SAN DIEGO – An 8,000-square-foot building in San Diego has sold to Field Ironworkers Apprenticeship & Training Program for $2.5 million. It is located at 3888 Beech Street. The buyer plans to use the property as a training facility. Field Ironworkers was represented by James Duncan of Cushman & Wakefield. The seller, iStar Busco, was represented by Linda Greenberg of Lee & Associates in this all-cash transaction.
CYPRESS, CALIF. — Hybrid Promotions LLC has signed a five-year lease for 331,376 square feet at Cypress Technology Center. The lease is valued at about $6 million. The 173,990-square-foot industrial building is located at 5757 Plaza Drive in Cypress. The new lease has brought the building to full capacity. Hybrid Promotions was represented by CBRE’s John Privett, Steve Young and Cameron Merrill. The landlord, Deutsche Asset & Wealth Management, was represented by Rick McGeagh, Bob Goodmanson and Dave Desper, also of CBRE.
CARROLLTON, TEXAS — Dynamex has signed two leases for industrial space in Carrollton totaling 89,786 square feet. The transportation services company signed a 31,098-square-foot lease at 1505 Wallace St., Suite 122, and a 58,688-square-foot lease at Luna IV, located at 2244 Luna Road, Suite 120. J. Scot More of Holt Lunsford Commercial represented the landlord, CIR-III REIT, in the Wallace Street lease. Carter Crow of Billingsley Co. represented the landlord, CB Luna Industrial No. 1, in the Luna IV transaction. Ward Richmond, Chris Teesdale and Tom Pearson of Colliers International represented the tenant in both deals.
CHICAGO — Two logistics companies have leased a total of 456,719 square feet in industrial leases along the I-55 corridor. APL Logistics, a third-party logistics services provider, signed a new lease for 126,450 square feet in Crossroads 1, while existing tenant Exel Inc., a supply chain and logistics company, renewed its 241,110-square-foot lease and expanded by 89,159 square feet in Park 55 Building 1. Duke Realty owns both buildings. Larry Johnson with CBRE represented APL Logistics in its new lease, while Mark Moran and Steve Connolly with NAI Hiffman and Susan Bergdoll of Duke Realty represented the landlord. Jeanne Rogers with Arthur J. Rogers & Co. represented Exel Inc. in its renewal and expansion, while Trevor Ragsdale, Kelly Gray and Michael Connor with Jones Lang LaSalle and Bergdoll represented Duke Realty. Crossroads 1 is a 289,920-square-foot bulk distribution facility and one of seven Duke Realty industrial buildings in Crossroads Business Park at I-55 and Route 53 in Bolingbrook. Park 55 Building 1 is a 529,000-square-foot bulk distribution facility located a few miles southwest of Crossroads along I-55.
KANSAS CITY, MO. — Demdaco, a Leawood-based importer of household gift and decorative items, is moving its distribution to Logistics Park Kansas City. Logistics Park KC master developer NorthPoint Development and NAI Capital Realty announced that Demdaco had executed a long-term lease for a 326,650-square-foot distribution center. The center will be custom built for Demdaco, which has distributed its products from North Kansas City for the last 12 years. Demdaco will bring the total square footage under development to more than 850,000 square feet at the industrial park.
SAUKVILLE, WIS. — Mr. Mover Inc., a moving and storage company, has purchased an 8,800-square-foot industrial building in Saukville, about 25 miles north of Milwaukee. General Chemical sold the property, which is located at 500 N. Progress Drive. The purchase price was undisclosed. General Chemical acquired the facility in 2006. Mr. Mover will relocate from its current building at 336 S. Spring St. in Port Washington. James Young of Cassidy Turley Barry represented General Chemical in the transaction. Jeff Hoffman of Judson & Associates represented Mr. Mover.
GRAND RAPIDS, MICH. AND SOUTH BEND, IND.— CrossLake Partners has acquired a seven-building, 1.5 million-square-foot industrial portfolio located in the Grand Rapids, Mich., and South Bend, Ind., markets for $29.2 million. CenterPoint Properties was the seller. CrossLake Partners is a joint venture between principals within Colliers International’s Chicago offices and a Chicago-based real estate investment firm. KeyBank provided the acquisition and lease-up financing in this transaction. The properties, which are 75 percent leased, have 23 tenants including Wacker Neuson (150,000 square feet), Tubelight (123,000 square feet) and PIPP Mobile Storage (116,000 square feet). Michigan buildings in the portfolio include: 3056 Walker Ridge Drive (335,125 square feet), 2966 Wilson Drive (200,188 square feet) and 3111 Wilson Drive (107,000 square feet) in Walker; 1269 E. Mt. Garfield Road (275,000 square feet) in North Shores; and 1100 Hynes Ave. (215,050 square feet) and 900 Hynes Ave. (190,429 square feet) in Grand Rapids. The South Bend industrial property is located at 1827 Bendix Drive and spans 199,730 square feet.
CARTERET, N.J. — The Hampshire Cos., based in Morristown, N.J., has acquired 200 Middlesex Ave. in Carteret, a 400,000-square-foot industrial property that was built in 1992. The purchase price was not disclosed. Located within Carteret’s industrial market, the building offers easy access to the New Jersey Turnpike and is nearby major ports. “We anticipate increased activity in the port area over the next few years, and the building’s accessibility and close proximity to the ports made this an attractive investment opportunity,” says Michael Harrington, an investment manager for The Hampshire Cos.
CARROLLTON, TEXAS — Lee & Associates has arranged a 44,900-square-foot industrial lease at 1135 Trinity Mills Road in Carrollton. Nathan Denton and Adam Graham of Lee & Associates represented the landlord, Cobalt Capital Partners. Bill de la Chapel of Transwestern Commercial Services represented the tenant, Armstrong Relocation.
SAN ANTONIO — Stream Realty Partners has brokered the extension and expansion of a 32,400-square-foot industrial lease at Lanark Distribution Center, located at 610 Lanark Drive in San Antonio. Jason Schnittger of Stream Realty Partners represented the landlord, Mayfield Properties, in a direct deal with tenant Ram Tool & Supply.