AURORA, COLO. — Grubb & Ellis has arranged the $4 million acquisition of an 86,214-square-foot industrial building, located at 15000 E. 39th Ave. in Aurora. The brokerage firm’s Mike Wafer represented the buyer, Hoff Cos., in the transaction, and CB Richard Ellis’ Murray Platt and Jim Bolt represented the seller, Subaru of America.
MEADOWLANDS, N.J. — DCT Industrial has purchased an industrial property located in the Meadowlands submarket of New Jersey for $17.5 million. The deal was a sale-leaseback transaction between DCT and the property's sole tenant. The building contains 330,000 square feet of light manufacturing and distribution space. it was purchased for 30 to 35 percent of replacement cost and is expected to generate a year-one cash yield of 9.7 percent. Following the tenant's lease expiration, DCT will reposition the property as a multi-tenant, bulk distribution building.
CORPUS CHRISTI — Jones Development Co. is building a 46,253-square-foot distribution center on behalf of FedEx Corp., located at 246 Glasson Dr. in Corpus Christi. The Dallas office of Cadence McShane is completing the general contracting work on the industrial property. Scheduled to be completed in May, the new distribution center will offer 4,200 square feet of office space in addition to 11 external doors and two drive-in doors. Cadence McShane has received numerous assignments on behalf of Jones Development Co. to construct FedEx facilities throughout the country.
WEST CALDWELL, N.J. — Kanebridge Corp. has acquired a flex industrial property in West Caldwell for $3.85 million. The company will occupy half of the 50,000-square-foot building as its new headquarters. The other half is occupied by an existing tenant that recently renewed its lease. Cushman & Wakefield represented Kanebridge in the acquisition and is also marketing the firm's former headquarters in Oakland, N.J., for sale or lease. The Cassidy Turley team of Howard Weinberg and Matthew Turse represented the seller, JKL Properties.
HOUSTON – Blackmon-Mooring of Houston, a commercial cleaning company for fire, water, upholstery and carpet damage, has renewed its lease of 70,458 square feet of warehouse space at Beltway 8 Business Park in southwest Houston. Will Hedges of DCT and Jon L. Michael of NAI Houston represented the landlord, DCT Industrial Trust. Chris Mason, Santee Hathaway and Andy Iverson of Jackson Cooksey represented Blackmon-Mooring.
IRVINE, CALIF. — MAM-Von Karman LLC has completed the disposition of 17352 Von Karman Avenue in Irvine. The 95,005-square-foot industrial property sold for an undisclosed price. The buyer, ICC-CHT LLC, plans to use the facility as the company's new headquarters. Cameron Driscoll, Luke McDaniel, Mike Hartel and Travis Haining of Voit Real Estate Services represented the seller. DAUM Commercial represented the buyer in the transaction.
SAN LEANDRO, CALIF. — Locally based Sirio North America has acquired an approximately 10,000-square-foot warehouse facility in San Leandro. Located at 1975 W. Ave 140th, the concrete tilt-up building features dock-high loading, 16- to 18-foot clear heights and off-street parking. Craig Hagglund and Doug Pearson of Lee & Associates Oakland, Calif., office represented both the buyer and the undisclosed seller in the transaction.
ADA, OHIO — Dynarex Corp. has acquired a 50,000-square-foot distribution center in Ada. The property was constructed in 1999 by the City of Ada to attract new business to the area. Tim Echemann of Industrial Property Brokers represented Dynarex in the transaction. The seller and acquisition price were not disclosed.
AURORA, ILL. — NorthMarq Capital has arranged $12.2 million in first mortgage financing for Excel I, an industrial building in Aurora. The 650,000-square-foot building is located at 2580 Prospect Court. Financing was based on a 10-year term and a 25-year amortization schedule. James Hoopes and Erik Kunz of NorthMarq secured the financing for the borrower through NorthMarq's correspondent relationship with Aviva Life and Annuity Co.
NEW YORK CITY — Massey Knakal Realty Services has brokered the sale of an approximately 35,000-square-foot warehouse located at 22 N. 15th St. in the Williamsburg neighborhood of Brooklyn. The property traded for $6.17 million, which is above its asking price. The building was formerly leased to the New York City Department of Environmental Protection. Massey Knakal's Mark Lively and Brendan Maddigan were the exclusive brokers in the deal between the two undisclosed parties.