JACKSON, MISS. — The Hutting Building has traded hands for $3.05 million in Jackson. Jason and Carol Morehouse acquired the 100,000-square-foot industrial building from Space Point Associates. The property is located at 851-861 Boling St. and is fully leased to Hutting Building Products. Tom Baginski of San Francisco-based NAI BT, represented both parties in the transaction.
Industrial
MADISON COUNTY, ILL. — Contegra Construction Co. has been selected to complete Proctor & Gamble’s $22 million expansion of its Westway III distribution center, which is located in the 2,300-acre Gateway Commerce Center in Madison County. The 580,000-square-foot building is being expanded to 1.2 million square feet, including 20,000 square feet of office space and 32-foot clear ceiling heights. Slated for completion in December, the new building will enable Proctor & Gamble to consolidate its Midwest distribution operations into one location.
WESTMINSTER, MASS. — The Stubbledine Company has negotiated the long-term leasing of 130,000 square feet of industrial space at 100 Simplex Dr. in Westminster. The 90-acre property contains a 685,000-square-foot, multi-tenant industrial building. The tenant, Interstate Container will relocate to the new facility from its previous location in Fitchburg, Mass. David Stubbledine, James Stubbledine and Al Ringuette of The Stubbledine Company represented the landlord, National Industrial Portfolio Borrower, and secured the tenant. Terms of the lease were not disclosed.
CORONA, CALIF. — Voit Commercial Brokerage, a member of CORFAC International, has closed two separate transactions in Corona. In the first transaction, Walter Frome and Bill Livesay of Voit’s Irvine, Calif., office represented the sellers, Dudley Sewell and Heather Passoa-Bond, in the disposition of a 10,875-square-foot industrial property. Located at 3155 Palisades Dr., the building sold for $1.8 million. Standard Drywall Inc. will occupy the building. Michael Hefner and Mike Vernick of Voit’s Anaheim, Calif., office represented the buyer, E & M Investments. Additionally, Frome and Livesay represented both parties in the sale and acquisition of a 6,082-square-foot office building, which is located at 4210 Green River Rd. in Corona. West Hollywood, Calif.-based Olympic Barrington Partnership sold the property to Ralph and Sharon Dion for $1.7 million.
STOCKTON, CALIF. — TCP Inc. is relocating its west coast distribution center and warehouse to the Massie Industrial Park in Stockton. The company, which manufactures energy efficient lighting products, will occupy a 130,000-square-foot facility. The property features state-of-the-art radio frequency technology and 10 loading docks, as well as office and meeting space. Slated to open July 1, the new facility will bring approximately 30 new jobs to San Joaquin County. The facility is owned by Denver-based ProLogis.
OLIVE BRANCH, MISS. — Crossroads Distribution Center Building F, located in Olive Branch, has gained LEED certification status, making it the largest LEED-certified industrial building in the Southeast. The 800,308-square-foot warehouse and distribution center is situated at the intersection of Polk Lane and Stateline Road within the Crossroads Distribution Center, and was developed by Atlanta-based IDI. The company is also developing Crossroads Building A, a 452,715-square-foot building within the center.
DIXON, ILL. — Finland-based manufacturing firm UPM Raflatac has opened a 225,000-square-foot label-stock factory located on a 60-acre parcel of land within the Lee County Business Park in Dixon. The $100 million facility has begun operation with approximately 115 workers who are involved in manufacturing, packaging, and distributing the company’s tags and custom labels. In addition to tax incentives from county and local governments, a $4.5 million grant was provided by the Illinois Department of Commerce and Economic Opportunity to facilitate the company’s entry into the area.
NEW JERSEY AND NEW YORK— The Self-Storage Advisory Group of CB Richard Ellis (CBRE), along with the Institutional Commercial Group of Transwestern, has brokered the sale of 11 self-storage properties located in New Jersey and New York for $175 million. The portfolio totals 933,000 square feet, and all of the properties carry the Storage Post brand. The facilities feature covered loading, flexible unit sizes, climate-controlled environments and security. One of the properties is still under construction. CBRE and Transwestern represented American Storage Properties North, which sold the property to Acadia Realty Trust.
FRANKLIN, MASS. — Monmouth Real Estate Investment Corp. sold an 84,376-square-foot industrial property, located at 17 Forge Park in Franklin, for approximately $6.68 million. The property is occupied by Kellogg Sales Co. The buyer, Delaware-based CRP investments, was represented by the Boston office of Jones Lang LaSalle.
SEAL BEACH, CALIF. — TPX LP has purchased a 78,000-square-foot industrial building, which is located at 1709 Apollo Ct. in Seal Beach, for an undisclosed price. TPX has leased the property to Torrance, Calif.-based AMONIX, a leader in solar electric power technology. AMONIX will utilize the facility to manufacture its large solar cells. Sheri Messerlian of NAI Capital’s South Bay, Calif., office, along with Clint McMorris of Colliers International, represented the buyer; John Schumaker of CB Richard Ellis represented the seller, Knickerbocker Properties Inc. XLVI, in the transaction. Messerlian also represented AMONIX in leasing the property.