CAMANCHE, IOWA — Davenport, Iowa-based NAI Ruhl & Ruhl Commercial Co. has completed the $14.4 million sale of a Mississippi River barge and rail terminal, located in Camanche. Previously owned and operated by Determann Industries, the 317-acre site contains 15 industrial buildings, an asphalt plant, a rail spur, a deep water harbor and barge fleeting river frontage. NAI’s Chuck Ruhl was the sole broker in the transaction.
BLAIRSTOWN, IOWA — Gulf Alternative Energy Corp. (GAEC) has agreed to purchase an ethanol production plant located in Blairstown. The facility, which is presently owned by Xethanol Biofuels, has the capacity to produce up to 6 million gallons of ethanol per year. GAEC plans to convert the plant to produce ethanol from cellulosic plant materials such as corn stalks and cobs, switchgrass, and agricultural waste. The facility previously produced ethanol from food and feedstock-based materials such as corn. The acquisition is scheduled to close this fall.
BERLIN, CONN. — Colliers Dow & Condon has brokered a lease transaction for Phase I of ARGO Center, located at 550 Wilbur Cross Pkwy. in Berlin. ABC Supply has signed a long-term, approximately 65,000-square-foot lease for its wholesale distribution operations. Nicholas Morizio of Colliers Dow & Condon facilitated the transaction. Leasing has also begun for future phase of the development. Phase II consists of three retail/industrial pad sites, and Phase III will consist of an 84,000-square-foot retail building.
DALLAS — Henry S. Miller Brokerage has completed a lease for the relocation and expansion of USA Pallet & Logistics’ headquarters. Currently located in South Dallas on Bronze Way, USA Pallet & Logistics will relocate to 2829 Sea Harbor in a 233,529-square-foot, single-tenant building. Situated on 9.06 acres, the new building includes 5,000 square feet of office space and tilt-wall construction. USA Pallet & Logistics was represented by Pete Richardson and Drew Richardson of Henry S. Miller Brokerage in lease negotiations. The landlord, TA Reality Associates Fund, was represented by Jim Brice of Holt Lunsford Commercial.
FRIDLEY, MINN., AND CONCORDIA, MO. — Colliers Turley Martin Tucker (CTMT) has arranged two industrial leases totaling 318,666 square feet. First, CTMT’s Minneapolis/St. Paul office completed a lease for 244,666 square feet at River Road Industrial Center, located at 4800 E. River Rd. in Fridley. The space will be occupied by BP Wind Energy North America. The value of the lease is $2.36 million. CTMT’s Ronald Scholder, Mark Kolsrud and Matthew Klein represented the landlord, ELT Minneapolis LLC. River Road Industrial Center is the largest industrial building in the state of Minnesota, totaling more than 2 million square feet in a single building. In the second transaction, CTMT’s Kansas City office arranged a 74,000-square-foot lease at 101 Davis Rd. in Concordia. The lease is valued at $2.35 million. CTMT’s Alec Blackwell represented the tenant, Old World Spices & Seasonings. The landlord is I-70 Storage Properties LP.
KANSAS CITY, KAN. — Kansas City, Mo.-based Grindstone Industrial Properties has brokered the sale of a 10,745-square-foot industrial building, located at 22 N. Sixth St. in Kansas City. Pat Murfey of Grindstone negotiated the transaction between the buyer, Mittal Patel Properties, and the seller, Randy A. Moore Properties. The acquisition price was not disclosed. In addition, Murfey arranged a 12,386-square-foot industrial lease at 74 S. James St., also in Kansas City. The tenant is Brauer Supply Co. and the landlord is Robert S. Ehinger Trust.
FORT WORTH, TEXAS — Henry S. Miller Brokerage (HSMB) has arranged the sale and subsequent lease of a 14,000-square-foot industrial building located in Fort Worth. The facility is situated on 5 acres at 13201 Harmon Rd. It features 4,000 square feet of finished office space, 1,500 square feet of auxiliary space, grade-level loading and a 3.5-acre storage yard behind the building. The property was purchased by a local investment group. It will be occupied by Newport News, Va.-based Ferguson Enterprises, which will operate the location as the regional headquarters for its waterworks division. Terms of the lease included substantial TI allowances for property improvements, specifically to the storage yard behind the building. The seller is Best Texas Plumbing. HSMB’s Jim Hazard, Brett Heinan and Todd Hawpe were the sole brokers in the transaction.
SAN JOSE, CALIF. — Kimberly O’Sullivan has purchased a 43,250-square-foot research and development building, which is located at 1525-1531 Atteberry Lane in North San Jose. Jane S. Roos et al. sold the property, which includes a fenced parking/yard area, for $3.5 million or $81 per square foot. The buyer plans to occupy a portion of the facility. Kevin Sweatt of NAI BT Commercial San Jose and Charles Strouss of GVA Kidder Mathews represented the buyer in the transaction.
UNION CITY, CALIF. — RJAN, dba 99 Ranch Market, has acquired a 35,400-square-foot warehouse building for $2.5 million or $71 per square foot. Located at 2821 Faber St. in Union City, the property is adjacent to 99 Ranch Market’s new distribution center. The seller was Diane Davies. Sam Higgins and Tom Damaschino of NAI BT Commercial Oakland, Calif., represented the buyer in the transaction.
MOREHEAD, KY. — Morehead State University has purchased a 60,000-square-foot warehouse from Barhorst Property for $1.3 million. The building spans 7 acres at 160 Old Cranston Rd. in Morehead. Lexington, Ky.-based NAI Isaac Commercial Properties’ Bruce Isaac represented the seller.