BRISTOL, IND. — FM Stone Commercial has brokered the sale of a 108,768-square-foot industrial property located within Earthway Industrial Park in Bristol. Kem Krest Corp. purchased the facility, formerly occupied by Gunite Corp., for more than $2 million and plans to use it for the company's auto kitting and packaging operations. Peter Letherman of FM Stone represented Kem Krest in the deal. The seller's name was not released.
SOUTH HACKENSACK, N.J. — Gretchen Wilcox and Al Raymond of Morristown, N.J.-based G.S. Wilcox has secured a fixed-rate, $12 million commercial mortgage loan through Great West Life for a 140,838-square-foot warehouse property leased on a long-term basis to a retail restaurant supply distributor.
WILMINGTON, MASS. — A 177,350-square-foot industrial building and approximately 12.17 acres of land, located at 30 Industrial Way in Wilmington, has sold for $4.5 million. Gregory Cahill and Rob Cronin of Lincoln Property Co.'s Boston office represented the seller, Beckwith Realty. The buyer was self-represented.
PFLUGERVILLE – Orlando, Fla.-based Macquarie CNL Global Income Trust, Inc. has purchased a distribution center in Pflugerville fully leased to FedEx Ground Package System, Inc. for $4.5 million. Built in 1991, the 51,189-square-foot distribution center is located on 12.29 acres adjacent to Interstate 35 with direct access to State Highway 45 and downtown Austin. Macquarie CNL Global Income Trust intends to qualify as a real estate investment trust and plans to build a portfolio of U.S. and international properties.
VICTORVILLE, CALIF. — One of the world's largest confectionary companies has leased a 495,000-square-foot industrial facility within Victorville's Southern California Logistics Centre (SCLC). The 10-year lease is valued at $17.5 million. The facility will serve as a warehousing and distribution center for the company. Cushman & Wakefield's John McMillan and Phil Lombardo represented the confectionary company. CBRE's Jay Dick and Mark Latimer represented SCLC's owner, Stirling Capital Investments.
MIAMI — Cushman & Wakefield has negotiated a 142,000-square-foot industrial lease at Dolphin Distribution Center, located at 3301 NW 107th St. in Miami, on behalf of AMB Property Corp. Brian Smith, Wayne Ramoski and Audley Bosch of Cushman & Wakefield's Miami office represented the landlord in the transaction. Mike Silver and Allen Lindow of CB Richard Ellis represented the tenant, Atlas Paper Mills. Atlas Paper Mills currently has a lease at AMB Blackfin Distribution Center, another AMB Property Corp. location, which expires in 2012.
LEWISVILLE – DOcean Investments LLC has purchased 2.47 acres of land at the corner of Riverview Drive and Jubilee Lane in the Riverview Industrial Development in Lewisville. West Dixon Holdings LLC sold the property that is zoned for heavy industrial and surrounded by existing industrial developments. DOcean Investments plans to development an industrial facility that will be completed in 2012. Dan Spika of Henry S. Miller Brokerage represented the buyer.
BESSEMER, ALA. — Dollar General has broken ground on its 10th distribution center, to be located on more than 100 acres at 4101 Lakeshore Pkwy. in Bessemer. The $100 million facility will serve more than 1,000 stores in the Southeast when it opens in early 2012. Leo A. Daly is the architect on the project and Clayco is the general contractor.
INDEPENDENCE, MO. — Grindstone Industrial Properties has brokered the sale of a 30,000-square-foot industrial property located at 14912 E. Truman Road in Independence. Paul Neal of Grindstone represented the seller, John Pepper. Brad Carrender of Realty Professionals represented the buyer, Robin's Autos. The purchase price was not released.
GREEN OAKS, ILL. — Chicago-based HSA Commercial Real Estate has arranged two industrial leases totaling 104,561 square feet at Green Oaks Business Center, a three-building, 461,943-square-foot industrial park located in Green Oaks. Advanced Packaging & Fulfillment leased 66,658 square feet at 13820 Business Center Drive. HSA's Douglas Reed represented the tenant as well as the landlord, IAC Green Oaks LLC, in lease negotiations. In addition, Neptun Lighting leased 27,903 square feet at 13950 Business Center Drive. Reed represented the same landlord, and Matt Jarosz of Eger & Associates represented the tenant.