ORLANDO, FLA. — HJ High Construction has been selected as design/build contractor for Mitsubishi Power Systems America Inc.’s’ new manufacturing facility in Orlando. The fully air-conditioned 111,500-square-foot facility will feature two five-ton bridge cranes; 20,000 square feet of office space; and a rooftop observation land overlooking an array of photovoltaic solar panels, which will be installed at a later date. The facility will be constructed on a 10-month fast-track schedule.
Industrial
JACKSONVILLE, FLA. — Farmington Hills, Mich.-based Schafer Development has received approval to develop New Berlin Commerce Park, which will be located just northeast of the Port of Jacksonville. The park will offer 1 million square feet of industrial, distribution and commercial space. Located adjacent to the newly constructed Mitsui O.S.K. Terminal, the project within close proximity to interstates 95 and 295, which provides accessibility by land and sea.
ST. LOUIS — The St. Louis office of Clayco has completed construction for North Broadway Distribution Center, a 420,000-square-foot speculative warehouse facility located at 6500 Prescott in St. Louis. The $12.6 million facility is located on a 20-acre site, and is developed and owned by Balke Brown Associates, with Clayco and Forum Studio providing design-build services. Additionally, International Food Products Corp. has pre-leased 120,000 square feet of the building for its St. Louis warehousing operations.
HOUSTON — The Dow Chemical Company will be relocating its Houston Dow Center and Memorial Plaza operations to the Plaza at Enclave, a six-story, 344,053-square-foot building under construction in Houston’s Energy Corridor. The company will lease 280,000 square feet of the new building, located at 1254 Enclave Parkway, and will move in this September. CORE Real Estate is developing the property. Dow’s Jeff Cutler represented Dow, and Bonnie Kelley and Cody Armbrister of CBRE represented CORE Real Estate and the financial partner, BayNorth Capital, in the transaction.
CHICAGO — A partnership between Chicago-based Sterling Bay Cos. and The Deitcher Group has acquired the former Chicago Housing Authority headquarters, an eight-story, 107,977-square-foot building located at 626 W. Jackson Blvd. in Chicago’s West Loop. The new owner plans to complete major capital improvements to the property, which will begin in the second quarter. The property was acquired from the Chicago Housing Authority. Leasing of the property will be handled by The Deitcher Group. The acquisition price was not disclosed.
NEW YORK CITY — The Moinian Group plans to redevelop 1775 Broadway, a 26-story, 722,000-square-foot property in Manhattan, New York City. The $60 million redevelopment will consist of a refurbished façade as well as a new lobby and elevators. The approximately 500,000-square-foot property will also be renamed 3 Columbus Circle. Jimmy Kuhn, Michael Dreizen and Andrew Udis of Newmark Knight Frank will handle the marketing of the new space. The redevelopment is slated for completion first quarter 2009.
MADISON, N.J. — Mark Calabro and George Simson of Weichert Commercial Brokerage have completed the sale of a warehouse facility in Madison. The 15,000-square-foot building is situated on 1.3 acres at 345 Main St. Calabro and Simson represented the undisclosed seller in the transaction. The property was purchased by The Hampshire Companies for an undisclosed price.
HOUSTON — Liberty Property Trust, a Malvern, Pa.-based commercial real estate firm, has selected Cadence McShane Corp. as the designer and builder of Fallbrook Building No. 1, an industrial facility located at 8103 Fallbrook Dr. in Houston. The 613,335-square-foot development, which can be a single- or multi-tenant facility, is scheduled for completion in summer 2008. Munson Kennedy Partnership will provide architectural services for the project.
DUPONT, WASH. — First Industrial Realty Trust has acquired a 261-acre land site in DuPont for development. The acquisition and development are being completed through First Industrial’s Strategic Land and Development Joint Venture, FirstCal 3, with the California State Teachers’ Retirement System (CalSTRS), the second-largest public pension fund in the nation. The company plans to develop First Park Northwest Landing on the site, which is located along the Interstate 5 corridor. First Industrial had already started work to entitle the site for development. Initial plans call for the addition of new roads and improved utilities. The company plans to develop build-to-suit distribution and light industrial space. Tom Pehl, Tom Abbott and Milt Reimers of CB Richard Ellis represented First Industrial in the transaction.
CITY OF INDUSTRY, CALIF. — Rexford Industrial LLC has completed the final phase of the redevelopment of Rexford Industry Center, a 241,428-square-foot industrial park located at 15241-15277 and 15317-15339 Don Julian Rd. in City of Industry. The company converted an outmoded 147,370-square-foot manufacturing building on the site into a modern, highly functionally multi-tenant distribution facility, and constructed an additional 94,000-square-foot multi-tenant distribution building on excess land. The new building is fully leased, and the repositioned building is approximately 79 percent occupied.