Industrial

CBRE BROKERS 15-PROPERTY INDUSTRIAL PORTFOLIO SALE

by admin July 10, 2008

CHERRY HILL, N.J. — CB Richard Ellis (CBRE) has brokered the sale of the Cherry Hill Business Park portfolio in Cherry Hill. The portfolio contains 15 properties located along Springdale Road within Cherry Hill Business Park that total 737,392 square feet of warehouse, flex and retail/showroom space, as well as two land parcels totaling 25 acres. The park’s tenants include B. Braun Medical, Avalon Carpet & Tile, Commerce Bank, Dal-Tile Corp., Cooper Lighting, International Paper and Aquahab. The undisclosed seller was represented by Michael Hines and Michael Blunt of CBRE’s Philadelphia office. The buyer was a partnership between Bala-Cynwynd, Pa.-based Endurance RE Group and Assurant. The acquisition price was undisclosed.

July 10, 2008

350,000-SQUARE-FOOT BUILD-TO-SUIT DISTRIBUTION CENTER UNDERWAY

by admin July 10, 2008

TEJON RANCH, CALIF. — Clayco Inc. is developing a 350,000-square-foot build-to-suit distribution center for Famous Footwear, a retail division of Brown Shoe Company, in Tejon Ranch. Located within Tejon Industrial Complex, the 23.75-acre development parcel is situated within the recently approved Foreign Trade Zone. The trade zone was set up by a joint venture between Tejon Ranch Company and The Rockfeller Group Development Corp. The initial plans for the project call for a 350,000-square-foot distribution center with ample land remaining for future developments.

July 10, 2008

Industrial Southeast

IDI TO BUILD SUSTAINABLE INDUSTRIAL PROPERTY IN TAMPA

by admin July 9, 2008

TAMPA, FLA. — Upon completion in the second quarter of 2009, IDI’s 146,825-square-foot Madison Business Center Building D will be Tampa’s first Class A industrial property built to LEED certification standards. The building, located in the Madison Business Center off U.S. Highway 41 in Hillsborough County, will feature an irrigation design to reduce water consumption, among other sustainable elements. Also, recycling efforts will be enforced during construction, which is expected to begin in September.

July 9, 2008

Industrial Southeast

CLASS A WAREHOUSE IN MIAMI SUBURB SOLD

by admin July 9, 2008

DORAL, FLA. — Gateway Warehouse & Consolidators has sold a 17,000-square-foot, Class A warehouse, located in the Beacon Industrial Park at 10850 NW 30th St. in Doral, for $2.6 million. Servicios Agecom purchased the building. Edward J. Redlich of ComReal Miami represented the seller.

July 9, 2008

Industrial Midwest

VERUS PARTNERS ARRANGES 182,000-SQUARE-FOOT INDUSTRIAL LEASE

by admin July 9, 2008

WHITESTOWN, IND. — Verus Partners has leased 182,000 square feet of distribution space located at 5100 Indianapolis Blvd. in Whitestown to Pitney Bowes. As the world’s largest provider of mailstream solutions, Pitney Bowes will generate 150 new employment opportunities in the area. The facility, which is situated within Verus Partners’ 624,000-square-foot industrial park, will host Pitney Bowes’ main supply and return hub for postage meter equipment. Features of the property include 36-foot clear ceiling height, cross-dock loading and abundant trailer parking.

July 9, 2008

Industrial Northeast

TRAMMELL CROW RECEIVES APPROVAL FOR 44-ACRE BUSINESS PARK

by admin July 9, 2008

PISCATAWAY, N.J. — Trammell Crow Co. has received approval from the township of Piscataway for the construction of Piscataway Business Center, two-building industrial development located in Piscataway. Situated on 44 acres at the intersection of South Washington Avenue and Centennial Avenue, the industrial project will contain two buildings totaling 538,800 square feet. Piscataway Business Center 1 will contain 307,800 square feet and Piscataway Business Center 2 will contain 231,000 square feet. Each building will feature 36-foot clear ceiling heights, ESFR sprinkler systems, wide truck courts with trailer storage and more than 550 parking spaces. Construction is expected to begin in spring 2009. Mindy Lissner, Lou Belfer and Stacey Weinberg of CB Richard Ellis’ New Jersey office will handle leasing for the park.

July 9, 2008

Industrial Texas

JV ACQUIRES 772,500-SQUARE-FOOT DISTRIBUTION PROPERTY

by admin July 9, 2008

LA PORTE, TEXAS — A partnership between Colorado-based Mountain West Industrial Properties and Galveston, Texas-based American National Insurance Co. has acquired Bayport N. Distribution Center II, a two-building industrial property located in La Porte. The recently constructed project is situated at the intersection of Fairmont Parkway and Underwood Drive, and includes two cross-docked facilities measuring 600,000 and 172,500 square feet. The recently constructed property was 17 percent pre-leased at the time of closing. It was acquired from the developer, Vantage Cos., which has been retained to manage and lease the property. The acquisition price was undisclosed.

July 9, 2008

Industrial Western

CITY OF LA MIRADA TAKES 24,860-SF INDUSTRIAL PROPERTY

by admin July 9, 2008

LA MIRADA, CALIF. — The city of La Mirada has acquired a 24,860-square-foot industrial building in La Mirada for $3.4 million. Located at 14515 Alondra Blvd., the freestanding, one-story property offers access to the 5 and 18 freeways. E.W. Sparr Family Trust and FSB First American Trust, both private investors based in Santa Ana, Calif., sold the property. Rob Socci and Peter Castleton of Voit Commercial Brokerage’s Anaheim, Calif., metro office represented both parties in the transaction.

July 9, 2008

Industrial Southeast

CLEARWATER BUILDINGS SOLD

by admin July 8, 2008

CLEARWATER, FLA. — First Industrial has sold its 18,500-square-foot flex building, located at 4908 Creekside Dr. in Clearwater, to Kashi Groves, for $2.4 million. Scott Clendening and Baharea Saffary of Commercial Partners Realty represented the buyer. Clendening and Saffary also represented Madison Realty Capital in its sale of the 13,950-square-foot office complex Villages at Countryside, located at 26338 U.S. Highway 19 N. in Clearwater, to 26338 U.S. Highway, LLC, for $1.4 million.

July 8, 2008

Industrial Southeast

JACKSONVILLE INDUSTRIAL BUILDING PURCHASED

by admin July 8, 2008

JACKSONVILLE, FLA. — Exeter Property Group purchased an 85,259-sqaure-foot industrial building in EastPark Business Center, located at 11902 Central Pkwy. in Jacksonville, from Tech Packaging. The seller will continue to operate its corporate headquarters from the property. John Richardson and Dan Stover of Grubb & Ellis|Phoenix Realty Group represented the seller.

July 8, 2008

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