RIVERDALE, N.J. — Strategic Storage Trust (SST) has acquired a self-storage facility located in Riverdale. The property comprises a four-story building situated on 2.4 acres at 112 State Route 23. It contains approximately 820 units and was developed in 2007. The seller was Rick Kerper with Space Story Self Storage. SST plans to rebrand the property as SmartStop Self Storage. The acquisition price was not disclosed.
Industrial
AUSTELL, GA. — Hartman II, a 261,799 industrial building at Hartman Business Park in Austell, has been sold to KBS REIT II for $10.8 million. Located at 555 Hartman Road, Hartman II is 100 percent leased to Nexen Tire America. Chris Riley, Frank Fallon and Brian Budnick of CB Richard Ellis' Atlanta Investment Properties Institutional Group represented KBS Capital Advisors in the transaction. KBS purchased the 353,983-square-foot Hartman I in July 2007.
DEERFIELD BEACH, FLA. — CB Richard Ellis has arranged the sale of a 43,573-square-foot industrial building located at 588 Jim Moran Boulevard in Deerfield Beach. The property was purchased by SHL Realty for $2.75 million or $63.11 per square foot. Harry G. Tangalakis and Tom O'Loughlin of CBRE's Fort Lauderdale, Fla., office represented the seller, Motivating Graphics. Carol Martinez with Miami-based Direct Realty Solutions represented the buyer.
WEST UNION, IOWA — Atwood Mobile Products has completed the disposition of an 188,800-square-foot industrial property, which is located at 800 Highway 150 South in West Union. Art’s Way Manufacturing, a manufacturer and distributor of niche agricultural machinery, equipment and services, has acquired the 29.07-acre property for an undisclosed price. The buyer plans to use the facility for production of its agricultural lines and warehouse for finished products. Gerald Norton of Philadelphia-based Binswanger represented the seller in the transaction.
DES PLAINES, ILL. — Midland Paper Co. has signed a lease for 80,730 square feet of industrial space at Des Plaines Distribution Center, which is located at 363 N. Third Ave. in Des Plaines. Built in 1966, the 249,925-square-foot center features 18 exterior docks, 21-foot clear ceiling heights and access to O’Hare airport and the Interstate 294 Expressway. Kurt Sarbaugh, Robin Stolberg and Kris Bjorson of Jones Lang LaSalle represented Midland Paper Co.; Jonathan Kohn and Tom Rodeno of Colliers Bennett & Kahnweiler represented the landlord, ProLogis, in the transaction. Terms of the lease were not released.
WOBURN, MASS. — CB Richard Ellis / New England (CBRE) has brokered the sale of a Woburn warehouse property for $2.7 million. The 46,000-square-foot building is situated at 28 Torrice Dr. CBRE's Mark Reardon, Jason Levendusky and Jake Borden represented the seller, RNM Associates Woburn LP. Philip Burgess of Burgess Properties represented the buyer, 395 West Third Street Trust.
FORT LAUDERDALE, FLA. — Marcus & Millichap has brokered the $2.67 million sale of Cypress Business Center between two private parties. The 42,495-square-foot flex building is located at 5801 N. Andrews Ave. in Fort Lauderdale. The one-story building sits on 2.99 acres of land. Douglas Mandel of the firm's Fort Lauderdale office brokered the sale.
CHICAGO — Chicago-based Paine/Wetzel • ONCOR International has brokered two sales totaling 28,354 square feet in Chicago. In the first transaction, Kunz Glove Co. purchased a 20,600-square-foot industrial property at 1532 W. Fulton in Chicago. The company is relocating from 339 N. Oakley Blvd. in Chicago. Michael Nelson, Mark Nelson and Gerald Sullivan of Paine/Wetzel represented the seller, Active Graphics; the buyer was self-represented. In the second transaction, Global Telecom acquired a 7,754-square-foot facility, which is located at 6425 S. Central Ave. The company will use the property as a sales office and a storage facility. Ismail A. Ismail of Worth Realty represented the buyer; Edward Wabick, Michael Nelson and Mark Nelson of Paine/Wetzel represented the seller, Bricklayers and Stone Mason Union, in the transaction. Terms of the transactions were not disclosed.
AUSTIN, TEXAS — Ben E. Keith Beverages of Dallas has purchased 12 acres in Austin from an undisclosed party to build a $10 million, 85,000-square-foot facility. The property, which will be located on McKinney Falls Parkway, will include refrigerated space, office space and dry sales material storage. The company has also leased a 41,000-square-foot warehouse from Twin Oaks Associated in Austin. The property, which is located at 2325 E. Ben White Blvd., includes 15,000 square feet of refrigerated space and 4,200 square feet of office space.
HARLINGEN, TEXAS — HHS Rotec has leased an 80,000-square-foot warehouse in the Harlingen Industrial Park in Harlingen from an undisclosed landlord. The housing manufacturer could employ up to 200 workers at the site. The Harlingen Economic Development Corp. helped bring HHS Rotec to the city.