ALBUQUERQUE, N.M. — Walt Arnold of Sperry Van Ness/Walt Arnold Commercial represented Albuquerque-based Prospect LLC in the disposition of a 28,800-square-foot industrial building, which is located at 4121 Prospect. 4121 Prospect LLC purchased the property for an undisclosed price. Built in the 1960s, the building was 50 percent occupied by Document Solutions at the close of escrow. The buyer was self-represented.
VENTURA, CALIF. — Transport Street LLC has purchased a 19,028-square-foot industrial building for $2.6 million. The single-story, tilt-up industrial building is located at 4277 Transport St. in Ventura. Mark Kotake of DAUM Commercial Real Estate Services represented the buyer; Mike Tharp and David Young of NAI Capital represented the seller, Libra Investments, in the transaction.
SMYRNA, GA. —Panattoni Development has acquired a 103,000-square-foot business/distribution facility at the Highlands Ridge Business Park in Smyrna, from California-based Kelley Capital, for an undisclosed amount. National Services Industries will continue to occupy the property, which is located at 1325 Highland Ridge. Bob Burdell of Atlanta-based NAI Brannen Goddard represented the buyer in the transaction.
MEDLEY, FLA. — PriceSmart has leased 127,000 square feet at Flagler Station in Medley. The company is relocating its distribution center from a smaller location within Flagler for a 40 percent increase in space. Walter Byrd, Ben Eisenberg and Thomas Kresse of Transwestern’s Miami office represented the lessee in the transaction, and the landlord was represented in-house.
ZION, ILL. — Sacramento, Calif.-based Panattoni Development Co. will break ground this month for Phase II development of the $170 million Trumpet Park, a master-planned industrial park located in Zion. New development will consist of a 1-mile roadway running through the park, as well as a 150,000-square-foot, multi-tenant industrial building. The first phase, which was completed in 2007, includes the 25-acre FedEx Distribution Center. Upon completion in 2012, the park will span 217 acres; 58 acres near the development have also been designated a wetland preservation. Mike Prost of Lee & Associates of Illinois is serving as exclusive leasing agent for the park.
MINNEAPOLIS AND BLOOMINGTON, MINN. — The Minneapolis/St. Paul office of Colliers Turley Martin Tucker (CTMT) has arranged the sales of part of Chicago-based First Industrial Realty Trust’s portfolio for more than $19 million. The properties were part of the company’s First Industrial Portfolio, and were sold in two transactions to separate locally based investment partnerships. The first sale involved two buildings totaling 318,006 square feet that are located at 770 and 800 Kasota Ave. in Minneapolis. The second sale involved two properties totaling 161,368 square feet that are located within Normandale Tech Center at 6403 and 6507 Cecilia Dr. in Bloomington. Mark Kolsrud, Matthew Klein, Shawn Moore and Pia Robertson represented First Industrial in the sale.
MARINETTE, WIS. — Meridian Capital Group has secured $4.5 million in financing for a 250,000-square-foot, owner-occupied industrial facility located at 3100 Woleske Rd. in Marinette. Financing consists of a 15-year, self-liquidating loan with a 6.375 percent interest rate. Jim Bologno of Meridian’s New Jersey office represented the undisclosed borrower.
PENNSYLVANIA AND NEVADA — Allstate Real Estate Investment Group has provided an $80 million fixed-rate loan to ProLogis North American Industrial Fund III for a portfolio of industrial properties in Reno and Las Vegas, Nev., and Harrisburg, Pa. The portfolio, totaling more than 3.8 million square feet, consists of 13 warehouse and distribution buildings. Dave Tomfohrde of Draper and Kramer arranged the financing on Allstate’s behalf.
WACO, TEXAS — Caterpillar Inc. will break ground this month on a more than 500,000-square-foot facility in Waco. Located at 2901 Gateway Blvd., the distribution center will employ between 140 and 180 people upon completion and will provide primary aftermarket parts support to six Caterpillar dealers in North America.
DETROIT — Signature Associates has arranged the sale of a 65,000-square-foot industrial property located at 1221 Rosa Parks Blvd. in Detroit. Chris Monsour of Signature represented the seller, Service Tire Co., as well as the buyer, Fort Rosa LLC. The acquisition price was not disclosed.