EATONTOWN, N.J. — Peter Ricker of Weichert Commercial Brokerage has negotiated a 29,000-square-foot lease for office/flex space located at 246 West Industrial Way in Eatontown. Ricker represented the tenant, Empire Technologies, who was looking to relocate and expand its operations. The landlord, Industrial Way Complex, LLC, represented himself. The 5-year lease features a 5-year renewal option.
PLANO, TEXAS — The Dallas office of Holliday Fenoglio Fowler (HFF) has completed the sale of Research Center, a five-property industrial/flex park located in Plano. Constructed in 2001, Research Center contains five buildings situated on approximately 15 acres that total 160,000 square feet of space. Tenants at the property include Terminex, NexRev and Eagle Test System. HFF’s Jud Clements and Robby Rieke represented the seller, Bank of America. The buyer, a Dallas-based private investor represented by Mark V Commercial, purchased the property free and clear of debt. The purchase price was not released.
ONTARIO, CALIF. — Trek Bicycle Corp., a global leader in bicycle design and manufacturing, has signed a lease for 207,018 square feet of space at Shea Center Ontario in Ontario. The company plans to use the space as its West Coast Distribution Center, which will store and ship bicycles and cycling products to dealers in the western third of the United States. Robert Pontello of Merit Commercial Real Estate represented the tenant; Walt Chenoweth, Frank Geraci, Patrick Wood and Juan Gutierrez of CB Richard Ellis represented the landlord.
MINNEAPOLIS — Bloomington, Minn.-based Kraus-Anderson Realty Co. has completed the sale of The Phillips Eco-Enterprise Center in Minneapolis. The 57,609-square-foot office/warehouse building, which is located at 2801 21st Ave., was a pilot project for the LEED program. David Stalsberg and Dan Mossey of Kraus-Anderson arranged the sale on behalf of the seller, The Green Institute. Greenway Office LLC, and affiliate of Wellington Management, acquired the building. The Green Institute, which has utilized the building as its headquarters since its completion in 1999, will remain a tenant in the building, occupying approximately 9,000 square feet.
BETHLEHEM, PA. — Candy manufacturer Just Born Inc. has acquired a 600,710-square-foot distribution building located in Bethlehem. Situated within Lehigh Valley Industrial Park V at 4000 Township Line Rd., the facility will be used as the company’s finished goods distribution center. Just Born plans to relocate its distribution center from Scranton, Pa., to the new facility to be closer to its manufacturing plant. The candy maker will upgrade the building to a food-grade, EPA-certified facility. The company will also be seeking LEED certification. The new distribution center will open in late 2009. Jerry Moore and Michael Bartolacci of The Garibaldi Group represented Just Born in the transaction. The seller, Delaware-based CC – Investors 1995-96, was represented by Michael Hines, Michael Blunt and Bill Wolf of CB Richard Ellis. The acquisition price was not disclosed.
HOUSTON — John Ferruzzo, Travis Land and Michael Keegan of NAI Houston recently represented Supreme Corp. Texas in the sale of an office/warehouse facility in Houston. Batterson Truck Equipment purchased the approximately 14,400-square-foot building, which is located at 5430 Killough. Chris Caudill and Joel Michael, also of NAI Houston, represented the buyer.
IRVINE, CALIF. — Kusha Inc. has signed a 5-year lease for a 38,400-square-foot industrial property in Irvine. Located at 1211 McGaw Ave., the property leased for $1.67 million. The tenant, an importer of Basmati rice from India to the United States, plans to use the facility to house its United States headquarters. Dick Silva of Lee & Associates represented the lessee; Phil Cohen and Matt Durkin, also of Lee & Associates, represented the lessor, RDM Properties.
CHICAGO — NAI Hiffman has brokered the sale of a 68,000-square-foot warehouse building, located at 2229 S. Halsted St. in Chicago. The buyer, locally based Sterling Bay Cos., plans to rehabilitate the property and create loft industrial units. Brian Colson, Larry Goldwasser and Eric Fischer of NAI’s Industrial Services Group represented the seller, Sandler Sanitary Wiping Cloth Co. The purchase price was not released.
PETERBOROUGH, N.H. — Winchester, Mass.-based Klemmer Associates has brokered the acquisition of a 76,802-square-foot industrial facility, located at 375 Jaffrey Rd. in Peterborough. The buyer is Northeast Products, a hunting accessories manufacturer currently headquartered in Lawrence, Mass. The company plans to relocate its corporate headquarters to the new building. Ted Geary of Klemmer Associates represented Northeast Products in the purchase. The seller, Monadnock Business Ventures, was represented by Michelle Lange and George Foskett of The Masiello Group. The acquisition price was not disclosed.
HOUSTON — Advanced Platinum Solutions has signed a lease for 110,000 square feet of warehouse/distribution space at 10735 W. Little York in Northwest Houston. The long-term lease is at West Little York Distribution Center, which is owned and managed by Liberty Property Trust. The tenant, which provides warranty and repair services for Hewlett Packard in the U.S., has moved into its new location. Troy Collins with Holt Lunsford represented Advanced Platinum Solutions in the transaction.