CHINO, CALIF. — The Carson Companies has retained Grubb & Ellis’ Mark Kegans and Ron Washle, senior vice presidents in the firm’s Industrial Group, to market and lease its new 398,000-square-foot speculative industrial development inside the Chino South Business Park. Kegans and Washle will carry out this task alongside their firm’s Global Logistics practice group. The facility is currently seeking LEED certification. It is scheduled for completion in the first quarter of 2012.
PEN ARGYL, PENN. — Michael Baxter & Associates Commercial Real Estate & Property Management has arranged the lease of 51,660 square feet of warehouse and distribution space, located at 636 Pen Argyl Ave. in Pen Argyl, Penn. Dan Perich of Michael Baxter represented the tenant, Pen Argyl-based Forza Boxing LLC, a martial arts equipment company. Joseph Baxter and Michael Baxter represented the landlord, Pen Argyl-based Scotty's Fashion Cutting Inc.
HOUSTON AND MCKINNEY — The board of directors at St. Louis, Mo.-based Emerson has approved the investment of approximately $55 million for two construction projects in Houston and McKinney. Emerson will invest $30 million to build a 205,000-square-foot engineering and manufacturing headquarters in Houston for the Emerson Process Management's valve automation business. Construction is slated to begin in early 2012. Emerson will also invest approximately $25 million to build a three-story, 132,000-square-foot headquarters for the Emerson Process Management's regulator technologies business in McKinney. Construction is expected to begin in early 2012 and be delivered in late 2013.
CORPUS CHRISTI — Monmouth Real Estate Investment Corp. has acquired a 46,253-square-foot industrial building, located at Pinson Drive and Business Center Drive in Corpus Christi, for $4.9 million. The property is net-leased through 2021 to FedEx Ground Package System. Jones Development Co. constructed the building earlier this year.
BLYTHEWOOD, S.C. — Columbia, S.C.-based NAI Avant has arranged the $1.95 million sale of a 35,800-square-foot industrial property, located at 1101 Carolina Pines Dr. in Blythewood. Nick Stomski of NAI Avant represented ALD Thermal Treatment, the seller, in the transaction. The buyer was Spirax Sarco.
MILWAUKEE, WIS. — Milwaukee-based Athea purchased a 245,000-square-foot industrial facility, located at 1900 W. Cornell St. in Milwaukee, for an undisclosed amount. Milwaukee-based Cassidy Turley Barry represented both sides of the transaction. David Barry and Kurt Van Dyke represented the seller, Norcross, Ga.-based Rock Tenn, and James Young represented Athea.
COLUMBUS, OHIO — Boston-based Stag Industrial Inc. has acquired a 380,000-square-foot warehouse and distribution facility located near Columbus, Ohio for $7.8 million. The facility is fully leased to Ridgeland, Mo.-based Arrow-Intechra LLC with more than six years remaining on the lease.
WESTFIELD, MASS. — Gulfstream Aerospace, a jet aircraft manufacturer, is expanding its service center at Barnes Regional Airport in Westfield, Mass. by investing approximately $20 million to build a 100,000-square-foot maintenance facility. The facility will be adjacent to the existing 85,000-square-foot facility.
WOODVILLE — Gemma Power Systems has signed an engineer-procure-construct contract with East Texas Electric Cooperative for a $165 million agreement to develop a biomass-fired power plant near Woodville. The project is slated for a December 2014 completion.
KNOXVILLE, TENN. — Bob Thorton of Knoxville-based Baker Realty Co. has negotiated four lease transactions in Knoxville, totaling 155,000 square feet. The transactions include: Guardian Building Products leasing the 37,210-square-foot Cedar Bluff Building, a distribution center, from NatKnox; Batesville Casket leasing 9,797 square feet of office and warehouse space from Sam Farrow; J.B. Hunt Transport leasing 18,000 square feet of warehouse space from J&J Properties; and ABC Supply signing a 100,000-square-foot lease for warehouse space from Mullins, D.C. Thorton represented both parties in all four transactions.