LAFAYETTE, IND. — Eli Lilly and Company has agreed to sell its Tippecanoe Laboratories manufacturing facility to Evonik Industries AG, one of the world’s largest chemical companies. The facility, which is located in Lafayette, will remain in operation with a focus on producing high-quality active pharmaceuticals ingredients (API) and specialty chemical and animal health products. Concurrent with the sale, the two companies will enter into a 9-year supply and services agreement, whereby Evonik will manufacture API for certain Lilly human and animal health products. Additional terms of the transaction were not disclosed.
Industrial
WILLOWBROOK, ILL. — Cogent Asset has purchased a 25,428-square-foot building, which is located at 7001 Adams in Willowbrook, for $2.65 million. The facility features approximately 26 percent office space, 22-foot clear ceiling heights, an interior dock and a drive-in door. David Friedland of Epic Realty Partners represented the buyer; Brian Liston and Brian Gedvilas of Darwin Realty & Development Corp. represented the seller, VIP Morgan Partners, in the transaction.
WOOD DALE, ILL. — A private investor has acquired a 15,000-square-foot facility, which is located at 362 Balm Ct. in Wood Dale, for $1.29 million. The building features 2,300 square feet of office space, 16-foot clear ceiling heights, a dock and a drive-in door. Brian Liston and Brian Gedvilas of Darwin Realty & Development Corp. represented the buyer; Chris King and Tom Kukulski of Kingbrook & Associates represented the undisclosed seller.
HOUSTON — Nestle Waters North America has disposed of a 10,320-square-foot warehouse located at 1930 Lauder Rd. in Houston. Patrick Rollins of CBRE represented Nestle Waters in the transaction. Greg Barra of Boyd Commercial represented the undisclosed buyer. The acquisition price was also undisclosed.
POMONA, CALIF. — Los Angeles-based developer Overton Moore Properties (OMP) has sold a 95,604-square-foot industrial building, located at 389 Humane Way within OMP Empire Gateway Business Center in Pomona. The building is the third facility sold this year at the developer’s four-building, 246,000-square-foot center, which was completed in 2008. Cushman & Wakefield’s Phil Lombardo and Ty Newland represented the seller in the transaction, and the buyer, Roxy Realty Investment LLC, was represented by Lombardo, Newland and their colleague Stu Milligan.
CHICAGO — Steven D Construction has purchased a 2.82-acre industrial land site located at 2000 W. 43rd St. within Stockyards Industrial Park in Chicago. The company plans to redevelop the existing office buildings and use the land for equipment storage. Michael Nelson and Mark Nelson of Paine/Wetzel • ONCOR International represented the seller, Mike Kibler, in the transaction. The acquisition price was not disclosed.
HOUSTON — Marcus & Millichap has completed the sale of Beechnut Business Park, a 37,920-square-foot industrial property located in Houston. The building was built in 2008 and is situated on a 108,753-square-foot land parcel at 12769 Beechnut St. Joshua Lass-Sughrue and Justin Miller of Marcus & Millichap's Houston office represented the seller, a financial institution. Lass-Sughrue and Jason Ridenbaugh, also of Marcus & Millichap's Houston office, represented the buyer, a private investor. The acquisition price was not disclosed but the property listed for $1.6 million.
NORWOOD, MASS. — Boston-based NAI Hunneman has completed the sale of a 19,260-square-foot flex property located in Norwood for approxiamtely $1.59 million. The office and warehouse building is situated on 3 acres at 31 Astor Ave. NAI's Cathy Minnerly represented the sellers, Dave and Bob Dillon of Atlantic Safety Products, and procured the buyer, JI Enterprise.
DEER PARK, TEXAS — Henry S. Miller Brokerage (HSMB) has arranged a build-to-suit industrial sale at Deerwood Glen Business Park in Deer Park.The buyer, Abrasive Products & Equipment, plans to construct a 15,000-square-foot facility on a 2.39-acre site that is situated along Highway 225. The new building will house a sales and service operation for the manufacturer's portable air blast and supplies equipment business. Doug Bates and Joel Hill of HSMB's Houston office were the sole brokers in the transaction between Abrasive Products & Equipment and the seller, Clay Development & Construction.
LAKE FOREST, CALIF. — Irvine Property Investments LLC has acquired a 13,312-square-foot industrial building, located at 25612 Commercentre Dr. in Lake Forest, for $2.7 million. Kirk Cole of Grubb & Ellis represented the buyer in the transaction, and CB Richard Ellis’ Steve Wagner of represented the seller, Sundown Real Estate Partners.