Industrial

BUFFALO GROVE, ILL. — Chicago-based Bridge Development Partners and San Francisco-based McMorgan & Company have leased 196,850 square feet of space within its newly completed speculative Aptakisic Creek Corporate Park to Hyper Microsystems Inc. The lease is for space within two buildings located at 1700 and 1701 Leider Lane in Buffalo Grove. Hyper Microsystems, which is a leading distributor and manufacturer of high-performance computer storage devices, leased an entire 146,850-square-foot facility, as well as 50,000 square feet within an adjacent 188,215-square-foot building. John Hauser and Charlie DesRosiers of Cushman & Wakefield represented Bridge Development in the transaction; Eric Fischer of NAI Hiffman negotiated the lease on behalf of the tenant. The buildings feature 30-foot clear ceiling heights and 16 loading docks each.

FacebookTwitterLinkedinEmail

SUDBURY, MASS. — The Boston office of NorthMarq Capital has arranged $2 million for 33 Union Avenue, a 117,000-square-foot industrial building located in Sudbury. The property comprises 87,000 square feet of distribution space and 30,000 square feet of office space. It is currently leased to Staples Contract & Commercial. NorthMarq’s Joseph Hegenbart originated the loan, which was provided by Digital Federal Credit Union. The borrower was EB Realty. Terms of the loan were not disclosed.

FacebookTwitterLinkedinEmail

HOUSTON — Malvern, Pa.-based Liberty Property Trust has received the Silver level of LEED-Core & Shell certification for Central Green Building #9, a 63,600-square-foot industrial facility located at 16680 Central Green Blvd. within the company’s Central Green Business Park in Houston. Constructed by Cadence McShane Construction Co., the project includes such sustainable elements as the use of recycled construction materials, a construction waste recycling program, the incorporation of green-certified wood, low-flow water fixtures, preferred parking for fuel-efficient vehicles and water-efficient landscaping. The building, which is occupied by locally based Crane Worldwide, includes a tilt-wall panel exterior, 24-foot clear ceiling heights, 22 exterior truck docks and 133 parking spaces. The project architect was Seeberger + Associates.

FacebookTwitterLinkedinEmail

FORT WORTH, TEXAS — Hillwood Properties has leased 292,500 square feet of industrial space within Alliance Global Logistics Hub in Fort Worth. The space, which is located within the 562,500-square-foot Westport 20 building, will be occupied by Alliance Brokers Inc., an affiliate of Trans-Trade. The building is located in the newly created Alliance Heavy-Load Container Area, which provides heavy-load logistics support for the adjacent BNSF Intermodal Facility. The Westport 20 building is one of five speculative buildings totaling 1.8 million square feet that were completed between 2007 and 2008. Alliance Global Logistics Hub is part of the 17,000-acre, 29 million-square-foot AllianceTexas development.

FacebookTwitterLinkedinEmail

MORENO VALLEY, CALIF. — Springfield, Mo.-based O’Reilly Automotive Inc. has acquired a 408,000-square-foot distribution center, which is located at 24520 San Michele Ave. within San Michele Distribution Center in Moreno Valley. The property sold for $25 million. The buyer plans to house a state-of-the-art conveyor system in the space. Jeff Hubbard and Scott Ostlund of Lee & Associates represented the seller, Springfield-based Ozark Automotive Distributors, in the transaction.

FacebookTwitterLinkedinEmail

BARTLETT, ILL. — FCL Builders has completed the new 85,760-square-foot distribution center for Get Fresh Produce at 1441 Brewster Creek Blvd. in Bartlett. The facility will be used for the distribution of produce and dairy products. It features six coolers totaling 21,600 square feet, an 18,600-square-foot cold storage dock, a 5,400-square-foot freezer, 14,905 square feet of office space and a 2,400-square-foot maintenance office. In addition, the building provides 17,000 square feet for additional expansion. The project has received LEED certification and is the first building in Bartlett to receive the designation. Sustainable features include low-flow water fixtures, a reflective roof, increased natural light with the building, drought-resistant landscaping, and the use of locally sourced and recycled construction materials. The project architect was Capital Design Ltd.

FacebookTwitterLinkedinEmail

PISCATAWAY, N.J. — Woodbridge, N.J.-based The Schultz Organization has brokered the sale of an 87,701-square-foot warehouse located at 239 Old New Brunswick Rd. in Piscataway. Situated on approximately 5 acres, the building features 24-foot clear ceiling heights, one drive-in bay, seven loading docks, two floors of office space that total 15,584 square feet and a new roof. Steven Schultz and Tony Georgiev of The Schultz Organization represented the undisclosed seller. The buyer and the acquisition price were also not disclosed.

FacebookTwitterLinkedinEmail

DUNCAN, S.C. — Entertainment Publications a/k/a Sally Foster has renewed its 197,200-square-foot industrial lease with Malvern, Pa.-based Liberty Property Trust. The warehouse is located at 285 Parkway East in Duncan. Terms of the deal were not released. Liberty was represented by Bob Shaw of Columbia, S.C.-based Colliers Keenan, and Bob Barrineau of CB Richard Ellis’ Charleston, S.C., office represented the tenant.

FacebookTwitterLinkedinEmail

CHICAGO AND SOUTH HOLLAND, ILL. — Chicago-based Paine/Wetzel • ONCOR International has brokered two Chicagoland industrial sales totaling 135,900 square feet. In the first transaction the firm completed the sale of a 121,000-square-foot industrial building, located at 2180 South Racine in Chicago, for more than $5 million. The building is partially leased and is situated on a 167,000-square-foot site, with room for expansion. Edward Wabick of Paine/Wetzel represented the buyer, ASB Acquisitions, which plans to redevelop the building into smaller spaces targeting users from 5,000 to 20,000 square feet. Paine/Wetzel’s Rodger Chenore, Albert Schulman and Jeffrey Girling represented the seller, 2180 S. Racine LLC. Additionally, Paine/Wetzel brokered the sale of a 14,900-square-foot flex building located at 16910 S. Westview Ave. in South Holland. The property includes 2,000 square feet of office space, 16-foot clear ceiling heights, an enclosed dock, an exterior dock, a drive-in door and a 50-space parking lot. The property was acquired by Thornton Township for $1.5 million; the township plans to use the building as its headquarters. Paine/Wetzel’s Lou DeSanto represented the seller, Frain Group. The buyer was represented by Ted Lagestee of Lagestee-Mulder Co.

FacebookTwitterLinkedinEmail

JOHNSTON, R.I. — Marcus & Millichap has completed the $15 million sale of a 144,187-square-foot distribution center in Johnston. Located at Lakeside Commerce Center, directly off Interstate 295, the facility was built-to-suit for FedEx Ground in 2008. Situated on 22+ acres, the facility can be expanded up to 27,720 square feet. Glen Kunofsky and Jason Kauffman of Marcus & Millichap’s Manhattan office represented both the buyer and seller in the transaction. Steve Witten of Marcus & Millichap assisted locally. The property’s double-net lease commenced on June 1, 2008 and has a 10-year term that is set to expire in May 2018. FedEx has the option of extended the lease with two 5-year renewal options. The closing cap rate for the sale was 7.5 percent.

FacebookTwitterLinkedinEmail