ROMULUS, MICH. — Colliers International has arranged the lease of 718,654 square feet of industrial space within The Northline Industrial Center, which is located at 38481 Huron River Dr. in Romulus. Comprehensive Logistics Co. has leased the space from Northline LLC. Gary Glotzhober of Colliers International represented the landlord; Ron Gernay of CB Richard Ellis represented the lessee in the transaction. Terms of the lease were not disclosed.
Industrial
FRESNO, CALIF. — Titan Real Estate Investment Group has purchased a two-building industrial warehouse facility for $5.1 million. The property, which is located at 2676 and 2686 S. Maple Ave. in Fresno, offers 150,000 square feet of space. The seller was GAF Materials Corp.
COMMERCE, CALIF. — Valassis Direct Mall Inc., a national marketing services company, has signed a 10-year lease to occupy a 235,000-square-foot distribution/manufacturing facility in Commerce. Located at 5500 Olympia Blvd., the property offers 36,538 square feet of office space and direct access to 5, 710, 60 and 10 freeways. Greg Dyer and Tres Reid of CB Richard Ellis’ Torrance, Calif., office represented the lessee; Jeff Stephens, John Privett and Cameron Merrill of CB Richard Ellis’s Commerce office represented the landlord, East Los Angeles, Calif.-based TELACU Industries, in the transaction.
GRAND PRAIRIE, TEXAS — Fort Worth, Texas-based NAI Huff Partners has negotiated an 8,050-square-foot industrial lease on behalf of Speedy Metals of DFW. The tenants, which was represented by Frank Jester of NAI Huff Partners, will be occupying space at 801 S. Great Southwest Pkwy. in Grand Prairie. The landlord was First Industrial LP. Terms of the lease were not disclosed.
ATLANTA — Atlanta-based IDI Services Group has extended Menlo Worldwide Logistics’ lease of the 256,700-square-foot Shawnee Ridge Building 3, located in Shawnee Ridge off Interstate 85 in Atlanta, for 5 years. Menlo Worldwide, which will occupy the space until September 2013, has used the warehouse for inventory management and product distribution since April 1995.
MIAMI — Under a contract with Flagler Construction, Tilt-Con Corp. of Orlando, Fla., has commenced construction of the 189,140-square-foot Beacon Lakes Building 12 in Miami. The warehouse was designed by Boca Raton, Fla.-based RLC Architects and is expected to deliver in December.
ALGONQUIN, ILL. — Baltimore-based Alex. Brown Realty Inc. (ABR), in a joint venture with Chicago-based Sydney Partners LLC, has acquired 545 Algonquin Industrial Park, which is located in Algonquin. ABR Chesapeake Fund III provided an equity commitment of $2.9 million to the venture. The debt and equity capital was arranged by Matthew Shoenfeldt in the Chicago office of Holliday Fenoglio Fowler. At the time of the sale, occupancy at the 111,355-square-foot, single-story property was at 80 percent. This is the third transaction between ABR and Sydney Partners, which are assembling a Midwest portfolio that is expected to have a total investment capacity of approximately $70 million. Prior to the acquisition, the joint venture acquired Kitley Industrial Park, a 365,750-square-foot industrial property in Indianapolis, as well as Merchants Distribution Plaza, a 260,000-square-foot industrial property in Des Moines, Iowa.
BROOKFIELD AND WATERTOWN, WIS. — Milwaukee-based Colliers Barry has represented both parties in the acquisition of an industrial facility located at 3245 N. 126th St. in Brookfield. TNC Development has acquired the 13,380-square-foot building from Hearthstone Group for an undisclosed amount. James Cape of Colliers Barry represented the buyer; James Young, also of Colliers Barry, was the listing broker in the transaction. Additionally, Colliers Barry has arranged the lease of a warehouse facility, which is being constructed at 1009 S. 12th St. in Watertown. U.S. Chemical’s has leased the 150,000-square-foot warehouse from Wangard Partners Inc. The new distribution center will be ready for occupancy this fall. Pete Slezak of Colliers Barry brokered the transaction.
GRAND PRAIRIE, TEXAS — Fort Worth, Texas-based NAI Huff Partners has negotiated an 8,050-square-foot industrial lease on behalf of Speedy Metals of DFW. The tenants, which was represented by Frank Jester of NAI Huff Partners, will be occupying space at 801 S. Great Southwest Pkwy. in Grand Prairie. The landlord was First Industrial LP. Terms of the lease were not disclosed.
PIERCE COUNTY, WASH. — IKEA has opened its 646,000-square-foot distribution center in Pierce County. Located within Frederickson Industrial Area, the facility is the first phase of a project that will eventually expand to more than 1 million square feet. The center will primarily serve IKEA stores in the northwest region, including four in western Canada and three in the United States (Renton, Wash., Portland, Ore. and Draper, Utah). When fully utilized, the center will employ approximately 125 employees and provide tax revenue for local governments and schools.