OPELIKA, ALA. — The Korean manufacturer Mando America Corp. recently broke ground on a 431,000-square-foot distribution facility in Opelika, which is set to deliver in July. Plans for the facility include 28,000 square feet of office space and a 403,000-square-foot auto parts distribution center. Mando currently operates 325,000 square feet of warehouse space in the area. Roswell, Ga.-based Randall-Paulson Architects designed the building to include an Asian-influenced steel canopy over the front entrance.
CHESTERFIELD COUNTY, VA. — HNI Corp. has sold 375,811 square feet of warehouse space, located at 11200 and 11300 Old Stage Rd. in Chesterfield County, to Manakin Holdings for $5.3 million. Virginia T’s takes up 208,000 square feet of space in the property, and Jacobson Cos. occupies 51,840 square feet of space. Richmond, Va.-based Grubb & Ellis|Harrison & Bates’ Stuart Cary and Greg Creswell represented the seller, with Bill Mattox and Lewis Little of Harrison & Bates representing the buyer.
CHICAGO — West Oak Partners has arranged an $800,000 bridge loan for a multi-unit industrial facility located within the North Elston Avenue corridor of Chicago. West Oak Partners is the only Midwest correspondent for a private lending fund that is positioned as an alternative to traditional commercial lenders. Financing was arranged by Jeff Sondgeroth of West Oak Partners and Benjamin Kadish of Maverick Commercial Mortgage on behalf of an undisclosed Midwest-based commercial real estate investor. Additional terms of the loan were not disclosed.
THOROFARE, N.J. — Philadelphia-based The Flynn Company has brokered the sale of a 179,785-square-foot industrial facility, located at 1370 Imperial Way in Thorofare, for $8.27 million. The property is situated on 9.91 acres within MidAtlantic Corporate Center. David Ricci of Flynn represented the seller, Cobalt Industrial Partners LP, which is a private real estate investment trust operated by Dallas-based Cobalt Capital Partners. Ricci also represented the buyers, 1370 Imperial Way Associates LLC and GAMIJE 1370 Associates LLC. The facility has subsequently been leased to Camden International Commodities Terminal.
STAFFORD, TEXAS — Duke Realty Corp. has leased more than 65,000 square feet to Virgo Engineers in Stafford. The manufacturer will occupy space within Stafford Distribution Center, a 241,800-square-foot industrial building located at 10225 Mula Rd. Situated on 13 acres, the facility features a cross-dock design, 28-foot clear ceiling heights, 60-foot staging bays and 76 dock doors. The building, which was completed in May, is now 85 percent leased. Kyle Fox of the Houston office of Staubach Retail represented Virgo in lease negotiations. Cory Driskill of Duke’s Houston office provided in-house representation. Terms of the lease were not disclosed.
LEWISVILLE, TEXAS — Phoenix-based Opus West Corp. has signed two new leases totaling 73,500 square feet at 121 Lakepointe Crossing, an approximately 650,000-square-foot industrial facility located in Lewisville. Frisco, Texas-based Decorator’s Choice signed a 10-year lease for 45,300 square feet. The space will house offices, a showroom and a distribution center. In addition, Mustang Electric Supply signed a 5-year lease for 28,200 square feet of office and warehouse space, to be used as the base for the company’s growing Texas operations. Bob Hagewood, Blake Kendrick and Chris Jackson of Stream Realty Partners represented Opus in both lease deals. Andy Kampen of Banner Commercial represented Decorator’s Choice in its deal, and David Weatherington of Transwestern represented Mustang Electric Supply in its lease. Situated on 29 acres, 121 Lakepointe Crossing was developed by Opus in 2003. The two leases bring its occupancy up to 92 percent.
OAK CREEK, WIS. — Yaskawa Electric America has leased 107,152 square feet of industrial space within Oakwood Crossings Business Center I, which is located in Oak Creek. The 139,726-square-foot multi-tenant facility is within Rosemont, Ill.-based Opus North Corp.’s Oakwood Crossings Business Center. Situated on a 12.1-acre site, the building features 26-foot clear ceiling heights, two drive-in doors, 14 truck docks and parking for 172 cars, which is expandable to include a total of 280 parking spaces. In addition to general warehouse improvements, the build-out for Yaskawa Electric America includes 7,900 square feet of office space and 9,300 square feet of future lab space. The company will take occupancy at the facility in March. Bob Flood and Paul McBride of RFP Commercial brokered the long-term lease on behalf of Opus North. Additional terms of the lease were not disclosed.
JANESVILLE, WIS. — Coldwell Banker Commercial McGuire Mears & Associates has brokered the sale of a 35,000-square-foot industrial facility located at 525 E. Conde St. in Janesville. The building, which is occupied by Promax/Isuzu, was purchased for approximately $1 million. Barry Badertscher of Coldwell Banker represented the undisclosed buyer and seller in the transaction.
ONTARIO, CALIF. — LBSW LLC has purchased Airport Tech Center, a 47,345-square-foot multi-tenant industrial/office business park in Ontario. The transaction was valued at $5.6 million. The 80 percent-occupied center encompasses four buildings located at 59 S. Miliken Ave. and 4335, 4355 and 4405 E. Airport Dr. Douglas Wells of Penta Pacific Properties represented the buyer; Alan Pekarcik and Dan Vittone of Voit Commercial Brokerage represented the seller, Essex Realty Management, in the transaction.
CHICAGO — Los Angeles-based CB Richard Ellis has brokered the sale of a 788,089-square-foot industrial portfolio located primarily in Chicago. Boston-based Cabot Properties has purchased the 12-property portfolio from TIAA-CREF for an undisclosed amount. The acquisition includes 11 properties in Chicago totaling 676,898 square feet, as well as one 111,191-square-foot property in Baltimore. Jack Fraker, Josh McArtor and Conor Feeney of CB Richard Ellis marketed the property on behalf of TIAA-CREF.