PHOENIX — Baer Brake Systems has signed a 10-year lease for 60,292 square feet of industrial space at 2222 W. Peoria Ave. in Phoenix. Baer plans to relocate its headquarters to the new facility, which features office and showroom space, a fenced yard, three loading docks and air conditioning. Mitch Stravitz of Colliers International’s Scottsdale, Ariz., office represented the tenant; Tom Semancik of Commercial Properties Inc. and Jim Ryder of Capital Realty Advisors represented the landlord, Presson Equity Partners, in the transaction.
Industrial
EFFINGHAM, ILL. — NAI Global has arranged a lease renewal on behalf of Sherwin-Williams for its 1.22 million-square-foot regional distribution center in Effingham. The three-building complex is located at 711 W. Wabash Ave. The lease transaction was valued at more than $20 million, and it includes tenant improvement funds and economic incentives. Thomas Lynn of Dallas-based NAI Robert Lynn and David Branding of St. Louis-based NAI DESCO represented Sherwin-Williams in lease negotiations. The landlord is a private, out-of-state investor.
BURLINGTON, KY. — The Cincinnati office of Colliers Turley Martin Tucker (CTMT) has brokered the $1.5 million sale of a 131-acre land parcel located at the intersection of Limaburg Road and Lakeland Park Drive in Burlington. The site, which is near Cincinnati/Northern Kentucky International Airport, will be the future home of Lakeland Business Park. Jeff Bender of CTMT represented the seller, Lakeland Real Estate LLC. The buyer was Lakeland Farms LLC.
JERSEY CITY, N.J. — Strategic Storage Trust (SST) has acquired a U Store It self-storage property located in Jersey City for $11.62 million. Constructed in 1985, the property is situated on 2.2 acres at 69 Mallory Ave. It contains approximately 1,090 units and approximately 91,500 rentable square feet. The seller was not disclosed.
LAKE MARY, FLA. — Greenwood Properties has acquired a 58,910-square-foot industrial property from Roosevelt and Zsuzsa Rastegar for $3.41 million. The property is located at 650 Technology Park in Lake Mary. Robin Kesler of RE/MAX represented Greenwood Properties; David Murphy and Erik Schwetje of CB Richard Ellis’ Orlando, Fla., office represented the seller.
EAST LANSING, MICH. — Chicago-based Best Food Services Inc. has acquired a 50,486-square-foot industrial building, which is located at 5615 Enterprise Dr. within Midwest Industrial Park in East Lansing. The buyer, an Asian restaurant food and supply distributor, plans to use the warehouse/distribution facility to serve its Michigan clients. Blair Moore of CB Richard Ellis|Martin represented the buyer, Kuang M. Kwok of Best Food Services; Van Martin, also of CBRE|Martin, represented the seller, GTB Properties, in the transaction. The acquisition price was not disclosed.
PENNSAUKEN, N.J. — The Flynn Company has negotiated a 6-year, 33,500-square-foot lease at 9265 Commerce Highway in Pennsauken. The industrial space is being leased by The L.L. Clean Company, which does business as Towels By Doctor Joe. The space is owned and managed by The Bloom Organization. Dan Close of The Flynn Company was the sole broker in the transaction. The Landlord was represented in house.
PENNSAUKEN, N.J. — The Flynn Company has negotiated a 6-year, 33,500-square-foot lease at 9265 Commerce Highway in Pennsauken. The industrial space is being leased by The L.L. Clean Company, which does business as Towels By Doctor Joe. The space is owned and managed by The Bloom Organization. Dan Close of The Flynn Company was the sole broker in the transaction. The Landlord was represented in house.
CHARLOTTE, N.C. — Triad Warehouse Solutions has signed a lease with M. David Properties for 106,065 square feet of warehouse space in conjunction with a buyout of the property’s previous tenant. The space is located in the SilverLake IV building in Charlotte. Charlotte-based Piedmont Properties’ Lester Osborn and Scott Hensley represented Triad. Pete Pittroff and Brad Cherry of the local firm Keystone Partners represented the landlord, and Lane Holbert of Charlotte-based Colliers Pinkard represented Amsino International.
MASON, OHIO — Rhinestahl Corp., dba Mason Imagination, has acquired a 119,250-square-foot industrial building, which is located at 7687 Innovation Way in Mason. The buyer plans to relocate its operations from Blue Ash, Ohio, to Mason later this year. Chuck Ackerman and Bill Keefer of Grubb & Ellis|West Shell Commercial represented the buyer; Si Pitstick and Josh Young of Cincinnati Commercial Realtors, a member of the Cushman & Wakefield alliance, represented the seller, Werthbaier Properties, in the transaction. The acquisition price was not disclosed.