LEVELLAND, TEXAS — Construction has commenced on a $2.5 million expansion of two 150,000-square-foot warehouses at the Farmers Co-op Compress plant in Levelland. The expansion will increase the storage capacity by 72,000 bales of cotton. Construction will take three months.
BUFORD, GA. — Hettich America, a kitchen cabinet hardware manufacturer, has signed a lease with IDI for 126,256 square feet in Building A at the 2.7-million-square-foot Hamilton Mill Business Center. A tad more than 25,000 square feet of warehouse space is still available in the property, which is located at 4925 Hamilton Mill Road in Buford. The company will begin occupying the facility in June. The lease is the result of a consolidation of two facilities in Georgia. NAI Brannen/Goddard's Nathan Anderson represented Hettich in the lease. Lisa Ward served as in-house representation for IDI. The Gwinnett Chamber also helped bring IDI to the new space.
AUSTIN, TEXAS — PS Business Parks has purchased a 704,000-square-foot industrial portfolio from an undisclosed party for $42.9 million. The 13-building portfolio is divided among three business parks in Austin. The warehouses are 88.1 percent leased.
PORTLAND, ORE. — Grubb & Ellis has represented United Stationers Supply Co. in its 195,510-square-foot industrial lease at Rivergate Corporate Center III, located at 14330 N. Lombard St. in Portland. Terms of the deal were not disclosed. Brad Fletcher of Grubb & Ellis represented the lessee in the transaction, and John Fettig of Capacity Commercial represented the lessor, MEPT Rivergate III LLC.
ST. LOUIS — David Garfinkel of NorthMarq Capital’s St. Louis regional office has secured a $3.45 million mortgage for Meadows Corporate Center in St. Louis. The 69,236-square-foot industrial property is located at 1831-1875 Lackland Hill Parkway. Financing was based on a 15-year term with a 15-year amortization schedule. The loan was arranged for the undisclosed borrower through NorthMarq’s correspondent relationship with Aetna.
HARLINGEN, TEXAS — Terry Ray Construction has broken ground on a $5 million expansion to Tyco Flow Control's Harlingen facility, which will add 33,000 square feet to the 80,000-square-foot property. The property is located in the Harlingen Industrial Park on Industrial Way. Tyco has been working since January 2009 to consolidate two existing plants into the facility, which will house 65 new jobs on top of its existing workforce of 120. The Harlingen Economic Development Corp. worked to secure the expansion.
RICHMOND, ILL. — Bro Trust has acquired a 240,158-square-foot industrial property, which is located at 5900 Ami Drive in Richmond. Built in 1990 and situated on 14.35 acres, the property features 11,069 square feet of office space, 30- to 32-foot clear ceiling heights, visibility from U.S. Route 12, metal halide lighting and expandable trailer parking. Bro Trust is relocating from Niles, Ill., and will take occupancy in May. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CB Richard Ellis brokered the transaction. The seller was Intermatic Inc. and the asking price was $5.9 million.
WEST JORDAN, UTAH — BH Properties has completed the $12.75 million sale of a 363,000-square-foot warehouse complex, located at 9669 Prosperity Road in West Jordan. NAI Utah’s Bryce Blanchard represented BHP in the transaction, which included assumption of the existing CMBS financing; NAI’s Zach Anderson represented the buyer, KPFN Properties LLC.
MONROE TOWNSHIP, N.J. — L.A. Enterprises has signed a lease that will relocate its headquarters to the Alovats North distribution property in Monroe Township. The tenant, which was previously headquartered in South Brunswick, will occupy 372,000 square feet within the building — representing an approximately 130,000-square-foot expansion. Stan Danzig, Jules Nissim and Noah Balanoff of Cushman & Wakefield's East Rutherford, N.J., office, along with Frank Caccavo and Jason Goldman of the firm's Edison, N.J., office represented the landlord, Principle Real Estate Investors, in lease negotiations. Douglas Fura of NAI Farbman and Raymond Musalo of Alliance Real Estate Group represented the tenant. Located near Exit 8A of the New Jersey Turnpike at 1 Costco Way, Alovats North is an approximately 1 million-square-foot, Class A distribution facility that features 36-foot clear ceiling heights, 50-foot by 50-foot column spacing and cross-docked loading.
SUWANEE, GA. — Mitsubishi Electric & Electronics has leased 126,144 square feet from Duke Realty Corp. at the Horizon Business Center in Suwanee. Mitsubishi's HVAC Division will occupy the space, which is located at 2800 Vista Ridge Drive. The property is now fully leased. Jones Lang LaSalle's Alan Clayton represented the tenant. Brian Sutton served as in-house representation for Duke Realty.