COLUMBIA, S.C. — Keith Moore and Ben Brantley of CB Richard Ellis’ Columbia office have brokered Dovetail Development’s purchase of 132 acres from an undisclosed seller for $2.88 million. The acreage, located on Shop Road in Columbia, will be the site of Shop Grove Commerce Park. The 75-acre initial phase of the industrial facility will break ground early next year.
PLAINFIELD, IND. — Lauth has closed on the Tax Increment Financing Bonds to begin Phase I infrastructure work at Westpoint Business Park, which will be located at Interstate 70 and State Road 39 in the Plainfield submarket of Indianapolis. Upon completion, the business park will feature up to ten Class A distribution buildings totaling more than 7 million square feet, ranking as one of the largest distribution/logistics parks in Indiana. Situated on 555 acres, buildings will range in size from 500,000 square feet to 1.4 million square feet. Next month, Lauth will begin on approximately $5 million in infrastructure improvements at the Westpoint Business Park site. Work will include construction of new roads, mitigation of wetlands and installation of utilities, while the Hendricks County Regional Sewer District will install a sanitary sewer connection to the Monrovia Treatment Plant and begin construction of a lift station to service the area. Infrastructure improvements are expected to be complete by the end of this year.
JACKSON TOWNSHIP, PA. — First Industrial Realty Trust has acquired 232 acres of industrial land, located at the intersection of Commerce Drive and Hidden Lane in Jackson Township, for $15 million. The company plans to develop a 1.1 million-square-foot manufacturing and distribution center for Church & Dwight Co. on the property. Construction is scheduled to begin this month, with completion expected by the end of 2009. First Industrial, which was represented by CB Richard Ellis, acquired the property from Jackson Holdings LLC, which was represented by ROCK Commercial Real Estate.
FORT VALLEY, GA. — Art Barry of Macon, Ga.-based Coldwell Banker Commercial Eberhardt & Barry has brokered JFS Properties’ sale of the 350,000-square-foot former Dan River Textile facility to Fort Valley-based Blue Bird Body Co. for $1.56 million. Located on Highway 341 in Fort Valley, the facility will house Bluebird’s school bus parts fabrication operation, creating several hundred new jobs. The company plans on improving the buildings, with an expected production date of next January.
HIALEAH, FLA. — Hauppauge, N.Y.-based Innovative Stone, a global supplier of natural stone for commercial and residential uses, has leased a 103,000-square-foot warehouse, located at 725 S.E. 9th Ct. in Hialeah, from Boston-based AEW. Americas Realty represented the landlord, and Edward Redlich, Christopher Spear and Gian Carlo Alonso of ComReal Miami represented Innovative Stone. Further terms of the loan were not announced.
WHEELING, ILL. — Morgan / Harbour Construction, acting as designer/building, has broken ground for a new 120,000-square-foot public works facility for the Village of Wheeling. The two-story structure will be located on a 12-acre site at 77 W. Hintz Rd. in Wheeling. Upgrades within the building include ample indoor storage space for trucks and equipment, a more efficient layout for the administrative portion of the building, and 3 acres of outdoor storage space for salt domes, a fuel island, equipment storage, and other machinery. Construction of the facility is slated for completion in the spring of 2009. Harris architects is providing architectural services for the project. The estimated cost of completion was not disclosed.
MORENO VALLEY RANCH, CALIF. — Lone Tree, Colo.-based SecurCare has purchased Self Storage Depot in Moreno Valley Ranch for $7.55 million. The 117,000-square-foot property is divided into 850 units. The seller was Corona, Calif.-based Moving & Self Storage Depot LLC. Stephen Grossman of Lee & Associates-Newport Beach Inc. represented the seller; the buyer was represented in-house.
SANTA ANA, CALIF. — Pacific Foods Distribution has purchased a 28,510-square-foot industrial property, which is located at 3431 W. Carriage Dr. in Santa Ana, for $4.9 million. Situated on a 1.9-acre site, the two-story facility features 6,000 square feet of high-image executive office space, five dock-high positions and access to the 55 and 405 freeways. Andy Friedman of Industrial Properties represented the buyer; Chris Migliori of DAUM Commercial Real Estate Services represented the seller, Mehrdad Safari, in the transaction.
BOSSIER CITY, LA. —CPA: 17–Global, a publicly-held REIT affiliate of W.P. Carey & Co., provided a sale-leaseback to Sabre Industries for a 386,588-square-foot warehouse in Bossier City. The Louisiana building is part of a two-property, $28 million transaction between the companies. The other industrial building is located in Alvarado, Texas.
SANDUSKY, OHIO — Marcus & Millichap has arranged the sale of a 1.32 million-square-foot industrial facility located at 2509 Hayes Ave. in Sandusky. The building, which is situated on an approximately 128-acre site, is fully leased to Kyklos Bearning International Inc. The facility, which was listed for $25.5 million, includes seven loading bays, 997,910 square feet of manufacturing space and 324,037 square feet of office product. Glen Kunofsky in the New York City office of Marcus & Millichap represented the seller; Michael Glass in the firm’s Cleveland office assisted Kunofsky in the transaction.