FOREST PARK, OHIO — Stan Johnson Co. has brokered the sale of a 149,760-square-foot industrial building in Forest Park, Ohio to Chicago-based Brennan Investments for $6.1 million. The building is 100 percent occupied by National Bedding Co. Built in 2004, the property is situated on 12 acres at 1680 Carillon Blvd.
CEDAR RAPIDS, IOWA — Construction is complete for a new $38 million Armed Forces Readiness Center complex for the Iowa Army National Guard, located at 1500 Wright Brothers Blvd. in Cedar Rapids, Iowa. The project consisted of a 113,000-square foot Armed Forces Reserve Center and a 60,500-square-foot field and maintenance shop. Jeff Smith of Minneapolis-based Opus Design Build LLC was the project's management director. The complex opened Sept. 1.
NEWARK, N.J. — Brooklyn, N.Y.-based Damascus Bakeries, a commercial baking company, broke ground on its 117,000-square-foot industrial building, located at 60 McClellan St. in Newark, N.J. Damascus reportedly purchased the building for $3.5 million and will invest close to $1.2 million in site upgrades for its new bakery facility. Construction is expected to be complete by early 2012. Mike McCormack of Hollister Construction Services is the project manager.
TEMPE, ARIZ. – Normal Junction, a two-building, 140,000-square-foot warehouse/distribution center in Tempe, has sold to BlackRidge Real Estate Group for $7.65 million. The buildings are situated on 7.22 acres at 1895 South Los Feliz Drive and 1715 South Holbrook Lane. Cushman & Wakefield’s Mark Detmer, Bo Mills, Will Strong and Jackie Orcutt represented both the buyer and the seller in this transaction. The team will continue to act as the property’s exclusive leasing agent. Normal Junction is currently home to General Dynamics and Jabil Circuit, among other tenants. There is one 20,000-square-foot unit currently available.
CHINO, CALIF. — The Carson Companies has retained Grubb & Ellis’ Mark Kegans and Ron Washle, senior vice presidents in the firm’s Industrial Group, to market and lease its new 398,000-square-foot speculative industrial development inside the Chino South Business Park. Kegans and Washle will carry out this task alongside their firm’s Global Logistics practice group. The facility is currently seeking LEED certification. It is scheduled for completion in the first quarter of 2012.
PEN ARGYL, PENN. — Michael Baxter & Associates Commercial Real Estate & Property Management has arranged the lease of 51,660 square feet of warehouse and distribution space, located at 636 Pen Argyl Ave. in Pen Argyl, Penn. Dan Perich of Michael Baxter represented the tenant, Pen Argyl-based Forza Boxing LLC, a martial arts equipment company. Joseph Baxter and Michael Baxter represented the landlord, Pen Argyl-based Scotty's Fashion Cutting Inc.
HOUSTON AND MCKINNEY — The board of directors at St. Louis, Mo.-based Emerson has approved the investment of approximately $55 million for two construction projects in Houston and McKinney. Emerson will invest $30 million to build a 205,000-square-foot engineering and manufacturing headquarters in Houston for the Emerson Process Management's valve automation business. Construction is slated to begin in early 2012. Emerson will also invest approximately $25 million to build a three-story, 132,000-square-foot headquarters for the Emerson Process Management's regulator technologies business in McKinney. Construction is expected to begin in early 2012 and be delivered in late 2013.
CORPUS CHRISTI — Monmouth Real Estate Investment Corp. has acquired a 46,253-square-foot industrial building, located at Pinson Drive and Business Center Drive in Corpus Christi, for $4.9 million. The property is net-leased through 2021 to FedEx Ground Package System. Jones Development Co. constructed the building earlier this year.
BLYTHEWOOD, S.C. — Columbia, S.C.-based NAI Avant has arranged the $1.95 million sale of a 35,800-square-foot industrial property, located at 1101 Carolina Pines Dr. in Blythewood. Nick Stomski of NAI Avant represented ALD Thermal Treatment, the seller, in the transaction. The buyer was Spirax Sarco.
MILWAUKEE, WIS. — Milwaukee-based Athea purchased a 245,000-square-foot industrial facility, located at 1900 W. Cornell St. in Milwaukee, for an undisclosed amount. Milwaukee-based Cassidy Turley Barry represented both sides of the transaction. David Barry and Kurt Van Dyke represented the seller, Norcross, Ga.-based Rock Tenn, and James Young represented Athea.
