HOUSTON — NAI Partners has represented Pexco LLC in the disposition of its 129,325-square-foot industrial office and warehouse facility on 11.9 acres located at 12955 Emmett Road in Houston. John Ferruzzo and Nick Peterson of NAI Partners represented the seller, Pexco, during the negotiations, while Barrett Gibson and Jason English with Colliers International represented the buyer, Parker-Hannifin Corp.
MANSFIELD, TEXAS — ARCO/Murray has completed a 186,700-square-foot expansion for Klein Tools. The facility is located in Mansfield and serves as the company’s manufacturing headquarters. The expansion included an 18,000-square-foot, two-story office and multiple crane bays. The space is fully air-conditioned and also features insulated tilt wall panels and a steel bar joist structure. Jason McLaughlin and Mark Klump of ARCO/Murray represented the construction team.
SPARTANBURG, S.C. — SunTrust Bank has provided $41.7 million in construction financing to Johnson Development Associates Inc. for the new Rite Aid Corp. distribution center in Spartanburg. The 900,000-square-foot facility will consolidate three existing distribution centers and is expected to employ roughly 600 new jobs once fully operational. Construction began on the distribution center in March and is expected to wrap up by this December. Johnson Development has also announced a 362,880-square-foot speculative building to be developed at Flatwood Industrial Park in Spartanburg. Construction is currently underway and is expected to wrap up by the end of the year.
PLYMOUTH, MINN. — The Opus Group is developing a 96,000-square-foot speculative industrial office and warehouse facility in Plymouth, about 13 miles west of Minneapolis. Construction will begin this month on the property, which is located on a site that offers access to I-494 from Highway 55. Designed for multi-tenant use, the property will feature 24-foot clear heights, ESFR sprinkler systems, five loading docks and parking for 204 cars. The building will be ready for occupancy by January 2016. The property will be owned by a joint venture partnership between Opus Development Co. and Founders Properties. Opus Development is the developer, Opus Design Build is the design-builder and Opus AE Group will be the architect and engineer of record. Matt Oelschlager of CBRE has been retained to lease the property.
DALLAS, HOUSTON AND SAN ANTONIO — Sealy & Co. has arranged the sale of an industrial portfolio that consists of 19 assets totaling 1.48 million square feet located in Dallas, Houston and San Antonio. The portfolio was part of Sealy’s joint venture holdings with global real estate investment management firm, AEW Capital Management. AEW owned the portfolio on behalf of AEW Partners VII LP, the seventh in AEW’s opportunistic fund series. The portfolio is 91 percent leased and consists primarily of multi-tenant, net-leased industrial facilities.
HOUSTON — NAI Partners represented Electro-Tech Industries in the acquisition of a 115,000-square-foot industrial building located at 303 W. Little York in Houston. Founded in 2000, Electro-Tech Industries (ETI) offers custom design, manufacturing, testing and field service for electrical power distribution equipment and systems. David Boyd and Greg Barra with Boyd Commercial represented the seller, EJKeith Commercial Properties LP, during negotiations. Chris Caudill of NAI Partners represented Electro-Tech Industries in the negotiations.
NAPA, CALIF. – Vynapse, dba Pack n’ Ship Direct, has agreed to lease a 226,000-square-foot wine warehousing facility development within the Greenwood Business Park project in Napa. The Class A space will be located at 1325 Airport Blvd. It represents Phase I of the business park. Greenwood Business Park is being built in two phases by Devcon Construction. Phase II is expected to start construction later this summer. Vynapse will occupy the new building in the next few months. The landlord, New York Life Real Estate Investors, was represented by DTZ’s Brooks Pedder, Tony Binswanger and Trevor Buck. Pedder and Scott Bertrand also represented Vynapse.
ALAMEDA, CALIF. – A 4,500-square-foot industrial building in Alameda has sold to Ming Zhi Investment LLC for $3.1 million. The building is located at 580 South Alameda Street. It is situated within the Los Angeles Arts District. The LLC was represented by Heger Industrial’s Thomas Williams and William Morrison. The seller, Urth Alameda Development, was represented by CBRE’s Brandon Burns.
HAVERHILL, MASS. — C-F Cold Storage has acquired a climate-controlled industrial property located at 10 Creek Brook Dr. in Haverhill. Marwick Associates sold the 108,689-square-foot property for $12.2 million. The property features a state-of-the-art refrigeration system, 34-foot clear heights and highway access. James Stubblebine and David Stubblebine of The Stubblebine Company/CORFAC represented the buyer, while Mark Reardon and Jason Levendusky of CBRE/New England represented the seller in the transaction.
ROMULUS, MICH. — Colliers International has brokered the sale of an industrial property located at 8111 Middlebelt Road in Romulus. PackSpec, a custom packaging company, purchased the 175,280-square-foot property for an undisclosed price. The buyer plans to use the property to consolidate its Warren and Ecorse, Mich., facilities, while expanding its overall facility size. Gary Glotzhober and Jim Roberts of Colliers represented the buyer in the transaction. The name of the seller was not released.