EDWARDSVILLE, ILL. — Marcus & Millichap has arranged the sale of a 65,000-square-foot industrial facility located in Edwardsville. The building, which consists of 86 percent light manufacturing space and 14 percent office space, had a sales price of approximately $5.26 million. Roscoe Building LP has acquired the facility from Sovereign Investment Co. Zane Whiteley in the St. Louis office and Thomas Dolan in the Chicago office of Marcus & Millichap represented the seller; Joseph Linkogle in the Long Beach, Calif., office of Marcus & Millichap represented the buyer in the transaction.
Industrial
KETTERING, OHIO — Miller-Valentine Realty has brokered a lease for 303,000 square feet of industrial space located at 3535 Kettering Blvd. in Kettering. The landlord, Benz Family Trust, has leased the space to Harco Industries for an undisclosed amount. Steve Peters of Miller-Valentine Realty represented the tenant; Gerry Smith, also of Miller-Valentine Realty, represented the landlord in the transaction. The tenant will use its new facility to manufacture automotive brake components.
EDEN PRAIRIE, MINN. — Twin Cities, Minn.-based Welsh Cos. has arranged the acquisition of a 20,000-square-foot industrial facility located at 9855 Hamilton Rd. in Eden Prairie. Starkey Laboratories has acquired the property from an undisclosed seller for $2.07 million. Bill Ritter and Judd Welliver of Welsh Cos. represented the buyer in the transaction.
NORTHBOROUGH, MASS. — Jones Lang LaSalle has completed the sale of I-290 Industrial Park, located in Northborough, for $39 million. The six-building industrial park totals 576,930 square feet; also included in the sale is a development parcel with the potential for 45,000 square feet of new development. The park is tenanted by a mixture of manufacturing, distribution, research and development, and warehouse tenants. Catherine Daume, Scott Jamieson, Mike Smith, Gail McDonough and Rick Schuhwerk of Jones Lang LaSalle represented the seller, an institutional investor. The property was acquired by Cabot Properties.
SECAUCUS, N.J. — Secaucus-based Hartz Mountain Industries has leased 50,718 square feet of warehouse/distribution space in Secaucus. The property is located at 20 Enterprise Ave., and will be tenanted by Snatt USA, which will use the space as its North American headquarters. Snatt is an Italian third-party logistics provider. Representing Snatt USA in the lease transaction was Hasbrouck Heights, N.J.-based Chaus Realty. Terms of the lease were not disclosed.
HOUSTON — Cypressbrook Development Co. has acquired Interchange Business Center, a three-building, 102,278-square-foot industrial property located at 301-305 Wells Fargo Dr. in Houston. The property is situated on 7.71 acres at the corner of Interstate 45 and FM 1960. Tim Warren provided in-house representation for Cypressbrook in the transaction. The seller, K.B. Fund, was represented by Brian Gammill and Darryl Noon of Transwestern Commercial Services. The acquisition price was not disclosed.
CLEARWATER, FLA. — Severna Park, Md.-based Continental Business Development has sold a 42,250-square-foot, one-tenant warehouse, located on Ulmerton Road in Clearwater, to Boston-based Cabot Properties for $3.57 million. Mike Davis, Rick Brugge and Rian Smith of Cushman & Wakefield represented the seller in the transaction.
BRIGHTON, MICH. — Eberspaecher North America’s Brighton manufacturing facility will undergo $59.8 million in improvements to accommodate new EPA emissions reduction regulations aimed at the large truck market. In order to support the project, the Michigan Economic Growth Authority has approved a $7.4 million brownfield tax credit. The expansion will include acquisition and development of a contiguous 4.72-acre site, which will house 60,000 square feet of space for light industrial and warehousing operations.
INDIANAPOLIS — Summit Realty Group has represented Superior Packaging Co. in leasing 125,000 square feet of industrial space located at 4750 Kentucky Ave. in Indianapolis. The company is relocating and expanding its warehousing operations from its former Indianapolis property, which was located at 7901 W. 21st St. Fritz Kauffman of Collier Turley Martin Tucker represented the landlord, LIT Industrial Limited Partnership; Steve Schaub of Summit Realty Group represented Superior Packaging Co. in negotiations. The terms of the lease were not disclosed.
IRVING, TEXAS — Construction is under way for DFW/161 Distribution Center, a 374,000-square-foot speculative warehouse project located at the corner of Northgate Drive and Valley View Lane in Irving. Situated on 25 acres, the project comprises a three-building complex. The first phase will include the construction of 176,000- and 103,700-square-foot buildings. The larger building will be cross-docked, contain 30-foot clear ceiling heights, and be able to accommodate tenants needing 45,000 square feet of space or more. It will lease for $4.25 per square foot with a $5 per square foot tenant improvement allowance. The $24 million project is being developed by Atlanta-based Republic Property Co., which recently opened a new office in Irving.