CORFAC International Announces Multiple Industrial Property Lease and Sale Transactions
Falls Church, VA (August 27, 2014) – CORFAC International 2014 President Robert Tillsley, SIOR, announced the completion of multiple lease and sale transactions involving industrial properties that CORFAC (www.corfac.com) affiliates completed in July.
Minneapolis, MN: In a deal that was referred by Brian Bruininks, CCIM, with The Andover Co./CORFAC International in Seattle, Lou Suski and John Chirhart with Gaughan Companies/CORFAC International represented Metropolitan Hardwood Floors (U.S.) in a 16,063-square-foot distribution facility lease in the Twin Cities suburb of Eagan.
It was the 15th deal that Bruininks has done with Metropolitan Hardwood Floors, totaling approximately 340,000 square feet.
The hardwood flooring distributor is growing quickly in Minnesota and needed to establish a physical presence near Minneapolis and St. Paul, according to Bruininks. He has represented the British Columbia, Canada-based company for over a decade and has completed and referred transactions on behalf of Metropolitan Hardwood in five different markets. Eight deals have been done in the Seattle area where the flooring distributor’s U.S. operations are based, while other transactions have been completed in Omaha, NE, Denver, CO and a recent lease in Austin, TX.
In Eagan, Metropolitan Hardwood leased space in Flagship Business Campus II at 915 Blue Gentian Road, Suite 600. Suski said that the 24’ clear-height distribution facility features freeway visibility and offers 1,850 square feet of office area with the remainder warehouse. Metropolitan Hardwood Floors is the exclusive distributor of Kentwood and Evoke flooring lines and also handles many other manufacturers.
Kansas City, MO: Jack Allen, SIOR, of Karbank Real Estate Company/CORFAC International, represented landlord Karbank Enterprises in two large warehouse leases in Kansas City. Ozburn-Hessey Logistics leased 100,500 square feet at 4900 Deramus Avenue while Forward Air Inc. leased 76,019 square feet at 3700 N. Kimball Drive.
St. Louis, MO: Vince Bajardi, CCIM and Jake Corrigan with Sansone Group/CORFAC International represented both sides in a sale of an industrial building. Glideway, a bed frames and sleep-products company, purchased a 61,808-square-foot industrial building from Peter Pan LLC. The building is located at 8212 Lackland Road in the St. Louis suburb of St. John, MO.
At the time of acquisition, the building was half-occupied by packaging supplier TricorBraun. Glideway is occupying the former empty space in the building while TricorBraun will remain a tenant with the new ownership. Terms of the sale were not disclosed.
San Diego, CA: Brian Mulvaney, CCIM, SIOR and Josh West with Voit Real Estate Services/CORFAC International in San Diego, successfully directed the sale of a 56,386 square-foot industrial building in Poway. Atomic Investment, Inc. sold the building for $6.15 million to a local investment firm. The property is located at 12250 Kirkham Road in Poway.
About CORFAC International
CORFAC International (Corporate Facility Advisors) is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services. Founded in 1989, CORFAC International is celebrating its 25th anniversary in 2014. In association with FIABCI (the International Real Estate Federation) and global affiliates, CORFAC International offers commercial real estate services with market reach in 60 countries worldwide. In recent years, CORFAC firms have averaged over 10,000 completed transactions annually totaling more than 397 million square feet worth of space and in excess of $7.1 billion. For more information on the CORFAC network, contact 703.532.6160 or visit www.corfac.com.