ST. LOUIS — Bianco Properties has acquired the 320,000-square-foot Trade Center III Distribution Center located within Earth City in St. Louis. The industrial property was acquired for $14.2 million. Paul Hilton and Mike Hanrahan of Colliers Turley Martin Tucker represented the undisclosed seller in the transaction. In addition to Trade Center III Distribution Center, Bianco Properties owns Riverline Campus, a 281,000-square-foot multi-tenant industrial property also located in St. Louis.
Industrial
WASHINGTON COURT HOUSE, OHIO — BarMar Transport has singed a multi-year lease for the 161,000-square-foot former Mac Tool facility, which is located at 1429 S. Fayette in Washington Court House. The owners of BarMar, Mark and Barbara Beam, are planning to operate two businesses in a portion of the industrial facility. BarMar will expand its current pallet operations at the new facility, as well as begin serving regional companies with third-party logistical services. The remaining space will be available for additional tenants. Stuart Lichter owns the building through Industrial Real Estate Group LLC, a nationwide real estate developer. Tim Echemann of Sidney, Ohio-based Industrial Property Brokers represented both parties in the transaction. Additional terms of the lease were not disclosed.
LITHIA SPRINGS, GA. — First Industrial Realty Trust has sold the 585,000-square-foot Building 200 distribution center at First Park Terminus West, located in Lithia Springs, to Chicago-based CenterPoint Properties Trust for more than $20 million. Marty Arnold, Dennis Mitchell, Colin Cavill and Bob Cottle of Colliers Spectrum Cauble represented the seller. The property is occupied by Exel Logistics.
BENSENVILLE, ILL. — Lee & Associates of Illinois recently handled two industrial transactions in Bensenville. On behalf of a private investor, Lee’s Chris Nelson brokered the acquisition of a 143,400-square-foot facility located at 700 Golf Lane. Chris Porter of Cushman & Wakefield represented the seller, Leviton Manufacturing Company. Additionally, Nick Eboli of Lee & Associates represented an investor in the purchase of a 14,650-square-foot industrial building located at 201-251 Eastern Ave. Robert White of McLennan Commercial brokered the transaction on behalf of the undisclosed seller.
HOUSTON — The Houston office of CB Richard Ellis (CBRE) has brokered the sale of a 188,804-square-foot industrial facility located at 6247 Navigation in Houston. Situated on 10.82 acres, the property was formerly housed Collingswood, N.J.-based John Maneely Company’s (JMC) Seminole Wheatland Tube Facility. Michael Palmer, John Simons and Susana Rosas of CBRE represented JMC in the transaction. The property was acquired by Miami-based Elite Sales, which will be relocating to the building from its current, 40,000-square-foot location at 2003 Edwards St. in Houston. The acquisition price was not disclosed.
VERNON, CALIF. — Jacob Kahobian, owner of Paper Source Converting & Manufacturing, has acquired two industrial buildings, which are located at 4700 and 4800 Santa Fe Ave. in Vernon, for $17.2 million. Paper Source will utilize the 180,932-square-foot property to manage business operations. John Repstad of Binswanger Realty Advisory Group Inc. represented the buyer; Peter Bacci and Jack Cline of Lee & Associates’ Los Angeles Central office represented the seller, Santa Fe Properties LLC, in the transaction.
JACKSONVILLE, FLA., AND NASHVILLE, TENN. — A joint venture between CB Richard Ellis Realty Trust and Duke Realty Corporation has purchased two buildings in the Southeast from an undisclosed seller as part of a four-property portfolio worth $139.1 million. The deal included a 772,210-square-foot warehouse, located in the Westlake Industrial Park at the intersection of Hannah Road and Old Plank Road in Jacksonville. The Class A property is fully-leased to Unilever. The portfolio also included a 180,147-square-foot office building, located in the Aspen Corporate Center in Nashville, that is leased to Verizon Wireless.
POLK CITY, FLA. — Indianapolis, Ind.-based Browning Investments, in cooperation with Colliers Arnold, will develop the more than 1.2 million-square-foot Axcess 4 Logistics Center in Polk City. The 104-acre property will encompass multiple buildings and include T5 fluorescent lighting and ESFR sprinkler systems. The first 554,040-square-foot building will feature 102 dock doors and four drive-up doors. Edwards Construction will build the project, which is scheduled for a February 2009 groundbreaking and a third quarter 2009 delivery.
INDIANAPOLIS — CB Richard Ellis Realty Trust and Duke Realty Corp. have completed the $139.1 million acquisition of four properties in Indianapolis, Jacksonville, Fla., Nashville, Tenn., and Dallas. Three of the properties in the portfolio, which total approximately 2.23 million square feet, are Class A single-tenant, build-to-suit bulk warehouse/distribution facilities. In Indianapolis, the joint venture has acquired a 630,573-square-foot facility within the AllPoints at Anson master-planned development. Located 22 miles northwest of downtown Indianapolis, the Class A single-tenant building is fully leased to Amazon.com.
MIDDLETOWN, OHIO — Cincinnati-based MiddCities is nearing completion of the revitalization of the MiddCities Industrial Park development, which is located at 2601 Verity Pkwy. in Middletown. Situated on a 60-acre site, the park houses 200,000 square feet of industrial space, with approximately 15 acres available for build-to-suit development. Amenities at the property include up to 60-ton capacity crane service; CSX rail service and rail car storage; truck ramps and docks; 13,000 KVA electric; and outside storage. The property features multiple buildings with a heavy industrial infrastructure. The estimated cost of completing the revitalization project was not disclosed.