FRASER, MICH. — Returnable Packaging Corp., which specializes in custom-designed packaging systems, has inked a new lease for 34,675 square feet of industrial space at 33525-33545 Groesbeck Highway in Fraser. Ben Wilkiemeyer and Paul Saad of Signature Associates represented the landlord, JF&T LLC in the transaction.
Industrial
IMLAY CITY, MICH. — Rlandco has purchased a 72,500-square-foot industrial building at 611 Industrial Parwkway in Imlay City for an undisclosed amount. Joe Hamway of Signature Associates represented the seller, Windcrest Properties. He also represented Rlandco, which is expanding its operations in Michigan.
DALLAS — Dallas-based Capstone Commercial Real Estate Group has brokered the sale of a 12,228-square-foot office/warehouse property, located at 4241 Sigma Rd. in Dallas. Larry Robbins of Capstone represented the undisclosed seller in the transaction. Nathan Malka of Dallas-based Gable Realty Group represented the buyer, a local investor.
SANTA BARBARA, CALIF. — A 47,411-square-foot industrial property at 25 E. Mason Street in Santa Barbara has sold to East Mason SB, LLC for $9 million. The building is currently 67 percent occupied by Brooks Institute of Photography. Clarice Clarke and Stephen Leider of Lee & Associates’ Santa Barabara office represented both the buyer and the sellers, Rossi Trading Company, LLC. and Scanlin Family Trust, in this transaction.
ATHENS, GA. — Caterpillar has selected a site near Athens to build a $200 million, 1 million-square-foot manufacturing facility. The property will be part of Caterpillar's Building Construction Products Division, which is based in Cary, N.C. Once fully operational, the facility will employ 1,400 people. Ground breaking is slated to occur in the first quarter of 2012, with initial production at the facility to begin in late 2013, ramping up to full production during a 5-year period.
AURORA, ILL. — The distribution branch of the Vescovini Group, an Italian-based manufacturing company, has signed a 55,161-square-foot lease at 1455 Sequoia Dr. in Aurora. The facility will be the company's first distribution center in the U.S. Jeff Girling and Terry Lynch of Paine/Wetzel represented the tenant in the transaction. The landlord, IDI, was represented in-house by Jeff Lanaghan of the company's Chicago office.
COON RAPIDS, MINN. —Grandbridge Real Estate Capital has arranged a $3 million loan for the refinancing of three industrial properties totaling 95,000 square feet in Coon Rapids. The properties are 95 percent occupied. Ben Fazendin and Crhis Perry of the Minneapolis of Grandbridge originated the loan. RiverSource Life Insurance Co. provided funding for the 10-year loan, which includes a 25-year amortization schedule.
FORT WORTH — Dallas-based Bradford Commercial Real Estate Services has arranged a 15,545-square-foot industrial lease, located in Building 2 at 7873 S. Will Rogers Blvd. in Fort Worth. Nick Talley of Bradford Commercial represented the landlord, Carter Industrial Partners, in the lease transaction. Tyler Baucom of HGC Commercial Real Estate's Fort Worth office represented the tenant, Rubber & Gasket Co.
CLAREMONT, CALIF. — A 69,428-square-foot, six-building industrial park in Claremont has sold to a private investor for $8,775,000. The business park was built in 1988 and is composed of five single-tenant buildings and one multi-tenant building. It was fully leased at the time of sale. The seller, Claremont Business Park, LLC, was represented by Grubb & Ellis’ Robert Griffith and Steven Ward.
MONROE, N.C. — Choate Construction Co. has been selected to construct a 99,500-square-foot addition to Greiner Bio-One N.A.'s manufacturing facility, located at 4238 Capital Dr. in Monroe. The addition will include a 15,000-square-foot mezzanine structure with executive office areas on the upper level and lab areas with a controlled environment below.