VERNON, CALIF. — Newport Beach, Calif.-based Master Development Corp. (MDC) has acquired a 113,500-square-foot industrial building, which is located at 4380 Ayers Ave. in Vernon, from 4380 Ayers Ltd. for $10.4 million. MDC purchased the property through its joint venture with GE Asset Management. The company plans to renovate the property with interior and exterior upgrades. Jeffrey Sanita, John McMillian and Tim Wallace of Cushman & Wakefield represented the buyer.
Industrial
CRANBURY, N.J. — Aurobindo USA has signed a 103,350-square-foot lease at Matrix Development’s distribution facility located at 102 Melrich Rd. in Cranbury. The pharmaceutical company will use the space for office, general warehouse space and distribution space. Matrix was represented in-house in the transaction by Patrick Connelly, and Aurobindo was represented by Charles Fern of Jones Lang LaSalle.
HOUSTON — NAI Houston has brokered the sale of an office and warehouse facility in Houston on behalf of Restorative Equipment Services. The 12,960-square-foot building is located at 10700 Kinghurst St. Jason Whittington of NAI Houston represented the seller in the transaction, and Yakup Altiniski of Realty Associates represented the buyer, NUR International. The sale price was undisclosed.
HAYWARD, CALIF. — Craig Hagglund of Lee & Associates East Bay Inc. represented the undisclosed buyer in the $9.8 million acquisition of an approximately 101,000-square-foot warehouse facility, which is located at 3528 Arden Rd. in Hayward. Currently leased to Alexander’s Moving & Storage, the property features 28-foot clear ceiling heights, high-density sprinklers and ample truck parking. Tom Gilmer of Lee & Associates represented the undisclosed seller in the transaction.
ROMEOVILLE, ILL. — Denver-based ProLogis has acquired a 650,000-square-foot distribution center located in ProLogis Park 55, a 4.5 million-square-foot, master-planned industrial park located in Romeoville. ProLogis had originally sold the land on which the building is situated to Duke Realty Corp., which developed the facility. ProLogis plans to market the distribution center to consumer products companies, third-party logistics providers and manufacturers with large-scale distribution needs. David Kahnweiler and Charles Canale of Colliers Bennett & Kahnweiler have been appointed marketing agents for the property. The acquisition price was not disclosed.
GATES, N.Y. — The Pepsi Bottling Group has leased the 107,000-square-foot Building 12 in the Rochester Technology Park in Gates. Pepsi plans to use the facility for warehouse, distribution, equipment delivery and repair, and fleet maintenance operations. Owned by the Tryan Group, the Rochester Technology Park totals 5 million square feet of industrial space. Bob Moore and Paul Campbell of Moore Corporate Real Estate brokered the transaction.
SHELTON, CONN. — Bruce Wettenstein of Vidal/Wettenstein has completed the $3.8 million sale of 6 Waterview Dr. in Shelton. The 45,000-square-foot industrial facility sits on 5 acres. Wettenstein represented the seller, Doran Manufacturing, and Joel Hausman represented the buyer, Alpha-Core, in the transaction.
DALLAS — Vaquero Holdings has purchased multiple adjacent sites totaling 4 acres at Southwell Road and Shady Trail in Dallas. The company, which bought the properties from Southwell Investments, plans to develop the land for a new material supply distribution yard. Tom Grunnah and Lily Chang of Henry S. Miller Commercial represented both the buyer and seller in the transaction. The sale price was undisclosed.
CARROLLTON, TEXAS — Grubb & Ellis, a real estate services firm, has brokered the lease of an industrial site in Carrollton on behalf of Panolam Industries International Inc. The company, a melamine and laminate services provider, has leased the property from Holt Lundsford Commercial. Gary Lindsey of Grubb & Ellis represented Panolam Industries International Inc. in the transaction. Terms of the lease were undisclosed.
GAINESVILLE, VA. —Bristow Industrial Park, a 550,000-square-foot, $45 million project in Gainesville, will break ground in spring 2008. The industrial park is owned by BIP LLC, and Weber Ghadban & Associates will serve as project manager and listing broker. The project will have build-to-suit and buy or lease options.