BIRMINGHAM, ALA. — Isuzu Manufacturing has sold a vacant 293,000-square-foot industrial facility at 1573 Sterilite Dr. in Birmingham to Kamtek, a division of automotive supplier Magna International. Isuzu purchased the property from Del Monte in 2006 with plans to assemble a light-duty work truck product line. However, the product line was not developed due to economic conditions. The industrial facility is situated on 36 acres near Birmingham’s Valley East Industrial Park. Sonny Culp of Graham & Co. represented Isuzu and Jack Brown of Graham & Co. represented Kamtek.
GARNER, N.C. — First American Exchange Co. has sold a 180,000-square-foot distribution center at 1001 Pergo Parkway in Garner to Exeter Property Group. The industrial property, which offers 175,230 square feet of warehouse space and 4,770 square feet of office space on 10.7 acres, is leased to Pergo, a laminate flooring manufacturer. J.D. Miller and Ann Stewart Patterson of CBRE/Raleigh represented First American Exchange Co. in the transaction.
LAPORTE — Overland Distribution has extended and expanded its lease for a total of 206,368 square feet of industrial space at Port Crossing Commerce Center, located at 1701 S. 16th St. in LaPorte. The property features 30-foot ceiling heights, 60 exterior docks, trailer storage and access to a rail transloading yard. Greg Egan of Leasesquarefeet.com represented the tenant in the lease transaction. Gary Mabray and Mike Taetz of Colliers International represented the landlord, a joint venture between National Property Holdings and ML Realty Partners.
IRVINE, CALIF. – A 59,213-square-foot R&D facility in Irvine has sold to an unnamed buyer for $6.5 million. The corporate headquarters facility is located at 1 Morgan in the Irvine Spectrum. The buyer was represented by Max Wang and John Griffin of Voit Commercial. The seller, One Morgan LLC, was represented by Charlie Winn and Craig Sullivan of DAUM’s Orange County office.
ASHAWAY, R.I. — Chase Hill Rd Properties has acquired a single-story, 170,000-square-foot manufacturing building at 50 Chase Hill Road in Ashaway. The building features concrete floors, 26-foot clear ceiling heights and 10,000 square feet of office space. The new owner plans to upgrade the property. Tim O' Callaghan of Binswanger represented the seller, Shamrock Associates, in the transaction.
LANCASTER — Prologis has signed a build-to-suit agreement for more than 1.2 million square feet of industrial space for a food and beverage company, located at Prologis Park 20/35 in Lancaster. At full build-out, Prologis Park 20/35 will include more than 3.1 million square feet. Construction of the facility is slated to begin in January 2013.
IRVINE, CALIF. – A 59,213-square-foot R&D facility in Irvine has sold to an unnamed buyer for $6.5 million. The corporate headquarters facility is located at 1 Morgan in the Irvine Spectrum. The buyer was represented by Max Wang and John Griffin of Voit Commercial. The seller, One Morgan LLC, was represented by Charlie Winn and Craig Sullivan of DAUM’s Orange County office.
ATLANTA — A joint venture between Los Angeles-based Carlaris Capital, an affiliate of Charles Dunn Co., and Beverly Hills, Calif.-based ARKA Properties Group has acquired a multi-tenant industrial property at 4099 Old Dixie Hwy. in Atlanta near Hartsfield-Jackson International Airport for $8 million. Jack Haden and Brad Pope of NAI Brannen Goddard represented the joint venture as well as the seller, I&G Henry Ford LLC/Jones Lang LaSalle. The industrial property includes two buildings known as 4100 Henry Ford II, Buildings 1 and 2. It is 46 percent occupied and new ownership plans to invest approximately $750,000 in marketing and capital improvements including the build-out of speculative office spaces.
LIVONIA, MICH. — Monmouth Real Estate Investment Corp. has acquired a 172,005-square-foot industrial building at 38401 Amrhein Road in Livonia for $14.3 million. The property is net leased to FedEx Ground Package System for 10 years. The property is situated on 12 acres.
ROGERS, MINN. — Chambers Street Properties has acquired 20000 S. Diamond Lake, a 280,000-square-foot warehouse and distribution building in Rogers, a Minneapolis suburb. The building, developed in 2004, is fully leased and features 32-foot clear ceiling heights, 32 loading doors and 215 parking spaces. The building is located in an established industrial park with regional highway access.