Transwestern wins St. Paul Properties' industrial portfolio Houston-based Transwestern Property Co. has been awarded the property management and leasing responsibilities of St. Paul Properties Inc.'s 1.7 million sq. ft. industrial portfolio. The portfolio consists of 10 projects throughout Houston; the assignment increases Transwestern's Houston industrial portfolio to approximately 6 million sq. ft.
Work begins on first facility in IDI's Rock Run Business Park Representing the first development in its 380-acre Rock Run Business Park in Joliet, Ill., Industrial Developments International, Oakbrook Terrace, Ill., has broken ground on a 258,000 sq. ft. inventory facility, scheduled to be completed this fall. Suited for office and warehouse/distribution, the project will be divisible to 26,000 sq. ft. and expandable to 464,000 sq. ft.
Kajima Construction Services and Philip Prince & Associates will serve as general contractor and architect, respectively. Leasing will be provided by Cushman & Wakefield.
Bradford Realty breaks ground on 400,000 sq. ft. spec project Development has begun on a 400,000 sq. ft. distribution center, representing the first speculative warehouse east of the Dallas/Fort Worth Airport to offer triple freeport tax exemptions on inventory, by Dallas-based Bradford Realty Services Inc. The $12 million project, located in Waters Ridge Business Park, is being constructed so that it can be leased whole or in increments of 100,000 sq. ft.
Voit Commercial handles sale, purchase of $52 million portfolio Representing both the seller and the buyer, Anaheim, Calif.-based Voit Commercial Brokerage has completed a $52 million sale of a fully leased industrial portfolio to The Shidler Group. The portfolio includes 33 properties, totaling 1.8 million sq. ft., located in Irvine, Garden Grove, City of Industry and Commerce, Calif. The seller was a privately held real estate firm.
Pizzuti to develop two facilities, leases 500,000 sq. ft. in Midwest Keeping busy in the Midwest, Columbus, Ohio-based Pizzuti Development has leased 500,000 sq.ft. at its Carol Stream Distribution Center, Carol Stream, Ill., to Blyth Industries Inc. Blyth has leased a 357,697 sq. ft. building, and Pizzuti is to construct an additional 157,784 sq. ft. The addition is to be ready for occupancy in spring 1998.
Pizzuti has also begun work on two facilities in Bloomingdale, Ill., for NOW Natural Foods and Bi-Link Metal Specialties. The NOW facility will consist of 175,000 sq. ft., and the Bi-Link facility will contain 89,900 sq. ft.
Koll represents Xerox in sale to CenterPoint Properties Newport Beach, Calif.-based Koll has sold the former Xerox regional facility in Oak Brook, Ill., to Chicago-based CenterPoint Properties. The office-tech property contains 162,000 sq. ft., of which CenterPoint will use 50,000 sq. ft. for its new corporate headquarters. CenterPoint plans to completely renovate the building.
LaSalle, Galbreath merger results in corporate industrial service Combining the industrial real estate resources of both LaSalle Partners and The Galbreath Co. in the recent merger has resulted in a formal comprehensive service called LaSalle Partners Corporate Industrial Services, which will be based in Cleveland. The full-service industrial real estate group will work on a national level and will be structured under the LaSalle Partners Leasing & Management unit.
Harry Henshaw, former senior vice president at Galbreath, will now serve as president of the group.
Recently, the group directed the site selection, acquisition and incentive negotiations for the $450 million Trico Steel project in Decatur, Ala., and it is also developing the first phase of a new headquarters and technology campus for General Motors' Delphi Packard Division near Warren, Ohio.
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