HOUSTON — Grubb & Ellis’ Houston office has completed the sales of two buildings in Houston. In the first transaction, Bill Burge and Mark Lehman of Grubb & Ellis represented Ron and Janice Avery in the sale of a 24,640-square-foot building located at 10535 Fisher Rd. in northwest Houston. Barrett Gibson and Granelo Realty Partners LLC represented the buyer, 10535 Fisher Road LLC. In the second, Katy RRV Partners LP purchased a 6,177-square-foot building from GreensPoint Mortgage Funding Inc. Keith Lloyd and Tony Ricci of Grubb & Ellis represented the seller of the property, which is located at 21308 Provincial Blvd. in west Houston. Chandresh K. Patel represented the buyer.
Industrial
SMYRNA, TENN. — Murfreesboro, Tenn.-based Swanson Developments has acquired a 126,000-square-foot industrial property, located at 611 Enon Springs Rd. in Smyrna. The tilt-up, cross-docked facility is situated across from a Nissan auto manufacturing plant and was purchased from a Japanese corporation. Swanson is presently marketing it for lease to warehouse or manufacturing users. The acquisition price was not disclosed.
RIVIERA BEACH, FLA. — NAI Rauch, Weaver, Norfleet, Kurtz & Co. (NAI) has brokered the subleasing of 76,000 square feet of office and warehouse space, located at 1371 SW 8th St. in Riviera Beach. Palm Beach County will be subleasing the space for a 5-year term for the Supervisor of Elections. The sublease is valued at $1.52 million. The sublessor, Huttig Building Products, will continue to run its South Florida business operations out of a portion of the building. Randy Rauch of NAI represented Huttig; Bob Goldstein of Hospitality Consultants represented the County.
BELLINGHAM, MASS. — CB Richard Ellis Realty Trust has purchased a 238,370-square-foot newly completed warehouse/distribution building in Bellingham. The distribution center, which is located at 140 Depot St., is situated between Boston and Providence off I-495 and provides excellent access to I-95, I-93, and I-90. It is expandable and features pre-cast concrete construction, cross-docking, a 36-foot clear height, ESFR sprinklers and excess trailer parking. The Class A build-to-suit facility is fully leased to Best Buy Stores on a long-term lease. The retailer will use this facility primarily as a regional distribution center for home delivery of large items, as well as hosting a small service/repair center and providing dispatching and scheduling. The purchase price was undisclosed.
LAREDO, TEXAS — Lee & Associates has arranged the $500,000 sale of an 11,000-square-foot industrial property located at 514 Enterprise St. in Laredo. Evan McDonald and Steve Malley of Lee’s San Diego office represented the seller, U.S. Bank National Associates. The buyer, Property Management Group, utilized in-house representation. The acquisition price was not disclosed.
MOORPARK, CALIF. — George Eales of Daum Commercial Real Estate Services represented a family trust in the acquisition of a 32,233-square-foot industrial building, which is located at 5156 Commerce Ave. in Moorpark. The buyer’s family business, Pindler & Pindler Inc., currently occupies the property. York Moorpark Industrial sold the facility, which features dock-high and ground-level loading with 20-foot clearance, for $4 million. Mike Tingus and Scott Linklater of Lee & Associates represented the seller in the transaction.
POMONA, CALIF. — Andy Hu of Daum Commercial Real Estate Services represented both parties in the disposition and acquisition of a 12,524-square-foot industrial building in Pomona. Perfect Design Inc. sold the property to Kimberly Xu for $1.43 million. The property is located at 1928 W. Holt Ave.
HANOVER, MD. — Scheer Partners Inc. has negotiated a multi-year lease in Hanover for Eaton Corp., a Cleveland, Ohio-based diversified power management company. Eaton will consolidate their two Maryland locations at 9204 Berger Road in Columbia, Md., and 6671 Santa Barbara Road in Elkridge, Md., to occupy the new 50,850-square-foot distribution building at 7451 Coca Cola Drive. Custom build-out for Eaton’s new facility is slated for spring 2010, and is part of a three-building, 725,000-square-foot industrial park. Mike Norris of Scheer Partners’ Tyson Corner, Va., office represented Eaton in the lease transaction. Lincoln Property Co. negotiated on behalf of the landlord, a joint venture of Lincoln, Invesco and NYSTERS.
ROANOKE, VA. — Coca-Cola Bottling Co. has signed a long-term lease on a 75,000-square-foot industrial warehouse in Roanoke. Located in Valley Gateway Business Park, the expansion and investment is valued at $9 million. Doug Wright and Dennis Cronk of Roanoke, Va.-based Poe & Cronk Real Estate Group represented the owner, Roanoke Gateway.
EAST MOLINE, ILL. — Douglas Longyear of NAI BT Commercial’s San Francisco office represented both undisclosed parties in the disposition and acquisition of a FedEx Freight warehouse/distribution facility, which is located at 5005 Morton Dr. in East Moline. The 211,832-square-foot property sold for $19.25 million or $91 per square foot.