Hardy Industrial Center located at 21430 Spring Bridge Drive in Houston. Michael Keegan of NAI Partners represented the buyer, Spring Bridge Properties LP, during the negotiations. Richard Quarles and Mark Nicholas of JLL represented the seller, Vigavi Realty LP.
DURHAM, N.C. — A joint venture between Trinity Capital Advisors and SilverCap Partners has purchased Research Tri-Center North III and IV, a 272,396-square-foot warehouse and distribution facility located at 2910 and 2710 Weck Drive in Durham. The facility features 25 dock-high doors, 40-foot by 40-foot column spacing, an ESFR sprinkler system and a truck court with trailer parking. Trinity Capital plans to upgrade the facility with new T5 lighting, renovated office space and paved access off Alson Avenue, which will re-orient the property as a rear-loading facility. Bryan Everett of CBRE | Raleigh represented the seller, B F Properties II NC LLC, in the transaction. The joint venture has selected Trinity Partners to manage the property and Everett and Daniel Jackson, also with CBRE | Raleigh, to lease the project.
AUSTIN, TEXAS — Centric Commercial/CORFAC International has represented Daryl Flood Logistics in the lease of 104,146 square feet within Vista Industrial Park at 15833 Long Vista Drive in north Austin. Daryl Flood Logistics leased an entire building from Global Logistics Properties (GLP), which owns numerous buildings in the park. The 2.5 million-square-foot industrial park is located near I-35 and Grand Avenue Parkway. Russell Todd and Andrew Swanson of Centric Commercial/CORFAC International, along with Bob Berry of Avison Young, represented Daryl Flood Logistics in the long- term lease. Daryl Flood Logistics is headquartered in Coppell and maintains service and distribution facilities in Austin, Houston, El Paso, Lubbock and Grand Prairie. The company provides retail, e-commerce, home and technology-oriented logistics, shipping and fulfillment services.
GRAND PRAIRIE, TEXAS — JLL has brokered an 86,100-square-foot industrial lease for Shorr Packaging in Grand Prairie. The packaging solutions company’s new distribution center will be in Wildlife Commerce Park, Building II located at 2250 Lion Country Parkway. This is the company’s first location in Texas. JLL’s Craig Jones and Elizabeth Jones negotiated the lease on behalf of the tenant. Will Mundinger, John Bateman and Drew Tappan internally represented the landlord, Crow Holdings. Shorr Packaging is based in Aurora, Ill., and currently has 15 locations across the United States.