ELGIN, ILL. — Wheel Pros has signed a 32,122-square-foot lease at a 250,000-square-foot building, located at 2554 Northwest Pkwy. in Elgin. Elise Couston of Chicago-based Paine/Wetzel — ONCOR International and Casey Mungo of Daum Commercial's Gardena, Calif., office represented the tenant in the transaction. David Liebman of Cassidy Turley's Rosemont, Ill., office represented the landlord.
BERLIN, N.H. — Cate Street Capital Inc. and Starwood Energy Group Global have closed financing for a $275 million biomass power plant in Berlin. Equity financing for the plant was provided by Cate Street and Starwood, and Starwood also provided a portion of debt financing. Construction debt, which will be converted to term debt, is being provided through a $200 million private placement of senior secured notes. New York-based EA Markets, a financial advisor to Cate Street, is the co-placement agent of the senior secured notes. EA Markets was responsible for structuring and financing the project. The project also benefits from federal New Markets Tax Credits, a U.S. Treasury program to encourage investments for projects in locally distressed areas. Babcock & Wilson Construction Co. will construct the project, while a subsidiary of Delta Power Services, a B&W company, will provide operations and maintenance services. The project is slated to start generating power in late 2013.
FORT WORTH — Weeks Robinson Properties has acquired two distribution centers totaling 702,000 square feet in Fort Worth. The properties are currently 56 percent leased. The seller is USAA, and George Curry, Dave Richards and Chris Skibinski of Jones Lang LaSalle brokered the transaction.
HOUSTON — Bertling Logistics, Inc. has completed construction of a 52,000-square-foot office/warehouse building on 6.576 acres. The property is located at 19054 Kenswick Drive in the Houston International Trade Center, and will serve as Bertling’s North America corporate headquarters. The land site was purchased in 2010 from Houston International Trade Center, L.P. The facility consists of 12,000 square feet of office space and 40,000 square feet of warehouse space. Kingham Dalton Wilson, Ltd. was the general contractor. Lane Guinn of JLM Commercial Advisors Inc. represented the buyer.
ONTARIO, CALIF. — Western States Technologies has signed a lease for 50,000 square feet at Sky Tech Worldwide’s 90,000-square-foot industrial building near Ontario International Airport. The lease is valued at $1 million. The facility is located at 1975 E. Locust Street. The cable manufacturer will utilize 7,000 square feet of its space for offices, while the remainder will serve as warehouse and distribution space. Walt Arrington and Jeff Linden of CBRE’s Ontario office represented Western States. Mitch Fisher from Jones Lang LaSalle’s Santa Clarita, Calif., office represented Sky Tech Worldwide.
POOLER, GA. — A joint venture between H.J. High Construction Co. and Batson-Cook Co. has been selected to build the $16 million, 74,000-square-foot Bay 4, which will be Phase III of the Mitsubishi Power Systems Americas Savannah Machinery Works development, located off of Interstates 16 and 95 in Pooler. The facility will be used for gas turbine and steam turbine assembly activities. The project is slated for completion in March 2012.
SUNRISE, FLA. — RSM Sunrise Properties has purchased a 19,600-square-foot industrial building, located at 4615 N.W. 103rd Ave. in Sunrise, from Anthony Carlone and Frank Carlone for $1.51 million. Stephen Heim and Franklin Morrison of Fort Lauderdale, Fla.-based NAI Rauch Weaver Norfleet Kurtz & Co. represented the sellers in the transaction. Robert Listokin and Peyton Moore of Colliers International's Fort Lauderdale office represented the buyer.
AUBURN HILLS, MICH. — Fifth Third Bank has sold 176,130 square feet of industrial space, located at 3500-3900 Joslyn Rd. in Auburn Hills, to TD Joslyn Road for an undisclosed price. Paul Hoge of Southfield, Mich.-based Signature Associates represented the buyer in the transaction, and Southfield-based The Farbman Group represented the seller.
COMMERCE, GA. — A joint venture between Hillwood Investment Properties and Brookfield Real Estate Opportunity Fund II has purchased a 962,280-square-foot distribution facility, located at 1523 Steve Reynolds Industrial Blvd. in Commerce, from a joint venture between Aegon and Tucker, Ga.-based Rooker & Associates for an undisclosed price. Hillwood and Brookfield plan to invest $1.2 million in building improvements to offer the facility for leasing. Todd Barton and Greg Haynes of CB Richard Ellis' Atlanta office represented the buyer in the transaction. John Rooker and Murray Reavis of Rooker & Associates represented the seller.
GRAFTON, WIS. — Gunnar Wallin Properties has purchased a 70,217-square-foot industrial property, located at 1230 Cheyenne Ave. in Grafton from SKF USA for an undisclosed price. Sam Dickman, Jr., Sam Dickman and Anthony Huenerbein of Milwaukee-based The Dickman Co. — CORFAC International represented the buyer in the transaction and Adam Williquette of NAI MLG Commercial represented the seller.