HOUSTON — John Janik, dba Electronic Power Design, has purchased 15200 Interstate 45 North, a 254,000-square-foot office/warehouse building situated on 19.3 acres in north Houston. Bill Rudolf and Gray Gilbert of CB Richard Ellis represented the seller, W.P. Carey & Co., LLC. Don Haley of Haley Martin Associates and Jack Butera of Butera Properties represented Electronic Power Design.
Industrial
HOUSTON — B-Doune Investments has purchased a 10,800-square-foot industrial building at 1631 and 1633 Oak Tree Dr. in Houston. Darren O'Conor and Jim Autenreith of NAI Houston represented the seller, Roderick Wiggins. Cecille Sangalang of Sangalang Realty Group represented B-Doune Investments.
LOS ANGELES — Johnson Capital has arranged $47.3 million in permanent financing for eight industrial warehouse/distribution buildings in the Los Angeles area. The facilities, which are owned by a privately held entity, contain a total of 927,000 square feet. Terms for the 25-year loan include a sub-5% net fixed interest rate with a 25-year amortization schedule. This excludes prepayment costs tied to an early refinancing with the same lender. Johnson Capital also negotiated a flat one percent prepayment option after the 15th year of the loan term. Financing was arranged by Kevin Burkhalter, a senior vice president out of Johnson Capital's Los Angeles office and manager of the Burkhalter Group.
GEORGETOWN, KY. — Lexington, Ky.-based NAI Isaac has brokered the sale of a 97,500-square-foot industrial facility, located at 947 East Main St. Extended in Georgetown, to HGI-Kentucky for $2.3 million. The property was formerly a Johnson Controls facility. Bruce Isaac and Chad Voelkert of NAI Isaac and Michael Shigley of USI Real Estate represented the seller in the transaction, and Doug Butcher of CB Richard Ellis' Louisville office represented the buyer.
HOUSTON — Direct Airflow Distributors, Inc., dba Coastal HVAC Supply, has signed a 53,350-square-foot lease in Greenspoint Business Center, Building B in Houston. The company will relocate to the space in August from another 30,000-square-foot facility in Houston. Atlanta-based IDI owns Greenspoint Business Center, which features three existing industrial facilities for a total of 406,000 square feet as well as pads for five additional build-to-suit or speculative buildings for a total of 1.1 million square feet. The 106,700-square-foot Building B was developed in 2008 and is currently occupied by Merla, LLC, which has 26,000 square feet. Andy Iverson and Griffin Rich with Jackson & Cooksey represented Coastal HVAC Supply in the lease, while Ben Newell represented IDI.
VICTORVILLE, CALIF. — Red Bull has signed a five-year lease for 12,500 square feet of space at the Southern California Logistics Centre (SCLC). This facility will act as a regional warehouse and distribution center for Red Bull's energy drinks. SCLC is master planned for 60 million square feet of industrial and commercial development. The center is in the midst of Phase I development, which includes 6.5 million square feet. So far, 3,000,000 square feet have been constructed. Red Bull was represented by Cushman & Wakefield's Kyle Kehner and Robin K. Dodson. SCLC's owner, Stirling Capital Investments, was represented in-house by Anita Tuckerman.
LANSING, MICH. — STAG Industrial has purchased a 231,000-square-foot manufacturing and distribution facility in Lansing for $14.1 million. Constructed in 2006, the Class A building is situated on 33 acres at 7009 W. Mount Hope Highway. Its current tenant, auto parts supplier Johnson Controls, has 10 years remaining on its lease. The seller's name was not released.
MASON CITY, IOWA — Cargill will begin construction this summer for the $12.5 million expansion of its Mason City plant. The facility is home to Cargill Kitchen Solutions, a leading marketer of further-processed egg products primarily serving the foodservice industry. Completion is expected next spring.
DALLAS — A single-story, 73,349-square-foot industrial-flex building located at 2800 W. Mockingbird Ln. in the Love Field submarket of Dallas has been acquired by Shreveport, La.-based Roundtree Automotive Group LLC, a group of new car dealerships operating in Texas, Louisiana and Alabama. Behringer Harvard Mid-Term Value Enhancement Fund I LP purchased the property in 2005. It was leased for approximately 10 years to Government Records Services, Inc., part of Affiliated Computer Systems (ACS), a provider of business process and information technology outsourcing solutions, before the company vacated the property in November 2010.
DALLAS — A 42,083-square-foot warehouse situated on 2.11 acres at 1108-1114 Quaker in Dallas has sold. Mercantile-Quaker LLC sold the industrial property to Jewmor Holdings Limited Liability. Allen Gump, Phil Rosenfeld and Matt Thompson of Colliers International represented the seller, while Clint Riley of Transwestern represented the buyer.