DENTON, TEXAS — NOVUS Realty Advisors principals John St. Clair and Grant Brodeur have completed the trade of a 444-acre tract of land at Lakeview Ranch in Denton. FSA & S Collin County purchased the investment property from owner, Canyon Energy Partners, who was represented by St. Clair, while Brodeur handled the transaction for the buyer.
LORTON, VA. — First Potomac Realty Trust has sold Newington Business Park Center, a seven-building, 256,000-square-foot industrial development in Lorton, roughly 20 miles south of Washington, D.C. An affiliate of Velsor Properties LLC purchased the industrial park for $32.5 million. The sale is part of First Potomac’s disposition strategy to sell at least $200 million of assets to improve the REIT’s balance sheet. HFF represented First Potomac in the transaction. As of Sept. 30, the industrial park was 83.3 percent leased.
COPPELL, TEXAS — ML Realty Partners has arranged four industrial leases in Coppell. Park West Crossing, a recent four-building development, has leased 95,125 square feet to Classic Auto Air Manufacturing, JAS Forwarding (USA), DSBJ Precision Mechanical and JFC International. Park West Crossing is located immediately north of Dallas/Fort Worth International Airport with frontage on Freeport Parkway.
FORT WORTH, TEXAS — Cushman & Wakefield has completed the sale of a 468-acre tract of land along the Chisholm Trail Parkway in southwest Fort Worth. Provident Realty Advisors, a privately held real estate and investment firm, purchased the property, commonly known as the Pate Ranch. The Cushman & Wakefield team of Chris Harden, Tom Salanty, Kyle Vinson and Kristopher Von Hohn represented the seller. The property, located south of Altamesa between Bryant Irvin Road on the west and the $1.4 billion Chisholm Trail Parkway on the east, has over a mile of commercial frontage along the 27.6-mile toll road, which extends from downtown Fort Worth south to Cleburne. The property is located near the Hulen Mall retail district and Texas Health Harris Methodist Hospital Southwest Fort Worth.
SAN DIEGO — Commerce Plaza One has acquired a 32,717-square-foot industrial park in the San Diego submarket of Chula Vista for $5 million. The park is located at 925 Hale Place. It was built in 1987. Tracy and Kimberly Clark of Voit represented the seller, Hudson WP Partners, in this transaction.
LOS ANGELES — EcoSense, an LED technology company, has acquired the assets of Journée Lighting for an undisclosed price. Journée Lighting is a privately owned, California-based lighting company that specializes in the design and development of specification grade lighting and focuses its efforts in the office, retail and hospitality segments. EcoSense and Journée both share similar product development and innovation philosophies. Journée was founded in 2005 by entrepreneur Clayton Alexander. This acquisition allows EcoSense to enter the downlight and track lighting market and leverage Journée’s IP for future product development efforts.
SKOKIE AND MORTON GROVE, ILL. — Transwestern has brokered the sale of a two-building industrial portfolio in metro Chicago for an undisclosed price. The portfolio includes a 209,098-square-foot property located at 6123-6227 Monroe Court in Morton Grove and a 179,201-square-foot building located at 3500 Oakton St. in Skokie. Edler & Company Inc. sold the portfolio to an undisclosed buyer. The property in Morton Grove is comprised of five smaller units and features 28-foot clear heights. Denise Stein Chaimovitz of Transwestern represented the seller.
PLAINFIELD, IND. — JLL is the exclusive leasing entity for two new speculative industrial buildings in Plainfield, a southwestern suburb of Indianapolis. Airwest 12 and Airwest 14 are Class A properties that total 924,530 square feet. The two buildings are located at 2301 and 2201 Reeves Road. Airwest 12 is 448,305 square feet, and Airwest 14 is 476,225 square feet. The facilities feature 48-foot-by-50-foot bays, approximately 50 docks with room for expansion and ample delivery and employee parking. Each building is also divisible by 200,000 square feet. Jake Sturman and Chip Barnes of JLL will represent the owner, Northwestern Mutual.
CENTENNIAL, COLO. — MIG Real Estate has purchased Dry Creek Business Park, a 244,028-square-foot flex business park in Centennial, for an undisclosed sum. The 15-building park is located at 7300-7348 South Alton Way within the Denver Tech Center. The property was 92 percent leased at the time of sale. The area is known for a range of employers, including aerospace and energy companies. This is MIG’s 11th investment in Metro Denver. It also recently purchased Iliff Business Park; two hospitality properties; six multifamily communities; and a flex product that fronts Interstate 225. MIG Real Estate represented itself in the transaction. Brad Calbert and T.J. Smith of Colliers International represented the seller.
WACO, TEXAS — Time Manufacturing, headquartered in Waco since 1968, plans to expand its truck-mounted hydraulic lift manufacturing operations in Waco. Time will invest $5.8 million to expand its facilities by 50,000 square feet at Texas Central Parkway and add 121 jobs during the next four years. The factory manufactures 20 to 25 aerial lifts per day, for a total of 3,500 to 4,000 units a year. The lifts are sold at dealerships throughout the U.S. and in Europe, Latin America and parts of Asia. Time has additional operations in Bethel, Pa. and the United Kingdom.
