MONROE COUNTY, GA. — Atlanta-based IDI has purchased a 257-acre land parcel from the Monroe County Development Authority for the construction of Meridian 75 Logistics Center in unincorporated Monroe County, for an undisclosed price. The project, valued at $125 million, will consist of four distribution facilities totaling 3 million square feet. Spaces options range from 100,000 square feet to more than 1.2 million square feet for build-to-suit and inventory space customers. Pad-ready sites for buildings, ranging from 200,000 square feet to more than 1.2 million square feet, will be ready for occupancy in third quarter 2008, at which time IDI will consider constructing its initial 500,000-square-foot building. The project is located at the intersection of Interstate 75 and Rumble Rd. Tommy Arnold of RT Realty’s Atlanta office represented the buyer in the land transaction.
Industrial
SARPY COUNTY, NEB. — Ford Storage & Moving Co. has selected Darling Construction to provide design/build services for a 120,000-square-foot, build-to-suit warehouse facility located in Hilltop Industrial Park in Sarpy County. The building is situated on 12 acres, and features 28-foot clear ceiling heights, ESFR sprinkler systems, outside storage for 70 trailers and two floors of office space totaling 16,000 square feet. Construction is set to begin this spring, with completion in September. Ford will be relocating its corporate offices to the building from its current location at 78th and L streets in Omaha, Neb.
YORK, PA. — CB Richard Ellis has brokered the sale of York Business Center, a 1.5 million-square-foot warehouse/distribution and light industrial complex in York. Situated on 101 acres at 601 Memory Ln., the property contains three buildings as well as 20 acres for future retail development. Michael Hines, Michael Blunt and Bo Cashman of CB Richard Ellis represented the seller, a joint venture partnership between Brasler Properties and New Boston Fund. The center was sold for an undisclosed price to Needham, Mass.-based Equity Industrial Partners.
ROCKY HILL, CONN. — Winstanley Enterprises has sold a portion of WinBrook Business Park to Burris Logistics for $14.65 million. Located on the west end of Brook Street near Interstate 91, the 92-acre parcel will be used for the development of a 500,000-square-foot refrigerated warehouse and distribution center in Rocky Hill. Phase I of the construction, which will include 250,000 square feet of the facility, is slated for completion in September 2008. The second phase, which will feature a 250,000-square-foot expansion, is scheduled to begin within 2 to 3 years. The facility will serve as the warehouse and distribution center for BJ’s Wholesale Club in the Northeast. Jay Morris and Phil Gagnon of O, R&L Commercial co-brokered the transaction with Pat Mulready of CB Richard Ellis. Sandra Johnson of Metro Hartford Alliance assisted in the sale as well.
WARRENDALE, PA. — STAG Capital Partners has acquired a 148,000-square-foot warehouse/distribution center in Warrendale. Located at 405 Keystone Dr. in the Thorn Hill Industrial Park, the building is fully leased to the Serco Group. Mike Chase represented STAG in-house, and Louis Oliva of Grubb & Ellis represented the seller, Robinson Properties, in the transaction.
SAN ANTONIO — Denver-based ProLogis has begun construction on two industrial facilities located in City Park East Distribution Center at 8555 – 8569 N.E. Loop 410 in San Antonio. One 52,000-square-foot site is being built for Gulf Coast Paper Co., while another 101,000-square-foot site under construction is currently available for lease. Both buildings are scheduled for completion late this year. City Park East Distribution Center is a four-building, master-planned industrial park totaling 252,900 square feet.
SAN ANTONIO — Spartanburg, S.C.-based Tindall Corp. has begun construction on a concrete manufacturing plant located at 2222 W. Malone Ave. in San Antonio. The 114,000-square-foot facility, which will be Tandell’s fifth plant, is scheduled for completion this summer. The $25 million project will house 250 employees upon completion.
HOUSTON — NAI Houston has brokered the sale of an industrial facility located at 8721-A Clay Rd. in Houston for an undisclosed amount. Apoena Corp. purchased the 20,000-square-foot facility from Stonebridge Real Estate Development & Investments. Chris Kugle, Travis Land and John Ferruzzo of NAI Houston represented the buyer in the transaction.
REDLANDS, CALIF. — A private investor has acquired a 266,850-square-foot industrial property in Redlands from Oakmont Redlands Palmetto Ave. LLC for $20.4 million. The Class A property is located at 26940 Palmetto Ave. and offers proximity to the San Bernardino International Airport. Features include new concrete tilt-up construction, 2,800 square feet of expandable office space, an ESFR Sprinkler System, 49 dock-high loading doors and 32-foot ceilings. Clyde Stauff and Stephen Calhoun of Colliers International represented the buyer, and Cushman & Wakefield represented the seller in the transaction.
PHOENIX — Armor Designs has signed a 5-year, $2.7 million lease for a 71,345-square-foot industrial facility in Phoenix. The facility is located at 4645 South 35th St. near the Maricopa (10) Freeway. Rich Sica of DAUM Commercial Real Estate Services represented the lessee and Pete Klees of Grubb & Ellis represented the lessor, PCCP Bar I LLC, in the transaction.