LOGAN, N.J. — Dermody Properties/DP Partners has acquired a vacant distribution facility located within Logisitcenter at Logan in the township of Logan. The 259,910-square-foot property is situated on 14.4 acres at 1109 Commerce Blvd. Constructed in 1998, the building features 10,000 square feet of office space, with the remainder consisting of air-conditioned manufacturing/warehouse space. Dermody plans to immediately reposition and lease up the property. The seller was Lexington Lion NEBC LP. Great Point Investors is Dermody's joint venture partner in the property.
Industrial
IRVINE, CALIF. — DAUM Commercial Real Estate Services has handled the $8.65 million acquisition of a 95,005-square-foot industrial building located at 17352 Von Karman Ave. in Irvine. DAUM’s Mike Barreiro and Gavin Denniston represented the buyer, ICC-CHT LLC, in the transaction, and Voit Real Estate Services represented the seller, MAM-Von Karman LLC.
CHICAGO — 40th Place LLC has acquired a 268,200-square-foot industrial facility in Chicago. The property, which is located on 12.08 acres at 328 W. 40th Place, sold for an undisclosed price. The building is currently leased to a single tenant. Matt Rogatz of Chicago Industrial Real Estate represented the seller, JII Real Estate, in the transaction.
ELDRIDGE, IOWA — Joseph T. Ryerson has leased a 171,951-square-foot industrial property in Eldridge. The rail-served facility features 38- to 42-foot ceilings, 12-inch reinforced floor, and a 50-ton and two 30-ton bridge cranes. Ryerson will use the facility as a plate processing center. Charlie Armstrong of NAI Ruhl & Ruhl Commercial Company represented the landlord, Blue Dog LC, and Kathy Bellinger of Daum Commercial Real Estate Services represented the tenant.
TAMPA, FLA. — TCG I Tampa LLC, an affiliate of Trident Capital Group, has acquired a 175,920-square-foot warehouse facility in Tampa. MA & TN Sandifer Partnership sold the property, which is located at 4506 Acline Dr., for $7.5 million. Marc Goldberg of NAI Rauch Weaver Norfleet Kurtz & Co. represented the seller in the transaction.
HUDSON, N.H. — Tinkham Realty has brokered the sale of a 24,000-square-foot industrial building in Hudson for $1 million. Located on 2.64 acres at 19 Executive Drive, the property features 17-foot clear ceilings, two loading docks and 4,720 square feet of office space. The building will soon be occupied by Airex Filter Corp., which is relocating from a nearby facility. William Zolla of Tinkham represented the buyer, Stonehill Realty. The sellers were Debra Nash and Priscilla Clegg.
SAN ANTONIO – The 64,500-square-foot Interceramic Tile & Stone Gallery has traded for $4.4 million. Located at 12054 Starcrest Dr. in San Antonio, the single-tenant, net-leased building was marketed by Alvin Mansour and Phil Sambazis, investment specialist with Marcus & Millichap’s San Diego office, on behalf of the seller, an unlisted partnership.
ELK GROVE VILLAGE, MOUNT PROSPECT AND DES PLAINES, ILL. — Grubb & Ellis' Institutional Capital Markets group has brokered the sale of three institutional-grade industrial facilities in the O'Hare submarket. In the first transaction, Erik Foster and Mike Wilson of Grubb & Ellis represented an institutional investor in the sale of Tri Center, a three-building, 140,837-square-foot industrial portfolio located at 1710 to 1912 Elmhurst Road and 2535 to 2552 Pratt Blvd. in Elk Grove Village. Town Investments acquired the property for an undisclosed price. Foster and Wilson, on behalf of an institutional fund, also brokered the sale of Prospect Industrial Center, a 240,000-square-foot multi-tenant industrial facility located at 1900 to 2000 Carboy Road in Mount Prospect. Brennan Investment Group acquired the property. In the final transaction, Foster, Wilson and John Basile of Grubb & Ellis represented Albion Illinois Funds in the disposition of 2392 S. Wolf Road in Des Plaines, an 84,730-square-foot industrial/flex facility that is fully leased to Unisource Worldwide. DCT Industrial Trust purchased the property for an unreleased price.
TROY, MICH. — DBT Troy Properties has acquired a 7,800-square-foot light industrial space at 966 Livernois in Troy. Klein Partners sold the property for an undisclosed price. The space will be used for the corporate offices of O'Brien Construction Co. Larry Schultz of Friedman Real Estate Group represented the buyer in the transaction.
HOUSTON – Steve Mellon of Grubb & Ellis’ Self Storage Group has represented Access Self Storage in its sale of two Class A self storage properties to Extra Space Storage (NYSE: EXR), a national REIT specializing in self storage properties. The acquisition enables Extra Space Storage to enter two new submarkets in the greater Houston area. The two properties are located in Houston and La Porte, and total 131,525 square feet and 1,061 units.