TEMPE AND CHANDLER, ARIZ. — Phoenix-based Biltmore Holdings has acquired a five-property, 515,722-square-foot flex-industrial portfolio in Tempe and Chandler from Phoenix-based DMC Investment Group for $55.5 million. The portfolio includes Kyrene Commerce Center in Tempe, which sold for $12.6 million; the $9.3 million Tempe Commerce Center in Tempe; Ocotillo Business Center in Tempe, which sold for $11.8 million; the $8.3 million Chandler Tech Center in Chandler; and the $13.5 million ADP Building in Chandler. Bob Buckley, Tracy Cartledge and Steve Lindley of Grubb & Ellis|BRE Commercial represented both parties in the transaction.
Industrial
SIMPSONVILLE, S.C. — Ford Borders and Grice Hunt of Greenville, S.C.-based NAI Earle Furman have arranged the sale of two industrial buildings on behalf of the buyer, Bridgeport Properties Harrison, in Simpsonville. The buildings total 410,503 square feet and are located at 101-103 Harrison Bridge Rd.
CAROL STREAM, ILL. — Darwin Realty & Development Corp. has brokered the sale of a 95,000-square-foot industrial building located at 410-420 Fullerton Ave. in Carol Stream. The facility is situated on 7.8 acres, and features 30-foot clear ceiling heights, 10 exterior docks, two drive-in doors, 800 amps of power and ESFR sprinkler systems. Noel Liston of Darwin represented the seller, Panattoni Development, in the transaction. The buyer, Porteous Fastener Co., had previously leased the facility; it was represented by Alden Management Group. The acquisition price was undisclosed.
CAROL STREAM, ILL. — The Rosemont, Ill., office of Cushman & Wakefield has represented TA Associates in a 347,440-square-foot lease renewal and expansion at 230-260 Lies Rd. in Carol Stream. The lessee, Lagasse, will expand its current 150,796-square-foot lease to occupy the entire warehouse/distribution building. Britt Casey and Mike Hawryluk of Cushman & Wakefield represented building ownership in the transaction; Lagasse was represented by Claire Paulson and Dominic Carbonari of Grubb & Ellis.
ANN ARBOR, MICH. — L. Mason Capitani (LMC) has brokered the sale of a 32,368-square-foot industrial facility located at 161 Enterprise Dr. in Ann Arbor. The buyer, Electro ARC Manufacturing Co., plans to use the building as its North American headquarters. Thomas Jablonski of LMC represented the undisclosed seller in the transaction. The acquisition price was not disclosed, but the listing price was $1.2 million.
HOUSTON — Duke Realty Corporation (Duke) has signed leases with two tenants for spaces in its Westland I industrial building located at Eldridge Parkway, just south of Highway 290 and 2 miles west of the Sam Houston Tollway in Houston. Simplex Grinnell LP will occupy more than 51,000 square feet of the building, while Recall Total Information Management will occupy nearly 47,000 square feet. The 263,000-square-foot industrial building, which was completed in January of this year, is now 70 percent occupied. Faron Wiley, Joseph Smith, Mike Scimo and Jim Bob Taylor of CB Richard Ellis represented Simplex Grinnell and Recall Total Information Management in the transaction, while Cory Driskill of Duke represented the lessor.
VICTORVILLE, CALIF. — Stirling Capital Investments, a joint venture between Foothill Ranch, Calif.-based Stirling and Denver-based DT Industrial Trust Inc., has broken ground for the construction of a 1 million-square-foot speculative industrial facility within Southern California Logistics Centre in Victorville. The building will join five other buildings, which are part of the 6.5 million-square-foot first phase of development at the site. As a LEED-registered project, the facility will feature 32-foot clear height, 179 dock doors, concrete truck courts from 185 feet to 405 feet, 328 parking stalls, approximately 405 additional trailer parking spaces, ESFR sprinklers, a fenced yard and 3 percent skylights. Completion is slated for December of this year. Jay Dick, Darla Long, Mark Latimer and Marc Santoro of CB Richard Ellis are marketing the facilities on behalf of Stirling Capital Investments.
LOS ANGELES — Beverly Hills, Calif.-based Maxxam Enterprises has completed the construction of an approximately 60,000-square-foot wholesale center, which is located at 777 East 12th St. in the Fashion District of Los Angeles. The property provides space for stores and showrooms on wholesale women’s fashions and apparel on its ground and mezzanine levels. A full-service branch of Pacific City Bank occupies the second floor.
ORLANDO, FLA. — Susan Ruby and Lee Morris of Cushman & Wakefield’s Orlando office have represented the landlord, Dividend Capital, in the lease of 148,287 square feet of warehouse space to Dal-Tile Corp, a subsidiary of Calhoun, Ga.-based Mohawk Industries. The warehouse is located at 1800 Cypress Lake Dr.
CHICAGO — Coldwell Banker Commercial NRT has brokered the sale of a 24,396-square-foot industrial property, located at 2600 W. Addison St. in Chicago, for $3.57 million. Bruce Heller and Tifanie Riley of Coldwell Banker represented the seller; Al Johnson of Menard Johnson represented the buyer, which plans to redevelop the property for multi-tenant use. Both parties were undisclosed.