EDWARDSVILLE, MO. — Scott Credit Union has purchased a 15.10-acre land parcel at the southeast corner of Illinois Route 143 and Staunton Road in Edwardsville. Florists’ Mutual Insurance Co. dba Hortica sold the property, which is located within Edwardsville Corporate Centre, for $1.39 million or $2.13 per square foot. BarberMurphy Group represented the buyer; Rudy Stinnett, Paul Nagel and Andrew Bagy of Grubb & Ellis|Gundaker Commercial represented the seller in the transaction.
WALLINGFORD, CONN. — Servpro has acquired an 11,780-square-foot industrial building located at 1254 Broad St. in Wallingford for an undisclosed amount. The company will relocate to the new facility from a property in nearby Meriden. Peter Shiue of the New Haven, Conn., office of Colliers Dow & Condon was the sole broker in the deal. The seller's name was not released.
MEMPHIS, TENN. — US Industrial REIT III, an affiliate of USAA Real Estate Company, has acquired two Class A bulk industrial facilities in southeast Memphis. The 1.37 million-square-foot portfolio includes the 829,464-square-foot 6100 East Holmes Road facility, which is occupied by Flextronics Logistics USA and MVP Group International, and the 540,000-square-foot 6000 Freeport Avenue building, which is occupied by Memphis-based Creative Co-Op Inc. Located within Chickasaw Distribution Center, the facilities feature ESFR sprinklers and retrofitted T-5 lighting. Terms of the transaction were not disclosed.
COLUMBIA, S.C. — A private investor has purchased a 48,0750-square-foot industrial building, which is located at 161 Windhill Dr. within the Ponderosa Industrial Park in Columbia. The property sold for $2.45 million. Current tenants include Safelite Auto Glass, Sherwin Williams and Parts Plus. Chuck Salley, Dave Mathews and JP Scurry of Colliers International brokered the transaction. The seller was not released.
MINNEAPOLIS — Minnesota-based KleinBank has chosen LFC Group of Companies to auction off its more than 80 REO properties located throughout the Minneapolis and St. Paul metro region. The properties, which range from residential lots in Northfield and Shakopee to large commercial buildings in Minneapolis, have a combined suggested value of more than $10 million. The online auction is believed to be the first of its kind in the Twin Cities area. Assets up for bidding include Washington Place, a large industrial/office warehouse in Minneapolis with a minimum bid of $499,000; a 2,200-square-foot retail/office facility in the Union Park area of St. Paul with a minimum bid of $39,000; 1,536-square-foot office condominiums within North Meadow Office Complex in Chaska; and a historic office building in downtown Shakopee. The online auction is currently under way with a scheduled bid deadline of September 30, 2010.
WEST BEND, WIS. — Koness Properties LLC has acquired a 105,024-square-foot industrial property in West Bend. Milliken Enterprises-Wisconsin LLC sold the property, which is located at 529 N. River Rd., for an undisclosed price. Brian Parrish of The Dickman Company Inc./CORFAC International represented the buyer; Kevin Barry and David Buckley of Cassidy Turley Barry represented the seller in the transaction.
NEW YORK CITY — The Houston office of Holliday Fenoglio Fowler (HFF) has brokered the sale of a self-storage portfolio in New York City. The two properties include a 1,343-unit property located at 395 Brook Ave. in the Bronx and a 861-unit property located at 2887 Atlantic Ave. in Brooklyn. The HFF team of Aaron Swerdlin, Doug McCarron and Barbara Guffey represented the seller, Storage Deluxe. U-Stor-It was the buyer and acquired the portfolio free and clear of debt.
ALLENTOWN AND BETHLEHEM, PA. — 1st Service Solutions has arranged the assumption of a $6.7 million CMBS loan to assist in the purchase of a self-storage portfolio in Pennsylvania. The buyer, a regional self-storage provider, will assume a $3 million and $3.7 million conduit loan for the acquisition of properties in Allentown and Bethlehem, respectively. Sperry Van Ness' Nicholas Malagisi, along with Costas Hrousis and Shawn Donahue of Veraxia Commercial Real Estate Solutions (formerly of Sperry Van Ness), brokered the acquisition.
PATTERSON, CALIF. — Affinia Group has leased 394,000 square feet of industrial space at Building A within McShane Development Co. / MetLife Real Estate Investments’ 123-acre KeyStone West Business Park in Patterson. CB Richard Ellis’ Kevin Dal Porto and Doug Norton represented McShane in the lease transaction, and the brokerage firm’s Blake Rasmussen and Ed Wujiak represented the tenant. McShane Construction Co. and project architect Ware Malcomb will provide comprehensive tenant-improvement services for Affinia Group’s new location, which will include more than 8,000 square feet of office space.
WIXOM, MICH. — Hallite Seals America has signed a lease for a 73,000-square-foot facility in Wixom. Located at 50777 Varsity Court, the property will be used as a manufacturing and distribution facility to support Hallite Seals’ North American market. Hallite Seals is a manufacturer and provider of hydraulic seals and sealing solutions to the global fluid power industry. Garry Rogers of L. Mason Capitani represented the tenant and the undisclosed landlord in the transaction. Terms of the lease were not disclosed.