Industrial

LINCOLN PROPERTY ACQUIRES 847,000 SF BUSINESS PARK

by admin July 2, 2013

MIAMI — Dallas-based Lincoln Property Co., acting on behalf of a large pension-fund client, has purchased an 847,000-square-foot business park in Miami. Medley International Business Park West comprises 11 buildings that are located at the intersection of 105th Avenue and Okeechobee Road. The property was 93 percent occupied at the time of closing. Lincoln Property plans to reposition in the asset in the near term and has retained Americas Industrial Realty Corp. to lease the remaining space. With this purchase Lincoln Property now controls an industrial portfolio in south Florida totaling 1.3 million square feet. The seller in this transaction was TA Associates.

July 2, 2013

COMPASS ROSE FOUNDATION TO OPEN AUTO VOCATIONAL SCHOOL

by admin July 2, 2013

JACKSONVILLE, FLA. — Compass Rose Foundation has acquired the former Mercedes-Benz Vehicle Processing Facility located in Jacksonville for $5.2 million. The 168,000-square-foot, single-story warehouse is located on 16 acres along Interstate 95 at 8813 Western Way. The buyer plans to convert the facility into a vocational school focusing on automotive technology, heavy equipment repair, manufacturing technologies, commercial truck driving and logistics management. Bruce Jackson of CB Richard Ellis represented Compass Rose in the deal. The seller was COFE Fund One-Western Way LLC.

July 2, 2013

Industrial Northeast

94,400 SF, NET-LEASED BUILDING SELLS FOR $4.9M

by admin July 2, 2013

WOLFEBORO, N.H. — Marcus & Millichap has brokered the $4.9 million sale-leaseback of GI Plastek Industrial Facility, a 94,400-square-foot, net-leased property in Wolfeboro, about 50 miles north of Manchester. Glen Kunofsky, Edward Otocka and Todd Tremblay, investment specialists in Marcus & Millichap’s Manhattan office, marketed the property on behalf of the seller, a fund manager. The buyer, a private investor, was secured and represented by Kunofsky and Judson Kauffman, investment specialists at Marcus & Millichap. The GI Plastek Industrial Facility is located at 5 Wickers Drive and is occupied by a manufacturer of molding products. The tenant signed a new 20-year, triple-net lease.

July 2, 2013

Industrial Texas

CENTERPOINT PROPERTIES BUYS INDUSTRIAL PORTFOLIO FOR $42.6M

by admin July 2, 2013

HOUSTON — CenterPoint Properties has purchased a 1 million-square-foot, six-building industrial portfolio in Houston for $42.6 million. Exel Logistics fully occupies all six facilities, which are rail-served and located within 25 miles of the Port of Houston. The properties are situated on a 42.8-acre lot located near interstates 10 and 610. Trent Agnew and Rusty Tamlyn of HFF represented the seller, TA Associates, in the transaction.

July 2, 2013

Industrial Western

SAN DIEGO FACILITY SELLS FOR $2.5M

by admin July 2, 2013

SAN DIEGO – An 8,000-square-foot building in San Diego has sold to Field Ironworkers Apprenticeship & Training Program for $2.5 million. It is located at 3888 Beech Street. The buyer plans to use the property as a training facility. Field Ironworkers was represented by James Duncan of Cushman & Wakefield. The seller, iStar Busco, was represented by Linda Greenberg of Lee & Associates in this all-cash transaction.

July 2, 2013

Industrial Western

HYBRID PROMOTIONS LEASES 331,376 SF AT CYPRESS TECHNOLOGY CENTER

by admin July 2, 2013

CYPRESS, CALIF. — Hybrid Promotions LLC has signed a five-year lease for 331,376 square feet at Cypress Technology Center. The lease is valued at about $6 million. The 173,990-square-foot industrial building is located at 5757 Plaza Drive in Cypress. The new lease has brought the building to full capacity. Hybrid Promotions was represented by CBRE’s John Privett, Steve Young and Cameron Merrill. The landlord, Deutsche Asset & Wealth Management, was represented by Rick McGeagh, Bob Goodmanson and Dave Desper, also of CBRE.

July 2, 2013

Industrial Texas

DYNAMEX SIGNS TWO LEASES IN CARROLLTON

by admin July 1, 2013

CARROLLTON, TEXAS — Dynamex has signed two leases for industrial space in Carrollton totaling 89,786 square feet. The transportation services company signed a 31,098-square-foot lease at 1505 Wallace St., Suite 122, and a 58,688-square-foot lease at Luna IV, located at 2244 Luna Road, Suite 120. J. Scot More of Holt Lunsford Commercial represented the landlord, CIR-III REIT, in the Wallace Street lease. Carter Crow of Billingsley Co. represented the landlord, CB Luna Industrial No. 1, in the Luna IV transaction. Ward Richmond, Chris Teesdale and Tom Pearson of Colliers International represented the tenant in both deals.

July 1, 2013

Industrial Midwest

DUKE REALTY ARRANGES 456,719 SF IN INDUSTRIAL LEASES

by admin June 28, 2013

CHICAGO — Two logistics companies have leased a total of 456,719 square feet in industrial leases along the I-55 corridor. APL Logistics, a third-party logistics services provider, signed a new lease for 126,450 square feet in Crossroads 1, while existing tenant Exel Inc., a supply chain and logistics company, renewed its 241,110-square-foot lease and expanded by 89,159 square feet in Park 55 Building 1. Duke Realty owns both buildings. Larry Johnson with CBRE represented APL Logistics in its new lease, while Mark Moran and Steve Connolly with NAI Hiffman and Susan Bergdoll of Duke Realty represented the landlord. Jeanne Rogers with Arthur J. Rogers & Co. represented Exel Inc. in its renewal and expansion, while Trevor Ragsdale, Kelly Gray and Michael Connor with Jones Lang LaSalle and Bergdoll represented Duke Realty. Crossroads 1 is a 289,920-square-foot bulk distribution facility and one of seven Duke Realty industrial buildings in Crossroads Business Park at I-55 and Route 53 in Bolingbrook. Park 55 Building 1 is a 529,000-square-foot bulk distribution facility located a few miles southwest of Crossroads along I-55.

June 28, 2013

Industrial Midwest

CONSTRUCTION OF 326,650 SF DISTRIBUTION CENTER UNDERWAY

by admin June 28, 2013

KANSAS CITY, MO. — Demdaco, a Leawood-based importer of household gift and decorative items, is moving its distribution to Logistics Park Kansas City. Logistics Park KC master developer NorthPoint Development and NAI Capital Realty announced that Demdaco had executed a long-term lease for a 326,650-square-foot distribution center. The center will be custom built for Demdaco, which has distributed its products from North Kansas City for the last 12 years. Demdaco will bring the total square footage under development to more than 850,000 square feet at the industrial park.

June 28, 2013

Industrial Midwest

MR. MOVER RELOCATES TO METRO MILWAUKEE

by admin June 28, 2013

SAUKVILLE, WIS. — Mr. Mover Inc., a moving and storage company, has purchased an 8,800-square-foot industrial building in Saukville, about 25 miles north of Milwaukee. General Chemical sold the property, which is located at 500 N. Progress Drive. The purchase price was undisclosed. General Chemical acquired the facility in 2006. Mr. Mover will relocate from its current building at 336 S. Spring St. in Port Washington. James Young of Cassidy Turley Barry represented General Chemical in the transaction. Jeff Hoffman of Judson & Associates represented Mr. Mover.

June 28, 2013

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