Industrial

EXETER ACQUIRES $240 MILLION INDUSTRIAL PORTFOLIO

by admin July 11, 2011

ILLINOIS, INDIANA AND OHIO — Exeter Property Group has acquired a portfolio of 19 industrial buildings from a partnership between Pinchal & Co. and American National Insurance Co. for $240 million. The portfolio comprises 6 million square feet of space that was 98 percent leased at the time of closing. The portfolio is leased to 27 tenants, a majority of which are publicly traded or credit-rated. The average remaining lease term is 5.8 years. The Jones Lang LaSalle team of John Huguenard, Peter Harwood, Garry Weiss and Sean Devaney represented the seller. Eight of the 19 buildings are located in the Midwest. One property is located in the St. Louis suburb of Granite City, Ill.; five properties are located in Indianapolis; and one property each is located in Whitestown, Ind., and Groveport, Ohio.

July 11, 2011

KAPLAN BROKERS 30,000 SF FLEX DEAL IN MO.

by admin July 11, 2011

MARYLAND HEIGHTS, MO. — Kaplan Real Estate Co. has brokered the sale of an approximately 33,000-square-foot warehouse/office flex property located at 2282 Grissom Drive in the St. Louis suburb of Maryland Heights. Kaplan represented the seller, a lending institution that had foreclosed on the property. The buyer's name was not released.

July 11, 2011

Industrial Northeast

MASS. INDUSTRIAL BUILDING SELLS FOR $1.62M

by admin July 11, 2011

NEWBURYPORT, MASS. — Product Resources has purchased a 33,000-square-foot industrial building, located at 4 Mulliken Way in Newburyport, for $1.62 million from GEM Group Realty. Greg Klemmer and Tim Brodigan of Winchester, Mass.-based Klemmer Associates represented the buyer and Austin Spinella of North Andover, Mass.-based Minco represented the seller.

July 11, 2011

Industrial Southeast

OCEANEERING SIGNS 67,791-SQUARE-FOOT LEASE

by admin July 8, 2011

HANOVER, MD. — Oceaneering International has signed a 67,791-square-foot lease to expand its current warehouse space at Preston Gateway Corporate Park, located at 6090 Dorsey Rd. in Hanover, to a total of 114,478 square feet. Michael Elardo and Brian Kruger of Cushman & Wakefield's Industrial Services Group's Baltimore office represented Prudential Real Estate Investors, the landlord, in the transaction.

July 8, 2011

Industrial Western

WESTERN REALCO BUYS IRVINE INDUSTRIAL PROP FOR $19M

by admin July 8, 2011

IRVINE, CALIF. – Western Realco LLC has purchased a 13-acre industrial property in Irvine for more than $19 million. The single-story, 183,000-square-foot property is located inside the Irvine Business Complex. It was last renovated in 2000, and is currently 97 percent leased. Grubb & Ellis' Gary Allen, senior vice president of the industrial group, and Robert Griffith, senior vice president of investment services, worked with Voit Real Estate Services to represent Western Realco in the transaction.

July 8, 2011

Industrial Southeast

TRANSWESTERN COMPLETES 88,680 SF INDUSTRIAL LEASE AT DORAL LOGISTICS CENTER

by admin July 7, 2011

DORAL, FLA. — Wholesale Group has signed an 88,680-square-foot lease at the 174,024-square-foot Doral Logistics Center, located at 2900 NW 112th Ave. in Doral. Walter Byrd, Ben Eisenberg and Thomas Kresse represented Seagis Property Group, the landlord, in the transaction.

July 7, 2011

Industrial Northeast

COSMO'S FOOD LEASES 52,800 SQUARE FEET IN CONN.

by admin July 7, 2011

WEST HAVEN, CONN. — Cosmo's Food Products has signed a lease for 52,800 square feet of warehouse space at 281 Dogburn Rd. in West Haven. Mark Glassman of Milford, Conn.-based Arnold Peck's Commercial World represented the tenant and the landlord, The Shalvah Partnership.

July 7, 2011

Industrial Southeast

CONTINENTAL TERMINALS LEASES 101,705 SQUARE FEET IN S.C.

by admin July 6, 2011

HANAHAN, S.C. — Continental Terminals has signed a lease for 101,705 square feet at 201 Luken Road in Hanahan. Hagood Morrison and Amanda Kitchen of Colliers International's Charleston, S.C., office represented the tenant. Bob Barrineau and Brendan Redeyoff of Charleston-based CB Richard Ellis Carmody represented the landlord.

July 6, 2011

Industrial Northeast

C&W BROKERS $32.6M SALE OF N.J. INDUSTRIAL BUILDING

by admin July 6, 2011

KEARNY, N.J. — Cushman & Wakefield has negotiated the $32.6 million sale of a 211,000-square-foot industrial building, located at 670 Belleville Turnpike in Kearny. Cushman & Wakefield's East Rutherford, N.J.-based Metropolitan Area Capital Markets Group represented the seller, an affiliate of Carlstadt, N.J.-based Russo Development, and San Francisco-based Terreno Realty Corp., the buyer, was self-represented by Andrew Burke. The property is currently 100 percent leased to H.D. Smith.

July 6, 2011

Industrial Texas

GRAND PRAIRIE TECH CENTER TRADES

by admin July 6, 2011

GRAND PRAIRIE — Grand Prairie Tech Center, which was recently vacated by Michael Stores Inc., has been purchased by a Fort Worth-based private investor. Bank of America sold the 35,200-square-foot industrial property, located at 2302 113th St. in the Upper Great Southwest Industrial district in Grand Prairie. Michael Spain and Jim Ferris of Bradford Commercial Real Estate Services represented the bank. Walter Floyd of Transwestern purchased the property and will market it for single or multi-tenant use.

July 6, 2011

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