VISALIA, CALIF. – Stihl Inc. has acquired a 139,655-square-foot industrial building in Visalia for nearly $6 million. The building is located at 9810 Ferguson Ave. It was built in 2008. Stihl, a chainsaw manufacturing company, will occupy 67 percent of the building. It will share the space with Sorma USA LLC, a produce packaging company that occupies 45,967 square feet. Stihl was represented by Craig “Cap” Caprioffi of Fortune Associates. Westcore Properties was represented by Doug Burr of Burr Commercial.
VANCOUVER, WASH. – Padden Industrial Park in Vancouver has sold to Herschell Management for $3.2 million. The 40,870-square-foot park is located at 7613 NE Street Johns and 4601 NE 78th Street. It is composed of five buildings. Herschell was represented by Garret Harper of NAI Norris, Beggs & Simpson. The seller, Heuvel Enterprises LLC, was represented by Jim Lewis of Cushman & Wakefield.
CLINTON TOWNSHIP, MICH. — L. Mason Capitani CORFAC International has arranged the sale of a 32,280-square-foot industrial building located at 19000 Fifteen Mile Road in Clinton Township. Pneumatic Feed Service purchased the property for an undisclosed sales price. Pneumatic Feed Service is a manufacturer of coil handling and press feed equipment. Jason Capitani and Joe DePonio of L. Mason Capitani represented the buyer in the transaction.
DENVER – A 32,900-square-foot manufacturing facility in Denver has sold to 1425 Market LLC for $3.2 million. The facility is located at 2800 Walnut Street. The seller, Gold Star Sausage, had used the facilities to manufacture its sausages and hot dogs. It plans to keep its headquarters in Denver. The buyer intends to renovate the USDA certified food processing facility. Gold Star Sausage was represented by NGKF’s Russell Gruber and Pete Staab.
BEND, ORE. – Romanoff Floor Coverings has leased 4,537 square feet of industrial/warehouse space in Bend. The space is located at 63026 Plateau Drive. The flooring construction services provider was represented by Ron Ross and Terry O’Neil of Compass Commercial in this transaction. The landlord was not named.
MILWAUKEE — Dufek Realty has arranged the $1.4 million sale of a 206,200-square-foot industrial building, located at 4041 N. Richards St. in Milwaukee. The building, formerly owned by Stag II Glendale LLC, was sold to an affiliate of Phoenix Investors LLC. The buyer plans to redevelop the property and lease the building’s industrial portions to new tenants. Robert Dufek of Dufek Realty, and Jim Larkin of Colliers brokered the sale.
BEDFORD PARK, ILL. — Paine/Wetzel TCN Worldwide has arranged a 17,000-square-foot industrial lease in Bedford Park, a suburb of Chicago. Midway Window and Door will occupy space located at 5123 W. 65th St. The door and window manufacturer recently expanded into this second Bedford Park location. Midway Window and Door selected the location for its proximity to its main plant located at 6750 S. Belt Circle Road in Bedford Park. Bill Kerrins of Paine/Wetzel represented the tenant. Mumford Property, the building’s landlord, was self-represented.
BUFFALO GROVE, ILL. — Molto Properties has acquired 351 Hastings, a 68,735-square-foot industrial building in Buffalo Grove. This is the first existing asset acquisition for its newly launched Molto Properties Fund II. JLL’s Kurt Sarbaugh and Robin Stolberg sourced the opportunity and approached Molto Properties with the transaction. A private investor was the seller. The property is located in the Chevy Chase Business Park north of Lake Cook Road and west of Milwaukee Avenue near the Chevy Chase Country Club. The industrial property features a 24-foot ceiling height, ample car parking, six exterior docks and five drive-in doors.
Jack Daniels, FedEx and Gibson Guitar are a few international brands that already call Tennessee home, and the list has expanded over the past two years, as major brands have chosen to grow their operations in Middle Tennessee. Recent industrial relocations including Under Armour, Beretta and Hankook Tire are a few notable companies that chose Nashville over other major markets in the U.S. In addition, existing companies such as General Motors, FedEx and Nissan continue to expand their footprint in the region, creating more jobs and building larger facilities. All of this activity has created the demand for more site-ready properties that can accommodate build-to-suit projects and be delivered quickly. Nashville’s continued evolution as the South’s leading auto manufacturing hub, as well as its favorable central location, has bode well for the industrial market over the last few years. Favorable Fundamentals Nashville’s industrial market vacancy rate of 7.1 percent at the end of fourth-quarter 2014 is the lowest it has been since the fourth quarter of 2008, and the 2014 total net absorption has reached more than 2.25 million square feet, the highest absorption since 2006. This year is projected to be a banner year for new construction with multiple …
SUN VALLEY, CALIF. – A 168,000-square-foot manufacturing building in the Los Angeles submarket of Sun Valley has sold to Prologis for an undisclosed sum. The building is located at 9545 San Fernando Road and 9500 El Dorado Ave. It is fully leased to Sugar Foods Corporation. The multi-national food manufacturer has occupied the building for the past 30 years. The property is less than a mile from the 5 and 118 freeway interchange, and less than six miles from Burbank International Airport. CBRE’s Darla Longo, Barbara Emmons, Rebecca Perlmutter Finkel, Greg Geraci and David Harding represented both the buyer and private seller in this transaction.