GRAND RAPIDS, MICH. — Grand Rapids-based Grubb & Ellis|Paramount Commerce has brokered the sale of two area industrial facilities. In Sparta, which is situated just north of Grand Rapids, the firm’s Steve Marcusse and Matt Abraham have represented Mercantile Bank in the sale of a 33,747-square-foot industrial building located at 100 Applewood Dr. to Storage Control Systems. Stu Kingma of The Wisinski Group represented the buyer. The bank-owned property, which is in need of some upgrades, will be updated by the buyer in order to accommodate modern space requirements. In the southern Grand Rapids suburb of Wyoming, Clean Earth LLC has acquired a 16,500-square-foot industrial facility located at 4750 Clyde Park Ave. from Julius Duthler Trust. The truck center was sold to a local septic tank business that will utilize the property for truck maintenance and storage. Marcusse negotiated the transaction on behalf of the buyer; Randy Bronkema, Derek Hunderman and John Kuiper of Grubb & Ellis|Paramount Commerce represented the seller.
NEWARK, N.J. — Woodbridge, N.J.-based The Kislak Company has completed the sale of a 101,000-square-foot warehouse building, located at 194-204 N. 12th St. in Newark. The property, which traded for $1.65 million, contains five floors and features ceiling heights that range from 13 to 18 feet, a 4,000-pound capacity freight elevator, a small office area and six loading doors. Kislak’s Jonathan Greenberg and Scott Davidovic represented the seller; Greenberg represented the buyer. Both parties were undisclosed.
SAN FRANCISCO — 2225 Jerrold LLC has purchased a 91,300-square-foot warehouse/distribution property in San Francisco. Located at 2225 Jerrold Ave., the property sold for approximately $11 million. The building was previously occupied by DBI Builders, who are relocating to South San Francisco. Scott Mason of NAI BT Commercial represented the undisclosed seller in the transaction.
PUYALLUP, ORE. — IPG Properties has acquired a 12,000-square-foot industrial property, which is located at 11409 58th Ave. E. in Puyallup. Janin II LLC sold the property for $1.1 million. Bob Naber and Laura Fox of GVA Kidder Mathews represented both parties in the transaction.
ORLANDO, FLA. — Maitland, Fla.-based NAI Realvest has brokered three industrial lease agreements totaling more than 35,400 square feet in Orlando. In the first transaction, Ardmore, Pa.-based Hajoca Corp. renewed a 30,000-square-foot lease at 2499 Mercy Dr. Ray Romano of CB Richard Ellis represented the tenant; Michael Heidrich represented the landlord, Brandon, Fla.-based LB Sowell Corp., in the transaction. In the second transaction, Orlando-based D&G Occasions negotiated for a 3,420-square-foot lease expansion at 645 Herndon Ave. The tenant currently occupies 10,904 square feet of space. Heidrich represented the landlord, Winter Park, Fla.-based LBJ Properties, in the transaction. In the final transaction, Purpose-Filled Ministries International Fellowship has signed a 3-year lease for 2,000 square feet of space at 1460 N. Goldenrod Rd. within Goldenrod CommerCenter. Heidrich represented the landlord, Maitland-based COP-Goldenrod.
MONEE, ILL. — Principle Construction Corp. has been selected to complete a 178,250-square-foot tenant build-out for Des Moines, Iowa-based logistics provider Jacobson Cos. The tenant will occupy space within Lot 2 of Bailly Corporate Ridge Corporate Center, located at 25810 S. Ridgeland Ave. in Monee. The build-out includes 3,750 square feet of office space, warehouse improvements that will make the facility fit for food re-packaging, the construction of perimeter fencing and the installation of 21 additional trailer parking spaces. The project architect is Harris Architects. Jacobson Cos. will occupy space within a 431,000-square-foot, cross-docked distribution building. The facility is situated on 24 acres, and features 32-foot clear ceiling heights, 10,000 square feet of office space, 40 docks and 46 trailer parking stalls, with expansion capability. Bailly Ridge Corporate Center is a 412-acre master-planned business park that is being developed by Location Finders International. At full build-out, it will contain 7.5 million square feet of space.
FREEBORN COUNTY, WIS. — Wisconsin Power & Light Co., a subsidiary of Alliant Energy Corp., has received unanimous approval from the Public Service Commission of Wisconsin for the construction of a new wind farm. The project, which is known as the Bent Tree Wind Farm, will be located in Freeborn County. It is expected to cost $425 million to $475 million and will generate approximately 200 megawatts of electricity — enough to power approximately 50,000 homes. Bent Tree Wind Farm will be Wisconsin Power & Light’s second wind farm in the state. The first, the 68-megawatt Cedar Ridge Wind Farm, is located in Fond du Lac County and began operation in December 2008.
NEW YORK CITY — A total of $1.5 billion in debt and equity financing has been secured for the construction of a natural gas power plant located in the Astoria neighborhood of Queens. Once the facility goes on-line in 2011, it will provide 550 megawatts of energy to the New York Power Authority, which has a 20-year tolling agreement with the plant’s owner, Astoria Energy II LLC. The new phase will double the size of the current Astoria Energy facility, which was first constructed in 2004. Debt financing for the project was provided by 13 domestic and international commercial bank lenders. Equity financing was provided by an affiliate of SNC-Lavalin Generation, also the project’s general contractor, as well as an affiliate of GDF Suez North America, which is the project’s construction manager. Other equity investors include affiliates of Manhattan-based JEMB Realty and Energy Investor Funds.
NEW YORK CITY — Brooklyn, New York City-based Kalmon Dolgin Affiliates (KDA) has brokered the sale of a 50,000-square-foot warehouse building, located on 4th Street in Astoria, Queens, for $4.3 million. KDA’s Jeffrey Unger and Robert Klein represented the buyer, AA Holding of Long Island City LLC, and the seller, 26-01/26-15 4th Street LLC. The buyer is a local supermarket food distributor that purchased the property for its proximity to the distributor’s clients in the Bronx, Queens, Manhattan and Long Island.
SAN DIEGO — A private family trust has purchased Convoy – Ronson Plaza and Industrial Park, which is located at 7854-7924 Ronson Rd. in San Diego, for $12.25 million. Built in 1973, the 104,213-square-foot property features two retail buildings totaling 29,605 square feet and seven single-story, multi-tenant industrial buildings totaling 74,608 square feet. Joe Bonin, Pay Geary and Doug Ritterman of ECP Commercial represented the buyer; Nick Psyllos, Paul Komadina, Brad Jones, Bill Dolan and Doug Works of CB Richard Ellis represented the seller, KM Development-72, in the transaction.