REDLANDS, CALIF. — ProLogis has leased 498,000 square feet to Continental Tire North America (CTNA), a business of Continental AG. CTNA will occupy space at a recently developed 600,000-square-foot distribution facility within ProLogis Park Redlands in Redlands. CTNA will use the space to store and distribute tires to its customers throughout the region.
MINNEAPOLIS AND INDIANAPOLIS — Colliers Turley Martin Tucker (CTMT) has arranged the sale of two flex properties. In the first transaction, the firm’s Twin Cities office brokered the $5.1 million sale of Phillips Eco-Enterprise Center, a 57,609-square-foot, multi-tenant office and industrial building located at 2801 21st Ave. in Minneapolis. David Stokes and Bradley Brown of CTMT represented the buyer, Wellington Management. The seller was undisclosed. In the second transaction, CTMT’s Indianapolis office brokered the sale of Fortune Park 14, a 53,189-square-foot flex office building located in Indianapolis. CTMT’s Rebecca Wells, David Moore and Darrin Boyd represented the seller, Professors Capital. The buyer was Fortune Park 14 LLC, a partnership led by Tom Frank of Summit Realty Group. The acquisition price was not disclosed.
WARRENSVILLE HEIGHTS, OHIO — NAI Daus has completed the sale of a 23,594-square-foot industrial facility, located at 18780 Cranwood Pkwy. in Warrensville Heights. Situated on approximately 2 acres, the building contains 4,394 square feet of office space, two docks and two drive-in doors. Jeffrey Calig and David Hexter of NAI Daus represented the undisclosed seller. The buyer, BB Buckle LLC, purchased the property for an undisclosed amount.
WINDSOR AND EAST GRANBURY, CONN. — CB Richard Ellis (CBRE) Capital Markets has arranged $10.5 million in financing for a four-building industrial portfolio. The four properties total 239,902 square feet and are located within New England Tradeport, a 600-acre, master-planned business park situated in the towns of Windsor and East Granbury. The four buildings were constructed between 1978 and 2008, and are owned by Griffin Land. Mike Riccio and Christine Kubas of CBRE Capital Markets’ Hartford, Conn., office secured the loan. The mortgage has initial proceeds of $8.5 million but can be funded up to $10.5 million. It carries a 10-year term with a 25-year amortization schedule and a 6.58 percent fixed interest rate. The lender was Peoples United Bank.
HOUSTON — Wallenius Wilhelmsen Logistics has reached an agreement with Kansas City Southern Railway Co. (KCS) to construct a new finished vehicle distribution center for Nissan in Houston. The facility will be situated adjacent to CenterPoint Intermodal Center – Houston Metro, an 800-acre intermodal and logistical park owned by a joint venture between CenterPoint Properties and KCS. The new facility is located on the new Victoria-to-Rosenberg KCS main line, providing direct access to Nissan’s manufacturing facility in Aguascalientes, Mexico, as well as the Mexican port of Lazaro Cardenas. The distribution center will serve customers in Texas, Oklahoma and Louisiana. The construction timetable for the project has not been released.
HOUSTON — NAI Houston has brokered the sale of a 25,000-square-foot industrial building, located at 2700 Aldine Bender Rd. in Houston. The newly constructed property is situated within InterBelt North Business Center. John Ferruzzo and Travis Land of NAI Houston represented the seller, StoneBridge T1 LP. Trey Martin and Griff Bandy, also of NAI Houston, represented the buyer, PSREH LTD. The buyer has leased the building to Petroleum Solutions for the company’s Houston operations.
DELRAY BEACH, FLA. — Blue Bell Creameries has purchased 2.25 acres of land for a future office and distribution facility from West Atlantic Property Associates for $1.4 million. The land is located at 9641 W. Atlantic Ave. in Delray Beach. William Mankin of Fort Myers, Fla.-based Colliers Arnold represented Blue Bell, and Gordon Lunt of Fort Lauderdale, Fla.-based Berger Commercial Realty Corp. represented West Atlantic.
MEMPHIS, TENN. — Bunzl Distribution USA, a supplier of safety and food packaging products, has signed a lease with IDI for 96,039 square feet of space in its Airways Distribution Center Building C. Bunzl is consolidating two existing facilities into the space. The Memphis warehouse is part of the 2.5-million-square-foot Airways Distribution Center. Kansas City, Mo.-based Colliers Turley Martin Tucker’s Mark Sonnenberg and Memphis-based Colliers Wilkinson Snowden’s Bayard Snowden represented the tenant. Tim Moore served as in-house representation for IDI.
PALATINE, ILL. — BCI Acrylic Bath Systems has signed a 10-year lease for a 71,000-square-foot building, located at 514-532 S. Hicks Rd. in Palatine. The building features 18-foot clear ceiling heights, eight interior docks, three drive-in doors, 1,600 amps of power and office space. BCI had previously been occupying 39,000 square feet in the same building. It has the option to purchase the building in the future. Noel Liston of Elmhurst, Ill.-based Darwin Realty & Development Corp. represented the tenant. The landlord, Mirvac Industrial Trust, was represented by David Haigh and Steven Masters of NAI Hiffman.
QUAKERTOWN, PA. — Grubb & Ellis Company has completed the sale of a 20,100-square-foot industrial building at 103 Erie Ave. in Quakertown. The facility was purchased by Lepko Management from Mash Partnership. Joe Stephenson of Grubb & Ellis’ King of Prussia office represented the seller in the transaction.