HOUSTON — Duke Realty Corp.'s Houston office has begun construction on Westland II, a 300,000-square-foot bulk industrial building in Westland Business Park in Houston. RAM Chemical & Supply, a pool and spa chemicals and supplies provider, will occupy 139,600 square feet. Westland II will have a clear height of 28 feet and feature 80 dock doors. Construction is expected to be completed in April 2011. Jim Thompson of Grubb & Ellis represented RAM Chemical & Supply in its lease transaction, while Cory Driskill of Duke Realty represented Duke.
PEWAUKEE, WIS. — Caliendo Promotions Inc. has signed a lease for 32,000 square feet of warehouse/industrial space at Roundy Business Park in Pewaukee. The tenant will use the new space, located at W22N2792 Duplainville Road, to expand its promotional item distribution operations. James Young of Milwaukee-based Cassidy Turley Barry represented the tenant; the landlord, Burbach Cos., has in-house representation in the transaction.
LEBANON, TENN. — Monmouth Real Estate Investment Corp. (MREIC) has acquired a 381,240-square-foot industrial property located at the South Perimeter Industrial Park in 900 Hutchinson Place in Lebanon. The property sold for $14.5 million. Built in 1993, the property is net-leased through June 2024 to CBOCS Distribution Inc., a subsidiary of Cracker Barrel Old Country Store Inc. Brad Pepin of Stan Johnson Co. represented MREIC in the transaction. The seller was not disclosed.
CHICAGO — ProLogis has signed a fourth-quarter build-to-suit expansion agreement for 337,000 square feet with Bay Valley Foods, a provider of private label food products. Bay Valley Foods currently occupies 620,000-square-foot, LEED Silver certified facility at ProLogis Rochelle, which was developed in 2008 for the customer. The new project will be an expansion of Bay Valley's existing building. Bay Valley plans to use the new space as additional warehouse and distribution space. The 13.8-acre project is an expected $11.6 million investment.
RANCHO DOMINGUEZ, CALIF. — Cabot Properties has purchased a 215,635-square-foot warehouse and distribution building located at 18626 South Reyes Ave. in Rancho Dominguez. The seller and terms of the deal were not disclosed. The sale of the property, which is currently 100 percent occupied by Guildcraft of California, was facilitated by Cushman & Wakefield’s Jeffrey Cole, Ed Hernandez and Rooney Daschbach.
HOUSTON — Mayfield Properties has acquired a 120,810-square-foot industrial facility located at 8451 Market Street Rd. in southeast Houston for an undisclosed price. Market Portwall LP, a partnership controlled by The National Realty Group, sold the property that is situated close to the 610 Loop and Interstate 10 interchange, 3 miles north of the Port of Houston and 5 miles east of Houston's central business district. Rusty Tamlyn and Trent Agnew of Holliday Fenoglio Fowler (HFF) represented the seller, while Brian Carlton of HFF, working on behalf of the buyer, placed a 5-year, 5 percent fixed-rate acquisition loan with Aetna Life Insurance Co.
SAN LEANDRO, CALIF. — Cassidy Turley BT Commercial has brokered the $9.33 million sale of an almost 262,000-square-foot multi-tenant industrial facility located at 2048-2050 Williams Street in San Leandro. The buyer, 2050 Williams LLC dba U.S. Superior Stone and Tile, will occupy approximately 137,580 square feet of the property; the remainder of the facility, which is situated just off Doolittle Drive about a mile south of the Oakland Airport, is leased long-term to Sitcom Furniture. Cassidy Turley BT Commercial’s Jay Hagglund and Paul Beckwith represented the seller, 2050 San Leandro Partners, in the transaction, and John Loh and Jillian Loh of Loh Realty & Investments represented the buyer.
BOLINGBROOK, ILL. — The Chicago office of Tremont Realty Capital has arranged $8.6 million in financing for Crossroads Parkway, an industrial property in Bolingbrook. The 269,000-square-foot property was 56 percent occupied by one tenant at the time of closing. Michael Hart of Tremont arranged the loan, which was funded through a pension advisory lender. The 3-year loan provided for approximately 85 percent loan-to-cost. The borrower was a joint venture between Corum Real Estate and Equibase Capital Group.
GRAND RADIDS, MICH. — KRD LLC has purchased the Permalife Building, which is located at 2310 Breton Industrial Dr. in Grand Rapids. Byron Acquisitions/Chemical Bank sold the 53,000-square-foot industrial property for an undisclosed price. Chad Versluis of NAI West Michigan represented both parties in the transaction.
NORTH KANSAS CITY, MO., AND LAWRENCE, KAN. — Grubb & Ellis|The Winbury Group has brokered two industrial sales in Missouri and Lawrence. In the first transaction, Summers Holdings LLC acquired 42,600 square feet of industrial space at 110 W. 14th Ave. in North Kansas City. John Delzer of Grubb & Ellis represented the buyer; Bill Hershewe of Hershewe Real Estate Co. represented the seller, J2 Building Development, in the transaction. In the second deal, Mid-American Investments sold 10,200 square feet of industrial space at 1837 East 1450 Road in Lawrence to Ryan and Jennifer Schurle. Kelvin Heck of Grubb & Ellis represented the seller in the transaction. The acquisition prices of both transactions were not released.