REDONDO BEACH, CALIF. – A 103,000-square-foot industrial property in Redondo Beach has sold to Terreno Realty Corporation for $14.2 million. The property is located at 2475-2477 Manhattan Beach Blvd. It is fully leased to one tenant.
COLUMBUS, OHIO — Hackman Capital, an investment firm based in Los Angeles, has purchased a 2.8-million-square-foot industrial portfolio from Schottenstein Property Group. The portfolio contains 45 industrial and flex buildings. Fourty-four of the facilities are located in the Columbus metro area and one is located in Ruther Glen, Va. Hackman will oversee the new assets, along with its Midwest operations, from its Columbus office.
HOUSTON — HFF has arranged the sale of a four-property industrial portfolio located in Houston, which totals approximately 935,937 square feet. The properties include the six-building, 205,812-square-foot Astro Business Park, which is 93 percent leased and located at 8825-9087 Knight Road; the two-building, 225,475-square-foot Griggs 1 and 2, which is 91 percent leased and located at 5990-6018 Griggs Road; the four-building, 298,081-square-foot McCarty Business Park, which is fully leased and located at 245-279 McCarty Trail; and the four-building, 206,569-square-foot Westpark 1-4, which is 88 percent leased and located at 8710-8798 Westpark Drive. Rusty Tamlyn and Trent Agnew of HFF's Houston office, along with Randy Baird, Jud Clements and Robby Rieke of HFF's Dallas office, represented the sellers, Dallas-based Cobalt Capital Partners, in the sale. The buyer was San Francisco-based Stockbridge Capital Group.
CARROLLTON — Hudson Peters Commercial has arranged the sale of a 150,000-square-foot industrial property, located at 1235 W. Trinity Mills Road in Carrollton. Michelle Hudson of Hudson Peters Commercial represented the buyer, Earl Owen Co., in the transaction. Noel Hutcheson of Colliers International represented the seller, Acquiport DFWIP Inc.
VICTORVILLE, CALIF. — Pacific Aviation Group, LLC and Fastenal Company have signed new leases at the Southern California Logistics Centre (SCLC) in Victorville. SCLC is a 2,500-acre industrial and commercial complex that is currently undergoing an expansion. Pacific Aviation signed a 64-month renewal that will allow the company to expand into a 58,732-square-foot facility. Fastenal Company signed a 36-month renewal for its 6,322-square-foot facility. The lease renewals were executed by Anita Tuckerman of Stirling Capital Investments.
BATTLE CREEK, MICH. — Agracel Inc., an industrial developer, has purchased a 308,730-square-foot distribution building at 2500 Logistics Dr. in Battle Creek. The property is situated on 24 acres and features 26-foot clear ceiling heights, 33 truck docks, one drive-in door and 7,650 square feet of air-conditioned office space. The facility is situated midway between Chicago and Detroit off I-94 in the Fort Cluster Industrial Park. Rob Gemerchak of Binswanger represented the seller, MS Skyline LLC, in the transaction.
FENTON, MICH. — Panattoni Development Co. has acquired a vacant 534,600-square-foot industrial building in Fenton, located about 17 miles from Flint, Mich., for a reported $9 million. The building at 211-2231 Hitzert Court was constructed by Chrysler in 2000 and designed as a material supply building. The warehouse stored parts used to assemble vehicles at the adjacent Chrysler plant. The property features rail service by Burlington Northern and is located at the I-44 and I-270 arteries. Terry Stieve and Katie Haywood of Jones Lang LaSalle represented the seller in the transaction. Panattoni was self-represented by Mark Branstetter.
TEXARKANA — A joint venture between McCarthy Building Cos. and GCC Enterprises has started construction on the $40.5 million Red River Army Depot, a 230,000-square-foot vehicle assembly building located in Texarkana. Upon completion, which is slated for April 2014, the facility will be responsible for the overhaul, repair and return of the Army's combat and support vehicles. The facility will include a high-bay maintenance facility, interior offices and a cafeteria. The building was designed to achieve LEED Silver certification.
HOUSTON — Atlanta-based Weeks Robinson Properties and Houston-based Avera Cos. plan to develop the 562,000-square-foot Rampart Corporate Center, an industrial park located on a 40-acre site at West Little York and Holliston roads in Houston's northwest industrial submarket. The industrial park will consist of a 131,000-square-foot rear-load building, which is slated for an October 2012 delivery. Restoration Hardware has pre-leased 70,500 square feet in the facility, known as Building 100. The other two buildings include a 300,000-square-foot cross-dock facility and a 132,000-square-foot front-load facility. Powers Brown Architecture is designing the industrial park and Angler Construction is the contractor for Building 100. Faron Wiley of CBRE Group is handling the park's leasing and Carl Mullis and Billy Gold of CBRE Group represented Restoration Hardware in its lease transaction.
LA PORTE — Developers ML Realty Partners and National Property Holdings have selected Cadence McShane Construction Co. to build Port Crossing — Building A3, a 261,630-square-foot distribution facility located at 1902 S. 16th St. in La Porte. The facility is located within the 300-acre Port Crossing Commerce Center, a commercial/industrial park. The facility will feature staging bays, 47 dock-high loading doors, 16 rail-served doors, two grade-level ramps and 68 designated trailer parking spaces, a textured tiltwall panel exterior, ESFR sprinkler system, build-to-suit offices and 21 employee/visitor parking spaces. Houston-based Munson Kennedy Partnership is providing architectural services for the project.