BLAINE, MINN. — Ryan Companies Inc. has completed the construction of a 25,011-square-foot building for Rasmussen College in Blaine. The $4.8 million project was designed by Mankato, Minn.-based Paulsen Architects. Slated to open this summer, the building will be part of Blaine Preserve Park.
BOLINGBROOK, ILL. — Jet Lithocolor Inc. has leased 94,118 square feet at 605 Territorial Drive, a 182,400-square-foot warehouse/manufacturing building within Remington Lakes Corporate Center in Bolingbrook. The facility features 30-foot clear ceiling heights, an ESFR sprinkler system, full climate control, concrete floors, 28 docks with 130-foot minimum truck court depths and 49-foot by 40-foot bays. Jason West of Cushman & Wakefield of Illinois represented the tenant; Traci Buckingham and Grant Glattly of CB Richard Ellis represented the owner, BPG Properties Ltd., in the transaction. Terms of the lease were not disclosed.
KANSAS CITY, KAN. — Tritz Pallet has leased an industrial property in Kansas City for an undisclosed price. Located at 30 Funston, the property offers 74,660 square feet of space. Prime Investments is the owner. Paul Neal of Grindstone Industrial Properties brokered the transaction. Terms of the lease were not released.
OXNARD, CALIF. — Colliers International has brokered the $5.15 million sale of a 56,502-square-foot industrial building located at 1600 Pacific Ave. in Oxnard. Built in 1998, the property is situated within the Channel Islands Business Center, a 211-acre industrial complex that fronts Oxnard Boulevard. Colliers’ Patrick DuRoss, John DeGrinis and Jeff Abraham represented the seller, Marcus Adams Properties, in the transaction, and Joshua Linn and Gordon Mace of Beitler Commercial represented the buyer, Santa Barbara Design Studio.
CHARLOTTE, N.C. — Norcross, Ga.-based Pax Industries has leased 105,625 square feet of warehouse space from TA Associates Realty in Charlotte. The 436,000-square-foot facility is located at 11701 Goodrich Drive. Adam Eason of Trinity Partners represented the tenant, and the firm's Bill Wood and Tony Brennan represented the landlord.
BELTSVILLE, MD. — Vocus, a public relations and corporate communications software provider, has signed a 10-year lease with First Potomac Realty Trust in Beltsville. The tenant will occupy a 93,000-square-foot building at 12051 Indian Creek Court in Beltsville, making the property its new headquarters. Brian Liss of UGL Equis' Washington, D.C., office represented the tenant. Jeb Boland and Michele Salvino served as in-house representation for First Potomac Realty Trust.
HOUSTON — Don Smith of Kinghorn, Driver, Hough & Co. has secured a $2.1 million loan for a 27,000-square-foot warehouse in Houston. Thrivent Financial for Lutherans financed the loan.
LEWISVILLE, TEXAS — Ace Manor Property Management has purchased a 10,000-square-foot industrial building from a private seller for an undisclosed amount. The tenant will use the property, which is located at 507 Bennett Lane in Lewisville, as an auto wholesale warehouse. The 13-year-old property includes 7,600 square feet of warehouse space and 2,400 square feet of office space. Colliers International's Matt Thompson represented the buyer. Dan Spika of Henry S. Miller Brokerage represented the seller.
HENDERSON, NEV. — NAI Las Vegas has represented Bailes Family Trust in its $5.9 million acquisition of 33,724 square feet of industrial space located at 1710 Whitney Mesa in Henderson. NAI’s Ron Berg, Jeff Berg, Mica Berg and Eric Tumbleson represented the buyer in the single-tenant investment transaction, and the seller, AML Development II, represented itself.
INDIANA — Three Indiana industrial properties operated by Meridian Automotive Systems totaling 790,000 square feet have been sold to a private party for an undisclosed price. The sale represents the liquidation of Meridian's significant property assets; the company initiated a Chapter 7 bankruptcy proceeding last August. The sale includes a 354,000-square-foot warehouse, located at 501 Northridge Drive in Shelbyville; a 233,000-square-foot property, located at 14123 Roth Road in Grabill; and a 203,000-square-foot building, located at 1890 Riverfork Drive in Huntington. Jim Fasone and Brian Dell of Summit Realty Group represented the buyer. BND Commercial's Karl Behrens and Signature Associates' Brad Viergever represented the owners of the Grabill and Huntington properties. Summit and Signature represented the owner of the Shelbyville property.
