CHICAGO — Atlanta-based Best Warehousing & Transportation Center has renewed its 56,051-square-foot lease at a West Chicago industrial facility owned by DCT Industrial Trust. Best Warehousing is a third-party logistics firm and the facility is its first location in Illinois. Brad Borkowski of HSA Commercial Real Estate represented the tenant in the transaction. David Prell and Kirk Armour of CBRE Group represented the owner.
Industrial
MONROE, MICH. — MHOC LLC has purchased 1800 Frenchtown Center Dr., a 129,037-square-foot industrial facility in Monroe. Brad Viergever, Steve Gordon and Craig Herschel of Signature Associates represented the seller, Equity Industrial Monroe, in the transaction. Viergever and Jim Montgomery of Signature Associates also represented the seller.
DENVER, PA. — 412 Oak St. LP has acquired an 80,280-square-foot warehouse, located at 412 Oak St., for $1.8 million. John Thury of NAI Commercial Partners represented the seller, Park Place PA LLC. Robert Ramsay, also of NAI Commercial, represented the buyer.
PHOENIX — A 170,625-square-foot industrial warehouse facility in Phoenix has sold to 67th Phoenix Industrial LP for $7.16 million. The facility was built in 2002 and is fully leased. Steve Farrell and Allen Lowe of Lee & Associates represented the buyer. The seller, the Richard A. Black and Family Trust, was represented by CBRE’s Barry Gabel and Mindy Korth.
VISALIA, CALIF. — Visalia Mini Storage, a 66,040-square-foot Self-Storage Facility in Visalia, has sold to an unnamed buyer for $2.7 million. The property was built in 1990 and is located at 725 North Plaza Drive. Christopher R. Secreto represented the seller, a partnership, in this transaction.
OTUMWA, IOWA — GladStone Commercial Corp. has purchased a 352,869-square-foot bottling plant in Ottumwa for $7.1 million. The building is leased to the American Bottling Co. American Bottling is the largest operating subsidiary of Dr Pepper Snapple Group Inc., responsible for bottling and distributing beverage brands including Dr Pepper, 7UP, A&W, Snapple and Hawaiian Punch.
WHIPPANY, N.J. — Griffin Capital Net Lease REIT has purchased a 114,300-square-foot assembly and manufacturing facility at 110 Algonquin Parkway in Whippany for $13 million. The property is fully leased to GE Aviation Systems, a division of General Electric Co. The building is approximately 25 miles northwest of Newark Liberty International Airport. Griffin Capital is a non-traded REIT that is the flagship of Griffin Capital Corp. of Los Angeles.
DALLAS — New York-based DRA Advisors has selected Dallas-based Stream Realty Partners to provide property management and leasing services for a portfolio of industrial properties in Texas and Georgia it acquired from Weingarten Realty Investors, which totals approximately 7 million square feet. The properties span across Atlanta, Austin, Dallas, Houston and San Antonio. Stream's leasing and management portfolio now totals nearly 85 million square feet.
MARSHALL — Levey Group recently executed a 10-year, build-to-suit lease agreement with Houston-based Philips Service Corp. (PSC) to construct a 28,000-square-foot industrial facility, located on a 9-acre tract of land along Highway 20 in Marshall. Levey Group will purchase, develop and own the site. Levey Construction, a division of Levey Group, is slated to break ground on the warehouse and crushed concrete laydown yard in September.
OAK BROOK, ILL. — Oak Brook-based Inland Real Estate Acquisitions has purchased a portfolio of nine retail bank branches located in Ohio, North Carolina, Florida and Georgia for a total of approximately $18.6 million. The portfolio includes five Ohio properties leased to KeyBank N.A., two Regions Bank locations in Georgia and two BB&T locations in North Carolina and Florida, which total 42,882 square feet. The buyer was self-represented by Joe Cosenza.