GURNEE, ILL. — Waukegan, Ill.-based Acacia Spice Co. has purchased a 25,069-square-foot manufacturing facility, which is located at 3940 Porett Dr. in Gurnee. Kalva Corp. sold the property for an undisclosed price. The spice company plans to relocate from its current 12,000-square-foot facility in Waukegan. Steve Sullivan of NAI Hiffman represented the buyer; Patrick Shannon of Darwin Realty represented the seller in the transaction.
Industrial
CHICAGO — Meridian Design Build has completed a 31,093-square-foot renovation at 1419 W. Carroll Ave. in Chicago. The industrial property will house the Wicker Park Carrier Annex for the United States Post Office (USPS). The USPS recently leased the property from building owner CF III Carroll Building. The renovation included selective interior demolition and construction of new interior improvements, including a complete build out of partition walls and interior finishes and new HVAC throughout the entire space. Additional improvements included upgrades to the building electrical service, new locker rooms and construction of a fully enclosed interior loading dock area.
JERSEY CITY AND SECAUCUS, N.J. — Secaucus-based Hartz Mountain Industries has completed leases for two of its New Jersey properties for a total of 458,925 square feet. In the first transaction, Broadridge Financial Solutions signed a lease for a 320,282-square-foot office building located at Two Journal Square Plaza in Jersey City. The building is situated just above the Journal Square PATH terminal and is owned by a partnership between Panepinto Properties and Garden State Development. Michael Cohen and Colton Brown of FirstService Williams, along with David Pennetta of Oxford & Simpson Realty, advised Broadridge. In the second transaction, Meadowlands Distribution signed a lease for 138,643 square feet of industrial space at 35 Henry St. within Hartz's Harmon Cove Industrial Park in Secaucus. Andrew Stypa of Sitar Co. represented Meadowlands Distribution in lease negotiations. Hartz Mountain Industries provided in-house representation. Terms of both leases were not disclosed.
NEWFIELDS, N.H. — O'Neil Warehouse Co. has purchased a 115,000-square-foot warehouse located in Newfields at auction. The building is situated at 16 Swamscott St. O'Neil plans to use it as its new company headquarters. Peter Bilipp of Portsmouth, N.H.-based The Kane Company brokered the transaction on behalf of O'Neil. The acquisition price was not disclosed.
BREA, CALIF. — Cabinet-hardware distributor Louis and Co. has signed a 5-year lease renewal for 115,000 square feet of office/industrial space at 895 Columbia St. in Brea. CB Richard Ellis’ Ben Seybold, Mark Latimer and Sean Ward represented the tenant in the transaction.
MEMPHIS, TENN. — Monmouth Real Estate Investment Corp. has purchased a 450,000-square-foot warehouse from Harbin Enterprises for $14.6 million. The property, located at 5025 Tuggle Rd. in Memphis, is triple-net-leased to FedEx Supply Chain Services, a tenant in the building since 2005. Darren Sides of Porthaven Partners represented Monmouth in the transaction.
GAFFNEY, S.C. — Jetline has leased a 150,000-square-foot warehouse from Forsite Development in Gaffney. Jetline is moving to the new property, located at 202 Hyatt St., from its old base in Mt. Vernon, N.Y. As part of the move, the company will add 247 jobs and invest $3.5 million in the facility.
CHARLOTTE, N.C. — KBS Realty Advisors has leased 86,660 square feet of space in its 496,406-square-foot Crossroads Distribution center in Charlotte, bringing capacity of the property to 100 percent. Brad Cherry of Keystone Partners represented Moulding and Millwork in its 63,240-square-foot lease. Piedmont National, represented by Adam Eason of Trinity Partners, leased 23,460 square feet. Lane Holbert, Barb Jespersen and John Wharton served as in-house representation for KBS.
TROY, MICH. — Ronal Industries has leased 27,280 square feet of industrial space, which is located at 1400 Allen in Troy, for an undisclosed price. The company, which is a defense contractor, plans to use the property to develop military vehicles. Matthew Osiecki and Lauren Scarpace of CB Richard Ellis represented the landlord, First Industrial, in the transaction.
WESTFIELD, MASS. — Braintree, Mass.-based Campanelli Cos. has sold a fully permitted, 71.67-acre site located in Westfield to The Home Depot U.S.A. Inc. for $5.76 million. The site is situated within the 130-acre Campanelli Business Park of Westfield. The Home Depot plans to construct an approximately 650,000-square-foot rapid distribution center on the site that will serve the company's Northeast region. The transaction also includes a fully executed tax increment financing agreement related to the project. The construction timetable was not released.