KATY — Josh Lass-Sughrue, John Ferruzzo and Chris Kugle of NAI Houston have facilitated the sale of Westgreen Business Center, located at 1430 Vanderwilt Ln. in Katy. The 88,500-square-foot industrial property consists of eight warehouse buildings that are 98 percent leased. Westgreen Business Center, Ltd. sold the property to Wilsonville Holiday Partners.
Industrial
RIVERSIDE, CALIF. — Grubb & Ellis has brokered the $10.5 million purchase of a 175,000-square-foot Class A distribution facility, located at 900 S. Dupont Ave. in Riverside. Aviar Investments LLC, dba Innova Champion Discs, plans to immediately begin using approximately 50 percent of the property for its corporate headquarters and distribution needs. Grubb & Ellis’ Roger Rhoades represented Aviar, the buyer, in the transaction, and Jones Lang LaSalle’s Mike McCrary and Ruben Goodsell represented the seller, Principal Life Insurance.
UNION CITY, CALIF. — Colliers International has arranged the purchase of an approximately 100,000-square-foot industrial building, located at 33200 Lewis Street in Union City. The fully leased, multi-tenant warehouse property is situated on approximately 6 acres of land in the East Bay / Interstate-880 corridor. Colliers’ Kevin Hatcher and Mark Maguire represented the buyer, KTR Capital Partners, in the off-market transaction, the value of which was not disclosed, and Townsend Commercial represented the seller.
ROCKY MOUNT, VA. — Trinity Packaging Corp. has purchased an industrial property in Rocky Mount. Located at 160 Industrial Dr., the 177,190-square-foot facility sold for $1.6 million. Richard Wellford of Poe & Cronk Real Estate Group represented the undisclosed seller in the transaction.
BUFFALO GROVE, ILL. — Forefront Properties has acquired a 121,096-square-foot industrial building, which is located at 900 Busch Parkway in Buffalo Grove, for an undisclosed price. Built in 1985 and renovated in 1999, the property offers 22,740 square feet of office space and heavy power. The seller was R.G. Ray. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CB Richard Ellis brokered the transaction.
BILLERICA AND CHICOPEE, MASS. — Richards Barry Joyce & Partners (RBJ) has brokered two distressed industrial sales in Massachusetts. In the first transaction, Billerica Business Center traded for $15 million. Located in Billerica, the property consists of six buildings totaling 448,616 square feet of office and flex space. Occupancy was 49 percent at the time of closing. In the second transaction, Big Y Distribution Center, a 217,000-square-foot warehouse located in Chicopee, traded for $4.5 million. The property is fully occupied by the Big Y Foods supermarket chain. RBJ's Frank Petz and John Wilson represented LNR Partners, which was acting as special servicer for the properties' lender, in both deals. RBJ will also be providing leasing services for Billerica Business Center.
LONG BEACH AND HAWTHORNE, CALIF. — Strategic Storage Trust has acquired two Los Angeles Country self-storage properties, totaling approximately 1,600 units, for a combined $26 million in an all-cash transaction. Built in 1999, the 87,000-square-foot property at 8150 E. Wardlow Road in Long Beach consists of four buildings with approximately 830 units. Built in 2004, the two-building facility located at 12714 S. La Cienega Blvd. in Hawthorne has approximately 770 units. Bancap Self Storage Group’s Dean Keller represented the publicly registered, non-traded REIT in its purchase of the properties, which will be re-branded under the SmartStop Self Storage trade name.
LOS ANGELES — Colliers International has completed the $1.375 million sale of a cold-storage building, located at 18425 Parthenia Place in the Northridge area of Los Angeles, to Jels Parthenia LLC, owner of Ideal Meat & Provisions. Built in 1963, the property offers 11,400 square feet of cold-storage, 1,700 square feet of office and 2,000 square feet of warehouse space. Collier’s Jeff Albee and Jeff Gould represented the seller in the transaction, and Bruce Simpson of Delphi Business Properties represented the buyer.
LINCOLNSHIRE, ILL. — Glentronics has completed the disposition of a 40,009-square-foot industrial property within the Lincolnshire Business Center in Lincolnshire. Dynomax purchased the property, which is located at 640 Heathrow Dr., for an undisclosed price. Built in 1988, the property features four interior loading docks and 3,781 square feet of office space. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CB Richard Ellis represented the seller; Patrick Shannon of Darwin Realty represented the buyer in the transaction.
CHICAGO — Summit Design + Build has completed a remodel of Pastorelli Food Products' existing 24,000-square-foot manufacturing facility, which is located at 901 W. Lake St. in Chicago's West Loop. The remodel included converting portions of the existing two-story timber building to a steel-frame and concrete-deck bottling and storage facility. Chicago-based Archideas provided architectural services for the project.