MIAMI — Iron Mountain, a Boston-based information protection and storage company, has signed a 130,000-square-foot warehouse lease in Miami. John Vaught and Elsa Heredia with CB Richard Ellis’ Miami Airport office represented the tenant, and Industrial Group Realty represented the landlord, 114th Street Property LLC. The facility is located at 3355 NW 114th St. near Interstate 75 and the Miami International Airport.
Industrial
ABERDEEN, MD. — Opus East and the U.S. Army are developing the Government and Technology Enterprise (G.A.T.E.), a 200-acre development at Aberdeen Proving Ground in Aberdeen. Opus plans to build three buildings on the first land bay to be developed, including a research and development facility and two speculative office buildings. The first building is a 60,000-square-foot single-story research and development facility that is expected to be complete by summer 2008. The second building planned is an 80,000-square-foot office building, which will be underway in 2008. The G.A.T.E. project is part of the U.S. Army’s Enhanced Use Lease (EUL) program. Under the terms of the EUL, Opus will lease each land bay for 50 years, allowing the U.S. Army to develop underutilized property and redirect the proceeds back into the maintenance and improvement of Aberdeen Proving Ground facilities.
VIRGINIA BEACH, VA. — Thalhimer has brokered the sale of One Bowland Parkway in Virginia Beach. Emmaus Way Enterprises acquired the 17,500-square-foot office/warehouse building from One Bowland Parkway LLC for $1.8 million. The property is situated on 1.16 acres at 2401 Bowland Parkway. The owner will operate their company, Triple I Technologies, on the property. Janet Whitbeck and Jennifer Whitbeck of Thalhimer/Cushman & Wakefield brokered the sale.
KNOXVILLE AND MARYVILLE, TENN. — Bob Thornton of Baker Realty Co. has brokered two industrial sales in the Knoxville area, totaling approximately 220,000 square feet, for $3.4 million. The 162,500-square-foot Silver Furniture building in Knoxville, situated on 15.5 acres, sold for $2.25 million, while Klote International’s 54,000-square-foot industrial property in Maryville, situated on 10 acres, sold for $1.2 million.
CONCORD, N.C. — Charlotte, N.C.-based Beacon Partners has purchased land in the International Business Park in Concord. The firm has closed on 11 acres in Phase II of the park and plans to launch a multi-building speculative development program. CB Richard Ellis brokered the transaction. The Nolim Group, owners of the business park, intended for lots 10 and 11, which Beacon Partners purchased, to become speculative building sites.
EDGEWOOD, MD. — Joseph Casey and Thomas Burns of Cushman & Wakefield have represented Boston-based High Street Equity Advisors in the acquisition of 1704 Trimble Rd., a 105,000-square-foot industrial property, in Edgewood from an undisclosed seller. The property was built in 2001 on 10.8 acres and features 28-foot ceiling heights, drive-in and dock loading. Casey and Burns will lease the property for its new owner.
COCOA, FLA. — Monmouth Real Estate Investment Corp. has acquired an 89,101-square-foot industrial building, located at 3155 Grissom Pkwy. in Cocoa for $10.4 million. Regional Development Group constructed the building in 2006 and sold the property to Monmouth. The property is net-leased to FedEx Ground Package System, a subsidiary of Federal Express Corp., through July 2017.
WOBURN, MASS. — The CB Richard Ellis Capital Markets Team of Gary Lemire, Bill Moylan, Chris Angelone and Mutt Pullen has brokered the $15.6 million sale of The Charrette Property in Woburn. The property comprises four industrial-zoned buildings — 31 Olympia Ave., 3-15 Normac Rd., 16-24 Normac Rd. and 23 Normac Rd. — situated on 14.48 acres. Located on the northbound side of Interstate 95 at Exit 36, The Charrette Property is located in close proximity to the Mishawum Station and the Anderson Regional Transportation Center, which offers MassHighway’s Park and Ride carpool service and express bus service to Logan International Airport. Lemire, Moylan, Angelone and Pullen represented the seller, Olympia Avenue Associates, and procured the buyer, Morris & Morse Co., in the transaction. Morris & Morse Co. has appointed Mark Reardon, David Corkery and Jason Levendusky of CB Richard Ellis to market the facilities.
VICTORVILLE, CALIF. — Stirling Capital Investments, a joint venture between Foothill Ranch, Calif.-based Stirling Enterprises and Denver-based DCT Industrial Trust Inc., has broken ground for the construction of a 296,000-square-foot Class A distribution center, which will be located on a 17.48-acre site within Southern California Logistics Centre in Victorville. The facility will feature 32-foot ceilings, an ESFR sprinkler system, 147 trailer parking spaces and 116 dock doors. The partnership has executed an agreement with Cal Cartage, a third party logistics provider, to co-market the facility. The building will be the first logistics-oriented facility at the park, and will provide warehouse management and logistics fulfillment services. Completion is slated for second quarter 2008.
SANTA ANA, CALIF. — The Bloom Family Trust has purchased RIF III Dyer, a 187,000-square-foot warehouse/distribution center located at 601 W. Dyer Rd. in Santa Ana, from Rexford Industrial LLC for a total consideration of $22.3 million. Built in 1973, the property features an upgraded fire sprinkler system, a 180-foot truck court and 15,000 square feet of renovated offices. The facility is currently 26 percent occupied by Longmark. Kevin Turner, Michael Hartel and Casey Immel of Voit Commercial Brokerage represented both parties in the transaction.