DURHAM, N.C. — Cushman & Wakefield | Thalhimer has arranged the $12.5 million sale of Research Tri-Center North V, a 203,385-square-foot multi-tenant industrial facility situated within Research Triangle Park. The fully leased property is located at 3500 N. Tri-Center Blvd. in Durham. Stoltz Real Estate Partners LLC purchased the property from The Silverman Group. Chris Norvell, Scot Humphrey, Jackson Rives and Bill Simerville of Cushman & Wakefield | Thalhimer’s capital markets group represented The Silverman Group in the transaction.
Industrial
SOUTHFIELD, MICH. — Signature Associates has arranged the lease of 16,320 square feet of industrial space in Auburn Hills, six miles west of Rochester Hills. The property is located at 2670 Auburn Court. Kris Pawlowski and Gary Stephens of Signature Associates represented the landlord, Gold Star Development LLC. Pawlowski represented the tenant, Fenkell Automotive Services Ltd.
NORTHBOROUGH, MASS. — Marcus & Millichap (M&M) has brokered the sale of a FedEx freight facility located at 300 Bartlett St. in Northborough. Built in 2013 and situated on 24 acres, the 31,551-square-foot facility sold for $17 million or $538 per square foot. Laurie Ann Drinkwater of M&M’s Boston office and Seth Richard of M&M’s Manhattan office represented the buyer, a regional private investor, in the transaction.
TYNGSBORO, MASS. — Senate Construction Corp. has broken ground for an expansion at Jenike & Johanson’s global headquarters in Tyngsboro. Located at 400 Business Park Dr., the 14,000-square-foot expansion will increase the company’s facilities by 75 percent and will accommodate double the current engineering and advanced modeling and simulation staff. The new addition includes enclosed space, which the company plans to use to expand its testing laboratory with new equipment and staff. Enterprise Bank provided financing for the project, which is scheduled for completion in October.
HOUSTON — Developer First Industrial Realty Trust has selected Cadence McShane Construction Co. to provide comprehensive construction services for a new 350,986-square-foot light industrial speculative facility known as First Northwest Commerce Center. Situated within the northwest Houston submarket and located just off of Beltway 8, the development will be constructed on a 24-acre site at 4800 W. Greens Road. First Northwest Commerce Center will feature 32-foot clear heights, 130-foot truck courts, 90 dock doors and available on-site trailer parking. Cadence McShane will incorporate modern features throughout the building, including T5 lighting, an ESFR sprinkler system, clerestory windows and skylights. The project will also feature surface parking areas to accommodate 258 vehicles. Munson Kennedy Partnership is providing the architectural services for this project, which is slated for single- or multi-tenant occupancy as early as fourth quarter 2014.
BURBANK, CALIF. — Rexford Industrial Realty has acquired a 130,800-square-foot industrial property in Burbank for $15.4 million. The two-building property is located at 2980-2990 N. San Fernando Blvd. It is triple-net leased to Senior Aerospace. The seller was First Industrial. The buyer and seller were represented by John Minervini, Erik Larson, Robin Dodson, Chris Tolles, Jeff Chiate and James Carpenter of Cushman & Wakefield.
ROCKWOOD, MICH. — Colliers International has brokered the sale of a 10,076-square-foot freezer/cooler industrial building located at 31607 Gossett Drive in Rockwood, approximately 25 miles south of Detroit. Kezu Cold Storage LLC purchased the building for an undisclosed price from Instant Whip. Kezu Cold Storage will use the building as a distribution hub to serve southeast Michigan. John Lominack and Jim Roberts of Colliers International represented the seller, Instant Whip. Peter E. Kepic, Peter J. Kepic and Ryan Brittain of Colliers International represented the buyer.
ROSEVILLE, MICH. — L. Mason Capitani has arranged the sale of two industrial buildings totaling 35,000 square feet in Roseville, five miles east of Warren. Special Tool & Engineering purchased two industrial facilities located at 15585 Sturgeon St. and 29800 Calahan Road from an undisclosed seller. The buildings are located approximately three miles from Special Tool & Engineering’s current operations headquartered in Fraser. The company offers engineering, design and complete tool manufacturing for the automotive industry and for household appliances, office equipment, electronics, and the packaging industry. Jason Capitani and Joe DePonio represented Special Tool & Engineering in the transactions.
WOODBRIDGE, N.J. — Advance Realty and F. Greek Development have broken ground for the construction of a 190,000-square-foot refrigerated warehouse and distribution center at 275 Blair Road in Woodbridge. Situated on a 9.33-acre site, the property will be fully leased to Preferred Freezer Services, a nationwide operator of temperature-controlled warehouses. The joint-venture partnership of Advance Realty and F. Greek Development is developing the built-to-suit warehouse, which is slated for completion in April 2015.
MILWAUKEE —The Dickman Co. Inc./CORFAC International has brokered the sale of a 202,358-square-foot industrial building, located at 2800 W. Custer Ave. in Milwaukee. 2800 Custer LLC purchased the building from RockTenn CP LLC for an undisclosed sales price. Samuel M. Dickman Jr. and Samuel D. Dickman of The Dickman Co. represented the buyer in the transaction. Jim Larkin of Colliers International represented the seller.