HOUSTON — NAI Partners represented Jones McClure Publishing in leasing 6,195 square feet of warehouse space located at 9364 Wallisville Road in Houston. Jones McClure Publishing is the publisher and distributer of O’Connor’s Texas Law Books. Jake Wilkinson of NAI Partners represented the tenant during the lease negotiations, while Holt Lunsford represented the landlord, MacArthur 4500.
DAVENPORT, FLA. — Atlanta-based MDH Partners has purchased 52 acres within Four Corners Business Park, an industrial campus located at the intersection of I-4 and U.S. Route 27 in Davenport, roughly 15 miles southwest of Orlando. MDH plans to develop three spec industrial buildings totaling 793,168 square feet at the site. The first two buildings, a 391,928-square-foot cross-dock building and a 112,580-square-foot rear-load building, are slated to begin construction immediately in time for a June 2016 occupancy. The third building, a 288,660-square-foot rear-load facility, will be ready for a late 2016 occupancy or is available earlier subject to potential build-to-suit opportunities. Lee Morris of Colliers International and Dave Buckner of Buckner Commercial Properties will jointly market the buildings for lease. JLL will provide property management on behalf of MDH.
LOMBARD, ILL. — Lee & Associates has brokered the sale of two industrial warehouse and distribution properties in Lombard, approximately 20 miles west of Chicago. Capital Threshold LLC bought a 19,050-square-foot property from R & R Realty LLC. The property is located at 255 Cortland Ave. Jay Farnam of Lee & Associates represented the seller, and U.S. Asia Group represented the buyer. R & R Realty LLC bought a 40,896-square-foot property from Native Wholesale Inc. The property is located at 1101 N. Lombard Road. Jay Farnam of Lee & Associates represented R & R Realty. Transwestern represented the seller.
ONTARIO, CALIF. — Sares Regis Group (SRG) has purchased 150 acres of land in Ontario for an undisclosed sum. The land is part of the undeveloped, 243-acre Meredith International Centre, which extends nearly a mile along the north side of Interstate 10, between Archibald and Vineyard avenues. SRG plans to develop a 3-million-square-foot industrial distribution campus on the site. Following the initial acquisition, the largest of the site’s seven planned buildings was recently pre-leased to QVC. It will act as the video and e-commerce retailer’s first West Coast distribution hub. QVC’s lease will include 1.5 million square feet. The building will be completed by next July. It will include 30,000 square feet of office and employee cafeteria space. Joe McKay of Lee & Associates represented SRG in the land acquisition and lease. CBRE’s Erik Wanland and Mike Barker represented QVC. Chuck Noble, John Hatzis and Dave Hunsaker of Lee & Associates represented the seller, the Meredith family.
DALLAS — After 12 years with Marcus & Millichap, a team of commercial real estate agents has started its own firm, the Vitorino Group. The team aims to build on its track record of retail investment sales throughout Texas and the Southwest, but will expand its business model to include all facets of a commercial real estate firm. Jason Vitorino leads the company, which opened Sept. 28. Vitorino Group also includes Jared Aubrey, Michael Austry, Adam Gottschalk, Anthony Pucciarello, Bryce Gissler and James Mangum. The Vitorino Group also employs a transaction coordinator, financial analyst, marketing coordinators and research analysts.
GLENVIEW AND NAPERVILLE, Ill. — Lee & Associates has arranged 24,253 square feet of leases in Illinois. Andersen Corp. renewed their lease for 21,847 square feet of industrial space at 2300 Ridge Drive in Glenview, approximately 20 miles northwest of Chicago. Michael Plumb of Lee & Associates represented the landlord who is a private investor. Cushman & Wakefield represented Anderson Corp. Naperville Family Chiropractic has leased 2,406 square feet of retail space in a strip mall that is located at 3027 English Rows Ave. in Naperville, about 20 miles outside of Chicago. Joe Herron of Lee & Associates represented the tenant. Caton Commercial Real Estate represented the landlord.
SAN DIEGO — Westcore Properties has acquired an eight-building industrial portfolio from MetLife for $69.4 million. The properties contain a total of 634,289 square feet throughout four projects in Southern California. The acquisition includes a 300,896-square-foot business park in Buena Park that is leased to tenants like Isuzu Motors and Hochiki America Corp.; a 165,070-square-foot, single-tenant warehouse/distribution building in San Dimas that’s leased to Western Pacific Storage; an 88,323-square-foot, multi-tenant industrial building in Ontario leased to NGOC Hoang Gia LLC and Kelleher Corporation; and an 80,000-square-foot, single-tenant industrial building leased to Spartech Polycom. CBRE’s Darla Longo and Barbara Emmons represented MetLife in the transaction. San Diego-based Westcore Properties now owns more than 2.5 million square feet of commercial space throughout Southern California.
LAS VEGAS — MCA Realty has purchased a four-property industrial portfolio in Las Vegas for an undisclosed sum. The acquisition includes the 58,240-square-foot, two-building Aabacus Industrial Center; a 31,000-square-foot, multi-tenant industrial building in North Las Vegas; a 26,000-square-foot, single-tenant industrial property near McCarran International Airport; and a 21,807-square-foot, single-tenant industrial property that is also near the airport. MCA Realty’s portfolio now includes a total of 14 properties and more than 600,000 square feet of industrial space in Las Vegas.
LA PORTE, TEXAS — Liberty Property Trust has acquired three industrial buildings and 139 acres of additional land in La Porte, a suburb of Houston, for $93 million. The 100 percent leased buildings consist of two rail-served facilities and a cross-dock building totaling 921,196 square feet, and are located in the Port Crossing Commerce Center. The buildings are located in close proximity to both the Bayport container terminals and the Barbour’s Cut terminal at the Port of Houston. Tenants in the park include Anheuser-Busch, Gulf Winds, Ferguson Enterprises and Overland Distribution. Liberty plans to add an additional 2 million square feet of space to Port Crossing Commerce Center. Phase I of development, which could include a 408,000-square-foot cross-dock building and a 105,000-square-foot rear-load building, could commence in 2016.
Lee & Associates Arranges Two Industrial Leases Totaling Approximately 100,000 SF in Elgin, Illinois
ELGIN, ILL. — Lee & Associates has arranged two industrial leases totaling nearly 100,000 square feet in Elgin, approximately 40 miles west of Chicago. Stockbridge Capital Group has leased 50,056 square feet of industrial space to Convenience Concepts Inc. The property is located at Northwest Corporate Park, 2300-2380 Galvin Drive. The lease brings the 219,000-square-foot building to 100 percent occupancy. John Sharpe and Steve Bass of Lee & Associates represented the landlord. John D’Orazio of Colliers International represented the tenant. Stockbridge Capital Group has leased 49,776 square feet of industrial space to PepsiCo Global Real Estate. The property is located at Northwest Business Park VI, 2790 Spectrum Drive. John Sharpe and Steve Bass of Lee & Associates represented the landlord. Ryan Bain of CBRE represented the tenant.