SALISBURY, MASS. — Portsmouth, N.H.-based The Kane Company has completed the sale of a 21,000-square-foot industrial building located within Salisbury Industrial Park at 5 Fanaras Dr. in Salisbury. The buyer, ProDev Inc., had been previously headquartered in Seabrook, N.H., but was looking to expand. Anthony Triglione of The Kane Company negotiated the off-market transaction between ProDev and the seller, Salisbury Industrial Park LLC. The acquisition price was not disclosed.
Industrial
CHICAGO — The Chicago Department of Aviation has selected Maryland-based Aeroterm U.S. Inc. to serve as the master developer for more than 55 acres of land and 750,000 square feet of building space for cargo facilities located in the northeast area of Chicago’s O’Hare International Airport. The master plan for the multi-phased O’Hare Northeast Cargo project calls for the completion of four cargo processing facilities and airside aircraft parking spaces. New facilities are being completed in order to accommodate a larger generation of freighter aircraft. The overall development will include the construction of truck docks, employee parking areas, comprehensive security controls and an expansion of the existing northeast fuel farm. While the project will cost approximately $160 million to complete, the city of Chicago will receive $350 million from a 35-year ground lease. Additionally, the entire project is expected to bring more than 1,200 construction jobs and more than 2,000 permanent jobs to the city. Construction of the first phase of development is expected to begin by 2012. According to the Department of Aviation commissioner, the development will approximately double O’Hare International Airport’s cargo capacity.
BURR RIDGE, ILL. — On behalf of Wrightwood Capital, Cohen Financial has secured $4.4 million in refinancing for an industrial facility located at 161 Tower Dr. in Burr Ridge. Steve Roth and Steve Kundert of Cohen Financial originated the transaction for the 117,928-square-foot building. The company was able to secure fixed-rate, 60 percent loan-to-value financing from a Midwest-based regional bank. Additional terms of the loan were not disclosed.
LONG BEACH, CALIF. — New Trans Logistics has leased 76,666 square feet of industrial space at 6766 N. Paramount Blvd. in Long Beach. The lease is valued at $1 million. Brandon Carrillo of Charles Dunn Company brokered the transaction.
ORLANDO, FLA. — McDonald Development Group has sold two industrial buildings totaling 255,499 square feet to IDI for $17.2 million. The properties, CrownPointe Five and Six, are located in the CrownPointe Commerce Park in Orlando. The buildings are 71 percent occupied. Mike Davis of Cushman & Wakefield’s San Jose, Calif., office; Rick Brugge of the firm’s Tampa, Fla., office; and Lee Morris and Jared Bonshire of Cushman & Wakefield’s Orlando office represented the seller.
JEFFERSONVILLE, IND. — With the help of One Southern Indiana, which encourages businesses to expand in the Louisville, Ky., and southern Indiana metro regions, the United States Census Bureau has expanded its operations within Jeffersonville’s River Ridge Commerce Center. The Census Bureau’s National Processing Center occupies 335,000 square feet of customized space located at 700 Patrol Rd. The Census Bureau’s space is within a 450,000-square-foot facility that is situated on a 30-acre site. Crossdock Development completed the building in August 2008. The new industrial space has allowed the Census Bureau to reengineer the processes it uses to build kits of materials for the decennial census.
WARREN, MICH. — L. Mason Capitani has brokered the sale of a 6,442-square-foot industrial facility located at 24621 Schoenherr in Warren. The building was purchased by Patroclus Holdings LLC, and will be used as the company’s headquarters. Al Iafrate and Michael Grammatico of L. Mason Capitani represented the buyer in the transaction. The acquisition price was not disclosed.
CHICAGO — New York-based KTR Capital Partners has leased a 175,000-square-foot build-to-suit warehouse in Chicago to Preferred Freezer Services. The transaction follows Preferred Freezer Services’ recent investment acquisition of the former Dominick’s distribution facility, which is situated adjacent to the build-to-suit property on West Ann Lurie Place. Situated on a 9.7-acre site, the storage building will include 57-foot clear ceiling heights with robotic picking technology and rail access. Construction of the LEED-certified facility began in late 2008, with completion scheduled for early 2010. Ware Malcomb Architects is designing the building on behalf of Preferred Freezer Services. Lawrence Much, Stephen Connolly and Irv Malik in the industrial services group of NAI Hiffman represented KTR Capital Partners in negotiations.
DALLAS — The Dallas-based TIG Real Estate Services has negotiated a lease for a 41,850-square-foot industrial building located at 11370 Pagemill Rd. in Dallas. TIG’s Helen Hudson represented the landlord, which was undisclosed. The property was leased by John’s Lone Star Distribution. Terms of the lease were not released.
CHICAGO — New York-based KTR Capital Partners has leased a 175,000-square-foot build-to-suit warehouse in Chicago to Preferred Freezer Services. The transaction follows Preferred Freezer Services’ recent investment acquisition of the former Dominick’s distribution facility, which is situated adjacent to the build-to-suit property on West Ann Lurie Place. Situated on a 9.7-acre site, the storage building will include 57-foot clear ceiling heights with robotic picking technology and rail access. Construction of the LEED-certified facility began in late 2008, with completion scheduled for early 2010. Ware Malcomb Architects is designing the building on behalf of Preferred Freezer Services. Lawrence Much, Stephen Connolly and Irv Malik in the industrial services group of NAI Hiffman represented KTR Capital Partners in negotiations.