GRAND RAPIDS AND WYOMING, MICH. — Colliers International has brokered two property sales in Western Michigan. In the first transaction, Wolverine Glass Products Inc. acquired a 53,472-square-foot industrial space at 5801 Clay St. in Grand Rapids. Matthew Abraham and Duke Suwyn of Colliers represented buyer; John Kuiper, Steve Marcusse and Tom DeBeor of Colliers represented the seller, Gill Properties, in the transaction. In the second transaction, Byron Bank completed the disposition of a 49,926-square-foot commercial space at 102 54th St. in Wyoming. Colin Kraay, Marcusse and Suwyn of Colliers represented the seller; Kraay, Kuiper and Suwyn represented the undisclosed buyer in the transaction. The acquisition prices were not released in either transaction.
Industrial
HOUSTON — Furniture Brands has leased 109,386 square feet of warehouse space from Panattoni Development Co. in the Airtex Industrial Center, bringing the building's occupancy to 100 percent. The 486,720-square-foot property is located at 14810 North Freeway in Houston. Addition tenants include Houston Furniture Partners and Velocity Acquisitions. CB Richard Ellis' Patrick Rollins and Joseph Smith represented the tenant. Colliers Houston's Gary Mabray and Walker Barnett represented Panattoni.
SIMI VALLEY, CALIF. — Colliers International has completed the $11.42 million sale of a two-building, office and industrial property located at 2900-2950 Madera Rd. in Simi Valley. Buyer Kingsbridge International, an importer/wholesaler of housewares and giftwares, will operate its business from the 135,683-square-foot distribution building and will lease the 72,810-square-foot office building back to the seller, Bank of America. Colliers’ John DeGrinis, Patrick DuRoss and Jeff Abraham represented the buyer in the transaction; the seller was represented by Cushman & Wakefield.
LAS CRUCES, N.M. — Steinborn/TCN Commercial Real Estate has brokered a 182,000-square-foot industrial lease in the West Mesa Industrial Park in Las Cruces. Alaska Structures’ 5-year lease at the Class A manufacturing plant includes a purchase option. Steinborn/TCN’s John Hummer and Grady Oxford represented the owner, REA Magnet Wire Co., and tenant, respectively.
O’FALLON, MO. — LK Drive LLC has completed the disposition of a 77,000-square-foot industrial property, which is located at 3801 Lloyd King Dr. in O’Fallon. Boston-based STAG GI Investment Holdings purchased the building for an undisclosed price. Herndon Products currently occupies the building. David Gannon of NAI DESCO represented the seller in the transaction.
HOUSTON — SSA Marine has leased 251,600 square feet of warehouse space from an undisclosed landlord in Houston. The space is located at 8905 Spikewood Drive. CB Richard Ellis' Bill Rudolf, Gray Gilbert and Jim Stark represented SSA Marine. D.R. David of Warehouse Associates represented the landlord.
CARROLLTON — Cobalt Capital Partners has leased 52,468 square feet of industrial space to PAC. The property is located at 1701 Vantage Drive, Suite 100, in Carrollton. Ken Wesson and Adam Graham of Lee & Associates represented Cobalt. Jones Lang LaSalle's Forshey Hoobler represented the tenant.
KNOX COUNTY, TENN. — RLR Investments has sold the 113,000-square-foot R&L manufacturing facility to Dew Properties for an undisclosed amount. The property is located in Knox County's Forks of the River Industrial Park. Baker Realty Co. represented the seller.
STERLING, VA. — First Potomac Realty Trust has broken ground on a 56,900-square-foot flex building in the 495,000-square-foot Sterling Park Business Center off Route 28 in Sterling. MSI Worldwide Mail will occupy 24,200 square feet in the property, which is 43 percent pre-leased. Gaithersburg, Md.-based DVA Architects designed the project to sustainable standards.
LAKELAND, FLA. — DBM Associates has purchased a 72,206-square-foot manufacturing facility from Star East Corp. for $3 million. The 15-year-old property is located on 12 acres at 2655 Old Tampa Highway in Lakeland. Steinbauer Associates' Jim Steinbauer represented the buyer in the transaction. Colliers International's William Parke, Dee Seymour and Edward Miller represented the seller.