COLTON, CALIF. — SMC Grease Specialist Inc. has acquired an 8.34-acre industrial land parcel, which is located at the southwest corner of Agua Mansa and Rancho roads in Colton. A private seller sold the property for $2.8 million. The buyer plans to develop industrial buildings on the property. John Boyer of NAI Capital’s Ontario, Calif., office, along with Joe Stewart of NAI Capital’s Riverside, Calif., office, represented both parties in the transaction.
SCHAUMBURG, ILL. — Chicago-based Wrightwood Capital has added to its Industrial Property Fund III with the acquisition of an approximately 27,000-square-foot cold storage facility located at 2095 Hammond Dr. in Schaumburg. The property, which is fully leased to Amazing Food Manufacturing, features 20-foot clear ceiling heights, two interior and three exterior docks, 7,500 square feet of office space, and a USDA-approved cooler and freezer area. The opportunity was brought to Wrightwood by Keith Puritz of CB Richard Ellis and Joel Schneider of Atlas Partners. The acquisition price was not disclosed.
HOUSTON — Cushman & Wakefield of Texas Inc. has brokered a lease on behalf of Iron Mountain Information Management Inc. for an industrial space located at 4013 W. 11th St. in Houston. AN/WRI Partnership Ltd. is the landord of the 120,000-square-foot warehouse, which is located within the West Loop Business Park Commercial Park. James Foreman and Louis Kaleel of Cushman & Wakefield of Texas Inc.’s Houston office represented the tenant in the transaction, while Mary Jo Giammalva of Weingarten Realty represented the landlord.
HOUSTON — Grubb & Ellis Co. has finalized the sale of an industrial building located at 5601 Braxton Dr. in Houston. Eclectic Design LP purchased the 50,200-square-foot property from R & G Leasing Co. for an undisclosed amount. Doug and John Nicholson of Grubb & Ellis Co. represented the seller in the transaction.
OLATHE, KAN. — Kansas City, Mo.-based Kessinger Hunter is developing a 601,829-square-foot industrial facility located at the intersection of 167th Street and Lone Elm Road in the Kansas City suburb of Olathe. The speculative bulk distribution center is situated on approximately 40 acres. Features include 32- to 37-foot clear ceiling heights, 138 dock-high doors, two drive-in doors, 98 trailer parking spaces, heavy power capability and an ESFR sprinkler system. The facility also boasts easy access to the nearby BNSF intermodal facility currently under development. Construction of the Kessinger Hunter project is currently underway, with completion scheduled for October.
COCONUT CREEK, FLA. — Des Moines, Iowa-based Principal Life has acquired five warehouse and office buildings, totaling 300,000 square feet, at Lyons Technology Park in Coconut Creek, from a partnership led by Malcolm Butters, for $46 million. The business park is located south of Hillsboro Boulevard at the intersection of Lyons and Johnson roads. Scott O’Donnell of CB Richard Ellis’ Boca Raton, Fla., office and Christian Lee of its Miami office were the sole brokers in the transaction and exclusively represented the seller.
AURORA, COLO. — Trammel Crow Co., on behalf of owner Principal Real Estate Investors, has broken ground for the construction of the final phase at Airways Business Center in Aurora. The phase will consist of three buildings totaling 220,730 square feet and offering 24-foot clear ceiling heights with wide column spacing, generous glass storefronts, extensive truck docks and secure outdoor storage. Located at the corner of Airport Road and 22nd Avenue, the 54-acre park currently features 585,000 square feet of space.
CORONA, CALIF. Newport Beach, Calif.-based Master Development Corp. (MDC) has completed the disposition of a 127,800-square-foot industrial building, which is located at 235 Radio Rd. in Corona, for $15 million. At the time of acquisition, the property was 100 percent leased by CertainTeed Corp., a manufacturer and marketer of vinyl windows and doors for the residential market. Jedd Zaun and Bill Garrett of Lee & Associates Newport Beach office represented both parties in the transaction. The buyer was not disclosed
CHARLOTTE, N.C. — Newport Beach, Calif.-based KBS Realty Advisors has acquired Crossroads Distribution Center, a 469,347-square-foot, four-building warehouse facility in southwest Charlotte, for $26 million. The Class A complex was 70 percent leased at the time of sale to eight tenants, including: Europa Sports Products, Walker & Zanger, Residential Construction and Stark Carpets. Frank Fallon and Chris Riley of CB Richard Ellis’ Atlanta office represented the seller, and the buyer was represented in-house.
ST. LOUIS — St. Louis-based McGrath & Associates has completed construction of two additions to the Proctor & Gamble manufacturing plant located at 169 E. Grand Ave. in St. Louis. The project comprised two design/build additions, totaling 23,000 square feet, to the company’s existing plant. Construction began last August. Wedemeyer Cernik & Corrubia served as project architect, and Zak Cos. served as project engineer.