ROUND ROCK, TEXAS — HFF has brokered the sale of a three-building, 275,499-square-foot industrial portfolio in the Austin suburb of Round Rock. The properties include 110, 116 and 120 E. Old Settlers Blvd., all located off I-35. Thermo Fisher Scientific, Total Site Solutions and Toshiba each fully occupy one of the facilities. HFF marketed the portfolio on behalf of the seller, a Boston-based institutional investor. Stoltz Cos., an owner/operator real estate investment company, purchased the assets free and clear of existing debt.
Industrial
McKINNEY, TEXAS — Hisun Motors Corp., a China-based manufacturer of utility-terrain and all-terrain vehicles, will open its North American headquarters at a 163,502-square-foot facility in the Dallas/Fort Worth suburb of McKinney. The property, located at 310 E. University Drive, previously served as the regional headquarters of Emerson Process Management Regulator Technologies. McKinney Economic Development Corp. acquired the site in 2013 when Emerson opened its global corporate headquarters elsewhere in McKinney. Hisun, which is expected to bring 80 new jobs to McKinney, worked with the McKinney Economic Development Corp. for more than one year in finding a location.
POMONA, CALIF. – A 134,500-square-foot industrial facility in Pomona that is fully occupied by Hamilton Sundstrand has sold to a private investor from Orange County for $16 million. The facility is located at 2771 N. Garey Ave. The aerospace and defense contractor has owned and occupied the building since it was constructed in 1962. Hamilton Sundstrand is now a part of UTC Aerospace Systems, a division of United Technologies Corporation. The buyer was represented by Clyde Stauff of Colliers and Mike Hartel and Mike Bouma of Voit. A joint venture between Lincoln Property Company and Morgan Stanley Real Estate Fund was also represented by Colliers.
SAN DIEGO – A 36,936-square-foot industrial building in the Lusk Business Park in San Diego has sold to Western State Technologies for $6.3 million. The building is located at 10540 Heater Court. The seller, Moxie Partners LLC, was represented by Bryce and Brant Aberg of Cassidy Turley San Diego.
WARREN, MICH. — Colliers International has arranged the sale of a 25,156-square-foot industrial building in Warren. The property is located at 26067 Groesbeck Highway. The buyer is a supplier of water-based adhesives, coatings and solvents. Jack Williams of Colliers International represented the seller, Holman Holdings Inc., in the transaction.
SCHAUMBURG, ILL. — Lee & Associates has arranged the lease of a 76,097-square-foot manufacturing space in Schaumburg for Hi-Grade Welding & Manufacturing. The manufacturer of weldments and custom sheet fabrications will occupy space at 140 Commerce Drive. John Cassidy and Ken Franzese of Lee & Associates represented Hi-Grade Welding & Manufacturing in the transaction. Britt Casey and Chris Lydon of Cushman & Wakefield represented the landlord, IndCor Properties.
SAN LEANDRO, CALIF. – An 85,089-square-foot food manufacturing warehouse in San Leandro has sold to Berber Food Manufacturing, Inc, dba Mi Rancho, for an undisclosed sum. The warehouse is located at 427 Hester Street. Mi Rancho is a local family business that produces and distributes tortillas. The seller, Lowenberg Corporation, was represented by Greig Lagomarsino of Colliers International’s Oakland office. Financing was provided by Tom Signorelli with Westgate Financial.
RIVERSIDE, MO. — Lee & Associates has arranged the long-term, build-to-suit lease of an industrial building for Martinrea International in Riverside, which is located approximately seven miles north of Kansas City. The Canadian auto-parts supplier will occupy 275,560 square feet of space at 5233 N.W. 41st St in the Riverside Horizons Business Park. The industrial facility is set for completion by early 2015. The Tutera Group, Crossland Construction and Davidson Architecture & Engineering are developing the building. Erik Murray and Nathan Anderson of Lee & Associates Kansas City negotiated the lease.
DULUTH, MINN. — The Duluth Seaway Port Authority has approved the sale of approximately 8.6 acres of land at Duluth Airpark in Duluth for United Piping Inc. The company will use the land to expand its existing operations at the Airpark as it continues to serve customers in the oil and gas industry. Duluth Airpark is a modern, 300-acre light industrial/commercial park, with shovel-ready lots ranging from one to five acres. The Duluth Seaway Port Authority manages the Airpark. The authority is an independent public agency created under a Minnesota state statute to promote trade development and to expand and improve facilities that foster economic development within the Port of Duluth-Superior.
LOS ANGELES — The Magellan Group has recently closed on three acquisition and development transactions in Southern California. The company is also in escrow on a fourth investment that should close in May. The transactions include the acquisition of a 14-acre site at 1869-2069 Massachusetts Ave. in Riverside for $6.5 million, and a 4.8-acre site at 5115 Azusa Canyon in Baldwin Park for $4 million. The Riverside site currently contains a fully leased manufacturing building and yard area. Magellan plans to redevelop the property and add new industrial space as these leases expire over the next five years. The Baldwin Park site contains three buildings that total 70,000 square feet. They are currently leased on short-term bases. Magellan also plans to redevelop this site once the leases expire. Construction will also commence next month on a building conversion in Duarte. Magellan purchased the building, which used to serve as the building site for the Tournament of Roses parade floats, in March 2013 for an undisclosed sum. The building is located at the intersection of Buena Vista and Duarte Road. Magellan plans to convert the property into a 79,668-square-foot storage facility that will contain 728 units. The $10.6-million project is scheduled …