LEWISVILLE, TEXAS — Phoenix-based Opus West Corp. has signed two new leases totaling 73,500 square feet at 121 Lakepointe Crossing, an approximately 650,000-square-foot industrial facility located in Lewisville. Frisco, Texas-based Decorator’s Choice signed a 10-year lease for 45,300 square feet. The space will house offices, a showroom and a distribution center. In addition, Mustang Electric Supply signed a 5-year lease for 28,200 square feet of office and warehouse space, to be used as the base for the company’s growing Texas operations. Bob Hagewood, Blake Kendrick and Chris Jackson of Stream Realty Partners represented Opus in both lease deals. Andy Kampen of Banner Commercial represented Decorator’s Choice in its deal, and David Weatherington of Transwestern represented Mustang Electric Supply in its lease. Situated on 29 acres, 121 Lakepointe Crossing was developed by Opus in 2003. The two leases bring its occupancy up to 92 percent.
OAK CREEK, WIS. — Yaskawa Electric America has leased 107,152 square feet of industrial space within Oakwood Crossings Business Center I, which is located in Oak Creek. The 139,726-square-foot multi-tenant facility is within Rosemont, Ill.-based Opus North Corp.’s Oakwood Crossings Business Center. Situated on a 12.1-acre site, the building features 26-foot clear ceiling heights, two drive-in doors, 14 truck docks and parking for 172 cars, which is expandable to include a total of 280 parking spaces. In addition to general warehouse improvements, the build-out for Yaskawa Electric America includes 7,900 square feet of office space and 9,300 square feet of future lab space. The company will take occupancy at the facility in March. Bob Flood and Paul McBride of RFP Commercial brokered the long-term lease on behalf of Opus North. Additional terms of the lease were not disclosed.
JANESVILLE, WIS. — Coldwell Banker Commercial McGuire Mears & Associates has brokered the sale of a 35,000-square-foot industrial facility located at 525 E. Conde St. in Janesville. The building, which is occupied by Promax/Isuzu, was purchased for approximately $1 million. Barry Badertscher of Coldwell Banker represented the undisclosed buyer and seller in the transaction.
ONTARIO, CALIF. — LBSW LLC has purchased Airport Tech Center, a 47,345-square-foot multi-tenant industrial/office business park in Ontario. The transaction was valued at $5.6 million. The 80 percent-occupied center encompasses four buildings located at 59 S. Miliken Ave. and 4335, 4355 and 4405 E. Airport Dr. Douglas Wells of Penta Pacific Properties represented the buyer; Alan Pekarcik and Dan Vittone of Voit Commercial Brokerage represented the seller, Essex Realty Management, in the transaction.
CHICAGO — Los Angeles-based CB Richard Ellis has brokered the sale of a 788,089-square-foot industrial portfolio located primarily in Chicago. Boston-based Cabot Properties has purchased the 12-property portfolio from TIAA-CREF for an undisclosed amount. The acquisition includes 11 properties in Chicago totaling 676,898 square feet, as well as one 111,191-square-foot property in Baltimore. Jack Fraker, Josh McArtor and Conor Feeney of CB Richard Ellis marketed the property on behalf of TIAA-CREF.
WAWAYANDA, N.Y. — CB Richard Ellis (CBRE) has completed the sale of an approximately 62-acre, shovel-ready development site located at Pine Lane Business Center in Wawayanda. The parcel was acquired by Medline Industries, a medical supplies manufacturer, which plans to develop an approximately 500,000-square-foot building at the site. Frank Tomasulo of CBRE’s Stamford, Conn., office represented the seller, Sacramento, Calif.-based Panattoni Development. Tomasulo is also the exclusive sales agent for the remaining parcel at Pine Lane Business Center, which can accommodate a second building of up to 241,000 square feet.
HOUSTON — Houston-based Live Oak Capital has arranged $7 million in fixed-rate, permanent financing for Office Pavilion – Houston, a 108,048-square-foot flex property located in Houston. Situated on 8.52 acres, the property comprises a single-story, 83,200-square-foot distribution building and a two-story, 24,848-square-foot office building. The property was completed this month; it is presently configured as a single-tenant furniture warehouse, showroom and distribution facility, and provides space for the Houston area distributor of Herman Miller office furniture. John Fenoglio of Live Oak Capital secured the financing on behalf of the borrower, locally based SASL LLC, with the lender, National Integrity Life Insurance Co. (Eagle Realty). It was recently announced that Charlotte, N.C.-based Grandbridge Real Estate Capital has made plans to acquire Live Oak Capital.
TUCSON, ARIZ. — Boston-based Intercontinental Real Estate Corp. has acquired a six-building industrial/research and development portfolio in Tucson for $46.3 million or $73.40 per square foot. Situated on 50.92 acres adjacent to the Tucson International Airport, the 606,027-square-foot portfolio consists of Tucson Technology and Commerce Center I, II, III, IV and Medina Business Center I & II. At the time of acquisition, the asset was 95 percent occupied by a variety of tenants, including Ferguson Enterprises, UPS, Solon AG and United Collections Bureau. A joint venture of the Muller Company and GE Real Estate sold the portfolio. Ryan Gallagher and Kelly Rohfeld with Grubb & Ellis, along with Russ Hall and Steven Cohen of Picor Commercial, brokered the transaction.
FITZGERALD, GA. — Albany, Ga.-based Interstate Warehouse Services has sold its 210,000-square-foot distribution facility to Appleton, Wis.-based FPC Southern Properties for an undisclosed amount. Located at 176 Rip Wiley Rd. in Fitzgerald, the 17.34-acre property originally housed a Miller Beer canning operation. FPC will use the warehouse as a paper distribution facility expected to generate 50 jobs in the next few years. Arthur P. Barry, III, of Macon, Ga.-based Coldwell Banker Commercial Eberhardt & Barry brokered the transaction.
DAYTON, OHIO — Springfield, Mass.-based Northstar Recycling Group has signed a lease for 93,000 square feet of space within the Dayton Distribution Center, which is located on Rosedale Drive in Dayton. The company will occupy the floor space by the end of the year. The building features rail access and a generous outside truck and trailer staging area. Tim Echemann of Sidney, Ohio-based Industrial Property Brokers negotiated the deal. Additional terms of the lease were not disclosed.