RENO, NEV. — Dermody Properties has broken ground on a 624,000-square-foot warehousing and distribution building in Reno. The facility represents the first phase of LogistiCenter 395, a 91-acre, master-planned industrial park that will be located on Lemmon Drive near Highway 395 in northern Reno. The three-building park will be built by United Construction Company. Phase I is scheduled for completion this fall. Once fully completed, LogistiCenter 395 will contain a total of 1.2 million square feet. PCCP LLC is acting as Dermody’s strategic capital partner on the project. CBRE will serve as the facility’s broker.
Industrial
HOFFMAN ESTATES, ILL. — J.C. Anderson Inc. will complete a 70,000-square-foot, three-floor office build-out for Omron Corp., a Japanese-based industrial automation company, in Hoffman Estates a northwest suburb of Chicago. Omron is relocating its North and South America Group corporate offices from Schaumburg, Ill. to the Greenspoint Office Park. Omron will occupy the first three floors of the office building, which is located at 2895 Greenspoint Pkwy. The project is expected to take 10 weeks to complete and will include the build-out of open office areas, private offices and conference rooms. The space will feature high-end finishes, wood slat ceilings and decorative metal screens throughout. The building will also have a training center, fitness room, lunchroom and laboratory facilities. Tom Raveret and Marty Powers of J.C. Anderson and Gensler are providing architectural services for the project. Construction is scheduled for completion in June. Andrea VanGelder and Sean Reynolds with JLL represented Omron in the relocation.
CHANDLER, ARIZ. – A 104,352-square-foot manufacturing facility in Chandler has sold to Grupo Phoenix for $6 million. The facility is located at 464 E. Chilton Drive. It is fully occupied by the buyer. The seller, Primrose Properties Ltd., was previously represented in the lease transaction by Mike Parker and Evan Koplan of CBRE’s Phoenix office.
FREDERICKSBURG, VA. — NAI KLNB has brokered the $2.3 million sale of a 55,000-square-foot, single-story warehouse building at 4406 Overview Drive in Fredericksburg. The buyer, Tobacco Road 2012 LLC, purchased the property from Baltimore-based Northeast Foods, a bread manufacturer. The property features 16 loading docks with 28-foot clear ceiling heights and 10,000 square feet of freezer space. John Milligan and Andy Georgelakos of NAI KLNB represented the seller in the transaction. George Kolentsi of Gatehouse Realty represented the buyer.
CHICAGO — NAI Hiffman has arranged a new lease on a 177,413-square-foot industrial space for Ideal, a Chicago-based manufacturer of point-of-purchase merchandise displays, with Silver Beauty, a company that builds and leases warehouses.Ideal will use the space, located at 5800 W. 51st St. on Chicago’s southwest side, as an additional distribution warehouse. Ideal’s new space is in close proximity to the company’s existing headquarters at 4800 South Austin Ave. Graham Packaging, a manufacturer of blow-molded plastic containers, previously occupied 350,000 square feet at the complex. However, the company is consolidating its operations and needed a tenant to sublease some of its space. Larry Much of NAI Hiffman represented Ideal in the transaction. Sally Macoicz of Cushman & Wakefield represented Silver Beauty.
STOCKTON, CALIF. – A joint venture between USAA Real Estate Company and Seefried Properties has acquired a two-property industrial portfolio in Stockton for a reported $51.5 million. The portfolio includes a 750,561-square-foot building inside the Newcastle Logistics Center, which is located at 4650 Newcastle Road, and a 165,474-square-foot building inside the Performance Logistics Center at 834 Performance Drive. The 916,035-square-foot portfolio was developed between 2008 and 2009. Both buildings are occupancy-ready, institutional-grade bulk distribution centers. The JV purchased the portfolio in a bankruptcy process. USAA was represented by Tyson Vallenari, Blake Rasmussen, Kevin Dal Porto and Ryan McShane of CBRE’s Industrial Real Estate team. The team also serves as the leasing agents for both properties.
HOUSTON — CBRE has arranged the construction financing for Airtex Distribution Center, a 225,360-square-foot warehouse to be located at 300 W. Airtex Blvd. in Houston. International Airport Centers (IAC), an owner, manager and developer of warehouse and distribution facilities, is the developer on the project and broke ground earlier this month. The Class A property will feature 32-foot clear heights, trailer parking, T-5 lighting and ESFR sprinklers. Powers Brown Architecture designed the facility, and Satterfield & Pontikes is providing construction services. Tom Lynch and John Fenoglio of CBRE arranged the financing. Ed Frantz and Faron Wiley, also of CBRE, will lease the property.
CARROLLTON, TEXAS — Billingsley Co. has leased 34,482 square feet of warehouse space in the Dallas suburb of Carrollton to Professional Plastics. The tenant will occupy space at 2060 Luna Road Suite 120, within Billingsley’s Luna Road Distribution Center. Mike Gravitt of Mike Gravitt & Co. represented Professional Plastics, which will move into the facility in the third quarter of this year.
ORLANDO, FLA. — McCraney Property Co. has signed a 10-year lease for a 200,000-square-foot build-to-suit in its Bent Oak Industrial Park project in Orlando. The tenant, national apparel distributor Bodek and Rhodes, will relocate from its current Orlando warehouse and expand from 140,000 square feet to 200,000 square feet. Construction of the 700,000-square-foot Bent Oak Industrial Park is slated to begin within the next 45 days with occupancy expected to begin in December. Matthew Sullivan, Wilson McDowell and Bobby Isola of Colliers International represented McCraney Property Co. in the lease negotiation. McCraney’s in-house team on the transaction included Steven McCraney, James Marvel and Andrew Jacobson. Scott Williamson and Rick Schuhwerk of JLL represented Bodek and Rhodes, which was also self-represented by Rich Weisbrod.
ASHLAND, MASS. — Parsons Commercial Group Inc. (PCG) has completed the $1.9 million sale of 60 Pleasant Street, a 73,475-square-foot industrial warehouse facility in Ashland. Garrett Quinn of PCG represented the buyer, Sixty Pleasant Realty LLC, in this transaction and will continue as the leasing agent for the property. Richard Putprush of REP Realty Advisors represented the seller, Gamewell Realty Inc., in the transaction.