BOSTON — Boston-based STAG Industrial has acquired a six-property industrial portfolio for $30.6 million. The buildings, which total more than 772,000 square feet, are located in Connecticut, Florida, North Carolina, South Carolina, New York and Texas. The properties include three warehouse and distribution facilities and three light manufacturing buildings and are fully leased to three tenants. The acquisition is the first transaction resulting from STAG's recent agreement with Columbus Nova Real Estate Acquisition Group to source sale-leaseback transactions for the company.
CHICAGO — Jones Lang LaSalle has completed three industrial lease transactions totaling more than 225,000 square feet in Chicago's western suburbs. CoreCentric Solutions inked a lease for 106,731 square feet at 1575 Hunter Rd. in Hanover Park, Ill. Dominic Carbonari and Frank Griffin of Jones Lang LaSalle represented the building's owner, Cabot Properties, in the transaction. Carbonari and Griffin also represented Cabot in the lease of 51,500 square feet to Cary Co. The 101,640-square-foot building is located at 1005 W. Republic Dr. in Addison, Ill. Additionally, Carbonari, Griffin and Jones Lang LaSalle's Keith Stauber arranged the lease of a 67,932-square-foot industrial building at 888 N. Central Ave. in Wood Dale, Ill., to St. George Warehouse Co. The team represented the building's owner, ML Realty Partners, in the deal.
ELMHURST, ILL. – Nth Degree has inked a lease renewal for 3,696 square feet of flex space at the Elmhurst Metro Court in Elmhurst. Elmhurst Metro Court is a seven-building office/industrial campus. Carrie Wagener represented the landlord, Denholtz Associates, in the transaction. Nth Degree, a global marketing company, has 21 North American offices.
NEWINGTON, CONN. – Davidson Co. has signed a long-term lease for 120,544 square feet at a warehouse facility in Newington. The newly renovated industrial building, located at 367 Alumni Road, features new roofing, an updated and electrical system and additional loading docks. Chris Metcalfe and Bill Bronson of CBRE North East Partners represented the landlord, The Hampshire Cos., in the transaction. Ed Godin of Matthews Commercial Properties represented Davidson Co.
DALLAS — Prologis has signed a build-to-suit agreement to construct a 398,000-square-foot industrial property in Dallas for Prime Distribution Services. The property has been designed to the City of Dallas Green Building Program specifications, making it eligible for LEED certification. The building has also been designed to accommodate an additional 187,000-square-foot expansion. The property will break ground this month and is slated for a February 2013 completion.
DALLAS — Marcus & Millichap has arranged the sale of the 229,000-square-foot USA Pallet & Logistics Service Center, located at 2829 Sea Harbor Road in Dallas. The industrial property is net-leased to USA Pallet & Logistics for a 10-year term. Scott Ryan of Marcus & Millichap's Austin office and Geoffrey Ficke of the firm's Dallas office represented the seller, a limited liability company, in the transaction. Sam Hanna of Marcus & Millichap's San Diego office represented the buyer, an individual trust.
BEAVERTON, ORE. — A 449,245–square-foot industrial complex called 217 Distribution Center has sold to Kansas City Life for $23.35 million. The five-building center is located in Beaverton and was 96.5 percent occupied at the time of sale. The seller was Schnitzer Investment Corp. The transaction was executed by Mary Sullivan, John Jugl, Jr., Buzz Ellis and Paige Morgan of Jones Lang LaSalle.
RIALTO, CALIF. – Conopco has signed a three-year lease renewal at a 1.1-million-square-foot distribution space in Rialto. The facility is located at 305 W. Resource Drive. Conopco was represented by Jay Hruska, Sean Duffy, Tim D’Addabbo and Damon Bowers of Cushman & Wakefield in Connecticut; Chuck Belden, Kyle Kehner and Tim Pimentel of the firm’s Inland Empire office; and Tom Cotter of Unilever. The landlord, Prologis, was represented in-house.
AURORA, ILL. — Duke Realty Corp. has purchased a 257,542-square-foot industrial facility at 940 N. Enterprise St. in Aurora for a reported $9.5 million. Brighton Best International, a distributor of fasteners screws and bolts, has signed a long-term lease for the entire building and will relocate its operations to the facility later this year. Built in 1998, the building includes 36 truck docks and four drive-in doors. David Bercu of Colliers International represented the seller, PanCal, 940 Enterprise LLC. Brian Colson and Eric Fisher of NAI Hiffman represented Duke Realty.
EAGAN, MINN. — Murphy Warehouse Co. has purchased a 350,000-square-foot warehouse facility at 905 Yankee Doodle Road in Eagan for $6.55 million. 99 Cents Only Stores was the seller. The property has been on the market since 2005 and terms of the deal were not disclosed. Murphy Warehouse owns 11 facilities in the Twin Cities, and the new Eagan logistics facility will serve customers in the food, medical, retail, paper and home construction industries. The new owners plan to invest $3 million in facility upgrades, including several sustainable features.