SAN DIMAS, CALIF. — TP-Link USA Corporation has signed a 38-month lease at a 52,000-square-foot industrial warehouse in San Dimas. The company will be relocating from its current 15,000-square-foot space in City of Industry. The new facility is located at 975 Overland Court. TP-Link was represented by CBRE’s Jason Chao. The landlord, , PEER Properties-2 and RDS Investment Holdings, was represented by Lynn Knox and Kent Stalwick, also of CBRE.
PHOENIX – A 9.4-acre plot of land in Deer Valley has sold to the Mack Company for $2.6 million. The company plans to build a 169,000-square-foot, Class A industrial development on the site, which is located near the southwest corner of Pinnacle Peak Road and 7th Street in north Phoenix. It is scheduled for completion in May 2014. Mack was represented by Steve Sayre, Pat Harlan, Kyle Westfall, Mark Detmer and Bo Mills of Jones Lang LaSalle. The seller, 7th Street & Airport Drive II, LLC, was represented by Luke Lewis of Luke Land Realty.
NORFOLK, VA. — Cushman & Wakefield | Thalhimer has brokered the $1 million sale of a 21,300-square-foot industrial facility, located at 3700 Progress Road in Norfolk. Bill Throne and Eric Throne of Cushman & Wakefield's Virginia Beach office represented both the buyer, 3700 LLC, and the seller, Thirty Seven Hundred Progress Rd LLC, in the transaction. The buyer purchased the property as an investment for Bimbo USA Distribution Facility.
WANDO, S.C. — Avison Young has arranged a 49,600-square-foot lease for office/warehouse space, located at 2509 Clements Ferry Road in Wando, 22 miles north of Charleston. Todd Garrett and Ben Poblano represented the landlord, Yeros Investments LLC, in the lease deal. David Seay of Seay Development represented the tenant, The Tides Commodity Trading Group Inc.
LEWISVILLE, TEXAS — The industrial division of NAI Robert Lynn has arranged the lease of 266,640 square feet of industrial space in Lewisville to Nutritional Science Laboratories. The site, located on Lakepointe Drive, is part of a larger 391,000-square-foot facility. The remaining 125,000 square feet is available to another tenant or for a potential future expansion of Nutritional Science Laboratories. NAI’s Rick Medinis and Tyson Erwin represented landlord Exeter Property Group, while Alex Payne of Axis Realty Group represented the tenant.
HOUSTON — NAI Houston has arranged the lease of a 45,500-square-foot freestanding warehouse facility at 550 Canino Road in north Houston to IFCO Systems North America. Chris Kugle and John Ferruzzo of NAI Houston represented the landlord, NATMI National FX Properties LLC, in the transaction. DTZ Americas Inc. represented tenant IFCO, a logistics service provider specializing in reusable plastic containers and wood pallets.
CHARLOTTE, N.C. — Adler Kawa Real Estate Advisors (AKREA), a joint venture between Adler Group and Kawa Capital Management, has purchased Carmel Executive Park, a 225,000-square-foot business complex in Charlotte. The six-building property is located at the intersection of Carmel and Pineville-Matthews roads and houses more than 100 tenants, including Liberty Mutual Insurance, JP Morgan Chase Bank, Crump Life Insurance Services, Bank of North Carolina and Hanson Brick East. The property is currently 95 percent leased. The transaction is the first purchase for Adler Kawa Real Estate Fund II. AKREA purchased the property from Pizzagalli Properties, which originally developed the property in 1990. Patrick Gildea and Ryan Clutter of CBRE represented the seller in the transaction. Charles Foschini, Christopher Apone and Compie Newman of CBRE's Debt & Equity Finance Group arranged acquisition financing.
HOUSTON — Cadence McShane Construction has completed a 181,067-square-foot build-to-suit for GAC Energy & Marine Services LLC at Central Green Business Park. The facility was built to meet LEED-CS (core and shell) certification and includes 31,309 square feet of office space and three acres of outdoor storage in addition to warehouse and distribution space. This was the fourth project built at Central Green Business Park by Cadence McShane on behalf of property owner Liberty Property Trust.
ORLANDO, FLA. — McCraney Property Co. (MPC), an industrial real estate developer and manager, has completed construction on Dade Paper Co.'s new 150,000-square-foot distribution center in Orlando. The facility is located in MPC's 25-acre John Young Business Park. The property is the first of three properties in John Young Business Park that MPC has committed to develop in its joint venture arrangement with Clarion Partners. The other two spec projects, totaling 243,236 square feet, will break ground this month with an expected completion in first quarter 2014.
JACKSONVILLE, FLA. — Franklin Street, a full-service commercial real estate firm, has closed the sale of an 8,050-square-foot warehouse/office facility, located at 5760 Mining Terrace in Jacksonville. The property is located within the South Jacksonville Industrial Park. National Loan Corp. sold the property to Specialty T's, a company that specializes in silk screen printing, for $260,000, or $32.30 per square foot. Monte Merritt of Franklin Street's Jacksonville office represented the seller in the transaction.