NEW ROCHELLE, N.Y. — CB Richard Ellis (CBRE) has arranged the purchase of a 111,563-square-foot warehouse located in New Rochelle for $5.6 million. Situated on 3.75 acres at 30 Pine St., the single-story building features ceiling heights ranging from 14 to 20 feet. The Pearlgreen Corporation purchased the building and plans to move in by spring 2010. William Cuddy, Budd Wiesenberg and Kevin Langtry of CBRE’s Stamford, Conn., office represented the seller, Bakers Pride Oven Co., in the transaction. The same CBRE team also represented Bakers Pride in the leasing of a new property at 145 Huguenot St. for its customer service department. The company’s assembly and distribution operations, which also were previously located at the Pine Street facility, will move to a company-owned facility in New Jersey. Joel Feinberg of Feinberg Bros. represented Pearlgreen in the acquisition.
Industrial
CAROL STREAM, ILL. — Wrightwood Capital has entered into a joint venture agreement with Chicago-based The Missner Group for the development of two industrial buildings in Carol Stream. Village Drive is a planned 93,000-square-foot industrial building located on a 4.66-acre site at 417 and 418 Village Dr. The facility will feature 28-foot clear ceiling heights, 10 exterior loading docks, two drive-in doors and 5 percent office space. Westgate Drive is a planned 80,000-square-foot industrial building located at 221 Westgate Dr. The facility will feature 24-foot clear ceiling heights, eight interior loading docks and office space. Both properties will be divisible for multi-tenant use. The Village Drive property will be marketed by Carter Andrus and David Bercu of Colliers Bennett & Kahnweilier, and the Westgate Drive property will be marketed by Andy Corken of CB Richard Ellis. The properties are the 14th and 15th assets for Wrightwood Capital’s Industrial Fund III.
TEJON RANCH, CALIF. — Tejon Ranch Co. and Rockefeller Group Development Corp. have broken ground for the construction of a second building at Tejon Industrial Complex, a 1,450-acre master-planned commercial development in Tejon Ranch. Part of the park’s 39-acre The Campus section, the 120,000-square-foot building is designed to serve the needs of manufacturers and smaller warehouse operators. Designed by Irvine, Calif.-based HPA, the facility is scheduled for completion by September 2008. Additionally, the partnership is currently constructing a 606,000-square-foot warehouse building on the site, which is set for completion in January 2008.
ROCK HILL, S.C. — Alliance Plastics of Fort Mill, N.C., has leased 106,880 square feet of industrial space from Cleveland-based Weston Inc. Located in the 590,000-square-foot Weston Commerce Center at 2700 Commerce Dr. in Rock Hill, the property will house the firm’s production and warehousing operations. Legacy Real Estate Advisors represented the tenant. Piedmont Properties|CORFAC International’s A. Scott Hensley and Lester Osborn represented the landlord.
FRANKLIN PARK AND BATAVIA, ILL. — Lee & Associates of Illinois has brokered two lease transactions totaling 85,734 square feet in Franklin Park and Batavia. In the first transaction, Hercules Tire & Rubber Corp. leased 60,329 square feet of warehouse space at 3710 River Rd. in Franklin Park. Chris Nelson of Lee & Associates represented the tenant; Matt Mulvihill of Grubb & Ellis represented the landlord, KTR Capital Partners. In the second transaction, Michael Androwich of Lee & Associates represented Midwest Restoration in the leasing of a 25,405-square-foot industrial building, which is located at 1180 Douglas Rd. in Batavia. Lee & Associates’ Nick Eboli represented the undisclosed landlord. The values of the transactions were not released.
MT. PLEASANT, WIS. — Chicago-based HSA Commercial Real Estate has closed the first transaction at its Park 94 at Mt. Pleasant, a 90-acre multi-building business park in Mt. Pleasant. Menomonee Falls, Wis.-based Maysteel has leased 40,744 square feet of space at Building 2, a 125,000-square-foot facility located at 1400 International Dr. in Park 94. The building features 30-foot clear ceiling heights, 21 docks, two drive-in doors and parking for 155 vehicles. Sam Dickman of The Dickman Company represented Maysteel; David Bercu, David Liebman and Brendan Green of Colliers Bennett & Kahnweiler represented the property owner, HSA Commercial. Terms of the lease were not disclosed.
DALLAS — Shanaa & Chanaa Sales has acquired a 16,465-square-foot warehouse located at 818 Metro Media Place in Dallas. The company plans to use the facility for the distribution of dry goods and equipment for the expanding Ali Baba's chain of restaurants. The buyer was represented by Matt Thompson and Phil Rosenfeld of Colliers. Tom Strohbehn of Grubb & Ellis represented the seller, Daytona Beach, Fla.-based Williams Consolidated I. The acquisition price was not disclosed.
COPPELL, TEXAS — Duke Realty Corp. has leased 144,019 square feet within its Freeport North Industrial Park in Coppell to Concote Corp. The manufacturer and distributor of packaging and custom fabrication will occupy space within the 559,582-square-foot Freeport IX building, which is located at 600 Freeport Pkwy. The building features 32-foot clear ceiling heights, 43-foot by 58-foor column spacing and 60-foot staging bays. This lease brings occupancy at the building to 80 percent. Tom McCarthy and Paul Whitman of Jones Lang LaSalle represented Concote in lease negotiations. Randy Wood provided in-house representation for Duke.
HOUSTON — Marcus & Millichap has completed the sale of an industrial property located in Houston. The 15,238-square-foot building is situated on 1 acre at 11611 Bissonnet St. in Houston. Joshua Lass-Sughrue of Marcus & Millichap's Houston office represented the seller, a Hawaii-based private investor. Justin Miller, also of the firm's Houston office, represented the buyer, a Texas-based private investor.
FIFE, WASH. — Animal Supply Co. will expand and renew its current lease of a warehouse and distribution facility in Fife. The expansion of 42,600 square feet brings the company’s total lease up to 120,700 square feet. The financial terms of the 5-year lease with owner TIAA CREF were not disclosed. Cornish & Carey’s Joe Fabian and Scott Carter of Seattle-based Pacific Real Estate Partners represented Animal Supply Co. in the transaction.