HOUSTON — NAI Houston has brokered the sale of a 58,000-square-foot industrial building in Houston’s Downtown Industrial submarket. Located at 5721 Harvey Wilson Drive, the property features office space, a storage yard, two grade-level doors and clear heights up to 22 feet. John Ferruzzo and Chris Kugle of NAI Houston represented the seller, NIFF LLC, in the transaction. Steven O’Conor and Marc Drumwright of Southwest Realty Advisors represented the buyer, Poroo Baker Investments LLC.
Industrial
DALLAS — Lee & Associates has arranged an 18,624-square-foot industrial lease in Dallas for Mechanic’s Time Savers Inc., a manufacturer of magnetic tool systems. The tenant will occupy space within a property located at 10715 N. Stemmons Freeway, in proximity to I-35. Ken Wesson, Adam Graham and Scott Alexander of Lee & Associates represented the landlord, Eastgroup Properties, in the negotiations. Ben Armstrong of RE/MAX North Associates represented Mechanic’s Time Savers.
SAN DIEGO – Acushnet Company has signed a five-year lease renewal for a 163,310-square-foot office and R&D building in San Diego. The lease is valued at $9.6 million. The building is located at 2819 Loker Ave. The golf balls and accessories manufacturer has occupied the facility since 1999. Acushnet was represented by CBRE’s Lannie Allee and Roger Carlson. The landlord, Canoga-Ricon Loker Industrial LLC, was represented by Aric Starck of Cassidy Turley’s Carlsbad office.
BEND, ORE. – A 31,293-square-foot industrial business park in Bend has sold to Shep East LLC for $2.1 million. The park is located at 1320 SE Armour Road. It contains three fully leased buildings occupied by six tenants. The acquisition also included additional land for development. Shep East was represented by Gardner Williams and Peter May of Compass Commercial. The seller, DGS Enterprises LLC, was represented by Ron Ross and Terry O’Neil of the same firm.
SOCIAL CIRCLE, GA. — Cushman & Wakefield has brokered the sale of General Mills Distribution Center, a 1.5 million-square-foot facility located in the I-20 corridor in Social Circle, about 44 miles east of Atlanta. The Class A facility is fully leased to General Mills. An affiliate of Welsh Property Trust purchased the asset from Rockefeller Group Development Corp. and Reus GM Inc. for an undisclosed price. Stewart Calhoun, David Meline, Samir Idris and Casey Masters of Cushman & Wakefield represented the sellers in the transaction.
CAPITOL HEIGHTS, MD. — Terreno Realty Corp. has purchased a 139,000-square-foot distribution center in Capitol Heights for $18.1 million. A single tenant fully occupies the asset, located at 1000 Hampton Park Blvd., about four miles east of Washington, D.C. The distribution center features 18 dock-high and two grade-level loading areas, parking for 210 cars and 32-foot clear ceiling heights.
MALVERN, PA. — Malvern-based Liberty Property Trust has selected Cassidy Turley to manage its 6.2 million-square-foot industrial portfolio. The portfolio consists of 34 single- and multi-tenant buildings ranging in size from 30,000 to 500,000 square feet in Indianapolis, Cincinnati, Columbus, Ohio and Atlanta. The properties were part of a larger 23 million-square-foot, 177 property portfolio that Liberty acquired from Cabot Industrial in 2013. This is Cassidy Turley’s first property management assignment with Liberty. The management team includes Tim Michel, Jeff Wojciechowski and Melissa Day. Local property management will be provided by Rosalind Rainge in Atlanta, Erin Gibstine in Indianapolis, Doug Lance in Cincinnati and Michael Bloch in Columbus.
NEW BRUNSWICK, N.J. — CBRE Group has brokered a 173,746-square-foot industrial renewal and expansion lease in New Brunswick. Prime Source Building Products will continue to occupy space at 14 and 20 Van Dyke Avenue as its Northeast distribution hub. The company renewed its lease for 84,824 square feet at 20 Van Dyke Ave. and expanded into 88,922 square feet at 14 Van Dyke Ave. Scott Belfer and Lou Belfer of CBRE represented the landlord, Van Dyke Associates, in the transaction.
DALLAS — Port Logistics Realty will develop Southport Logistics Park, a 531-acre distribution center complex in south Dallas designed to accommodate up to 9 million square feet of warehouse facilities. The first phase of construction, which will include two buildings totaling 1.5 million square feet, as well as infrastructure for the entire park, will begin in the third quarter. The project is located near the intersection of Fulghum Road and I-45, in proximity to the Union Pacific Intermodal Terminal. Kacy Jones, John Hendricks and Wilson Brown of CBRE will handle leasing at the property.
CASA GRANDE, ARIZ. — Kuehne + Nagel has signed a five-year lease for 201,666 square feet of warehouse and distribution space in Casa Grande. The facility is located at 2592 E. Hanna Road, just south of Chandler. The global logistics company’s new space sits adjacent to Interstate 10. The landlord, Clarion Partners, was represented by JLL’s Pat Harlan, Steve Sayre and Kyle Westfall.