TORRANCE, CALIF. — Western Psychological Services has purchased a 65,635-square-foot industrial facility, located at 625 Alaska Ave. in Torrance, for nearly $8 million. Aiming for an April 2011 occupancy following extensive tenant improvements, WPS will consolidate its headquarters into the single, free-standing building, which includes more than 30,000 square feet of office space. Klabin/CORFAC’s Aleks Trifunovic, Tibor Lody and Ron Rader represented the buyer, a publisher of psychological and educational assessments, in the transaction, and CB Richard Ellis’ David Stromath and Dean Haney represented the seller, Gateway Pacific Properties.
Industrial
NASHVILLE, TENN. — Nashville Dell Parkway General Partnership has purchased two Nashville warehouses totaling 504,000 square feet from Dell Corp. The properties, which are in a free trade zone, are located on Dell Parkway and Airways Boulevard. Eric Ogden of HSA Commercial assisted the buyer. CB Richard Ellis represented Dell Corp.
LAKE ORION, MICH. — Palace Chrysler Jeep has acquired 57,000 square feet of light industrial space at 4800 S. Lapeer Road in Lake Orion. The buyer plans to use the property to expand its current parts department and construct one of the largest body shop/repair facilities in Michigan. Palace Chrysler plans to install solar roof technology, skylights and wind turbines. P&G Properties sold the property for an undisclosed price. Larry Schultz of Friedman Real Estate Group represented the buyer in the transaction. The acquisition price was not released.
NEW YORK CITY — Kalmon Dolgin Affiliates (KDA) has arranged the sale of a Brooklyn warehouse for $5 million. The three-story, 63,000-square-foot building is located at 268 Norman Ave. It was vacant at the time of closing. The new owners plan to convert it into office space. KDA's Jeffrey Unger represented the buyer, Norman 268 Realty LLC, as well as the seller, 268 Norman LLC.
FREMONT AND RICHMOND, CALIF. — Sares-Regis Group has sold an approximately 721,204-square-foot industrial portfolio, consisting of four Class A buildings in Fremont and Richmond, to Industrial Income Trust. Terms of the deal were not disclosed. Colliers International’s Greig Lagomarsino and Todd Severson and CB Richard Ellis’ Darla Longo and Barbara Emmons closed the sale, reportedly the largest transaction of its kind this year in the San Francisco Bay Area. Constructed between 1999 and 2001 and 89 percent leased at the time of sale, three of the buildings totaling approximately 474,754 square feet are located in the Pinole Point Business Park in Richmond. Built in 1990 and 100 percent leased to Supermicro Computer, the fourth building, which totals 246,450 square feet, is situated along Fremont Boulevard in the Bayside Business Park in Fremont.
RENO, NEV. — Sierra Western Properties LLC has purchased an approximately 66,240-square-foot industrial property located at 305 Western Road in Reno. NAI Alliance’s Paul Perkins, Dave Simonsen, J. Michael Hoeck and Dan Oster represented Standard Motor Products, the seller of the stand-alone building.
PLANO — Telect has signed a 100,000-square-foot lease with KTR DAL I for warehouse space in Plano. The property is located at 1801 10th St. CB Richard Ellis' Scott Hobbs and Jeff Ellerman represented the tenant.
CHESAPEAKE, VA. — First Potomac Realty Trust has leased 141,500 square feet of industrial space to Total Transportation Services in the 712,894-square-foot Diamond Hill Distribution Center. The property is located on Diamond Hill Road in Chesapeake. Total transportation is relocating from a 44,900-square-foot space.
ROMEOVILLE, ILL. — Midwest Air Technologies, an affiliate of MAT Holdings Inc., has acquired 821 Bluff Road in Romeoville. Land and Lakes Development sold the 506,777-square-foot industrial building for an undisclosed price. Completed in 2009, the facility is situated on 28.54 acres and offers 80 exterior docks and 32-foot ceiling heights. Midwest Air Technologies plans to take occupancy of the building this fall. Keith Puritz and Brett Kroner of CB Richard Ellis represented the buyer; Lynn Reich and Jeffrey Kapcheck of Colliers International represented the seller, Land and Lakes Development, in the transaction. US Asia Group served as a consultant for Midwest Air Technologies.
EMPORIA, KAN. — Griffin Capital Corp., on behalf of The GC Net Lease REIT, which is sponsored by Griffin Capital, has acquired a 320,800-square-foot manufacturing property in Emporia. Situated on a 16.6-acre site, the property site can accommodate an additional 107,000-square-foot expansion. The property is currently home to Hopkins Manufacturing Corp.’s national headquarters office, domestic production plant and principal distribution facility. Hopkins is a manufacturer and distributor of specialized towing products and functional accessories for the automotive and recreational vehicle aftermarkets, including automotive winter care products, fluid handling, storage and amp organization and auto cleaning accessories. Terms of the acquisition were not released.