ARVADA, COLO. – An 80,640-square-foot industrial building in Arvada has sold to an unnamed buyer for $5.1 million. The building is located at 5861 Tennyson Street. It is fully occupied by Priority Plastics. The buyer was represented by Pinnacle Real Estate Advisors.
RICHMOND, VA. — The Hampshire Cos., a private real estate investment firm, has sold a 317,400-square-foot warehouse, located at 5700 Audubon Drive in Richmond, to Easton & Associates. The warehouse has 26-foot clear ceiling heights, 15 dock overhead doors and one grade-level door. CBRE represented The Hampshire Cos. in the transaction.
BRIDGEVIEW, ILL. — Menasha Packaging has signed a 166,683-square-foot lease in Bridgeview, a southwest suburb of Chicago. The industrial property is located at 7770 West 71st St. Patrick McCaffrey and Rob Wheeler with Cresa Partners represented Menasha in the transaction. Steve Connolly and Chris Gary of NAI Hiffman’s Industrial Services team represented the landlord, ML Realty Partners. Menasha Packaging specializes in creating graphic packaging and merchandising products for retail, food and pharmaceutical applications.
CARROLLTON, TEXAS — Lee & Associates has arranged the lease of a 75,000-square-foot industrial building in Carrollton, a northern suburb of the Dallas/Fort Worth Metroplex. Polyair Corporation, a manufacturer of protective packaging, will occupy the warehouse facility. Ken Wesson, Adam Graham and Scott Alexander of Lee & Associates represented the landlord, Cobalt Capital Partners. Mark Becker and Dan Cook of Cushman & Wakefield represented the tenant.
SIMPSONVILLE, S.C. — Fitesa Simpsonville Inc., a nonwoven fabric solutions designer and manufacturer, will invest $50 million to upfit and remodel its existing 190,000-square-foot manufacturing facility. The property is located at 840 S.E. Main St. in Simpsonville. The investment is expected to generate at least 32 new jobs, which the company will begin to hire in the spring. Fitesa Simpsonville expects to finish the facility improvements in November 2014.
ORLANDO, FLA. — McCraney Property Co. has signed a contract to purchase a 39-acre industrial development site with more than 1,200 feet of Florida Turnpike frontage in metro Orlando. The industrial real estate developer plans to build Bent Oak Industrial Park, a 700,000-square-foot warehouse and distribution center complex. The property will feature 32-foot clear ceiling heights, ESFR sprinklers and trailer storage. McCraney plans to complete the industrial park in the third quarter of 2014. Matthew Sullivan, Wilson McDowell and Bobby Isola of Colliers International’s Central Florida office are marketing the new property.
IRVING, TEXAS — Cushman & Wakefield has arranged the lease of 53,547 square feet of industrial space in Irving for Monitronics International Inc., a provider of residential security equipment and services. The facility is located at 7880 Bent Branch Drive and originally constructed in 1996. Rick Hughes, Dean Collins and Mark Collins of Cushman & Wakefield represented the tenant in the negotiations, while Russ Johnson and Travis Gallivan with Peloton Commercial Real Estate represented the landlord, PS Business Park LP.
ATLANTA — Colliers International has closed two industrial leases in metro Atlanta totaling 425,627 square feet. MacPherson's, an art supplies distributor, leased 196,215 square feet of space at Shawnee Ridge Industrial Park in Suwannee. The company will consolidate its existing Atlanta space and its space in metro Chicago at the new location. Brent Weitnauer and Chip Watson of Avison Young represented the tenant in the lease deal. McLane Co. Inc., a grocery and food service supply chain solutions firm, renewed its 229,412-square-foot lease at 3500 Corporate Parkway in Forest Park. Bob Luttrell of Jackson & Cooksey represented the tenant in the lease deal. Darren Ross and Lee Cardwell of Colliers International's Atlanta office represented the landlord, James Campbell Co., a real estate investment firm based in Hawaii, in both lease transactions.
KENOSHA, WIS. — Amazon.com Inc. has announced plans to open a 1 million-square-foot fulfillment center in Kenosha, a southern suburb of Milwaukee. At the new facility, Amazon employees will pick, pack and ship small items to customers like books, electronics or consumer goods. KTR Capital Partners is building the project, which will create more than 1,000 full-time when it opens, according to Amazon. The Seattle-based online merchant's plans for the distribution center was publicly confirmed when the Kenosha Common Council on Oct. 7 approved a plan for the city to spend $17 million through a tax incremental financing district, according to the Journal Sentinel. That money will be repaid within an estimated seven years by the distribution center's new property taxes.
DEVENS, MASS. — Healthcare supplies manufacturer Nypro is moving into part of a 448,000-square-foot factory in Devens that was previously occupied by solar panel manufacturer Evergreen Solar. Nypro has signed a lease for 205,095 square feet at the industrial building, located at 112 Barnum Road, about 45 miles west of Boston. Two private equity firms, Los-Angeles-based Hackman Capital and Hudson, Mass.-based Calare Properties, bought the plant out of Evergreen's bankruptcy in April of last year for $8.5 million. Nypro will occupy approximately half of the building, while Saint-Gobain, a worldwide manufacturer of industrial crystals and ceramics systems, will continue to occupy the other half. Headquartered in Clinton, Mass., worker-owned Nypro was acquired in February by Jabil Circuit for $665 million, according to the Boston Business Journal.