SUNNYVALE, CALIF. — Dividend Capital Group has purchased Lockaway Storage in Sunnyvale for $8.6 million. Located at 222 W. Ahwanee Ave., the 533-unit property consists of 45,500 rentable square feet. At the time of acquisition, the property was 90 percent occupied. Greg Wells of Grubb & Ellis|BRE Commercial represented the seller, Lockaway Storage, in the transaction.
TAMPA, FLA. — Miami-based S&K Properties has purchased a 128,000-square-foot warehouse, located in Sabal Park at 3402 Queen Palm Drive in Tampa, from EastGroup TRS for $5.99 million. Mike Davis, Rian Smith and Rick Brugge of Cushman & Wakefield represented the seller.
DORAL, FLA. — Alex Wiegandt and Alicia Willen of Miami-based Keyes Co. have brokered the complex stock transfer and asset sale of a 17,265-square-foot automotive industrial building from Kingston Financial of Canada to private buyers for $3.25 million. The transaction was financed by Sun America Bank.
JENKINS, PA. — Wilkes-Barre, Pa.-based Mericle Commercial Real Estate Services has arranged a 135,991-square-foot industrial lease for Portland, Maine-based The Emery-Waterhouse Company. The company will be locating its sales and distribution center within a 254,200-square-foot building located within CenterPoint Commerce & Trade Park East in Jenkins. William Hassan and Bill Wolf of CB Richard Ellis brokered the transaction, with Dan Walsh representing Mericle. Terms of the lease were not disclosed.
HANOVER, MD. — Columbia, Md.-based Rhee Bros. has purchased the 215,066-square-foot Lincoln Crossroads II, located at 7461 Coca Cola Dr. in Hanover, from Crossroads Venture for $18 million. The 30-foot clear, 50-dock facility will serve as Rhee’s headquarters and center of distribution. Scott Skogmo of Columbia, Md.-based Sperry Van Ness/Skogmo Commercial represented the buyer, and Dallas-based Lincoln Property Co.’s Merrill Turnbull represented the seller.
ORLANDO AND DAVIE, FLA. — The Fort Lauderdale office of Florida Bond and Mortgage has arranged three loans worth more than $10 million. In Orlando, Thrivent Financial for Lutherans provided $4 million in financing for the 83,683-square-foot warehouse at 3701 Vineland Rd. Southern Farm Bureau Life Insurance Co. financed a $3.53 million first mortgage for two industrial buildings, located at 4700-4800 S.W. 51st St. in Davie. Southern Farm also provided a $2.64 million first mortgage for two warehouses at 4701–4759 S.W. 51st St. in Davie.
ANN ARBOR, MICH. — Ann Arbor-based GDI Infotech Inc. and Terumo Cardiovascular Systems have announced plans to expand and relocate to its Ann Arbor location. GDI Infotech has launched a new solutions division, which is expected to create 233 jobs. Based on recommendations made by the Michigan Economic Development Corp., the Michigan Economic Growth Authority has approved a state tax credit valued at $1.5 million over 7 years for the expansion. Additionally, Terumo Cardiovascular Systems has plans to relocate its R&D operations from Tustin, Calif., to Ann Arbor. The project will include an addition of 14,000 square feet of space, as well as a new chemistry lab. To support the project, the Michigan Economic Growth Authority has approved a state tax credit valued at $855,000 over 7 years. Terumo Cardiovascular Systems will invest $3.57 million in the relocation and expansion.
CAROL STREAM, ILL. — Chicago-based Paine/Wetzel • ONCOR International has represented the landlord in leasing 112,110 square feet of industrial space within the Kehoe Business Center, which is located at 250 Kehoe Blvd. in Carol Stream. Situated on a 6.2-acre site, the newly constructed warehouse features 18 docks, two drive-in doors and 30-foot clear-height ceilings. Brighton-Best Socket Screw Manufacturing is relocating its sales and distribution center from Elk Grove Village, Ill., to the new building. Gregory Wright and Adam Naparsteck of Paine/Wetzel • ONCOR International represented the landlord, Seefried Properties Inc.; John Suerth of CB Richard Ellis represented the tenant in the transaction.
BOLINGBROOK, ILL. — On behalf of Casco Manufacturing, Westmont, Ill.-based Morgan Realty Partners has arranged the acquisition of an industrial facility located at 600 Territorial Dr. in Bolingbrook. Casco Manufacturing is relocating to the 12,981-square-foot building from its Downers Grove, Ill., facility. TCB Development sold the property for an undisclosed amount. Bill Waliewski of Morgan Realty Partners represented the buyer; Terry Grapenthin of Cawley Chicago represented the seller in the transaction.
SAN DIEGO — William Anderson and Matthew Brothers of Marcus & Millichap represented the undisclosed buyer in the acquisition of Bekaert Specialty Films II for $12.4 million or $170 per square foot. Located at 4540 Viewridge Ave. in San Diego, the property offers 72,862 square feet of industrial warehouse space. Bekaert has 3 years remaining on a triple-net lease structure with 3 percent annual increases. Joshua Volen and Andrew John Slade, also of Marcus & Millichap, represented the seller, which was not disclosed.
