ADDISON, ILL. — Marcus & Millichap has arranged the $20.5 million sale of 350 Rohlwing Road, a 453,361-square-foot industrial building in Addison. The building is fully leased to Domtar Corp., a paper producer, which uses the facility as its Chicago metropolitan area distribution center. Marty Cohan of Marcus & Millichap represented the buyer, 350 WPI Rohlwing LLC, in the transaction.
MARION, ILL. — Dalfen America Corp. has selected Colliers International to market a 1 million-square-foot distribution facility, known as Interstate 57 Distribution Center, in Marion. IDI built the facility in 2000 to serve Circuit City Stores, and the center was later purchased by Dalfen once vacated. Charles Canale, Steven Kohn and Dave Gannon of Colliers International will market the property.
WATERTOWN, MASS. — 480 Biomedical has renewed its lease for 27,311-square-foot laboratory facility at 480 Arsenal St. in Watertown. The company develops bioresorbable scaffold for treating occlusive disease in the superficial femoral artery. 480 Arsenal St. is a 141,000-square-foot lab building located less than five miles from Interstate 90 and the Massachusetts Turnpike. Tucker Hansen and Joe Flaherty of Colliers International represented the tenant in the transaction. The landlord is Alexandria Real Estate Equities.
HOUSTON — Lone Star Partners has broken ground on Katy Green Business Parkway, a 26,480-square-foot office/warehouse project located near the northwest corner of Interstate 10 and Westgreen in Houston. Jim Autenreith and Jeff Barbles of Moody Rambin will handle leasing the property, which is expected to top off by year's end.
PHOENIX — A 131,000-square-foot industrial building in Phoenix has sold to Grand Canyon University for $6.4 million. The single-story flex building is located at 5115 N. 27th Ave. Grand Canyon was represented by Todd Noel of Colliers International’s Phoenix office. The seller, Crown Realty & Development, was represented by Will Strong of Cushman & Wakefield.
ALSIP, ILL. — Shannon Investments, an Illinois-based investor, has acquired 420-4252 W. 124th Place, an 18,500-square-foot industrial property. Built in 1970, the property is one mile from I-294 & Cicero/127th Interchange. Tim Wagener, Carrie Wagener and Andrea Hauger of Owen Wagener & Co. represented the seller in the transaction.
PISCATAWAY, N.J. — KMM Telecommunications has signed a long-term sublease agreement for 195,555 square feet of warehouse space at 21 Constitution Ave. in Piscataway. KMM provides supply chain services to the communications industry. Frank Truesdell, Joel Lubin and Brian Cass of Jones Lang LaSalle represented the property's sub-landlord, Verizon New Jersey Inc. KMM was represented in-house by John Campanelli of Jones Lang LaSalle. Developed to Verizon's specifications in 2004, 21 Constitution Ave. totals 288,115 square feet.
BOSTON — Silk Screen Printing Inc. has signed a 13,500-square-foot lease at 20 Old Colony Ave. in Boston. Silk Screen is expanding and relocating from Boston's Leather District. 20 Old Colony Ave. is comprised of two connected buildings totaling 71,801 square feet. J.P. Plunkett of NAI Hunneman represented the landlord, Cole Development, in the transaction. Bonny Doorakian of NAI Hunneman represented the tenant.
HOUSTON — Levey Group has plans to develop Sam Houston Business Park, the company's first industrial/flex business park, in Houston. The park will total 206,375 square feet on a 22.7-acre lot off Beltway 8 between Highway 290 and Highway 249 in northwest Houston. Building One will be a 73,500-square-foot flex facility with 27 rear-loading docks, Building Two will be a 70,875-square-foot distribution facility with 23 rear-loading docks and Building Three will be a 62,000-square-foot bulk distribution facility with 20 side-loading docks. Each facility is being built on a speculative basis. Munson Kennedy Partnership designed the business park, which is slated to break ground in the first quarter of 2013.
PHOENIX — A 131,000-square-foot industrial building in Phoenix has sold to Grand Canyon University for $6.4 million. The single-story flex building is located at 5115 N. 27th Ave. Grand Canyon was represented by Todd Noel of Colliers International’s Phoenix office. The seller, Crown Realty & Development, was represented by Will Strong of Cushman & Wakefield.
