DALLAS — Brennan Investment Group LLC has purchased and leased back to Arbor Metals an industrial property located at 811 Regal Row in Dallas. Arbor is an international trader, processor and stocking metal service center for stainless steel and aluminum strip and coil. The building serves as the company’s headquarters and sole manufacturing facility. This acquisition increases Brennan’s Southwest regional portfolio to 21 buildings.
MCDONOUGH, GA. — Lincoln Property Co. Southeast has arranged three leases totaling nearly 72,000 square feet at Westridge Logistics Center, a two-building industrial campus totaling 324,112 square feet. Westridge is located in the South Atlanta industrial submarket of McDonough. Denton Shamburger of Lincoln represented the landlord in all three transactions. The deals included Thom Sawyer Logistics Solutions signing for 26,286 square feet, Legacy Commissary Services signing for 15,172 square feet and an unnamed tenant signing for 30,343 square feet. Rusty Epperson of Wilson, Hull & Neal Real Estate represented Thom Sawyer Logistics Solutions, and Bob Robers of Transwestern represented Legacy Commissary Services in their lease transactions.
CARTERET, N.J. — CBRE Group Inc. has arranged the sale of a warehouse and distribution property located at 200 Milik St. in Carteret. TIAA-CREF purchased the 232,134-square-foot property for $49.5 million from The Hampshire Companies. Constructed in 2012, the facility features 36-foot clear ceiling heights, 52-by-50-foot column spacing, ESFR sprinkler systems and up to 40 loading docks. The seller began construction of the property on a speculative basis and fully leased the building to FedEx Ground prior to completion. Jeffrey Dunne, Kevin Welsh and Brian Schulz of CBRE Group Inc. represented the seller and the buyer in the transaction.
INDIANAPOLIS — The Opus Group is developing a speculative industrial property at 3901 Hanna Circle at the Airport Business Center in Indianapolis. The industrial office and warehouse facility will feature 433,000 square feet of space. Situated on 26.2 acres, the property will feature 32-foot clear heights, 40 loading docks with four drive-in doors, ESFR sprinkler systems, T-5 fluorescent lighting and parking for 288 cars and 63 trailers. Construction began in May, with completion slated for February 2016. The building will be owned by a joint venture partnership between Opus Development Co. and Founders Properties. Opus Development Co. is the project’s developer, Opus Design Build is serving as design-builder and Opus AE Group is the architect and engineer of record. DTZ has been retained to market the property for lease.
CLARKSTON, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of 54 approved lots located at 5470 Waldon Road in Clarkston. Julie Taylor sold the assets to Pinnacle North Ridge for an undisclosed price. Robert Hibbert of Friedman represented both the seller and buyer in the transaction.
LANCASTER, TEXAS — NFI, supply chain solutions provider, will open a distribution center in in Lancaster in partnership with Rent-A-Center. The facility is the first of several distribution centers that will support Rent-A-Center operations across North America. Rent-A-Center offers furniture, electronics, appliances and computers through rental-purchase agreements at over 3,000 retail locations in the United States, Canada, Mexico and Puerto Rico.
COLUMBUS, OHIO — Alterra Real Estate Advisors, with a group of investors, has acquired an industrial building located at 711 Distribution Drive in Columbus. Situated on nine acres, the 208,000-square-foot property sold for $2 million, or $9.76 per square foot. Alterra will lease and manage the property, which is currently 50 percent occupied by Quad Graphics. The property was acquired at auction.
DENVER – A 61,954-square-foot industrial property in Denver has sold to Parkhill Development Company for $5.5 million. The space is located at 3000 and 3201 Walnut Street. The seller, WSM Properties, was represented by DTZ’s Aaron Valdez, Alec Rhodes and Tyler Smith.
CITY OF INDUSTRY, CALIF. – Gordon Brush Mfg. Co. has purchased a 182,853-square-foot industrial building in the Los Angeles submarket of the City of Industry for an undisclosed sum. The property is located at 3737 Capitol Ave. The industrial brush manufacturer plans to relocate to the building, which will allow it to consolidate its operations. The company will occupy 100,000 square feet and lease the remaining space. Gordon Brush was represented by Jeff Bethel and Jack Cline of Lee & Associates.
DEVENS, MASS. — Calare Properties and Hackman Capital Partners have completed the disposition of a manufacturing facility located at 112 Barnum Road in Devens. A large institutional real estate investor acquired the 392,000-square-foot property for $36 million. Originally constructed in 2010, the property features manufacturing and research facilities including oversized air handling and humidification emergency diesel generators and gas distribution systems. Robert Gibson, Bill Moylan, Chris Angelone, Bruce Lusa and John Meador of CBRE/New England represented the seller in the transaction.