PHOENIX — CB Richard Ellis (CBRE) has negotiated a 38,988-square-foot lease at a warehouse/distribution building located at 1511 S. 47th Ave. in Phoenix. Pat Feeney, Dan Calihan and Rusty Kennedy of CBRE’s Phoenix office represented the landlord, Los Angeles-based EJM Development, in the 3-year lease agreement. Lee & Associates’ Allen Lowe represented the tenant, Calhoun, Ga.-based Mohawk Industries Inc. Financial terms of the transaction were not disclosed.
NAPLES, FLA. — PBR Naples has purchased a 6,300-square-foot warehouse from the James R. Noe II Revocable Trust for $1 million. The property spans 1.16 acres at 3535 Arnold Ave. in Naples. William Gonnering of Naples-based Investment Properties Corp. brokered the transaction.
AUBURN HILLS, MICH. — Michigan-based Summit Sports Inc. has acquired an approximately 49,050-square-foot industrial property, which is located at 1972 Brown Rd. in Auburn Hills. LDV Properties sold the facility for an undisclosed price. The new owner plans to use the property as a warehouse/distribution facility. Charles Ginster and Eugene Agnone III of CB Richard Ellis Detroit represented the seller in the transaction.
BURLINGTON, N.J. — Colliers Lanard & Axilbund (L&A) has brokered a lease for 58,992 square feet of industrial space in Burlington. AAA Transportation & Warehousing will occupy space within Crossroads Business Center at 122 Kissel Rd., a previously vacant, 160,000-square-foot building. The landlord, Exeter Property Group, plans to expand the building to 250,000 square feet in the future. Marc Isdaner and Ian Richman of Colliers L&A represented the tenant. Terms of the lease were not disclosed.
SUGAR LAND, TEXAS — Northstar Commercial Partners has acquired a warehouse and distribution center located in Sugar Land for approximately $15.7 million. The property totals 369,364 square feet and is situated on 21.1 acres within Sugar Land Business Park at 1601 Gillingham Lane. The building features 28- to 38-foot clear ceiling heights and more than 5 acres of outside storage/trailer parking. Two tenants currently occupy the property on a short-term basis. Northstar purchased the property from Amegy Bank, N.A. as a distressed asset. The bank also provided the primary financing for the deal. Bob Berry and Jarret Venghaus of Jones Lang LaSalle represented the seller in the transaction.
WOODRIDGE, ILL. — Meridian Design Build, serving as general contractor, has completed an 81,000-square-foot addition for The Morey Corp. Located with Internationale Centre in Woodridge, the project is the second building addition completed by Meridian for The Morey Corp. The expansion includes 45,000 square feet of temperature and humidity controlled manufacturing space, 28,000 square feet of raw material and finished goods warehousing and 8,000 square feet of employee welfare space, including restrooms, cafeteria space and meeting areas. Additional site improvements included 194 parking spaces and four loading docks. Oak Park, Ill.-based Schmidt Design provided architectural services for the project, while Manhard Consulting Ltd. serviced as civil engineer.
CLEVELAND — North American Switchgear has acquired 181,000 square feet of industrial space at 3180 Berea Rd. in Cleveland. S&Z Tool & Die Co. sold the property for an undisclosed price. The buyer is expanding its operations, which are also located at 12502 Berea Rd. North American Switchgear refurbishes and distributes used, reconditioned and out-of-production circuit breakers, switchgear and replacement parts. Jeffrey Kennedy of Grubb & Ellis represented the buyer in the transaction.
KANSAS CITY, KAN. — Wainwright Industries has signed a short-term lease for a warehouse facility located at 5300 Kansas Ave. in Kansas City. Wainwright will occupy 100,000 square feet of a Class A warehouse building, which recently underwent renovations. Jerry Fogel of Kessinger Hunter represented the tenant; Mark Long and John Green of Zimmer represented the landlord, BH Properties, in the transaction. The value of the lease was not disclosed.
WACO, TEXAS — Marcus & Millichap has brokered the sale of Patriot Homes, a 295,028-square-foot industrial property located at 1001 West Loop 340 in Waco. Jacob Steele and Andy Glinski of Marcus & Millichap's Denver office, along with John Abuja of the firm's Chicago office, represented the seller, a developer. The trio also represented the buyer, a limited liability company. Assistance was provided by Tim Speck of Marcus & Millichap's Dallas office. The acquisition price was not disclosed.
FREMONT, CALIF. — Silicon Valley investors Asilomar Partners have purchased a three-building, 195,000-square-foot research and development campus from UBS Realty, an institutional commercial real estate owner, for an undisclosed amount. Located at 49000 Milmont Drive in Fremont, the property had been marketed for more than 4 years, most recently as a residential redevelopment site. However, in the short term, Asilomar plans to keep it as an office/R&D project and will divide the buildings down to roughly 12,000 square feet. Mike Webber of GVA Kidder Mathews represented Asilomar in the transaction.