Industrial

MEMPHIS, TENN. — AREA Property Partners has purchased a four-property industrial portfolio in Memphis, totaling 834,708 square feet, from Kansas City Life Insurance Co. for $23.5 million. The properties are located at 4650 Quality Dr., 4481 Pleasant Hill, 4100 Quest Way and 3363 MIAC Cove. The portfolio includes cross-dock, rear-load and front-load warehouses that are fully leased to tenants including Cummins, McKesson and Krone. Stewart Calhoun, David Meline, Samir Idris and Casey Master of Cushman & Wakefield's Atlanta office, along with Dave Curran and Wyatt Aiken of Memphis-based Commercial Advisors, a Cushman & Wakefield Alliance Partner, represented the seller in the transaction. The buyer was self-represented.

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DALLAS — The Monit organization has hired Colliers International to manage and lease more than 1.1 million square feet of industrial, showroom and flex space in the Dallas/Fort Worth metroplex. The portfolio spans 18 buildings, including the Regal Business Center in Dallas, the Regal Industrial Center in Dallas and the DFW Air Freight in Grapevine. The Regal Business Center, located at 4639, 4747 and 4757 Irving Blvd., is a three-building, 150,566-square-foot property. The Regal Industrial Center, located at 4560, 4647, 4653 and 4656 Leston Ave., is a four-building, 380,084-square-foot warehouse property. DFW Air Freight, located at 1200, 1220 and 1240 Texan Trail, is a 113,665-square-foot air freight center. Other properties in the portfolio include properties on North Beach Street in Fort Worth, Avenue R in Grand Prairie, Dalworth Street in Arlington and Pinewood in Arlington. Phil Rosenfeld, Greg Grainger, Matt Thompson, Sparkle Turner and Mike Crain of Colliers International's Dallas office will handle the portfolio's management and leasing.

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ORANGE, CALIF. — A 44,340-square-foot industrial property in Orange has sold to a local construction company for $5.1 million. The warehouse is located at 749 N. Poplar Street. The company, which specializes in architectural concrete construction, plans to utilize this space for its operations. Seth Davenport and Mitch Zehner of Voit’s Anaheim, Calif., office represented both the buyer and the seller in this transaction.

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BRIGHTON, MICH. — CZ Cartage, a trucking company, has leased 18,200 square feet of industrial space at 12336 Emerson Dr. in Brighton. Jim Montgomery and Steve Kozak of Signature Associates represented the landlord, General Chemical. Montgomery also represented CZ Cartage. The company plans to use the facility for additional shipping, receiving and warehouse

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HOUSTON — CubeSmart has purchased a 534-unit self-storage facility, located at 1019 W. Dallas St. in Houston. The 47,585-square-foot facility was built in 2004 and designed by Meeks + Partners. Steve Mellon of Grubb & Ellis' Houston office and Pete Williams of the firm's Memphis, Tenn., office represented the seller, Midtown Self Storage, in the transaction.

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CASA GRANDE, ARIZ. — Mid-States Services has leased 114,000 square feet at the Central Arizona Distribution Center in Casa Grande. The lease is valued at $2.6 million. The wholesale/retail distributor will be relocating and expanding from a nearby facility. Mid-States’ lease brings the facility’s occupancy to 76 percent. The company was represented by Josh Wyss of Cassidy Turley BRE Commercial. Cushman & Wakefield’s Mark Detmer, Bo Mills, Will Strong and Jackie Orcutt represented Clarion Partners in this lease transaction.

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