MILWAUKEE — Central Asset Management has purchased a flex building at 5355 S. 27th St. in Milwaukee for $120,000. Steve Sewart, Dan Wroblewski and Lyle Landowski of Colliers International represented both parties in the transaction.
EXTON, PA. — Morphotek has opened an $80 million manufacturing plant in Exton, which will begin production operations later this year. The 60,000-square-foot facility will enable the company to make proprietary biologic therapeutic products for use in early-stage clinical trials. Its new product pipeline includes antibodies to treat cancer and autoimmune diseases.
HOUSTON — Jones Lang LaSalle has arranged a 116,000-square-foot lease for an industrial property, located in the Hempstead Highway Distribution Center at 11850 Hempstead Highway in Houston. The tenant, Dal-Tile, is renewing its existing 75,000-square-foot lease and is expanding an additional 41,000 square feet. John Talhelm and Kevin Erck of Jones Lang LaSalle represented the tenant in the lease transaction. Brian Gammill of Transwestern represented the landlord.
FORT MILL, S.C. — Beacon Partners has acquired a 303,188-square-foot industrial property, located at 2200 Carolina Place Drive in Fort Mill, for $4.7 million. The property is currently vacant. The buyer plans to renovate the property to improve its functionality and appearance. Lawrence Shaw of Colliers International represented Sterling Properties, the seller, in the transaction.
DEERFIELD BEACH, FLA. — Boywic Farms Ltd. has sold a 37,489-square-foot industrial property, located at 508 S. Military Trail in Deerfield Beach, to Novomatic Americas Real Estate for $3.4 million. Martin Buelow of Sellstate Priority Realty represented the buyer in the transaction. Todd Weaver of NAI Rauch Weaver Norfleet Kurtz & Co. represented the seller.
TEANECK, N.J. — Grant & Joy Lee Family LLC has acquired a 184,000-square-foot industrial property in Teaneck from curtain and bedspread importer Beacon Looms for $6.1 million. Michael Schaible of Lee & Associates New Jersey represented the seller, the Sadinoff family, who founded the textile company in 1941 in New York City. Beacon will close its doors as the third-generation owner of the company retires. Bowen Pak of Eastern International Realty represented the buyer. The property will serve as a company headquarters and primary distribution center for Grant Electrical Distributors.
OTAY MESA, CALIF. – JJB Silverhawk, a Hamann partnership, has purchased 16.6 acres of commercial land in Otay Mesa for $3.8 million. The lot is currently entitled for 335,000 square feet of warehouse/manufacturing space. This is Hamann’s third Otay Mesa purchase within the past eight months. CBRE’s Rob Hixson and Rich Kwasny represented both the buyer and the seller, South Bay Distribution, LLC, in this transaction.
POMPANO BEACH, FLA. — Atlanta-based Weeks Robinson Properties and Jeremy Shapiro of Miami-based Mainstream Investment Realty plan to build a 202,000-square-foot speculative industrial project, located at 3901 NE 12th Ave. in Pompano Beach. The Class A building will include 32' clear heights, an ESFR sprinkler system and 180' truck courts. Itasca Construction is the contractor for the development and Randall Paulson Architecture is the designer. Ground breaking is scheduled within the next 60 days, and completion is slated for April 2013.
STERLING HEIGHTS, MICH. — Sterling Heights Titleholder has paid $3.35 million for a 66,312-square-foot industrial facility at 6833 Center Dr. in Sterling Heights. Built in 1998, the freestanding building recently underwent significant upgrades. The property is leased to a tenant on a long-term basis. Larry Emmons, Patrick Shannon and Mike Davidson of Newmark Grubb Knight Frank represented the seller, First Industrial Realty Trust, in the transaction. Shannon and Tony Avendt, also of Newmark Grubb Knight Frank, represented the buyer.
PASADENA — Vantex Commercial Property Group has brokered a lease renewal for 300,000 square feet of industrial space at Bayport North Distribution Center II, located at 4331 Underwood in Pasadena. Walter Menuet of Vantex represented the landlord, Bayport II Mountain West Houston LLC, in the lease renewal transaction. Randy Wolcott of ProVenture Commercial Real Estate represented the tenant, Ozburn-Hessey Logistics.