MIAMI — Under a contract with Flagler Construction, Tilt-Con Corp. of Orlando, Fla., has commenced construction of the 189,140-square-foot Beacon Lakes Building 12 in Miami. The warehouse was designed by Boca Raton, Fla.-based RLC Architects and is expected to deliver in December.
ALGONQUIN, ILL. — Baltimore-based Alex. Brown Realty Inc. (ABR), in a joint venture with Chicago-based Sydney Partners LLC, has acquired 545 Algonquin Industrial Park, which is located in Algonquin. ABR Chesapeake Fund III provided an equity commitment of $2.9 million to the venture. The debt and equity capital was arranged by Matthew Shoenfeldt in the Chicago office of Holliday Fenoglio Fowler. At the time of the sale, occupancy at the 111,355-square-foot, single-story property was at 80 percent. This is the third transaction between ABR and Sydney Partners, which are assembling a Midwest portfolio that is expected to have a total investment capacity of approximately $70 million. Prior to the acquisition, the joint venture acquired Kitley Industrial Park, a 365,750-square-foot industrial property in Indianapolis, as well as Merchants Distribution Plaza, a 260,000-square-foot industrial property in Des Moines, Iowa.
BROOKFIELD AND WATERTOWN, WIS. — Milwaukee-based Colliers Barry has represented both parties in the acquisition of an industrial facility located at 3245 N. 126th St. in Brookfield. TNC Development has acquired the 13,380-square-foot building from Hearthstone Group for an undisclosed amount. James Cape of Colliers Barry represented the buyer; James Young, also of Colliers Barry, was the listing broker in the transaction. Additionally, Colliers Barry has arranged the lease of a warehouse facility, which is being constructed at 1009 S. 12th St. in Watertown. U.S. Chemical’s has leased the 150,000-square-foot warehouse from Wangard Partners Inc. The new distribution center will be ready for occupancy this fall. Pete Slezak of Colliers Barry brokered 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.
PIERCE COUNTY, WASH. — IKEA has opened its 646,000-square-foot distribution center in Pierce County. Located within Frederickson Industrial Area, the facility is the first phase of a project that will eventually expand to more than 1 million square feet. The center will primarily serve IKEA stores in the northwest region, including four in western Canada and three in the United States (Renton, Wash., Portland, Ore. and Draper, Utah). When fully utilized, the center will employ approximately 125 employees and provide tax revenue for local governments and schools.
ORLANDO, FLA. — Southland Florida Properties has sold a 50,000-square-foot warehouse, located at 3001 Director’s Row in Orlando, to Director’s Row LLC for $3.75 million. The building, which is in the Orlando Central Park, is 100 percent occupied. Susan Ruby of Cushman & Wakefield’s Orlando office represented the seller.
YORK, PA. — Chicago-based First Industrial Realty Trust has broken ground for the development of Commerce Park in York. The 1.1 million-square-foot manufacturing plant and distribution center is being developed as a build-to-suit project for Church & Dwight Co. (C&D). The household products manufacturer will consolidate the company’s central New Jersey operations into the new location. The building is situated on 232 acres, and has expansion capability of up to 1.9 million square feet. The project is also seeking LEED certification. First Industrial, which is developing the project, also sold the site to C&D. Joseph McDermott and James Carter of CB Richard Ellis’ Wayne, Pa., office and Mindy Lissner of the company’s East Brunswick, N.J., office negotiated the build-to-suit transaction. The total project cost is expected to exceed $170 million.
MILLBURY, MASS. — Grubb & Ellis has brokered the sale of a 101,500-square-foot industrial property, located at 12 Latti Farm Rd. in Millbury, for $7 million. The property contains office, manufacturing and warehouse space. It is leased on a long-term basis to Cameron International, a manufacturer and service provider for the oil and gas industry. Bradford Spencer and Anthony Biette of Grubb & Ellis represented the seller, Latti Farm Realty LLC. The buyer was First American Realty.
FORT WORTH, TEXAS — Arlington, Texas-based Bob Moore Construction has completed two new buildings at Mercantile Center, an approximately 1,300-acre business park located in Fort Worth. Mercantile Distribution Center 16 is a 136,900-square-foot facility with 28 dock doors, and Mercantile Distribution Center 17 is a 182,400-square-foot facility with 31 dock doors. Both buildings feature 50-foot by 50-foot typical bay spacing and a 50-foot by 60-foot loading zone along the dock doors. Each building also includes skylights and ESFR sprinkler systems. The project was designed by Dallas-based Hardy McCullah/MLM Architects. Mercantile Center is owned by Fort Worth-based Mercantile Partners LP.
TORRANCE, CALIF. — Thompson National Properties LLC served as an intermediary and facilitator on behalf of TA Associates Realty and Storm Properties in the disposition and acquisition of a 13-property industrial portfolio. Located primarily in Torrance, the portfolio comprises 545,000 square feet. TA Associates acquired the portfolio for $52 million. Kevin Shannon of CB Richard Ellis introduced TA Associates to Thompson National Properties.