GARNER, N.C. — First American Exchange Co. has sold a 180,000-square-foot distribution center at 1001 Pergo Pkwy. in Garner to Exeter Property Group. The industrial property was built in 2002 and is 100 percent leased to Pergo, laminate flooring manufacturer. Butch Miller and Ann-Stewart Patterson of CBRE/Raleigh represented the seller. Pergo renewed its 180,000-square-foot lease in May 2012.
ST. LOUIS AND BRIDGETON, MO. — Gateway Commercial ?Cushman & Wakefield has arranged the sale of two industrial properties for a combined total of $15 million. The first industrial building, located at 6504 Prescott Ave., was sold to Exeter 6504 Prescott Avenue for $12.25 million. The seller of the 420,000-square-foot North Broadway Distribution in St. Louis was Fort Wayne, Ind.-based The Lincoln National Life Insurance Co. Crane Co. sold the second building, located at 12949 Enterprise Way in Bridgeton, Mo. The 443,000-square-foot production and distribution building was sold to Mallard LLC for $2.75 million.
KENTWOOD, MICH. — Chicago-based Cohen Financial has secured $11.6 million in acquisition financing for a 462,000-square-foot, multi-tenant industrial property in Kentwood, just south of Grand Rapids. The building is located at 4700 Broadmoor Ave. and is fully occupied. Cathy Bronkema of Cohen Financial arranged the fixed rate, nonrecourse, 10-year term loan with a national CMBS lender. The borrower is a Chicago-based commercial real estate owner/investor. The deal closed on Dec. 28.
CHARLOTTE, N.C. — The Keith Corporation has sold a nine-building industrial portfolio totaling approximately 1.4 million square feet across the state of North Carolina. S&F Acquisitions Inc., a joint venture between Schmier & Feurring Properties Inc., L&J Schmier Investment Co. and Indepencia Asset Management, purchased the portfolio for $84 million. Chris Norvell and Scot Humphrey of Cushman & Wakefield/Thalhimer’s Capital Markets team as well as Stewart Calhoun, Jim Carpenter and Mike Davis of Cushman & Wakefield’s Industrial Advisory Group represented The Keith Corporation. The properties include five buildings in Lincoln County Industrial Park in Lincolnton, N.C., two buildings in Sherrill Industrial Park in Statesville, N.C., one building in Cleveland County Industrial Park in Kings Mountain, N.C., and one building in Rock Creek Center in Whitsett, N.C. The buildings are 100 percent leased to a variety of tenants including Crate & Barrel, Lenovo and United Technologies.
CHARLOTTE, N.C. — Trinity Capital Advisors, through a joint venture with Pacific Coast Capital Partners, has purchased two Class A office and warehouse buildings in Shopton Ridge Industrial Park at 3845 Shopton Rd. and 3810 Shutterfly Rd. in Charlotte for an undisclosed price. The two buildings total 211,200 square feet and include tenants Linde Gas, Apria Healthcare and Cardinal Health.
FAIRFAX COUNTY, VA. — NAI KLNB, in conjunction with C-III Realty Services, has brokered the sale of 7200 Fullerton Road, a 79,000-square-foot warehouse in Fairfax County, for $5.5 million. Chris Kubler, Marc Tasker and Ryan Moody of NAI KLNB and Linda Simpson of C-III Realty Services represented the seller, C-III Asset Management LLC. Buyer Curtis Investments was self represented. The building was constructed in 1977 and is located adjacent to the Fairfax County Parkway, Backlick Road and the National Geospatial-Intelligence Agency headquarters building.
PHOENIX — A 29-acre parcel of land in Southwest Phoenix has sold to McClain Foods Services for $7 million. It is located at the Southwest corner of 75th Avenue and Interstate 10. The company plans to develop a 200,000-square-foot freezer/cooler facility on the site. Construction is scheduled for 2013. McClain was represented by Stein Koss and Mike Quint of Lee & Associates, along with Jackson & Cooksey. The seller, EJM Development Co., was represented by Rick Robertson and Allen Lowe.
ANNAPOLIS JUNCTION, MD. — TA Associates Realty has acquired a 144,571-square-foot distribution warehouse at 9060 Junction Dr. in Annapolis Junction for $8.25 million. The industrial property is 48 percent leased with immediate access to Route 32 and Interstates 95 and 295. Jonathan Carpenter and James Wellschlager of Cassidy Turley’s Capital Markets Group represented the seller, Emory Properties.
AUSTIN, TEXAS — CBRE Austin has arranged the sale of a 241,564-square-foot, single-tenant industrial property, located at 4501 Burleson Road in Austin. The triple-net leased asset is occupied by Stock Building Supply. The property is located on a 30.39-acre lot and includes an office building, two manufacturing warehouses and three bulk warehouses. Walter Saad and Cathy Nabours of CBRE's Private Capital Group in Austin, along with Greg Marberry of CBRE's Industrial Group in Austin, represented the seller, Calcasieu Real Estate Holdings, in the transaction. Austin-based Capital Commercial Investments Inc. purchased the property.
FORT WORTH, TEXAS — Bradford Commercial Real Estate Services has arranged a 203,289-square-foot industrial lease at Railhead Industrial Park, located at 421-441 Railhead Drive in Fort Worth. The tenant, Quorum International, a Fort Worth-based specialty lighting company, has renewed and expanded its initial lease and will consolidate its national distribution center in the facility. Nick Talley and Karen Simon of Bradford represented the tenant in the lease transaction. Sun Life Assurance Co. owns the facility.