LAS VEGAS — Harsch Investment Properties has purchased Patrick Airport Center, a 57,838-square-foot industrial property in Las Vegas, for an undisclosed sum. The business park is located at 2900 E. Patrick Lane, on the edge of McCarron International Airport. Joe Leavitt and Chris Lexis of Avison Young represented the undisclosed seller.
MOUNT PROSPECT, ILL. — Avison Young has completed a long-term, 73,000-square-foot lease renewal for Fromm International. The company, which markets supplies to the professional beauty industry, will occupy industrial space at 603 Demster St. in Mount Prospect, approximately 25 miles northwest of Chicago. The facility is located within the Briarwood Business Center, a two-building, 460,000-square-foot complex that is situated on 14 acres. Constructed in 2006, the buildings feature 30-foot clear heights, two drive-in doors each and 196 combined parking spaces. Brett Kroner, Keith Purtiz and Eric Fischer of Avison Young represented Fromm International in the transaction. Tom Rodeno and Matthew Stauber of Colliers International represented the landlord, Clarion Partners.
FORT WORTH, TEXAS — May Group International has renewed a 138,000-square-foot lease at Carter Industrial Park in Fort Worth. The advertising agency has leased two office/warehouses spanning 60,000 square feet and 78,000 square feet at 1200 Forum Way S. since 2013, when it inked a sale-leaseback with Hangover Opportunity Fund LLC. May Sound Crazy is the landlord of record. The 11.5-acre tract is situated off Everman Parkway near I-35 West. The May Group maintains a 10,000-square-foot headquarters in the smaller building. The sister structure is divvied into 500 square feet of office and 77,500 square feet of warehouse space. The complex is also used for design, shipping and warehousing functions. Theron Bryant of Coldwell Banker Commercial Alliance DFW handled negotiations for the lease transaction.
LINCOLN PARK, N.J. — The Stro Companies has acquired an industrial building located at 510 Ryerson Road in Lincoln Park. A New Jersey-based developer sold the 150,000-square-foot property for $9.8 million. The multi-tenant building features 25-foot clear height ceilings and was 66 percent occupied at the time of acquisition.
GLENDALE HEIGHTS, ILL. — Transwestern has brokered the purchase of a 105,000-square-foot industrial property in Glendale Heights, approximately 30 miles west of Chicago. Clear Heights Properties LLC purchased the property from a private investor for an undisclosed amount. This facility is located at 2000 Bloomingdale Road and was constructed in 1980. The buyer plans to upgrade the roof, building exterior and adjacent parking lot. An 8,343-square-foot space within the building is still vacant. Justin Lerner and Joe Karmin of Transwestern represented the buyer in the transaction.
IRVINE, CALIF. — Saint Marina Coptic Church has purchased an 11,500-square-foot industrial property in Irvine for $2.8 million. The property is located at 3 Wrigley, within the Irvine Spectrum. Saint Marina Coptic Church will use the building for its administration operations. The church occupies space in an adjacent building as well. NGKF’s David Kluver represented the seller, Hunter Julian Properties, which was previously the owner-occupier.
DALLAS — Lee & Associates has completed a lease transaction for a 10,500-square-foot industrial space located at 1606 S. Barry Ave. in Dallas. Corbin Blount of Lee & Associates’ Dallas/Fort Worth office represented the tenant, The Dallas Firefighter’s Museum Inc. Josh Barnes of Holt Lunsford Commercial represented the landlord, City Warehouse LP.
HOUSTON — Bellomy & Co. has arranged the sale of Eldridge FM 1960 Storage in Houston. The Class A facility was built in 2008, sits on nearly seven acres and consists of 587 units spanning more than 77,000 square feet. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. listed the facility on behalf of the Houston-based seller. The team also procured the buyer, Extra Space Storage, a publicly traded REIT headquartered in Salt Lake City.
OTSEGO, MINN. — Duke Realty Corp. will construct a 220,000-square-foot industrial facility for Wagner SprayTech Corp. in Otsego, approximately 33 miles northwest of Minneapolis. The building will be situated on 12.3 acres within the Gateway North Business Center. Wagner SprayTech, a company that develops and markets paint sprayers, applicators and decorating products, will use the facility as a warehouse and distribution center. Construction on the building will begin in the second quarter and delivery is slated for the fourth quarter of this year. The build-to-suit asset will feature 5,000 square feet of office space, 36-foot clear heights and has the capability to expand by 50,000 square feet. Wagner will relocate from its existing facility in Brooklyn Center once the new project is complete. Paul Bickford with Colliers International and Fred Hedberg with Paramount Real Estate represented Wagner in the transaction. Dan Swartz with CBRE represented Duke Realty.
BELOIT, WIS. — Hendricks Commercial Properties will develop a 105,000-square-foot speculative industrial building in Beloit, approximately 75 miles southwest of Milwaukee. Situated on 30 acres at the intersection of Willowbrook and State Line roads, the facility will be able to accommodate users 52,000 square feet and larger. The City of Beloit currently owns the land. The facility will feature 32-foot clear heights, 10 dock doors, two drive-in doors and 140-foot truck courts. The property will also have an expansion capacity of 420,000 square feet. The construction is slated to start this spring and be completed by this fall. Angus Young Associates is designing the building. Corporate Contractors Inc. will be the general contractor, and Chase Brieman of CBRE is marketing the development for lease.
