GUILFORD COUNTY, N.C. — The fitness equipment manufacturer Precor is planning a 225,000-square-foot warehouse in Rock Creek Center in Guilford County for $26.2 million. The facility will be fully operational and will be employ 142 workers by 2011. In addition to serving as a manufacturing facility, the property will house the Precor Strength Division. Construction of the building, which was made possible by a economic development grant from Guilford County, will be guided by LEED standards.
LAVERGNE, TENN. — Hewlett Packard has signed a lease renewal and expansion with Principal Real Estate Investors for 80,000 square feet of space in the Mid South Logistics Center. The company now occupies 380,000 square feet of the warehouse, located at 455 Industrial Blvd. in Lavergne. David McGahren, Doug Howard and John Ward of Colliers Turley Martin Tucker – Nashville assisted Principal Real Estate with the lease. Nashville Commercial Real Estate Services’ Terry Smith and Jerry Frazier represented the tenant.
ROMEOVILLE, ILL. — Construction is underway on the third spec facility being built within the Land and Lakes Bluff Point Business Park, which is located at the corner of Joliet Road and Bluff Road in Romeoville. On behalf of developer Land and Lakes Development Co., Meridian Design Build is serving as design/build general contractor for the project. Upon completion of the project, Bluff Point III Distribution Facility will measure 506,800 square feet in size. The multi-tenant building will include four drive-in doors, 30-foot clear ceiling heights, an ESFR Sprinkler System and 168 exterior docks with ample trailer parking. Peter Stadler and Ryan Brandush are handling the project for Meridian Design Build. The design team for the facility includes Harris Architects and Jacob & Hefner Associates. Jeff Kapcheck and Lynn Reich of Colliers Bennett & Kahnweiler are marketing the property. The estimated cost of completion was not disclosed.
EAST HARTFORD, CONN. — Hamden, Conn.-based Press/Cuozzo Commercial Services has brokered a 121,750-square-foot industrial sale in East Hartford for $3.6 million. The property comprises two distribution centers situated on 2 acres at 166 and 188-200 Prestige Park Rd. The buildings total 81,750 and 40,000 square feet; they feature 27-foot clear ceiling heights and a total of eight tailgate loading docks. Albert Scafati of Press/Cuozzo represented the buyer, 55 Pent Highway Associates. Nicholas Morizio of Colliers Dow & Condon represented the seller, A&M Cohen & Family.
LAKELAND, FLA. — Country View Realty and Development and Bridgewater Commercial Park LLC have finished construction on four warehouses totaling 10,800 square feet each. The buildings can each be divided into four units and feature roll-up doors and dock heights. The properties are located in Bridgewater Commercial Park in Lakeland, a site that can accommodate 10 more warehouses of comparable size.
ST. CHARLES, MO. — Air Products has selected Fountain Lakes Commerce Center, which is located at Interstate 370 and Elm Street in St. Charles, as the site for its new 269,837-square-foot production facility. Korte Construction is building the two-phased, $54 million project. The first phase of the project will consist of a 98,047-square-foot facility that is slated for completion by the middle of next year; the second phase will consist of a 171,790-square-foot facility that is scheduled to open in 2010. The Millstone Company is the owner and developer of the 475-acre Fountain Lakes Commerce Center. Tom Erman and Kevin McKeon of NAI DESCO represented Air Products in its acquisition of the 12-acre site. The new facility will allow Air Products to increase output of its membrane products by more than 50 percent. The company currently operates a membrane production facility at 11444 Lackland Ave. in St. Louis County. Upon completion of the new facility, the existing plant will continue to operate.
AURORA, ILL. — Atlanta-based IDI will develop a build-to-suit facility for Weinheim, Germany-based Freudenberg Household Products within its Prairie Point West Business Park, which is located at 2188 Diehl Rd. in Aurora. Freudenberg has signed a 10-year lease for the 525,000-square-foot building. Situated on a 28.5-acre parcel, the new facility will serve as Freudenberg’s North American headquarters, and will include space for the company’s manufacturing, distribution and administrative operations. The $30 million building will include a 35,000-square-foot office component, as well as 32-foot clear ceiling heights, 40 truck dock doors, parking for 350 cars and 30 truck stalls, which is expandable to 90. The city of Aurora is finalizing an incentives package for the project that includes a 10-year tax abatement of up to $1.5 million and a waiver of 75 percent of building permit fees during construction. George Cibula, Richard Daly and Joe Bronson of Darwin Realty & Development Corp. represented Freudenberg Household Products; Kirk Armour and David Prell of CB Richard Ellis represented IDI in the transaction. Freudenberg Household Products plans to move into its new facility by September.
YORK, PA. — York-based ROCK Commercial Real Estate has brokered the sale of a 7,100-square-foot industrial property located at 31-33 S. Seward St. in York. The property was acquired by York Habitat for Humanity. ROCK represented both parties in the transaction. The acquisition price was not disclosed.
DENVER — Denver-based ProLogis has closed a $104.7 million secured financing on behalf of an affiliate of ProLogis North American Industrial Fund II. The 10-year loan has a coupon of 6.38 percent and represents a loan-to-value of approximately 58 percent on five geographically diverse U.S. industrial properties. The company will use the proceeds to refinance a $62 million secured debt facility, which was set to mature January 2009, and pay down $42 million of the Citi bridge debt facility. These actions will reduce 2009 maturities in the fund by approximately $104 million.
ORLANDO, FLA. — MAS Cos. has purchased the 81,000-square-foot 8350 Parkline Regional Airport Center from West Palm Beach, Fla.-based McCraney Property Co. for $11.25 million. The sale of the Orlando industrial building also included an additional 6.4 acres of vacant land. NAI Realvest’s George Livingston and Christy Alexander represented the buyer, and David Murphy of CBRE Orlando represented MAS Cos.