GARDENA, CALIF. – Isarena has purchased a 4,6770-square-foot industrial building in Gardena for $4.8 million. The building is located at 246 W. 146th Street. Isarena was represented by Gary Blan of Commercial Property Group. The seller, Robert R. Barboor Trust, was represented by Craig Poropat and Bret Osterberg of Lee & Associates Los Angeles – Long Beach.
CHANDLER, ARIZ. – Japanese material handling and automation solutions firm Daifuku has leased 30,247 square feet at Chandler Tech Center. The renewal allows the firm to expand its operations at the center, which is located at 7406 W. Detroit Street in Chandler. Daifuku was represented by Conner Lee and Marc Pierce of Lee & Associates. The landlord, Buchanan Street Partners, was represented by Jackie Orcutt and John Grady of Cushman & Wakefield.
CARTERET, N.J. — The Hampshire Cos. has announced the sale of PortSouth Milik, a 232,134-square-foot industrial building located at 200 Milik St. in Carteret, to TIAA-CREF. Hampshire acquired the former Pathmark office headquarters site in June 2011 and transformed the space into a LEED-certified warehouse and industrial logistical center before signing FedEx Ground as a tenant. The building is located within easy access of the New Jersey Turnpike at exit 12, near Port Newark/Elizabeth and Newark Liberty Airport. Jeffrey Dunne, Kevin Welsh and Brian Schulz of CBRE Institutional Properties represented The Hampshire Companies in the transaction.
ROMEOVILLE, ILL. — Morgan/Harbour has completed the renovation of a 65,000-square-foot warehouse for Inmar in Romeoville. Inmar is a technology company that operates intelligent commerce networks in real-time for retailers, manufacturers and trading partners. The construction was completed during a four-week period and included the build-out of new offices within the existing office footprint, dock renovations and new lighting throughout the warehouse. Morgan/Harbour also constructed a conveyor connection and coordinated the installation of new racking, security and low-voltage electrical systems. Joe Zoksy and Erick Hodorowicz, both of Morgan/Harbour, led the renovation efforts. Ware Malcomb provided architectural services.
SALT LAKE CITY — Extra Space Storage has acquired SmartStop Self Storage for $1.4 billion. Extra Space will acquire 121 SmartStop stores and will assume the property management for its 43 third-party managed stores once the transaction is complete. SmartStop is based in the Orange County submarket of Ladera Ranch, Calif. It currently operates 169 self-storage properties in 21 states and in Canada. SmartStop is the seventh-largest owner and operator of self-storage facilities in the U.S. Certain SmartStop assets will be sold for about $120 million at or prior to the closing of this transaction. This includes one store in California, beneficial interests in two Alabama stores and five stores in Toronto. The stores in Alabama and California will be managed by Extra Space following the disposition. Salt Lake City-based Extra Space Storage is a self-administered and self-managed REIT. The company owns and/or operates 1,100 self-storage properties in 35 states, Washington, D.C., and Puerto Rico.
MINNEAPOLIS — NAI Everest has arranged the sale of a 5.45-acre property located at 315 First Avenue NE, two blocks from the Mississippi River, in Minneapolis for $13.7 million. Superior Plating previously owned the site for nearly 90 years. The company went bankrupt in 2011. The property was then sold to First & University Investors LLC, which sold the site to Lennar Multifamily Communities. The first phase of development will include 278 apartment units as well as 22,000 square feet of commercial space.
HAZELWOOD, MO. — Hilliker Corp., a St. Louis-based commercial real estate company, has arranged the sale of a 114,000-square-foot property located on more than 11 acres in the St. Louis suburb of Hazelwood. The building is located at 5800 Fee Fee Road and contains 18-foot clear ceiling heights, 16 docks with five drive-in doors and a partially fenced parking area for large trucks and trailers. Meade Summers of Hilliker Corp. represented the buyer, Fenton Heavy Manufacturing LLC, and Mark McNulty of CBRE represented the seller, Jefferson Bank and Trust, in the transaction. A logistics company currently leases 75,000 square feet of the property.
CHICAGO — Newmark Grubb Knight Frank (NGKF) has arranged the sale of a triple-net, ground-leased property located at 137 S. State Street in Chicago for $7.1 million. NGKF’s Geoffrey Kasselman, Andy Gallas, Gino Tabbi and Boris Shraybman led the brokerage team on behalf of the seller, a local family trust. The property was sold to a California-based private investor at a capitalization rate of 3.1 percent. A 50,530-square-foot cooling plant operated by Enwave Energy Corp., a division of Brookfield Infrastructure Partners LP, occupies the property. The ground floor of the property is leased to CVS/pharmacy; with floors two through four reserved for the plant’s chillers, pumps and ice machines. The plant provides chilled-water cooling services to more than 100 commercial buildings throughout the Loop via an underground network of pipes. The ground lease extends through December 2043 and Enwave has a one-time, 49-year lease option.
ROMULUS, MICH. — Signature Associates has brokered the lease of 18,300 square feet of industrial space located at 28420-28448 Highland Road in Romulus. Brad Viergever and Larry Kelly of Signature Associates represented the tenant, Morse Moving & Storage Inc., in the transaction. Signature Associates is an independently owned and operated company that is a member of the Cushman & Wakefield Alliance.
TEMPE, ARIZ. – DCT Industrial Trust has acquired a 49,956-square-foot distribution center in Tempe for $3.3 million. The freestanding center is located at 402 W. Geneva Drive within Broadway Industrial Park. It is occupied by Wayne Dalton Garage Doors (dba NationServe). DTZ’s Will Strong, Mike Haenel and Andy Markham represented both the buyer and seller, West Geneva Building LLC, in this transaction.