LEE’S SUMMIT, MO. — Grindstone Industrial Properties has brokered the sale of a 24,300-square-foot industrial property, located at 1260-1292 NW Sloan St. in Lee’s Summit. Pat Murfey of Grindstone represented the seller, Portico Properties. Roanoke 31 Partners purchased the property for an undisclosed amount.
Industrial
CLIFTON, N.J. — The Morris Companies has leased a 230,953-square-foot industrial building, located at 261 River Rd. in Clifton, to a global manufacturer. The building features 193,593 square feet of warehouse/distribution space, 32,996 square feet of corporate office space and 4,364 square feet of warehouse office space. Amenities include 36-foot clear ceiling heights, 25 cross-docked tailgates and two drive-in doors. The tenant plans to consolidate three of its existing northern New Jersey facilities into the new location. Stan Danzig, Stephen Elman, Noah Balanoff and Robert Adams of Cushman & Wakefield represented the landlord, The Morris Companies. Thomas Carragher and Dan Foley of Studley represented the tenant. Terms of the lease were not disclosed.
PHILADELPHIA — Philadelphia-based Binswanger has brokered the sale of a 33,000-square-foot industrial building in Philadelphia. Located at 10049 Sandmeyer Lane, the property features crane service, 20-foot clear ceiling heights, four tailgate truck loading docks, four overhead drive-in doors and 10,000 square feet of office space. The buyer, Dixon Shane LLC dba R&S Northeast, acquired the property for $1.75 million and plans to use the facility as its corporate headquarters. Binswanger represented the seller, Collegeville, Pa.-based Monticello Granite Ltd.
ARLINGTON, TEXAS — Jim Hazard and Brett Heinen of Henry S. Miller Brokerage recently brokered the lease of a 60,000-square-foot industrial building located at 3715 E. Avenue E in Arlington. The tenant, Alpha Furniture, LLC, will expand its current space by 20,000 square feet when it relocates to the building. Don Conlon worked on behalf of the landlord, Gillis Thomas Co., in the transaction.
HOUSTON — Grubb & Ellis’ Houston office has completed the sales of two buildings in Houston. In the first transaction, Bill Burge and Mark Lehman of Grubb & Ellis represented Ron and Janice Avery in the sale of a 24,640-square-foot building located at 10535 Fisher Rd. in northwest Houston. Barrett Gibson and Granelo Realty Partners LLC represented the buyer, 10535 Fisher Road LLC. In the second, Katy RRV Partners LP purchased a 6,177-square-foot building from GreensPoint Mortgage Funding Inc. Keith Lloyd and Tony Ricci of Grubb & Ellis represented the seller of the property, which is located at 21308 Provincial Blvd. in west Houston. Chandresh K. Patel represented the buyer.
SMYRNA, TENN. — Murfreesboro, Tenn.-based Swanson Developments has acquired a 126,000-square-foot industrial property, located at 611 Enon Springs Rd. in Smyrna. The tilt-up, cross-docked facility is situated across from a Nissan auto manufacturing plant and was purchased from a Japanese corporation. Swanson is presently marketing it for lease to warehouse or manufacturing users. The acquisition price was not disclosed.
RIVIERA BEACH, FLA. — NAI Rauch, Weaver, Norfleet, Kurtz & Co. (NAI) has brokered the subleasing of 76,000 square feet of office and warehouse space, located at 1371 SW 8th St. in Riviera Beach. Palm Beach County will be subleasing the space for a 5-year term for the Supervisor of Elections. The sublease is valued at $1.52 million. The sublessor, Huttig Building Products, will continue to run its South Florida business operations out of a portion of the building. Randy Rauch of NAI represented Huttig; Bob Goldstein of Hospitality Consultants represented the County.
BELLINGHAM, MASS. — CB Richard Ellis Realty Trust has purchased a 238,370-square-foot newly completed warehouse/distribution building in Bellingham. The distribution center, which is located at 140 Depot St., is situated between Boston and Providence off I-495 and provides excellent access to I-95, I-93, and I-90. It is expandable and features pre-cast concrete construction, cross-docking, a 36-foot clear height, ESFR sprinklers and excess trailer parking. The Class A build-to-suit facility is fully leased to Best Buy Stores on a long-term lease. The retailer will use this facility primarily as a regional distribution center for home delivery of large items, as well as hosting a small service/repair center and providing dispatching and scheduling. The purchase price was undisclosed.
LAREDO, TEXAS — Lee & Associates has arranged the $500,000 sale of an 11,000-square-foot industrial property located at 514 Enterprise St. in Laredo. Evan McDonald and Steve Malley of Lee’s San Diego office represented the seller, U.S. Bank National Associates. The buyer, Property Management Group, utilized in-house representation. The acquisition price was not disclosed.
MOORPARK, CALIF. — George Eales of Daum Commercial Real Estate Services represented a family trust in the acquisition of a 32,233-square-foot industrial building, which is located at 5156 Commerce Ave. in Moorpark. The buyer’s family business, Pindler & Pindler Inc., currently occupies the property. York Moorpark Industrial sold the facility, which features dock-high and ground-level loading with 20-foot clearance, for $4 million. Mike Tingus and Scott Linklater of Lee & Associates represented the seller in the transaction.