OLIVE BRANCH, MISS. — Monmouth Real Estate Investment Corp. has acquired a 234,660-square-foot industrial building, located at 8644 Polk Ln. in Olive Branch, for $16.2 million. The property, which was a build-to-suit developed by IDI, has net-leased for 10 years to Anda Pharmaceuticals, a distribution division of Watson Pharmaceuticals.
NORCROSS, GA. — The 33,000-square-footo Northwoods Data Center, located at 2775 Northwoods Pkwy. in Norcross, has sold for $5.3 million. The property is fully leased through 2025 to a co-location tenant that operates in 10 separate markets and runs a total of 21 data centers. Kansas City, Mo.-based Carter Validus Mission Critical REIT was the buyer.
LOS ANGELES – NRI, the Canada-based third-party logistics firm, has ventured into Southern California. NRI USA, a strategic partnership between Canada’s NRI Distribution Inc. and Westlife Distribution, has leased 64,000 square feet at 13200 S. Broadway Ave. in Los Angeles. NRI USA was represented by Cushman & Wakefield’s Los Angeles South team of Rusty Smith, Steve Bohannon and Rooney Daschbach. Prologis, the building’s landlord, was represented in-house in this transaction.
ADDISON, ILL. — Micromatic Spring and Stamping Co. has purchased a 72,000-square-foot industrial building at 45 N. Church St. in Addison. Micromatic, which manufactures springs, wireforms and stamped products, is moving to the property from 9325 King St. in Franklin Park, Ill. Phil Reiff and Phil Reiff, Jr. of Paine/Wetzel/TCN Worldwide represented the buyer. Dan Brown and Mike Antonelli of Brown Commercial Group represented the seller, Lillypad Development. The purchase price was undisclosed.
CAMARILLO, CALIF. – A 32,110-square-foot industrial property in Camarillo has sold to Neff, Inc. for $3,204,201. The property is located in a master-planned business park. It includes a two-story office space. The seller, DeRado Trust, was represented by Timothy P. Foutz of NAI Capital’s Encino, Calif., office.
FARMERS BRANCH — Lee & Associates has arranged the sale of a 10,400-square-foot industrial property, located at 13700 Diplomat Dr. in Farmers Branch. Mark Graybill and Donnie Rohde of Lee & Associates' Dallas office represented the seller, Jambros Partners Limited, in the transaction. The buyer was Smooth-On.
CAROL STREAM, ILL. — MC², an event and trade show specialist, has selected Meridian Design Build to renovate a 50,000-square-foot building, located at 160 E. Fullerton in Carol Stream. Colony Realty Partners owns the single-tenant industrial building. The building will house MC²'s manufacturing operations, which will be relocated from its existing facility at 2120 S. Jefferson in Chicago. Ware Malcomb is providing architectural services for the project. Marat Safir of Taurus Realty Partners represented MC² in the deal. Tom Condon and Brian Kling of Colliers International's Rosemont, Ill. office represented the ownership.
LONG BEACH, CALIF. — A two-building, 121,127-square-foot industrial park in Long Beach has sold to Rader Properties Group 14 for $8.25 million. The multi-tenant park is located at 701-733 West Anaheim Street and 700-806 West 14th Street. Colliers’ Patrick Remolacio and Bret Hardy, along with co-listing partners David Prior and Murray Smith of the Klabin Company, represented both the buyer and the seller, Bechler Corp, in this transaction. Bill Townsend of INCO Commercial, also assisted with this transaction and is the project’s leasing agent.
SOUTH BEND, IND. — Boston-based Stag Industrial Inc. has acquired a warehouse and distribution facility in South Bend for $6.8 million. The 225,000-square-foot building was constructed in 1994 and is fully leased. The acquisition brings Stag's total acquisition volume to approximately $139.1 million since its initial public offering in April 2011.
COMPTON, CALIF. — Topson Downs has leased 123,000 square feet of distribution space in the Dominguez Hills Industrial Park. The space is located at 2500 South Edison Way in Compton. The apparel manufacturer’s new facility also includes 10,000 square feet of office space. Topson Downs was represented by Mike Poyer of Capital Real Estate Advisors. The building’s owner, Prudential Real Estate Investors, was represented by Rooney Daschbach, Steve Bohannon, Rusty Smith, and Eric Daschbach of Cushman & Wakefield.