GARLAND, TEXAS — Henry S. Miller Commercial has brokered the sale of 14.6 acres located at the Firewheel Distribution Center development site at Crist Road and Highway 78 in Garland. Courtland Development Co. purchased the land for future site development. The company is currently developing the 201,000-square-foot Firewheel Distribution Center, which will be ready for initial occupancy this May. Atlas Copco has also leased 13,366 square feet at the property for its drilling solutions facility. Dan Spika and Huntley Luna of Henry S. Miller Commercial represented the seller Atlas Copco in the transaction.
Industrial
INGALLS, IND. — Opus Corp. and Mann Properties have formed a joint venture for the development of I-69 Trade Center, a planned 140-acre industrial park and logistics center located at the intersection of Interstate 69 and Indiana Highway 13 outside of Indianapolis in Ingalls. The multi-building park is planned to comprise more than 1.5 million square feet of manufacturing, distribution and office space. Groundbreaking is expected to occur this year. Colliers Turley Martin Tucker has been retained to market the facilities.
MIDDLETOWN, PA. — Michael Hess, Rob Weber and Mark Pasquella of CB Richard Ellis have negotiated two leases on behalf of American Power Conservation (APC) for industrial space in Middletown. APC has signed on for 650,000 square feet of distribution space at 201 Fulling Mill Rd., and it has also signed a short-term lease for 490,000 square feet of space at 400 and 401 First St. in the Capital Business Center. APC leased the space from ProLogis.
PATERSON, N.J. — NAI James E. Hanson has completed the sale of a 30,250-square-foot industrial building in Paterson. Located at 610 E. 32nd St., the one-story building also features 1,500 square feet of office space. The new owner, the Gladstein Partnership, plans to use the space for the distribution and delivery of auto parts. Jeffrey DeMagistris and Thomas Vetter of NAI Hanson represented the seller, LEM Realty. The sale price was undisclosed.
FORT PIERCE, FLA. — Atlanta-based IDI has acquired 129 acres of land in Fort Pierce from St. Andrews Episcopal Church for $17 million. IDI will develop the site into Crossroads Business Center, a 1.3 million-square-foot Class A warehouse and distribution space located in Crossroads Park of Commerce near Interstate 95 and the Florida Turnpike. The property will feature buildings ranging from 140,000 to 400,000 square feet. Construction on the first building will begin this summer. Ron Kent of Coldwell Banker Commercial NRT’s Boca Raton, Fla. office was the sole broker.
ROMEOVILLE, ILL. — Heitman America Real Estate Trust, a fund managed by Chicago-based Heitman, has acquired a 1.9 million-square-foot industrial portfolio located in Romeoville. The portfolio consists of four warehouse buildings located in the Windham Southwest Business Park. Each of the buildings was developed by Panattoni Development Co. between 2006 and 2008. Two of the four buildings are fully occupied by Sears Holdings, Kimberly-Clark and Dann Dee Display Features. The other two buildings, which were completed this month, currently have 261,000 and 137,000 square feet, respectively, available for lease. Heitman acquired the portfolio from a partnership involving Panattoni; the acquisition price was undisclosed.
MECHANICSBURG, PA. — Seagis Property Group is nearing completion on the Dauphin Distribution Center in Mechanicsburg. Located at 35 Dauphin Dr., the cross-dock distribution center will encompass 310,050 square feet of industrial space. The facility is slated for completion in June. Joe McDermott, Vincent Ranalli and Jeffrey Watson of CB Richard Ellis have been retained as the exclusive leasing agents for the facility.
ASHLAND, MASS — Fantini & Gorga has arranged $14.4 million in permanent financing for Ledgemere Park in Ashland. The 245,000-square-foot industrial and office park contains five contiguous one- and two-story, multi-purpose industrial and office flex buildings. The property sits on 15.4 acres at 240-290 Eliot St. The borrower was Ledgemere LLC.
HOUSTON —Holliday Fenoglio Fowler’s (HFF) Houston office has completed the sale of five industrial buildings located at 8503, 8607, 8609, 8711 and 8833 City Park Loop at the intersection of North Loop 610 and McCarty Street in Houston. INVESCO Real Estate sold the properties, which are with the industrial park City Park East, to an undisclosed pension fund advisor. The five industrial buildings total 882,232 square feet on approximately 36 acres, and are currently fully leased to Exel Logistics. Rusty Tamlyn and Mike Parker of HFF’s Houston office represented the seller in the transaction.
TOLLESON, ARIZ. — Irvine, Calif.-based LBA Realty Fund III-Company IX has purchased McShane Westside Business Park, a four-building industrial park located at 86th Avenue and Buckeye Road in Tolleson. 86th Avenue Industrial Park LLC sold the property for $73 million. Recently developed by McShane/MetLife, the Class A park consists of a 164,210-square-foot facility, two 203,372-square-foot buildings and a 535,213-square-foot facility. Toci and Ted Harrison of Cushman & Wakefield, along with Allen Lowe and Matt Hobaica of Lee & Associates Arizona Inc., negotiated the transaction.