COLUMBUS, OHIO — Boston-based Stag Industrial Inc. has acquired a 380,000-square-foot warehouse and distribution facility located near Columbus, Ohio for $7.8 million. The facility is fully leased to Ridgeland, Mo.-based Arrow-Intechra LLC with more than six years remaining on the lease.
Industrial
WESTFIELD, MASS. — Gulfstream Aerospace, a jet aircraft manufacturer, is expanding its service center at Barnes Regional Airport in Westfield, Mass. by investing approximately $20 million to build a 100,000-square-foot maintenance facility. The facility will be adjacent to the existing 85,000-square-foot facility.
WOODVILLE — Gemma Power Systems has signed an engineer-procure-construct contract with East Texas Electric Cooperative for a $165 million agreement to develop a biomass-fired power plant near Woodville. The project is slated for a December 2014 completion.
KNOXVILLE, TENN. — Bob Thorton of Knoxville-based Baker Realty Co. has negotiated four lease transactions in Knoxville, totaling 155,000 square feet. The transactions include: Guardian Building Products leasing the 37,210-square-foot Cedar Bluff Building, a distribution center, from NatKnox; Batesville Casket leasing 9,797 square feet of office and warehouse space from Sam Farrow; J.B. Hunt Transport leasing 18,000 square feet of warehouse space from J&J Properties; and ABC Supply signing a 100,000-square-foot lease for warehouse space from Mullins, D.C. Thorton represented both parties in all four transactions.
NORTHVALE, N.J. — Weichert Commercial Brokerage Inc. has completed the sale of an 80,000-square-foot industrial warehouse building, located at 108 Fairway Ct. in Northvale, N.J., for $6 million. Sang Oak Ra of Weichert represented the buyer, Pointe International, in the transaction. Jim Tully of CBRE represented the seller.
CHARLOTTE, N.C. – Mt. Pleasant, S.C.-based Ziff Properties has purchased the 60,000-square-foot Maplecrest Industrial Center, located at 2905 Westinghouse Blvd. in Charlotte, for $2.3 million. The buyer was self-represented by Christian Chamblee and Shaun Payne. Rob Speir of Colliers International and Brad Cherry of Jones Lang LaSalle represented the seller.
STREETSBORO, OHIO — Luttner Real Estate Investment Services has arranged the $19.6 million sale of a 368,060-square-foot distribution center, located in Streetsboro. The property is fully leased to Best Buy. Mark Luttner of Luttner Real Estate represented the seller, Ohio-based GEIS Cos., in the transaction. The buyer was a New Jersey based public REIT.
NAPERVILLE, ILL. — JBS Logistics has signed a 303,800-square-foot lease at Building 3 of Prairie Pointe Corporate Center, located at 2043 Corporate Ln. in Naperville. Jeff Fischer of NAI Hiffman represented the tenant in the lease transaction. Rick Daly and Cory Ramey of Darwin Realty represented the landlord, IDI and TIAA.
WEST ALLIS, WIS. — Winter Services has purchased a 33,400-square-foot industrial building, located at West Allis, from Rose Investments. Maximilian Yokosh and Kenneth Braden of Milwaukee-based Cassidy Turley Barry represented the seller in the transaction. Adam Matson of NAI — MLG Commercial represented the buyer.
LANCASTER, PA. — Bird-In-Hand, Pa.-based B&B Structures has purchased a 29,000-square-foot industrial property, located at 2200 Hathaway Rd. in Lancaster, for $900,000. Gerry Blinebury and Leah Balerno of Cushman & Wakefield's Philadelphia office represented the seller, while Scott Bradbury of U.S. Commercial Realty represented the buyer.