WILMER — CB Richard Ellis Realty Trust has acquired the 1 million-square-foot Whirlpool regional warehouse located in the First Park DalPort Business Park in Wilmer. Gary Jaye of CBRE Investors represented CBRE Realty Trust in the transaction. “We were able to meet a major prospective tenant's needs by pairing them with one of four preferred development partners,” said Jack Cuneo, president and chief executive officer of CBRE Realty Trust, in a statement. “At the same time, we were exposed to no development risk, being obligated to purchase the property only upon completion of construction.”
SPOTSWOOD, N.J. — Iselin, N.J.-based Sperry Van Ness | Richter Grusd has closed the sale of an 80,000-square-foot industrial building, located at 192 Summerhill Rd. in Spotswood, for $3.5 million. Iris Borger, Doug Richter and Ian Grusd of the firm represented the buyer, Dart Seasonal Products, and Kyle Eaton and Tom Kirczow of Grubb & Ellis' Edison, N.J., office represented the seller, Greif, in the transaction.
AURORA, ILL. — hhgregg has signed a lease for 247,360 square feet of warehouse space at Prairie Point West, a two-building, approximately 1 million-square-foot industrial park located in Aurora. The retailer will occupy over half of the space within Building A, which is located at 2176 Diehl Road. The Indianapolis-based company will use the facility as its Chicagoland distribution center. Kirk Armour and David Prell of CB Richard Ellis represented the landlord, IDI, in lease negotiations. Lawrence Shaw of the Charlotte office of Colliers International partnered with Matthew Stauber of the firm's Chicago office to represent hhgregg.
NEW YORK CITY — Jones Lang LaSalle has completed a 3-year lease extension on behalf of Hunts Point Terminal Produce Cooperative Association for 660,000 square feet of warehouse space in the Bronx. Paul Mas and Michael Shenot, both with the JLL New York office, along with a team of members of the firm's New York and Parsippany, N.J., office, represented the market. Seth Pinksy of the New York City Economic Development Corp. represented the landlord in the transaction.
HOUSTON — John Janik, dba Electronic Power Design, has purchased 15200 Interstate 45 North, a 254,000-square-foot office/warehouse building situated on 19.3 acres in north Houston. Bill Rudolf and Gray Gilbert of CB Richard Ellis represented the seller, W.P. Carey & Co., LLC. Don Haley of Haley Martin Associates and Jack Butera of Butera Properties represented Electronic Power Design.
HOUSTON — B-Doune Investments has purchased a 10,800-square-foot industrial building at 1631 and 1633 Oak Tree Dr. in Houston. Darren O'Conor and Jim Autenreith of NAI Houston represented the seller, Roderick Wiggins. Cecille Sangalang of Sangalang Realty Group represented B-Doune Investments.
LOS ANGELES — Johnson Capital has arranged $47.3 million in permanent financing for eight industrial warehouse/distribution buildings in the Los Angeles area. The facilities, which are owned by a privately held entity, contain a total of 927,000 square feet. Terms for the 25-year loan include a sub-5% net fixed interest rate with a 25-year amortization schedule. This excludes prepayment costs tied to an early refinancing with the same lender. Johnson Capital also negotiated a flat one percent prepayment option after the 15th year of the loan term. Financing was arranged by Kevin Burkhalter, a senior vice president out of Johnson Capital's Los Angeles office and manager of the Burkhalter Group.
GEORGETOWN, KY. — Lexington, Ky.-based NAI Isaac has brokered the sale of a 97,500-square-foot industrial facility, located at 947 East Main St. Extended in Georgetown, to HGI-Kentucky for $2.3 million. The property was formerly a Johnson Controls facility. Bruce Isaac and Chad Voelkert of NAI Isaac and Michael Shigley of USI Real Estate represented the seller in the transaction, and Doug Butcher of CB Richard Ellis' Louisville office represented the buyer.
HOUSTON — Direct Airflow Distributors, Inc., dba Coastal HVAC Supply, has signed a 53,350-square-foot lease in Greenspoint Business Center, Building B in Houston. The company will relocate to the space in August from another 30,000-square-foot facility in Houston. Atlanta-based IDI owns Greenspoint Business Center, which features three existing industrial facilities for a total of 406,000 square feet as well as pads for five additional build-to-suit or speculative buildings for a total of 1.1 million square feet. The 106,700-square-foot Building B was developed in 2008 and is currently occupied by Merla, LLC, which has 26,000 square feet. Andy Iverson and Griffin Rich with Jackson & Cooksey represented Coastal HVAC Supply in the lease, while Ben Newell represented IDI.
VICTORVILLE, CALIF. — Red Bull has signed a five-year lease for 12,500 square feet of space at the Southern California Logistics Centre (SCLC). This facility will act as a regional warehouse and distribution center for Red Bull's energy drinks. SCLC is master planned for 60 million square feet of industrial and commercial development. The center is in the midst of Phase I development, which includes 6.5 million square feet. So far, 3,000,000 square feet have been constructed. Red Bull was represented by Cushman & Wakefield's Kyle Kehner and Robin K. Dodson. SCLC's owner, Stirling Capital Investments, was represented in-house by Anita Tuckerman.