IDI leases space to GTE for Southeastern distribution center In Atlanta, Industrial Developments International (IDI) East has leased a 400,000 sq. ft. warehouse, office and distribution center to GTE Supply, representing Gwinnett County's largest lease this year. GTE will use the newly constructed facility, located in IDI's Shawnee Ridge development in Gwinnett, to distribute cable and network products.
Cushman & Wakefield represented GTE in the transaction.
The Shidler Group acquires 33-property Los Angeles portfolio The San Diego office of Honolulu-based The Shidler Group has acquired a 1.8 million sq. ft. industrial portfolio for more than $50 million from a privately held Los Angeles real estate company. Of the 33 warehouse/manufacturing buildings that make up the portfolio, 80% of the buildings are located in Los Angeles, Orange and Alameda counties in California, with the other 20% in Phoenix.
MEPC American buys 52-acre site, begins work on new facility With plans to construct up to 1 million sq. ft. of industrial distribution space, MEPC American Properties has purchased 52 acres of land in Coppell, Texas, from a partnership comprised of Emerson Partners and Trademark Investments LC.
MEPC has also broken ground on The Freeport North Commerce Center, a 300,000 sq. ft. distribution facility near the 52-acre site, in which Mannatech has already leased 75,000 sq. ft.
Opus develops distribution facility in Ohio Foreign Trade Zone In the Foreign Trade Zone of Rickenbacker Airport in Groveport, Ohio, Opus North Corp., Columbus, Ohio, broke ground on a 433,901 sq. ft. facility, the first of two planned distribution buildings. The facility, located in the Opus Business Center, is the largest spec building of its kind ever built in central Ohio. Completion is scheduled for late November.
Insignia/FC&S named leasing agent of Gurnee, Ill., complex Finch & Barry Properties has selected Insignia/Frain, Camins & Swartchild as leasing agent for the Tri-State Distribution Center. The facility, comprised of two buildings totaling 345,000 sq. ft., is a warehouse/distribution complex located in Gurnee, Ill., and is undergoing an exterior renovation.
J.F. McKinney breaks ground on first Pennsylvania project Chicago-based J.F. McKinney & Associates and Northwestern Mutual Life Insurance Co. broke ground on Thorn Hill Distribution Center, a 430,000 sq. ft. facility in Cranberry Township, Pa., representing J.F. McKinney's first development in Pittsburgh. Thorn Hill Distribution Center is located in Thorn Hill Industrial Park.
J.F. McKinney formed a joint venture with Pittsburgh-based Oxford Realty Services to handle leasing of the project.
Duke invests a total of $67.2 million in new product Indianapolis-based Duke Realty Investments has commenced five new developments -- two in St. Louis, Mo.; one in Columbus, Ohio; one in Indianapolis;and one in Cincinnati, Ohio -- and made one Indianapolis and one Columbus acquisition. Together the projects total more than 1.6 million sq. ft., representing a $67.2 million investment.
CSXT retains The Carlton Group to sell surplus assets CSX Transportation (CSXT) has retained New York-based The Carlton Group to sell approximately 103 industrial and commercial land sites that it owns. The properties will be offered in a sealed-bid format, with bids due at The Carlton Group's offices on Oct. 14 of this year.
The properties are located in Florida, Maryland, Ohio, South Carolina and Virginia, and they range in value from $60,000 to $5 million.
A brochure of properties summarizing the assets that are available can be obtained by contacting the Auction Information Center at 1-800-418-2100.
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