SAN ANTONIO — Fiesta Warehousing & Distribution Co. has signed a lease to occupy 315,000 square feet within Phase I of East Kelly Railport, a multi-modal industrial facility located in San Antonio. Fiesta will use the new facility, located at 302 Tayman, to expand its current operations. Terry Warth of CB Richard Ellis’s San Antonio office represented Fiesta in lease negotiations. Ron Mills with Santa Barbara Development Services represented the industrial park’s developer and owner, RREEF Real Estate. Phase I of East Kelly Railport, which was completed in March, comprises 360,000 square feet of industrial space. Phase II, which broke ground in May, will include 275,000 square feet of rail-served industrial space. Completion is expected in January 2009.
Industrial
HOUSTON — NAI Houston has arranged the sale of a newly constructed, 13,300-square-foot warehouse/office building located at 4923 Cranswick In Houston. The speculative facility was sold by BRG Cornerstone Development & Construction LP, which was represented by Travis Land and John Ferruzzo of NAI Houston. Bo Petit and Conrad Bernard of Boyd Commercial represented the buyer, MHDH Properties. The acquisition price was undisclosed.
LAS VEGAS — CORE Construction-Nevada has been selected as general contractor for the construction of the PDM Steel Service Center in Las Vegas. Developed by PDM Steel, the project features a 95,000-square-foot distribution facility at the intersection of Alto Avenue and Abels Lane. Situated on a 9-acre site, the property will offer a 5,280-square-foot sales office, an 84,840-square-foot warehouse space and a 4,880-square-foot shipping office. Completion for the $8.83 million project is scheduled for March 2009. Portland, Ore.-based VLMK Consulting Engineers is serving as the project’s engineer of record.
CHARLOTTE, N.C. — Lester Osborn and A. Scott Hensley of Charlotte-based Piedmont Properties/CORFAC International have represented Tekmatex in the sale of a 3.7-acre, 42,000-square-foot office/warehouse property, located at 3601 Performance Rd. in Charlotte, to Atlanta-based McKenney’s for $1.4 million. The buyer is planning extensive renovations to the property, which encompasses 13,000 square feet of office space and a 27,000-square-foot warehouse.
CHICAGO — George Maragos and Brad Weiner of CB Richard Ellis’ Downtown Chicago office have represented American Licorice Co. in the sale of a 209,907-square-foot freestanding manufacturing building located at 3701 West 128th Place in Chicago. The multi-tenant property contains 25 exterior loading docks and two drive-in doors. Madison Partners Realty has acquired the facility, and hired CB Richard Ellis to market the property for lease. The acquisition price was not disclosed. On behalf of Madison Partners Realty, Maragos and Weiner arranged a 10-year, 40,000-square-foot lease within the building for Bill Downs Enterprises. The Tinley Park office of Network Commercial Real Estate represented Bill Downs Enterprises in the transaction.
FREDERICKSBURG, VA. — Thalhimer brokered the sale of four industrial properties totaling 8,000 square feet from Aquia Partnership to English Family Trust for $860,000. Virgil Nelson, Mary Katherine Greenlaw and Wilson Greenlaw of Thalhimer’s Fredericksburg office handled sale of the property, located in Airport Center at 3509 Shannon Park Dr. in Fredericksburg.
LIVONIA, MICH. — Grubb & Ellis Co. has completed the first phase of redevelopment for the Allied Commerce Center, a 1.1 million-square-foot industrial complex located on Enterprise Drive in Livonia. Phase I redevelopment included the demolition of 100,000 square feet of space in Building I; a new building façade with new tenant entrances and signage; the addition of up to 54 exterior truck docks; and upgrades to the HVAC, parking, and electrical systems. Grubb & Ellis has completed a long-term lease extension and 50,000-square-foot expansion with AM General. Additionally, CHEP USA has leased 64,000 square feet of space within Building I. Construction will begin this year on the second phase of Allied Commerce Center’s redevelopment, which will include a 312,000-square-foot, Class A distribution facility. While accommodating up to four tenants, the new building will feature ESFR sprinklers, 32-foot clearance height, and up to 60 truck docks. The center is owned by DJS Holdings, a wholly owned subsidiary of Norwalk, Conn.-based GE Real Estate. The estimated cost of construction was not disclosed.
EDWARDSVILLE, ILL. — Tom Dolan of Marcus & Millichap’s Chicago office and Zane Whiteley of the firm’s St. Louis office have brokered the sale of a 65,000-square-foot manufacturing facility located within the Gateway Commerce Center in Edwardsville. Sovereign Investments sold the property to a California-based tax exchange private investor for approximately $5.26 million. The single-tenant investment property was sold at a 7.2 percent rate, with regular rent increases scheduled throughout the lease term. Turner Electric Co. is the single tenant in the build-to-suit facility, which was completed for the company in April. Joe Linkogle in the Long Beach, Calif., office of Marcus & Millichap represented the buyer in the transaction.
MANGONIA PARK, FLA. — West Palm Beach, Fla.-based boat manufacturer Jeffrey Lichterman recently purchased more than 50,960 square feet of industrial space from Boca Raton, Fla.-based AR&M Management for $2.8 million. The property, located at 5455 Dexter Rd. in Mangonia Park, comprises a 20,000-square-foot metal warehouse and a 30,000-square-foot covered shed. Jeff Kelly and Robert Smith of CB Richard Ellis’s Boca Raton office were the transaction’s sole brokers.
BARTLETT, HUNTLEY AND ELGIN, ILL. — Nicholas Esposito and Chris Zannis of Arthur J. Rogers & Co. have completed three sales totaling more than 20,000 square feet in Northwest Illinois. In Bartlett, Glenwood Tool & Mold has acquired a 12,924-square-foot industrial facility located at 1251 Humbracht Circle. The firm is expanding and relocating from its previous headquarters in Elgin. Berkowitz Enterprises, which sold the facility for $930,500, was represented by Dan Brown of Brown Commercial Group. In Huntley, Esposito represented T & J Printing Supply in the acquisition of a 5,852-square-foot industrial building. The facility, which is located at 11451 Allison Ct., was sold by Bernat Development for $483,000. Joyce Harding of Paramount Commercial Properties represented Bernat Development in the transaction. Additionally, Zannis represented KNXS Equity LLC in the acquisition of a 2,014-square-foot office property located at 790 Fletcher in Elgin. The facility was sold by Black & Green Investments for $267,800. Kevin O’Donnell, Josh Schilb and John Miller of O’Donnell Commercial Real Estate represented Black & Green Investments in the transaction.