ROCHESTER HILLS, MICH. — Lightning Technologies LLC has signed a 27,730-square-foot industrial lease in Rochester Hills, about 25 miles north of Detroit. The manufacturer of polyurea spray coating for shipping pallets will occupy the space at 2700 Bond St. Jay-R Development LLC is the building’s landlord. Larry Schultz of Friedman Integrated Real Estate Solutions represented the tenant in the lease transaction.
LA PORTE. TEXAS — Hines, a global real estate investment firm, has acquired Underwood Distribution Center, a Class A, 2.2 million-square-foot industrial park located at 359 Old Underwood Road in La Porte, approximately 12 miles east of Port Houston. The center consists of five buildings that are 100 percent leased, as well as three development parcels. Hines’ first addition to the property will be a 167,000-square-foot distribution building, which is slated for delivery in the fourth quarter of this year.
MESQUITE, TEXAS — Stream Realty Partners has negotiated a 199,750-square-foot industrial lease renewal and expansion at 1201 Big Town Blvd. in the east Dallas suburb of Mesquite on behalf of CHEP USA, an Atlanta-based logistics solutions company. Cannon Green, Matt Dornak and Ryan Wolcott of Stream Realty represented the landlord, Huntington Industrial Partners, in the lease transaction. Cushman & Wakefield represented the tenant in the deal.
IRVING, TEXAS — CBRE has secured a 228,952-square-foot lease at 951 Valley View Lane in Irving on behalf of international supply chain operator Geodis Logistics LLC. Ann Huntington of CBRE represented Geodis in the lease transaction. The representative of the landlord, Liberty Property LP, was not disclosed.
MEDLEY, FLA. — Newmark Grubb Knight Frank (NGKF) has arranged a long-term lease renewal for 342,750 square feet of industrial space in Medley, a town in Miami-Dade County. The tenant, Bel USA LLC, has used the space within Medley Logistics Park to manufacture and distribute promotional items like coffee mugs and T-shirts since the park opened in 2010. Steve Medwin and Nick Wigoda of NGKF represented the landlord in the $30 million lease renewal. David Albert of CBRE represented the tenant.
PLYMOUTH TOWNSHIP, MICH. — KIRCO/KIRCO MANIX has broken ground on an 80,000-square-foot manufacturing facility in Plymouth Township, about 30 miles west of Detroit. The building, located at 41144 Concept Drive, will be home to Oerlikon Metco Inc. Peter E. Kepic and Peter J. Kepic of Colliers International coordinated the project on behalf of Oerlikon Metco. The Switzerland-based industrial and technology solutions group plans to use this location for producing advanced titanium alloys and high-end thermal spray powders for the automotive, aerospace, agricultural and medical industries. The facility is slated for completion in the spring of 2018.
OAK PARK, MICH. — Soaring Pine Capital has provided a $1.7 million loan for the acquisition of an industrial portfolio in Oak Park, a northern suburb of Detroit. The borrower, Paramount Industrial Machining Inc. (PIMI), used the loan to purchase three industrial buildings formerly owned by Paramount Precision Products Inc. PIMI is a leading supplier of precision component machining for the automotive, industrial, service and aftermarket business segments.
HOUSTON — Prologis Inc. has purchased four Class B distribution warehouses totaling 809,196 square feet in Houston. The four buildings are located within West by Northwest Industrial Park, a 39.6-acre property situated near the intersection of Beltway 8 and U.S. Highway 290 on Houston’s northwest side. Rusty Tamlyn and Trent Agnew of HFF represented the seller, an affiliate of Nuveen Investments, a Chicago-based asset management firm. The sales price was undisclosed.
FLAT ROCK, ROMEO AND WAYNE, MICH. — The Michigan Strategic Fund board has approved performance-based grants and State Essential Services Assessment Exemptions to support Ford Motor Co.’s investment of approximately $2 billion in the automaker’s Flat Rock, Wayne and Romeo assembly plants. As part of the agreement, Ford will create approximately 700 new jobs at its Flat Rock Assembly Plant and approximately 100 new jobs at the Romeo Engine Plant. Ford plans to invest approximately $1 billion at its Flat Rock plant to build a data center and transform the plant into a manufacturing innovation center capable of producing electrified and autonomous vehicles, in addition to the Ford Mustang and Lincoln Continental. Ford expects to begin producing the first of these vehicles in 2020, including an all-new fully electric small SUV engineered to deliver an estimated range of at least 300 miles and its first fully autonomous hybrid vehicle for commercial application. The company will invest $1 billion in its Romeo and Wayne facilities, primarily to support Ford Ranger and Ford Bronco production.
MILWAUKEE — Dakonte Products Group Inc. has signed an 8,734-square-foot industrial lease in Milwaukee. The manufacturer of vinyl products will occupy the space at 6615 West Mill Road. GFG Chicago Industrial ML LLC owns the building. Samuel M. Dickman Jr., Samuel D. Dickman, Zach Hansen and TJ Huenerbein of the Dickman Co. Inc. brokered the transaction.
