PHOENIX — AIC Investment Co. has purchased a 4.03-acre land parcel in Phoenix’s Estrella Commerce Park II for $1.31 million or $7.50 per square foot. The company plans to develop a 60,000-square-foot build-to-suit industrial property on the site, which is located at the southwest corner of 72nd Avenue and Sherman Street. Sun State Builders is serving as general contractor for the project, which is slated for completion in June 2009. Gulf Arizona Packaging is contracted to occupy 30,000 square feet of the property. The seller was Tempe, Ariz.-based Chamberlain Development LLC. Payson MacWilliam and Don MacWilliam of Colliers International represented both parties in the transaction.
WEST CHESTER, OHIO — Louisville, Ky.-based Humana Inc. has leased 140,795 square feet of space at Park 75, which is located within Opus North Corp.’s Union Centre II industrial development in West Chester. The building will house Humana’s first office and dispensing site in the Midwest. In order to accommodate the tenant, Rosemont, Ill.-based Opus North reconfigured Park 75’s layout to offer more parking spaces and a larger office build out. Humana’s new space includes 80,000 square feet for a call center and 60,000 square feet for drug fulfillment. Dell occupies the other building within the park. Dave Noonan and Norm Khoury of Colliers Turley Martin Tucker brokered the long-term lease on behalf of Opus North; Bob Ryan, also of Colliers Turley Martin Tucker, represented Humana in negotiations.
FREDERICK, MD. — Bechtel Corp. has renewed 10-year leases for 325,879 square feet of space in multiple buildings in its Frederick campus. Further details of the leases were not released. CB Richard Ellis’ Meredith LaPier and Andy Cole represented Bechtel in the transaction. The property’s owner, California-based Gateway Franklin, was represented by TA Associates.
VIRGINIA BEACH, VA. — Virginia Beach-based ADS has purchased 81,000 square feet of warehouse space on Aviator Drive in Virginia Beach from an undisclosed seller for an undisclosed price. The warehouse will serve as the firm’s primary kitting, assembly and storage operations center. ADS has also acquired 13 acres adjacent to the property for a 160,000-square-foot expansion and plans on hiring up to 15 more employees. Finally, the company will invest $26 million to buy land, buildings, equipment and inventory in the city.
HOUSTON — Grubb & Ellis has brokered the sale of a 34,286-square-foot industrial building, located at 10010 Gulf Freeway in Houston. Rob Stillwell and Jay Jenckes of Grubb & Ellis’ Houston office represented the buyer, PEJ Real Estate Interests LP. The property was sold by Ruhrpumpen for $2.2 million.
NILES, ILL. — Chicago-based Epic Realty Partners/TCN Worldwide has brokered the sale and acquisition of a 27,214-square-foot manufacturing facility located at 7530 N. Natchez in Niles. Talk-A-Phone, which is relocating its headquarters to the Niles property from Chicago, purchased the building from Cook Financial. The sale was valued at approximately $2.38 million. Joel Friedland and Denise Stein Chaimovitz of Epic Realty Partners represented the buyer; Stein Chaimovitz and David Mitidiero, also of Epic Realty Partners, represented the seller in the transaction.
CARSON, CALIF. — Watson Land Co. has acquired a 266,780-square-foot industrial property and 8 acres of vacant land in Carson. Located at 771 Watson Center Rd., the building currently serves as a warehouse and distribution facility for UPS Supply Chain Solutions. Built in 1972, the single-story property features 24-foot clearance and 56 dock-high loading doors. Jay Borzi and Steve Silk of Eastdil Secured, along with David Prior and Todd Taunger of The Klabin Company, brokered the transaction. The seller and sales price were not disclosed.
TUSTIN, CALIF. — 15771 Red Hill LLC, a group of private investors, has acquired a 79,756-square-foot industrial property in Tustin. Situated on a 6-acre site at 15771 Red Hill Ave., the property offers 36,000 square feet of office space. The transaction was valued at $12 million. Currently, the facility is 50 percent leased to Cookie Lee, a direct-sale jeweler. Michael Hartel of Voit Commercial Brokerage represented the buyer; Gregg Haley and Kelly Kayl of CB Richard Ellis represented the seller, SK Red Hill Properties LLC, in the transaction.
JACKSON, MICH. — CB Richard Ellis has brokered the sale of a 441,000-square-foot industrial facility located at 2400 Enterprise Dr. in Jackson. Situated on 33 acres, the property formerly housed a Goodyear Tire warehouse. Equestor Partners has purchased the building from CDC Mead for an undisclosed amount. Stephen Kurtz in the Detroit office of CB Richard Ellis represented the seller in the transaction.
PLAINFIELD, IND. — Siemens Healthcare USA has signed a lease for 320,070 square feet of industrial space within Building 100 in the Plainfield Distribution Center. Atlanta-based Republic Properties is the landlord for the 493,500-square-foot facility, which is located at 2150 Stanley Rd. in Plainfield. Chip Barnes and Matt Dickerson of Indianapolis-based NAI Olympia Partners represented Republic Properties; Tom Cooler, Ryan Beesley and Paul Novello of CB Richard Ellis represented Siemens in lease negotiations. Terms of the lease were not disclosed.