NORTH KANSAS CITY, MO. — Welch & Wilson, a third-party logistics provider, has leased a 155,000-square-foot industrial building in North Kansas City. John Belger & Associates owns the property, which is located at 1836 Levee Road. Mark Long and Tracey Mann of Zimmer Real Estate Services represented the Indianapolis-based tenant; David Zimmer, also of Zimmer Real Estate Services, represented Belger & Associates in the transaction.
Industrial
LEBANON, TENN. — New Jersey-based Monmouth Real Estate Investment Corp. has acquired a free-standing industrial building for $14.5 million. The company purchased a 381,240-square-foot bulk distribution center, which is fully leased to Cracker Barrel Old Country Stores Inc., in Lebanon. Brad Pepin of Stan Johnson Co. represented Monmouth and the seller, Miami-based United Trust Fund, in the transaction.
LANCASTER, PA. — Lancaster-based NAI Commercial Partners has brokered the sale of a 159,863-square-foot industrial property located at 1175 Manheim Pike in Lancaster. Shadow Lawn City Line LP acquired the property from Thermal Solutions Products for $9.75 million. Daniel Berger of NAI represented the seller, while Timothy Shreiner of Prudential Homesale Services Group represented the buyer.
JACKSON, MISS. — Dakota Ventures Realty has acquired the former MPI manufacturing facility in Jackson for an undisclosed price. The 225,000-square-foot facility is situated on 19 acres at 1425 Ridgeway St. Guy Parker of Parker Real Estate Properties represented the buyer; David Price of dnp Corp. represented the undisclosed seller in the transaction.
EARTH CITY, MO. — NorthMarq Capital has arranged a $5.11 million loan for 13400 Lakefront, a 232,000-square-foot industrial building in Earth City. The financing was based on a 15-year term with a 15-year amortization schedule. Northmarq's David Garfinkel arranged the loan through the company's correspondent relationship with Aetna.
ARLINGTON — Joern's Healthcare, represented by Blake Anderson of Grubb & Ellis, has leased 99,840 square feet of industrial space at 2100 Design Rd. in Arlington. Trey Fricke and Reid Bassinger of Lee & Associates represented the landlord, Ridge Property Trust.
NEW BALTIMORE, MICH. — Titanium Processing Center has acquired a 22,920-square-foot industrial property in New Baltimore. The buyer plans to expand its operations to the facility, which is located at 51513 Industrial. Titanium Processing Center specializes in domestic titanium alloy that complies with the Department of Defense, military, medical, racing and aerospace industries. Joe DePonio and Jason Capitani of L. Mason Capitani CORFAC International represented the buyer in the transaction. The seller and acquisition price were not released.
RICHMOND, VA. — Porter Realty Company has brokered the sale of 1101 East Laburnum Avenue, an industrial facility in Richmond. PSR 1101 LLC purchased the 59,800-square-foot property for $1.7 million. Richard Porter of Porter Realty represented the buyer; Kevin Cox, also of Porter Realty, represented the seller, Sovereign Holdings, in the transaction.
MT. PLEASANT, ILL. — Naples, Italy-based SEDA International Packaging Group S.p.A. has selected to open its North American manufacturing operations at Park 94 at Mt. Pleasant, an 84-acre business park developed by HSA Commercial. SEDA plans to occupy Building 1, a 323,610-square-foot LEED Silver-certified warehouse and manufacturing facility located at 12501 Globe Dr. The facility, which is expandable to 664,610 square feet, offers 30-foot clear-height ceilings, 40 docks, four drive-in doors and a 151-car and 80-trailer expandable parking area. The company is expected to make a $76 million investment in local operations and create approximately 200 jobs. James Babiasz and Patrick Dedering of The Boerke Company represented SEDA; David Bercu, David Liebman and Brendan Green of Colliers International represented the developer/owner, HSA Commercial Real Estate, in the transaction.
MELROSE PARK, ILL. — Meridian Design Build has completed a facility expansion for Kerry Ingredients & Flavours. The new 84,000-square-foot facility is located at 3141 W. North Ave. in Melrose Park. The design redevelopment project included the demolition of an outdated two-story, 100,000-square-foot facility. The facility includes five truck docks, silo pads, and a material unloading area with security initiatives, including card readers, security cameras, fencing and motor-operated sliding gates. Harris Architects provided architectural services for the project, while Jacob & Hefner Associates served as civil engineer.