LYNNWOOD, WASH. — GVA Kidder Mathews has negotiated the $4.62 million acquisition of a 54,000-square-foot industrial building located at 5804 204th Street SW in Lynnwood. GVAKM’s Matt Henn, Matt Hagen, Al Robertson and Thad Mallory represented the buyer, Conax Properties USA, in the transaction, and Colliers International’s Derek Heed represented the seller, Lynwood 5804 LLC.
Industrial
HARRISBURG, PA. — AMB Property Corp. has leased 202,200 square feet of industrial space to an undisclosed tenant. The space is located at AMB I-85 Distribution Center in Harrisburg. Terms of the transaction were not released.
ANAHEIM, CALIF. — Sares Regis Group has commenced development of Canyon Point, a three-building industrial project located at the intersection of Miller St. and Miraloma Ave. in Anaheim. Totaling nearly 122,000 square feet, Canyon Point is Orange County’s only LEED-certified industrial project. CB Richard Ellis’ Ian Britton and Brad Bierbaum will market the buildings, which are scheduled for completion in September.
SAN LEANDRO, CALIF. — Colliers International has negotiated Lowenberg Corp.’s sale of an approximately 62,000-square-foot warehouse/distribution space located at 2081-2099 Burroughs Ave. in San Leandro. Colliers’ Greig Lagomarsino, Mark Maguire and Kevin Hatcher represented the San Francisco-based seller in the transaction, and Eddie Shuai of Cassidy Turley BT Commercial represented the buyer, E Poly Star Inc.
LOUISBURG, N.C. — PZ Associates has purchased a 165,000-square-foot warehouse for its new North American headquarters from The HON Company for an undisclosed price. Located at 7966 US Highway 56 in Louisburg, the property spans 49 acres. Bryan Everett of Grubb & Ellis|Thomas Linderman Graham brokered the sale.
SAYREVILLE, N.J. — DCT Industrial Trust Inc. has agreed to acquire a bulk distribution facility, which is located at 400 Kennedy Drive in Sayreville. The Class A property offers 150,000 square feet of industrial space and provides immediate access to major highways, distribution routes, three major airports and the Port of New York and New Jersey. Currently, the facility is 100 percent leased to three long-term tenants. The acquisition brings DCT Industrial’s New Jersey portfolio to nine building totaling 1.1 million square feet. Terms of the acquisition agreement were not released. The transaction is expected to close in the second quarter of 2010.
SHERMAN, TEXAS — As part of a company-wide reorganization, The J.M. Smucker Co. will close its coffee plant in Sherman. Smucker's $190 million restructuring includes $90 million in non-cash changes. The plan also includes $150 million in capital investment in a new Orrville, Ohio, facility and upgrades to its Ripon, Wis., plant. A fruit spread plant in Memphis, Tenn., and a coffee plant in Kansas City will also be shuttered.
HOUSTON — DI Distribution has signed a 7,500-square-foot warehouse lease with BCO North Freeway in Houston. The property is located at 6831 Fulton St. Insite Realty Partners' Steve Hazel represented the landlord in the lease. Darren O'Connor of NAI Houston represented the tenant.
DALLAS — Hilite Industries Automotive has leased 10,915 square feet from Alexander Plastics in Dallas. The industrial property is located at 12013 Denton Drive. Nathan Denton and Hanes Chatham of Lee & Associates represented the tenant. NAI Robert Lynn's James Collins represented the landlord.
RENO, NEV. — Innotrac Corp. has renewed a more than 208,000-square-foot industrial lease at 4910 Longley Lane in Reno. Sue Smith of Argent Commercial Real Estate Services and Scotland Wright of Scotland Wright Associates represented the Duluth, Georgia-based tenant in the transaction, and NAI Alliance’s Paul Perkins, Dave Simonsen and J. Michael Hoeck represented the landlord.