SHELBY TOWNSHIP, MICH. — Indiana Metal LLC has purchased a 1.8 million-square-foot industrial property, which is located at 50500 Mound Road in Shelby Township, Mich. Automotive Component Holdings sold the property for an undisclosed price. The new owner plans to demolish the antiquated portions of the facility and make the remaining space available for rent or sale. Matt Osiecki, Gene Agnone and Chuck Ginster of CB Richard Ellis Detroit represented the seller in the transaction.
Industrial
BOLINGBROOK, ILL. — Wrightwood Capital High Yield Fund II has provided an $8.6 million first mortgage loan to a joint venture owned by Corum Real Estate Group and Equibase Capital Group for the refinancing of Crossroads Lakes Business Park in Bolingbrook. Constructed in 2008, the property offers 270,000 square feet of Class A industrial warehouse space. Michael Hart of Tremont Realty Capital arranged the financing.
WATERBURY, CONN. — The Olive Oil Factory has acquired a 21,100-square-foot manufacturing facility in Waterbury for the expansion of its operations. The building, which is located at 197 Huntingdon Ave., was previously occupied by Roberts Radiator Corp., also the seller. Robert Eber of CB Richard Ellis' Stamford, Conn., office represented both parties in the deal.
CLINTON, TENN. — Knoxville, Tenn.-based Formall Plastics has purchased a 200,000-square-foot industrial property in Clinton. Situated on 30 acres at 1709 Lake City Highway, the manufacturing/distribution facility sold for $1.8 million. Bob Thornton of Baker Realty Co. brokered the transaction. The seller was MasterBrand Cabinets.
AUBURN HILLS, MICH. — American Axle & Manufacturing has acquired a 76,060-square-foot industrial property, which is located at 2007 Taylor Road in Auburn Hills. The new owner's wholly owned subsidiary, DieTronik, will utilize the space to manufacture tooling for the metal forming industry. Gene Agnone, Matt Osiecki and Chuck Ginster of CB RIchard Ellis, along with Steve Rubin of Mohr Partners, represented the seller, Cardell Corp., in the transaction. The acquisition price was not released.
SANTA CLARITA, CALIF. — NAI Capital has negotiated the $2.5 million acquisition of an 18,720-square-foot industrial building, located at 26477 Ruether Ave. in Santa Clarita. NAI Capital’s Chris Jackson and Todd Lorber represented the buyer, 3rd Building LLC, in the investment purchase; the sellers, Jawahar and Malkaiat Saini, represented themselves in the deal. The buyer plans to reposition the property, which is situated on 88,910 square feet of land.
WAYNE AND TROY, MICH. — NAI Farbman has brokered the sales of two industrial properties in Michigan for a total of 244,460 square feet. In the first transaction, NAI Farbman's Todd Szymczak represented The Finding Law Firm in the sale of 108,000 square feet, located at 3727 Venoy in Wayne, to JG Partners for an undisclosed price. In the second transaction, Jeff Cavazos and Paul DeBono, both of NAI Farbman, represented Centerline Servicing in the sale of 136,460 square feet at 164 Indusco Court in Troy, Ronald Goldstone, also of NAI Farbman, represented the buyer, Altair Clean Technology, in the transaction. The acquisition prices were not disclosed.
NEW YORK CITY — Groundbreaking has occurred for the new $44 million Sims Municipal Recycling Facility in New York City. The 100,000-square-foot facility will be located at the South Brooklyn Marine Terminal in Brooklyn's Sunset Park neighborhood. Upon completion, which is expected in December 2011, the project will consist of processing and storage buildings as well as a visitor education center. It will also contain green roofs, renewable energy production and on-site stormwater treatment. Selldorf Architects is designing the project, and Skanska USA is the general contractor. Sims already operates recycling facilities in the Bronx and Queens.
NORTH LAS VEGAS, NEV. — Strategic Storage Trust has acquired an approximately 700-unit self-storage facility located at 3155 West Ann Road in North Las Vegas. Built in 2005, the public, non-traded REIT's third self-storage acquisition in the area is a two-story building offering 94,000 rentable square feet that includes an office and apartment for a resident manager. To be rebranded under the SmartStop Self Storage trade name, the self-storage property is situated approximately four miles west of U.S. Route 95 and approximately seven miles east of Interstate 15.
PLEASANT PRAIRIE, WIS. — Nitto Americas Inc. has sold its 168,879-square-foot office/manufacturing facility within LakeView Corporate Park in Pleasant Prairie. Mondi Akrosil purchased the highly-specialized facility, which is located on 50 acres at 7201 108th St. The United Kingdom- and South Africa-headquartered buyer is a manufacturer of silicone-coated release liners for pressure sensitive products. Built in 2002, the building has 29,000 square feet of office space, high-bay areas with up to 37-foot clearance, and production and lab space. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CB Richard Ellis brokered the transaction. The acquisition price was not disclosed.