HOUSTON — Banta Corp., a subsidiary of Chicago-based RR Donnelley, has renewed its lease for 259,200 square feet within the West by Northwest Business Park, located at 6315 West by Northwest Blvd. in Houston. Micheal Palmer, John Simons and Susana Rosas of CB Richard Ellis’ Houston office represented Banta in the transaction. The landlord, locally based Claymoore Northwest, was represented by Brian Gammil of the Houston office of Transwestern. Terms of the lease were not released.
COPPELL, TEXAS — The Dallas office of Grubb & Ellis has negotiated the sale of a 66,619-square-foot industrial property located at 505 Airline Dr. in Coppell. Gary Lindsey of Grubb & Ellis represented the undisclosed seller. The property was acquired by Houston-based DAC Realty Group for an undisclosed amount.
CHINO, CALIF. — AEP Industries Inc. has leased 143,877 square feet of industrial space within Watson Commerce Center Chino, which is located at 6949 Bickmore Ave. in Chino. The company signed an 88-month lease beginning January 15, 2009, for a total consideration of $7 million. AEP manufactures more than 15,000 types of multi-purpose and flexible packaging films. Chuck Belden of Cushman & Wakefield represented the lessee; Tom Taylor, Steve Bellitti and Josh Hayes of Colliers International represented the landlord, Watson Land Co.
ST. PAUL, MINN. — Bloomington, Minn.-based Paramount Real Estate Corp./TCN Worldwide has arranged the acquisition of a 312,800-square-foot distribution/warehouse facility located at 1700 Wynne Ave. in St. Paul. The building will be occupied by a group of companies associated with the ownership of 3PL Holdings LLP. Companies occupying the facility in the first quarter of 2009 will include Superior Third Party Logistics, Superior Brokerage Services, SBS Transportation Services, SBS Specialized Transportation Inc. and SBS International. Additionally, the seller, Minnesota Diversified Industries, will lease back a small portion of the building for its St. Paul operations. The acquisition price was not disclosed.
FRANKLIN PARK, ILL. — Advance Auto Parts Inc. has leased 45,852 square feet within the Franklin Park Distribution Center, which is located at 11222 Melrose Ave. in Franklin Park. David Bercu, Thomas Rodeno and Jonathan Kohn in the industrial services group of Colliers Bennett & Kahnweiler represented the landlord, Washington Properties, in negotiations. The 73,160-square-foot warehouse facility features 30-foot clear ceiling heights, an ESFR Sprinkler System and 17 exterior docks. Advance Auto Parts will use its new space as an auto parts distribution center. The company is expected to fully occupy the facility at beginning of the year. Dan McGillicuddy of Jones Lang LaSalle represented the tenant in negotiations. Additional terms of the lease were not disclosed.
LANCASTER, PA. — High Associates, Ltd., an affiliate of Lancaster-based High Real Estate Group, has completed a lease for a 147,235-square-foot industrial flex facility located in Lancaster. The nearly completed facility is located on William Penn Way within the 600-acre Greenfield Corporate Center master-planned business park. It features modern high-bay warehouse space, as well as potential office space. It contains 28- to 33-foot clear ceiling heights, 20 docks and two on-grade doors. The building was leased by children’s toys and products distributor Chicco USA, which is relocating its corporate headquarters to the facility in February. Ruth Devenney of High Associates negotiated the transaction.
MIDDLETOWN, R.I. — Storage Opportunity Partners (SOP) has acquired Aquidneck Island Self Storage, a 531-unit self storage property located in Middletown. The property totals 62,700 square feet in four two-story buildings. Almost all of the storage units are either climate controlled or direct drive-up. SOP plans to rebrand the property Storage Pros Self Storage, as well as add a Budget Truck Rental to the facility. The property will be managed by Storage Pros Management, a subsidiary of SOP. This most recent acquisition brings SOP’s portfolio to 11 properties totaling 5,700 units and 840 outdoor storage spaces, all of which were acquired in the last 19 months.
CHAMBERS COUNTY, TEXAS — Waste Management has acquired a medical waste incinerator from The Commissioner’s Court of Chambers County for $25 million. Built in 2001 for approximately $17.5 million, the 28,000-square-foot facility is the largest in the Southwest. It is situated on 40 acres at 7501 State Highway 65 and can support medical waste, sharps, non-hazardous industrial waste and pharmaceutical, document destruction, illegal drugs, laboratory waste and counterfeit items. Michael Palmer and Bill Boyer of CB Richard Ellis, and Beaumont-based Orgain, Bell and Tucker represented Chambers County in the transaction. Jimmy Kahla of the Chambers County Commissioner’s Court assisted in the solicitation of potential buyers.
GUILFORD COUNTY, N.C. — The fitness equipment manufacturer Precor is planning a 225,000-square-foot warehouse in Rock Creek Center in Guilford County for $26.2 million. The facility will be fully operational and will be employ 142 workers by 2011. In addition to serving as a manufacturing facility, the property will house the Precor Strength Division. Construction of the building, which was made possible by a economic development grant from Guilford County, will be guided by LEED standards.
LAVERGNE, TENN. — Hewlett Packard has signed a lease renewal and expansion with Principal Real Estate Investors for 80,000 square feet of space in the Mid South Logistics Center. The company now occupies 380,000 square feet of the warehouse, located at 455 Industrial Blvd. in Lavergne. David McGahren, Doug Howard and John Ward of Colliers Turley Martin Tucker – Nashville assisted Principal Real Estate with the lease. Nashville Commercial Real Estate Services’ Terry Smith and Jerry Frazier represented the tenant.