WOODRIDGE, ILL. — Bill Waliewski of Morgan Realty Partners has completed two leases within Woodridge Commerce Centre, a three-building, 147,000-square-foot incubator complex located within Internationale Centre at 10204 Werch Dr. in Woodridge. The buildings, which contain spaces ranging from 2,400 square feet to 10,000 square feet in size, feature 18- to 20-foot clear ceiling heights, complete sprinkler systems, and individual truck docks or grade-level drive-in doors. The complex is owned by Principal Realty Investors; Morgan Realty Partners provides leasing and management. Charlotte, N.C.-based Etak Systems has leased 5,062 square feet of space for its expansion to the Chicago marketplace. Waliewsky represented the owner, Woodridge Commerce Centre LLC. Tim O’Leary of O’Leary Realty represented Etak Systems. Additionally, Exhibit Development Group has leased 2,991 square feet of space. Exhibit Development Group negotiated the lease transaction in-house.
MILFORD, MICH. — Lee & Associates of Michigan has represented both parties in the sale of 14,800 square feet of industrial space located at 4999 McCarthy Dr. in Milford. Barry Landau represented the buyer, Parita Michigan Ventures LLC, which has acquired the facility for the expansion of its Michigan operations; Jon Savoy and Joseph Pellerito represented the seller. The price of acquisition was not disclosed.
BAYPORT, N.Y. — The Long Island, New York, office of CB Richard Ellis (CBRE) has brokered the sale of a 23,000-square-foot industrial facility, located at 500 Church St. in Bayport, for approximately $2 million. The single-story structure features 24-foot clear ceiling heights, and 3,050 square feet of finished office and showroom space. Robert Godfrey and David Godfrey of CBRE represented the buyer, Winona Realty Ventures, as well as the seller, Pedrini International. Winona subsequently signed CBRE as the exclusive leasing agent for the property.
HOUSTON — Houston-based PinPoint Commercial has commenced development of Phase II of Satsuma Station Industrial Park, a 115-acre, master-planned industrial project located near the intersection of Highway 290 and FM 1960 in Houston. Phase II will consist of the construction of Satsuma Distribution Center, a 315,000-square-foot speculative facility. It will feature 30-foot clear ceiling heights, approximately 70 doors and will be divisible from 30,000 square feet. The project also is applying for LEED-Silver certification from the U.S. Green Building Council. Construction will commence in August, with completion scheduled for the first quarter of 2009. Additionally, PinPoint has partnered with Dallas-based Phoenix Capital to master-plan the remaining acreage of the park. At full build-out, Satsuma Station Industrial Park will contain 1 million square feet of industrial development. CB Richard Ellis will market the property.
HOUSTON — NAI Houston has brokered the purchase of a newly constructed, 35,200-square-foot warehouse/office building located at 7108 and 7100 West Little York in Houston. Travis Land and John Ferruzzo of NAI Houston represented the buyer, ABCO Subsea Associates. The seller, 168 Coreig I, was represented by Stephen Schneidau, Beau Kaleel and Jim Foreman of Cushman & Wakefield. The purchase price was not disclosed.
PHOENIX — CB Richard Ellis Realty Trust and Duke Realty Corp., under a joint venture agreement, have acquired a 604,678-square-foot distribution center in Phoenix, for an undisclosed price. The property is fully leased to Amazon.com on a long-term basis. Located at 6835 W. Buckeye Rd., the property features 88 dock doors, three drive-in doors, a clear height of 30 feet and 14,000 square feet of office space. This acquisition is the first property purchased as part of a joint venture between the two companies. The partnership plans to acquire up to $800 million of newly developed bulk industrial build-to-suit projects from Duke during the next 3 years.
CERRITOS, CALIF. — Piuma Properties has leased 605 Cerritos Distribution Center in Cerritos for $15.3 million. United Kingdom-based Bunzl leased the 178,454-square-foot industrial property, which is located at 15959 Piuma. Bunzl plans to house its distribution and storage operation of paper, plastic and containerized consumer projects in the facility. The building features concrete tilt-up construction, high-image architecture, 28 dock-high doors and a 32-foot minimum clear height. Clyde Stauff, David Prior and Todd Taugner of The Klabin Company represented the lessor, Piuma Properties, in the transaction; Mark Sonnenberg of Colliers International, along with Tom Cronin and Jed Zaun of Lee & Associates, represented Bunzl.
MIAMI — Erick Padilla of CB Richard Ellis has represented Los Angeles-based MICA LLC in the acquisition of 6,653 square feet of industrial space located at 10420 NW 37th Terrace within Cantel West Industrial Park in Miami. The facility was sold by Miami-based Hugo Jimenez for approximately $1.06 million. Cantel West houses 24 industrial properties totaling 180,000 square feet of Class A warehouse space. The seller was represented by Audley Bosch of Cushman & Wakefield.
ENDICOTT, N.Y. — Sperry Van Ness (SVN) has arranged the sale of a self-storage property located at 1400 Campville Rd. in Endicott for $2.25 million. The property features 298 rental units and approximately 36,130 square feet of additional space. It was 93 percent leased at the time of closing. Thomas Rithven and Nicholas Malagisi of SVN represented the buyer, a New York-based self-storage management group. The seller was undisclosed.
AUSTIN, TEXAS — ING Clarion Partners has acquired Southpark Commerce Center III, a three-building, 470,886-square-foot industrial property located at 4801 Freidrich Lane in Austin, from Endeavor Real Estate Group. Two buildings on the 31-acre property were completed in 2002, and are fully leased to a tenant roster that includes Axcess Technologies and Calendar Club. The third building was completed in January and is fully occupied by multiple tenants. Jim Batjer, Barry Brown, and Robby Rieke of Holliday Fenoglio Fowler marketed the property on behalf of the seller. The acquisition price was not disclosed.