MEMPHIS, TENN., AND GASTONIA, N.C. — Calif.-based Crown Realty has separately acquired single-tenant occupied warehouse facilities located in Tennessee and North Carolina for a total of $30 million. The Meritex Logistics Distribution Center, a 646,160-square-foot warehouse/industrial space, is located at 4836 Hickory Hill Rd., in Memphis. Johnny Lamberson and Frank Quinn of CB Richard Ellis brokered the deal. The Wix Master Distribution Center, a 541,609-square-foot warehouse/storage facility, is situated on 37 acres at 1551 Mount Olive Church Rd., in Gastonia. Jeffrey Shell and John Ecclestone of Cushman & Wakefield’s Michigan office brokered the sale.
Industrial
NORTHBOROUGH, MASS. — Campanelli Cos. has acquired the Peterson Spring Regional Manufacturing Facility in Northborough in a $4 million sale/leaseback transaction from Peterson American Corp. The 62,500-square-foot property is located at 40 Bearfoot Rd. near Route 290. Robert Cronin of Colliers Meredith & Grew represented the seller in the transaction, and the buyer was represented in-house by Stephen Murphy.
CORONA, CALIF. — Fleetwood Aluminum Products Inc. has acquired a 207,400-square-foot industrial building in Corona for $21.5 million. The buyer plans to use the building, which is located at 395 Smitty Way, for corporate office and the manufacturing of aluminum products. The buyer was formerly located in four separate buildings in Corona. Walter Frome and Bill Livesay of Voit Commercial Brokerage’s Irvine, Calif., office represented the buyer; Paul Earnhardt of Lee & Associates represented the seller, Cusumano Smitty Way LLC, in the transaction.
NILES, ILL. — CB Richard Ellis (CBRE) has arranged the acquisition of a 150,197-square-foot industrial building located at 7555 N. Caldwell Ave. in Niles. The facility features 18,000 square feet of office space and 20- to 24-foot clear ceiling heights. It was acquired by Jinny Beauty Supply Corp., which plans to use the property as its distribution and corporate headquarters. Brett Kroner and Keith Puritz of CBRE represented Jinny in the transaction. Denise Chamovitz, Joel Friedland and Adam Schneiderman of Epic Realty Partners represented the undisclosed seller. The acquisition price was not disclosed, but the asking price was $7.8 million.
BRISTOL, CONN. — Savanna Investment Management and Hudson Realty Capital have sold the Bristol Business Center for $60.5 million to Bristol Center LLC. The 1.2 million-square-foot industrial warehouse/distribution facility is located at 780 James P. Casey Rd. in Bristol. The transaction was brokered by Jeff Fishman of Robert K. Futterman & Associates.
CRANBURY, N.J. — Cushman & Wakefield has brokered the sale of 324 Half Acre Road, a 680,000-square-foot distribution facility in Cranbury. The newly constructed Class A property was sold by Rockefeller Group Development Corp. and IDI to US Industrial REIT II. The building features cross docking and 36-foot clear ceilings. Stan Danzig and Jules Nissim of Cushman & Wakefield brokered the sale for an undisclosed price. Kuehne & Nagel is currently leasing 443,803 square feet at the facility.
COPPELL, TEXAS — ProLogis, an owner, manager and developer of distribution facilities, has leased 61,000 square feet at Freeport Corporate Center in Coppell to Hussmann, a refrigeration and food merchandising equipment manufacturer. The facility, which totals 143,000 square feet overall, is located near the Dallas/Fort Worth International Airport and is now fully occupied. Gary Lindsey and Jim Caldwell of Grubb & Ellis represented the tenant in the transaction.
TAHOE-RENO, NEV. — The McShane Corp. and MetLife Real Estate Investments’ industrial alliance is developing Eagle Valley Industrial Center, a 1.3 million-square-foot speculative industrial project located at 555 Milan Dr. in Tahoe-Reno. Designed by Ware Malcomb Northern California, the development features two 566,875-square-foot buildings, which are divisible to 125,000 square feet. The buildings feature typical bays, speed bays, dock-high doors and drive-in doors. The Irvine, Calif., office of McShane Corp. is providing design/build services for the project, which is slated for completion in June.
INDIANAPOLIS — NAI Olympia Partners has brokered the sale of a 434,501-square-foot industrial building located at 6003 Guion Rd. in Indianapolis. Chip Barnes and Mike Lubbers of NAI represented the seller, Frank Mason Realty. The property was acquired by Fastenal Co. for an undisclosed amount.
REDLANDS, CALIF. — The McShane Corp./MetLife Real Estate Investments industrial alliance has acquired an 84-acre land parcel, which is located within the Redlands Business Center in Redlands, from Long Beach, Calif.-based Bixby Land Co. for an undisclosed price. Located within the 227-acre master-planned business park, the center will be developed in two phases. The first phase will feature six industrial facilities totaling 612,000 square feet ranging in building size from 70,000 to 150,000 square feet. Slated to break ground third quarter, the first building will comprise 131,510 square feet of office/warehouse space and feature 30-foot clear heights, a two-story executive office component, up to 20 dock-high truck doors, two ground-level loading doors, a 180-foot secured truck court and 3,000 amp electrical capacity. McShane Construction Corp. and RKZ Inc. are providing design/build services for the development.