EDWARDSVILLE, ILL. — Tom Dolan of Marcus & Millichap’s Chicago office and Zane Whiteley of the firm’s St. Louis office have brokered the sale of a 65,000-square-foot manufacturing facility located within the Gateway Commerce Center in Edwardsville. Sovereign Investments sold the property to a California-based tax exchange private investor for approximately $5.26 million. The single-tenant investment property was sold at a 7.2 percent rate, with regular rent increases scheduled throughout the lease term. Turner Electric Co. is the single tenant in the build-to-suit facility, which was completed for the company in April. Joe Linkogle in the Long Beach, Calif., office of Marcus & Millichap represented the buyer in the transaction.
MANGONIA PARK, FLA. — West Palm Beach, Fla.-based boat manufacturer Jeffrey Lichterman recently purchased more than 50,960 square feet of industrial space from Boca Raton, Fla.-based AR&M Management for $2.8 million. The property, located at 5455 Dexter Rd. in Mangonia Park, comprises a 20,000-square-foot metal warehouse and a 30,000-square-foot covered shed. Jeff Kelly and Robert Smith of CB Richard Ellis’s Boca Raton office were the transaction’s sole brokers.
BARTLETT, HUNTLEY AND ELGIN, ILL. — Nicholas Esposito and Chris Zannis of Arthur J. Rogers & Co. have completed three sales totaling more than 20,000 square feet in Northwest Illinois. In Bartlett, Glenwood Tool & Mold has acquired a 12,924-square-foot industrial facility located at 1251 Humbracht Circle. The firm is expanding and relocating from its previous headquarters in Elgin. Berkowitz Enterprises, which sold the facility for $930,500, was represented by Dan Brown of Brown Commercial Group. In Huntley, Esposito represented T & J Printing Supply in the acquisition of a 5,852-square-foot industrial building. The facility, which is located at 11451 Allison Ct., was sold by Bernat Development for $483,000. Joyce Harding of Paramount Commercial Properties represented Bernat Development in the transaction. Additionally, Zannis represented KNXS Equity LLC in the acquisition of a 2,014-square-foot office property located at 790 Fletcher in Elgin. The facility was sold by Black & Green Investments for $267,800. Kevin O’Donnell, Josh Schilb and John Miller of O’Donnell Commercial Real Estate represented Black & Green Investments in the transaction.
TWINSBURG, OHIO — First Industrial Realty Trust has acquired a 257,000-square-foot distribution center in Twinsburg through a sale/leaseback transaction with Consolidated Plastics Co. The facility, which is located at 8181 Darrow Rd., features 35-foot clear-height ceilings and dock-high doors. First Industrial will lease the space when Consolidated Plastics Co. relocates. Matt Beesley of CRESCO Real Estate represented First Industrial in the transaction. The acquisition price was undisclosed.
SHERRILL, N.Y. — CB Richard Ellis (CBRE) has completed the sale of an approximately 206,000-square-foot warehouse/distribution center located in Sherrill. The property, which is situated on approximately 34 acres of land at 100 Highbridge Hwy, traded for $5.75 million. Don Noland and John MacAffer of the Albany, N.Y., office of CBRE represented the seller, Oneida Ltd. The buyer, Equity Industrial Partners Corp., was represented by Hart Corp.
SAN DIEGO — Joshua Volen and Andrew John Slade of Marcus & Millichap represented the seller, HPC Properties, in the disposition of Bekaert Specialty Films I, an industrial warehouse building in San Diego. An undisclosed buyer acquired the 48,203-square-foot property, which is located at 4520 Viewridge Ave., for $10.55 million. Bekaert currently occupies the property under a triple-net lease. The company uses the facility to headquarter its Specialty Film Manufacturing division.
OAKLAND, CALIF. — 700 Independence Road LLC has purchased a 132,000-square-foot industrial building, which is located at 700 Independence Road in Oakland. The warehouse distribution facility is situated on a 5-acre land parcel. Casey Ricksen and Greig Lagomarsino of Colliers International represented both parties in the transaction. The seller and the acquisition price were not disclosed.
ATLANTA — Commonwealth Southeast’s 440,000-square-foot Braselton Logistics Center, the first industrial property in Atlanta to be built to Silver LEED standards, will deliver in the fourth quarter of this year. Located in the Braselton Distribution Center on Georgia Hwy. 124 near I-85, the property will feature a low-impact storm water design, high-efficiency heating and lighting and recycled building materials.
DURHAM, N.C. — New York City-based Crown West Realty has acquired the 325,000-square-foot CenterPoint Distribution Center, located at 1805 T.W. Alexander Dr. in Durham, from Illinois-based Medline Industries for $14.5 million. The Class A warehouse was built in 2000 and is 100 percent occupied by the medical suppliers Teleflex and Medline Industries. Chris Norvell of Colliers Pinkard’s Raleigh office represented the seller.
ALLEN, TEXAS — Boulder ORIX Net Lease has acquired a 261,700-square-foot, single-tenant industrial building located at 105 W. Bethany Dr. in Allen. The facility is situated on 13.65 acres and is fully occupied by Sanmina Texas. It features 32-foot clear ceiling heights, 18 dock doors and 512 parking spaces. The seller, New York City-based iStar Financial, was represented by Evan Stone, Cary Krier and Stephen Link of the Dallas office of Jones Lang LaSalle. Boulder ORIX Net Lease is a joint venture between Chicago-based ORIX Real Estate Capital and Northbrook, Ill.-based Boulder Net Lease Funds.