FREDERICK, COLO. — Panattoni Development Co. is currently developing a two-building industrial project in Frederick. Located along Interstate 25 between State Highways 119 and 52, the project will feature an 81,925-square-foot building offering showroom/light-industrial space and divisible to 16,500 square feet, and a 138,240-square-foot facility designed for warehouse or distribution space and divisible to 30,000 square feet. Mike Wafer and Steve Poole of Grubb & Ellis are marketing the project.
SUFFOLK, VA. — Prologis has acquired 83 acres at the Northgate Commerce Park in Suffolk for the future development of more than 2.1 million square feet of Class A warehouse buildings, from two individual sellers, for an undisclosed amount. The City of Suffolk Economic Authority sold 14 acres, and Upton Farms sold 69 acres. The project will begin construction this month and initial space will be available for occupancy mid-2009. Lang Williams and H. Ashton Williamson of CB Richard Ellis’s Norfolk, Va., office represented the buyer. Upton Farms was represented by Charles Dickinson of Norfolk-based Harvey Lindsey.
PETERSBURG, VA. — Triple G East has purchased a 113,000-square-foot industrial facility in Petersburg, from KHJ Dinwiddie, for $4 million. The property is located at 25651 Simpson Rd. and will be converted to an auto parts facility. Jeffrey Cooke and Gregg Beck of Thalhimer | Cushman & Wakefield’s Richmond, Va., office represented the seller, and the buyer was represented by Chip Louthan and Bill Mattox of Richmond-based Grubb & Ellis | Harrison & Bates.
PHILADELPHIA — Stockton Real Estate Advisors and the Girard Estate have acquired an 85,000-square-foot light manufacturing warehouse in Philadelphia. Located at 3501 Island Ave., the facility features 19,000 square feet of office space, 15,000 square feet of conditioned manufacturing floor area, 51,000 square feet of warehouse area, 10 loading docks and a drive in bay. The property can also be expanded by another 45,000 square feet. The acquisition price was undisclosed.
LANCASTER AND DALLAS, TEXAS — BNSF Railway Co. has purchased 198 acres of land in the Dallas Logistics Hub (DLH) from The Allen Group. The property, which is located in the cities of Lancaster and Dallas, provides more than 9,000 square feet of rail frontage. In conjunction with the sale, the parties entered into an option agreement that gives BNSF the right to purchase an additional 164 acres.
HOUSTON — The Carson Companies has acquired 149,000 square feet of Class A distribution space in Houston from MBW Houston LP. The space, which is situated on 9.15 acres at 6300 West by Northwest Blvd., is 87 percent leased to three tenants, Bosworth Papers, Patterson Logistics and Home Depot Installation Services. David Boyd of Boyd Commercial represented the seller in the transaction. The Carson Companies is handling property management in-house, and Boyd Commercial is handling the leasing of the remaining 24,000 square feet of vacant space on the site.
HOUSTON — John Ferruzzo and Travis Land of NAI Houston have represented Lapas Icon Inc. in the sale of approximately 19,996 square feet of office/warehouse space in Houston. Asian American Plastics acquired the space, which is located at 3703 and 3709 Lapas. Andy Hsu of AA Realty represented the buyer.
GLEN ARM, MD. — MCF Capital has purchased a 200,000-square-foot, 20-acre warehouse/office property in Glen Arm’s Long Green Valley, from United Container, for $4 million. The building is located in the Long Green Valley at 5200 Glen Arm Rd., north of the Cromwell Bridge Road/Interstate 695 interchange. David Paulson and Vince Brocato of Manekin represented the seller in a direct transaction with MCF Capital. The new owners will renovate and subdivide the property for a multi-tenant occupancy.
ST. LOUIS — CB Richard Ellis (CBRE) has brokered the lease of 1.15 million square feet within Gateway Commerce Center in St. Louis for Procter & Gamble (P&G). The company will occupy Westway III, a 578,967-square-foot distribution building that was completed last July. The building will be expanded to 1.15 million square feet to accommodate P&G. While the expansion is occurring, the tenant will temporarily occupy Westway I, a 479,220-square-foot distribution center within the park. CBRE represented ownership in the lease transaction, and is also handling leasing for Westway I, the only completed spec building at the development so far. Trammell Crow Co. and Kennedy Associates/MEPT/Tower are the developers of the two buildings; the partnership controls approximately 1,200 acres of the 2,300-acre Gateway Commerce Center. It will ultimately develop up to 14 million square feet of distribution space within the park.
COLLINSVILLE, ILL. — Edwardsville, Ill.-based Contegra Construction Co. has broken ground for the development of Eastport Tech Center II, a 47,000-square-foot industrial building located within Eastport Plaza at 1605 Eastport Dr. in Collinsville. The $3.6 million building with feature bays divisible by 4,600 square feet, rear-loading warehouse space, docks and drive-in door availability, and 18-foot clear ceiling heights. Completion is scheduled for this September. The project was designed by Gray Design Group, and is being developed by St. Louis-based Maune Development Co. Barber-Murphy Group and CB Richard Ellis are marketing the facility at rates of $7.50 to $8.50 per square foot net. ProSource has signed on as the first tenant at the building, and is leasing 10,500 square feet for a showroom.