NORFOLK, VA. — Norfolk-based Pickle Property has purchased a 29-acre industrial site in Norfolk, from Virginia Beach, Va.-based T & S Associates, for $3.4 million. The property is located at 508 E. Indian River Rd. Samuel Walker and Bob Thornton of Thalhimer | Cushman & Wakefield Alliance’s Virginia Beach, Va., office negotiated the sale.
Industrial
FOREST PARK, MORROW AND WOODSTOCK, GA. — Atlanta-based Bryant Commercial Real Estate has arranged three sales in Forest Park, Morrow and Woodstock, totaling $5.2 million. Atlanta-based Frontera Imports purchased a 50,000-square-foot industrial facility, located at 143 Lake Mirror Rd. in Forest Park, from U-Freight America, for $1.4 million. Michael Sutter and Rick Tumlin of Bryant Commercial represented the buyer, and the seller was represented by Britton Burdette of Marcus & Millichap’s Atlanta office. Marietta, Ga.-based JOC Acquisitions acquired a 76,500-square-foot, 10-acre facility in Morrow, from Woodstock, Ga.-based Precision Jet, for $1.8 million. Bryant Dromey and Rick Tumlin were the sole brokers. An undisclosed investor purchased a 76,500-square-foot, 10-acre facility in Morrow from Calif.-based Mariani & Seifert Family Trusts, for $2 million. The property is located at 6835 Southlake Pkwy. Buddy Hill of Grubb & Ellis’ Atlanta office and Rick Tumlin were the sole brokers.
SAN ANTONIO — George Harcourt of Grubb & Ellis recently represented Old Bastrop Road Ltd. in the sale of an industrial property situated on approximately 8 acres in San Antonio. Luis E. Reyes acquired the 17,500-square-foot property, which is located at 8163 Old Bastrop Rd.
LOUISVILLE, COLO. — ConocoPhillips has acquired Sun Microsystems Inc.’s StorageTek campus in Louisville for $58.5 million. Sun Microsystems will continue to lease back the 432-acre property until it fully relocates its operations to its nearby Broomfield, Colo., campus. ConocoPhillips reportedly plans to construct a corporate learning center and global technology center, which will house the company’s worldwide training center, on the site. Completion is slated for 2012. Kenneth Rudy and Michel Seifer, along with Stew Mosko of Fuller Real Estate, negotiated the transaction.
TEMPE AND CHANDLER, ARIZ. — Phoenix-based Biltmore Holdings has acquired a five-property, 515,722-square-foot flex-industrial portfolio in Tempe and Chandler from Phoenix-based DMC Investment Group for $55.5 million. The portfolio includes Kyrene Commerce Center in Tempe, which sold for $12.6 million; the $9.3 million Tempe Commerce Center in Tempe; Ocotillo Business Center in Tempe, which sold for $11.8 million; the $8.3 million Chandler Tech Center in Chandler; and the $13.5 million ADP Building in Chandler. Bob Buckley, Tracy Cartledge and Steve Lindley of Grubb & Ellis|BRE Commercial represented both parties in the transaction.
SIMPSONVILLE, S.C. — Ford Borders and Grice Hunt of Greenville, S.C.-based NAI Earle Furman have arranged the sale of two industrial buildings on behalf of the buyer, Bridgeport Properties Harrison, in Simpsonville. The buildings total 410,503 square feet and are located at 101-103 Harrison Bridge Rd.
CAROL STREAM, ILL. — Darwin Realty & Development Corp. has brokered the sale of a 95,000-square-foot industrial building located at 410-420 Fullerton Ave. in Carol Stream. The facility is situated on 7.8 acres, and features 30-foot clear ceiling heights, 10 exterior docks, two drive-in doors, 800 amps of power and ESFR sprinkler systems. Noel Liston of Darwin represented the seller, Panattoni Development, in the transaction. The buyer, Porteous Fastener Co., had previously leased the facility; it was represented by Alden Management Group. The acquisition price was undisclosed.
CAROL STREAM, ILL. — The Rosemont, Ill., office of Cushman & Wakefield has represented TA Associates in a 347,440-square-foot lease renewal and expansion at 230-260 Lies Rd. in Carol Stream. The lessee, Lagasse, will expand its current 150,796-square-foot lease to occupy the entire warehouse/distribution building. Britt Casey and Mike Hawryluk of Cushman & Wakefield represented building ownership in the transaction; Lagasse was represented by Claire Paulson and Dominic Carbonari of Grubb & Ellis.
ANN ARBOR, MICH. — L. Mason Capitani (LMC) has brokered the sale of a 32,368-square-foot industrial facility located at 161 Enterprise Dr. in Ann Arbor. The buyer, Electro ARC Manufacturing Co., plans to use the building as its North American headquarters. Thomas Jablonski of LMC represented the undisclosed seller in the transaction. The acquisition price was not disclosed, but the listing price was $1.2 million.
HOUSTON — Duke Realty Corporation (Duke) has signed leases with two tenants for spaces in its Westland I industrial building located at Eldridge Parkway, just south of Highway 290 and 2 miles west of the Sam Houston Tollway in Houston. Simplex Grinnell LP will occupy more than 51,000 square feet of the building, while Recall Total Information Management will occupy nearly 47,000 square feet. The 263,000-square-foot industrial building, which was completed in January of this year, is now 70 percent occupied. Faron Wiley, Joseph Smith, Mike Scimo and Jim Bob Taylor of CB Richard Ellis represented Simplex Grinnell and Recall Total Information Management in the transaction, while Cory Driskill of Duke represented the lessor.