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.
Industrial
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.
KANSAS CITY, MO. — North Andover, Mass.-based Watts Water Technologies has leased 113,155 square feet of industrial space located at 1399 North Universal Ave. in Kansas City from Medline Industries Inc. The Class A, 360,000-square-foot facility is situated within Executive Park. Whitney Kerr of Colliers Turley Martin Tucker represented Medline Industries; John McDaniel of Dallas-based Mohr Partners, in conjunction with Nick Tinnel of Zimmer Real Estate, represented Watts Water Technologies in the transaction. Terms of the lease were not disclosed.
FOLCROFT, PA. — White Marsh, Md.-based CSG Partners has begun construction for a 45,000-square-foot warehouse building located in Folcroft. Situated on 10 acres on Kaiser Drive within Folcroft West Business Park, the building will feature 24-foot clear ceiling heights, 16 dock doors, office space and approximately 60 surface parking spaces. Completion is scheduled for January 2009, and The Flynn Company will handle leasing of the property. The new facility will be located adjacent to a 125,000-square-foot warehouse that was recently renovated by CSG. Formerly a manufacturing facility occupied by ConAgra Foods, the renovated building includes 22-foot clear ceiling heights, a truck court and 20 dock doors. It is currently 25 percent leased. CSG Partners is the real estate development and investment arm of a joint venture between The Creaney & Smith Group and the Global Merchant Bank Group of Prudential Real Estate Investors.
AMHERST, N.H. — The Bedford, N.H., office of Grubb & Ellis|Coldstream Real Estate Advisors has brokered the sale of an approximately 38,380-square-foot warehouse facility, located at 9 Columbia Dr. in Amherst, for $2 million. The approximately 5-acre property formerly served as the sales and distribution facility for Atomic Ski USA. Future plans include a majority of the facility serving as the new headquarters of Skillings & Sons, which will consolidate its existing Hollis and Brookline, N.H., operations. The company plans to take occupancy in early 2009. Jacob Akers, Jim DeStefano and Neal Barrett of Grubb & Ellis|Coldstream represented the seller, Ogden, Utah-based Atomic Realty Corp. The trio also procured the buyer, 9 Columbia Drive Realty Holdings LLC. In addition, Grubb & Ellis also arranged the leasing of an additional 18,182 square feet within the warehouse. Grubb & Ellis|Coldstream represented the new ownership in leasing the space to locally based Preforms Plus. Terms of the lease were not disclosed.
HOUSTON — CB Richard Ellis (CBRE) has arranged the purchase of a 26.49-acre industrial development parcel located at the corner of Pinemont Drive and U.S. Highway 290 in Houston. The buyer, locally based oilfield services company TAM International, plans to construct a 150,000-square-foot manufacturing plant on the site. The parcel acquired in the transaction is situated near the company’s existing facilities on Southerland Road. Michael Palmer, John Simons and Susana Rosas of CBRE’s Houston office provided representation for TAM, which acquired the site in an off-market transaction from Sueba Investments. The acquisition price was not disclosed.
POINCIANA, FLA. — Completing the first phase of its Poinciana CommerCenter, Small Bay Partners has opened 63,000 square feet of industrial space in three buildings. Located at the intersection of U.S. 17-92 and Poinciana Boulevard in Poinciana, one building will serve as a showroom while the other two will be used as office and warehouse space. The property features three-phase electrical power, outside storage, high ceilings and wide overhead doors.
RENO, NEV. — DP Partners has completed the development of the first speculative distribution facility at its LogistiCourt™ at Silver Lake in Reno. Located west of the intersection of Moya and Lear boulevards, the 65-acre master-planned development will feature approximately 1.4 million square feet of industrial space. Situated on a 24-acre site, Building A, a multi-tenant, cross-docked facility, features 32-foot clear ceilings heights, energy-efficient T-5 lighting, 2 percent skylights, 50-foot by 50-foot bays, 60-foot speed bays, 102 truck docks, eight drive-in doors, parking for 163 cars and an ESFR fire-suppression sprinkler system. Designed by Reno-based Blakely Johnson & Ghusn Architects, the facility can accommodate tenants ranging in size from 65,000 to 545,550 square feet. Reno-based United Construction Co. served as general contractor for the property.
ELIZABETH, N.J. — CB Richard Ellis (CBRE) has completed a lease for 102,000 square feet at 545 Dowd Ave. in Elizabeth. The space will be occupied by ACE, a global logistics provider. The industrial building includes 60 trailer parking spaces, 100 car parking spaces and is located just off Route 95 at its intersection with the New Jersey Turnpike. Mark Tannen of CBRE represented ACE, as well as the landlord, 553-565 Dowd LLC. Terms of the lease were not disclosed.