BIRMINGHAM, ALA. — Graham & Co. has negotiated the $2.45 million sale of a 45,000-square-foot industrial property, located at 350 Industrial Dr. in Birmingham. Ogden Deaton of Graham & Co.'s Birmingham office represented Prime Properties of Alabama, the buyer, in the transaction. SCP 350 Industrial LLC was the seller.
COLUMBUS, OHIO — Morris, Smith & Fehy (MS&F) Inc. has arranged a $4.5 million first mortgage loan for a 63,744-square-foot industrial building in Ohio. The property is fully leased to Ferro Corp., a producer of specialty materials and chemicals, which are sold to a range of manufacturers. The 15-year loan has a 15-year amortization schedule. Jeff Morris of MS&F's Columbus office originated the loan on behalf of Davis Development Group.
BOSTON — Suffolk Construction has been selected to build a $21.5 million bioprocessing center at the University of Massachusetts Dartmouth. Located on a four-acre site 10 miles off campus, the 38,000-square-foot facility will serve as an incubator space for small life science companies in Fall River's SouthCoast BioPark. Companies can test their biomanufacturing processes in the facility while paying a monthly rent that is lower than traditional lab space. The facility will include a variety of laboratories such as research, development, training and quality control. The project will also include a warehouse area, lecture rooms and office space. Construction is expected to begin this April. The project is slated for completion in 2013.
OLIVE BRANCH, MISS. — Monmouth Real Estate Investment Corp. has acquired a 234,660-square-foot industrial building, located at 8644 Polk Ln. in Olive Branch, for $16.2 million. The property, which was a build-to-suit developed by IDI, has net-leased for 10 years to Anda Pharmaceuticals, a distribution division of Watson Pharmaceuticals.
NORCROSS, GA. — The 33,000-square-footo Northwoods Data Center, located at 2775 Northwoods Pkwy. in Norcross, has sold for $5.3 million. The property is fully leased through 2025 to a co-location tenant that operates in 10 separate markets and runs a total of 21 data centers. Kansas City, Mo.-based Carter Validus Mission Critical REIT was the buyer.
LOS ANGELES – NRI, the Canada-based third-party logistics firm, has ventured into Southern California. NRI USA, a strategic partnership between Canada’s NRI Distribution Inc. and Westlife Distribution, has leased 64,000 square feet at 13200 S. Broadway Ave. in Los Angeles. NRI USA was represented by Cushman & Wakefield’s Los Angeles South team of Rusty Smith, Steve Bohannon and Rooney Daschbach. Prologis, the building’s landlord, was represented in-house in this transaction.
ADDISON, ILL. — Micromatic Spring and Stamping Co. has purchased a 72,000-square-foot industrial building at 45 N. Church St. in Addison. Micromatic, which manufactures springs, wireforms and stamped products, is moving to the property from 9325 King St. in Franklin Park, Ill. Phil Reiff and Phil Reiff, Jr. of Paine/Wetzel/TCN Worldwide represented the buyer. Dan Brown and Mike Antonelli of Brown Commercial Group represented the seller, Lillypad Development. The purchase price was undisclosed.
CAMARILLO, CALIF. – A 32,110-square-foot industrial property in Camarillo has sold to Neff, Inc. for $3,204,201. The property is located in a master-planned business park. It includes a two-story office space. The seller, DeRado Trust, was represented by Timothy P. Foutz of NAI Capital’s Encino, Calif., office.
FARMERS BRANCH — Lee & Associates has arranged the sale of a 10,400-square-foot industrial property, located at 13700 Diplomat Dr. in Farmers Branch. Mark Graybill and Donnie Rohde of Lee & Associates' Dallas office represented the seller, Jambros Partners Limited, in the transaction. The buyer was Smooth-On.
CAROL STREAM, ILL. — MC², an event and trade show specialist, has selected Meridian Design Build to renovate a 50,000-square-foot building, located at 160 E. Fullerton in Carol Stream. Colony Realty Partners owns the single-tenant industrial building. The building will house MC²'s manufacturing operations, which will be relocated from its existing facility at 2120 S. Jefferson in Chicago. Ware Malcomb is providing architectural services for the project. Marat Safir of Taurus Realty Partners represented MC² in the deal. Tom Condon and Brian Kling of Colliers International's Rosemont, Ill. office represented the ownership.