HOUSTON — DCT Industrial Trust plans to develop a 222,000-square-foot, Class A distribution facility for logistics firm DHL Supply Chain USA near Port Houston. The publicly traded REIT recently purchased a 13.2-acre site located next to two DCT-owned industrial properties along State Highway 225, both of which are occupied by DHL, for the development. Angler Construction will begin building the facility during the second quarter.
BROOKLYN PARK, MINN. — The Opus Group has signed the first tenants at its 169 Business Center in Brooklyn Park, about 11 miles north of Minneapolis. Staging Concepts and its sister company SC Railing Co. will occupy 65,000 square feet within the 145,800-square-foot industrial development. The building is located at the intersection of 85th and Wyoming avenues, and features 24-foot clear heights and access to U.S. Highway 169. Staging Concepts, which produces portable staging equipment for venues of all sizes, will use the building as an additional facility to the company’s existing headquarters in Minneapolis. SC Railing, which provides railing systems, will use a small portion of the facility to store finished goods and perform a portion of railing fabrication. A joint venture partnership between Opus Development Co. LLC and Founders Properties LLC owns the development. Opus Development was the developer, Opus Design Build was the design-builder and led the tenant improvement work and Opus AE Group served as architect, structural engineer and interior designer. Jason Meyer, Brent Masica and Kris Smeltzer of Cushman & Wakefield | NorthMarq marketed the property for lease. Tim Carlson of Cresa represented Staging Concepts and SC Railing Company in the lease transaction.
WOOSTER, OHIO — Minnesota Ltd. has signed a 9,384-square-foot industrial lease in Wooster, about 35 miles southwest of Akron. The 7.4-acre property is located at 460 W. Henry St. Minnesota Ltd. is the contractor for Kinder Morgan Utopia Pipeline. This is one of several Minnesota Ltd. facilities and laydown yards throughout the area, supporting the 215-mile pipeline of natural gas. Bryce Custer of NAI Spring represented all parties in the lease transaction.
LOXLEY AND BIRMINGHAM, ALA. — Grandbridge Real Estate Capital has arranged three loans totaling $37.4 million for industrial facilities in Alabama. The financing includes a $13.1 million loan for I-10 Business Park, a 977,520-square-foot industrial/bulk warehouse complex in the Mobile suburb of Loxley; a $12.8 million loan for Oxmoor South, a 528,428-square-foot warehouse in Birmingham; and a $11.5 million loan for a 515,000-square-foot distribution center in Birmingham. William Silsbee of Grandbridge arranged all three loans through unnamed life insurance companies.
WALKER, MICH. — Monmouth Real Estate Investment Corp. has acquired a 343,483-square-foot industrial building in Walker, near Grand Rapids, for $32.1 million. The building is situated on 61 acres at 3466 Shippers Drive. The property is net leased to FedEx Ground Packaging System Inc. for 15 years.
BEDFORD, ANDOVER & BILLERICA, MASS. — Avison Young, as buyer representative for Atlantic Management, has arranged the purchase of three office/flex buildings in Massachusetts. Atlantic Management acquired the 211,377-square-foot portfolio from Wheelock-Novaya for $26.5 million. The assets are located at 15 Crosby Dr. in Bedford, 200 Bulfinch Dr. in Andover and 5 Federal St. in Billerica. Tenants at the properties include Ocular Therapeutix and Becton Dickinson. Scott Jamieson of Avison Young worked with Joe Zink and Steve Wyman of Atlantic Management on the buyer’s side, while Wheelock-Novaya was represented by Gary Kamin of Wheelock Street Capital and Scott Tully and Shawn Hawthorne of Novaya Real Estate Ventures.
NEW YORK CITY — Simone Development Companies has brokered a long-term relocation lease for LKQ Hunts Point Auto Parts in New York City. The company is relocating to a different location in the Bronx. Joanna Simone of Simone Development, which owns the property at 1390 Spofford Ave., negotiated the 15-year lease for 73,000 square feet with LKQ Hunts Point Auto Parts. The tenant was previously located at 1480 Sheridan Expressway. The one-story warehouse/distribution building features 26-foot clear ceiling heights, 11 loading docks, three drive-in bays and on-site parking.
IRVINE, CALIF. — Karma Automotive has purchased the 262,463-square-foot Kawasaki USA headquarters in Irvine for $56.2 million. The facility is located at 9950 Jeronimo Road. The luxury hybrid plug-in vehicle manufacturer had previously leased the facility in August 2016. The company plans to add a Branded Experience Center for its new Revero luxury sedan and employee amenities to the facility. Kevin Leonard of Heathwest Realty represented Karma Automotive. CBRE’s Gregg Haly and Jeff Carr represented the seller, Bixby Land Co., in this transaction.
LAKE SUCCESS, N.Y. — Northwell Health has leased 50,000 square feet of office and industrial space at 2500 Marcus Ave. in Lake Success, a property owned by Nassimi Realty. With the lease, the property is 100 percent occupied. Nearby employers include Long Island Jewish Medical Center and North Shore University Hospital. Daniel Brandel of CBRE represented Northwell in the transaction. Northwell Health is one of New York’s largest healthcare providers with 21 hospitals and over 550 outpatient practices. Nassimi Realty is a privately held development and investment company specializing in the redevelopment of existing properties.
GARLAND, TEXAS — Lee & Associates has brokered the sale of two industrial properties totaling 24,420 square feet in the Dallas-Fort Worth metro of Garland. The first property is a 12,000-square-foot building located at 2805 National Drive and the second is a 12,420-square-foot property located at 2901 National Drive. Brett Lewis of Lee & Associates represented the seller, BBI Realty LLC. Additional terms of sale were not released.