SIMI VALLEY, CALIF. — Colliers International has completed the $11.42 million sale of a two-building, office and industrial property located at 2900-2950 Madera Rd. in Simi Valley. Buyer Kingsbridge International, an importer/wholesaler of housewares and giftwares, will operate its business from the 135,683-square-foot distribution building and will lease the 72,810-square-foot office building back to the seller, Bank of America. Colliers’ John DeGrinis, Patrick DuRoss and Jeff Abraham represented the buyer in the transaction; the seller was represented by Cushman & Wakefield.
Industrial
LAS CRUCES, N.M. — Steinborn/TCN Commercial Real Estate has brokered a 182,000-square-foot industrial lease in the West Mesa Industrial Park in Las Cruces. Alaska Structures’ 5-year lease at the Class A manufacturing plant includes a purchase option. Steinborn/TCN’s John Hummer and Grady Oxford represented the owner, REA Magnet Wire Co., and tenant, respectively.
O’FALLON, MO. — LK Drive LLC has completed the disposition of a 77,000-square-foot industrial property, which is located at 3801 Lloyd King Dr. in O’Fallon. Boston-based STAG GI Investment Holdings purchased the building for an undisclosed price. Herndon Products currently occupies the building. David Gannon of NAI DESCO represented the seller in the transaction.
HOUSTON — SSA Marine has leased 251,600 square feet of warehouse space from an undisclosed landlord in Houston. The space is located at 8905 Spikewood Drive. CB Richard Ellis' Bill Rudolf, Gray Gilbert and Jim Stark represented SSA Marine. D.R. David of Warehouse Associates represented the landlord.
CARROLLTON — Cobalt Capital Partners has leased 52,468 square feet of industrial space to PAC. The property is located at 1701 Vantage Drive, Suite 100, in Carrollton. Ken Wesson and Adam Graham of Lee & Associates represented Cobalt. Jones Lang LaSalle's Forshey Hoobler represented the tenant.
KNOX COUNTY, TENN. — RLR Investments has sold the 113,000-square-foot R&L manufacturing facility to Dew Properties for an undisclosed amount. The property is located in Knox County's Forks of the River Industrial Park. Baker Realty Co. represented the seller.
STERLING, VA. — First Potomac Realty Trust has broken ground on a 56,900-square-foot flex building in the 495,000-square-foot Sterling Park Business Center off Route 28 in Sterling. MSI Worldwide Mail will occupy 24,200 square feet in the property, which is 43 percent pre-leased. Gaithersburg, Md.-based DVA Architects designed the project to sustainable standards.
LAKELAND, FLA. — DBM Associates has purchased a 72,206-square-foot manufacturing facility from Star East Corp. for $3 million. The 15-year-old property is located on 12 acres at 2655 Old Tampa Highway in Lakeland. Steinbauer Associates' Jim Steinbauer represented the buyer in the transaction. Colliers International's William Parke, Dee Seymour and Edward Miller represented the seller.
FORT WAYNE, IND. — Towne Investments has acquired a vacant 60,000-square-foot industrial property in Fort Wayne. Additionally, the company has inked a long-term lease for the entire building with Stonhard, a division of RPM International. The property is located in close proximity to the Fort Wayne International Airport along the Interstate 69 Corridor. Towne Investments plans to redevelop the property to accommodate the tenant’s needs. Steve Zacher of The Zacher Company represented the undisclosed seller in the transaction. The acquisition price was not released. Towne Investments is the trade name under which Zilber Ltd. markets its commercial investment portfolio.
HOUSTON — Overseas Trading Inc. has signed a 66,000-square-foot lease renewal with the Tuffli Cos. for warehouse space in Houston. The property is located at 1800 South St. NAI Houston's Brad Marnitz represented the tenant. B. Kelley Parker, III, John Littman and Coe Parker of Cushman & Wakefield of Texas represented the landlord.