Industrial

AEP INDUSTRIES INC. LEASES 143,877 SQUARE FEET FOR $7 MILLION

by admin December 9, 2008

CHINO, CALIF. — AEP Industries Inc. has leased 143,877 square feet of industrial space within Watson Commerce Center Chino, which is located at 6949 Bickmore Ave. in Chino. The company signed an 88-month lease beginning January 15, 2009, for a total consideration of $7 million. AEP manufactures more than 15,000 types of multi-purpose and flexible packaging films. Chuck Belden of Cushman & Wakefield represented the lessee; Tom Taylor, Steve Bellitti and Josh Hayes of Colliers International represented the landlord, Watson Land Co.

December 9, 2008

PARAMOUNT REAL ESTATE CORP. ARRANGES INDUSTRIAL ACQUSITION

by admin December 8, 2008

ST. PAUL, MINN. — Bloomington, Minn.-based Paramount Real Estate Corp./TCN Worldwide has arranged the acquisition of a 312,800-square-foot distribution/warehouse facility located at 1700 Wynne Ave. in St. Paul. The building will be occupied by a group of companies associated with the ownership of 3PL Holdings LLP. Companies occupying the facility in the first quarter of 2009 will include Superior Third Party Logistics, Superior Brokerage Services, SBS Transportation Services, SBS Specialized Transportation Inc. and SBS International. Additionally, the seller, Minnesota Diversified Industries, will lease back a small portion of the building for its St. Paul operations. The acquisition price was not disclosed.

December 8, 2008

Industrial Midwest

ADVANCE AUTOR PARTS TAKES 45,852 SQUARE FEET IN DISTRIBUTION CENTER

by admin December 8, 2008

FRANKLIN PARK, ILL. — Advance Auto Parts Inc. has leased 45,852 square feet within the Franklin Park Distribution Center, which is located at 11222 Melrose Ave. in Franklin Park. David Bercu, Thomas Rodeno and Jonathan Kohn in the industrial services group of Colliers Bennett & Kahnweiler represented the landlord, Washington Properties, in negotiations. The 73,160-square-foot warehouse facility features 30-foot clear ceiling heights, an ESFR Sprinkler System and 17 exterior docks. Advance Auto Parts will use its new space as an auto parts distribution center. The company is expected to fully occupy the facility at beginning of the year. Dan McGillicuddy of Jones Lang LaSalle represented the tenant in negotiations. Additional terms of the lease were not disclosed.

December 8, 2008

Industrial Northeast

HIGH ASSOCIATES LEASES 147,235-SQUARE-FOOT FLEX BUILDING

by admin December 8, 2008

LANCASTER, PA. — High Associates, Ltd., an affiliate of Lancaster-based High Real Estate Group, has completed a lease for a 147,235-square-foot industrial flex facility located in Lancaster. The nearly completed facility is located on William Penn Way within the 600-acre Greenfield Corporate Center master-planned business park. It features modern high-bay warehouse space, as well as potential office space. It contains 28- to 33-foot clear ceiling heights, 20 docks and two on-grade doors. The building was leased by children’s toys and products distributor Chicco USA, which is relocating its corporate headquarters to the facility in February. Ruth Devenney of High Associates negotiated the transaction.

December 8, 2008

Industrial Northeast

STORAGE OP PARTNERS ACQUIRES 531-UNIT SELF STORAGE PROPERTY

by admin December 8, 2008

MIDDLETOWN, R.I. — Storage Opportunity Partners (SOP) has acquired Aquidneck Island Self Storage, a 531-unit self storage property located in Middletown. The property totals 62,700 square feet in four two-story buildings. Almost all of the storage units are either climate controlled or direct drive-up. SOP plans to rebrand the property Storage Pros Self Storage, as well as add a Budget Truck Rental to the facility. The property will be managed by Storage Pros Management, a subsidiary of SOP. This most recent acquisition brings SOP’s portfolio to 11 properties totaling 5,700 units and 840 outdoor storage spaces, all of which were acquired in the last 19 months.

December 8, 2008

Industrial Texas

SOUTHWEST’S LARGEST INCINERATOR SOLD BY CBRE

by admin December 8, 2008

CHAMBERS COUNTY, TEXAS — Waste Management has acquired a medical waste incinerator from The Commissioner’s Court of Chambers County for $25 million. Built in 2001 for approximately $17.5 million, the 28,000-square-foot facility is the largest in the Southwest. It is situated on 40 acres at 7501 State Highway 65 and can support medical waste, sharps, non-hazardous industrial waste and pharmaceutical, document destruction, illegal drugs, laboratory waste and counterfeit items. Michael Palmer and Bill Boyer of CB Richard Ellis, and Beaumont-based Orgain, Bell and Tucker represented Chambers County in the transaction. Jimmy Kahla of the Chambers County Commissioner’s Court assisted in the solicitation of potential buyers.

December 8, 2008

Industrial Southeast

FITNESS MANUFACTURER PLANS 225,000-SQUARE-FOOT FACILITY

by admin December 5, 2008

GUILFORD COUNTY, N.C. — The fitness equipment manufacturer Precor is planning a 225,000-square-foot warehouse in Rock Creek Center in Guilford County for $26.2 million. The facility will be fully operational and will be employ 142 workers by 2011. In addition to serving as a manufacturing facility, the property will house the Precor Strength Division. Construction of the building, which was made possible by a economic development grant from Guilford County, will be guided by LEED standards.

December 5, 2008

Industrial Southeast

HEWLETT PACKARD EXPANDS SPACE IN TENNESSEE WAREHOUSE

by admin December 5, 2008

LAVERGNE, TENN. — Hewlett Packard has signed a lease renewal and expansion with Principal Real Estate Investors for 80,000 square feet of space in the Mid South Logistics Center. The company now occupies 380,000 square feet of the warehouse, located at 455 Industrial Blvd. in Lavergne. David McGahren, Doug Howard and John Ward of Colliers Turley Martin Tucker – Nashville assisted Principal Real Estate with the lease. Nashville Commercial Real Estate Services’ Terry Smith and Jerry Frazier represented the tenant.

December 5, 2008

Industrial Midwest

MERIDIAN DESIGN BUILD ADVANCES ON 506,800-SQUARE-FOOT SPEC FACILITY

by admin December 5, 2008

ROMEOVILLE, ILL. — Construction is underway on the third spec facility being built within the Land and Lakes Bluff Point Business Park, which is located at the corner of Joliet Road and Bluff Road in Romeoville. On behalf of developer Land and Lakes Development Co., Meridian Design Build is serving as design/build general contractor for the project. Upon completion of the project, Bluff Point III Distribution Facility will measure 506,800 square feet in size. The multi-tenant building will include four drive-in doors, 30-foot clear ceiling heights, an ESFR Sprinkler System and 168 exterior docks with ample trailer parking. Peter Stadler and Ryan Brandush are handling the project for Meridian Design Build. The design team for the facility includes Harris Architects and Jacob & Hefner Associates. Jeff Kapcheck and Lynn Reich of Colliers Bennett & Kahnweiler are marketing the property. The estimated cost of completion was not disclosed.

December 5, 2008

Industrial Northeast

TWO DISTRIBUTION CENTERS SOLD FOR $3.6 MILLION

by admin December 5, 2008

EAST HARTFORD, CONN. — Hamden, Conn.-based Press/Cuozzo Commercial Services has brokered a 121,750-square-foot industrial sale in East Hartford for $3.6 million. The property comprises two distribution centers situated on 2 acres at 166 and 188-200 Prestige Park Rd. The buildings total 81,750 and 40,000 square feet; they feature 27-foot clear ceiling heights and a total of eight tailgate loading docks. Albert Scafati of Press/Cuozzo represented the buyer, 55 Pent Highway Associates. Nicholas Morizio of Colliers Dow & Condon represented the seller, A&M Cohen & Family.

December 5, 2008

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