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.
Industrial
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.
LOS ANGELES — G.A. Gertmenian & Sons, an importer and wholesaler of accent and area rugs, has broken ground for the construction of a 150,000-square-foot corporate headquarters and warehouse at 300 W. Avenue 33 in the Lincoln Heights area of Los Angeles. Whittier, Calif.-based Oltmans Construction Co. has been selected to oversee the design and build project for the development. The project will feature a concrete tilt-up structure and 25,000 square feet of mezzanine office space. HPA of Irvine, Calif., provided architectural services for the project, which is slated for completion in fall 2008.
PERRIS, CALIF. — First Industrial Realty Trust is developing Rider Distribution Center, a 355,067-square-foot warehouse/distribution facility located at 175 E. Rider St. in Perris. Slated for completion in second quarter 2008, the property will be divisible to 100,000 square feet and feature 91 dock-high loading doors, three grade-level doors and a large truck lot. Jeff Givens and Stan Nowak of Coldwell Banker Commercial Almar Real Estate Group are the exclusive leasing agents for the new property.
IRVINE, CALIF. — White Road LLC has acquired a 62,587-square-foot manufacturing facility, which is located at 16912 Von Karman Ave. in Irvine, for $10.6 million. The freestanding building features five ground-level entrances, two dock-high doors with 18-foot clearance, 3,000 amp electrical service and a corporate headquarter office component. Prime Tech Cabinets Inc., an interior design and manufacturing company, will occupy the building. Greg Sargenti of Voit Commercial Brokerage’s Anaheim, Calif., office represented the buyer; Ken Ward of CRESA represented the seller, bkm Von Karman Associates, in the transaction.
KENOSHA, WIS. — Chicago-based First Industrial Realty Trust has entered into a build-to-suit agreement with Rust-Oleum Corp. for the development of a 600,000-square-foot distribution center located within First Industrial’s 169-acre First Park Kenosha industrial park in Kenosha. The facility, located at the corner of State Route 158 and 88th Avenue, will anchor First Park Kenosha, and will feature expansion capacity up to 850,000 square feet. Groundbreaking will occur this month, with completion scheduled for fourth-quarter 2008.
MILWAUKEE — Milwaukee-based Colliers Barry and The Dickman Company have brokered the sale of a 76,800-square-foot industrial building located at 3801 W. Green Tree Rd. in Milwaukee. The property was sold by LJT Properties to CMK. Pete Slezak of Colliers was the listing broker, and Sam Dickman of The Dickman Company was the selling broker. The sales price was not disclosed.
CHICAGO AND BENSENVILLE, ILL. — Niles, Ill.-based Epic/Savage Realty Partners/TCN Worldwide has arranged two Chicagoland industrial sales totaling $4.1 million. In Chicago, Ed Brandt and Phil Rosenberg of Epic/Savage represented Florida-based Kin Properties in the $2.6 million sale of a 24,000-square-foot industrial property, located at 5720-5734 W. 55th Ave., to a private investor. The facility is currently leased to Interstate Brands Corp. The buyer was represented by Albert Schulman of Paine/Wetzel • ONCOR International.
HAMDEN, CONN. — Ted Schaffer and Albert Scafati of Press/Cuozzo Commercial Services have brokered the $600,000 sale of a 10,000-square-foot manufacturing property in Hamden, Conn. Delta Property Holdings purchased the property from Linda and Ralph Caffalette. The property, located at 15 Hamden Park Dr. in the Hamden Industrial Park, will serve as the new headquarters of Delta Tool & Mold Co., a local business. Carl Russell of George J. Smith & Son Realtors represented the buyer in the transaction, and Schaffer and Scafati represented the seller.