BERKELEY, ILL. — NAI Hiffman has arranged the lease of 75,200 square feet of industrial space in Berkeley. Diversified Entities LLC will occupy space in a 218,749-square-foot building located at 5600 Proviso Drive. Diversified Entities plans to utilize the space for bulk commodity storage. The building is near I-294 and the Union Pacific Global II intermodal terminal in Northlake. Joe Bronson of NAI Hiffman and Colin Green and Larry Goldwasser of Cushman & Wakefield represented the landlord, Proviso Partners LLC, in the transaction. John Cash, David Haigh and Adam Naparsteck also of NAI Hiffman, represented Diversified Entities.
Industrial
PLAINFIELD, IND. — The Opus Group will begin renovation of a 280,000-square-foot industrial building in Plainfield this month. Airwest Building 9, which is in the Plainfield Business Center, is located north of I-70 near Indianapolis International Airport. Ford Motor Co. will use Airwest Building 9 as a distribution center for automotive parts. Building improvements include constructing an office area, expanding the dock capacity with new equipment and additional doors, new lighting and paint, and upgrades to the HVAC system. Construction is expected to be complete in August. Founders Properties LLC owns Airwest Building 9 and negotiated the lease with Ford Motor Co. Opus Design Build LLC managed the tenant improvement contract and will be the general contractor for the project. Opus AE Group LLC provided design services for the facility improvements.
BRIDGEPORT, CONN. — Deyulio Sausage Company has purchased 1501 State Street in Bridgeport for $1.35 million. The 13,715-square-foot industrial building was formerly owned and operated by Dari Farms Ice Cream Inc. The transaction also includes a 98-year land lease with the City of Bridgeport for an adjacent parcel. Jon Angel of Southport, Conn.-based Angel Commercial brokered the transaction.
NORWOOD, N.J. — Mahwah, N.J.-based GlobalSoft Digital Solutions has signed a long-term lease for 16,000 square feet at a six-building industrial complex in Norwood. GlobalSoft Digital Solutions will occupy space at 385 Chestnut St. for storage and distribution. The NAI James E. Hanson brokerage team represented the landlord, Alfred Sanzari Enterprises. Nina Bianco of NIA National Realty Inc. represented the tenant in the transaction.
FORT WORTH, TEXAS — Cassidy Turley has brokered a 38,550-square-foot industrial lease in Fort Worth for Southside Trim, which installs factory and aftermarket car upgrades. The tenant will occupy space at CentrePoint 4, located at 4300 Buckingham Road in the CentrePoint Business Park. Blake Anderson and David Eseke of Cassidy Turley represented Southside Trim in the negotiations.
TROY, MICH. — Colliers International has arranged the lease of a 24,062-square- foot industrial property in Troy. The property is located at 194 E. Maple Road. Ryan Brittain, Peter E. Kepic and Peter J. Kepic of Colliers International represented the tenant, Cadillac Coffee Company, in this lease transaction.
CARLSTADT, N.J. — Sitex has purchased five industrial buildings located on Barell Avenue in Carlstadt for an undisclosed price. The buyer plans to modernize and reposition the buildings to attract companies seeking space in the Meadlowlands submarket. Two of the five buildings are currently occupied. Jeffrey DeMagistris, Thomas Vetter and Nicholas Herrick of NAI Hanson represented the seller, R.J. Purcell Associates, in the transaction. Additionally, NAI Hanson has been retained to oversee leasing of the facilities, which range in size from 23,400 to 39,832 square feet.
PHOENIX — King Insulation has leased 18,478 square feet at Martin Van Buren Distribution Center in Phoenix. The center is located at 402 North 37th Drive. King Insulation was represented by Louis Finocchiaro of Cassidy Turley’s Industrial Services Group. The landlord, Presson Van Buren LLC, was represented by Todd Hamilton of Cutler Commercial.
ELGIN, ILL. — Gramercy Property Trust Inc. has acquired two industrial properties in Elgin, Ill. and Harrisburg, Pa. for $18.7 million. The Elgin property in metro Chicago is an 112,000-square-foot manufacturing facility. The property is leased through August 2028 with annual rent escalations to a global manufacturer of small, engineered metal components. The Harrisburg property is an 183,000-square-foot industrial warehouse. The property is leased through February 2025 with annual rent escalations to a subsidiary of a large multinational industrial company.Both properties are fully leased with a weighted average lease term of approximately 13 years. Year One net operating income for the two properties totals approximately $1.4 million, reflecting a 7.3 percent initial cap rate.
MELROSE PARK, ILL. — Chicago-based Sitex Group has completed the redevelopment of a two-building industrial complex in Melrose Park. The properties are located at 2680-2690 and 2800-2840 W. Lake St. The 170,920-square-foot building at 2800-2840 W. Lake St. can accommodate two tenants and features 4,500 square feet of office space, 22-foot clear heights and 12 exterior docks. The 102,153-square- foot multi-tenant building at 2680-2690 W. Lake St. can accommodate three tenants and features 22-foot clear heights and 18 exterior loading docks. Reconstruction of the properties included a substantial exterior renovation featuring a new façade, parking lots and landscaping. Sitex also upgraded the office space and installed high-efficiency lighting and new dock equipment inside the buildings. The complex is 72 percent occupied with several units currently being marketed. Sitex purchased the 273,073-square-foot complex from the Village of Bellwood in April 2013.