BELLEFONTAINE, OHIO — Sidney, Ohio-based Industrial Property Brokers has arranged the purchase of the former Stock Lumber facility, located at 1100 S. Detroit St. in Bellefontaine. The 4.5-acre property contains an approximately 27,000-square-foot main building, as well as a 14,000-square-foot storage building. It was acquired by the Logan County Solid Waste Management District, which plans to relocate its offices to the facility. In addition, the site will be used as a central processing location for the county’s 20 recycling centers. The new facility is expected to double the county’s ability to process recyclable waste. The acquisition price was not disclosed.
DENVER — Denver-based ProLogis has closed on a $137.5 million, 5-year secured financing loan for ProLogis California Fund. The loan has a loan-to-value of approximately 50 percent with 21 industrial properties located in the Los Angeles Basin and Inland Empire. An undisclosed major life insurance company provided the financing.
CHICAGO — Chicago-based Paine/Wetzel • ONCOR International has brokered three Chicago industrial transactions. First, Soto Insulations acquired a 13,77-square-foot building located at 4323 S. Western Blvd. The building features undercover trucks floors, three drive-in doors, 14-foot clear ceiling heights and 750 square feet of office space. Paine/Wetzel’s Albert Schulman and Michael Nelson represented the seller, 4321-4323 S. Western Blvd. LLC. Daniel Crow of Darwin Realty & Development represented the buyer. Sumit Construction acquired an 11,000-square-foot building located on 2.33 acres at 4150 W. Wrightwood Ave. The building, formerly an emissions testing facility, features drive-through capability, 18-foot clear ceiling heights and 10 overhead doors. Paine/Wetzel’s Rodger Chenore, Terence Lynch and Jeffrey Girling represented the buyer. The seller, Envirotest, was represented by David Troha of NAI Hiffman. Finally, Tri-angle Fabrication purchased a 9,050 building situated on 2 acres at 1344 W. 43rd St. The building features eight drive-in doors and 18-foot clear ceiling heights. Chenore, Lynch and Girling represented the buyer.
ORANGE COUNTY, CALIF. — Voit Real Estate Services has completed the sales of three industrial properties in Orange County. In the first transaction, Contract Carpet acquired a 29,070-square-foot land parcel for $4.8 million. LPC Fullerton sold the property, which is located at 850 Enterprise St., Suite 6 in Fullerton, Calif. Brian DeRevere and Ryan Peterson of CB Richard Ellis represented the buyer; Mitch Zehner and Louis Tomaselli of Voit represented the seller in the transaction. Additionally, The Setbisium Trust completed the disposition of an 18,900-square-foot industrial building, which is located at 151 Columbine Ave. in Santa Ana, Calif. Landmax Group LLC purchased the property for $2.9 million. Greg Velastegui of Voit represented the buyer; Michael Cargile, Loren Cargile and Kevin Bayless, also of Voit, represented the seller in the transaction. In the final transaction, Staminus Communication Inc. has purchased a 4,637-square-foot industrial property, which is located at 9253 Research Dr. in Irvine, Calif., for $1.3 million. Sam Saeedi of Optimal Portfolio Real Estate Ground represented the buyer; Michael Hartel, Kevin Turner, Joseph Winkelmann and Travis Haining of Voit represented the seller, KPM Spectrum, in the transaction.
ELWOOD, ILL. — NAI Hiffman, on behalf of owner CenterPoint Properties, has negotiated a long-term lease for 415,800 square feet of industrial space at the CenterPoint Intermodal Center in Elwood. Alliance 3PL, an Illinois-based specialty warehousing and transportation management services company, will occupy space in one of the two speculative Import Distribution Centers (IDC), which together total 2.4 million square feet. Construction of the first IDC facility was completed late last year, while work on the second building is expected to commence this spring. Alliance 3PL’s portion of the space features 32-foot clear ceiling heights, 108 trailer spaces, 53 dock doors and an office component. The company relocated from an office in Bolingbrook, Ill., in order to operate adjacent to the BNSF Logistics Park-Chicago. Daniel Leahy and Adam Roth of NAI Hiffman represented CenterPoint Properties.
MINNEAPOLIS — DCT Industrial Trust has leased 158,000 square feet of industrial space, located in southwest Minneapolis, to COKeM International. The video game distributor plans to use the facility as its new distribution headquarters. Brad Bohlman of Welsh Cos. represented the tenant in lease negotiations. Bill Ritter, also of Welsh, represented the DCT, the building’s landlord. Terms of the lease were not disclosed.
VANCOUVER, WASH. — Precise, a local precision grinding company, has purchased an industrial building, which is located at 5600 NE 121st Ave. in Vancouver. California-based Elixir Industries Inc. sold the property for $4.22 million. Precise plans to move into the facility in May and market approximately 25,000 square feet for lease. Garret Harper of NAI Norris, Beggs & Simpson represented the buyer in the transaction.
AURORA, ILL. — A joint venture between Chicago-based companies Bridge Development Partners and Wrightwood Capital has signed the first lease at Park Butterfield, a two-building, 412,177-square-foot industrial property located at 3565 and 3557 Butterfield Rd. in Aurora. Cano Container Corp. will occupy 32,500 square in the property’s 176,098-square-foot building. The other building in Park Butterfield totals 236,079 square feet. Both buildings, which are used for distribution and light assembly, feature 30-foot clear ceiling heights, multiple drive-in docks, up to 43 dock doors per building, up to 39 truck parking spaces per building and a total of 393 car parking spaces. Cano Container Corp. is expanding from its current location at 2300 Raddant Rd., also in Aurora.
ASTON, PA. — Colliers Lanard & Axilbund (CLA) has brokered the sale of the former Greif Inc. property, an approximately 145,000-square-foot industrial property located at 3033 Market St. in Aston. The building is situated on a 17-acre site and was vacated by Delaware, Ohio-based Greif in the third quarter of 2008 following a consolidation of facilities. It was purchased by XP Properties, which plans to lease the entire facility to Priority Archives, Priority Shred and Priority Express Courier. CLA, along with the Columbus, Ohio, office of Colliers Turley Martin Tucker, represented the seller. The buyer was represented by Chadds Ford, Pa.-based Brandywine Financial. The acquisition price was not disclosed.
HOUSTON — A joint venture between McShane Development Co. and MetLife Real Estate Investments has completed Guhn Road Distribution Center, a 253,838-square-foot industrial facility located in Houston. The property is situated on 14 acres at the intersection of Guhn and Northcourt roads. It features 30-foot clear ceiling heights, 68-foot staging bays, 53-foot by 50-foot bays, 52 external truck docks, four drive-in doors and can accommodate multiple users from 40,000 square feet. The Houston office of Cadence McShane Construction provided design-build construction services for the project. Munson Kennedy provided architectural services. Locally based Stream Realty Partners will be leasing the property.