SOUTH BEND, IND. — Holladay Properties and an unnamed joint venture partner have purchased the former 529,137-square-foot AJ Wright building, located at 1905 W. Sample St. in South Bend. The new owners named the property Interstate 80 Commerce Center and aim to attract a national and regional tenant mix that provides services to the Midwest. The property is located near I-80 and was developed in 2005 as an AJ Wright distribution center. The facility features 24,547 square feet of office space, 88 docks and 32- and 46-foot ceiling heights.
PLYMOUTH AND BROOKLYN PARK, MINN. — Three of Duke Realty Corp.'s tenants have expanded their leased space by 85,994 square feet, bringing two of the company's industrial properties to full occupancy. Ferguson Enterprises, a plumbing products supplier, renewed its 210,418-square-foot lease at Medicine Lake Industrial Center at 975 Nathan Lane in Plymouth. The company also expanded its lease by 49,994 square feet. Graybar Electric Co., an electrical products provider, expanded its lease space at Crosstown Business Center 12 in Brooklyn Park to 24,000 square feet, bringing the total square footage it leases to 144,048 square feet. In the same building, Industrial Netting, a supplier of plastic netting and precision metal mesh, renewed its 84,000-square-foot lease and increased its square footage by 12,000 square feet. These leases, along with a recent new lease by Archway Marketing, bring the Crosstown Business Center 12 to full occupancy.
KILLINGLY, CONN. — The Grossman Cos., in partnership with Summit Development and Ameritas Life Insurance Corp., has purchased an industrial property at 349 Lake Road in Killingly for $3.2 million. The property, near I-395 and the Massachusetts and Rhode Island borders, includes 40 acres of developable land and a mostly vacant, 210,000-square-foot industrial building. The property is also in an industrial area that includes manufacturing and distribution facilities run by companies such as Frito Lay, United Natural Foods and Staples.
SHERIDAN, ORE. — A vacant industrial property located at 888 SE Sheridan Road in Sheridan has received a $1.25-million loan. The property houses a 235,000-square-foot former manufacturing facility that was built in 1973. It was previously used by Liberty Homes, an affiliate of the borrower, to produce manufactured housing. The 34.2-acre property contains three buildings that include 4,000 square feet of built-out office space. The three-year, interest-only loan will provide working capital to fund improvements that will ultimately allow the owner to reposition the property. Financing was obtained by owner Liberty Realty Enterprises and will be serviced by Kennedy Funding on behalf of a limited liability company owned by the members. At the time of the loan’s closing, a 24,000-square-foot building on the property was under contract to be sold for $680,000.
BILLERICA, MASS. — Tokyo Electron U.S. Holdings, a supplier of semiconductor production equipment, has renewed and expanded its lease by 52,683 square feet at 900 Middlesex Turnpike, Building 6 in Billerica. The company now occupies 91,649 square feet at the property. Michael Dalton of Cassidy Turley represented the tenant in the transaction. The landlord, Gutierrez Co., was self-represented.
BUFFALO GROVE, ILL. — Zebra Technologies, a bar code and radio-frequency identification (RFID) maker, has signed a new lease for 68,000 square feet of industrial space in Buffalo Grove. The building, located at 1700 Leider Lane in the Aptakisic Creek Corporate Park, is owned by Chicago-based Bridge Development Partners. Kurt Sarbaugh, Robin Stolberg and Dan McCarthy of Jones Lang LaSalle represented the tenant in the transaction.
CLINTON, MASS. — Radant Technologies has signed a lease for 58,852 square feet of industrial space at 100 Adams Road in Clinton. The company designs, builds and tests equipment for the defense industry. David and James Stubblebine and Alan Ringuette of The Stubblebine Company/CORFAC International Inc. represented the tenant in the transaction. The 344,000-square-foot facility is located off I-495, about 35 miles from Boston. The property is part of the National Industrial Portfolio, a joint venture by Hackman Capital, Calare Properties and KBS Real Estate Investment Trust.
ALLENTOWN, PA. — Yorie Tile & Terrazzo has acquired a 13,000-square-foot industrial building on Schantz Road in Allentown for $1 million. Michael Adams of NAI Summit represented both parties in the transaction. The seller was D&D Property Management. The buyer plans to manufacture terrazzo and tile for the commercial building industry.
AUSTIN — HFF has secured joint venture financing between Live Oak-Gottesman LLC and KFG Investment Co. for a 204,000-square-foot industrial portfolio, located near the section of Interstate 35 and West Howard Lane within Tech Ridge, a 1,000-acre business park in Austin. The portfolio consists of three Class A industrial properties 94 percent leased to six tenants including NCS Pearson, Ultra Clean Technology, Dynamic Manufacturing, Anixter and Finisar Corp. Randy Baird, Jud Clements and Robby Rieke of HFF arranged the equity through Principal Real Estate Investors on behalf of the borrowers, Live Oak-Gottesman and KFG Investment Co. Additionally, Mona Carlton of HFF arranged debt financing for one of the properties.
SAN MARCOS, CALIF. – A 47,037-square-foot industrial property in San Marcos has sold to SR Commercial for $3.67 million. The property is located at 120 Mata Way. The four-tenant property was vacant at the time of sale. Henry Zahner and Jon Busse of Colliers International represented both the buyer and the seller, Ontel Products, in this transaction. Zahner and Busse are also the exclusive leasing agents on the building.