PHOENIX — Cassidy Turley BRE Commercial has negotiated Presson Corp.’s acquisition of the 236,883-square-foot Martin Van Buren Commerce Park in Phoenix. The Arizona-based private-investment company purchased the six-building, multi-tenant industrial complex, located at 301-502 N. 37th Drive and 3740 W. Van Buren, from ProLogis. Cassidy Turley’s Steve Lindley, Bob Buckley and Tracy Cartledge represented the buyer in the transaction; ProLogis was represented internally.
FULLERTON, CALIF. — Colliers International has negotiated the $12.25 million purchase of a 198,020-square-foot industrial property, located at 1424 S. Raymond Ave. in Fullerton, by South Coast Transportation and Distribution. The property consists of three industrial buildings situated on 14.9 acres of land. Colliers’ Clint McMorris and Lary Carlton represented the Los Angeles-based buyer in the transaction, and Grubb & Ellis’ Jeff Read and Greg Osborne represented the seller, Newport Beach, Calif.-based Western Realco.
MONROE, MICH. — Monroe Bank & Trust has completed the disposition of a building, which is located at 1300 Wood St. in Monroe. The industrial facility offers 28,502 square feet of space. The buyer and acquisition price were not released. Greg Hornby of Friedman Real Estate Group represented the seller in the transaction.
LAKE ZURICH, ILL. — ECHO Inc., which develops and manufactures professional-grade, hand-held outdoor power equipment, has selected Premier Design + Build Group to construct its 127,200-square-foot expansion at the company's existing facility in Lake Zurich. The project includes the addition of 12 exterior truck docks, one drive-in door, 28-foot clear heights and architectural pre-cast, and 3,000 square feet of office space improvements. Completion is slated for this summer. Stephan Rankin Associates is providing architectural services for the project, while Jacob & Hefner Associates is serving as civil engineer.
ALLENTOWN, PA. — Dayton Superior Co. has renewed the lease for its Allentown distribution facility. The company occupies 114,049 square feet at 7130 Ambassador Drive. John Crampsie of locally based NAI Summit represented the tenant, with assistance being provided by Dallas-based NAI Robert Lynn, which is the national leasing representative for Dayton Superior. The landlord and the terms of the lease were not disclosed.
SUGAR LAND, TEXAS — Cabot Properties has selected Transwestern's Houston office to lease Sugar Land Southwest Business Center. The 171,240-square-foot, Class A flex property is located in the 902-acre Sugar Land Business Park. The park houses Schlumberger Technology Corp., Baker Petrolite and Boise Cascade.
JACKSONVILLE, FLA. — Jax BTS#1, principals of which include Beechwood Partners and an affiliate of Weeks – Robinson, is developing a 240,000-square-foot distribution center. The property, which will be complete this summer, is located on 12 acres in Jacksonville's Westlake Industrial Park. PenserSC will occupy the building. Cushman & Wakefield of Florida's Mark Scott, Tyler Newman and Jim Patrick represented Beechwood Partners in the lease transaction. An item that ran on a sale transaction of this property in yesterday's newsletter was inaccurate due to errant information provided by Cushman & Wakefield of Florida. The property is under development and has not been sold.
NAPERVILLE, ILL. — Anchor Bolt & Screw Co. has completed the disposition of an 85,600-square-foot manufacturing/warehouse facility in Naperville. Primavesta purchased the property, which is located at 1560 N. Frontenac, for an undisclosed price. The facility offers 11,000 square feet of office space and 22-foot clear ceiling heights. Richard Daly and Cory Ramey of Darwin Realty & Development Corp. represented the seller; Sam Adam of Charles Rutenberg Realty represented the buyer in the transaction.
PORTAGE, IND. — BP Products North America, as part of the Whiting Refinery Modernization Project, has signed a lease to occupy the Midpoint USA distribution facility in Portage. Located within the AmeriPlex at the Port, the facility, which encompasses 54 acres, offers 574,249 square feet of industrial space. TCB Development/Tobin Development LLC developed the complex, which came online last year. Brian Vanosky and Justin Fierz of Lee & Associates of Illinois represented the developer/owner; Jen Wrinkle of Jones Lang LaSalle represented the tenant in the transaction. New Vista Investment Group, on behalf of Workers Realty Trust II, also had a hand in the transaction. Additional details of the transaction were not released.
ORLANDO, FLA. — Tom McFadden and William Bradford of Southern Commercial Real Estate Advisors have brokered two industrial leases in Florida. McFadden and Bradford represented the landlord, RREEF, in its 18,975-square-foot lease to Iberia Foods Corp. The tenant will occupy the space, which is located at 7580 Exchange Drive in Orlando, for the next 7 years. The Southern Commercial team also represented McDonald Ventures XXVI in its 6,100-square-foot lease to Atlantic Fasteners and Supply Co. The property is located at 3830 Enterprise Way in Sanford. Atlantic Fasteners will lease the space for the next 8 years.