POMONA, CALIF. — Andy Hu of Daum Commercial Real Estate Services represented both parties in the disposition and acquisition of a 12,524-square-foot industrial building in Pomona. Perfect Design Inc. sold the property to Kimberly Xu for $1.43 million. The property is located at 1928 W. Holt Ave.
HANOVER, MD. — Scheer Partners Inc. has negotiated a multi-year lease in Hanover for Eaton Corp., a Cleveland, Ohio-based diversified power management company. Eaton will consolidate their two Maryland locations at 9204 Berger Road in Columbia, Md., and 6671 Santa Barbara Road in Elkridge, Md., to occupy the new 50,850-square-foot distribution building at 7451 Coca Cola Drive. Custom build-out for Eaton’s new facility is slated for spring 2010, and is part of a three-building, 725,000-square-foot industrial park. Mike Norris of Scheer Partners’ Tyson Corner, Va., office represented Eaton in the lease transaction. Lincoln Property Co. negotiated on behalf of the landlord, a joint venture of Lincoln, Invesco and NYSTERS.
ROANOKE, VA. — Coca-Cola Bottling Co. has signed a long-term lease on a 75,000-square-foot industrial warehouse in Roanoke. Located in Valley Gateway Business Park, the expansion and investment is valued at $9 million. Doug Wright and Dennis Cronk of Roanoke, Va.-based Poe & Cronk Real Estate Group represented the owner, Roanoke Gateway.
EAST MOLINE, ILL. — Douglas Longyear of NAI BT Commercial’s San Francisco office represented both undisclosed parties in the disposition and acquisition of a FedEx Freight warehouse/distribution facility, which is located at 5005 Morton Dr. in East Moline. The 211,832-square-foot property sold for $19.25 million or $91 per square foot.
ROSENBERG, TEXAS — Biotics Research Corp. has announced plans to complete a $2 million expansion of its 42,000-square-foot facility located in Rosenberg. The addition will total 35,000 square feet and will expand the company’s existing manufacturing and warehouse operations at the site. The City of Rosenberg and the Fort Bend County Commissioners’ Court also approved tax abatements for the project. The construction timetable was not disclosed.
STOCKTON, CALIF., AND LAS VEGAS — Orange County, Calif.-based Bixby Land Co. has completed its $400 million portfolio repositioning with the acquisition of two properties in California and Nevada. In California, the company purchased a 264,000-square-foot industrial building, which is located at 4114 S. Airport Way and 1425 Industrial Dr. in Stockton, for an undisclosed price. Current tenants include Dana Structural Products, Technical Consumer Products and Mike Campbell & Associates. In Nevada, Bixby acquired a 130,000-square-foot industrial property, which is located at 4875 E. Cheyenne Ave. in Las Vegas, from Panattoni Development for an undisclosed amount. The property is currently 100 percent leased through 2017 to Johnston Supply, a wholesale distributor in HVAC/R equipment. Starting in 2006, Bixby began restructuring its portfolio by selling off non-strategic assets and using 1031-exchange funds to assemble an institutional quality, industrial and R&D portfolio.
VALPARAISO, IND. — Jones Lang LaSalle (JLL) has arranged the $15.2 million sale-leaseback of a corrugated box manufacturing facility located in Valparaiso. Situated at 3155 State Road 49, the 506,650-square-foot facility was constructed in 2002 and is one of the world’s largest corrugated box manufacturing buildings. It features two 110-inch BHS corrugators and nine finishing machines. It is occupied by Conyers, Ga.-based Pratt Industries, which executed a long-term leaseback of the property upon its sale to Chicago-based FT & NW Investments. JLL’s Matthew
ELK GROVE VILLAGE, ILL. — Moss Inc. has selected Meridian Design Build to complete a renovation of a 104,930-square-foot industrial building the company recently leased at 2600 Elmhurst Rd. in Elk Grove Village. Meridian will renovate the building to accommodate manufacturing and warehousing operations for Moss. Process electrical wiring, process ventilation and compressed air distribution will all be installed; a climate-controlled, 4,000-square-foot print room will be constructed; and a fully enclosed interior loading dock area will be built. The construction timetable was not released. Moss is leasing the property from Mirvac Industrial Trust.
CHESTERFIELD, MICH. — Troy, Mich.-based L. Mason Capitani/CORFAC International (LMC) has brokered the sale of a 750,000-square-foot industrial complex, located at 26090 Twenty-Three Mile Rd. in Chesterfield. LMC’s Joe DePonio and Jason Capitani represented the seller, Cadence Innovation. The undisclosed buyer plans to use the property as warehouse and distribution space. The purchase price was not disclosed but the property listed for $10 million. DePonio also brokered Cadence Innovation’s original purchase of the property in 2005. This most recent sale marks the seventh property in an 11-property portfolio that Cadence Innovation enlisted LMC to sell. The other four properties are located in Clinton Township, Fraser, Grand Blanc and Hillsdale, Mich.
MICHIGAN CITY, IND. — Grubb & Ellis | Cressy & Everett has arranged two industrial sales in Michigan City. In the first transaction, Mulhern Realty Corp. purchased a 50,828-square-foot property located at 910 Highway 212. Christopher Davey of Grubb & Ellis represented the undisclosed seller. Davey again represented the undisclosed seller in the disposal of a 17,000-square-foot industrial building located at 600 Lumber City Rd. The buyer was Mersino Properties Co. The acquisition price was undisclosed in both transactions.