ELK GROVE VILLAGE, ILL. — Gemstone Real Estate Partners has completed the sale of a 36,664-square-foot industrial building located at 1225 Greenleaf Ave. in Elk Grove Village. Magnetic Inspection Laboratory Inc acquired the building for approximately $2.25 million in order to accommodate its growth. The facility is part of a two-building industrial complex that Gemstone purchased in September of last year; the second building, 1331 Greenleaf Avenue, remains available for sale or lease. Matthew Stauber, Thomas Rodeno and Jonathan Kohn of Colliers Bennett & Kahnweiler represented Gemstone in the disposition. The buyer was represented by Michael Hawryluk and Britt Casey of Cushman & Wakefield of Illinois.
Industrial
MANSFIELD, TEXAS — Evansville, Ind.-based Brake Supply Co. has acquired a 78,000-square-foot warehouse located in Mansfield. The facility, which is situated on 8.5 acres within the 1187 Business Park at 2115 FM 1187, will be used by the company as a new operations and distributions facility for the Dallas/Fort Worth Metroplex. Brake Supply Co. was represented by Jim Hazard and Todd Hawpe of Dallas-based Henry S. Miller Brokerage. The seller, California-based Robhanna & Waltco, was represented by Jeff Givens and Amy Baker of Fort Worth-based NAI Huff Partners. The property is part of a larger parcel that was divided for the sale. A 64,170-square-foot building and 13.86 acres of land still remain for sale.
BREA AND FULLERTON, CALIF. — Voit Commercial Brokerage has brokered two industrial transactions in Orange County worth $5.8 million. Albany Synergistics has purchased a 32,559-square-foot industrial property, located at 615 and 655 Berry St. in Brea, from North Anaheim Associates for $4.5 million. Voit’s Mike Hefner represented Orange, Calif.-based Albany Synergistics, and Voit’s Mitch Zehner and Louis Tomaselli represented the seller. Zehner and Tomaselli also represented both parties in GLI Kimberly’s sale of a 7,247-square-foot warehouse to Fullerton Development for $1.3 million. The property is located at 1556 Kimberly Ave., Unit 16, in Fullerton.
TUCSON, ARIZ. — Sara Lee has signed a 32,932-square-foot warehouse lease with EastGroup Properties. Terms of the lease were not released. The property is located at 3925 N. Benan Venture Dr. in Tucson. R.A. Herrington of Colliers Turley Martin Tucker’s St. Louis office represented Sara Lee, and Rob Glaser of Tucson-based PICOR Commercial Real Estate Services represented the landlord.
CHESAPEAKE, VA. — Carson, Calif.-based US Auto Parts Network has signed a 72,558-square-foot lease for space in the Indian River Distribution Center in Chesapeake. The property will serve as US’s East Coast distribution center. H. Ashton Williamson and R. Worth Remick of CB Richard Ellis’ Hampton Roads, Va., office and Peter Andrich of the company’s Newport Beach, Calif., office represented US.
KENOSHA, WIS. — Developer First Industrial Realty Trust and design/builder Principle Construction have completed the development of a 600,000-square-foot build-to-suit warehouse for Rust-Oleum. Located at 8505 50th Street in Kenosha, the bulk warehouse allows the tenant to consolidate space from two area locations into the new distribution/warehouse facility, which is located in First Industrial’s First Park Kenosha business park.
PLEASANT PRAIRIE, WIS. — Towne Investments, a subsidiary of Milwaukee-based real estate firm Zilber Ltd., has completed two new speculative industrial buildings within LakeView Corporate Park in Pleasant Prairie. Towne Industrial III at LakeView, which measures 82,104 square feet, and Towne Industrial IV, which totals 51,540 square feet, feature 28-foot clear ceiling heights for multiple tenants with space requirements ranging from 15,000 to 82,000 square feet. John Sharpe, Rick Delisle and Sergio Chapa of Lee & Associates of Chicago are marketing the property for sale and lease. LakeView Corporate Park encompasses 2,400-acres and offers more than 10 million square feet of industrial, office and retail space along the Interstate 94 corridor between Milwaukee and Chicago.
YORK, PA. — York-based ROCK Commercial Real Estate has arranged the sale of a 40,000-square-foot industrial property located on approximately 4 acres at 3350 Farmtrail Rd. in Manchester Township, York. ROCK represented the buyer, Tekgard. The seller, Key Plastics Technology, was represented by Hart Corp. The acquisition price was not disclosed.
MARLBOROUGH, MASS. — Colliers Meredith & Grew has negotiated the sale of a 28,000-square-foot flex industrial building, located at 85 Hayes Memorial Dr. in Marlborough, for $2.1 million. The property was constructed in 1974 and expanded in 1998. It contains office and warehouse space, and was fully leased to Diamond Machining Technology at the time of closing. Wayne Spiegel, William Lynch and Timothy O’Brien of Colliers Meredith & Grew represented the seller, EPP Real Estate. Joel Aho of O’Brien Commercial Properties represented the undisclosed buyer.
VICTORVILLE, CALIF. — Stirling Capital Investments has disposed of a 53-acre land parcel located within Southern California Logistics Airport in Victorville. The site was acquired by Dr Pepper Snapple Group Inc., which plans to develop its 850,000-square-foot western hub at the site. The facility will be able to produce up to 40 million cases of beverages per year for distribution throughout California and part of the Southwest. Construction is expected to begin this month, with completion slated for second quarter 2010. Southern California Logistics Airport is a redevelopment of the former George Air Force Base into a multimodal freight transportation hub. It is being master developed by Stirling Capital Investments, a joint venture between Denver-based DCT Industrial Trust and Foothill Ranch, Calif.-based Stirling.