MENDOTA HEIGHTS, MINN. — Minneapolis-based Welsh Cos. has completed the sale of a 48,059-square-foot industrial facility located at 2506 Northland Dr. within the Northland Drive Business Center in Mendota Heights, Minn. Anchor Fasteners has acquired the building from Northland Drive Partnership for approximately $2.39 million. Ted Carlson and Evan Molde of Welsh Cos. represented the seller in the transaction.
Industrial
ELK GROVE VILLAGE, ILL. — Chicago-based Paine/Wetzel • ONCOR International has completed three industrial transactions totaling approximately 120,000 square feet in Elk Grove Village. Located at 2541-61 Allan Dr., Arrow Plastics has signed a lease for 90,000 square feet of industrial space. Arrow Plastics selected the facility because of its close proximity to the firm’s corporate headquarters, which is also located in Elk Grove Village. Elise Couston of Paine/Wetzel represented Arrow Plastics; Pat McCourt of CB Richard Ellis represented the landlord in the transaction. Additionally, Leslie Spinner and Jeffrey Girling of Paine/Wetzel have brokered the sale of an 18,720-square-foot industrial property located at 930 Lee St. The facility includes 3,400 square feet of office space, two loading docks, four drive-in doors and 16-foot clear-height ceilings. Biesterfield Properties LLC has acquired the building from an undisclosed seller. Matt Mulvihill and Sam Durkin of Grubb & Ellis represented the buyer in the transaction. In addition, Lyall Thresher & Associates has acquired an 11,010-square-foot industrial building located at 1101 Tonne Rd. Theresa Gleason of Paine/Wetzel represented the seller, Sitex Realty Group; Sean Henrick of Cushman & Wakefield represented the buyer in the transaction.
WINDSOR, CONN. — The Hartford, Conn., office of CBRE Capital Markets has arranged a $7 million loan for a 221,213-square-foot industrial building located at 550 Marshall Phelps Rd. in Windsor. Situated on approximately 29.75 acres, the building features approximately 84,000 square feet of office space, 6-inch reinforced concrete floors, and expansion capability for an additional 70,000 square feet. Michael Riccio and Christina Kubas of CBRE Capital Markets secured the loan on behalf of the borrower, 550K Marshall Phelps Road LLC, which is an affiliate of The DeMattia Companies. The lender was CIGNA Realty Investors. Terms of the financing include a 5-year term with a fixed interest rate.
ONTARIO, CALIF. — The William Warren Group has purchased Lockaway Storage-Ontario, which is located at 1372 E. 5th St. in Ontario, for $9.6 million. The facility consists of approximately 80,000 square feet of storage space, two acres of RV parking and approvals to build an additional 20,000 square feet of climate-controlled storage. The buyer will operate the property under its brand name, StorQuest Self Storage. Greg Wells represented both parties in the transaction. The seller was Lockaway Storage.
CARRBORO, N.C. — Charlotte-based Morningstar Properties, through a joint venture with Chicago-based Harrison Street Real Estate Capital, has purchased a 78,210-square-foot storage center, located on South Greensboro Street in Carrboro. Further details of the transaction were not announced. The property, which encompasses 727 units, will operate under the Morningstar Mini Storage banner and features climate-controlled units and drive-up access. The acquisition marks Morningstar’s second storage facility purchase in the Chapel Hill/Carrboro market.
ROMULUS, MICH. — Colliers International has arranged the lease of 718,654 square feet of industrial space within The Northline Industrial Center, which is located at 38481 Huron River Dr. in Romulus. Comprehensive Logistics Co. has leased the space from Northline LLC. Gary Glotzhober of Colliers International represented the landlord; Ron Gernay of CB Richard Ellis represented the lessee in the transaction. Terms of the lease were not disclosed.
FRESNO, CALIF. — Titan Real Estate Investment Group has purchased a two-building industrial warehouse facility for $5.1 million. The property, which is located at 2676 and 2686 S. Maple Ave. in Fresno, offers 150,000 square feet of space. The seller was GAF Materials Corp.
COMMERCE, CALIF. — Valassis Direct Mall Inc., a national marketing services company, has signed a 10-year lease to occupy a 235,000-square-foot distribution/manufacturing facility in Commerce. Located at 5500 Olympia Blvd., the property offers 36,538 square feet of office space and direct access to 5, 710, 60 and 10 freeways. Greg Dyer and Tres Reid of CB Richard Ellis’ Torrance, Calif., office represented the lessee; Jeff Stephens, John Privett and Cameron Merrill of CB Richard Ellis’s Commerce office represented the landlord, East Los Angeles, Calif.-based TELACU Industries, in the transaction.
GRAND PRAIRIE, TEXAS — Fort Worth, Texas-based NAI Huff Partners has negotiated an 8,050-square-foot industrial lease on behalf of Speedy Metals of DFW. The tenants, which was represented by Frank Jester of NAI Huff Partners, will be occupying space at 801 S. Great Southwest Pkwy. in Grand Prairie. The landlord was First Industrial LP. Terms of the lease were not disclosed.
ATLANTA — Atlanta-based IDI Services Group has extended Menlo Worldwide Logistics’ lease of the 256,700-square-foot Shawnee Ridge Building 3, located in Shawnee Ridge off Interstate 85 in Atlanta, for 5 years. Menlo Worldwide, which will occupy the space until September 2013, has used the warehouse for inventory management and product distribution since April 1995.