LIVONIA, MICH. — Promanas has acquired a 184,020-square-foot industrial building at 12001 Farmington Road in Livonia. Steve Gordon of Signature Associates represented the seller, Quality Metalcraft Inc., in the transaction. Bruce Morrison, also of Signature Associates, represented the buyer.
STILLWATER, MINN. — A 19,250-square-foot industrial property at 1790 Washington Ave. in Stillwater has sold to a limited liability company for $1.8 million. The property is located off Highway 36. Two long-term tenants have occupied the property since its construction. Michael Ahles of Marcus & Millichap represented the seller, a private investor. He also secured the buyer.
CAROL STREAM, ILL. — COM2 Computer Recycling has signed multiple transactions in Carol Stream, increasing its footprint in the city to 261,357 square feet. COM2 penned a lease for 175,000 square feet at 500 Kehoe Blvd. The company also renewed its lease within its current office and processing facility, located at 140 E. Fulleton Ave. COM2 occupies 86,357 square feet in the facility. John Whitehead of NAI Hiffman represented the tenant in both transactions. John Cash and David Haigh of NAI Hunneman represented the landlord, 500 Kehoe LLC, in the new lease.
SPRINGFIELD, MASS. — Stag Industrial Holdings has acquired Westover Road, a warehouse and distribution building in Springfield for $8.3 million. The seller is Brookwood Financial Partners, which purchased the property in 2010 for $4.5 million. The property, located at 2189 Westover Road, is fully occupied by Big Y, a supermarket chain. Jim Thompson of Thompson Partners represented the buyer in the transaction. Brookwood was self-represented.
WESTFORD, MASS. — Colliers International has arranged an $18.6 million loan to refinance The Michelson Farm – Westford Technology Park, Buildings 5 and 8 in Westford. The buildings are located at 7 and 9 Technology Park Drive and total 230,000 square feet. John Broderick negotiated the long-term loan on behalf of the borrower, The Gutierrez Co., which developed the property in 1996. Blue Hills Bank provided the loan.
LAWRENCEVILLE, GA. — Fusion Creative has acquired a 63,651-square-foot, bank-owned industrial property, located at 645 Creekside Industrial Court in Lawrenceville. The building is situated on approximately 9.3 acres in the Gwinnett Progress Center Business Park. The industrial property was built in 2007 and features 42,840 square feet of column free space. Patrick Laughlin of Bullock Mannelly Partners represented the seller in the transaction. Ray Dankberg of Jones Lang LaSalle represented the buyer.
ATLANTA — A joint venture between Clarion Partners and Seefried Industrial Properties is developing a 285,600-square-foot distribution facility at SouthPark Distribution Center near Hartsfield-Jackson International Airport in Atlanta. The property is being constructed for Pittsburgh-based PPG Industries, a global supplier of paints, coatings, optical products, chemicals, glass and fiberglass. PPG Architectural Finishes Inc., a subsidiary of PPG Industries, will be the tenant and will use the facility as its Southeastern distribution center. The industrial project will be completed in December. Trevor Ragsdale, Paul Roeser and Alan Clayton of Jones Lang LaSalle represented PPG Industries. “As the existing Class A space is leased, coupled with limited new development, companies like PPG who desire to increase their operating efficiencies by leasing a facility with modern building specifications need to enter into build-to-suit transactions like this one,” says Tom Flanigan, senior vice president of Clarion Partners.
ADDISON, ILL. — Marcus & Millichap has arranged the $20.5 million sale of 350 Rohlwing Road, a 453,361-square-foot industrial building in Addison. The building is fully leased to Domtar Corp., a paper producer, which uses the facility as its Chicago metropolitan area distribution center. Marty Cohan of Marcus & Millichap represented the buyer, 350 WPI Rohlwing LLC, in the transaction.
MARION, ILL. — Dalfen America Corp. has selected Colliers International to market a 1 million-square-foot distribution facility, known as Interstate 57 Distribution Center, in Marion. IDI built the facility in 2000 to serve Circuit City Stores, and the center was later purchased by Dalfen once vacated. Charles Canale, Steven Kohn and Dave Gannon of Colliers International will market the property.
WATERTOWN, MASS. — 480 Biomedical has renewed its lease for 27,311-square-foot laboratory facility at 480 Arsenal St. in Watertown. The company develops bioresorbable scaffold for treating occlusive disease in the superficial femoral artery. 480 Arsenal St. is a 141,000-square-foot lab building located less than five miles from Interstate 90 and the Massachusetts Turnpike. Tucker Hansen and Joe Flaherty of Colliers International represented the tenant in the transaction. The landlord is Alexandria Real Estate Equities.