WOODSTOCK, ALA. — ThyssenKrupp Materials North America, a producer of steel, plans a $13 million, 100,000-square-foot materials processing and distribution center in Woodstock. The property will have four lines for processing materials such as carbon steel, aluminum and stainless steel to support the operations of the company’s Ken-Mac Metals and ThyssenKrupp Steel Services divisions. Ogden Deaton of Graham & Co. represented ThyssenKrupp Materials in the site selection and development.
Industrial
SUFFERN, N.Y. — Ascena Retail Group, which operates the Maurices, Lane Bryant and dressbarn banners, plans to launch a 760,000-square-foot distribution center expansion in central Ohio. Upon completion, the new facility will distribute apparel and accessories for its lineup of brands, which also include Justice & Brothers and Catherines. Gray Construction Co. will manage the construction. The facility is slated for completion in early 2014. According to David Jaffe, president and CEO of Ascena, “The centrality of this location will allow us to deliver 70 percent of our 3,800 stores within two days.”
MOONACHIE, N.J. — Cornerstone Real Estate Advisors has acquired 115 Moonachie Ave., a 168,000-square-foot industrial building in Moonachie. The property is fully leased to three tenants and is anchored by Lindenmeyr Munroe, one of the largest privately held paper companies. The seller, Russo Development, constructed the property in 2000 and the building features 28-foot clear ceiling heights and a brick-clad facade. Jeffrey Dunne, Kevin Walsh, Brian Schulz and Bill Waxman of CBRE Group represented the seller in the transaction. They also procured the buyer.
LOS ANGELES — Kilroy Realty Corporation has completed its disposition of the firm’s entire industrial portfolio and two small office projects. In total, Kilroy shed 3.7 million square feet as part of its capital recycling strategy. All of the assets were located in California, with the majority residing in the Orange Countyregions of Anaheim, Brea, Costa Mesa, Garden Grove, Santa Ana, Tustin and Irvine. The dispositionnetted about $355 million. The firm plans to use these funds to expand its West Coast office development program. The 44 properties were sold in two tranches to two institutional buyers, TIAA-CREF and LBA REIT. The buyers were represented by David Phelps of Paul Hasting's Los Angeles office, and Andrew Shiner and Tim Farahnik of Seyfarth Shaw's Los Angeles office, respectively. Kilroy was advised by Allen Matkins’ Tony Natsis, Peter Roth, Crystal Lofing and Elizabeth Wilgenburg.
RIVERSIDE, CALIF. – A 39,900-square-foot distribution center in Riverside has sold to Dmitriy Burkovskiy, owner of Mile Transport, for $3.2 million. The center is located at 1075 Mt. Vernon Ave. Burkovskiy was represented by John Seoane of Lee & Associates Ontario. The seller, Cornerstone Realty Advisors, was represented by Voit Real Estate Services.
BRIGHTON, MICH. — Green Oak Business has acquired a 29,320-square-foot industrial property at 12482 Emerson Drive in Brighton. Jim Montgomery of Signature Associates represented the seller, CTI, in the transaction. The former CTI Environmental building will be converted into a truck depot and corporate offices.
SAN ANTONIO — A partnership between Atlas CP, Fort Worth-based Panther Transaction Group and Austin-based Barton Creek Capital has purchased a 691,866-square-foot industrial portfolio, located in northeastern San Antonio. Jason Pumpelly of Johnson Capital assisted in the mortgage financing.
RIVERSIDE, CALIF. – A 39,900-square-foot distribution center in Riverside has sold to Dmitriy Burkovskiy, owner of Mile Transport, for $3.2 million. The center is located at 1075 Mt. Vernon Ave. Burkovskiy was represented by John Seoane of Lee & Associates Ontario. The seller, Cornerstone Realty Advisors, was represented by Voit Real Estate Services.
BURNSVILLE, MINN. — ShopJimmy.com, an e-commerce company that sells TV parts to businesses and consumers, has leased 289,130 square feet of warehouse space at 2300 West Highway 13 in Burnsville, a submarket of Minneapolis. The transaction represents one of the largest industrial leases year-to-date in the Twin Cities market. Mike Koehler of Premise Commercial represented the tenant in the transaction. Bryan Van Hoof, Jeff Przytarski and Tom Bennett of CBRE Group represented the landlord, First Industrial Realty Trust.
MEMPHIS, TENN. — US Foods has more than doubled the size of its distribution center in Memphis by adding 385,000 square feet. Improvements include a new state-of-the-art kitchen in which the company will hold product demonstrations for customers and an on-site truck repair shop. The expanded facility was officially dedicated to Joe Campbell, the former president of US Foods who was instrumental in the facility’s expansion. US Foods’ Memphis division has more than 375 employees and serves customers throughout the Southeast, including independent restaurants, healthcare and hospitality entities, government and educational institutions.