MILWAUKEE — The Dickman Co. Inc./CORFAC International has arranged the sale of a 117,600-square-foot industrial building in Milwuakee. The sales price was not disclosed. The property is located at 8200 N. Faulkner Road. Roger B. Siegel, Samuel M. Dickman Jr. and Samuel D. Dickman of the Dickman Co. brokered the transaction on behalf of the buyer, Faulkner Road LLC, and the seller, Faulkner Road Property LLC.
ELK GROVE VILLAGE, ILL. — Continental Bindery Corp. has purchased a new headquarters facility in Elk Grove Village for an undisclosed price. The binding firm sold its current headquarters, located at 700 Fargo Ave., and purchased a 29,856-square-foot industrial facility at 1250 Pratt Blvd. Brian Carroll and Tom Gath of Newmark Knight Frank (NKF) represented Continental Bindery in both transactions. Adam Marshall of NKF represented the Pratt Boulevard property seller, which was an affiliate of Midwest Industrial Funds. The Village of Elk Grove, represented by Chris Nelson of Lee & Associates, purchased Continental Bindery’s previous 51,412-square-foot headquarters. The city will demolish the property and construct a new fire station and training center in its place. Continental Bindery will begin occupying the new headquarters this fall.
IRVING, TEXAS — Lee & Associates has arranged the sale of a 40,250-square-foot industrial building located at 2109 Vanco Drive in Irving. Corbin Blount and Adam Graham of Lee & Associates represented the seller, Premier Technical Plastics, a manufacturing of petrochemicals with offices in Texas and Arkansas. The buyer and sales price were not disclosed.
CLUTE, TEXAS — Marcus & Millichap has brokered the sale of Clute Affordable Storage, a 452-unit self-storage facility located at 508 E. Main St. in Clute, a Gulf Coast-area city approximately 50 miles south of Houston. Nicholas Ling of Marcus & Millichap represented the seller, an undisclosed partnership, in the transaction. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the buyer, a limited liability company. Other terms of sale were not released.
DALLAS — A partnership between Boston-based Cabot Properties Inc and Stream Realty Partners has broken ground on International Logistics Center, a 646,796-square-foot industrial asset located near the Dallas-Fort Worth International Airport. The property consists of three buildings: a 118,634-square-foot rear-load building, a 203,476-square-foot front-load building and a 324, 686-square-foot cross-dock building. International Logistics Center also offers access to State Highways 360 and 183. A timetable for completion has not yet been established
RICHARDSON, TEXAS — Colliers International has closed the sale of an 83,140-square-foot office/warehouse property located at 1501 Plano Road in Richardson. Lizzy Blake of Colliers represented the seller, Addison-based investment firm Silver Tree Partners, and procured the buyer, Prattco Creekway Industrial. The property was 60 percent leased at the time of sale.
MONTGOMERY, N.Y. — GJT REIT has purchased an industrial building located at 201 Neelytown Road in Montgomery for an undisclosed price. Situated on 43 acres, the 248,370-square-foot distribution facility is leased to FedEx Ground on a 10-year term. GTJ REIT now owns 49 properties, totaling approximately 6 million square feet, in the Tri-State area. The name of the seller was not released.
NEWBURYPORT, MASS. — Valencia Realty Capital has arranged $4.5 million in acquisition financing for a cold-storage warehouse facility in Newburyport. The financing covers nearly 100 percent of the acquisition cost. The undisclosed borrower acquired the vacant 89,000-square-foot facility, located at 2 Opportunity Way, from a national REIT. Built in 1994 and expanded in 2008, the property features 26-foot clearance heights and approximately 14 percent of the building is office space. Stephen Smeke of Valencia secured the financing from a commercial lender for the borrower.
LINDEN, N.J. — Colliers International has arranged a 181,000-square-foot industrial lease for ASA Apple in Linden. The transportation and logistics solutions company has signed a long-term lease for the industrial building located at 55 Wildcat Drive. ASA Apple is a public warehouse and intermodal transportation company operating in the Port of New York region. Richard Mirliss, Richard Madison and Alex Vitro of Colliers represented ASA Apple, while Tom Monahan of CBRE represented the property owner, Prologis.
JACKSON, GA. — Liberty Property Trust has unveiled plans to develop Liberty Commerce Center, an 840,000-square-foot distribution center in Jackson, roughly 35 miles south of Hartsfield-Jackson Atlanta International Airport. The developer purchased the 80-acre site at the corner of Windy Lane and Midway Road in May. Upon completion, the building will feature 40-foot clear-heights, 56- by 51-foot column spacing, 161 dock doors, a 70-foot speed bay, ESFR sprinkler systems, a truck court with 175 spaces and 445 parking spaces. In addition, the building will be designed to meet LEED and Energy Star certification. Future tenants can use the remaining land to either develop a second 240,000-square-foot rear-load building with car parking, build a 266-spot trailer parking area with storage or develop an up to 1,070-space car parking area with storage.
