SHANNON, GA. — Stan Johnson Co. has brokered the $16.7 million sale of a 568,516-square-foot industrial property at 212 Burlington Road in Shannon, about 11 miles from Interstate 75 and 70 miles from downtown Atlanta. Ball Corp. LLC has a five-year lease at the property and Big Time Products LLC has a 10-year lease. Britton Burdette of Stan Johnson Co.’s Atlanta office represented the seller, a privately held real estate investment firm, and the buyer, a REIT, in the transaction.
CHANTILLY, VA. — NAI KLNB, in conjunction with C-III Realty Services LLC, has arranged the $5.6 million sale of Wynwood I and II, a two-building office portfolio spanning 88,000 square feet. The office buildings are located at 5160 and 5180 Parkstone Drive in the Chantilly submarket of Fairfax County in northern Virginia. Kevin Goeller, Chris Kubler and Josh Simon of NAI KLNB represented the seller, US Bank NA, in the transaction. Larry Fitzgerald of Newmark Knight Grubb Frank represented the buyer, Chalmers Property Co., in the transaction.
LANHAM, MD. — Terreno Realty Corp., an industrial real estate owner and operator, has purchased an industrial property in Lanham, about six miles from Washington, D.C., for approximately $5.6 million. The property, located at 4230 Forbes Blvd., is a rear-load light industrial building spanning 56,000 square feet. The property features nine dock-high doors and is fully leased to six tenants.
COCONUT CREEK, FLA. — Bluewater Builders Inc. is building a new 105-room Hampton Inn & Suites Hotel at the northeast corner of the Sawgrass Expressway and U.S. 441 in Coconut Creek. Morlin Hospitality Management will open the new hotel at the beginning of the second quarter in 2014. Anderson Architecture designed the new hotel, which will feature Jacuzzis in some suites, a heated pool, outdoor spa, three meeting rooms totaling 1,000 square feet, an exercise facility, refrigerator/microwave in every room, WiFi access, Direct TV and guest laundry facilities.
ATLANTA — Cassidy Turley has arranged a 52,976-square-foot lease at Circle 75 Office Park in Atlanta’s Galleria/Cumberland submarket. The tenant, Centene Corp., a healthcare services provider, will relocate to the office space at 1100 Circle 75 Parkway. Centene will occupy floors five, six and 11 for an eight-year term. Kirk Diamond, April Hawkinson and Erin Smith of Cassidy Turley’s Atlanta office, along with Scott Bazoian of the firm’s St. Louis office, represented the tenant in the lease transaction. Matt Spickard and Greg Frankum of Transwestern represented the landlord, SK Commercial. Centene Corp. previously occupied 38,562 square feet of office space in nearby Smyrna, Ga.
DETROIT — The state of Michigan announced Friday that it would pay to demolish Joe Louis Arena after the Detroit Red Wings move into their planned new $450 million home in 2017 or 2018. Tearing down the stadium is part of an agreement approved last week between the city and the owner of the Red Wings — a complex $650 million deal still going through government approval, according to The Detroit News. The deal is contingent upon other approvals needed by April 1, 2014 from the Detroit City Council, the Red Wings owners and the Detroit Downtown Development Authority (DDA). The plan calls for a $450 million sports and entertainment center and $200 million in new residential, retail and office development in a 45-block area that reaches from Grand Circus Park to Charlotte Street between Woodward Avenue and Grand River Avenue. The DDA would own the arena and Olympia Development would operate and maintain it.
BEDFORD PARK, ILL. — The Missner Group has completed a 65,000-square-foot renovation for Famsa USA in Bedford Park, a southwest suburb of Chicago. Principal Real Estate Investors owns the property, located at 6733-6755 W. 65th St. Famsa sells furniture, electronics and appliances on credit to clientele throughout Mexico and the United States. Famsa recently leased space at the Bedford Park property for its warehouse operations. Construction at the multi-tenant property included 62,000 square feet of warehouse improvements and 3,000 square feet of office renovations. Drue Stoehr, vice president of construction at The Missner Group, was the project executive. Curt Burns, senior project manager, and Angelo Christopher, superintendent, led the construction efforts. The Interior Design Group Ltd. provided architectural services. Larry Much of NAI Hiffman represented both the tenant and the landlord in lease negotiations. CBRE is the asset manager of the property.
MINNETONKA, MINN. — Paster Enterprises has purchased the Highland Bank Building, a 20,149-square-foot office property in Minnetonka, a southwest suburb of Minneapolis. Located at 1730 Plymouth Road, the building is anchored by a 5,517-square-foot Highland Bank and a 3,608-square-foot Avada Audiology & Hearing Care. Additional tenants include A&H Intermediaries, American Family Insurance, Carlstrom Jewelry, Chef’s Classic Fine Foods, Choice Insurance Agency, Elite Medical Scribes, Hannon & Sandler DDS, Lisa Verna, Lynn KlickerUthe and Slack & Young.
FERGUSON, MO. — CSL Plasma has leased 15,000 square feet at Crossings at Halls Ferry in Ferguson, located about 12 miles from downtown St. Louis. Crossings at Halls Ferry is a retail center located at the northwest corner of Interstate 270 and Old Halls Ferry Road. Tenants at the property include The Home Depot, Shop N Save, Anna's Linens, Party City, DTLR and Ashley Stewart, according to LoopNet.com. St. Louis-based L3 Corp. represented the landlord, Crossings Shopping Center LP, in the transaction. CSL Plasma is one of the largest collectors of human plasma in the world.
ROBBINSVILLE, N.J. — Matrix Development Group has broken ground on a new build-to-suit warehouse and distribution center for Falken Tire Corp. in Robbinsville, located about 10 miles east of Trenton. The 222,000-square-foot facility, which is scheduled for a spring 2014 completion, will serve as a new location for Falken Tire, an international manufacturer of automobile tires. The development is located within Matrix Business Park at 7A, the Matrix Development Group’s 480-acre light industrial park.