ERLANGER, KY — US Playing Card Co. has signed a lease for 572,000 square feet of industrial/office space located at 300 Gap Way in Erlanger. The new facility will allow for more efficiency for distribution and manufacturing. US Playing Card Co. will occupy the space in December. Rod MacEachen and Josh Niederhelman in the Cincinnati office of CB Richard Ellis represented US Playing Card Co. in the transaction.
MORGAN HILL, CALIF. — Mission West Properties Inc., through its unconsolidated joint venture, TBI-MWP, has completed the disposition of two research and development assets in Morgan Hill. Selling for $65 million, the properties offer approximately 311,000 square feet of rentable space. Mission West received approximately $16.9 million in cash, its share of the net proceeds, for the transaction. In January 2003, Mission West acquired a 50 percent interest in the joint venture from the Berg Group under the Berg Land Holdings Option Agreement.
TAMPA, FLA. — Stinger Systems has signed a lease for 14,793 square feet with CLW Industrial Group for space at the 30,000-square-foot Thompson Center II. The warehouse, located at 5505 Johns Rd. in Tampa, is fully leased. The property, which was constructed by Thompson Kirk Properties, will serve as Stinger’s headquarters.
NAPERVILLE, ILL. — On behalf of Suncraft Technologies, Bannockburn, Ill.-based Principle Construction Corp. has completed an 88,000-square-foot warehouse addition located at 1301 Frontenac in Naperville. The new warehouse includes 20-foot clear-height ceilings, 65 new parking stalls, a storage mezzanine, a baler room, a break room, a worker room and a shipping office. Additionally, the project was constructed to accommodate four interior loading docks. Harris Architects provided design services; Phil Gonzalez of Principle Construction Corp. acted as project manager for the addition. The estimated cost of completion was not disclosed.
DIAMOND BAR, CALIF. — New York-based Jetro Cash & Carry Enterprises LLC has purchased a 70,400-square-foot industrial property, which is located at 20405 E. Walnut Dr. in Diamond Bar, for $9.69 million. The buyer will use the recently remodeled building as a food distribution center for Jetro Cash & Carry. Eric Nelson of Colliers International represented the buyer; Adam Dzierzynski of Lee & Associates represented the seller, Pyng Shan Liu, in the transaction.
BELLE PLAINE, MINN. — NAI Welsh has arranged the $5.7 million sale of the former Excelsior-Henderson building located at 805 Enterprise Dr. in Belle Plaine. The 170,000-square-foot industrial facility was acquired by Eden Prairie, Minn.-based Cambria, a manufacturer of quartz building materials. Peter Mork, Steve Nilsson and Jason Simek of NAI Welsh represented the seller in the transaction.
PLAINFIELD, ILL. — CB Richard Ellis has represented Meritor Heavy Vehicle Systems in signing a lease to occupy 275,327 square feet of industrial space located at 849 Whitaker Rd. in Plainfield. The property was leased by KPJV 849 Whitaker Road LP. Meritor Heavy Vehicle Systems will use its new space for remanufacturing. Mark Collins and Jamie Dingeman in the Detroit office of CB Richard Ellis represented the tenant in the transaction. Additional terms of the lease were not disclosed.
NEW BEDFORD, MASS. — Philadelphia-based Binswanger has negotiated the long-term lease of a 257,066-square-foot manufacturing facility, located at 100 Duchaine Blvd. within the former Polaroid complex in New Bedford. The space will be occupied by Lowell, Mass.-based Konarka Technologies, which signed a deal worth more than $10 million. The photovoltaics company plans to operate the facility as the world’s largest roll-to-roll thin film solar manufacturing plant. The landlord in the transaction was Watermill Ventures, whose subsidiary, MultiLayer Coating Technologies, ceased its operations at the facility in 2007.
PHOENIX — Newport Beach, Calif.-based LNR Property Corp.’s Commercial Property Group has completed the disposition of 74,268 square feet of industrial space at Washington Airport Center, a 244,768-square-foot, cross-docked distribution facility in central Phoenix. Denver-based WT Cobblehill LLC acquired the space for $8.9 million. The space is currently occupied by Sara Lee Bakery Group, which operates a just-in-time distribution facility for its baked goods. The center is located at 3425 E. Van Buren St. Mark Krison of CB Richard Ellis’ Phoenix office represented the seller; Tom Louer of Lee & Associates’ Phoenix office represented the buyer in the transaction.
SANTA ROSA, CALIF. — NorthMarq Capital has arranged a $19 million first mortgage for North Bay Industrial Portfolio, which is located in Airport Corporate Center in Santa Rosa. The portfolio offers 275,000 square feet of warehouse and light manufacturing space. 40/86 Mortgage Capital Inc. provided the financing, which was based on a 10-year term with a 30-year amortization schedule. Jeffrey Haskell of NorthMarq Capital’s San Francisco regional office arranged the financing.