TROY, MICH. — Colliers International has arranged the sale of a 32,375-square-foot industrial space in Troy approximately 20 miles north of Detroit. The building is located at 1783-1801 Thunderbird Drive. Peter E. Kepic, Peter J. Kepic and Ryan Brittain of Colliers represented the seller, Reliable Holding Co. Inc., in the transaction. Raffi Derbabian of Colliers represented the undisclosed buyer.
Industrial
CLIFTON, N.J. — Cushman & Wakefield has arranged a 75,000-square-foot industrial lease for Global Experience Specialists (GES) at 203 Kuller Road in Clifton. Known globally as GES, the producer of trade shows, exhibits, events, retail spaces and entertainment experiences will relocate its New York metro area operation within the Northern New Jersey marketplace. Stephen Elman, Jules Nissim and Stan Danzig of Cushman & Wakefield’s East Rutherford, N.J., office represented GES in the transaction. Noah Balanoff and Tom Monahan of CBRE represented landlord, Prologis. The multi-tenant warehouse facility totals 330,000 square feet.
HOUSTON — NAI Houston has arranged a 102,000-square-foot industrial lease in Houston for Niavo Gulf Industries Inc., a manufacturer of cryogenic tanks used in the oil and gas industries. The tenant will occupy the property located at 12300 Amelia Drive, which is situated in the southern suburbs near State Highway 288. Clay Pritchett of NAI Houston represented the landlord, National Property Holdings LP, in the negotiations. LeDon Wissner and Carolyn Fincher of Smith Raines Co. represented Niavo Gulf Industries.
LOS ANGELES — Sitex Group, a fully integrated private equity firm that specializes in industrial real estate investments in major U.S. markets, has opened an office in Los Angeles. The firm’s Southern California operations will be run by Eric Ruehle, a former vice president of investments at CenterPoint Properties. The expansion will allow the firm to diversify its portfolio by acquiring industrial properties via established local relationships. Sitex’s new office will be located at 1500 Rosecrans Ave. in Manhattan Beach. It is the firm’s third office in the U.S. and its first on the West Coast.
SPARTANBURG, S.C. — Cushman & Wakefield’s capital markets group has brokered the sale of the Adidas U.S. Distribution Center, a 1.9 million-square-foot distribution campus in Spartanburg, for an undisclosed price. Stewart Calhoun, David Meline, Samir Idris and Casey Masters of Cushman & Wakefield’s Atlanta office, along with Chris Norvell and Brian Young of the Carolinas Cushman & Wakefield | Thalhimer’s capital markets group, represented the sellers, Real Estate Capital Partners and IVG Institutional Funds. The buyer was undisclosed.
HANOVER, MD. — Terreno Realty Corp. has purchased a 159,000-square-foot industrial property in Hanover for approximately $18 million. The asset is located at 7190 Parkway Drive, about three miles away from the Baltimore/Washington International Airport. The asset includes 32 loading docks, trailer storage and parking for 207 cars. The property is fully leased to two tenants. The seller was undisclosed.
RENO, NEV. — Dermody Properties has broken ground on a 624,000-square-foot warehousing and distribution building in Reno. The facility represents the first phase of LogistiCenter 395, a 91-acre, master-planned industrial park that will be located on Lemmon Drive near Highway 395 in northern Reno. The three-building park will be built by United Construction Company. Phase I is scheduled for completion this fall. Once fully completed, LogistiCenter 395 will contain a total of 1.2 million square feet. PCCP LLC is acting as Dermody’s strategic capital partner on the project. CBRE will serve as the facility’s broker.
HOFFMAN ESTATES, ILL. — J.C. Anderson Inc. will complete a 70,000-square-foot, three-floor office build-out for Omron Corp., a Japanese-based industrial automation company, in Hoffman Estates a northwest suburb of Chicago. Omron is relocating its North and South America Group corporate offices from Schaumburg, Ill. to the Greenspoint Office Park. Omron will occupy the first three floors of the office building, which is located at 2895 Greenspoint Pkwy. The project is expected to take 10 weeks to complete and will include the build-out of open office areas, private offices and conference rooms. The space will feature high-end finishes, wood slat ceilings and decorative metal screens throughout. The building will also have a training center, fitness room, lunchroom and laboratory facilities. Tom Raveret and Marty Powers of J.C. Anderson and Gensler are providing architectural services for the project. Construction is scheduled for completion in June. Andrea VanGelder and Sean Reynolds with JLL represented Omron in the relocation.
CHANDLER, ARIZ. – A 104,352-square-foot manufacturing facility in Chandler has sold to Grupo Phoenix for $6 million. The facility is located at 464 E. Chilton Drive. It is fully occupied by the buyer. The seller, Primrose Properties Ltd., was previously represented in the lease transaction by Mike Parker and Evan Koplan of CBRE’s Phoenix office.
FREDERICKSBURG, VA. — NAI KLNB has brokered the $2.3 million sale of a 55,000-square-foot, single-story warehouse building at 4406 Overview Drive in Fredericksburg. The buyer, Tobacco Road 2012 LLC, purchased the property from Baltimore-based Northeast Foods, a bread manufacturer. The property features 16 loading docks with 28-foot clear ceiling heights and 10,000 square feet of freezer space. John Milligan and Andy Georgelakos of NAI KLNB represented the seller in the transaction. George Kolentsi of Gatehouse Realty represented the buyer.