GOODYEAR, ARIZ. — El Segundo, Calif.-based AIC Investment Co. has acquired an industrial building located within Estrella Crossing Business Park, which is located at 15635 W. Illini St. in Goodyear, for $6.6 million. The 25,000-square-foot property was built for and is fully occupied by The Arizona Republic. Rob Stephens of Cushman & Wakefield of Arizona Inc. represented the buyer; Steve Fernandez of CB Richard Ellis represented the seller, Phoenix-based Star Crossing LLC, in the transaction.
Industrial
O’FALLON, MO. — Chicago-based First Industrial Realty Trust has acquired a 115,200-square-foot industrial building located at 601 Cannonball Lane in the St. Louis suburb of O’Fallon. First Industrial plans to reposition the building, which comprises light industrial and distribution space. The property was acquired from Cenveo Corp., which was represented by Rob Pipkin and Eric Beichler of Mohr Partners, and Geoffrey Orf and Patrick Reilly of Gateway Commercial/Cushman & Wakefield. First Industrial was represented in-house by Michael Vallenari, John Wright and Scott McGregor. The acquisition price was not disclosed.
ELMHURST AND DES PLAINES, ILL. — Oak Brook, Ill.-based Krusinski Construction Co. has completed two freight-forwarding industrial facilities for International Airport Centers totaling more than $11 million. The first project is a 248,748-square-foot speculative facility situated on 23.79 acres at 1000 County Line Rd. in Elmhurst. The building features 54 exterior docks, two drive-in doors and parking for 242 cars. Julius Kwasek of Inverness, Ill.-based Kwasek Architects provided design services; James Estus of Colliers Bennett & Kahnweiler will act as leasing agent for the property. The second project is a 48,125-square-foot speculative warehouse located at 300 E. Touhy Ave. in Des Plaines. The facility features 24-foot clear ceiling heights, room for future office space, 27 docks, two drive-in doors and 66 parking spaces. Eric Johnson of Ware Malcomb served as project architect, and Ron Behm and Matthew Stauber of Colliers Bennett & Kahnweiler are the leasing agents.
GARLAND, TEXAS — First Industrial Realty Trust has completed construction of an industrial facility located at 3901 W. Miller Rd. in Garland. The 435,000-square-foot property is located at First Garland Business Park and is available for a single or multi-tenant lease. Terry Darrow and EdKepner of First Industrial Realty Trust were development managers for the project, and Bob Moore Construction provided building services.
SAN DIEGO — Construction is complete for Ocean View Hills Corporate Center, a 663,000-square-foot industrial complex located on Otay Mesa Road in San Diego. The center consists of six one-story, tilt-up concrete buildings ranging in size from 56,000 to 183,000 square feet. The buildings are divisible into units ranging from 7,900 to 50,700 square feet. Each rentable space offers dock- and grade-level loading, and eight units feature a mezzanine. Expeditors International has already leased 54,000 square feet of space at the complex. The complex was developed by Sudberry Development Inc. and an affiliate of Morgan Stanley Real Estate Advisor Inc., which purchased the property from Pardee Homes in June 2005. Smith Consulting Architects provided architectural services for the project.
SHEPHERDSVILLE, KY. — Indianapolis based-Lauth Property Group has broken ground on a speculative 936,000-square-foot bulk warehouse at Saltwater Business Park II in Shepherdsville. The Class A, master-planned park is located on Interstate 65, 16 miles south of the Louisville International Airport and UPS Worldport, the third largest air-cargo hub in the country. Commercial Kentucky, an alliance partner of Cushman & Wakefield, is representing Lauth on the leasing of the building. The project is scheduled for completion in the third quarter of 2008.
BIRMINGHAM, ALA. — Nashville, Tenn.-based WexTrust Equity Partners sold a 294,000-square-foot, Class A industrial building in Birmingham for $14.4 million to an undisclosed buyer. The bulk distribution and light manufacturing facility, located in the Jefferson Metropolitan Industrial Park near Interstate 20, is 100 percent leased to Plastech Romulus, a manufacturer of plastic injection molded automotive components. Don Albright and Douglass Johnson of CB Richard Ellis’ Nashville office brokered the sale.
HENRY COUNTY, GA — Panattoni Construction broke ground on a $50 million, 1.5 million-square-foot distribution center in Henry County for Benton Harbor, Mich.-based Whirlpool Corporation. The project is located at 1350 SR Highway 42 on 91 acres and will feature 12,000 square feet of office space. Panattoni also developed the project, and the facility was designed by Irvine, Calif.-based Ware Malcomb. Construction is slated for completion in June 2009.
BELVIDERE, ILL. — Marengo, Ill.-based Interserve has entered into an agreement with LandMark Real Estate Group for the build-to-suit purchase of a 42,000-square-foot manufacturing and distribution facility located in LandMark Logistics Park in Belvidere. The new facility will consolidate the company’s current operations in Marengo and Belvidere. Ed Lowenbaum of LowenbaumRep represented Interserve in the transaction. Shane Van Sickle provided in-house representation for LandMark Real Estate Group. The acquisition price was undisclosed.
MILFORD, CONN. — Cadcom, an aerospace parts and components manufacturer, has acquired a 10,400-square-foot building in Milford from JKB Medical Technologies for $1 million. Situated on 2.5 acres, the fully air-conditioned building is located at 110 Raton Dr. The seller plans to occupy a 26,000-square-foot building on the same street, while the buyer is expanding from its prior location at Quirk Road in Milford. Dan Boynton and Scott Zakos of Boynton Commercial represented the buyer in the transaction.