SAN LEANDRO, CALIF. – An 85,089-square-foot food manufacturing warehouse in San Leandro has sold to Berber Food Manufacturing, Inc, dba Mi Rancho, for an undisclosed sum. The warehouse is located at 427 Hester Street. Mi Rancho is a local family business that produces and distributes tortillas. The seller, Lowenberg Corporation, was represented by Greig Lagomarsino of Colliers International’s Oakland office. Financing was provided by Tom Signorelli with Westgate Financial.
Industrial
RIVERSIDE, MO. — Lee & Associates has arranged the long-term, build-to-suit lease of an industrial building for Martinrea International in Riverside, which is located approximately seven miles north of Kansas City. The Canadian auto-parts supplier will occupy 275,560 square feet of space at 5233 N.W. 41st St in the Riverside Horizons Business Park. The industrial facility is set for completion by early 2015. The Tutera Group, Crossland Construction and Davidson Architecture & Engineering are developing the building. Erik Murray and Nathan Anderson of Lee & Associates Kansas City negotiated the lease.
DULUTH, MINN. — The Duluth Seaway Port Authority has approved the sale of approximately 8.6 acres of land at Duluth Airpark in Duluth for United Piping Inc. The company will use the land to expand its existing operations at the Airpark as it continues to serve customers in the oil and gas industry. Duluth Airpark is a modern, 300-acre light industrial/commercial park, with shovel-ready lots ranging from one to five acres. The Duluth Seaway Port Authority manages the Airpark. The authority is an independent public agency created under a Minnesota state statute to promote trade development and to expand and improve facilities that foster economic development within the Port of Duluth-Superior.
LOS ANGELES — The Magellan Group has recently closed on three acquisition and development transactions in Southern California. The company is also in escrow on a fourth investment that should close in May. The transactions include the acquisition of a 14-acre site at 1869-2069 Massachusetts Ave. in Riverside for $6.5 million, and a 4.8-acre site at 5115 Azusa Canyon in Baldwin Park for $4 million. The Riverside site currently contains a fully leased manufacturing building and yard area. Magellan plans to redevelop the property and add new industrial space as these leases expire over the next five years. The Baldwin Park site contains three buildings that total 70,000 square feet. They are currently leased on short-term bases. Magellan also plans to redevelop this site once the leases expire. Construction will also commence next month on a building conversion in Duarte. Magellan purchased the building, which used to serve as the building site for the Tournament of Roses parade floats, in March 2013 for an undisclosed sum. The building is located at the intersection of Buena Vista and Duarte Road. Magellan plans to convert the property into a 79,668-square-foot storage facility that will contain 728 units. The $10.6-million project is scheduled …
AUBURN HILLS, MICH. — Colliers International has brokered the sale of a 20,500- square-foot industrial building in Auburn Hills approximately 30 miles north of Detroit. The property is located at 1160 Centre Road. John Lominack of Colliers represented the seller, Knight Industries & Associates Inc., in the transaction. Friedman Integrated Real Estate Solutions represented the buyer, Nobel Automotive Group.
FAIR LAWN, N.J. — Suan Farma Inc. has purchased an industrial building at 17-09 Zink Place in Fair Lawn for $2 million. The 20,316-square-foot Class B manufacturing facility was constructed in 1978 and underwent extensive renovations in 2007. The company will relocate to the facility from its current location in Hackensack, N.J. Steven Leitner of New Jersey-based NAI James E. Hanson represented the buyer in the transaction. The seller was not disclosed.
FORT WORTH, TEXAS — Mercer Co. has brokered the sale of a 20,000-square-foot industrial property in Fort Worth. Bargreen Ellingson, a multi-service restaurant supply, design and fabrication company, purchased and will occupy the building. The company will relocate from a smaller Fort Worth location to the new facility, which features 22-foot clear heights and is located at 2450 Handley Ederville Road. Matt Spellman of Mercer Co. represented Bargreen Ellingson in the transaction. Transwestern represented the seller, GPS DFW Holdings LLC.
SUGAR LAND, TEXAS — Boyd Commercial/CORFAC International has arranged a 11,565-square-foot industrial lease in the Houston suburb of Sugar Land for Integrity Measurement & Control Inc., an equipment manufacturer serving the oil and gas industries. The tenant will occupy space within a multi-tenant facility located at 525 Julie Rivers Drive. Bo Pettit of Boyd Commercial/CORFAC International represented the tenant in the negotiations. Jon Michael and Ed Bane of NAI Houston represented the landlord, Reed Road AB Mayfield LLC.
ST. AUGUSTINE, FLA. — NAI Realvest has arranged the $3.5 million sale of a 145,500-square-foot industrial property located at 3200 Parker Drive in St. Augustine. Paul Partyka of NAI Realvest represented the buyer, Panther Ideal Holdings LLC, in the transaction. Gary Marcy of CBRE’s Jacksonville office represented the seller, St. Augustine Holdings LLC. The buyer will be moving its Ideal Aluminum operations to the facility, bringing 90 to 100 jobs to the area.
MINNEAPOLIS AND MILWAUKEE — Brennan Investment Group LLC has acquired a four-property industrial portfolio for $20 million. The portfolio includes three properties in the Minneapolis/St. Paul metropolitan area and one property in Milwaukee. Steve Lysen and Curt Smith of CBRE were the brokers involved in the transaction.