GRIFFIN, GA. — Caterpillar, Inc. will make a major investment in its Griffin Engine Center in Griffin. The Peoria, Ill.-based company will create at least 200 jobs and invest $120 million in machinery, equipment and upgrades to the existing facility. The Caterpillar Griffin Engine Center assembles engines and generator sets for more than six different engine models.
BOLINGBROOK, ILL. — G&W Electric Co. has purchased an approximately 350,000-square-foot industrial building located at 305 Crossroads Pkwy. in Bolingbrook. The company will relocate its headquarters from Blue Island, Ill., to the property. Edward Wabick and Brandon Wright of Paine/Wetzel • ONCOR International represented G&W in the deal. Jerry Sullivan, also of Paine/Wetzel, represented the seller, Prudential Real Estate Investors.
HARRISON TOWNSHIP, MICH. — L. Mason Capitani has brokered the sale of a 17,496-square-foot industrial building located at 42950 Executive Drive in Harrison Township. The buyer was Preferred Moving & Storage, which will use the building to expand its operations. The seller, was Comerica Bank, which recently foreclosed on the property. Jason Capitani and Tom Jablonski of L. Mason Capitani arranged the deal.
HUDSON, N.Y. — Kaz, Inc., has sold a 195,000-square-foot manufacturing building in Hudson to NEFG, who will lease the property to Washington, N.C.-based Flanders Corp. Jim Panczykowski of Philadelphia-based Binswanger represented the seller in the transaction.
TOLEDO, OHIO — CB Richard Ellis (CBRE) | Reichle Klein has arranged the sale of a 187,368-square-foot industrial property located at 830 N. Westwood Ave. in Toledo for $2.1 million. CBRE's Lynette Reichle represented the seller, a Cincinnati-based ownership group, as well as the buyer, Toledo, Ohio-based SJR Properties.
NORTH HAVEN, CONN. – New York-based ClearRock Properties has purchased a 374,000-square-foot warehouse, located at 297 State St. in North Haven for $3.5 million. The sellers have plans for $3.5 million in redevelopments, which will include replacing the electric and heating systems, as well as repairing the roof, loading docks and parking areas. Sean Duffey and Damon Bower of Cushman & Wakefield represented the seller, World Color Northeast Graphics Corp., and CBRE acted as the broker for ClearRock and the leasing agent.
EVANSVILLE, IND. — Rotary Corp. has purchased a 37,080-square-foot industrial building from ETFCU for $741,600. The property is located on 4.86 acres at 4916 O'Hara Drive in Evansville. Chris Stuard and Steve Martin of Sperry Van Ness/Martin Commercial Group represented the seller in the deal. CB Richard Ellis/Louisville represented the buyer.
EDISON, N.J. — Vaswani, Inc., has signed a 76,708-square-foot lease to relocate its corporate headquarters to 75 Carter Dr. in Edison. The space will be used for general office space, warehousing, manufacturing and distribution. Jason Barton of Jones Lang LaSalle's Metropark, N.J., office represented the tenant and Lou Belfer and Scott Belfer of CB Richard Ellis' East Brusnkwick, N.J., office represented the landlord, Caro Associates II.
PHOENIX — Voit Real Estate Services has sold 23 industrial condos in Phoenix's Deer Valley Commerce Center Park. The condos totaled 58,437 square feet, and were sold for a total consideration of $2.23 million. Deer Valley Commerce Center Park is a 360,000-square-foot property in the North Phoenix business corridor. The seller, NextGen Commercial, LLC, was represented by Voit's Darren Tappen, who worked with Cushman & Wakefield's Pat Harlan, Steve Sayre and Kyle Westfall. DAUM Commercial's Bob Lundstedt and Colliers International's Jim Keeley represented the buyer, Birchwood Heights Equity Corporation.
WAIPAHU, HAWAII — Westcore Properties has purchased the 250,460-square-foot Waipio Business Center, a four-building industrial campus in Waipahu, for an undisclosed sum. The property is currently 20 percent leased. This is the firm's first Hawaii-based acquisition. Westcore Properties represented itself in the transaction.