MESA, ARIZ. – Addictive Desert Designs has signed a three-year lease for two warehouse buildings in Mesa. The property is located at 308 S. Extension Road. It contains a 44,004-square-foot building and a 22,706-square-foot building. The off road truck and SUV design and parts manufacturer will be expanding from its nearby 40,000-square-foot warehouse. Matt McDougall and Matt Fredrick of Lee & Associates represented both Addictive Desert and the landlord, Presson Corp., in this transaction.
EL PASO, TEXAS — CBRE has arranged sale of a four-building, 245,745-square-foot industrial portfolio in El Paso, on behalf of New York-based Sullivan Crosby Trust. Phoenix-based ViaWest Group purchased the portfolio in an off-market transaction for an undisclosed price. Christian Perez Giese, William Caparis, Anthony Mash and Arturo De la Mora of CBRE’s El Paso office represented the seller. The buildings are 50 percent occupied, with short-term tenants bringing it to 75 percent occupancy. According to CBRE Research, the central El Paso submarket is approximately 94.7 percent occupied as of the fourth quarter of 2014. This is the first El Paso-area acquisition for ViaWest Group. A host of rehabilitation projects are slated for the properties, including new roofs, landscaping, fencing and equipment replacement.
HOUSTON — Levey Group has arranged an 11,200-square-foot, 10-year lease with PCI Promatec at its Sam Houston Business Park in Houston. PCI Promatec will occupy space located at 8846 N. Sam Houston Pkwy. W. The company specializes in fire stops, penetration seals, fire wrap and rigid fire barriers developed for nuclear, power and chemical processing, as well as heavy industrial applications. Sam Houston Business Park is a Class A, industrial flex, office and distribution business park. The business park includes three tilt wall facilities featuring storefront entrances, generous clear heights and column spacing and dock-high and grade-level loading docks. A fourth 56,000-square-foot building is under construction. Other park tenants include Flotek, Ringers Technologies, Tyndale USA, NDLI Logistics, Westermann BG and Doorscapes Inc. Joseph Smith of CBRE represented Levey Group, and Chris Caudill of NAI Partners represented Promatec in the transaction. With Promatec’s lease, phase I of the development is now fully percent leased.
MARLTON, N.J. — NAI Mertz has arranged the sale of a multi-tenant industrial building located at 4 East Stow Road in Marlton. Plymouth Industrial REIT Inc. purchased the 156,280-square-foot facility for an undisclosed price. The property is currently 97 percent leased to a variety of tenants, including Cherry Hill Photo, RiverTech Solutions and MBO America. Situated on 14.54 acres, the property features 22-foot ceiling heights, 22 tailgate loading doors and eight drive-in loading doors. Jonathan Klear and Fred Meyer of NAI Mertz negotiated the transaction. The name of the seller was not released.
CONCORD, N.C. — Griffin Capital Essential Asset REIT II Inc., a non-traded REIT sponsored by Griffin Capital Corp., has purchased the Owens Corning Building in Concord, part of Charlotte’s Northeast industrial submarket. The 61,200-square-foot, Class A industrial property is under a long-term lease agreement with Owens Corning. Patrick Gildea, Anne Johnson and Bryan Crutcher of CBRE represented the undisclosed seller in the transaction.
LINDON, UTAH – Colmena Capital has acquired the Vivint Industrial Complex, a 366,710-square-foot complex in Lindon, for an undisclosed sum. The complex is located at 500 South 500 West. It is home to Vivint, Aquatherm, Cornerstone and Emergency Essentials. The seller is Stag Industrial. The transaction was executed by Bryce Blanchard of Newmark Grubb ACRES.
CITY OF INDUSTRY, CALIF. – GELS Logistics has leased 250,000 square feet of industrial space in the City of Industry. The space is located at 20275 Business Parkway. The global logistics company will be relocating from its nearby facility in Baldwin Park. GELS was represented by Kevin Ching, Jeff Bethel and Henry Hong of Lee & Associates Industry. The landlord, Majestic, was represented by Terry Baker.
RAMSEY, N.J. — NAI Hanson has brokered the lease of 44,560 square feet of industrial space in Ramsey. Glebar Corp. will relocate to the industrial space at 565 Crescent Ave. from Franklin Lakes, N.J. The facility features five tailgates, one drive-in loading dock and 9,400 square feet of office space. Kenneth Lundberg and Patrick Lennon of NAI Hanson represented the property owner, West Essex Industrial Park LLC, while Craig Engelhardt of Savills Studley represented the tenant in the lease transaction.
MILWAUKEE — Mortara Family Properties LLC, doing business as Mortara Instrument, has purchased an 8,020–square-foot industrial building in Milwaukee. Glenbeigh Properties LLC sold the asset located at 8585 W. Bradley Road for an undisclosed sales price. Mortara Instruments supplies electrocardiography products to healthcare providers. The company owns the lot next to this property and plans to combine the two properties and build a new facility. James Young of DTZ Barry represented Glenbeigh Properties. Michael DeMichele of DeMichele Co. represented Mortara Instrument.
NORTH HAVEN, CONN. — HK Group has brokered the sale of The North Haven Distribution Center, located at 1 N. Frontage Road in North Haven. Boston-based STAG North Haven LLC purchased the property for $57.7 million from New York-based North Haven Inc. Situated on 63.61 acres, the asset consists of two buildings, totaling 825,000 square feet. One property is a large refrigerated produce building with 71 dock height doors and one is a grocery warehouse building with 108 dock height doors. Matthew Keefe and Ricardo Cordido of HK Group were the sole brokers in the transaction.
