MISSOURI CITY, TEXAS — ICO Commercial has broken ground on Beltway Exchange at Colony Crossing, a 90,000-square-foot flex building in the Houston suburb of Missouri City. Located on Sam Houston Parkway near Beltway 8, Houston’s outer loop, the project is suited for one or multiple tenants. The tilt-wall facility will feature a rear-load truck court, 28-foot ceiling clear heights and numerous loading doors and ramps. Delivery is slated for August.
Industrial
PHOENIX — Cohen Asset Management has acquired a three-property industrial portfolio in Phoenix for $29 million. The portfolio includes three fully triple-net leased, single-tenant, high-tech assets that total 174,644 square feet. Microsemi occupies the 73,729-square-foot building at 3601 E. University, while FlipChip International occupies the adjacent 52,027-square-foot building at 3701 E. University in Phoenix. The buildings are located within the Southbank Business Park. MedPlast resides in the 48,908-square-foot building at 405 W. Geneva Drive inside the Broadway Industrial Park in Tempe. All three buildings have been institutionally maintained and managed. They were built between 1996 and 1998. Will Strong, Mike Haenel and Andy Markham of Cassidy Turley represented both the buyer and the seller, Alliance Commercial Partners, in this transaction.
VICTORVILLE, CALIF. — United Furniture Industries (UFI) has renewed its lease for 505,192 square feet at the Southern California Logistics Centre (SCLC) in Victorville. The 2,500-acre industrial and commercial complex is located off Phantom Street near the airport. The exclusive U.S. manufacturer of Simmons furniture upholstery signed on for another three years. UFI plans to expand its manufacturing and assembly lines to increase production. It will also hire 50 more employees. UFI has been a tenant of SCLC since 2012. In addition to UFI, Solar City Corporation has recently leased space at SCLC. Pacific Aviation Group also inked a renewal and expansion at the center. UFI was represented by Joe Brady of The Bradco Companies. The landlord, Stirling Capital Investments, was represented by CBRE’s Jay Dick.
PHOENIX — DCT Industrial Trust has acquired a 110,000-square-foot industrial building in Phoenix for $9 million. The building is located at 3405-3445 S. 5th Street. It is commonly referred to as 5th Street Industrial. JLL’s Mark Detmer and Bo Mills represented both the buyer and the seller, Clarion Partners, in this transaction.
SAN DIEGO — AltheaDx has leased a 69,808-square-foot corporate headquarters building at Torrey Ridge Science Center in San Diego. The building is located at 10578 Science Center Drive in Torrey Pines. AltheaDx will be relocating from nearby Sorrento Valley in the first quarter of next year. It was represented by Ted Jacobs, Brent Jacobs and Greg Bisconti of Cushman & Wakefield. The landlord, Legacy Partners, was represented by Rich Danesi and Ryan Egli of the CBRE Life Sciences group.
EAST TEXAS, PA. — Smooth-On Inc. has acquired 5700 Lower Macungie Road in East Texas for $3.5 million. Located in the Lehigh Valley region, the 358,000-square-foot property features 10 interconnected industrial and flex buildings with ceilings ranging from 16 to 22 feet. Additionally, the 31-acre property site offers more than 740 parking spaces. Smooth-On plans to expand and relocate from its current location in Easton, Pa. Mike Adams of NAI Summit represented the buyer in the transaction. The seller, Day-Timer, a division of ACCO Brands, was represented by the Cushman & Wakefield team of Gerry Blinebury, Patrick McBride, Adam Campbell, Leah Balerno, Marie Connell, Lou Hall and Daniel Wilkins.
HOUSTON — Copeland Commercial LLC, in a joint venture with Hillwood Investment Properties, will break ground next month on the 414,106-square-foot first phase of Interstate Commerce Center, a planned 717,706-square-foot office and industrial park in Houston. The first phase of the development, slated for completion in the fourth quarter of this year, will include a 284,170-square-foot cross-dock building with 32-foot ceiling clear heights, as well as a 129,936-square-foot front-load building. Interstate Commerce Center will be located south of FM 1960, in proximity to I-45 and the George Bush Intercontinental Airport. Stream Realty Partners will manage and lease the complex.
MOORESVILLE, N.C. — Colliers International has brokered the sale of a 51,200-square-foot industrial facility located at 225 Mooresville Blvd. in Mooresville, about 27 miles north of Charlotte. Michael Yamada of Colliers International’s Detroit office, along with Don Moss of the firm’s Charlotte office, represented the seller, Toyo Seal America Corp., in the transaction. Moss and Chuck Salley of Colliers International’s Columbia, S.C., office represented the buyer, Reger Holdings LLC. The property was formerly used as a manufacturing facility for plastic seals.
VERNON, CALIF. — H.C. Foods Company Ltd. has leased 47,813 square feet at a cold-storage industrial facility in Vernon. The 88,000-square-foot facility is located at 2939 S. Sunol Drive. It was built in 2005. The five-year lease is valued at $4.2 million. The Asian food products commercial distributor was represented by Phil Norton of Colliers and Jeff Hubbard of Lee & Associates. The landlord, Sunol Properties LLC, was represented by Jack Cline and Doug Cline of Lee & Associates.
LOS ANGELES — Sears Logistics Services Inc. (SLS) has leased an 85,418-square-foot warehouse and distribution building in the north San Fernando Valley. The space is located at 14090 Balboa Blvd. in the Los Angeles submarket of Sylmar. The five-year lease is valued at $3.1 million. John DeGrinis, Patrick DuRoss and Jeff Abraham of Colliers represented both the supply chain and delivery company for Sears, Roebuck & Co. and the landlord, Skypark Industrial Project LLC.