KANSAS CITY, MO. — Kansas City-based Block & Co., on behalf of its Block Income Fund III, has acquired a 244,400-square-foot bulk warehouse building located at 1400 N. Cambridge Ave. in Kansas City. The property was originally developed by La Vida Local to accommodate the expansion and consolidation of Corporate Express’s regional distribution and showroom centers. The transaction was handled by Kenneth Block, Aaron Mesmer, Brian Beggs, Grant Reeves and Michael Block of Block & Co. Realtors, along with CB Richard Ellis. The acquisition price was not disclosed.
ROMEOVILLE, ILL. — The Rolling Meadows, Ill., office of Sperry Van Ness has brokered the sale of a 73,750-square-foot industrial building, located at 1265 Naperville Dr. in Romeoville, for $5.1 million. Tom Vincent of Sperry Van Ness represented the buyer, a Darien, Ill.-based limited liability corporation. Vincent also arranged a 10-year lease for half of the property concurrent with the sale. The seller, a Chicago-based limited liability corporation, was represented by Jason West and Sean Henrick of Cushman & Wakefield.
CHICAGO — Summit Design + Build has been selected to serve as general contractor for the construction of Halsted Pershing Business Center, a 104,000-square-foot, speculative industrial building located in Chicago’s Stockyard Industrial Park at the corner of Halsted Street and Pershing Road. The single-story structure, which is situated on 6.6 acres, will be divisible from 10,000 square feet and will be able to accommodate as many as six tenants. Features will include 30-foot clear ceiling heights, four drive-in doors and eight exterior docks. Dayton Street Partners is the owner and developer of the project, and has hired Cornerstone Architects to provide design services. Michael Senner of Colliers Bennett & Kahnweiler is serving as exclusive marketing agent. Completion is scheduled for this fall.
GROVEPORT, OHIO, AND CHICAGO — AFIAA has acquired two industrial properties for a total of $72 million. In Groveport, the company purchased a 1.2 million-square-foot distribution center, located at 2829 Rohr Rd., for approximately $51 million. In Chicago, AFIAA purchased a 500,000-square-foot commercial building, located at 2700 N. Elston Ave., for approximately $21 million. Both properties are fully leased. The sellers in both transactions were undisclosed.
ARLINGTON HEIGHTS AND SCHAUMBURG, ILL. — CB Richard Ellis (CBRE) has brokered the sale of two Chicagoland industrial properties totaling approximately 75,000 square feet. In Arlington Heights, Intelligent Holdings acquired a 43,370-square-foot building, located at 2461 Oakton St., from Crystal Springs. CBRE’s Ryan Bain, Keith Puritz and Brett Kroner represented the buyer; Chris Volkert of Colliers Bennett & Kahnweiler represented the seller. The acquisition price was not disclosed, but the asking price was $3.5 million. In Schaumburg, Bain, Puritz and Kroner, along with Joel Schneider of Atlas Partners, were the sole brokers in the sale of a 31,637-square-foot property located at 2095-2105 Hammond Dr. The property was acquired by Wrightwood Capital from Hammond Drive LLC in a sale/leaseback transaction. The acquisition price was not disclosed, but the property listed for $3 million.
GERMANTOWN, WIS. — Milwaukee-based Colliers Barry recently arranged the purchase of the Wisconsin Lift Truck facility, a 41,094-square-foot industrial facility located on Bunsen Drive in Germantown. Kenneth Braden of Colliers Barry represented the buyer, California-based Morse Properties, which acquired the property from Wolter Investment Co. for an undisclosed amount. James Young, also of Colliers, was the listing broker in the transaction.
BRUNSWICK COUNTY, N.C. — Philadelphia-based BPG Properties is planning The North Carolina Port Industrial Facility, a 945,000-square-foot, Class A global warehouse/distribution center at Leland Industrial Park in Brunswick County. The project cost will range from $40 to $50 million. The facility’s 75-acre site is located near Interstate 40 and I-140, 10 miles from the Port of Wilmington, N.C. CB Richard Ellis’ Raleigh, N.C., office will serve as exclusive listing agent.
SOUTH BRUNSWICK, N.J. — GMH Capital Partners has completed the $13.3 million sale of the Home Depot distribution warehouse in South Brunswick. The 212,335-square-foot facility was purchased by Cobalt Capital Partners. It was fully occupied by Home Depot at the time of the sale. Bill Tourtellotte of GMH represented the seller, Long Ridge Industrial Portfolio, in the transaction.
NEW YORK, NEW JERSEY, CONNECTICUT — M. Robert Goldman & Co. (MRG) has arranged $105 million in financing for the acquisition of 22 industrial properties in New York, New Jersey and Connecticut. The portfolio totals 1.7 million square feet. Jonathan Goldman and John Robustello of MRG arranged the financing for the borrower, an affiliate of Lighthouse Real Estate Venture. Funding was secured through the firm’s relationship with John Hancock Life Insurance Co.
CHICAGO — Bradley Associates, a Chicago-based commercial real estate and private equity firm, has completed the $488 million sale of a 32-property portfolio composed primarily of industrial product. One of the REITs sponsored by The Inland Real Estate Group of Companies acquired the portfolio, which includes three retail, six office and 23 industrial properties. JP Morgan Securities served as Bradley Associates’ financial advisor. Joe Cosenza of Inland negotiated the transaction in his capacity as president of the group’s acquisition arm.