PLANO, TEXAS — Riken Vitamin Co. has signed a 12,653-square-foot lease in Plano. The Japanese producer of food additives and vitamins is relocating from California to R&D at Legacy, a 374,275-square-foot flex development. Doug Carignan and Landon Brune of CBRE represented the tenant in the lease negotiations. Chase Lopez, James Mantzuranis and Sam Bass of Stream Realty Partners represented the landlord, BH Properties.
SOUTH RIVER, N.J. — Locally based developer CrownPoint Group has broken ground on an 854-unit self-storage facility in South River, located roughly midway between Newark and Trenton. The three-story facility at 696 Old Bridge Turnpike will span 105,487 net rentable square feet of climate-controlled space. According to NJ.com, the site formerly housed a car dealership, and the facility will have an average unit size of 90 square feet and will include 15 exterior access units. The local publication also reports that JLL arranged construction financing for the project. ExtraSpace Storage will operate the facility, which is expected to be complete before the end of the year.
PHILADELPHIA — Marcus & Millichap has brokered the sale of a 33,762-square-foot industrial building in northeast Philadelphia. Built in 2004 and renovated in 2012, the single-tenant facility at 10049 Sandmeyer Lane features a clear height of 20 feet and was fully leased at the time of sale. Andre Fannin and Brian Higgins of Marcus & Millichap represented the seller and occupant, Dixon-Shane LLC, a subsidiary of Amneal Pharmaceuticals, in the transaction. The buyer was Faropoint.
BENSENVILLE, ILL. — Colliers has negotiated a 134,360-square-foot industrial lease in Bensenville on behalf of the owner, Hamilton Partners. The tenant, Consolidated Electrical Distributors (CED), has leased space at 710 Foster Ave. and will move its operations from 2801 Busse Road in Elk Grove Village. The new, standalone building was completed in January. Hamilton Partners demolished five smaller buildings to make way for the project. The developer plans to build office space per the tenant’s specifications to complement the building, which features a clear height of 32 feet, 26 exterior docks and parking for 112 cars. Tom Rodeno, Matthew Stauber and Patrick Turner of Colliers represented the landlord, while Adam Stokes of NAI Hiffman represented the tenant.
PHILADELPHIA — Nuclear science company TerraPower Isotopes (TPI) has unveiled a $450 million investment plan to establish a radioisotope manufacturing facility in Philadelphia that will support the development of cancer-fighting drugs. The Commonwealth of Pennsylvania is investing $10 million for the project, which is expected to create 225 new full-time jobs over the next three years. TPI will lease a 250,000-square-foot build-to-suit facility within The Bellwether District, a 1,300-acre industrial campus in South Philadelphia that is the redevelopment of the former Philadelphia Energy Solutions refinery. TPI will utilize the flagship East Coast facility to produce actinium-225 for use in the development of cancer treatments. TPI received a funding proposal from the Pennsylvania Department of Community and Economic Development for a $7 million grant through the PA SITES Program, and a $3 million Pennsylvania First grant. The company is also eligible to apply for the department’s Manufacturing Tax Credit and the Qualified Manufacturing and Innovation Reinvestment Deduction programs. According to TPI, the development of an East Coast manufacturing facility, along with expanding capacity in its existing Everett, Wash., facility, will increase production capacity 20-fold of actinium-225. Real estate investment company HRP Group, formerly known as Hilco Redevelopment Partners, is developing The …
CYPRESS, TEXAS — Enchanted Rock has signed a 407,302-square-foot industrial lease in the northwestern Houston metro of Cypress. The power generation company and provider of clean energy solutions will occupy the entirety of the building at 18501 Mound Road, the first building to be delivered within Prologis’ 350-acre Legacy Point development. Building features include a cross-dock configuration, 36-foot clear heights and “abundant” car and trailer parking. Robert Alinger and Wes Williams of Colliers represented Prologis in the lease negotiations. Enchanted Rock was self-represented.
HOUSTON — JLL has negotiated the sale of the Northwest Houston Manufacturing Portfolio, a collection of four single-tenant industrial buildings totaling 127,626 square feet. The buildings were all constructed between 2000 and 2005 and feature an average clear height of 24.5 feet. Trent Agnew, Charles Strauss and Lance Young of JLL represented the undisclosed seller in the transaction. Campbell Roche, Jarrod McCabe and Jack Britton, also with JJLL, arranged acquisition financing through Washington Federal Bank on behalf of the buyer, MoxieBridge. The portfolio was 100 percent leased at the time of sale to a roster of tenants with a weighted average remaining lease term of 3.8 years.
WILMINGTON, MASS. — Regional brokerage firm Hunneman has negotiated a 42,060-square-foot lease at a flex building in the northern Boston suburb of Wilmington. The tenant is Goddard Technologies, a developer of medical devices and robotics, and the space is located within the 123,000-square-foot building at 205 Lowell Street, which can support both office and lab uses. Chris Curley, Mike Allen and Ken Oppenheim of Hunneman, along with internal agent James McManus, represented the landlord, Howland Development, in the lease negotiations.
WINDSOR, COLO. — Prospect Station LLC, as part of a 1031 exchange, has completed the sale of a Class A industrial property located at 7365 Greendale Road in Windsor. NMH Greendale LLC acquired the building for $11.2 million in an off-market transaction. Travis Ackerman of Cushman & Wakefield represented the seller, while Standard Commercial’s Ian Ciagstone represented the buyer in the deal. The 39,000-square-foot building features two overhead grade doors, a dock-high door, 20- to 24-foot clear heights, 3-phase 1,200-amp power and a 9,000-square-foot mezzanine. Additionally, the property offers ample parking, efficient circulation, sprinklers throughout and light industrial zoning.
HOUSTON — JLL has arranged a 146,442-square-foot, full-building industrial lease in North Houston. According to LoopNet Inc., the four-building manufacturing complex at 12800 Aldine Westfield Road was built in 1979 and features 21- to 25-foot clear heights, eight loading doors, five grade-level doors and 14,153 square feet of office space. The site also has about 10 acres that can potentially be used for industrial outdoor storage, per LoopNet. Jordan Raney and Jarret Venghaus of JLL represented the tenant, Houston-based pipe fabricator Constellation Industries, in the lease negotiations. John Ferruzzo and Jack Ferruzzo of KBC Advisors represented the landlord, GSK Industrial. The deal is expected to double Constellation’s production capacity and to create about 120 new jobs.