HOUSTON — The Carson Companies has acquired 149,000 square feet of Class A distribution space in Houston from MBW Houston LP. The space, which is situated on 9.15 acres at 6300 West by Northwest Blvd., is 87 percent leased to three tenants, Bosworth Papers, Patterson Logistics and Home Depot Installation Services. David Boyd of Boyd Commercial represented the seller in the transaction. The Carson Companies is handling property management in-house, and Boyd Commercial is handling the leasing of the remaining 24,000 square feet of vacant space on the site.
Industrial
HOUSTON — John Ferruzzo and Travis Land of NAI Houston have represented Lapas Icon Inc. in the sale of approximately 19,996 square feet of office/warehouse space in Houston. Asian American Plastics acquired the space, which is located at 3703 and 3709 Lapas. Andy Hsu of AA Realty represented the buyer.
GLEN ARM, MD. — MCF Capital has purchased a 200,000-square-foot, 20-acre warehouse/office property in Glen Arm’s Long Green Valley, from United Container, for $4 million. The building is located in the Long Green Valley at 5200 Glen Arm Rd., north of the Cromwell Bridge Road/Interstate 695 interchange. David Paulson and Vince Brocato of Manekin represented the seller in a direct transaction with MCF Capital. The new owners will renovate and subdivide the property for a multi-tenant occupancy.
ST. LOUIS — CB Richard Ellis (CBRE) has brokered the lease of 1.15 million square feet within Gateway Commerce Center in St. Louis for Procter & Gamble (P&G). The company will occupy Westway III, a 578,967-square-foot distribution building that was completed last July. The building will be expanded to 1.15 million square feet to accommodate P&G. While the expansion is occurring, the tenant will temporarily occupy Westway I, a 479,220-square-foot distribution center within the park. CBRE represented ownership in the lease transaction, and is also handling leasing for Westway I, the only completed spec building at the development so far. Trammell Crow Co. and Kennedy Associates/MEPT/Tower are the developers of the two buildings; the partnership controls approximately 1,200 acres of the 2,300-acre Gateway Commerce Center. It will ultimately develop up to 14 million square feet of distribution space within the park.
COLLINSVILLE, ILL. — Edwardsville, Ill.-based Contegra Construction Co. has broken ground for the development of Eastport Tech Center II, a 47,000-square-foot industrial building located within Eastport Plaza at 1605 Eastport Dr. in Collinsville. The $3.6 million building with feature bays divisible by 4,600 square feet, rear-loading warehouse space, docks and drive-in door availability, and 18-foot clear ceiling heights. Completion is scheduled for this September. The project was designed by Gray Design Group, and is being developed by St. Louis-based Maune Development Co. Barber-Murphy Group and CB Richard Ellis are marketing the facility at rates of $7.50 to $8.50 per square foot net. ProSource has signed on as the first tenant at the building, and is leasing 10,500 square feet for a showroom.
FORT WORTH, TEXAS — Fort Worth-based NAI Huff Partners has closed the sale of 13,000 square feet of industrial space located at 3029 E. Randol Mill Rd. in Fort Worth. Grayscale LLC purchased the property from Ramco Laundry Machinery for an undisclosed amount. Frank Jester of NAI Huff Partners represented the buyer.
PHOENIX — Des Moines, Iowa-based Principal Finance Group has acquired two industrial facilities in Phoenix for $41 million. The company purchased a 309,485-square-foot distribution warehouse located at 6923 Buckeye Rd. for $18.2 million and a 380,740-square-foot distribution building located at 6825 Buckeye Rd. for $22.9 million. The Alter Group sold the properties, which are located within its 162-acre Buckeye Logistics Center. Pat Harlan and Steve Sayre of Cushman & Wakefield represented the seller in the transaction.
BOLINGBROOK, ILL. — Chicago-based Wrightwood Capital has acquired 3 Territorial Court, an approximately 125,000-square-foot flex industrial building located at Territorial Business Center in Bolingbrook. The property is fully leased to Goss International, and features 56,000 square feet of office space, 16 exterior docks and four drive-in doors. The opportunity was brought to Wrightwood by Michael Caprile, Ted Staszak, Stephanie Park and Traci Buckingham of CB Richard Ellis. The purchase represents the 19th acquisition on behalf of Wrightwood Capital’s Industrial Fund III.
HOUSTON — A Houston-based partnership has sold Hobby Commerce Center Buildings 4 and 5 to an out-of-state buyer. The 24,000-square-foot industrial property, which was built in 2006, sits on 2.56 acres at 8600 Telephone Rd. in Houston. Jerry Goldstein and Justin Miller in Marcus & Millichap’s Houston office negotiated the transaction on behalf of the buyer and the seller.
NORCROSS, GA. — Micromeritics Instrument Corp. has acquired a 137,717-square-foot industrial facility in Norcross, from CT Communications, operated by BH Properties, for $4.3 million. The seller was represented by Nathan Anderson and Darren Butler of NAI Brannen Goddard, and the buyer was represented by Rick Lackey of City Commercial. The property is located at 4356 Communications Drive in Gwinnett Park.