VICTORVILLE, CALIF. — One of the world's largest confectionary companies has leased a 495,000-square-foot industrial facility within Victorville's Southern California Logistics Centre (SCLC). The 10-year lease is valued at $17.5 million. The facility will serve as a warehousing and distribution center for the company. Cushman & Wakefield's John McMillan and Phil Lombardo represented the confectionary company. CBRE's Jay Dick and Mark Latimer represented SCLC's owner, Stirling Capital Investments.
MIAMI — Cushman & Wakefield has negotiated a 142,000-square-foot industrial lease at Dolphin Distribution Center, located at 3301 NW 107th St. in Miami, on behalf of AMB Property Corp. Brian Smith, Wayne Ramoski and Audley Bosch of Cushman & Wakefield's Miami office represented the landlord in the transaction. Mike Silver and Allen Lindow of CB Richard Ellis represented the tenant, Atlas Paper Mills. Atlas Paper Mills currently has a lease at AMB Blackfin Distribution Center, another AMB Property Corp. location, which expires in 2012.
LEWISVILLE – DOcean Investments LLC has purchased 2.47 acres of land at the corner of Riverview Drive and Jubilee Lane in the Riverview Industrial Development in Lewisville. West Dixon Holdings LLC sold the property that is zoned for heavy industrial and surrounded by existing industrial developments. DOcean Investments plans to development an industrial facility that will be completed in 2012. Dan Spika of Henry S. Miller Brokerage represented the buyer.
BESSEMER, ALA. — Dollar General has broken ground on its 10th distribution center, to be located on more than 100 acres at 4101 Lakeshore Pkwy. in Bessemer. The $100 million facility will serve more than 1,000 stores in the Southeast when it opens in early 2012. Leo A. Daly is the architect on the project and Clayco is the general contractor.
INDEPENDENCE, MO. — Grindstone Industrial Properties has brokered the sale of a 30,000-square-foot industrial property located at 14912 E. Truman Road in Independence. Paul Neal of Grindstone represented the seller, John Pepper. Brad Carrender of Realty Professionals represented the buyer, Robin's Autos. The purchase price was not released.
GREEN OAKS, ILL. — Chicago-based HSA Commercial Real Estate has arranged two industrial leases totaling 104,561 square feet at Green Oaks Business Center, a three-building, 461,943-square-foot industrial park located in Green Oaks. Advanced Packaging & Fulfillment leased 66,658 square feet at 13820 Business Center Drive. HSA's Douglas Reed represented the tenant as well as the landlord, IAC Green Oaks LLC, in lease negotiations. In addition, Neptun Lighting leased 27,903 square feet at 13950 Business Center Drive. Reed represented the same landlord, and Matt Jarosz of Eger & Associates represented the tenant.
WILMER — CB Richard Ellis Realty Trust has acquired the 1 million-square-foot Whirlpool regional warehouse located in the First Park DalPort Business Park in Wilmer. Gary Jaye of CBRE Investors represented CBRE Realty Trust in the transaction. “We were able to meet a major prospective tenant's needs by pairing them with one of four preferred development partners,” said Jack Cuneo, president and chief executive officer of CBRE Realty Trust, in a statement. “At the same time, we were exposed to no development risk, being obligated to purchase the property only upon completion of construction.”
SPOTSWOOD, N.J. — Iselin, N.J.-based Sperry Van Ness | Richter Grusd has closed the sale of an 80,000-square-foot industrial building, located at 192 Summerhill Rd. in Spotswood, for $3.5 million. Iris Borger, Doug Richter and Ian Grusd of the firm represented the buyer, Dart Seasonal Products, and Kyle Eaton and Tom Kirczow of Grubb & Ellis' Edison, N.J., office represented the seller, Greif, in the transaction.
AURORA, ILL. — hhgregg has signed a lease for 247,360 square feet of warehouse space at Prairie Point West, a two-building, approximately 1 million-square-foot industrial park located in Aurora. The retailer will occupy over half of the space within Building A, which is located at 2176 Diehl Road. The Indianapolis-based company will use the facility as its Chicagoland distribution center. Kirk Armour and David Prell of CB Richard Ellis represented the landlord, IDI, in lease negotiations. Lawrence Shaw of the Charlotte office of Colliers International partnered with Matthew Stauber of the firm's Chicago office to represent hhgregg.
NEW YORK CITY — Jones Lang LaSalle has completed a 3-year lease extension on behalf of Hunts Point Terminal Produce Cooperative Association for 660,000 square feet of warehouse space in the Bronx. Paul Mas and Michael Shenot, both with the JLL New York office, along with a team of members of the firm's New York and Parsippany, N.J., office, represented the market. Seth Pinksy of the New York City Economic Development Corp. represented the landlord in the transaction.