Weingarten acquires Houston industrial property Houston-based Weingarten Realty Investors (WRI) has acquired Claywood Industrial Park in Houston from Sandvik Rock Tools Inc., also of Houston. The sale price was not disclosed.
Located in northwest Houston, the 329,600 sq. ft. development was 100% leased at closing. WRI plans to develop an additional 400,000 sq. ft. of industrial space at the 40-acre site. In the first half of 1999, WRI's acquisitions totaled $64.3 million and included 1.3 million sq. ft. of industrial and retail properties.
HSA/READ says, 'Meet me east of St. Louis' Chicago-based HSA/READ, the acquisition arm of Hiffman Shaffer Associates Inc., has purchased an 812,000 sq. ft. distribution facility in Edwardsville, Ill., from Chicago-based Centerpoint Properties. The building is expandable to 1 million sq. ft.
Built in 1998, the facility is leased to Scottsdale, Ariz.-based Dial Corp. It is also the first building to be completed in the Gateway Commerce Center, a 2,700-acre, rail-served industrial park that is temporarily a tax-free enterprise zone.
HSA/READ completed a 1031 exchange for the property, selling a 130,000 sq. ft. shopping center on 15 acres in Glendale, Ill.
Wal-Mart takes warehouse space in Southern California Bentonville, Ark.-based Wal-Mart Stores Inc. has leased 755,000 sq. ft. of industrial/distribution space in the Mira Loma Distribution Center in Mira Loma, Calif. Newport Beach, Calif.-based Collins Commercial Corp. negotiated the 10-year, $24 million lease on behalf of Irvine, Calif.-based Pacific Newport Properties.
Wal-Mart occupied the Mira Loma building last month and will use it to further its West Coast expansion plans.
CB&K brokers deal for former bottling facility Rosemont, Ill.-based Colliers, Bennett & Kahnweiler (CB&K) has arranged the sale of a 425,000 sq. ft. building in Gary, Ind., to BK Equities, the equity arm of CB&K. A group of private, Chicago-area investors sold the property.
The former American Bottling facility is 100% vacant and available for sale or lease, with an asking sale price of $7 million. Built in three phases between 1969 and 1995, the building is zoned for heavy manufacturing and rail served by the EJ&E railroad.
Binswanger arranges Atlanta sale to AMB Properties Philadelphia-based Binswanger has arranged the sale of a 415,676 sq. ft. warehouse in Atlanta on behalf of Syracuse, N.Y.-based Nutting/Rice Partnership. San Francisco-based AMB Properties purchased the development for approximately $8 million.
AMB acquired the development as an investment property. Located near Atlanta's Hartsfield International Airport, the building is 100% leased. o