HAYWARD, CALIF. — Colliers International, Oakland, has brokered the acquisition of an approximately 58,000-square-foot warehouse facility located at 3532 Arden Road in Hayward. Terms of the deal were not disclosed. A supplier of top-quality meats to restaurants, grocery stores and retailers, Grand Food, the buyer, will be relocating and quadrupling its footprint. Colliers’ Kevin Hatcher, Mark Maguire and Greig Lagomarsino represented the meat wholesaler in the acquisition, and Lee & Associates’ Craig Hagglund and Jesse Lucas represented the seller.
Industrial
OCOEE, FLA. — 320 Enterprise Street LLC has acquired a 46,448-square-foot industrial property in Ocoee. The property is situated on 4 acres at 320 Enterprise St. The buyer plans to use the property for its Central Florida recycling operations. Ray Romano of CB Richard Ellis represented the seller, Cox Lumber Co., in the transaction. Gosselin Realty represented the buyer.
ORANGE CITY, IOWA — Gladstone Commercial Corp. has acquired a 487,121-square-foot office/industrial property in Orange City. The property, which is leased to Staples Contract & Commercial, sold for $12.3 million. The seller was not released.
KATY — Josh Lass-Sughrue, John Ferruzzo and Chris Kugle of NAI Houston have facilitated the sale of Westgreen Business Center, located at 1430 Vanderwilt Ln. in Katy. The 88,500-square-foot industrial property consists of eight warehouse buildings that are 98 percent leased. Westgreen Business Center, Ltd. sold the property to Wilsonville Holiday Partners.
RIVERSIDE, CALIF. — Grubb & Ellis has brokered the $10.5 million purchase of a 175,000-square-foot Class A distribution facility, located at 900 S. Dupont Ave. in Riverside. Aviar Investments LLC, dba Innova Champion Discs, plans to immediately begin using approximately 50 percent of the property for its corporate headquarters and distribution needs. Grubb & Ellis’ Roger Rhoades represented Aviar, the buyer, in the transaction, and Jones Lang LaSalle’s Mike McCrary and Ruben Goodsell represented the seller, Principal Life Insurance.
UNION CITY, CALIF. — Colliers International has arranged the purchase of an approximately 100,000-square-foot industrial building, located at 33200 Lewis Street in Union City. The fully leased, multi-tenant warehouse property is situated on approximately 6 acres of land in the East Bay / Interstate-880 corridor. Colliers’ Kevin Hatcher and Mark Maguire represented the buyer, KTR Capital Partners, in the off-market transaction, the value of which was not disclosed, and Townsend Commercial represented the seller.
ROCKY MOUNT, VA. — Trinity Packaging Corp. has purchased an industrial property in Rocky Mount. Located at 160 Industrial Dr., the 177,190-square-foot facility sold for $1.6 million. Richard Wellford of Poe & Cronk Real Estate Group represented the undisclosed seller in the transaction.
BUFFALO GROVE, ILL. — Forefront Properties has acquired a 121,096-square-foot industrial building, which is located at 900 Busch Parkway in Buffalo Grove, for an undisclosed price. Built in 1985 and renovated in 1999, the property offers 22,740 square feet of office space and heavy power. The seller was R.G. Ray. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CB Richard Ellis brokered the transaction.
BILLERICA AND CHICOPEE, MASS. — Richards Barry Joyce & Partners (RBJ) has brokered two distressed industrial sales in Massachusetts. In the first transaction, Billerica Business Center traded for $15 million. Located in Billerica, the property consists of six buildings totaling 448,616 square feet of office and flex space. Occupancy was 49 percent at the time of closing. In the second transaction, Big Y Distribution Center, a 217,000-square-foot warehouse located in Chicopee, traded for $4.5 million. The property is fully occupied by the Big Y Foods supermarket chain. RBJ's Frank Petz and John Wilson represented LNR Partners, which was acting as special servicer for the properties' lender, in both deals. RBJ will also be providing leasing services for Billerica Business Center.
LONG BEACH AND HAWTHORNE, CALIF. — Strategic Storage Trust has acquired two Los Angeles Country self-storage properties, totaling approximately 1,600 units, for a combined $26 million in an all-cash transaction. Built in 1999, the 87,000-square-foot property at 8150 E. Wardlow Road in Long Beach consists of four buildings with approximately 830 units. Built in 2004, the two-building facility located at 12714 S. La Cienega Blvd. in Hawthorne has approximately 770 units. Bancap Self Storage Group’s Dean Keller represented the publicly registered, non-traded REIT in its purchase of the properties, which will be re-branded under the SmartStop Self Storage trade name.