PITTSBURGH — Sun Life Financial’s United States division has purchased 407,000 square feet of industrial space at 79 North Industrial Park in Pittsburgh. In addition, Sun Life Financial purchased 26 acres of land at the property’s address. John Mulvihill of Sun Life Financial represented the buyer in-house. The sale price and seller were undisclosed.
Industrial
INDIANAPOLIS — Indianapolis-based Colliers Turley Martin Tucker (CTMT) has completed the sale of a 57,989-square-foot industrial facility, located at 2155 Fields Blvd. in Indianapolis, for $2.05 million. The property was acquired by Blue Arc Realty, which will lease approximately 25,000 square feet of the building to additional tenants and occupy the remainder of the space. The property was sold by The HAVI Group, which was represented by Fritz Kauffman and Bart Book of CTMT. Book and Michael Weishaar, also of CTMT, represented the buyer.
NEW YORK CITY — Cool Wind Ventilation Corp. has purchased a 35,000-square-foot industrial building in the Glendale neighborhood of Queens, New York City, from Michael Schwartz of Mechanics Building Material for $5.8 million. Located at 82-40 73rd Ave., the property is situated on a 50,000-square-foot lot zoned for manufacturing. The building features a 9,000-square-foot yard, 20 parking spaces, 24-foot ceilings, a drive-in, two interior tailboards, sprinklers and heavy power and gas-radiant heat. Joe Hentze of Hentze-Dor Realty represented the buyer in the transaction, and Larry Smith and Hillel Galosher of Sholom & Zuckerbrot Realty represented the seller.
SEABROOK, TEXAS — David Lee of Transwestern Houston has brokered the sale of a 35-acre tract of undeveloped land in Seabrook to Philadelphia-based customized logistics solutions company XTL, Inc. The buyer plans to construct a 300,000-square-foot to 400,000-square-foot robotic warehouse and distribution center on the site, which is located within the master-planned Bayport complex.
ANAHEIM, CALIF. — Mike Hefner of Voit Commercial Brokerage represented the buyer, a private investor, in the acquisition of a 21,230-square-foot industrial building, which is located at 1265 N. Patt St. within North Anaheim Industrial Park in Anaheim. North Anaheim Association sold the property for $3.75 million. Jim DeRegt and Brad Gilmer of Lee & Associates represented the seller in the transaction.
DAVIE AND PLANTATION, FLA. — Scott O’Donnell and Dominic Montazemi of CB Richard Ellis’ Boca Raton, Fla., office were the sole brokers in the $21.5 million sale of the 254,076-square-foot Rand Industrial portfolio situated in Davie Park of Commerce in Davie and Plantation Technology Park in Plantation. Matecumbe Capital Management acquired the property from Rand Industrial Realty No. 101, LP. The nine-building portfolio was 91.1 percent occupied at the time of the transaction.
MIAMI — Viktoria Telek of ComReal Miami’s industrial division has represented Costex Corp. in its acquisition of 17 acres of industrial land, located at 5800 N.W. 74th Ave. at the intersection of the Palmetto Expressway and 58th Street in Miami. The property consists of several office/warehouse buildings and was purchased for $21 million. Costex plans to keep the existing office building on the site and custom-build an additional 200,000 square feet of distribution warehouse space. Costex’s current distribution center in Miami houses one of the largest inventories of new replacement parts for Caterpillar equipment in the United States.
ELK GROVE VILLAGE, ILL. — Chicago-based First Industrial Realty Trust has acquired a 7-acre land site located at 2000 Arthur Ave. in Elk Grove Village for the development of a 142,000-square-foot distribution facility. When complete, the building will accommodate one or two users, and will feature 30-foot clear ceiling heights and 38 dock doors. Groundbreaking is expected to occur in spring 2008, with completion scheduled for the end of the year. The property was acquired from Quebecor World; the acquisition and development are being completed through FirstCal 1, First Industrial’s development and repositioning joint venture with the California State Teacher’s Retirement System.
LAKE ZURICH, ILL. — Podolsky Northstar CORFAC International has brokered the sale/leaseback of a 68,650-square-foot industrial facility, located at 580 Capital Dr. in Lake Zurich, for $5.9 million. The building is situated on approximately 4 acres, and features 24-foot clear ceiling heights, heavy power and expandable parking. Corey Chase of Podolsky Northstar represented the seller, Affinity Processing Services. The property was acquired by Capital Realty & Development.
SANTEE, CALIF. — San Diego-based Pacific Realty Advisors has acquired a two-building industrial complex, which is located at 8745-8747 N. Magnolia Ave. in Santee, for $5.34 million. The 48,137-square-foot property is 100 percent leased to tenants, including National Spring, American Sheet Metal and Formica. James Renner of Inland Pacific Commercial Properties represented both Highway 67 LP, as well as the seller, Sciarrino Family Trust, in the transaction.