MCDONOUGH, GA. — Nexus Distribution Corp. has signed a 75,000-square-foot industrial lease, located in a 300,000-square-foot building at 120 Declaration Drive in McDonough. Brett Chambless and Dave Pals of Lee & Associates represented the tenant in the lease transaction. Wes Hardy of Duke Realty Corp. represented the landlord.
BLOOMINGTON, ILL. — The Boulder Group has arranged the $16.3 million sale of single-tenant General Services Administration (GSA) property at 1201 N. Mitsubishi Motorway in Bloomington. The 133,512-square-foot facility is fully occupied by the Internal Revenue Service and was developed in 2008. The IRS National Distribution Center serves customers of the IRS. The GSA consolidated three other national IRS distribution centers to the facility in 2008. The GSA has 11 years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private partnership in Colorado. The buyer was self-represented and purchased the property to fullfill a 1031 tax-deferred exchange.
BROCKPORT, N.Y. — Silagi Development & Management has purchased a 328,000-square-foot industrial building in Brockport from PetSmart. The property is situated on 32 acres at 1989 Transit Way and includes 280,000 square feet of distribution space and 48,000 square feet of office space. The new owner plans to upgrade and sell or lease the building. Built in 1989, the facility features 6-inch concrete floors and 26-foot ceiling heights in the warehouse. The office includes private offices, a full-service cafeteria and two back-up generators. Jim Panczykowski of Binswanger represented both parties in the transaction.
DALLAS — Stream Realty has arranged the sale of a 69,000-square-foot warehouse, located at 8939 Premier Row in the Brook Hollow submarket of Dallas. Jason Moser of Stream represented the buyer, Shiva Exports, in the transaction.
SURPRISE, ARIZ. — The Surprise City Council has approved plans for the largest building ever constructed within the city limits, a $10-million, 418,000-square-foot spec manufacturing facility at Skyway Business Park. It will be developed by Skyway LLC on 24 acres at the Skyway Business Park just south of Cactus Road and west of Dysart Road. Skyway LLC is headed by Moshi Silagi, a commercial real estate developer from Thousand Oaks, Calif.
MEMPHIS, TENN. — TIAA-CREF has sold the 1.6 million-square-foot Southpark Distribution Center, a warehouse and distribution property located in Memphis. The five-building park is 46 percent leased. Tenants include Genesis, Orchid Orthopedic Solutions, PFS Web and TiGenix & Cognate BioServices. Stewart Calhoun, Jim Carpenter, David Meline, Samir Idris, Casey Masters, Dave Curran and Wyatt Aiken of Cushman & Wakefield represented the seller in the transaction. Hillwood Investment Properties was the buyer.
ONTARIO, OHIO — Brownfield Communities Development Co. (BCDC) has agreed to buy the former General Motors Stamping Plant at 2525 W. Fourth St. in Ontario from Racer Trust. The Miami developer plans to repurpose the 2.5 million-square-foot building into a modern, multi-tenant facility. BCDC has identified two tenants for the site that are expected to bring 1,100 new jobs to the area. Racer Trust, known as Revitalizing Auto Communities Environmental Response Trust, was created in March 2011 to sell the facilities GM had to leave behind because of its bankruptcy and the taxpayer bailout of $50 billion. The Mansfield-Ontario Stamping Plant is GM's 17th property to be sold. Total sales so far have exceeded $24 million.
JOLIET, ILL. — Johnstone Supply Inc. has signed a 10-year lease for 236,273 square feet at 3500 Corporate Drive in Joliet. It is the first industrial property in Illinois to be occupied by Johnstone Supply, a national wholesaler and distributor in the heating, ventilating, air conditioning and refrigeration industry. State Teachers Retirement System of Ohio owns the 442,484-square-foot distribution facility. Johnstone's lease includes 8,600 square feet of office space and a hazardous materials room. The company plans to move into the space in January 2013. Steven Tick of Podolsky Northstar CORFAC International represented the tenant in the transaction.
NORTH BERGEN, N.J. — Cory 1st Choice Home Delivery has signed a lease for 175,000 square feet at 5601 Westside Ave. in North Bergen. The company, which specializes in warehousing and home delivery of fine furnishings, appliances and consumer electronics, relocated its primary distribution operation to the property from Elizabeth, N.J. The property is five miles from the Lincoln Tunnel and is positioned between Interstate 95 and Interstate 80. Stan Danzig, Jules Nissim, Stephen Elman and Cathy Bounczek of Cushman & Wakefield represented the tenant in the transaction. Hartz Mountain Industrials owns the building.
HOUSTON — Oak Brook, Ill.-based Inland Real Estate Acquisitions has purchased the 256,815-square-foot, two-building FedEx Center, a distribution facility located at William P. Hobby Airport in Houston, for $39.3 million. FedEx Corp. is the guarantor for both facilities, which are leased for more than 10 years to FedEx Freight and FedEx Ground.