HOUSTON — American Realty Capital Trust expects to acquire a Houston freight facility net leased to FedEx Freight this month for approximately $30.9 million. The building totals 152,640 square feet and is located in the Satsuma Station Industrial Park. The primary lease term is 15 years and provides for up to two successive 5-year extensions. The seller is PinPoint Commercial. The first-mortgage loan will be financed by a major European bank, which will represent about 50 percent of the total purchase price, with American Realty providing the remaining capital.
LEBEC, CALIF. — Brown Shoe Company Inc. has completed the development of its 350,000-square-foot Famous Footwear Distribution Center, which is located within Tejon Industrial Complex (TIC) in Lebec. According to Brown Shoe’s chairman and CEO, the new facility has an annual capacity of 32 million pairs of shoes and expected inventory turns of 17 to 22 times per year. The facility will serve all Famous Footwear stores located west of the Rocky Mountains and direct shipping to customers in that geographic region. Brown Shoe partnered with Fortna Inc., a supply chain strategy, design and implementation firm, to create a state-of-the-art logistics system for the new center. The facility features a cross belt unit sortation system, multiple sliding shoe sorters, a high-density storage and picking module, new warehouse management software and FortnaWCS, the Fortna warehouse control system. Clayco Inc., a St. Louis-based corporate real estate design-build and construction firm, owns the property, which is being leased to Brown Shoe.
ONTARIO, CALIF. — Sears Holdings Corp. has renewed its lease with Dedeaux Properties LLC for a facility in Ontario. Sears Holdings Corp. currently leases an approximately 823,000-square-foot distribution facility, which is part of the 1.3 million-square-foot Dedeaux Inland Empire Park. The value of the lease was not disclosed.
NEW YORK CITY — Massey Knakal Realty Services has brokered two all-cash transactions in New York City that included a one-story garage located at 1341 Garrison Ave. and a 25,000-square-foot warehouse located at 585 Wales Ave. The garage sale was valued at $1.6 million and the warehouse sale was valued at $1.3 million. The garage is approximately 15,155 square feet and was renovated in the mid-1990s. It features 20-foot clear ceiling heights, two garage doors and 750 square feet of office space. The 25,000-square-foot warehouse contains five stories and a basement, which was formerly used as an office/warehouse space. Nick Burns of Massey Knakal was the sole broker in both transactions.
TEMPLE, TEXAS — Sacramento, Calif.-based Panattoni Construction, in conjunction with Atlanta-based GRIFFCO Design/Build, has signed a contract with retailer H-E-B to construct a new 457,000-square-foot warehouse/distribution facility in Temple. The new facility will be located at 4750 Wendland Rd. It will feature a three-story office space, in addition to the distribution component. The project architect is Atlanta-based Appleby + Lacetti Architects. The groundbreaking has already occurred, and completion is slated for May 2010.
COMMERCE, CALIF. — Jeff Bethel and Peter Bacci of Lee & Associates represented Cook Family Trust in the $3 million acquisition of a 30,000-square-foot industrial building located in Commerce. Located at 6099 Triangle Dr., the property will house the business operations of Kaslen Textiles, a distributor of upholstery and drapery fabrics. Tom O’Loughlin, also of Lee & Associates, represented the seller, Chang Triangle LLC, in the transaction.
COLUMBIA, MD. — Chicago-based First Industrial Realty Trust has sold a 71,578-square-foot warehouse to Baltimore-based System Source for $7.12 million. System source has leased 42,745 square feet of space in the property, which is located at 332 Clubhouse Lane in Columbia, for the past 7 years. David Paulson of Manekin’s Columbia office represented System Source.
ST. LOUIS – Missouri-based Duke Realty Corporation has leased 182,483 square feet of industrial space to Fiserv, a provider of business critical communications, marketing services and plastic card production services. The space is at Duke’s Lindbergh Distribution Center in Hazelwood, Mo., which is northwest of St. Louis. The center, which opened in 2007, has 32-foot clear height ceilings, dock and drive-in loading, and abundant parking. The property is located at the corner of James S. McDonnell Boulevard and North Lindbergh Boulevard.
HAMMOND, IND. – Jacobs Engineering, which recently won a contract to work on the expansion of an Indiana BP Amoco refinery, has leased 66,000 square feet in a deal orchestrated by Chicago-based Paine/Wetzel. Jacobs will occupy the entire industrial building at 3232 Calumet Ave. in Hammond, which is located near both Interstate 90 and the BP Amoco refinery.
HONOLULU — A local partnership, which includes owners of Ba-Le Restaurants and Island Flooring Company Inc., has acquired 900 N. Nimitz Highway in Honolulu for $20 million. The buyers will utilize portions of the property for their respective businesses. The two-story property is situated on four acres of fee-simple industrial mixed-use zoned land at the corner of Nimitz Highway and Alakawa Street in Honolulu’s Iwilei area. Scott Mitchell and Guy Kidder of Colliers Monroe Friedlander represented the seller, Weyerhaeuser, in the transaction.