SCHAUMBURG, ILL. — GN Otometrics has signed a 8,857-square-foot, long-term lease at 50 E. Commerce Drive in Schaumburg, located about 30 miles northwest of Chicago. GN Otometrics, a manufacturer of hearing and balance instrumentation and software, uses the facility as its North American headquarters. Dan O’Neill and Jim Adler, both executive vice presidents with NAI Hiffman’s office services group, represented GN Otometrics in the transaction. Peter Kelly of Lincoln Property Co. represented the landlord, First American Properties.
CLARK, N.J. — The Feil Organization has hired Atlantic Real Estate Services to market the 235,714-square-foot former L’Oréal manufacturing facility in Clark, a southern suburb of Newark. The flex property, which is located at 200-222 Terminal Ave., features approximately 17,587 square feet of air-conditioned office space with private offices, a boardroom and cafeteria. An estimated 166,591 square feet is air-conditioned manufacturing space, which was previously used by L’Oréal in the production of liquid and cream hair dyes and conditioners. The 51,536-square-foot warehouse has a 20-foot clear ceiling height with 15 loading docks and one drive-in door. The property is priced at $13.5 million for sale or $5.75 per square foot for a triple-net lease.
ROBINSON, TEXAS — The Waco Industrial Foundation (WIF) has purchased approximately 634 acres of land in Robinson from Dove Hill Partners LP. The tract is located at the southeastern corner of Interstate 35 and South Loop 340/State Highway 6. The land has 2,300 feet of footage along the interstate. H. Bland Cromwell of Coldwell Banker Commercial | Jim Stewart, Realtors. Jason Cooper of Dallas-based Cooper Real Estate Advisors LLC assisted in the transaction. WIF manages a $37.5 million real estate portfolio of industrial facilities. WIF will use the new land to provide industrial sites for prospective clients.
ELLISVILLE, MISS. — Pure Development has completed construction for a $56 million manufacturing plant for GE Aviation in Ellisville. The 340,000-square-foot facility manufactures advanced composite components for aircraft engines and systems. GE Aviation will employ 250 people at the plant by 2017. It marks the second project Pure Development has completed for GE Aviation in Mississippi. Pure developed another facility in Batesville that opened in 2008.
JESSUP, HALETHORPE AND COLUMBIA, MD. — CB Richard Ellis (CBRE) has arranged the sale of a 705,379-square-foot industrial portfolio in the I-95 corridor between Baltimore and Washington, D.C. The portfolio contains three Maryland properties situated at 8210 Wellmoor Court in Jessup, 4615 Hollins Ferry Road in Halethorpe and 9325 Snowden River Pkwy. in Columbia. The portfolio was 95 percent leased at the time of closing. The CBRE team of Jonathan Beard, Bo Cashman and John Boote represented the undisclosed seller. The buyer was MIM-Hayden Real Estate Funds.
WEST CALDWELL, N.J. — Terreno Realty Corp. (NYSE:TRNO) has acquired an industrial property located in West Caldwell, an eastern suburb of Parsippany, for $6.8 million. The property includes one multi-tenant 93,000-square-foot distribution building situated on 8.9 acres. The building is located at 1 Dodge Drive and is fully leased to a wholesale distributor of electrical products. The estimated stabilized capitalization rate of the property is 9 percent.
CARY, N.C. — Colliers International has completed the sale of a flex industrial property in Cary. The 72,000-square-foot building is situated on 9.5 acres at 312 Gregson Drive. The buyer, Triad Educational Services, plans to renovate the property and open a school in it this fall. Triad also operates the Triangle Math & Science Academy charter school in downtown Raleigh. Lee Holder and Frank Quinn, both of Colliers, represented the seller, Saia-Burgess. The acquisition price was not released.
PHOENIX — Weber Distribution LLC has renewed its lease for 48,000 square feet at Tolleson Commerce Park II in Phoenix. The park is located at 5 South 84th Ave. in the Phoenix submarket of Tolleson. Weber has occupied this space since 2001. The landlord is Chambers Street Properties.
ROANOKE, VA. — Monmouth Real Estate Investment Corp. has purchase a 104,402-square-foot, built-to-suit industrial building in Roanoke for $10.2 million. The building is situated on approximately 22 acres at 1935 Blue Hills Drive near Roanoke Regional Airport and Interstate 81. FedEx Ground Package System holds a 10-year net lease on the property. The seller’s name was not released.
MIAMI — Miller Construction Co. has commenced construction for a new industrial project within Miami’s Flagler Station business park. Building 31 will contain 171,944 square feet of warehouse space. It will feature 54-foot column spacing, 30-foot clear ceiling heights and dock-high loading bays. Miller has completed site improvements and is building the tilt-wall structure on an expedited schedule for owner Flagler Development that will have the project complete by October. RLC Architects designed the building. Flagler Station is a 900-acre business park located near Miami International Airport and PortMiami.