COMPTON, CALIF. — Aloha Freight Forwarders, a freight forwarding company that operates between Hawaii and California, has acquired an 83,527-square-foot industrial building, which is located at 1800 S. Anderson St. in Compton, for $10.7 million. The property, which was recently renovated, features a four-ply built-up roof, 17 dock-high positions and doors, and a full concrete truck court. Don Smith and Craig Poropat of Lee & Associates represented the seller, Atlanta-based Oakmont Industrial Group, in the transaction.
Industrial
MIAMI — Brian Smith and Wayne Ramoski of Cushman & Wakefield’s Miami office represented Shoma Development in the $24 million sale of 67-acres to AMB Property. One million square feet of the space will be developed for the AMB I-75 Business Center, which is bordered by Interstate-75, 170th St. and 97th Ave. The site was recently re-zoned by Miami-Dade County for industrial development and is one of the last remaining major parcels of undeveloped property in Miami’s I-75 North Corridor.
EDWARDSVILLE, ILL. — Lee & Associates has brokered the sale of 540,000-square-foot industrial facility located at 2965 Lakeview Corporate Dr. in the St. Louis suburb of Edwardsville. The recently constructed building features 32-foot clear ceiling heights and an ESFR sprinkler system. Thomas Homco and David Zeigler of Lee’s St. Louis office represented the seller, Sacramento, Calif.-based Panattoni. Pro Venture Real Estate represented the buyer, Tennessee-based Ozburn-Hessey Logistics. The sales price was not disclosed.
KANSAS CITY, MO. — Chicago-based HSA Commercial Real Estate has acquired a 154,000-square-foot industrial facility located at 4101-4131 N. Kentucky Ave. in Kansas City. The building is leased to three tenants, including American Tire Distributors, Rent-A-Center and Ecolab. It features 28-foot clear ceiling heights, 50-foot by 44-foot column spacing and 24 loading docks. Mike Caprile and David Hinchman of CB Richard Ellis represented the seller, a private investment group. The acquisition price was undisclosed.
CEDAR RAPIDS, IOWA — Diamond V has announced plans to construction a $12 million yeast culture manufacturing facility, located at 3750 10th St. in Cedar Rapids. The 28,000-square-foot facility will be the company’s second yeast culture facility. The project is scheduled to begin in the summer, pending construction and environmental approvals. Completion is expected in 2009.
POWAY, CALIF. — Brian Cox Mechanical Inc. has purchased a 29,122-square-foot industrial building, which is located at 12155 Kirkham Rd. in Poway, for approximately $4.78 million. Formerly the headquarters/warehouse of San Diego-based Maredy Candy Company, the property features approximately 9,000 square feet of office space and 19,500 square feet of warehouse/production space, including a 7,500-square-foot cooler. Dan Brennan of CB Richard Ellis represented the seller, the Maire-Huddy Family Trust, in the transaction; Glenn Arnold of Grubb & Ellis represented the buyer.
COLUMBIA, S.C. — Jeremy Wilson and Ted Pitts of Grubb & Ellis Wilson Kibler represented Angora Columbia Enterprises, Inc. in the sale of six buildings totaling 222,100 square-feet. Located on I-26 at Greystone Boulevard, the property was subdivided and sold to Riverbank Zoo, Spectra True Colors and Rivermont Drive Properties for a total of $6 million.
WARREN, MICH. — L. Mason Capitani/TCN Worldwide (LMC) has brokered the sale of a 100,000-square-foot industrial facility, located at 5775 Ten Mile Rd. in Warren, in a sale/leaseback transaction. AIC Ventures acquired the property from Paragon Technologies, which entered into a long-term lease of the facility. Thomas Jablonski of LMC represented both parties in the transaction. The acquisition price was undisclosed.
SAN MARCOS, TEXAS — Hapes Properties, a subsidiary of California-based Kotel Investments, has finalized the purchase of an industrial building located at 1942 Interstate Highway 35 in San Marcos. The Interstate Business Park, which is a one story, 122,000-square-foot building, is built on 8.2 acres. Austin, Texas-based Southwest-Hawaii Partners was the seller. Lynn Taylor of Republic of Texas Real Estate represented the buyer, and Butch and Rhonda West of West Commercial represented the seller in the transaction.
BELLEVUE, WASH. — Michal Makar and Jack Standeford of CB Richard Ellis Capital Markets’ Seattle office have secured $185 million in construction/permanent debt loan financing for Bellevue Place LP. Bellevue Place plans to use the loan to refinance the existing Hyatt Regency Hotel and construct a new hotel tower. Built in 1989, the Hyatt Regency Bellevue consists of a 24-story tower offering 382 rooms; the new tower will add 351 rooms and 36,000 square feet of meeting space to the hotel, which is located in downtown Bellevue. Construction of the new tower is slated for completion in mid-2009. Pacific Life Insurance Co provided the financing.