Industrial

COLLIERS L&A NEGOTIATES $5 MILLION INDUSTRIAL SALE

by admin July 29, 2008

THOROFARE, N.J. — Philadelphia-based Colliers Lanard & Axilbund has negotiated the sale of a 98,608-square-foot industrial property, located at 1450 Grandview Ave. in Thorofare, for $5 million. Situated on 8.16 acres within the 645-acre Mid-Atlantic Industrial Park, the building contains 12,000 square feet of office space, tailgate and drive-in loading, and parking for 100 cars. Marc Isdaner and Larry Bergen of Colliers negotiated the transaction. Financing was provided by M&T Bank. The buyer and seller were undisclosed.

July 29, 2008

AVNET BUILDING SELLS FOR $35.2 MILLION

by admin July 29, 2008

CHANDLER, ARIZ. — Los Angeles-based FORT Properties has purchased the newly completed Avnet Building, which is located at 6700 W. Morelos Pl. in Chandler, for $35.2 million. Situated within Chandler Freeways Business Park, the 230,000-square-foot industrial property is fully leased by Phoenix-based Avnet Inc. Ryan/Pilgrim Investments Chandler Freeways LLC, an entity led by Ryan Companies US Inc., sold the property. Chris Toci, Ted Harrison, Mark Detmer and Bo Mills of Cushman & Wakefield of Arizona Inc. negotiated the transaction. Robert Alter of FORT Properties provided in-house representation for FORT Properties. Jeff Majewski of CB Richard Ellis Capital Markets arranged financing through Wachovia Bank.

July 29, 2008

Industrial Western

COLLIERS INTERNATIONAL BROKERS $1.16M INDUSTRIAL BUILDING SALE

by admin July 29, 2008

PHOENIX — Phoenix-based Detail Design and Fabrication has purchased a freestanding industrial building, which is located at 4635 S. 33rd St. in Phoenix, for $1.16 million. Situated on approximately 22,050 square feet of land, the 8,817-square-foot facility offers 3,000 square feet of office space. LGE Design built the property in 2000. Evan Koplan, Mike Parker and John Soldo of Colliers International’s Scottsdale, Ariz., office represented the buyer; Darryl Szarka of DKS Development represented the sellers, Richard and Linda Gramhill of Phoenix.

July 29, 2008

Industrial Midwest

IDI’S BOLINGBROOK IV BUILDING BECOMES SILVER LEED-CERTIFIED

by admin July 28, 2008

BOLINGBROOK, ILL. — Atlanta-based IDI has become the first industrial real estate developer in the Chicago market to achieve the U.S. Green Building Council’s LEED certification for its speculative warehouse/distribution facility in Bolingbrook. The 102,936-square-foot Building IV at Bolingbrook Corporate Center has received silver-level LEED certification. Additionally, IDI has submitted two nearly complete speculative buildings — the 453,090-square-foot Bolingbrook Corporate Center West Building II and the 339,741-square-foot Rock Run Business Park Building IX — for LEED certification. This summer, the company also plans to submit its 470,000-square-foot facility at Antioch Corporate Center for LEED Certification. Sustainable features of the facilities include reduced water usage for irrigation, highly efficient make-up air units that improve indoor air quality and naturalized stormwater management systems.

July 28, 2008

Industrial Midwest

DARWIN REALTY & DEVELOPMENT ARRANGES LEASE WITHIN OAKVIEW CORPORATE PARK

by admin July 28, 2008

WEST DUNDEE, ILL. — Noel Liston and Richard Daly of Darwin Realty & Development Corp. represented Opus North Corp. in the long-term lease of 50,000 square feet within Opus’ first speculative facility in Oakview Corporate Park. Plastival Inc. has leased the space within the 154,475-square-foot Oakview Building I, which is located in West Dundee. The property will be used as a distribution hub for Platival’s PVC railing and fencing systems. Oakview Corporate Park is a 75-acre master-planned business park being developed by Opus North Corp. Eric Tresslar and Adam Marshall represented the tenant, Plastival Inc., in negotiations.

July 28, 2008

Industrial Northeast

MERICLE ADVANCING CONSTRUCTION FOR 10 SPEC PROJECTS

by admin July 28, 2008

WILKES-BARRE, PA. — Wilkes-Barre-based Mericle Commercial Real Estate Services is advancing construction for seven speculative industrial buildings totaling 1.1 million square feet, and is currently completing site work for three more projects totaling 700,000 square feet. Eight of the buildings are located within CenterPoint Commerce & Trade Park East in Pittston, Pa. Additionally, a 410,000-square-foot, rail-served facility in Hazelton, Pa., is ready for tenant occupancy; and a 41,344-square-foot office building in Wilkes-Barre will begin construction later this year. Rental rates for the properties start at $4 per square foot, triple net.

July 28, 2008

Industrial Western

ASTRONIC INC. ACQUIRES 73,742-SQUARE-FOOT INDUSTRIAL FACILITY

by admin July 28, 2008

ALISO VIEJO, CALIF. — Astronic Inc., a full-service electronic manufacturing service provider, has purchased a 73,742-square-foot industrial facility, which is located at 2 Orion in Aliso Viejo, for $13.2 million. The company plans to relocate its headquarters to the new facility in first quarter 2009. Jeff Mitchell of Voit Commercial Brokerage’s Irvine, Calif., office represented the buyer; Gary Allen of Grubb & Ellis represented the seller, Tamiya America, a Japanese manufacturer of model and radio-control cars, trucks and tanks.

July 28, 2008

Industrial Midwest

REVIVA LOGISTICS WAREHOUSE/DISTRIBUTION CENTER EXPANDS

by admin July 25, 2008

AURORA, ILL. — Reviva Logistics has expanded its space by 62,860 square feet within one of HSA Commercial Real Estate’s buildings in Distribution Center Phase II, which is located at 1203 Bilter Rd. in Aurora. Reviva Logistics, which originally signed a 5-year lease for 231,880 square feet of warehousing and distribution space within the facility, has taken over the remainder of the building. The building includes 30-foot clear ceilings, as well as multiple docks and drive-in doors. Mark Montana of CRESA Partners represented Reviva Logistics; Charles Canale and Carter Andrus of Colliers Bennett Kahnweiler represented HSA Commercial Real Estate in the transaction. Reviva is expected to expand into its new space in August.

July 25, 2008

Industrial Northeast

MONMOUTH SELLS INDUSTRIAL FACILITY FOR $4 MILLION

by admin July 25, 2008

RAMSEY, N.J. — Monmouth Real Estate Investment Corp. has sold a 44,719-square-foot industrial property, located at 565 E. Crescent Ave. in Ramsey, for approximately $4 million. The building is presently occupied by Bogen Imaging. The property was acquired by a partnership that includes Delaware-based HSM Acquisition Partners. Monmouth first acquired the property nearly 40 years ago.

July 25, 2008

Industrial Western

JV COMPLETES 21-BUILDING INDUSTRIAL COMPLEX

by admin July 25, 2008

HAWTHORNE, CALIF. — MS Kearny Northrop Avenue LLC, a partnership led by Kearny Real Estate Capital and Morgan Stanley Real Estate Fund V, has completed the construction of a 21-building industrial complex, totaling more than 203,000 square feet, located within Kearny’s Century Business Center in Hawthorne. The $45 million project comprises 21 buildings, which range in size from 5,700 to 20,700 square feet, featuring 24-foot clear ceiling heights, ground-level loading, individual fenced yards and office build-outs up to 2,000 square feet. Additionally, all the buildings are located within a 24-hour security, gated complex. Jeff Kernochan of Fischer Corporate Real Estate Services has been retained to market the property.

July 25, 2008

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