NEW YORK CITY — A 58,500-square-foot former warehouse, located at 71 Laight St. in Manhattan's Tribeca neighborhood, has sold to Taconic Investment Partners for $65 million. The building will be repositioned into a 34-unit, loft-style condominium building. Inbal Himelblau and Alan Miller of Eastern Consolidated represented the seller, a Spanish partnership former by developer Grupo Arranz Acinas, industrial company Grupo Antolin and savings bank Caja de Burgos. Peter Hauspurg, also of Eastern Consolidated, represented the buyer.
Industrial
HOUSTON — Satterfield & Pontikes Construction has been awarded a $1.2 million expansion project for a testing laboratory in Houston. The 9,200-square-foot project includes a 4,600-square-foot addition along with renovations to the existing 4,600-square-foot laboratory, which belongs to Goodman Manufacturing Co. The construction will include upgrading HVAC systems, improving electrical systems, plumbing upgrades, thermal protection, fire suppression and window/door glazing.
POINT RICHMOND, CALIF. – Nutiva is relocating its corporate headquarters from Oxnard to 213 West Cutting Blvd. in Point Richmond. The company has subleased about 100,000 square feet inside a 237,000-square-foot warehouse/distribution building. Nutiva was represented by Adam Peterson and Justin Grilli with Cassidy Turley BT Commercial in Pleasanton. The landlord was represented by Todd Severson, Greig Lagomarsinoand Sean Sabarese of Colliers International in Oakland.
REDLANDS, CALIF. — Continental Tire North America has signed a 24-month lease renewal for 497,714 square feet of industrial space in Redlands. The facility is located at 27223 Pioneer Ave. Continental Tire has fully occupied this site since 2009. The company was represented by Frank Geraci, Walt Chenoweth, Juan Gutierrez and Patrick Wood of Voit Real Estate Services’ Inland Empire office. The landlord, Prologis, represented itself in this lease transaction.
MOORPARK, CALIF. – A 21,505-square-foot industrial property in Moorpark has sold to Cosaro and Tagliati Trusts for $3 million. The property is located at 5245 Maureen Lane. It was constructed within a master-planned business park built in the 1990s. The trusts were represented by Timothy Foutz of NAI Capital’s Encino office. The seller was F&B Industrial Investments, and LLC.
SACRAMENTO, CALIF. — Ridge Capital has purchased 290 acres at the Southport Business Park in West Sacramento. The firm plans to sell entitled parcels within the site that range in size from three acres to 116 acres. Ridge Capital will also consider build-to-suit developments. The sites can accommodate buildings from 20,000 square feet to 2 million square feet. Ridge Capital was represented by Matt Lofrano, Bill Niethammer, Mark Demetre and Mike Zimmerman of Jones Lang LaSalle’s Sacramento office. The team will also advise the firm on its future sales and development of the land. Ridge Capital was also advised by investment managers Carlo Mormorunni and Mike Diepenbrock.
FORT LAUDERDALE, FLA. — Marcus & Millichap has brokered the $2.73 million sale of the 42,365-square-foot American Changer Corp. distribution facility, located at 1400 NW 65th Place in Fort Lauderdale. Douglas Mandel of Marcus & Millichap represented the seller, a limited liability company from Boca Raton, Fla., in the transaction. Mandel also represented Boston-based Cabot Properties, the buyer. The property is fully leased to American Changer.
GARLAND — Dallas-based Westmount Realty Capital has purchased the 1.13 million-square-foot Garland Business Park, a dry storage and freezer/cooler distribution center located at 2600 McCree Road in Garland. Westmount plans to rebrand the center as Garland Logistics Park and will budget as much as $12 million during the next three years for renovations and upgrades. The distribution center is currently 70 percent leased.
LAS VEGAS – A 153,000-square-foot industrial property near McCarran International Airport in Las Vegas has sold to CIP Real Estate for $4 million. It’s located at 6620 Escondido Street. CIP plans to invest more than $200,000 in capital improvements for the property. The purchase was carried out in a joint venture with a real estate investment fund managed by Blue Vista Capital Partners. CIP represented itself in the transaction, while the seller, the Engelstad family, was represented by Brian Riffel of Colliers. Riffel will continue to serve as leasing broker for CIP.
CICERO, ILL. — Cabot Properties has purchased Building II of the Cicero Business Center, a 291,814-square-foot industrial building in Cicero. The property is fully leased to Cloverhill Pastry-Vend LLC. Steve Disse and Jeff Devine of Colliers International represented the seller, Opus Development Corp., in the transaction.