RENO, NEV. — Broadbent & Associates has leased 10,083 square feet of office and warehouse space in Reno. The space is located at 5450 Louie Lane. Broadbent was represented by Scott Shanks of NAI Office Properties Group. The landlord, J & S Erlach Properties 50, LLC, was represented by Dave Simonson of NAI Alliance’s Industrial Properties team.
FLORHAM PARK, N.J — HFF has arranged $31 million in financing for a three-building, 1.1 million-square-foot industrial portfolio in the northern New Jersey towns of Elizabeth, Edison and Bayonne. HFF worked on behalf of a joint venture between Cohen Asset Management Inc. and New York Life Investment Management. The seven-year, fixed-rate acquisition loan was placed through Principal Real Estate Investors. HFF sold the assets to the borrower as part of a larger portfolio in 2012.The portfolio was 99 percent leased at the time of sale. Senior managing directors Jon Mikula and Paul Brindley led the HFF team representing the borrower.
NAPERVILLE, ILL. — Principal Real Estate Investors has sold a 171,935-square-foot building in Naperville, located about 30 miles west of Chicago, to Reebie Moving and Storage. The purchase price was undisclosed. Reebie Moving & Storage purchased the two-tenant property to supplement its existing location in Chicago. The building, which is located at 720 Frontenac Road, includes 61,000 square feet available for lease. The facility offers a clear ceiling height of 24 feet, easy access to I-88 and on-site trailer parking. Mark Moran, and John Whitehead with NAI Hiffman’s industrial services group, represented Principal Real Estate Investors in the transaction. Kelly Disser also with NAI Hiffman represented Reebie Moving and Storage.
FERNDALE, MICH. — Genius Services Inc. has signed a lease for 29,004 square feet of industrial space located at 1450 Academy in Ferndale, a northern suburb of Detroit. John Boyd of Signature Associates represented the tenant, Genius Services Inc., in the transaction.
LEWISVILLE, TEXAS — Henry S. Miller Brokerage has secured the acquisition of an 84,140-square-foot industrial facility in Lewisville. The office/warehouse facility is located at 1725 Lakepointe Drive within the Lewisville Tech Center. The property has approximately 23,630 square feet of office space, 36,308 square feet of production space and approximately 26,202 square feet of warehouse space. The property previously housed the contents of the George Bush Library, and will now be home to the corporate operations of JADA Enterprise, the buyer. Dan Spika of Henry S. Miller Brokerage represented the buyer, and Michael Peinado of Lincoln Property Co. represented the seller, LPC GSA LLC.
HOUSTON — The Finial Group has brokered the sale of a 20,000-square-foot industrial facility, located at 4627 N. Sam Houston Parkway E. in Houston, near the intersection of Beltway 8 and Vickery Road. Ross Thomas and Reed Vestal of Finial Group represented the buyer, Elbi of America Inc., in the transaction. Robert Anthony of Anthony CRE represented the seller, Elkins Industries Ltd.
JACKSON, MINN. — AGCO, an agriculture company, has begun further expansion of its Jackson manufacturing center and plans to invest $42 million into the building during the next three years. AGCO will invest in infrastructure, increasing production capacity and efficiency in order to help meet growing demand for the tractors and application equipment built there. The three-year endeavor is made up of seven phases affecting all areas of the campus, including component manufacturing, the tractor assembly line and the application equipment assembly line. Once completed, the expansion will create 75 additional permanent jobs at the facility, bringing the total number of employees to more than 1,200. The project will increase production capacity by 25 percent for both the tractor and sprayer assembly lines, according to AGCO. The first phase, scheduled for completion in the fall, includes a 30,000-square-foot expansion of the component manufacturing area.
ARDEN HILLS, MINN. — The U.S. General Services Administration (GSA) has sold a 427-acre portion of the Twin Cities Army Ammunition Plant (TCAAP) in Arden Hills to Ramsey County for $28 million. The sale is part of GSA's ongoing efforts to dispose of excess federal property to save taxpayer dollars and make more efficient use of the government's real estate assets. The deal transfers ownership of 397 acres to Ramsey County immediately, while the remaining 30 acres will be transferred to the county after it conducts environmental remediation, which is expected to take approximately three years. GSA's disposal team in Boston facilitated the sale. The property is a portion of the former Twin Cities Ordnance Plant, which occupied nearly four square miles during World War II. The Army constructed 323 buildings and employed 24,000 civilian and military personnel at the peak of production.
HOUSTON — Levey Group has purchased 17.5 acres of land in north Houston for the development of a 200,000-square-foot speculative industrial park known as IAH Business Park. The park is located adjacent to Bush Intercontinental Airport along Aldine Westfield Road. The industrial development is currently in the design phase and will become shovel-ready in the fall. Levey Group is prospecting for potential users that may want to occupy the entire development.
CHATSWORTH, CALIF. – A 24,150-square-foot industrial property in Chatsworth has sold to Nordhoff SSA for $3 million. It is located at 20433-20439 Nordhoff Street. Timothy P. Foutz of NAI Capital’s Encino office represented both the buyer and the seller, LEC Properties, in this transaction.