BIRMINGHAM, ALA. — Nashville, Tenn.-based WexTrust Equity Partners sold a 294,000-square-foot, Class A industrial building in Birmingham for $14.4 million to an undisclosed buyer. The bulk distribution and light manufacturing facility, located in the Jefferson Metropolitan Industrial Park near Interstate 20, is 100 percent leased to Plastech Romulus, a manufacturer of plastic injection molded automotive components. Don Albright and Douglass Johnson of CB Richard Ellis’ Nashville office brokered the sale.
Industrial
HENRY COUNTY, GA — Panattoni Construction broke ground on a $50 million, 1.5 million-square-foot distribution center in Henry County for Benton Harbor, Mich.-based Whirlpool Corporation. The project is located at 1350 SR Highway 42 on 91 acres and will feature 12,000 square feet of office space. Panattoni also developed the project, and the facility was designed by Irvine, Calif.-based Ware Malcomb. Construction is slated for completion in June 2009.
BELVIDERE, ILL. — Marengo, Ill.-based Interserve has entered into an agreement with LandMark Real Estate Group for the build-to-suit purchase of a 42,000-square-foot manufacturing and distribution facility located in LandMark Logistics Park in Belvidere. The new facility will consolidate the company’s current operations in Marengo and Belvidere. Ed Lowenbaum of LowenbaumRep represented Interserve in the transaction. Shane Van Sickle provided in-house representation for LandMark Real Estate Group. The acquisition price was undisclosed.
MILFORD, CONN. — Cadcom, an aerospace parts and components manufacturer, has acquired a 10,400-square-foot building in Milford from JKB Medical Technologies for $1 million. Situated on 2.5 acres, the fully air-conditioned building is located at 110 Raton Dr. The seller plans to occupy a 26,000-square-foot building on the same street, while the buyer is expanding from its prior location at Quirk Road in Milford. Dan Boynton and Scott Zakos of Boynton Commercial represented the buyer in the transaction.
MESA, ARIZ. — Wrightwood Capital has provided a $10.8 million loan to Pacific Western Partners for the construction of an industrial property. Pacific Western is developing Pecos Gateway on the 10.5-acre site, which is located between Ellsworth and Sossaman roads in Mesa. The development plans to construct three industrial building with more than 125,000 square feet of divisible, for-lease space. Each building will feature 18- to 20-foot clear heights, grade-level loading and truck wells, and office space. The financing opportunity was sourced through Rich Harris of Newport Venture Capital.
FALL RIVER, MASS. — DJM Realty, a division of Gordon Brothers Group, has acquired five industrial properties in Fall River from Quaker Fabric. DJM Realty acquired the properties through a bankruptcy auction and has sold one of the properties, a 227,068-square-foot building located on Davol Street, to Strictly By-The-Book. The four other properties are: 941 Grinnell St., 17 buildings consisting of 687,789-square-foot on 37.58 acres; 81 Ferry St., a 194,576-square-foot warehouse situated on 8.28 acres; 1450 Brayton Ave., a 162,188-square-foot industrial building situated on 7.39 acres; and 387 Quarry St., a 66,187-square-foot plant situated on 3.64 acres. The acquisition price was undisclosed.
.APOPKA, FLA. — Small Bay Partners will develop the Apopka CommerCenter, a 16-acre small bay industrial facility on Orange Avenue in Apopka. Acquired last December, the site will accommodate 200,000 square feet of industrial space to be subdivided for small businesses that require 2,000 to 20,000 square feet of space. The project will start construction in the first quarter of 2009 and complete Phase I in the third quarter of 2009.
CHICAGO — NAI Hiffman has completed the sale of a 305,000-square-foot Dominick’s distribution facility located in Crawford Industrial Park at 4404 W. District Blvd. in Chicago. The facility is situated on 17 acres and features 72 cross-docked loading docks, 23-foot clear ceiling heights and 95 parking spaces. Lawrence Much and Stephen Connolly of NAI Hiffman represented the seller, Dominick’s Finer Foods, as well as the buyer, an affiliate of New York City-based KTR Capital Partners. The same team will also handle leasing of the facility. KTR has also announced the construction of a new 180,000-square-foot distribution facility located adjacent to the existing building. Keeley Construction has been retained for the improvements and expansion of the existing facility. The acquisition price was not disclosed.
MONROE TOWNSHIP, N.J. — ING Clarion has purchased 34 Englehard Dr., a 203,000-square-foot facility in Monroe Township. Located in the Exit 8A market, the manufacturing/warehouse building is fully leased to Berry Plastics Corp. Cushman & Wakefield facilitated the transaction. The seller and the acquisition price were undisclosed.
LOS ANGELES — AMB Property Corp. has purchased a 902,000-square-foot industrial facility located in Los Angeles’ Inland Empire submarket. The Class A property, AMB Loma Grande Distribution Center, is currently occupied by Wal-Mart Stores Inc. With this acquisition, AMB Property now owns more than 22 million square feet of distribution facility space in Southern California. The seller and acquisition price were not disclosed.