FREMONT, CALIF. — LBA Realty has purchased a 177,041-square-foot manufacturing and warehouse distribution building in Fremont for $28.5 million. The facility is located at 5555 Auto Mall Parkway, directly across from Pacific Commons Shopping Center and one block from Interstate 880. Synnex Corp. occupies the space. The seller is Sean Pathiratne, owner of LS Auto Mall. Greig Lagomarsino and Nick Ousman of Colliers International and CBRE’s Brian Matteoni executed the transaction.
NILES, ILL. — Molto Properties has acquired an industrial property in Niles, approximately 15 miles northwest of Chicago, for an undisclosed price. The facility, located at 7720 Lehigh Ave., is situated on eight acres and was built in 1954. MFRI Inc. was the seller. Molto plans to redevelop the existing site into a 136,650-square-foot, Class A distribution center. The property will feature 32-foot clear heights, 150 car parking spaces and 20 dock doors. The redevelopment is slated for completion by the end of the year.
CHICAGO — Brown Commercial Group has brokered the sale of two industrial meat processing facilities totaling 96,330 square feet in Chicago. Bobak Sausage Co., a global manufacturer and distributer of old-world sausages and deli meat, sold the properties for an undisclosed price. The deal includes a 43,382-square-foot building at 5275 S. Archer Ave. and a 52,948-square-foot building at 4630 W. 53rd St. El Cubano Wholesale Meat Inc., a meat packer and distributor that provides meats to restaurants and grocery stores, is the buyer. Dan Brown, Brian Lindgren and Maria McNeil of Brown Commercial represented the seller in the transaction. Ed Wabick, Jimena Sayavedra and Terry Lynch of Paine/Wetzel TCN Worldwide represented the buyer.
For the fifth straight year, the Baltimore industrial market ended the year with a positive net absorption, with improvements continuing in both rental rate growth and overall fundamentals. While not overly robust compared to other areas of the country, such as Ontario, Calif., Atlanta, New Jersey and Central Pennsylvania, the Baltimore market absorbed almost 3 million square feet of industrial space in 2015. This sustained growth trend is attributed to a steady, albeit choppy, stream of demand, sustained levels of new construction activity and falling availability and vacancy markers. Looking at the overall conditions of the market, several factors contribute to the improving fundamentals, the most significant of which is the ongoing, high demand for Class A industrial property, which continues to outpace available supply. The Baltimore market is located in the heart of the I-95 Corridor and can access 34 percent of the U.S. population within a single day’s drive. Additionally, given its location within the Washington/Baltimore metropolis, major retailers have selected Baltimore as a logical location for e-commerce and omni-channel fulfillment centers to distribute to homes. These centers will allow retailers same-day access to the 9 million people in the Baltimore-Washington region. On average, those residing in this …
OKLAHOMA CITY — KBGE, an Austin-based civil engineering firm, has expanded operations beyond Texas, establishing its first out-of-state office in Oklahoma City. Located at 4045 NW. 64th St., Suite 415, the Oklahoma office serves clients throughout the state, providing civil engineering and land-development consulting services. Dean Koleada has been hired to lead the new office. Koleada is an Oklahoma native and long-time friend and colleague of the firm. Koleada is a graduate of the University of Oklahoma and brings more than 16 years of engineering experience to the position, having led the civil engineering effort for numerous types of land development and public infrastructure projects in Oklahoma and Texas. KBGE’s portfolio includes a mix of multifamily, mixed-use, public works, industrial, retail and office development projects. Clients include Transwestern, NLand Surf Park, Cielo Property Group, GroundFloor Development, Ryan Companies, LD&C Development & Construction, Natural Vitality, Rooms To Go, LCS Development and Advance Auto Parts.
WILMINGTON, ILL. — Batory Foods will purchase a 678,000-square-foot industrial property at RidgePort Logistics Center in Wilmington, approximately 60 miles southwest of Chicago, for an undisclosed price. The building is a build-to-suit for Batory Foods and will be situated on 36 acres with the ability to expand an additional 22 acres. Construction on the distribution facility will begin this month, and Batory Foods is expected to begin occupying the space this October. The facility will feature an automatic gate system, an employee walking track and other outdoor amenities. Harris Architects Inc. is providing the architectural services, and Alston Construction is the general contractor. Ridge Development is the project developer. Newmark Grubb Knight Frank (NGKF) represented Batory Foods in the transaction.
RAYNHAM, MASS. — Calare Properties has leased 40,000 square feet of industrial/flex space to OMNIlife science Inc. OMNI will relocate from its current location in East Taunton, Mass., and fully occupy the building, which is located at 480 Paramount Drive in Raynham. The building will serve as the medical technology company’s new headquarters. The facility features 20-foot clear ceiling heights, eight tailboard doors and 111 surface-level parking spaces. Steve Clancy of CBRE represented the tenant in the deal.
ONTARIO, CALIF. — Noble House Home Furnishings has leased Prologis Mission Distribution Center, a 741,458-square-foot industrial distribution center in Ontario. The Class A center is located at 3655 S. Philadelphia St. It was built in 2001 and acquired by Prologis in 2007. The center was completely vacant prior to this lease. Peter Castleton of Voit represented the national residential furniture manufacturer in the transaction.
NORTH EAST, MD. — Trammell Crow Co. (TCC) has partnered with Diamond Realty Investments Inc. to develop Principio Commerce Center I, a 1.2 million-square-foot distribution center in North East. The property will be built on a 100-acre parcel within the 6 million-square-foot Principio Business Park. Home to existing tenants such as Restoration Hardware and General Electric, the industrial park is located adjacent to Route 40 and less than five miles from I-95. Principio Commerce Center I will feature a cross-dock design with 190-foot truck courts, 283 trailer stalls, up to 216 dock doors, 36-foot clear heights and an ESFR sprinkler system. Dave Dannenfelser of JLL and Mike Zerbe of Colliers International are handling Principio Commerce Center I’s leasing. Conewago is the project’s general contractor, and KSS Architects provided design services. PCCP provided a construction loan to TCC and Diamond Realty, which plan to deliver the asset in spring 2017.
LEBANON, TENN. — HSA Commercial Real Estate has partnered with Boston-based Great Point Investors LLC to co-develop a 652,000-square-foot speculative industrial building at Commerce Farms Business Center in Lebanon, a suburb of Nashville. Situated on 41 acres at the junction of State Route 840 and Highway 109, the distribution center will feature 32-foot clear heights, 116 truck docks, two drive-in doors and parking for 84 trailers and 257 cars. The partnership is scheduled to break ground on the facility later this month, with delivery planned in the first quarter of 2017. HSA Commercial and Great Point Investors have retained NorthStar Real Estate Advisors to oversee the marketing and leasing of the distribution center. The design team includes Chicago-based general contractor Premier Design + Build and architect Harris Architects Inc. HSA Commercial previously partnered with Great Point Investors to build a 220,000-square-foot distribution center near Indianapolis and a 218,500-square-foot spec industrial facility in north suburban Chicago.