DALLAS — The Neiman Marcus Group has expanded and extended its distribution lease in Pinnacle Park from 292,000 to 470,250 square feet of industrial space at 4121 Pinnacle Point Dr. in Dallas. The space will be utilized for Neiman Marcus' Last Call division. Corbin Crews of CB Richard Ellis represented the landlord, TR Pinnacle Corp., in the 10-year lease.
SAN DIEGO — QualityFirst Commercial Corp. has negotiated the $1.1 million acquisition of a 10,000-square-foot industrial building and vacant lot located at 24 21st Street in San Diego. Constructed in 1953, the building sits on a 13,000-square-foot lot in the Logan Heights submarket. QualityFirst Commercial’s Peter Wright and Steven Martini represented the buyer, Riggo LLC, in the transaction, and Voit Real Estate Services’ Jim Marsh and John Lanza represented the seller, Safari Investments LP. Riggo LLC will occupy the entire building after a complete interior and exterior renovation, which will begin in early 2011.
BELLWOOD, ILL. — Anthony Leeds of Darwin Realty & Development Corp. represented a private investor in the purchase of two industrial properties in Bellwood. Located at 2600 and 2744 Washington Blvd., the properties total 119,000 square feet of industrial space. The acquisition price was not released. Ryan Kehoe of Grubb & Ellis represented the seller, DeNovo Property Trust, in the transaction.
HOUSTON — Duke Realty Corp.'s Houston office has begun construction on Westland II, a 300,000-square-foot bulk industrial building in Westland Business Park in Houston. RAM Chemical & Supply, a pool and spa chemicals and supplies provider, will occupy 139,600 square feet. Westland II will have a clear height of 28 feet and feature 80 dock doors. Construction is expected to be completed in April 2011. Jim Thompson of Grubb & Ellis represented RAM Chemical & Supply in its lease transaction, while Cory Driskill of Duke Realty represented Duke.
PEWAUKEE, WIS. — Caliendo Promotions Inc. has signed a lease for 32,000 square feet of warehouse/industrial space at Roundy Business Park in Pewaukee. The tenant will use the new space, located at W22N2792 Duplainville Road, to expand its promotional item distribution operations. James Young of Milwaukee-based Cassidy Turley Barry represented the tenant; the landlord, Burbach Cos., has in-house representation in the transaction.
LEBANON, TENN. — Monmouth Real Estate Investment Corp. (MREIC) has acquired a 381,240-square-foot industrial property located at the South Perimeter Industrial Park in 900 Hutchinson Place in Lebanon. The property sold for $14.5 million. Built in 1993, the property is net-leased through June 2024 to CBOCS Distribution Inc., a subsidiary of Cracker Barrel Old Country Store Inc. Brad Pepin of Stan Johnson Co. represented MREIC in the transaction. The seller was not disclosed.
CHICAGO — ProLogis has signed a fourth-quarter build-to-suit expansion agreement for 337,000 square feet with Bay Valley Foods, a provider of private label food products. Bay Valley Foods currently occupies 620,000-square-foot, LEED Silver certified facility at ProLogis Rochelle, which was developed in 2008 for the customer. The new project will be an expansion of Bay Valley's existing building. Bay Valley plans to use the new space as additional warehouse and distribution space. The 13.8-acre project is an expected $11.6 million investment.
RANCHO DOMINGUEZ, CALIF. — Cabot Properties has purchased a 215,635-square-foot warehouse and distribution building located at 18626 South Reyes Ave. in Rancho Dominguez. The seller and terms of the deal were not disclosed. The sale of the property, which is currently 100 percent occupied by Guildcraft of California, was facilitated by Cushman & Wakefield’s Jeffrey Cole, Ed Hernandez and Rooney Daschbach.
HOUSTON — Mayfield Properties has acquired a 120,810-square-foot industrial facility located at 8451 Market Street Rd. in southeast Houston for an undisclosed price. Market Portwall LP, a partnership controlled by The National Realty Group, sold the property that is situated close to the 610 Loop and Interstate 10 interchange, 3 miles north of the Port of Houston and 5 miles east of Houston's central business district. Rusty Tamlyn and Trent Agnew of Holliday Fenoglio Fowler (HFF) represented the seller, while Brian Carlton of HFF, working on behalf of the buyer, placed a 5-year, 5 percent fixed-rate acquisition loan with Aetna Life Insurance Co.
SAN LEANDRO, CALIF. — Cassidy Turley BT Commercial has brokered the $9.33 million sale of an almost 262,000-square-foot multi-tenant industrial facility located at 2048-2050 Williams Street in San Leandro. The buyer, 2050 Williams LLC dba U.S. Superior Stone and Tile, will occupy approximately 137,580 square feet of the property; the remainder of the facility, which is situated just off Doolittle Drive about a mile south of the Oakland Airport, is leased long-term to Sitcom Furniture. Cassidy Turley BT Commercial’s Jay Hagglund and Paul Beckwith represented the seller, 2050 San Leandro Partners, in the transaction, and John Loh and Jillian Loh of Loh Realty & Investments represented the buyer.