LAVERGNE, TENN. — Saks Inc. has opened its 564,000-square-foot distribution and fulfillment center, located at 1 Walden Books Drive in LaVergne. The building is a former Borders distribution facility. The new center, which employs 250 full-time associates, will fulfill customers' orders from saks.com. A joint venture between DCT Industrial Trust and Saks owns the center. The retailer also operates distribution centers in Aberdeen, Md., and Ontario, Calif.
Industrial
MELBOURNE, FLA. — Clarke Enterprises has sold a 14-building industrial portfolio, located in Melbourne, to CIA Developers for $9.25 million. The Class B properties total 284,500 square feet. The portfolio is 86 percent leased to approximately 60 tenants. Todd Everett, David Knott and Ryan Dinsdale of NAI/Merin Hunter Codman represented the seller in the transaction.
OLIVE BRANCH, MISS. — IDI has arranged a 150,662-square-foot lease with Millstone Medical Outsourcing at the 3.2 million-square-foot Crossroads Distribution Center, located in Olive Branch. The company will occupy space in Building B, which is slated for completion in September. Michael Driscoll of Colliers International represented the tenant in the lease transaction. IDI, the landlord, was self-represented by Tim Moore.
PARIS — A 375,000-square-foot industrial facility, located on 89 acres at 2020 19th St. NW in Paris, has recently sold. Bob Chodos, Chris Cummings and Allen Gump of Colliers International represented the seller, Sara Lee Diversified LLC, in the transaction. The buyer was NWC-Paris LLC.
SANTA ANA, CALIF. – A 39,630-square-foot industrial building in Santa Ana has sold to Freeway Industrial Park for $4.95 million. The property is located at 3900 W. Segerstrom Ave. Freeway Industrial was represented by Mike Long of Lee & Associates – Newport Beach. The seller, Todd I. Shiffman Trust, was represented by John Griffin of Voit Real Estate Services.
TEMPE, ARIZ. – MTD Southwest has signed a lease renewal for 81,200 square feet of warehouse and distribution space in Tempe. The property is located at 9235 S. McKemy Street. MTD Southwest was represented by James Harper of Cassidy Turley BRE Commercial. The landlord, McKemy Holdings, represented itself in this transaction.
DENVER — JCR Capital (JCR) has allocated $25 million for CapRock Partners to purchase distressed assets and non-performing industrial loans throughout California. The capital was originated through JCR’s second fund, the JCR Commercial Real Estate Finance Fund II, L.P. (Fund II). This fund is open to new investors through the end of 2012. CapRock and the Denver-based real estate fund manager have already teamed up on three investments through this new joint venture, which totaled $10.2 million.
LOS ANGELES — DCT Industrial Trust has agreed to purchase a four-property portfolio totaling 563,000 square feet for an undisclosed sum. The portfolio contains three properties within the Los Angeles International Airport submarket and one property within the Chicago O’Hare International Airport submarket. The Class A air freight buildings boast a 99.6 percent total occupancy rate. They are leased to eight tenants. The off-market transaction is anticipated to close in the fourth quarter of 2012.
MEBANE, N.C. AND DALLAS, GA. — STAG Industrial has purchased three industrial buildings totaling 518,383 square feet, for $19.8 million. Two of the buildings are located in Mebane and one is located in Dallas. The properties include two warehouse and distribution facilities and one light manufacturing facility, which are fully leased to Armacell, with an average remaining lease term of 12 years.
CHICAGO — DCT Industrial Trust has agreed to purchase four industrial assets totaling 563,000 square feet, including one facility in the Chicago O'Hare International Airport submarket. The Class A air freight buildings are situated in prime distribution locations. The additional three facilities are in the Los Angeles International Airport submarket. The portfolio is 99.6 percent occupied by eight tenants. The off-market transaction is expected to close in the fourth quarter of this year.