O'FALLON, MO. — Pinkerton Properties has purchased a 61,120-square-foot industrial building. The property is located at 801 and 823 Texas Court in O'Fallon. Louisville Realty Corp. sold the property for an undisclosed price. William Barnes of Coldwell Banker Commercial represented the buyer; Gateway Commercial represented the seller in the transaction.
ST. LOUIS — Executive Express, a parcel delivery company, has leased 95,000 square feet of industrial space at 5485 Brown Ave. in St. Louis. The 148,000-square-foot facility features 35 dock doors and 25 trailer spots. Gary Parker, Dan Merlo and Dan Dokovic of Principal Commercial Real Estate Co. represented the landlord, Panattoni Development Co., in the transaction. Terms of the lease were not released.
ALCOA, TENN. — Second Harvest Food Bank of East Tennessee has acquired a 77,540-square-foot office, showroom and distribution center property in Alcoa. Walker Supply Company sold the property, which is located at 136 Torijack Landing Dr., for $4 million. Maribel Koella and Brian Tapp of NAI Knoxville represented the buyer; Mike Price and Jerry Holloway of Oliver Smith Realty represented the seller in the transaction.
HARRISBURG, PA. — Marcus & Millichap has completed the sale of a 36,303-square-foot flex property in Harrisburg for $2.21 million. The Class B property comprises two office/warehouse buildings occupied by JST Manufacturing Co. and R.E. Michael Co. The deal equates to a 10.86 percent capitalization rate. The Marcus & Millichap team of Derrick Dougherty, Jeffrey Algatt and Benjamin Appel represented the seller, Natale Realty Co., and procured the buyer, a limited liability company formed by two investors based out of northern New Jersey and New York City.
RUTHERFORD, N.J. — NAI James E. Hanson has brokered the sale of a 22,100-square-foot flex property in Rutherford. Situated on 1.36 acres at 255 Highland Cross, the property contains three loading docks and 48 car parking spaces. Tenants at the fully leased property include Siegfried's Basment and Columbia Filters. NAI's Scott Perkins represented the seller, PGK Holding Corp., and Brian Scheuer of Chaus Realty represented the buyer, Sitex Group.
REDONDO BEACH, CALIF. — KTR Capital Partners has acquired a vacant 111,000-square-foot corporate headquarters/industrial building, located at 3690 Redondo Beach Blvd., from Baron Real Estate. Terms of the deal were not disclosed. Harvey Beesen, Luke Staubitz and Andrew Dilfer of The Klabin Co./CORFAC brokered the transaction. The buyer plans to substantially upgrade the concrete tilt-up building, which features two-story office space, abundant truck-high loading, two drive-in doors and more than 150 parking spaces.
AURORA, COLO. — Grubb & Ellis has arranged the $4 million acquisition of an 86,214-square-foot industrial building, located at 15000 E. 39th Ave. in Aurora. The brokerage firm’s Mike Wafer represented the buyer, Hoff Cos., in the transaction, and CB Richard Ellis’ Murray Platt and Jim Bolt represented the seller, Subaru of America.
MEADOWLANDS, N.J. — DCT Industrial has purchased an industrial property located in the Meadowlands submarket of New Jersey for $17.5 million. The deal was a sale-leaseback transaction between DCT and the property's sole tenant. The building contains 330,000 square feet of light manufacturing and distribution space. it was purchased for 30 to 35 percent of replacement cost and is expected to generate a year-one cash yield of 9.7 percent. Following the tenant's lease expiration, DCT will reposition the property as a multi-tenant, bulk distribution building.
CORPUS CHRISTI — Jones Development Co. is building a 46,253-square-foot distribution center on behalf of FedEx Corp., located at 246 Glasson Dr. in Corpus Christi. The Dallas office of Cadence McShane is completing the general contracting work on the industrial property. Scheduled to be completed in May, the new distribution center will offer 4,200 square feet of office space in addition to 11 external doors and two drive-in doors. Cadence McShane has received numerous assignments on behalf of Jones Development Co. to construct FedEx facilities throughout the country.
WEST CALDWELL, N.J. — Kanebridge Corp. has acquired a flex industrial property in West Caldwell for $3.85 million. The company will occupy half of the 50,000-square-foot building as its new headquarters. The other half is occupied by an existing tenant that recently renewed its lease. Cushman & Wakefield represented Kanebridge in the acquisition and is also marketing the firm's former headquarters in Oakland, N.J., for sale or lease. The Cassidy Turley team of Howard Weinberg and Matthew Turse represented the seller, JKL Properties.