CAMPBELL, CALIF. — Kennedy Wilson Fund VI, a commingled fund managed by Kennedy Wilson (NYSE: KW), has purchased 267,000 square feet of office and R&D space within Vasona Technology Park in Campbell. An undisclosed seller sold the assets for $147.2 million. The transaction includes 220 E. Hacienda Ave., occupied by Kaiser Permanente for medical offices; 240 East Hacienda Ave., occupied by ChargePoint Inc. as its corporate headquarters; and 1359 Dell Ave., occupied by Imperative Care as its corporate headquarters. Stephen Etheredge, Max Shapiro, Keith Pollock, Marc Young and Max Rawn of Allen Matkins represented Kennedy Wilson Fund VI in the acquisition.
NORTH LAS VEGAS, NEV. — Harsch Investment has completed Tropical Speedway Commerce Center in North Las Vegas. Located at 6150 Tropical Parkway, the property offers 150,000 square feet of light industrial space. The facility features dock and grade loading, 28- to 32-foot clear heights, 130-foot truck court and a parking ratio of 1.46:1,000. Current tenants at the building include Foundation Building Materials, Moroccan Oil, Kemco West and Amsoil. This fall, Harsch is set to break ground on the 155,000-square-foot Tropical Speedway Commerce Center 2. The third phase of the project, Tropical Speedway Commerce Center 3, will add two shell buildings totaling 732,160 square feet.
CAMARILLO, CALIF. — Westcore has purchased a warehouse building located at 201 Flynn Road in Camarillo. Southern California-based Decker-Goetsch Properties sold the asset for $20 million. The 117,342-square-foot facility is currently fully leased for more than eight years. Darla Long, Barbara Perrier and Eric Cox of CBRE National Partners represented the seller, while Westcore represented itself in the transaction.
ASHEVILLE, N.C. — SRS Real Estate Partners has negotiated the $20.3 million sale of a 388,540-square-foot industrial building located at 12 Gerber Road in Asheville. Jack Cornell and Max Finn of SRS represented the seller, a North Carolina-based private investor, and the buyer, a Florida-based private investor. Built in 1959, the property was originally the headquarters for Gerber Baby Food and was most recently renovated in 2014. The industrial building is fully occupied by several tenants including SRS Distribution, GF Linamar and U-Haul. The property is located adjacent to Norfolk & Southern Railroad and features an onsite rail spur.
SHERMAN, TEXAS — Dallas-based investment firm Preston Forrest Capital has acquired a 518,700-square-foot industrial property that is situated on a 70-acre site in the North Texas city of Sherman. The building is situated within the 3,300-acre Progress Park master-planned development, which houses tenants such as Tyson Foods, Sunny Delight and Texas Instruments. The property was fully leased at the time of sale and serves as a regional distribution hub for CertainTeed Corp., an international building products manufacturer. Stan McClure of CBRE represented the seller, The State of Texas Permanent School Fund and General Land Office, in the transaction.
COLUMBUS, OHIO — The Pizzuti Cos. is underway on the development of two speculative industrial buildings within Global Court Logistics Center, which is located in the Rickenbacker submarket of Columbus. Global Court I will span 158,700 square feet while Global Court II will total 196,400 square feet. Both buildings will feature a clear height of 32 feet and LED lighting. Completion is slated for this December. CBRE and Pizzuti will provide leasing services. Since 1998, Pizzuti has developed more than 12 million square feet of industrial space in the Rickenbacker submarket.
DETROIT — Colliers International has arranged the sale of two industrial buildings in Detroit for an undisclosed price. The first property at 13901 Joy Road spans 456,156 square feet. The second building at 8211 Decatur Road totals 113,332 square feet. Peter E. Kepic and Peter J. Kepic of Colliers represented the buyer, Schostak Brothers & Co. Inc., as well as the seller, Joy Road Holdings LLC. Schostak has retained the duo to market the buildings for lease. Schostak says the purchase fits its strategy of buying and renovating well-located industrial properties.
UPPER MOUNT BETHEL, PA. — Developer River Pointe Logistics and CBRE have revealed updated plans for River Pointe Commerce Park, a 725-acre industrial project located in the Lehigh Valley city of Upper Mount Bethel. The development, which is located 1.5 miles from Interstate 80, will now consist of 15 buildings totaling approximately 6 million square feet. The first, 420,000-square-foot building is expected to deliver in 2022 and will feature a clear height of 45 feet, 42 docks and two drive-in doors. Jake Terkanian and Sean Bleiler of CBRE are the leasing agents for the project.
DAYTON, N.J. — CenterPoint Properties, a Chicago-based investment firm, has acquired a 274,430-square-foot distribution center in Dayton, about 45 miles south of New York City. The building is situated on a 27-acre site that includes 10 acres for parking and outdoor storage. In addition, the property, which is leased long-term to a global distribution company, features a clear height of 34 feet and is configured to accommodate parking for 300 trailers and 400 cars. The seller was not disclosed. Marc Duval, Jordan Avanzato and Jose Cruz of JLL brokered the deal.
PFLUGERVILLE, TEXAS — Atlanta-based developer Seefried Industrial Partners has completed a 3.8 million-square-foot warehouse and distribution center in the northern Austin suburb of Pflugerville. The name of the major online retailer that will occupy the property was not disclosed, but Amazon, which has engaged Seefried in the past for build-to-suit projects, had previously announced plans to open a major fulfillment center in Pflugerville. Features of the five-story building include 63 loading docks, 372 trailer stalls and 1,846 car parking stalls. CESO Inc. designed the property, with The Conlan Group and Jones/Carter respectively serving as the general contractor and civil engineer. According to the development team, the property is also currently the largest distribution warehouse in Texas.