BREA, CALIF. — Cabinet-hardware distributor Louis and Co. has signed a 5-year lease renewal for 115,000 square feet of office/industrial space at 895 Columbia St. in Brea. CB Richard Ellis’ Ben Seybold, Mark Latimer and Sean Ward represented the tenant in the transaction.
MEMPHIS, TENN. — Monmouth Real Estate Investment Corp. has purchased a 450,000-square-foot warehouse from Harbin Enterprises for $14.6 million. The property, located at 5025 Tuggle Rd. in Memphis, is triple-net-leased to FedEx Supply Chain Services, a tenant in the building since 2005. Darren Sides of Porthaven Partners represented Monmouth in the transaction.
GAFFNEY, S.C. — Jetline has leased a 150,000-square-foot warehouse from Forsite Development in Gaffney. Jetline is moving to the new property, located at 202 Hyatt St., from its old base in Mt. Vernon, N.Y. As part of the move, the company will add 247 jobs and invest $3.5 million in the facility.
CHARLOTTE, N.C. — KBS Realty Advisors has leased 86,660 square feet of space in its 496,406-square-foot Crossroads Distribution center in Charlotte, bringing capacity of the property to 100 percent. Brad Cherry of Keystone Partners represented Moulding and Millwork in its 63,240-square-foot lease. Piedmont National, represented by Adam Eason of Trinity Partners, leased 23,460 square feet. Lane Holbert, Barb Jespersen and John Wharton served as in-house representation for KBS.
TROY, MICH. — Ronal Industries has leased 27,280 square feet of industrial space, which is located at 1400 Allen in Troy, for an undisclosed price. The company, which is a defense contractor, plans to use the property to develop military vehicles. Matthew Osiecki and Lauren Scarpace of CB Richard Ellis represented the landlord, First Industrial, in the transaction.
WESTFIELD, MASS. — Braintree, Mass.-based Campanelli Cos. has sold a fully permitted, 71.67-acre site located in Westfield to The Home Depot U.S.A. Inc. for $5.76 million. The site is situated within the 130-acre Campanelli Business Park of Westfield. The Home Depot plans to construct an approximately 650,000-square-foot rapid distribution center on the site that will serve the company's Northeast region. The transaction also includes a fully executed tax increment financing agreement related to the project. The construction timetable was not released.
ALLENTOWN, PA. — Insulation manufacturer fiberAmerica has held the ribbon cutting ceremony to mark the opening of its new 61,000-square-foot manufacturing facility in Allentown. The building is located at 7072 Snowdrift Rd., and it will be used to produce the company's environmentally friendly, cellulose fiber insulation products.
CLEVELAND — Andy Burgess of Infinite Capital has assisted Cleveland-based Musca Properties in the $17.12 million acquisition of investment-grade properties in Ohio. The properties include a Home Depot in Macedonia, a Walgreens in Lyndhurst and a Walgreens in Beavercreek. The seller was not disclosed.
WILMINGTON, MASS. — The RAM Companies has purchased a 100,000-square-foot industrial property located in Wilmington. The Class A facility is situated at 234 Ballardvale St. Tenants include Aramark Corp., Arnold Sales/Bimbo Bakeries and Advanced Imaging. Newmark Knight Frank's Boston office has been retained by RAM to lease the remaining 25,000 square feet of space. The seller and the acquisition price were not released.
LEBANON, TENN. — Nashville, Tenn.-based T.W. Frierson will start construction this month on a 120,000-square-foot operations facility for Permobil, a wheelchair manufacturer based in Timra, Sweden. The property, located in Park 840 in Lebanon, will include 80,000 square feet of manufacturing space and 40,000 square feet of office space. Permobil will move into the property from its existing Lebanon facility, which is half the size of the new development. The company expects to double its workforce in the next 3 to 5 years. Lebanon-based Manous Design is building the facility to green specifications, which include a solar panel array and the use of bamboo and other recyclable materials. Completion is expected next summer.