ORANGE, CALIF. — Fisher Printing Inc. has acquired an industrial building, which is located at 2341 N. Pacific St. in Orange, for $6.75 million. Situated on 2.3 acres, the property comprises a 54,000-square-foot freestanding building and two fenced yard areas. The building features 6,094 square feet of office space, 10 dock-high loading doors, one ground-level loading door, warehouse restrooms and a lunchroom. The seller was Vanderplow Properties. Mitch Zehner and Louis Tomaselli of Voit Commercial Brokerage represented both parties in the transaction.
Industrial
POMONA, CALIF. — The American subsidiary of China National Aero-Technology Import and Export Corp. (CATIC USA) has purchased a 22,234-square-foot industrial building, which is located within Mission-71 Business Park in Pomona. Long Beach, Calif.-based Seventh Street Development sold the property for $3.3 million. The building offers 2,301 square feet of two-story office space, dock high loading and a private fenced yard. Barbara Emmons, Lynn Know, John Privett and Lyn Eisenhower of CB Richard Ellis represented both parties in the transaction.
DURHAM, N.C. — Lee Holder of Raleigh, N.C.-based Anthony & Co. has leased 168,295 square feet of space at a building in Research Triangle Park to Global Electric Electronics. Further details of the lease were not announced. The property, located at 2910 Weck Dr. in Durham, will serve as a recycling space for electronics.
OAKDALE, MINN. — NAI Welsh has represented both parties in the $11 million sale of two industrial buildings located within the Oakdale Interstate Center II and the Hadley Avenue Business Center in Oakdale. The Oakdale Interstate Center II is located at 559 Hale Ave. N. and the Hadley Avenue Business Center is located at 7013 6th St. N. The facilities total 166,396 square feet of industrial space. GFI Investments has acquired the properties from Welsh subsidiaries, Welsh Oakdale III and Oakcreek Industrial Partners. Bob Pounds and Tim Prinsen of NAI Welsh represented the seller; Peter Mork, Steven Nilsson and Jason Simek, also of NAI Welsh, represented the buyer in the transaction.
INDIANAPOLIS — Patrick Lindley and Bob Dugger of Colliers Turley Martin Tucker-Indianapolis’ construction services group are representing Monarch Beverage Co. in a build-to-suit project located at 9347 Pendleton Pike in Indianapolis. The 534,469-square-foot facility will be Monarch’s corporate headquarters, as well as a state-of-the-art distribution center for the company. Lindley also represented Monarch in the acquisition of the 93-acre development site. The estimated cost of completion was not disclosed.
YORK, PA. — A joint venture between New York City-based investment firms Ark Investment Partners, Savanna and Belfer Management has disposed of a 383,000-square-foot warehouse and distribution center, located at 2995 E. Market St. in York, for $10.5 million. The joint venture acquired the property in 2003 and leased a significant portion of the formerly vacant building through a multi-million dollar capital improvements plan. It was acquired by Four Concord Partners. Cushman & Wakefield represented the seller in the transaction.
GRAND PRAIRIE AND ARLINGTON, TEXAS — Grubb & Ellis has arranged the sale of a four-building warehouse/distribution portfolio located in metro Dallas. The portfolio totals 325,745 square feet and consists of the three-building Northcourt Center, located in 901-909 Avenue T in Grand Prairie, as well as a building located at 2224 E. Randol Mill Rd. in Arlington. The portfolio is fully leased to 10 tenants. Lizzy Blake of Grubb & Ellis’ Dallas office represented the seller, Morristown, N.J.-based MetLife Real Estate Investments. The portfolio was acquired by Chicago-based Lincoln Advisory Group on behalf of Columbia Industrial Properties. The acquisition price was not disclosed.
HOUSTON — Koll/PER has acquired Park Place 8, four adjacent flex-space buildings located in Houston. The single-story, concrete tilt-up buildings total 250,898 square feet, and are located on 21.74 acres adjacent to the Sam Houston Tollway, between Interstate 10 and Highway 290. The buildings were constructed in two phases from 2005 to 2007. They contain 18 units, and are 92 percent leased to a tenant roster that include Amerisciences, BP Microsystems, Cintas, Morrison Homes, Patterson Dental and Ryland Homes. Koll/PER, which is a limited liability company owned by joint venture between Newport Beach, Calif.-based The Koll Company and Boise, Idaho-based Public Employee Retirement System of Idaho, acquired the property from Plano, Texas-based Granite Properties. Koll/PER provided in-house representation, and Granite was represented by Tom Lynch of CB Richard Ellis. The Koll Company plans to manage the property.
SHEPHERDSVILLE, KY. — Charles DeWeese Construction will being site work this month on the more than 1 million-square-foot ZAP/Integrity Automotive Electric Car plant, located on 267 acres in the North Wilkey Industrial Center in Shepherdsville. The plant, which will initially employ 1,250 people when completed, will begin production of three-wheel electric cars by the middle of next year. The building is being constructed to LEED standards and will feature turbine wind machines, roof ventilation and solar panels used to heat water and generate electricity.
CHESTERFIELD COUNTY, VA. — Virginia T’s has leased 208,000 square feet of industrial space in two buildings, located at 11200 and 11300 Old Stage Rd. in Chesterfield County, from The HNI Corporation. Further details of the lease were not disclosed. Grubb & Ellis|Harrison & Bates’ Stuart Cary and Greg Creswell represented HNI.