TOPEKA, KAN. — Monmouth Real Estate Investment Corp. has acquired a 40,000-square-foot industrial building in Topeka for $4.1 million. The property is located within Forbes Field Industrial Park at 6700 S.W. Topeka Blvd. It was constructed in 2006 as a build-to-suit for GE Commercial Finance Business Property Corp., the seller in the transaction. Coca-Cola Enterprises occupies the building under a triple-net lease agreement through 2021. The building is subject to a ground lease with Metropolitan Topeka Airport Authority. Darren Sides of Porthaven Partners represented Monmouth in the purchase.
BRIDGEWATER, N.J. — Basking Ridge, N.J.-based Coldwell Banker Commercial Feist & Feist has negotiated the sale of a three-building, 100,000-square-foot industrial complex located in Bridgewater for $5.4 million. The complex is situated on more than 13 acres at 81 Chimney Rock Rd. and is currently undergoing a multi-million renovation. The buyer is Peter Chesson of Chesson Management, who is also the owner of Barker Bus Co. and plans to relocate the company to a portion of the facility. Peter Wisniewski of Feist & Feist represented the buyer. The seller was Jacksonville, Fla.-based Braddock Realty.
WILMER, TEXAS — US Industrial REIT II, an affiliate of USAA Real Estate Co., has leased 286,000 square feet of industrial space at I-45 Tradeport 1 to an undisclosed tenant. The distribution facility, which totals 520,000 square feet, is located at 101 Sunridge Blvd. in Wilmer. Amenities include 47 dock doors, an ESFR sprinkler system, 44 trailer positions with expansion room, 140 truck courts and perimeter security fencing capabilities. Gary Collett, Dan Cook, Mark Becker and Ashley Pope of Cushman & Wakefield are providing brokerage services for the remaining 234,000 square feet of the facility.
HOUSTON — Clay Pritchett and Troy Collins of Holt Lunsford Commercial have completed the sale of an 18,150-square-foot office/warehouse facility in Houston. The 2.34-acre property is located at 3625 Jensen Dr. Pritchett and Collins represented the seller, Rosemary Crawford. Jesse Cantu of Realty Associates represented the buyer, Scott Ferguson.
GLENDALE AND MILWAUKEE, WIS. — Milwaukee-based Inland Cos. has completed two Wisconsin industrial leases. First, Bentley World Packaging leased 50,400 square feet of warehouse space within Glendale Commerce Center, which is located at 330 W. Olive St. in Glendale. Steve Sewart, Jim Larkin and Tom Shepherd of Inland Cos. arranged the deal. In the second transaction, Illco Inc. leased 13,057 square feet of warehouse space at Stadium Business Park I, which is located at 3930 W. Burnham St. in Milwaukee. Shepherd and Stewart brokered the deal. The landlords in both transactions were not disclosed.
ARVERNE, N.Y. — Newell Funding has disposed of a 32,000-square-foot commercial building located in Arverne. The building is situated at 72-11 Amstel Blvd. and is occupied by the City of New York Sanitation Department, which will soon vacate the property. The buyer is Inwood, New York-based All Transit. Frank Rao and Michael Rao of N.Y. Commercial Realty Group represented the seller, and Brian Pinnola and Joseph Maffia of NAI Long Island represented the buyer. The acquisition price was not disclosed.
NEW YORK CITY — Marcus & Millichap has arranged the sale of a two-building, 10,100-square-foot warehouse property located in the Sunset Park neighborhood of Brooklyn, New York City, for $1.9 million. The buildings are located at 5502 and 5504 Third Ave. Dolly Amigon and Jon Taubes of Marcus & Millichap's Brooklyn office represented the seller and the buyer, both private investors. The property traded at a 4.45 percent cap rate.
GARLAND, TEXAS — TIG Real Estate Services has brokered the acquisition of a 43,000-square-foot warehouse located at 2747 Oakland Ave. in Garland. The buyer was Kingsley Industrial and the seller was Northfield Properties. Michael Grant and Ryan Wolcott of TIG handled negotiations, with Chris Stout of Bradford representing the owner.
VICTORVILLE, CALIF. — Plymouth, Mich.-based Plastipak Packaging Inc., a manufacturer of plastic packaging containers, has leased 231,185 square feet of industrial space at Southern California Logistics Centre (SCLC), a 2,500-acre commercial and industrial complex in Victorville. The company plans to use the space at 13415 Sabre to manufacture and distribute plastic bottles. The cross-docked facility features 32-foot clear ceiling heights, ESFR sprinklers, 112 dock-high loading doors, 147 truck trailer parking spaces and 164 automobile parking spaces with 185-foot wall concrete truck yards. SCLC is owned and master developed by Stirling Capital Investments.
PENDERGRASS, GA., AND ATLANTA — First Industrial Realty Trust has leased 106,000 square feet in its 850,000-square-foot distribution center to Torrance, Calif.-based Kubota Tractor Corp. The property is located at 596 Bonnie Valentine Way in Pendergrass. The company will store equipment and distribute tractors from the facility. Kurt Unger and Craig Viergever of Atlanta-based Bryant Commercial Real Estate Partners, along with Todd Barton and Greg Haynes of CB Richard Ellis’ Atlanta office, brokered the lease. First Industrial has also leased 21,000 square feet of warehouse space to MasTec North America. The property, which is located on Southmeadow Parkway in Atlanta, is now fully leased. Atlanta-based NAI Brannen/Goddard’s Mike Powell and Wilson Covington, Bob Stephens and Randall Bryan of King Realty of Atlanta brokered the lease.