MACUNGIE, PA. — Malvern, Pa.-based Liberty Property Trust has purchased a 535,000-square-foot distribution property for approximately $32 million, including $8 million in costs and anticipated costs. The property has been mostly vacant for the past 5 years, but Liberty has executed a long-term lease for 63 percent of the building. The property is located at 7533 Industrial Park in Macungie.
CARSON, CALIF. – Colliers International has negotiated a 10-year lease renewal on behalf of Barton Brands of California for a 91,603-square-foot facility in Carson. The renewal is valued at more than $7 million. Barton was represented by Chuck Littell and Reid Wilbraham, associate vice presidents in Colliers' South Bay office. The landlord, AEW Capital Management, was represented by CBRE's senior vice president Bret Quinlan and executive vice president John Schumacher.
SANDSTON, VA. — Richmond, Va.-based Porter Realty Co. has negotiated the $2.7 million sale of a 145,706-square-foot industrial property located at 5700 Lewis Rd. in Sandston. Bob Porter and Cliff Porter of Porter Realty Co. represented the seller, Lewis Rd. LLC, and Dick Porter of the same company represented the buyer, NYW Enterprises.
PENDERGRASS, GA. — Titan Tire Corporation has recently renewed its lease at the 711-acre Valentine Farms, an industrial park in Pendergrass. They will continue to occupy a 120,000-square-foot facility developed by Rooker Construction. Floyd Baldwin and Drew Addison of Gainesville, Ga.-based Industrial Properties Group represented the landlord and Kurt Unger of Lee & Associates’ Atlanta office represented the tenant.
HARTFORD, CONN. — SRS Acquisition Corp. has leased 31,482-square-feet of industrial space at 90 Murphy Rd. in Hartford. Cushman & Wakefield represented SRS in the transaction, and David Richard of Colliers International represented the landlord, South Meadows No. 6.
DALLAS — Dallas-based Stream Realty has been awarded the exclusive management and leasing provider for DFW Distribution, a 498,800-square-foot distribution center, by Clarion Partners. The distribution center is in the Dallas Fort Worth International Airport submarket located at 171 West Airfield Drive. Cannon Green and Blake Kendrick of Stream Realty will lead the leasing efforts.
POOLER, GA. — Tokyo, Japan-based Mitsui-Soko, a warehouse and logistics company, has leased 38,400 square feet of distribution space at DP Partners' LogistiPort on Clyde Alexander Way in Pooler. In 2009, Mitsui-Soko opened a 60,000-square-foot distribution center adjacent to LogistiPort as the company's primary East Coast distribution center. Darren Ross of Grubb & Ellis' Atlanta office represented Mitsui-Soko in the lease transaction, while David Sink of Colliers International Neely Dales in Philadelphia represented the landlord, Dermody Properties.
MIAMI — Flagler Real Estate Services has closed a 111,000-square-foot industrial lease at the Airport Business Center in Miami for Miami-based Forward Air. George Pino represented the landlord, ProLogis, and Michael Bauer of Fischer & Co. represented the tenant.
LOVES PARK, ILL. — Meridian Design Build has started construction on a 100,000-square-foot build-to-suit warehouse/distribution facility at Loves Park Corporate Center in Loves Park for developer Venture One Real Estate. The building will be leased to Danfoss Drives. Meridian is coordinating the project on a design/bulid basis with Heitman Architects, and Jacob & Hefner Associates is providing architectural and civil engineering services.
HAVERHILL, MASS. — Swix Sport USA Inc., a distributor of ski equipment and supplies, has leased a 64,000-square-foot industrial building at 60 Newark St. in Haverhill. David, James and Micah Stubblebine, all of The Stubblebine Company/CORFAC, represented Swix and the landlord, Leewood Realty Trust, in the transaction.