CHICAGO — NAI Hiffman has arranged a new lease on a 177,413-square-foot industrial space for Ideal, a Chicago-based manufacturer of point-of-purchase merchandise displays, with Silver Beauty, a company that builds and leases warehouses.Ideal will use the space, located at 5800 W. 51st St. on Chicago’s southwest side, as an additional distribution warehouse. Ideal’s new space is in close proximity to the company’s existing headquarters at 4800 South Austin Ave. Graham Packaging, a manufacturer of blow-molded plastic containers, previously occupied 350,000 square feet at the complex. However, the company is consolidating its operations and needed a tenant to sublease some of its space. Larry Much of NAI Hiffman represented Ideal in the transaction. Sally Macoicz of Cushman & Wakefield represented Silver Beauty.
Industrial
STOCKTON, CALIF. – A joint venture between USAA Real Estate Company and Seefried Properties has acquired a two-property industrial portfolio in Stockton for a reported $51.5 million. The portfolio includes a 750,561-square-foot building inside the Newcastle Logistics Center, which is located at 4650 Newcastle Road, and a 165,474-square-foot building inside the Performance Logistics Center at 834 Performance Drive. The 916,035-square-foot portfolio was developed between 2008 and 2009. Both buildings are occupancy-ready, institutional-grade bulk distribution centers. The JV purchased the portfolio in a bankruptcy process. USAA was represented by Tyson Vallenari, Blake Rasmussen, Kevin Dal Porto and Ryan McShane of CBRE’s Industrial Real Estate team. The team also serves as the leasing agents for both properties.
HOUSTON — CBRE has arranged the construction financing for Airtex Distribution Center, a 225,360-square-foot warehouse to be located at 300 W. Airtex Blvd. in Houston. International Airport Centers (IAC), an owner, manager and developer of warehouse and distribution facilities, is the developer on the project and broke ground earlier this month. The Class A property will feature 32-foot clear heights, trailer parking, T-5 lighting and ESFR sprinklers. Powers Brown Architecture designed the facility, and Satterfield & Pontikes is providing construction services. Tom Lynch and John Fenoglio of CBRE arranged the financing. Ed Frantz and Faron Wiley, also of CBRE, will lease the property.
CARROLLTON, TEXAS — Billingsley Co. has leased 34,482 square feet of warehouse space in the Dallas suburb of Carrollton to Professional Plastics. The tenant will occupy space at 2060 Luna Road Suite 120, within Billingsley’s Luna Road Distribution Center. Mike Gravitt of Mike Gravitt & Co. represented Professional Plastics, which will move into the facility in the third quarter of this year.
ORLANDO, FLA. — McCraney Property Co. has signed a 10-year lease for a 200,000-square-foot build-to-suit in its Bent Oak Industrial Park project in Orlando. The tenant, national apparel distributor Bodek and Rhodes, will relocate from its current Orlando warehouse and expand from 140,000 square feet to 200,000 square feet. Construction of the 700,000-square-foot Bent Oak Industrial Park is slated to begin within the next 45 days with occupancy expected to begin in December. Matthew Sullivan, Wilson McDowell and Bobby Isola of Colliers International represented McCraney Property Co. in the lease negotiation. McCraney’s in-house team on the transaction included Steven McCraney, James Marvel and Andrew Jacobson. Scott Williamson and Rick Schuhwerk of JLL represented Bodek and Rhodes, which was also self-represented by Rich Weisbrod.
ASHLAND, MASS. — Parsons Commercial Group Inc. (PCG) has completed the $1.9 million sale of 60 Pleasant Street, a 73,475-square-foot industrial warehouse facility in Ashland. Garrett Quinn of PCG represented the buyer, Sixty Pleasant Realty LLC, in this transaction and will continue as the leasing agent for the property. Richard Putprush of REP Realty Advisors represented the seller, Gamewell Realty Inc., in the transaction.
ALVIN, TEXAS — Boyd Commercial/CORFAC International has brokered the sale of a 12,000-square-foot industrial property in the Houston suburb of Alvin. Located on 3.5 acres at 2220 N. Gordon St., the facility is in proximity to the interchange of State Highway 35 and State Highway 6. Conrad Bernard of Boyd Commercial/CORFAC International represented the seller, CDE Real Estate Corp., in the transaction. Jerry Turboff of Prime Capital Corp. represented the buyer, Vanguard Truck Center.
WESTMINSTER, CALIF. — Harley Davidson has leased three industrial buildings in the Orange County submarket of Westminster. They are located at 15044, 15051, and 15080 Goldenwest Circle. The new space, which totals 41,939 square feet, will serve as the new Harley Davidson showroom. The ten-year lease was valued at $3.7 million. The lease transaction was executed by Mike Bouma and Paul Caputo of Voit Real Estate Services’ Anaheim office.
DALLAS — Mercer Co. has arranged a 48,000-square-foot industrial lease near the Design District of Dallas for Precision Delivery Services (PDS), which offers temperature-controlled storage for interior designers and architectural firms, as well as art installation, delivery and pickup services. The warehouse property is located at 1210 Inwood Road. Jeremy Mercer of Mercer Co. represented PDS in the negotiations and also arranged upgrades to the building’s HVAC systems with the unnamed landlord.
DALLAS — Henry S. Miller Brokerage has arranged a 16,000-square-foot industrial lease in Dallas for Lone Star Parade Float Co. Located at 2716 N. Westmoreland Ave., the facility is in proximity to I-30 and the city’s downtown area. Lone Star Parade Float Co., a family-owned business serving the state for more than 25 years, provides store displays and prop rentals in addition to parade floats. Huntley Luna of Henry S. Miller represented the tenant in negotiations with the landlord, Electrip Co. LP.