RENO, NEV. — 800 Stillwell Partners LLC has purchased a 119,300-square-foot industrial building, which is located at 800 Stillwell Rd. in Reno. Bender Warehouse Company sold the property, which was built in 1958, for $3 million. Paul Perkins, Dave Simonsen, J. Michael Hoeck and Dan Oster of NAI Alliance negotiated the transaction. The property is being managed by AMH Properties.
Industrial
FT. LAUDERDALE, FLA. – Berger Commercial Realty Corp. has negotiated the sale of an industrial facility located at 820-880 NW 5th Ave. in Ft. Lauderdale for $3.6 million. Lloyd Berger of Berger Commercial represented the sellers, M. Austin Forman, Trustee and Northwest 5th Avenue Inc. in the sale. Berger Commercial had previously leased and managed the property and was retained to provide the same services for the new owner, Northwest Fifth Avenue LLC. Pat Montalbano of Montalbano Commercial Realty represented the buyer.
INDIANAPOLIS — A partnership between The Paul Kite Company and KS Hendricks Partners is developing 70 West Commerce Park, a 1,000-acre build-to-suit industrial park located at the interchange of Interstate 70 and State Road 39 in Indianapolis. The new park will be able to accommodate industrial buildings from 20,000 to 2 million square feet, and can be designed for high-tech manufacturing, air cargo, transportation, distribution and light assembly uses. Opportunities will also exist on select sites for specialized uses such as retail, medical and general office, and life science.
GLENDALE, ARIZ. — BRON-AZ Business Properties LLC has selected McShane Construction Corp. to provide design/build services for Glen Harbor Commerce Park, a master-planned commerce park located at the intersection of North Glen Harbor Boulevard and Northern Avenue in Glendale. The first phase of the project consists of four buildings totaling 86,968 square feet. The buildings will range in size from 14,105 to 37,067 square feet, and will be available to multiple tenants for lease and sale. More than 7.5 acres within the 14.1-arce park will be developed as part of the first phase. Construction has commenced and completion is slated for July. Dickinson Architects is providing architectural services for the project.
ORLANDO, FLA. — HJ High Construction has been selected as design/build contractor for Mitsubishi Power Systems America Inc.’s’ new manufacturing facility in Orlando. The fully air-conditioned 111,500-square-foot facility will feature two five-ton bridge cranes; 20,000 square feet of office space; and a rooftop observation land overlooking an array of photovoltaic solar panels, which will be installed at a later date. The facility will be constructed on a 10-month fast-track schedule.
JACKSONVILLE, FLA. — Farmington Hills, Mich.-based Schafer Development has received approval to develop New Berlin Commerce Park, which will be located just northeast of the Port of Jacksonville. The park will offer 1 million square feet of industrial, distribution and commercial space. Located adjacent to the newly constructed Mitsui O.S.K. Terminal, the project within close proximity to interstates 95 and 295, which provides accessibility by land and sea.
ST. LOUIS — The St. Louis office of Clayco has completed construction for North Broadway Distribution Center, a 420,000-square-foot speculative warehouse facility located at 6500 Prescott in St. Louis. The $12.6 million facility is located on a 20-acre site, and is developed and owned by Balke Brown Associates, with Clayco and Forum Studio providing design-build services. Additionally, International Food Products Corp. has pre-leased 120,000 square feet of the building for its St. Louis warehousing operations.
HOUSTON — The Dow Chemical Company will be relocating its Houston Dow Center and Memorial Plaza operations to the Plaza at Enclave, a six-story, 344,053-square-foot building under construction in Houston’s Energy Corridor. The company will lease 280,000 square feet of the new building, located at 1254 Enclave Parkway, and will move in this September. CORE Real Estate is developing the property. Dow’s Jeff Cutler represented Dow, and Bonnie Kelley and Cody Armbrister of CBRE represented CORE Real Estate and the financial partner, BayNorth Capital, in the transaction.
CHICAGO — A partnership between Chicago-based Sterling Bay Cos. and The Deitcher Group has acquired the former Chicago Housing Authority headquarters, an eight-story, 107,977-square-foot building located at 626 W. Jackson Blvd. in Chicago’s West Loop. The new owner plans to complete major capital improvements to the property, which will begin in the second quarter. The property was acquired from the Chicago Housing Authority. Leasing of the property will be handled by The Deitcher Group. The acquisition price was not disclosed.
NEW YORK CITY — The Moinian Group plans to redevelop 1775 Broadway, a 26-story, 722,000-square-foot property in Manhattan, New York City. The $60 million redevelopment will consist of a refurbished façade as well as a new lobby and elevators. The approximately 500,000-square-foot property will also be renamed 3 Columbus Circle. Jimmy Kuhn, Michael Dreizen and Andrew Udis of Newmark Knight Frank will handle the marketing of the new space. The redevelopment is slated for completion first quarter 2009.