NORTH EAST, MD. — Cushman & Wakefield has completed the sale of a 345,600-square-foot industrial property in North East. The building is located on 36 acres near Interstate 95 at 4 Center Drive. It is fully leased to the General Services Administration and Herr Foods. Cushman & Wakefield’s Christopher Abramson, Brian Kruger, Nicholas Signor and Jonathon Chalkey represented the undisclosed seller. The buyer is SK Realty Management.
SHEPHERDSVILLE, KY. — Dermody Properties has acquired approximately 36 acres in Shepherdsville for a new speculative industrial project. Dermody is partnering with Granite REIT to construct a 624,000-square-foot industrial building within Settlers Point Business Park at the interchange of Interstate 65 and Highway 44. The building will feature 36-foot clear ceiling heights and 60 docks doors with cross docking capability and expansion capability up to 117 docks. Dermody expects to break ground for the project in June and complete it by the fourth quarter of 2014. Summit Construction is serving as general contractor, and Kovert Hawkins Architects is the designing the building. Tom Sims of CB Richard Ellis’s Louisville office is marketing the project for lease.
CHANDLER, ARIZ. – A 222,086-square-foot building in Chandler that is home to Avnet Global Solutions has sold to Griffin Capital Essential Asset REIT for $32.5 million. The facility is located at 6700 W. Morelos Place. Avnet’s 10-year lease at the facility commenced in 2008. As part of the newest acquisition, Avnet has agreed to extend its lease through 2018. Both the buyer and the seller, Fort Properties, was represented by Christopher E. Toci of Cushman & Wakefield of Arizona.
CHANDLER, ARIZ. – A 222,086-square-foot building in Chandler that is home to Avnet Global Solutions has sold to Griffin Capital Essential Asset REIT for $32.5 million. The facility is located at 6700 W. Morelos Place. Avnet’s 10-year lease at the facility commenced in 2008. As part of the newest acquisition, Avnet has agreed to extend its lease through 2018. Both the buyer and the seller, Fort Properties, was represented by Christopher E. Toci of Cushman & Wakefield of Arizona.
CHICAGO — Grand Warehouse Logistics Corp. has signed an 83,115-square-foot industrial lease at 1401-1505 E. 96th St. in Chicago. The space is located within the 2.2 million-square-foot Calumet Business Center, an industrial park on Chicago’s south side. Chris Gary of NAI Hiffman represented the landlord, Ashley Capital, in the transaction. Grand Warehouse Logistics is a family-owned and operated public warehouse and distribution center. The corporation selected this facility to service clients that operate within Calumet Business Center.
SANFORD, FLA. — Space Port USA has acquired an office/warehouse property in Sanford from McWeeney-Smith Real Estate Partnership of Orlando for $600,000. The building totals 12,000 square feet and is located at 751 Central Park Dr. within Central Florida Industrial Park. Michael Hedrich of NAI Realvest represented the seller, and David Hammett of CRE Advisors represented the buyer.
SPRING, TEXAS — The Woodlands-based D'Agostino Cos. has acquired Phase II of the Spring Hill Business Park, located at 322 Spring Hill Drive in Spring. Phase II consists of two single-story industrial buildings spanning approximately 20,000 square feet. D'Agostino purchased Phase I of the business park in 2012. Linda Crumley of The J. Beard Real Estate Co. is handling the property's leasing.
MAUMELLE, ARK. — Dallas-based Mohr Capital has acquired the former Scholastic Books distribution center in the Little Rock suburb of Maumelle. The seller was Scholastic, which had already vacated the property. The building features 34- to 46-foot clear ceiling heights, rail access and ample trailer parking. Mohr, which enters the Little Rock market with this purchase, plans to reposition the property as Little Rock Logistics Center. It will complete major improvements to 200,000 square feet of the building to accommodate an incoming tenant and offer the remaining 300,000 square feet for lease. Little Rock-based Irwin Partners will handle the leasing assignment. Scott Henry and Gary Horn provided in-house representation on behalf of Mohr. Northmarq Capital and Protective Life Insurance Co. provided acquisition financing.
DULLES, VA. — Holliday Fenoglio Fowler (HFF) has brokered the sale of two industrial buildings adjacent to Dulles International Airport for $9.63 million. The buildings total 83,086 square feet and are situated within NorthPointe, an industrial property located less than one-half mile from the airport’s cargo entrance. The two buildings are 87 percent leased to a tenant roster that includes The Richards Corporation. The HFF team of Bruce Strasburg and Samuel Fagelson represented the seller, Velsor Properties.
WOODRIDGE, ILL. — Conor Commercial Real Estate is developing a 347,400-square-foot build-to-suit at the Union Pointe Business Park in Woodridge for the Orbus Exhibit and Display Group. Orbus is a privately owned group of companies that specializes in the manufacturing of display products, graphics and solutions. The company will be consolidating its Bolingbrook and Niles facilities and relocating to the new property in Woodridge upon completion in 2014. With this build-to-suit, Orbus will triple its leased space from 128,000 square feet to 347,400 square feet. McShane Construction Co. will construct the new facility. Ware Malcomb Architects will serve as the architect for the project.
