CHESTERFIELD, MICH. — Troy, Mich.-based L. Mason Capitani/CORFAC International (LMC) has brokered the sale of a 750,000-square-foot industrial complex, located at 26090 Twenty-Three Mile Rd. in Chesterfield. LMC’s Joe DePonio and Jason Capitani represented the seller, Cadence Innovation. The undisclosed buyer plans to use the property as warehouse and distribution space. The purchase price was not disclosed but the property listed for $10 million. DePonio also brokered Cadence Innovation’s original purchase of the property in 2005. This most recent sale marks the seventh property in an 11-property portfolio that Cadence Innovation enlisted LMC to sell. The other four properties are located in Clinton Township, Fraser, Grand Blanc and Hillsdale, Mich.
Industrial
MICHIGAN CITY, IND. — Grubb & Ellis | Cressy & Everett has arranged two industrial sales in Michigan City. In the first transaction, Mulhern Realty Corp. purchased a 50,828-square-foot property located at 910 Highway 212. Christopher Davey of Grubb & Ellis represented the undisclosed seller. Davey again represented the undisclosed seller in the disposal of a 17,000-square-foot industrial building located at 600 Lumber City Rd. The buyer was Mersino Properties Co. The acquisition price was undisclosed in both transactions.
WOODINVILLE, WASH. — Mike Wood of NBS Financial Services arranged a $2.6 million loan for Underwood Gartland 216, a 71,750-square-foot warehouse/distribution center in Woodinville. The 5-year loan has a 25-year amortization schedule and a 43 percent loan-to-value ratio. Symetra Life Insurance Co. funded the loan for the borrower, Underwood Gartland 216 LLC.
GREENVILLE, OHIO — Greenville Technologies Inc. (GTI) has signed a lease for 26,000 square feet of space at the Corning Plant, located in Greenville. The company plans to use the space as a docking station to sequence and pack automotive parts. Tim Echemann of Industrial Property Brokers arranged the deal. The Corning Plant was acquired by Aaron Wright and Richard Kennedy in 2003 and subsequently redeveloped into a multi-tenant industrial complex. GTI’s lease brings the property up to full occupancy, but the owners have announced plans to build a 40,000-square-foot warehouse addition to the facility. The expansion will include 22-foot clear ceiling heights, three docks and T-8 lighting.
MENOMONEE FALLS, WIS. — Milwaukee-based Colliers Barry has brokered the purchase of a 6.62-acre industrial lot located in Menomonee Falls. The parcel is situated on Shawn Circle within First Park Menomonee Falls and was one of three lots available in the 55-acre park. David Buckley of Colliers Barry represented the seller, First Industrial Investment. Steven Provancher of MLG Commercial represented the buyer, CTA Investment. Terms of the transaction were not released.
CHICOPEE, MASS. — Colliers Dow & Condon has completed a long-term lease for 56,000 square feet of warehouse space in Chicopee. The property is located at 77 Champion Dr. and is owned by Concord, Mass.-based Winstanley Enterprises. Valor One signed a lease for the property worth more than $1 million. Nicholas Morizio, Rich Abo, of Colliers Dow & Condon, along with Kevin Jennings of Springfield, Mass.-based Jennings Real Estate, represented the landlord in lease negotiations. The tenant was represented by John Reed of CB Richard Ellis.
CHARLESTON, S.C. — Faro Services of Ohio has signed a lease for 50,000 square feet of warehouse space. The property is located at 330 Deming Way in Charleston. Michael Ferrer and Thomas Buist of Charleston-based Grubb & Ellis|Barkley Fraser represented the undisclosed landlord.
ORLANDO, FLA. — Dallas-based Southern Electric Supply Co., doing business as Rexel, has re-leased 75,580 square feet of warehouse space from Columbus, Ohio-based 33rd Street Properties. Located at 4658 and 4680 L.B. McLeod Rd. in Orlando, the property is part of the 33rd Street Industrial Center. Winter Park, Fla.-based York Property Co.’s Jeff York represented the tenant, and Michael Heidrich of NAI Realvest’s Maitland, Fla., office represented the owner.
ROCK ISLAND, ILL. — Davenport, Iowa-based NAI Ruhl & Ruhl Commercial Co. has completed a lease for 109,450 square feet of industrial space in Rock Island. The building is situated on a 10.59-acre site within Southwest Industrial Park. The lease includes a 10-year term with an extension option. NAI’s David Weiner and Rick Schaefer represented both undisclosed parties in lease negotiations.
GREENFIELD AND INDIANAPOLIS, IND. — Summit Realty Group has brokered two industrial sales in the greater Indianapolis area. In Greenfield, MPI Release leased 72,000 square feet of manufacturing space at 2162 N. Hastings Blvd. Summit’s Jeremy Woods represented the landlord, Vacumet. In Indianapolis, Solid Platforms purchased a 12,000-square-foot facility located at 8171 W. 10th St. Summit’s Ryan Kelly represented the buyer. Rob Lukemeyer of Baseline represented the seller, Four Square Co.