GLENDALE HEIGHTS, ILL. — CPA®:17, a publicly held non-traded REIT affiliate of investment firm W.P. Carey & Co., has purchased a cold storage facility located in Glendale Heights. The facility, which is fully occupied by Kronos Foods Inc., was acquired for approximately $15 million. Over the next 9 months, CPA®:17 plans to renovate the building into a state-of-the-art food production facility for Kronos. Upon completion of the project, Kronos will consolidate its Chicago operations into the new location.
THOROFARE, N.J. — Jackson Cross Partners (JCP) has brokered the sale of a 183,570-square-foot, cross-docked distribution building located at 117 Crown Point Rd. in Thorofare. Situated on 16.2 acres, the building features 32-foot clear ceiling heights and 60-foot by 54-foot column spacing. JCP’s Lou Battagliese, Jim Young and Harry McKenna represented the seller, Exeter Property Group. The buyer was Albert Tire Co., which is fitting up the recently constructed property to accommodate its new headquarters and warehouse operations. The company is currently located in Pennsauken, N.J.
LA PORTE, TEXAS — Overland Distribution has signed a lease for 103,184 square feet of industrial space at Port Crossing Corporate Center in La Porte. The building is located at 1701 S. 16th St.; it features 30-foot clear ceiling heights, 60 exterior docks, significant trailer storage and rail access. Bill Gold and Jeff Everist of CB Richard Ellis represented the landlord, a joint venture between National Property Holdings and ML Realty Partners. Greg Egan of LeaseSquareFeet.com represented Overland Distribution.
CHARLOTTE, N.C. — Cefla Group has purchased a 148,694-square-foot warehouse in Charlotte’s Northwoods Business Park from Warehouse Development Co. for an undisclosed amount. The buyer will move into the space, located at 6125 Harris Technology Blvd., after a renovation of the warehouse. Cefla will house the sales, manufacturing and distribution operations for its finishing and dental divisions in the property. Terry Brennan of Charlotte-based Trinity Partners represented the seller, and Delle Vedove served as in-house representation for Cefla.
ALTAMONTE SPRINGS, FLA. — JVD Construction has purchased a 110,000-square-foot Altamonte Springs warehouse from an undisclosed seller for $3.6 million. The property, located at 350 Anchor Rd., had been occupied by Water Bonnet and was being used as a production and distribution facility. David Murphy of CB Richard Ellis’ Orlando, Fla., office represented the seller, and Realty Executives Orlando’s Jamie DiSalvatore represented the buyer.
ELGIN, ILL. — Grubb & Ellis has represented Shorewood Properties in the completion of its four-building, 160,000-square-foot industrial development located on Scottsdale Court, off of Tollgate Road, in Elgin. Bruce Granger of Grubb & Ellis’ industrial group has secured interest from Northgate Technology Inc. for a 34,000-square-foot build-to-suit facility, which will be constructed at the park. Northgate is expected to take occupancy at the new facility this year. In 2000, Shorewood acquired the 17-acre site from Flender Corp., which is now part of Siemens Energy and Automation. With the final addition, the park will house four industrial buildings, including a 50,000-square-foot multi-tenant building; a 38,000-square-foot multi-tenant building; a 38,000-square-foot single-tenant building; and a 34,000-square-foot single-tenant building, which will be occupied by Northgate Technology. Additional tenants within the park include Owens Corning, Park Supply, ID Graphics, MPR Precision Molding Specialists and Argos Technologies Inc.
STOREY COUNTY, NEV. — Development Arts LLC has completed the construction of Building One of the 103-acre West America Commerce Center, which is located at 700 Milan Dr. in the Tahoe-Reno Industrial Center in Storey County. The 632,130-square-foot, cross-docked property features white TPO roofing, 30-foot clear ceiling heights, T5 lighting, 2 percent skylights, white-painted interior walls, 50-foot by 52-foot column spacing, 60-foot speed bays, 125 dock doors, parking for 314 cars and 207 trailers, and an ESFR fire-suppression system. The building can accommodate one to eight tenants. Additionally, the building is a LEED-registered project, with LEED-CS Silver Certification currently pending review.
BENSENVILLE, ILL. — The Victaulic Company has sold a 21,333-square-foot industrial facility located at 730 Thomas Dr. in the O’Hare submarket of Besenville. Bob’s Business has purchased the building for an undisclosed amount, and will use the new location for its distribution needs. The facility includes two loading docks and an extra .75 acres of land for possible expansion. Brian Colson and Eric Fischer of NAI Hiffman’s industrial services group represented the seller; Mike Goolsby of Jones Lang LaSalle represented the buyer in the transaction.
BILLERICA, MASS. — NorthMarq Capital has arranged $2.92 million in joint venture capital for the acquisition of two office/flex buildings located in Billerica. The properties are located at 261-267 Boston Rd.; they total 94,605 square feet and were constructed in 1985. Steve Bye of NorthMarq’s Denver regional office originated the financing on behalf of Hall Royce Investments.
POWAY, CALIF. — DEI LLC has acquired a 133,125-square-foot industrial building and 2.9 acres of land at 1400 Stowe Dr. in Poway. Hunter Douglas Inc. sold the property for $15 million. Barry Hendler, Matty Sundberg and Todd Murphy of Grubb & Ellis|BRE Commercial represented the buyer; Russ Sande and John Brady of CresaPartners represented the seller in the transaction. Additionally, the entire building has been leased to Cycle Express LLC, dba National Powersport Auctions. In the $6.6 million lease transaction, Hendler and Sundberg represented the landlord; Hendler, Murphy, Glenn Arnold and Bryce Aberg of Grubb & Ellis|BRE Commercial represented the lessee.