TWINSBURG, OHIO — Matt Beesley of Cleveland-based CRESCO Real Estate, a member of the Cushman & Wakefield Alliance, has represented Concorde Mill Inc. in the sale of a 257,000-square-foot distribution center in Twinsburg. First Industrial Realty Trust acquired the facility and 45 acres of land, which it intends to lease to tenants. First Industrial has retained Beesley to market the available land to industrial users. The price of acquisition was not disclosed.
RANCHO CUCAMONGA, CALIF. — Sixth Street LP has purchased an 83,456-square-foot industrial property, which is located at 10096 Sixth St. in Rancho Cucamonga. Sixth Street Industrial Park sold the property for $6.6 million. The buyer plans to renovate the property, which it will keep as a long-term investment. Mike and Loren Cargile of Voit Commercial Brokerage’s Irvine, Calif., office represented the buyer; Allmark Properties represented the seller in the transaction.
HENDERSON, NEV. — Voit Development Company has completed the final phase of Pacific Business Center, as a third-party fee development project, for Northwestern Mutual Investments/Life Insurance. Located on American Pacific Drive in Henderson, the 13-building project offers 898,389 square feet of commercial space. The final phase consists of two mid-bay buildings and one distribution building totaling 216,317 square feet. Park amenities include dock levelers, skylights, evaporative coolers and metal halide lighting. The property also features on-site management. Tim Regan of Voit Development served as project manager for the fee development at Pacific Business Center. Kevin Higgins, Steve Paravia and Garrett Toft of Voit Commercial Brokerage’s Las Vegas office are marketing the project, which is owned by Northwestern Mutual Investments/Life Insurance.
SUFFOLK, VA. — Thalhimer, a member of the Cushman & Wakefield Alliance, has represented Ashley Capital in the lease of 81,204 square feet of warehousing/distribution space within the 750,000-square-foot Bridgeway Business Center in Suffolk. Richmond, Va.-based The Dixie Group has leased the facility, which is located at 6701 College Dr. Dixie plans to invest $2.6 million in the facility that will specialize in the handling of large and oversized equipment and power-generated machinery. Thalhimer’s Patrick Mumey, Robert Phillips and Scott Wermer handled the negotiations.
ELWOOD, ILL. — Woodridge, Ill.-based Morgan/Harbour Construction has been selected by CenterPoint Properties to develop the expansion of CenterPoint Intermodal Center, an industrial park that is located at the corner of Illinois Route 53 and Hoff Road in Elwood. Approximately 4 million square feet of industrial facilities will be constructed within the 300-acre expansion of the park’s east side. The expansion includes the improvement of Route 53 with a new turn lane, the extension of Walter Strawn Drive into the proposed park and implementation of storm water management detention facilities onsite. Cornerstone Architects is providing the architectural services.
AVENEL, N.J. — Jeffrey Dunne, Jeffrey Oram, Kevin Walsh and Mindy Lissner of CB Richard Ellis (CBRE) have brokered the sale of a 324,445-square-foot warehouse distribution building in Avenel. The facility sits on 15.13 acres at 1500 Rahway Ave., and features 39 loading doors and approximately 20,000 square feet of office space. The property also contains 11.43 acres for future development. CBRE represented the seller, Woodbridge Enterprises, and procured the buyer, Pantheon Properties.
CHANDLER, ARIZ. — Ryan Companies US Inc. is developing a 130,708-square-foot spec warehouse facility at the Chandler Freeways Business Park in Chandler. Located off of the Loop 202 Santan Freeway and 56th St., the project will be the fifth building at the company’s 58-acre master-planned business park. Designed by Balmer Architecture Group, the building features 28-foot clear ceiling heights, cross docks, ESFR capabilities and a floor plate that is divisible into eight tenant suites. Construction is expected to take 7 months and completion is slated for May 2009.
CHARLOTTE, N.C. — Colliers Pinkard has brokered the $22.4 million sale of the 240,760-square-foot portfolio of five multi-tenanted flex buildings in South Point Business Park located off of Carowinds Boulevard in Charlotte. Windsor Realty Fund VII, sponsored by Boston-based General Investment & Development Co., has acquired four buildings totaling 176,360 square feet in size, and a tenant has bought one building totaling 64,400 square feet. Rob Cochran, John Cashion and Keith Bell of Colliers represented the owner, Carlson Real Estate Co.; Tom O’Brien of CBRE represented the tenant in the single-building purchase.
LAGRANGE, GA. — Batson-Cook, as general contractor, has broken ground on the $8 million expansion of Diverse Power’s LaGrange headquarters. The expansion includes a new 16,000-square-foot utility maintenance facility and garage, a new fuel station and truck wash, and a 26,000-square-foot expansion of the current sheltered truck storage space. Additionally, Diverse Power has acquired 20 acres of land to house the member-owned electric cooperative’s newly formed Georgia Right of Way division. A one-story, 15,000-square-foot truck shed and a small operations office will be built onsite.
SEAL BEACH, CALIF. — Los Angeles-based Overton Moore Properties has completed the sale of three industrial buildings at Pacific Gateway Business Center in Seal Beach for a total of $38.8 million. Jerry Turpanjian acquired 1709 Apollo Ct.; Affliction Clothing purchased 1779 Apollo Ct; and Magtek, a world electronic transaction technology company, acquired 1710 Apollo Ct. The sold buildings total 240,089 square feet of high-image space. Brian DeRevere, John Schumaker, Ryan Peterson, Jeff Morgan and Bob Goodmanson of CB Richard Ellis are marketing the project.