CHICAGO — Columbus-based The Pizzuti Companies has broken ground for the construction of Pinnacle XXIII, a 650,000-square-foot speculative distribution facility located within Pizzuti’s 800-acre, master-planned Pinnacle Business Center in the Interstate 55 corridor of Chicago. The building features a cross-docked configuration and 30-foot clear ceiling heights. It is scheduled for completion in May and once complete, will leave Pizzuti with 200 undeveloped acres in the industrial park.
Industrial
NORTHBROOK, ILL. — CB Richard Ellis (CBRE) has brokered the sale of a 123,951-square-foot industrial warehouse located in Sky Harbor Industrial Park at 3411 Woodhead Dr. in Northbrook. The facility features 18-foot clear ceiling heights as well as 18,372 square feet of office space on the first floor and 7,079 square feet of office space on the second floor. Keith Puritz, Bob Reaumond and Brett Kroner of CBRE represented the seller, Woodhead Industries. Harlery Korman of Korman/Lederer represented the buyer, Leader Automotive Wholesalers. The acquisition price was not disclosed, but the property listed for $5.55 million.
SANTA ANA, CALIF. — Voit Commercial Brokerage has completed two separate industrial transactions in Santa Ana for a total consideration of $36.5 million. In the first transaction, 601 W. Dyer Road LLC purchased an 183,571-square-foot industrial property, which is located at 601 W. Dyer Rd., from RIF III-Dyer Road LLC. Kevin Turner and Michael Hartel of Voit represented both parties in the transaction. Additionally, Behr Process Corp., a manufacturer of paint products, has signed a 6-year lease for a 223,560-square-foot industrial property, which is located at 1995 Standard Ave. Turner represented Behr Process Corp. in the transaction; the lessor, PR I Santa Ana Industrial CA LLC, was self-represented.
CLAYTON, N.C. — Crown West Realty has acquired Carolinas Distribution Center in Clayton for $61.25 million from JER Clayton, a joint venture between JER Clayton c/o J.E. Robert Co. and Fulcra Enterprises. The five building, Class A industrial warehouse and cold storage facility consists of 1.1 million square feet. It is 98 percent leased to Hallmark Cards, Smithfield Foods, Kuehne+Nagel and HBI Priority Home Freight. The former Winn-Dixie distribution center is located at 1053 Shotwell Rd. Rob Cochran, Chris Norvell, Jim Allaire and Phil Iglehart of Colliers Pinkard represented the seller in the transaction.
AURORA, ILL. — Oak Brook, Ill.-based Krusinski Construction Co. has received a more than $18 million contract to build a 416,000-square-foot, LEED-certified industrial facility at the corner of Diehl and County Line roads in Aurora. The building will feature 380,000 square feet of warehouse space with a 62,000-square-foot mezzanine, 35,000 square feet of office space, 24 interior docks and parking for 240 vehicles. The site will also be able to accommodate a 100,000-square-foot future expansion. Sustainable features of the facility will include special parking for bicycles and fuel-efficient vehicles, high efficiency lighting and HVAC systems and a rainwater collection system. Kiley Green of Georgia-based Randall-Paulson Architects is providing design services for the project. Groundbreaking occurred in September, and the project is expected to be complete in July 2008.
DALLAS — ProLogis has acquired 88 acres of land for a new industrial park in East Dallas. The first phase of the park, to be located near Interstate 30 at the northeast corner of South Buckner Boulevard and Eastpoint Drive, is slated to begin construction in the first half 2008. Phase I will comprise the construction of a 390,000-square-foot distribution facility. Upon completion, the park will consist of six buildings totaling 1.6 million square feet of distribution space. ProLogis acquired the land from Buckner International for an undisclosed amount. Pax Glenn of Glenn Commercial Real Estate represented the buyer in the transaction, and Mike Wagner of the Baptist Foundation of Texas represented the seller.
SAN DIEGO — San Diego-based Sudberry Properties Inc. has completed the third phase of Ocean View Hills Corporate Center, a 663,000-square-foot industrial complex located on Otay Mesa Road in San Diego. The $65 million development consists of six one-story, tilt-up concrete buildings, ranging in size from 56,000 to 183,000 square feet and divisible into units ranging from 7,900 to 50,700 square feet. Each rentable space has dock- and grade-level loading, and eight units feature a mezzanine space. San Diego-based Smith Consulting Architects provided architectural services for the project; Reno Contracting served as general contractor.
TEMPE, ARIZ. — A joint venture, including Baseline Industrial Tempe LP and MES-19 LLC, has acquired Baseline Industrial Center, a 109,650-square-foot industrial complex located at the intersection of West Baseline and South Kyrene roads in Tempe, from BICAZ LLC for $9.54 million. Situated on a 5.24-acre site, the property consists of 106 individual units in five buildings, which range in size from 9,000 to 40,000 square feet. Alan Pekarcik and Dan Vittone of Voit Commercial Brokerage’s Irvine, Calif., office represented both parties in the transaction.
BOYNTON BEACH, FLA. — Christian Lee, Charles Foschini, Christopher Apone, Jeff Kelly and Robert Smith of CB Richard Ellis have represented Dalfen America in the $37.7 million sale of Boynton Commerce Center, a four-building, 295,571-square-foot Class A industrial park located in the TriCounty industrial market in Boynton Beach. Des Moines, Iowa-based Principal Real Estate acquired the property, which 95 percent leased to 28 tenants.
SAVANNAH, GA. — San Francisco-based AMB Property Corp. has broken ground on its first speculative building in the Savannah market, a 343,000-square-foot distribution facility that is designed to accommodate distribution companies with warehousing needs from 60,000 to 343,000 square feet. The property will be a rear-loading, tilt-wall, institutional grade facility with a 30-foot ceiling height. AMB has acquired 249 acres of land outside of Savannah for further industrial development.