GRIFFIN, GA. — As part of a move from its current headquarters in Norcross, Ga., Norcom has purchased the 200,000-square-foot Cooper-Standard building from an undisclosed party for $4 million. The company had leased the Cooper-Standard building, located in the Griffin-Spalding Industrial Park in Griffin, for the past few months and decided to purchase the property with the help of the Griffin-Spalding Development Authority. The move is expected to create 285 new jobs.
DOVER, OHIO — Cleveland-based Olympic Steel has acquired a two-building industrial complex totaling 95,091 square feet in Dover. The property, which has frontage on Interstate 77, was acquired from a private seller for $3.48 million. The facility is equipped with truck maintenance bays, executive offices and docks, as well as a 20-ton crane situated within the building. Matthew Beesley and Rico Pietro of Cleveland-based CRESCO Real Estate represented the seller in the transaction.
SOUTH HACKENSACK, SOMERSET AND NEW PROVIDENCE, N.J. — Morristown, N.J.-based The Hampshire Companies has acquired three New Jersey properties on behalf of Hampshire Partners Fund VII, the company’s institutional real estate investment fund. In South Hackensack, Hampshire acquired a 107,730-square-foot industrial building located at 490 Huyler St. The seller was Huyler Realty. Stuart Alpert of Keller Realty represented Hampshire in the transaction. In Somerset, Hampshire acquired an 85,000-square-foot office building located at 19 Schoolhouse Rd. The sellers were Provident Partners and Provident Sunnyside NJ. Finally, in New Providence, Hampshire acquired a 51,000-square-foot industrial building in a joint venture with Tulfra Realty Co. The property is situated on more than 2 acres at 705 Central Ave. The seller was the borough of New Providence. The acquisition prices in all three transactions were undisclosed.
NEWPORT BEACH, CALIF. — GE Real Estate has provided a $63 million, 3-year loan to Koll/PER, a partnership between Newport Beach-based The Koll Company and the Public Employee Retirement System of Idaho. The financing will be used to refinance a nine-property Class B office and industrial portfolio in Arizona, California and Texas. Properties in the 744,851-square-foot portfolio are located in Houston, Dallas, Phoenix, Los Angeles and Orange County, Calif. CS Capital Management Inc. serves as advisor to the Public Employee Retirement System of Idaho.
PHOENIX — HD Supply Facilities Maintenance Inc. has signed a lease for warehouse/industrial space at Buckeye Logistics Center, which is located at 6825 W. Buckeye Rd. in Phoenix. The company will lease 174,769 square feet of a 380,740-square-foot building, which is part of the two-building industrial complex. The company plans to relocate from its current facility in January 2009. Greg White of CB Richard Ellis represented the tenant; Pat Harlan, Steve Sayre and Katy Boyd of Cushman & Wakefield of Arizona Inc. represented the landlord, Des Moines, Iowa-based Principal Global Investors, in the transaction. The value of the transaction was not released.
RURAL HALL, N.C. — Boston-based STAG Capital Partners has acquired a 250,000-square-foot warehouse, located at 300 Forum Pkwy. in Rural Hall, from Highwood LP for an undisclosed amount. The property, which was built in 1993, is 100 percent leased to Sonoco Products Co. John Schultz and Hap Royster of Greensboro-based Triad Commercial Properties represented the seller.
NASHVILLE, TENN. — Becker Properties has sold a 182,000-square-foot warehouse, located at 660 Massman Dr. in Nashville, to Holladay Properties for $3.15 million. Ronnie Wenzler of Colliers Turley Martin Tucker-Nashville represented the seller.
POMPANO BEACH, FLA. — Les Byron of Sperry Van Ness Commercial Realty’s Forth Lauderdale, Fla., office brokered two industrial sales in Pompano Beach totaling 26,800 square feet. Byron represented an undisclosed party in the sale of a 10,000-sqaure-foot building, located at 2521 N.E. 4th Ave., to Pierre Brunet for $1.07 million. In Southern Services’ recent purchase of a 16,800-square-foot warehouse, located in McNab Industrial Park at 2171 S.W. 10th St., for $2 million, Byron represented the undisclosed buyer.
NORTH AURORA, ILL. — Summit Design + Build has completed construction of Alpha Baking Co.’s 19,055-square-foot distribution facility located at 501 Overland Dr. in North Aurora. The new building is situated on a 3.5-acre site within the Tollway Park of Commerce. PEAK Development recently sold the facility to a private investor for $4 million. As part of the build-to-suit transaction, Alpha Baking Co. has signed a 10-year lease for the entire building. The facility features 1,845 square feet of office product, 17,210 square feet of warehouse space, 39 exterior docks and 31 parking stalls. Architectural services for the project were provided by Harris Architects Inc.
HAVERHILL, MASS. — Winchester, Mass.-based Klemmer Associates has brokered the lease of 91,550-square-foot of manufacturing space at 20 Computer Dr. in Haverhill. The facility will be occupied by Southwick Clothing, which was recently purchased by Retail Brand Alliance, the owner of the Brooks Brothers brand. Greg Klemmer and Ted Geary of Klemmer represented the landlord, Suffolk Advisors. The tenant was represented by Brad Spencer of Grubb & Ellis. Terms of the lease were not disclosed.