TALYOR, MICH. — Eftec North America has purchased 54,400 square feet of industrial space at 20202 Northline in Taylor. T. Alterman and Associates sold the property for an undisclosed price. Brad Viergever, Steve Gordon and Mark Hamway of Signature Associates represented the seller; Brad Viergever also represented the buyer in the transaction.
Industrial
EASTLAKE, OHIO — Best Supply has acquired a 25,400-square-foot facility in Eastlake for its new headquarters. The sales price was not released. Situated on 4.85 acres at 33999 Vokes Road, the property offers 20-foot ceiling heights, one dock and one drive-in door. Eliot Kijewski of CRESCO Real Estate represented the buyer; Rick Ferris of Sequoia Realty represented the undisclosed seller in the transaction.
ESCONDIDO, CALIF. — Grubb & Ellis has negotiated the sale of the 49,324-square-foot State Place Business Park, located at 300 – 398 State Place in Escondido. Terms of the deal regarding the four Class A, multi-use buildings were not disclosed. Grubb & Ellis’ Alan Deszcz and Dave Stassel teamed with Michael Lawrence of Marcus & Millichap in representing the seller, MDC State Place LLC, in the transaction; Deszcz and Stassel also represented the buyer, State Place Partners LLC.
LITHONIA, GA. — Rich Products Corp. has acquired an 189,000-square-foot manufacturing facility at 2200 Lithonia Industrial Blvd. in Lithonia. Built in 1970 and expanded in 1980, the facility is used as a food manufacturing plant. Addison Meriwether and Travis Jackson of Cushman & Wakefield represented the buyer; Patrick Laughlin of Bullock Mannelly Partners represented the seller, CharterBank, in the transaction. The sales price was not released.
TAMPA, FLA. — Chicago-based Transwestern Investment Co. has purchased Mallory Square Apartments in Tampa. The 388-unit multifamily property sold for $38.75 million or $101,179 per unit. Constructed in 2005, the property offers one-, two- and three-bedroom units, a resort-style pool with spa and a 6,500-square-foot clubhouse with a fitness center, an indoor basketball court and a billiards room. John Selby and Jim Bobbitt of CB Richard Ellis represented the seller, CIGNA Investments, in the transaction. Financing was provided by Fannie Mae through Robert Kadoori of CB Richard Ellis' Debt & Equity Finance Group.
PORTLAND, ORE. — Grubb & Ellis has represented Subaru of America in its 10-year lease of 413,700 square feet at a build-to-suit distribution center located within Multi-Employer Property Trust and Trammell Crow Co.’s 114-acre Rivergate Corporate Center III at 14510 N. Lombard St. in Portland. MEPT will enter into a ground lease with the Port of Portland to develop Subaru’s auto-parts distribution facility on 19.3 acres, and TCC will design and build it. Grubb & Ellis’ Brad Fletcher represented Subaru in the transaction, and Capacity Commercial Group’s Dave Ellis and John Fettig represented MEPT Rivergate IV LLC. The lease for the build-to-suit distribution center, which includes training and office space, is expected to commence in October 2011.
LOVELAND, COLO. — Sponsored by Griffin Capital Corp., the GC Net Lease REIT has purchased the 169,816-square-foot Quad/Graphics printing facility, located approximately 45 miles north of Denver on 15 acres of land in Loveland, for $11.85 million. Under a long-term, triple-net arrangement, the property is 100 percent leased to and occupied by World Color (USA) LLC, the subsidiary of the world’s second-largest printing company, Quad/Graphics.
POMPANO BEACH, FLA. — Green Florida Developments has completed the disposition of Powerline Industrial Park, which is located at 2301 NW 30th Place in Pompano Beach. CABOT III – FL 2W06-W12 LLC and CABOT III – FL 2W13 LLC acquired the property for $23.4 million. The 71-percent occupied property includes eight buildings totaling 470,000 square feet and offers highly-functional small bay product, with many units featuring both drive-in and dock-high doors. Scott O'Donnell, Dominic Montazemi, Kirk Nelson and Miguel Alcivar of CB Richard Ellis represented the seller in the transaction.
ROMEO, MICH. — Express Gage has purchased an 18,746-square-foot industrial building in Romeo for an undisclosed price. The buyer plans to expand its Sterling Heights, Mich., operations to the new facility, which is located at 181 Shafer. Joe DePonio and Jason Capitani of L. Mason Capitani represented the buyer and the undisclosed seller in the transaction. The acquisition price was not released.
TEMPE, ARIZ. — Cushman & Wakefield has negotiated Coxreels’ $5.5 million purchase of an 116,900-square-foot industrial building located at 5865 South Ash Ave. in Tempe. The site will serve as the new headquarters for the nearly 90-year-old family-owned and operated manufacturer of heavy-duty industrial grade hose and cable reels. Cushman & Wakefield’s Mark Detmer and Bo Mills represented the buyer in the transaction; the seller, a W.P. Carey-controlled entity, was self-represented.