ELIZABETH, N.J. — AMB Property Corp. and Portview Properties have completed phase I of the redevelopment of AMB Portview Commerce Center in Elizabeth. Phase I included the redevelopment of a 144,000-square-foot distribution center. Phase II will comprise 215,000 square feet across two facilities. Redevelopment of phase II is set to begin first quarter 2009 with completion slated by fourth quarter 2009. WW Grainger has signed a 25,000-square-foot lease in the first building. Colliers Houston is the exclusive leasing agent for the site.
Industrial
INDUSTRY, CALIF. — Masco Corp. has completed the disposition of an 871,024-square-foot industrial property, which is located at 825 S. Ajax Ave. in Industry. 82A Developments LLC purchased the property for $15 million. The buyer plans to demolish one of the existing buildings, which is approximately 10,000 square feet, and redevelop the land into an industrial park that will include small units for lease. Craig Phillips of Lee & Associates represented both parties in the transaction.
FORT WALTON BEACH, FLA. — Fort Walton Beach-based Big Dog LLC has acquired Burton Golf Facility, a 109,745-square-foot warehouse facility located at 645 Anchors St., in the Fort Walton Beach Commerce and Technology Park, from Burton Golf, for $5.1 million. The building is comprised of 47,807 square feet of warehouse space, 48,282 square feet of manufacturing space and 13,656 square feet of commercial office space. The seller was represented by Russell Wamble of Destin, Fla.-based Sterling/Chambless.
WAUKESHA, WIS. — NAI MLG Commercial has completed the sale of a 561,276-square-foot industrial building, located at 1200 W. Sunset Dr. in Waukesha, for $11.3 million. The building, which is situated on 54 acres, is scheduled to be demolished so that the property can be redeveloped into a Target-anchored retail center. The property was acquired by Opus North Corp. from Supervalu Inc. Barry Chavin and Curt Pitzen of NAI MLG were the sole brokers in the transaction.
WASHINGTON, D.C. — Washington, D.C.-based National Pubic Radio (NPR) has acquired a 165,000-square-foot historic warehouse building in Washington, D.C.’s NoMa district, from Washington, D.C.-based J Street Development, with an institutional partner, for an undisclosed amount. NPR plans to move its headquarters to the building, with occupancy projected for 2012. NPR will keep the building façade and portions of the structure in place and add a 10-story office tower, slated to begin construction in September 2009. The headquarters will include a 60,000-square-foot broadcast and multimedia operations area and a public space for live shows and events. Vernon Knarr, Art Greenberg, Julie Rayfield and David Perlstein of Studley’s Washington, D.C. office represented the buyer, and the seller was represented by Nick Pappas of Eastdill Secured’s Washington, D.C. office. The property is located at 1111 North Capitol St. N.E.
PISCATAWAY, N.J. — The Sudler Companies is currently constructing a 90,000-square-foot pre-cast building in its Corporate Park 287 property in Piscataway. Located at 6 Corporate Place, the project is part of an adaptive reuse of a former 231,000-square-foot, two-story office building. The new building will be able to accommodate several uses, including flex, warehouse and data center requirements. Amenities include 32-foot clear ceilings and ample parking. Sudler’s 200-acre Corporate Park 287 is a master planned community that features office and industrial development off Route 287.
IRVINGTON, N.J. — Stephen Elman and James Frank of Cushman & Wakefield’s East Rutherford office have completed the $1.6 million sale of a 26,3000-square-foot warehouse in Irvington. The former Revlon facility is situated off I-78 at 199 Coit St. Elman and Frank represented Revlon in the transaction, and David Blitt and David Posner of Bussel Realty represented the buyer, Island Plumbing.
PELHAM, N.H. — Hugo Overdeput of Grubb & Ellis|Coldstream Real Estate Advisors has completed the $2.6 million sale of an industrial facility in Pelham. The approximately 83,000-square-foot building sits on about 25 acres at 60 Pulpit Rock Rd. Overdeput represented the seller, Lehman Brothers Small Business of California, and the buyer, J.T. Manufacturing Corp., was represented by Chris Goodnow of Goodnow Real Estate Services.
JACKSON COUNTY, GA. — IDI is developing Jefferson Distribution Center, a $120 million, 2.8 million-square-foot master-planned business park in Jackson County. The project will be comprised of five buildings, situated on 225 acres at the intersection of Interstate 85 and Highway 82. The first speculative building, an inventory facility of 1 million square feet, is projected to begin construction in third quarter 2008 and will be available for occupancy in second quarter 2009. The facility will feature build-to-suit and inventory space options ranging from 30,000 square feet to 1.1 million square feet.
UNIVERSITY PARK, ILL. — Denver-based ProLogis has leased ProLogis Park 57, a 320,000-square-foot industrial facility located in University Park, to Iowa-based Jacobson Cos. The company plans to use the facility as a regional distribution center, and was represented in the lease transaction by Brian Fogelberg and Larry Johnson of CB Richard Ellis. Terms of the lease were not disclosed.