FORT WORTH, TEXAS — Fort Worth-based NAI Huff Partners has closed the sale of 13,000 square feet of industrial space located at 3029 E. Randol Mill Rd. in Fort Worth. Grayscale LLC purchased the property from Ramco Laundry Machinery for an undisclosed amount. Frank Jester of NAI Huff Partners represented the buyer.
Industrial
PHOENIX — Des Moines, Iowa-based Principal Finance Group has acquired two industrial facilities in Phoenix for $41 million. The company purchased a 309,485-square-foot distribution warehouse located at 6923 Buckeye Rd. for $18.2 million and a 380,740-square-foot distribution building located at 6825 Buckeye Rd. for $22.9 million. The Alter Group sold the properties, which are located within its 162-acre Buckeye Logistics Center. Pat Harlan and Steve Sayre of Cushman & Wakefield represented the seller in the transaction.
BOLINGBROOK, ILL. — Chicago-based Wrightwood Capital has acquired 3 Territorial Court, an approximately 125,000-square-foot flex industrial building located at Territorial Business Center in Bolingbrook. The property is fully leased to Goss International, and features 56,000 square feet of office space, 16 exterior docks and four drive-in doors. The opportunity was brought to Wrightwood by Michael Caprile, Ted Staszak, Stephanie Park and Traci Buckingham of CB Richard Ellis. The purchase represents the 19th acquisition on behalf of Wrightwood Capital’s Industrial Fund III.
HOUSTON — A Houston-based partnership has sold Hobby Commerce Center Buildings 4 and 5 to an out-of-state buyer. The 24,000-square-foot industrial property, which was built in 2006, sits on 2.56 acres at 8600 Telephone Rd. in Houston. Jerry Goldstein and Justin Miller in Marcus & Millichap’s Houston office negotiated the transaction on behalf of the buyer and the seller.
NORCROSS, GA. — Micromeritics Instrument Corp. has acquired a 137,717-square-foot industrial facility in Norcross, from CT Communications, operated by BH Properties, for $4.3 million. The seller was represented by Nathan Anderson and Darren Butler of NAI Brannen Goddard, and the buyer was represented by Rick Lackey of City Commercial. The property is located at 4356 Communications Drive in Gwinnett Park.
NEW YORK CITY — Dmitri Gourianov of Kalmon Dolgin Affiliates has completed the $1.9 million sale of an industrial facility in the Queens Village neighborhood of Queens, New York City. The 15,000-square-foot property is located at 212-20/24 99th Ave. The property features a 10,000-square-foot industrial building and a 5,000-square-foot lot that contains a single-family home. The building features multiple drive-in doors, high ceilings and offices on the second floor. Gourianov represented the buyer, Public Utilities Maintenance, and George Kines of Kaplon-Belo represented the seller, Albert Abney, in the transaction.
IRVINE, CALIF. — The Koll Company has completed Koll Center III, a 188,374-square-foot business park located in Irvine. The park consists of 11 one- and two-story industrial/research and development buildings offering 56 units that range in size from 1,100 to 29,000 square feet. LPA Architects provided architectural services for the project. Michael Hartel, Kevin Turner, Joe Winkelmann and Travis Haining of Voit Commercial Brokerage are marketing the project.
INDIANAPOLIS AND PRINCETON, N.J. — Indianapolis-based Duke Realty Corp. and Princeton-based CB Richard Ellis Realty Trust have entered into a joint venture that will acquire up to $800 million in industrial properties over the next 3 years. The joint venture will focus on newly developed, build-to-suit, bulk industrial projects. It has targeted six properties, totaling 5.2 million square feet and valued at approximately $250 million, for acquisition this year. The venture will acquire additional Duke build-to-suit, bulk industrial properties over the next 3 years as the projects are completed. Duke will receive asset management, property management, construction management, development and leasing fees in connection with services provided. The venture plans to hold onto the properties as long-term investments.
CHICAGO — Rosemont, Ill.-based Epic Realty Partners/TCN Worldwide has completed a 260,000-square-foot industrial lease in Chicago. Rapid Displays will occupy 260,000 square feet at 4100 W. 76th St., consolidating all of its Chicago distribution facilities into a single facility that will be known as Rapid Logistics. Phil Rosenberg and Ed Brandt of Epic represented Rapid Displays in the lease; the landlord, Insite Real Estate Development, was represented in-house by Ted Praspolous and Dan Kostelny.
ST. LOUIS — St. Louis-based Lawrence Group has completed the redevelopment of Kirberg Co.’s 44,000-square-foot headquarters and distribution facility located at 1400 S. 3rd Street in St. Louis. Lawrence Group provided design/build services for the redevelopment of the historic property, which contains office and warehouse space. The two-story building achieved LEED certification with sustainable features such as bamboo flooring, motion-sensor lighting, maximized natural light, the use of recycled materials, a green roof, increased water efficiency and the installation of a shower for employees to promote alternative transportation.