MT. COMFORT, IND. — Indianapolis-based Browning Investments, in a joint venture with New York-based Real Estate Capital Partners, has plans to break ground on two industrial facilities within the Axcess70 industrial park in Mt. Comfort. Situated on a 153-acre site adjacent to Interstate 70, Axcess70 will house more than 2 million square feet of bulk distribution space. Browning Construction Inc. will begin building two facilities this month, with completion expected for March 2009. The first 423,000-square-foot building will include 32-foot clear-height ceilings and T5 Fluorescent Lighting; the second 250,000-square-foot facility will include 28-foot clear-height ceilings and an ESFR sprinkler system. Browning Construction Inc. will also complete construction of a third facility, which will be expandable to 1.3 million square feet. The estimated cost of construction was not disclosed.
STAMFORD, CONN. — The New York Institutional Group of CB Richard Ellis (CBRE) has brokered the sale of a 154,533-square-foot flex warehouse building located at 88 Hamilton Ave. in Stamford. The fully occupied building comprises 58,340 square feet of flex space, 56,534 square feet of warehouse space and 39,659 square feet of office space. It is fully occupied, with AmeriCares Foundation leasing all of the office space and most of the warehouse space until 2023. Additional tenants include Carolee and World Wrestling Entertainment, which occupy their spaces until 2017 and 2012, respectively. CBRE’s Jeffrey Dunne, Patrick Bisceglia and Todd Newman represented the seller, Poplar Pointe Partners Ltd. The trio also procured the buyer, 88 Hamilton Avenue Associates LLC, which is an affiliate of Seaboard Properties. The acquisition price was not disclosed.
RIVERSIDE, CALIF. — Atlanta-based Oakmont Hunter Park Riverside LLC has completed the disposition of a 31,768-square-foot industrial building, which is located at the five-building Hunter Park Business Center in Riverside. Located at 1120 Citrus Ave., the property was acquired by M. Gardarian Family Trust for $3.1 million. The facility houses the West Coast distribution center of Rancho Santa Margarita, Calif.-based Qualis International Inc. Milo Lipson and Ryan Velasquez of Grubb & Ellis represented the seller; Todd Hergesall of Voit Commercial represented the buyer in the transaction. The business park totals 294,051 square feet.
CHESAPEAKE, VA. — Atlanta-based Butler Properties has purchased 1.8 acres in the Waterway Industrial Park in Chesapeake from BBB LLC for $540,300. An 11,280-square-foot Flowers Bakery warehouse is planned for the site. Patrick Mumey and W. Scott Wermers of Thalhimer’s Virginia Beach, Va., office brokered the transaction.
WATERTOWN, WIS. — NAI MLG Commercial has brokered the acquisition of a 191,000-square-foot industrial facility located at 426 S. Montgomery St. in Watertown. Montgomery Properties LLC has acquired the building from MCF I LLC for an undisclosed amount. The new owner will reposition the single-tenant facility to house several smaller multi-tenanted units. Karen Johnson and MayBritt Lian of NAI MLG Commercial represented the buyer; Pete Slezak of Colliers Barry Inc. represented the seller in the transaction. Johnson and Lian will also serve as the exclusive leasing agents for the facility.
VILLAGE OF MOUNT PLEASASNT, WIS. — Chicago-based HSA Commercial Real Estate has selected Butler, Wis.-based Berghammer Construction Corp. to construct two spec buildings within the Park 94 Business Park in Village of Mount Pleasant. Both facilities, which are the first two buildings to be constructed within the business park, were designed by Itasca, Ill.-based Cornerstone Architects. Groundbreaking for the project is planned for September 16th. A 320,000-square-foot facility is being constructed to achieve LEED Certification; a 125,000-square-foot facility is also being built simultaneously on the property. Construction commenced in May, and is scheduled to be complete in December.
HAZELTON AND CAMP HILL, PA. — Lemoyne, Pa.-based Landmark Commercial Realty has brokered the sale of two Pennsylvania industrial facilities. The first is a 240,000-square-foot, Class A distribution facility located within Humboldt Industrial Park in Hazelton. The property was acquired by Exeter 490 Forest LP, an affiliate of Exeter Property Group, for $10.5 million from an affiliate of Philadelphia-based Equilibrium Equities. Jason Grace of Landmark negotiated the transaction. The second property is a 165,000-square-foot warehouse facility located at 801 Spangler Rd. in Camp Hill. It was acquired by 801 Spangler Road Associates LP, which was represented by Grace. He was also subsequently named exclusive leasing agent for the property. The seller, as well as the sale price, was not disclosed.
PRINCE GEORGE, VA. — 8140 Quality Drive LLC has sold a 108,350-square-foot warehouse, located at 8140 Quality Dr. in Prince George, to Virginia Seal Products for $3.5 million. Chip Louthan from the Richmond, Va., office of Grubb & Ellis|Harrison & Bates and Charlotte, N.C.-based Binswanger Co.’s Doug Faris represented the seller. Virginia Seal Products was represented by Specter Properties and will occupy half the building.
SUN PRAIRIE, WIS. — STAG Capital Partners has acquired a 427,000-square-foot industrial facility within the Sun Prairie Business Park located at 1615 Commerce Dr. in Sun Prairie. Situated on a 24.7-acre site, the property includes 360 parking spaces and 21 dock doors. The facility is fully leased to Famous Footwear. STAG Capital Partners was represented in-house by Brad Sweeney and Josh Plosker. The seller and the acquisition price were not disclosed.
TUSTIN, CALIF. — Tustin Business Center LLC has acquired Tustin Business Center, a 156,991-square-foot multi-tenant industrial park in Tustin, for $28 million. Located at 14712-14662 Franklin Ave. within the Irvine Business Center, the property consists of 11 buildings. Michael Hartel, Kevin Turner, Trent Walker and Mark Weeks of Voit Commercial Brokerage’s Irvine, Calif., office represented the buyer; Jim Morrison of Morrison Company represented the seller, HB Tustin Franklin LLC, in the transaction.