PETALUMA, CALIF. – A 186,000-square-foot industrial property in Petaluma has sold to Lowenberg & Associates for an undisclosed sum. The multi-tenant property is located at 2200-2240 South McDowell Blvd. It is currently occupied by Thermo Fisher Scientific and Dr. Pepper Snapple Group. Glen Dowling, Tony Sarno, George Eckard, Seth Siegel, Adam Lasoff and Grant Lammersen of Cushman & Wakefield represented both the buyer and the seller, 2200-2240 South McDowell, LLC, an affiliate of PB&J Acquisitions and Investcorp, in this transaction. Dowling and Sarno are currently marketing the remaining 46,440 square feet for lease.
Industrial
SANTA ANA, CALIF. — Goodwill Industries of Orange County has leased 37,228 square feet of industrial space in Santa Ana. The property is located at 2250 S. Yale Street. It will serve as the company’s e-commerce and retail warehousing center. Goodwill was represented by JLL's Matt Christensen. The landlord, Skeffington Enterprises, was represented by CBRE.
ROCHESTER HILLS, MICH. — L. Mason Capitani CORFAC International has brokered the sale of a multi-tenant industrial facility to an undisclosed buyer in Rochester Hills. Based on the current net operating income, the 49,686-square-foot building traded at a 9.8 percent capitalization rate. The facility, located at 2703-2727 Product Drive, was fully occupied at the time of sale. TI Automotive and Gexpro are currently tenants at the building. Jason Capitani and Garry Rogers of L. Mason Capitani represented the seller, Kevin Buchanan, in the transaction.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has arranged the lease of a 30,000-square-foot industrial space in Milwaukee. Wenniger Compressor Co. will occupy space located at 3745-55 N. Richards St. Samuel M. Dickman Jr., Samuel D. Dickman and Anthony Huenerbein of the Dickman Co. represented the landlord, Richards Industrial LLC, in the transaction. Tony Haning of Jones Lang LaSalle represented the tenant, Wenniger Electric doing business as Wenniger Compressor Co.
NEW YORK CITY — Eastern Consolidated has arranged the sale of 37-10 Crescent Street, a warehouse property in Long Island City. GMS Seashore sold the 18,000-square-foot property to 37-10 Crescent Street LLC for $6.5 million. A limousine company, whose lease expires in May 2015, currently occupies the one-story building. The lease includes one five-year option and demolition clause that may be exercised with a six-month notice. The asset site totals 36,552 buildable square feet. Peter Carillo and Chad Ian Sinsheimer of Eastern Consolidated represented the seller in the transaction. Additionally, Carillo procured the buyer for the deal. The attorney for the seller was Farrel Fritz, and Seth Stein, Esq. was the attorney for the buyer.
BOHEMIA, N.Y. — Snapple, along with its parent company Dr. Pepper, has leased 51,734 square feet at 2004 Orville Dr. North in Bohemia. Owned by Rechler Equity Partners, the one-story 106,515-square-foot building offers 24-foot clear ceiling heights and convenient access to Veterans Memorial Highway, the Long Island Expressway and Sunrise Highway. Snapple is moving its Long Island operations to the new facility. Ted Trias of Rechler Equity Partners represented the ownership, while Philip Heilpern of CBRE represented the tenant in the transaction.
DALLAS — The Dallas office of Duke Realty Corp. has signed leases totaling 1.4 million square feet in Coppell and northwest Dallas since the beginning of the year. The transactions include four new leases and eight renewals, plus a new lease of 127,189 square feet for Insight Merchandising, a Texas-based manufacturer of store fixtures. Occupancy in Duke’s industrial properties in the Dallas area is 98 percent. Louis Pascuzzi and David Creirer with Jackson-Cooksey represented Insight Merchandising in the new lease, while Randy Wood, vice president of leasing, represented Duke.
SAN DIEGO – An 83,335-square-foot industrial building in San Diego has sold to Solana Enterprises for $8 million. The building is located at 7455-7465 Carroll Road. It is fully occupied by Rhino Linings and Westside Building Supplies. The buyer’s financing was provided by Pete Carr and Derek Adams of California Bank & Trust. Bryce Aberg, Brant Aberg and Ryan Spradling of Cassidy Turley’s San Diego office represented both the buyer and the seller, Drake West LLC, in this transaction.
GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan has arranged the lease of an 885,781-square-foot manufacturing and distribution facility in Grand Rapids, a suburb of Detroit. The property, located at 5565 Broadmoor Ave. SE, covers about 20 acres on a 127-acre site. Stan Wisinski of NAI Wisinski of West Michigan represented the undisclosed tenant, who is set to move into the facility in August. The tenant plans to reconfigure the plant for production. Franklin Partners and Bixby Bridge Capital purchased the manufacturing facility from Steelcase Inc. Duke Suwyn of Colliers International represented Franklin Partners in the transaction.
WEST PALM BEACH, FLA. — McCraney Property Co. has broken ground on a Class A, 100,000-square-foot warehouse/distribution center in West Palm Beach. The property is located off Okeechobee Boulevard and Jog Road in McCraney’s Vista Business Park. The project is the first new construction in the office park in the past five years. City National Bank provided construction financing for the project, and Michael Falk & Co. LLC will lease the two-building property. The design team includes general contractor Edwards Construction Services Inc. and architect Jose Jaramillo of JJ Architectural Group. Upon completion, which is slated for December 2014, the property will feature 24-foot clear heights and available industrial space ranging from 10,000 to 100,000 square feet.