MONROE, OHIO — Vandercar Holdings, acting as owner and developer of the Corridor-75 Premier Logistics Park in Monroe, has begun construction on Spec Building #2 as well as the entrance road to the park. The new entrance road, which is being constructed by John R. Jurgensen Co., will be five lanes wide, and will run between the nearly completed 650,000-square-foot Home Depot rapid deployment center and the 650,000-square-foot Spec Building #2. Paul Hemmer Co. is the general contractor for both projects in the industrial center. Corridor-75 Premiere Logistics Park has a total of 1.3 million square feet of space currently under construction.
HAYWARD, CALIF. — Berkley, Calif.-based Watson Setzer Real Estate Partners LLC has acquired Breakwater Industrial Center, a 58,400-square-foot industrial park in Hayward, for $8.25 million. Located at the intersection of Breakwater Court and Clawiter Road, the property consists of improved warehouse and office space. Built in 1974 by the seller, Weyerhaeuser Company, the facility was used as the company’s regional distribution and customer service center. Greig Lagomarsino and Brady Thomas of Colliers International represented both parties in the transaction.
NEENAH, WIS. — NAI MLG Commercial has arranged the purchase of a 10,794-square-foot industrial facility located at 2340 Industrial Dr. in Neenah. Jeta Corp. has acquired the building, which is situated on a 1.38-acre site, for an undisclosed amount. The company purchased the facility in order to consolidate several locations and allow for expansion.
POMONA, CALIF. — Seventh Street Development has sold three industrial buildings within its newly built Mission-71 Business Park in Pomona for a total consideration of $9.3 million. Benik LLC, a shoe importer, acquired a 23,000-square-foot building; Wira Corp., an Indonesian food distribution company, purchased a 22,000-square-foot building; and Zion International Enterprise Inc. acquired a 16,000-square-foot facility. All three buildings feature 24-foot clear heights, 2,293 square feet of ground-floor and mezzanine office space, and dock-high and ground-level truck doors. Tony Phu of Colliers International represented Benik LLC; Sonny Tan of Pacific Coast Real Estate represented Wira Corp. and Zion International Enterprise Inc. Barbara Emmons, Lynn Know, John Privett and Lyn Eisenhower of CB Richard Ellis represented Seventh Street Development in all the building sales. Additionally, Seventh Street Development received planning commission approval to develop a three-building, 213,000-square-foot second phase at Mission-71 Business Park.
RANCHO DOMINGUEZ AND COMPTON, CALIF. — First Industrial Realty has acquired a 30,284-square-foot industrial building, which is located at 18408 Laurel Park Rd. in Rancho Dominguez. Fortune Small Business LLC sold the property for $5.7 million. Don Smith of Lee & Associates’ Los Angeles South Bay office represented both parties in the transaction. Additionally, Fortune Small Business LLC has purchased a 28,350-square-foot industrial space, which is located at 1031 S. Santa Fe Ave. in Compton. The property sold for $3.3 million. Smith represented the buyer, while Ok Kim and David Jo of Coldwell Banker Los Angeles represented the undisclosed seller.
NOBLESVILLE, IND. — Jeremy Woods of Summit Realty Group has represented Meritex Enterprises in the acquisition of 51.8 acres of land for a multi-tenant industrial development in Noblesville. The 537,000-square-foot Noblesville Business Center will offer distribution and office/warehouse spaces ranging from 5,000 to 150,000 square feet in size. Located within the Noblesville Corporate Campus, the project is scheduled to commence January 2009. Woods will be responsible for leasing the facility. The acquisition price was not disclosed.
BILLERICA, MASS. — CB Richard Ellis (CBRE) has negotiated the sale of an 87,200-square-foot warehouse facility located at 159 Rangeway Rd. in Billerica. Situated on 6.95 acres, the facility contains 12,000 square feet of office space, with the remaining space devoted to warehousing. It is currently fully leased to Hyster New England, which occupies the building on a long-term basis. Gary Lemire and Patrick Cavanagh of the CBRE Capital Markets team represented the seller, Billerica Rangeway LLC, and procured the buyer, The Hampshire Companies. The acquisition price was not disclosed.
HOUSTON — Glazier Foods Co. (GFC) has sold its 286,000-square-foot headquarters and distribution facility in a sale/leaseback transaction to Houston-based GSL Welcome Group. The headquarters is situated on approximately 33 acres at 11303 Antoine Dr. in Houston. GFC has subsequently commenced construction of a $14 million expansion to the facility, which will add 160,000 square feet to the freezer and dry storage areas. Construction is expected to be complete within 1 year. GE Capital provided financing for the acquisition and the expansion. The acquisition price was not disclosed.
NAPLES, FLA. — Morris Southeast Group/CORFAC International has arranged the sale of a 110,000-square-foot industrial manufacturing facility within the Creekside Business Park in Naples. Arthrex of Naples has acquired the building, which is located at 1250 Creekside Parkway West, from United Kingdom-based Hellermann Tyton Corp. for $9.5 million. Situated on a 6.3-acre site, the building is the largest industrial manufacturing facility in Naples. Ken Morris of Morris Southeast Group/CORFAC International and James Southey of United Kingdom-based King Sturge — CORFAC International’s European strategic alliance partner — brokered the transaction.
BALTIMORE — Kenneth Gentzel of NorthMarq Capital’s Washington, D.C., office and Joseph Burke of the company’s Baltimore office have arranged $5.35 million in first mortgage financing for the acquisition of a 100,000-square-foot flex facility in Baltimore. Financing for the property, which is located at 5601 Metro Dr., was based on a 10-year term, with a 30-year amortization schedule. The loan was arranged by NorthMarq through its relationship with Woodmen of the World Life Insurance Society. The borrower was not disclosed.