PLEASANT PRAIRIE, WIS. — PPC Industries has purchased a 75,000-square-foot industrial building located 10001 78th Ave. in Pleasant Prairie. The building, which is situated adjacent to PPC Industries’ existing facility, will be used to expand the company’s manufacturing and distribution operations. The facility is rail served and has electrical capacity to support PPC’s heavy manufacturing needs. Thomas Boyle of Northfield, Ill.-based Boyle Commercial Realty, in conjunction with V3 Realty Brokerage, represented the buyer; Lee & Associates of Illinois represented the seller in the transaction. The acquisition price was not disclosed.
Industrial
ELK GROVE VILLAGE, ILL. — Northfield, Ill.-based Gemstone Real Estate Partners has acquired an industrial facility comprised of two interconnected buildings at 1225-1331 Greenleaf Ave. in Elk Grove Village. The 72,000-square-foot building includes warehouse, light industrial and office space. Gemstone plans to divide the facility into two separate 36,000-square-foot units. Plans also call for a new exterior, a new office build-out, additional docks and a resurfaced parking lot, which are slated for completion by the end of the year. The acquisition price was not disclosed.
BRIDGEPORT, N.J. — CB Richard Ellis has brokered the sale of Pureland VI, a 597,232-square-foot warehouse and distribution facility located at 200 Birch Creek Rd. in Bridgeport, for $28.5 million. Situated on more than 77 acres within the 10 million-square-foot Pureland Industrial Complex, Pureland VI was constructed in 1991 as a build-to-suit for the property’s sole tenant, Becton, Dickinson & Co. (BDC). It features 25-foot clear ceiling heights, 50 dock doors with two drive-in doors, 12,805 square feet of office space and storage for up to 91 trailers. Robert Fahey and Michael Hines of CBRE’s greater Philadelphia office represented the seller, Emory Hill Real Estate Services. It was acquired by Cornerstone Realty Advisors. BDC recently signed a lease extension through August 2013.
LINDEN, N.J. — Morristown, N.J.-based The Hampshire Companies has completed renovations to a 116,000-square-foot industrial property, located at 1050 Edward St. in Linden. Situated on 4.1 acres, the property boasts easy access to the New Jersey Turnpike and Garden State Parkway, as well as close proximity to Port Elizabeth, Port Newark and Newark Liberty International Airport. The facility features two drive-in doors, eight loading docks, and on-site trailer parking. Thomas Monahan, Andrew Houston and Robert Casagrande of Colliers Houston & Co. are serving as exclusive leasing agents for the property, which is available for warehouse, light assembly and distribution users. The building is part of Hampshire Partners Fund VII, Hampshire’s $350 million institutional real estate investment fund.
LEAGUE CITY, TEXAS — The Houston office of CB Richard Ellis (CBRE) has brokered the sale of a 5.41-acre development site located at the intersection of State Highway 96 and FM 1266 in League City. Laura Smith and Larry McWherter of CBRE represented the seller, locally based South Shore Harbour Development Ltd. The undisclosed buyer, which was represented by Ward Arnold of Reward Realty, plans to develop the property into a self-storage facility.
SIMI VALLEY, CALIF. — Spar Investment Co. has purchased an industrial property, which is located at 2255 and 2267 Agate Ct. in Simi Valley. The 34,875-square-foot property sold for $5.3 million. At the time of acquisition, the property was 100 percent occupied. Grant Harris and John Ochoa of Lee & Associates’ Ventura, Calif., office represented the buyer; Bram White and Stuart Scott of Dom Commercial Real Estate Services represented the seller, Turbo Properties LLC, in the transaction.
ALPHARETTA, GA. — Duke Realty has sold an 80,000-square-foot warehouse to Chicago-based First Industrial, a real estate investment trust, for $4.4 million. Kimberly-Clarke is the major tenant in the building, which is located at 11415 Old Roswell Rd. in Alpharetta. Duke Realty’s Brian Sutton represented the seller, and Bob Burdell of NAI Brannen Goddard represented First Industrial.
CLEARWATER, FLA. — Perma-Liner Industries has signed a 7-year lease on a 30,000-square-foot warehouse. Further terms of the lease were not disclosed. The company will use the building, located at 13000 Automobile Blvd. in Clearwater, as the headquarters of its underground utility piping and installation operation. Bill Alton and Dave Tower represented Perma-Liner in the transaction.
STURTEVANT, WIS. — Chicago-based HSA Commercial Real Estate has purchased a 192,500-square-foot industrial building located at 10277 Venice Dr. in Sturtevant. The facility, which is situated on a 16.4 acre-site within Renaissance Business Park, features 39-foot clear ceiling heights, 29 exterior docks, six drive-in doors and trailer storage. HSA acquired the building from a private investment group for an undisclosed amount. The building is fully leased to Allstates Trucking Inc. and Bway Manufacturing. HSA was represented in-house by Eric Ogden; Todd Torok of Lee & Associates represented the seller in the transaction.
WOBURN, MASS. — Grubb & Ellis has brokered the sale of a 56,290-square-foot flex building, located at 23 Rainin Rd. in Woburn, for approximately $4.8 million. Situated on 12.1 acres, the facility serves as the primary office and research facility for Rainin Instrument, a subsidiary of Mettler Toledo. Anthony Biette and Brad Spencer of Grubb & Ellis represented the seller, Rainin Group and the estate of Kenneth Rainin. The property was acquired by Boston-based Mack investors. Rainin Instrument will continue to occupy the facility until the termination of its lease in 2011.