HOUSTON — Colliers International has negotiated two office/warehouse leases at 9777 W. Gulf Bank Road in Houston. Donald Fincher of TruCore Commercial represented Armadillo Photo Supply Inc., which leased 9,746 square feet. Stephen Kuper and Preston Yaggi of Lee & Associates represented Helios Digital Packaging Inc., which leased 16,081 square feet. Walter Menuet and Judd Harrison of Colliers International represented the landlord in the transaction.
NORTH LAS VEGAS — Fanatics has leased 400,000 square feet of distribution space at the Northgate Distribution Center in North Las Vegas, which is currently under construction. The 108-acre industrial property will be situated on Lamb Boulevard off Interstate 15. Phase I of the 2 million-square-foot industrial park will include the largest speculative industrial building ever constructed in Southern Nevada, according to the developer, VanTrust Real Estate LLC. This phase will include six buildings once completed this October. Phase II, which will add 600,000 square feet to the project, will commence this month. The sports merchandise retailer is the first tenant to sign at Northgate Distribution Center. The project’s general contractor is Martin Harris Contracting. HPA Architecture will design the center. Dan Doherty of Colliers International represented Fanatics in the deal. CBRE’s Kevin Higgins represented VanTrust in the lease transaction.
ITASCA, ILL. — A buyer in a 1031 exchange has acquired a 40,150-square-foot industrial facility in Itasca, approximately 25 miles northwest of Chicago, for $6.2 million. The building, sold by an undisclosed development firm, is situated within the Spring Lake Business Park. LabCorp of America occupies the facility, which is located on 3.3 acres at 150 Spring Lake Drive. The building underwent a $7.2 million renovation that included a new roof, HVAC units and a parking lot. The facility was also built out to meet the needs of LabCorp, which still has eight years remaining on its lease. Jason Caplan of SVN | Chicago Commercial represented the buyer in the transaction, and Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller.
FAIRFIELD AND FOREST PARK, OHIO — CBRE Group Inc. has brokered the sale of two office and warehouse buildings near Cincinnati for an undisclosed price. Fairfield Business Center totals 44,011 square feet, and Kemper Woods Business Center totals 98,248 square feet. Chicago-based Brennan Investment Group purchased the buildings from two separate undisclosed sellers. Keith Yearout, Jim Vondran, Doug Whitten, Mike Lowe, Tim Schenke and Jeremy Kraus of CBRE represented the two sellers in the transaction. The team will also market the properties for lease.
WAUKEGAN, ILL. — Transwestern has arranged a 48,370-square-foot industrial lease for Design Phase Inc. in Waukegan, approximately 40 miles north of Chicago. Design Phase will occupy space at Amhurst II, a 167,916-square-foot building within the Amhurst Lake Business Park. The company’s headquarters is also located in a separate building within the business park. The building features 24-foot ceilings, four exterior docks, one drive-in door and 1,300 square feet of office space. Located at 3540–3630 Amhurst Parkway, Amhurst Lake Business Park consists of six industrial buildings situated on 452 acres owned by Prudential Real Estate Investors. Tom Boyle and Jared Paff of Transwestern represented the tenant in the transaction.
NEWNAN, GA. — LRC Properties has purchased a 1.9 million-square-foot distribution facility located at 60 Herring Road in Newnan for an undisclosed price. The company also recently signed Variety Wholesalers to a long-term lease at the facility for 1.4 million square feet. LRC plans to upgrade the facility’s roof and parking lot and renovate the interior to accommodate multiple tenants. The former Kmart distribution center is LRC’s first purchase in Georgia. The company now manages roughly 5 million square feet of industrial space on the East Coast.
GOODLETTSVILLE, TENN. — Cohen Financial has closed a $19 million acquisition loan for two industrial parks totaling 13 buildings and 980,000 square feet in Goodlettsville, a suburb of Nashville. The properties, Space Park North and Old Stone Bridge, are situated a mile apart along I-65. The assets are currently leased to more than 50 tenants combined. Dan Rosenberg and Matt Terpstra of Cohen Financial arranged the fixed-rate, 10-year, CMBS loan through Morgan Stanley on behalf of the borrower, an affiliate of Chicago-based Kaufman Jacobs.
CARLSBAD, CALIF. — Badiee Development has acquired two land parcels totaling 8.4 acres in the Carlsbad Oaks North Business Park for $6 million. The development firm plans to build a speculative flex industrial campus named Carlsbad Oaks Innovation Park on the lots. The two-building campus will contain a total of 102,937 square feet offering a mix of office and functional warehouse space. Badiee will break ground on the campus in the first quarter of 2017, with an expected completion date in the fourth quarter of that year. Tucker Hohenstein and Mike Erwin of Colliers International represented both Badiee and the seller, Kilroy Realty, in this transaction. The team also serves as the project’s listing brokers, along with Conor Boyle.
SEALY, TEXAS — Cushman & Wakefield of Texas Inc. has negotiated a 10-year lease of nearly 400,000 square feet within the former BAE manufacturing facility fronting I-10 just west of Sealy. The tenant is Valerus Field Solutions, a division of Montreal-based SNC-Lavalin, an engineering and construction firm. The Parker/Littman Team at Cushman & Wakefield of Texas represented the owner, Five Star Properties, and Kyle Kelley of Savills Studley and Jim Stark of CBRE acted as brokers for Valerus. The transaction is a consolidation of multiple SNC-LaFkellyvalin locations from across Texas and Louisiana and will employ up to 250 engineers, accountants, project managers, warehouse attendants and general laborers.
PRINCE GEORGE, VA. — The Hollingsworth Cos. has designed and constructed the 190,462-square-foot expansion of a manufacturing facility within SouthPoint Business Park in Prince George. Hollingsworth completed the expansion of the aluminum remelt facility occupied by Service Center Metals (SCM). In addition to the expansion, SCM will invest in additional equipment at the facility and expand the current workforce by 35 employees.
