MALVERN, PA. — Malvern-based Liberty Property Trust has selected Cassidy Turley to manage its 6.2 million-square-foot industrial portfolio. The portfolio consists of 34 single- and multi-tenant buildings ranging in size from 30,000 to 500,000 square feet in Indianapolis, Cincinnati, Columbus, Ohio and Atlanta. The properties were part of a larger 23 million-square-foot, 177 property portfolio that Liberty acquired from Cabot Industrial in 2013. This is Cassidy Turley’s first property management assignment with Liberty. The management team includes Tim Michel, Jeff Wojciechowski and Melissa Day. Local property management will be provided by Rosalind Rainge in Atlanta, Erin Gibstine in Indianapolis, Doug Lance in Cincinnati and Michael Bloch in Columbus.
Industrial
NEW BRUNSWICK, N.J. — CBRE Group has brokered a 173,746-square-foot industrial renewal and expansion lease in New Brunswick. Prime Source Building Products will continue to occupy space at 14 and 20 Van Dyke Avenue as its Northeast distribution hub. The company renewed its lease for 84,824 square feet at 20 Van Dyke Ave. and expanded into 88,922 square feet at 14 Van Dyke Ave. Scott Belfer and Lou Belfer of CBRE represented the landlord, Van Dyke Associates, in the transaction.
DALLAS — Port Logistics Realty will develop Southport Logistics Park, a 531-acre distribution center complex in south Dallas designed to accommodate up to 9 million square feet of warehouse facilities. The first phase of construction, which will include two buildings totaling 1.5 million square feet, as well as infrastructure for the entire park, will begin in the third quarter. The project is located near the intersection of Fulghum Road and I-45, in proximity to the Union Pacific Intermodal Terminal. Kacy Jones, John Hendricks and Wilson Brown of CBRE will handle leasing at the property.
CASA GRANDE, ARIZ. — Kuehne + Nagel has signed a five-year lease for 201,666 square feet of warehouse and distribution space in Casa Grande. The facility is located at 2592 E. Hanna Road, just south of Chandler. The global logistics company’s new space sits adjacent to Interstate 10. The landlord, Clarion Partners, was represented by JLL’s Pat Harlan, Steve Sayre and Kyle Westfall.
ROCHESTER HILLS, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of a 26,310-square-foot industrial space in Rochester Hills, Mich. The property is located at 1949 Rochester Industrial Drive. Meridian Real Estate Investment LLC sold the space to Rochester Industrial Associates LLC. Phil Konopitski of Friedman represented the buyer in this transaction.
DALLAS — First Industrial Realty Trust has begun construction of First Pinnacle Industrial Center, a two-building, 598,000-square-foot industrial complex in Dallas. The Class A distribution facilities — one of 376,424 square feet and the other of 221,714 square feet — will each feature 32-foot clear heights and dock-high loading doors. Located on 49 acres at 1241 N. Cockrell Hill Road, the project is in proximity to I-20, I-35 and Loop 12. The facilities are expected to be ready for occupancy as early as the fourth quarter of this year. Terry Darrow and Nathan Orbin of JLL are leasing the property.
NEWARK, CALIF. — Futuris Automotive has leased a 160,000-square-foot industrial building in Newark. The Class A building is located at 6601 Overlake Place within the Prologis Overlake Industrial Center. The new facility has frontage on Highway 84. It was previously occupied by Staples. The landlord, Prologis, was represented by Greig Lagomarsino, Mark Maguire and Kevin Hatcher of Colliers’ Oakland office.
COLUMBIA, S.C. — NAI Avant has arranged the $5.3 million sale of a 105,000-square-foot Select Comfort distribution facility, located at 630 Western Lane in Columbia. Dail Longaker of NAI Avant represented the buyer, an unnamed investor, in the transaction.
MELROSE PARK, ILL. — Peak Construction Corp. will complete an office build-out and warehouse modifications on a 156,235-square-foot building for DHL Global Mail. The property is located near North and 25th avenues in Melrose Park, a western suburb of Chicago. KTR Capital Partners awarded Peak the tenant improvement project. Construction is set for completion in July.
FAIRFIELD, N.J. —Bussel Realty Corp. (BRC) has brokered the sale of an industrial flex facility located at 25 Dwight Place in Fairfield. Smart-MNLS LLC purchased the 33,484-square-foot property for $2.6 million from Ented Associates. Situated on 2.2 acres of land, the property features 4,000 square feet of office space, 20-foot ceiling heights, a loading dock and drive-in, 1,600 amps of power and parking for 90 cars. James Hodgkins of BRC represented the buyer in the transaction.