WHEELING, ILL. — Meridian Design Build LLC has begun renovation work on a 147,006-square-foot industrial building to create a state-of-the-art sorting and distribution center in Wheeling, a northern suburb of Chicago. The distribution center, which is being developed for an undisclosed national package delivery company, is located near the Chicago Executive Airport. The facility will include a 139,693-square-foot package sorting and distribution center and 7,300 square feet of office space. Site modifications will be made to accommodate 23 exterior trailer positions, 34 van storage positions, and a 129-car employee parking lot. In addition, six new loading docks and five drive-in doors will be added at the facility. The project is being completed on a design/build basis. Illinois-based Cornerstone Architects Ltd. will provide architectural services for the building and Spaceco Inc. of Rosemont, Ill. will conduct civil engineering work. Indianapolis-based Scannell Properties is the developer for the project.
Industrial
ARLINGTON, TEXAS — Colliers International has arranged an 821,502-square-foot industrial lease in Arlington for home goods retailer Williams-Sonoma Inc. The tenant will use the property, which is located at 4900 Sherry St., as a distribution center. Exeter Property Group constructed the facility last year on a speculative basis. Tom Pearson and Chris Teesdale of Colliers International represented Williams-Sonoma in the negotiations. Dave Anderson of CBRE represented the Exeter Group.
HOUSTON — NAI Houston has brokered the sale of two industrial properties in Houston totaling 18,000 square feet. The facilities include a 6,000-square-foot structure at 13727 FM 529 and a 12,000-square-foot structure at 13731 FM 529. The buildings are part of Atco Industrial Park, which is located along FM 529 between North Eldridge Parkway and Jackrabbit Road. John Ferruzzo of NAI Houston represented the buyer, 13727-13731 FM 529 LLC, in the transaction. Eric Hughes of Centermark Commercial Real Estate represented the seller, ATCO-Valley Plaza LLC.
LOS ANGELES – The Clean Tech Manufacturing Center, a 370,000-square-foot industrial campus in Downtown Los Angeles, has broken ground. The Class A campus is located within the Central Industrial Redevelopment Plan area. The brownfield is situated within 0.5 miles of Interstates 5 and 10, as well as the 60 Freeway. The three-building campus will offer the largest contiguous industrial space in Downtown. All three buildings are pursuing LEED for New Construction Silver certification. Construction is expected to be complete later this year. Fashion manufacturer Ambiance USA has agreed to relocate and expand its world headquarters at the new facility. The campus is being developed by a joint venture between Trammell Crow Company and Principal Real Estate Investors. The lender is Wells Fargo Bank.
ANAHEIM, CALIF. – Rangar West Two LLC has acquired a 209,715-square-foot industrial building in Anaheim for $27.3 million. The newly built property is located at 2201 E. Cerritos Ave. It was completed this past December. The building was developed by Western Realco and Penwood Real Estate, which were represented by Jeff Read and Greg Osborne of Newmark Grubb Knight Frank. The JV acquired the land parcel from Neville Chemical Corporation in February 2012. The third-party logistics firm was represented by Todd Clarke of Kidder Matthews and Peter Castleton of Voit Real Estate Group.
BOLINGBROOK, ILL. — Iris Construction Services has completed the build-out of a new distribution center for the Chicago Tribune. The 20,000 square foot facility is located at 1000 Crossroads in Bolingbrook. The facility will house core services and inserting services for the Tribune’s existing network. Iris Construction Services completed work on a fully finished office, drive-in-door, lighting and power for the facility. The build was completed ahead of the 60-day project deadline. Midwest Industrial Funds owns the building.Chris Porter of Cushman & Wakefield represented the Chicago Tribune in the transaction. Jeff Galante of Lee & Associates worked on behalf of Midwest Industrial Funds. MRSA Architects provided architectural services for the project.
WARREN, MICH. — Colliers International has arranged the $900,000 sale of a 151,953-square-foot warehouse in Warren, which is approximately 19 miles north of downtown Detroit. The property is located at 21001 & 21033 Groesbeck Highway. The warehouse was the former headquarters for Gardner White Furniture. Raffi Derbabian of Colliers represented the buyer, Safa Dabish, who will use the building for a food business.
NEW YORK CITY — Marcus & Millichap has arranged the sale of 150 52nd St., a 123,785-square-foot, two-story industrial building on New York Bay in the Sunset Park neighborhood of Brooklyn. The $19.5 million sale price equates to $157 per square foot — and $2.7 million over the asking price. Jakub Nowak and Hemal Patel of Marcus & Millichap represented the seller, 150 52nd Street LLC, a national private equity partnership. Located between First Avenue and Second Avenue and occupying most of the block it stands on, 150 52nd St. is within the Southwest Brooklyn Industrial Business Zone and near the Bush Terminal Pier Park green space and sports field development. The location is also inside the New York City Economic Development Corp.’s Sustainable Urban Industrial District, which is part of the city’s Sunset Plan Park Vision aimed at promoting investment and development in the Sunset Park waterfront industrial area. Access to the Brooklyn-Queens Expressway is nearby. The property has short-term leases in place. By 2018, 90 percent of the space will be available and all current leases and renewals expire in 2021. This gives the buyer the opportunity to add value through redevelopment and increasing rents. However, the current …
ANAHEIM, CALIF. – A 40,000-square-foot industrial building in Anaheim has sold to an unnamed buyer for $6 million. The facility is located at 1369 S. State College Blvd. The seller, The 2013 Diablo Charitable remainder Annuity Trust and Cure International Inc., was represented by Mitch Zehner and Seth Davenport of Voit’s Anaheim office.
TAMPA, FLA. — Mark Scott’s Commercial Mortgage Capital (CMC) has arranged a $16.1 million loan for Independence Realty’s flex portfolio in Tampa. The three facilities include the 95,761-square-foot, three-building Corporex Plaza; the 75,378-square-foot, two-building Brandywine Business Center; and the 42,655-square-foot, two-building President’s Plaza. CMC arranged the 10-year, non-recourse loan with a fixed interest rate and a 30-year amortization schedule.