CHICAGO — Locally based Matanky Realty Group has brokered the sale of a 6,044-square-foot, single-story warehouse building located at 2920 North Elston Ave. in Chicago. Both the buyer and seller were not disclosed. The property was listed at $700,000. Malik Elliot and Terri Cox of Matanky Realty Group represented the seller; Kathleen Cordes of Prudential Preferred Properties represented the buyer in the transaction.
CARROLLTON, TEXAS — The Dallas/Fort Worth office of Lee & Associates has brokered the sale of a 91,257-square-foot industrial building located at 1432 Macarthur Blvd. in Carrollton. Lee & Associates’ Greg Nelson and Ken Wesson represented the seller, Fastenal Co.; the buyer, RTC Properties, was represented by Brian Pafford and Kevin Santaularia of Dallas-based Bradford Cos. The acquisition price was not disclosed.
BOLINGBROOK, ILL. — Saratoga Food Specialties has signed a lease for 150,249 square feet of industrial space located at 771 W. Crossroads Parkway in Bolingbrook. Corum Real Estate Group owns the 269,662-square-foot facility that was recently completed within the Crossroads Lakes Business Park. The transaction was valued at approximately $7 million. The pre-cast building features 30-foot clear ceiling heights, an ESFR sprinkler system and eight exterior docks. Saratoga Food Specialties’ space includes a 15,000-square-foot office component and a 20,000-square-foot production/lab area. The company, which is relocating from its former facility in Elmhurst, Ill., is expected to take occupancy at the building this spring. David Bercu in the Industrial Services Group of Colliers Bennett & Kahnweiler represented Corum Real Estate Group; John Schwarze of Epic/Savage Realty Partners represented Saratoga Specialties in negotiations. Additional terms of the lease were not disclosed.
SAN DIEGO — SBDG Investments LLC, which specializes in hospitality textile solutions, has purchased a 9,510-square-foot industrial building. The property is located at 4787 Cardin St. in the Kearny Mesa submarket of San Diego. Hanover Investment Group Limited Partnership sold the property for $1.9 million. Bryce Aberg, Brant Aberg and Sam Wasserstein of Grubb & Ellis|BRE Commercial represented the buyer; Glen Volk and Randy LaChance of Voit Commercial Brokerage represented the seller in the transaction.
BALTIMORE — Atlanta-based ARCO Design/Build has commenced construction on a 155,000-square-foot office and cold storage distribution center for Merchants Terminal Corp. The property is located in Baltimore adjacent to the city’s port. Delivery is expected this summer. Roswell, Ga.-based Randall-Paulson Architects designed the property.
SALISBURY, MASS. — Portsmouth, N.H.-based The Kane Company has completed the sale of a 21,000-square-foot industrial building located within Salisbury Industrial Park at 5 Fanaras Dr. in Salisbury. The buyer, ProDev Inc., had been previously headquartered in Seabrook, N.H., but was looking to expand. Anthony Triglione of The Kane Company negotiated the off-market transaction between ProDev and the seller, Salisbury Industrial Park LLC. The acquisition price was not disclosed.
CHICAGO — The Chicago Department of Aviation has selected Maryland-based Aeroterm U.S. Inc. to serve as the master developer for more than 55 acres of land and 750,000 square feet of building space for cargo facilities located in the northeast area of Chicago’s O’Hare International Airport. The master plan for the multi-phased O’Hare Northeast Cargo project calls for the completion of four cargo processing facilities and airside aircraft parking spaces. New facilities are being completed in order to accommodate a larger generation of freighter aircraft. The overall development will include the construction of truck docks, employee parking areas, comprehensive security controls and an expansion of the existing northeast fuel farm. While the project will cost approximately $160 million to complete, the city of Chicago will receive $350 million from a 35-year ground lease. Additionally, the entire project is expected to bring more than 1,200 construction jobs and more than 2,000 permanent jobs to the city. Construction of the first phase of development is expected to begin by 2012. According to the Department of Aviation commissioner, the development will approximately double O’Hare International Airport’s cargo capacity.
BURR RIDGE, ILL. — On behalf of Wrightwood Capital, Cohen Financial has secured $4.4 million in refinancing for an industrial facility located at 161 Tower Dr. in Burr Ridge. Steve Roth and Steve Kundert of Cohen Financial originated the transaction for the 117,928-square-foot building. The company was able to secure fixed-rate, 60 percent loan-to-value financing from a Midwest-based regional bank. Additional terms of the loan were not disclosed.
LONG BEACH, CALIF. — New Trans Logistics has leased 76,666 square feet of industrial space at 6766 N. Paramount Blvd. in Long Beach. The lease is valued at $1 million. Brandon Carrillo of Charles Dunn Company brokered the transaction.
ORLANDO, FLA. — McDonald Development Group has sold two industrial buildings totaling 255,499 square feet to IDI for $17.2 million. The properties, CrownPointe Five and Six, are located in the CrownPointe Commerce Park in Orlando. The buildings are 71 percent occupied. Mike Davis of Cushman & Wakefield’s San Jose, Calif., office; Rick Brugge of the firm’s Tampa, Fla., office; and Lee Morris and Jared Bonshire of Cushman & Wakefield’s Orlando office represented the seller.