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CORFAC International Announces Major Fourth Quarter Commercial Real Estate Transactions

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FALLS CHURCH, Va., Dec. 4, 2013 (GLOBE NEWSWIRE) -- CORFAC International 2013 President Bill Hawkins, SIOR, announced five of the commercial real estate network's top transactions that closed during the fourth quarter this year.

St. Louis, MO: Vince Bajardi, CCIM, and Jake Corrigan of St. Louis-based Sansone Group/CORFAC International completed the investment sale of 13333 Lakefront, an 189,555-square-foot flagship industrial building in Earth City, MO. They represented TA Associates Realty in the disposition of this Class A asset to private investor Big Sky Properties. The building was 78 percent leased at the time of sale and sold at a 6.15 percent Cap Rate on existing income.

Richmond, VA: Cliff Porter, SIOR, CCIM of Richmond-based Porter Realty Company/CORFAC International represented Foribus LLC in the $2,476,750 acquisition of an 181,000-square-foot industrial building located at 5640 Lewis Road in Henrico County. The seller was Rock-Tenn CP LLC.

Minneapolis, MN: Lou Suski and John Chirhart of Minneapolis-based Gaughan Companies/CORFAC International represented Westmor Fluid Solutions LLC in the purchase of 12.1 acres of land on West Freeway Drive in Columbus, MN. Westmor bought the land for a new 40,000-square-foot build-to-suit, industrial/flex facility from landlord MFC Investments LLC. The deal includes two-acres for outside storage and expansion capacity up to 80,000 square feet in the next five years. Westmor currently occupies approximately 42,240 square feet in Fridley, MN and plans to relocate when its new facility is ready next year.

Irvine, CA: Kevin Turner, Michael Hartel and Angela Watford of Voit Real Estate Services/CORFAC International's Irvine office successfully directed the sale of seven professional and medical office condominium buildings at Corona Corporate Centre totaling $18.6 million and 127,827 square-feet on behalf of the seller, Optimus Building Corporation. Twenty separate buyers, which included medical, dental and cosmetic specialists and professional office users, purchased the cold-shell units. The property is located at 2045-2097 Compton Avenue in Corona.

Phoenix, AZ: Josh Gosnell and Trent Rustan of Tempe-based Commercial Properties/CORFAC International represented Scale Racing Sports LLC in a 94,500-square-foot lease in the former Big K-Mart at the Greenway Shopping Center in northwest Phoenix. In January next year Scale Racing Sports plans to open a HobbyTown USA flagship store at 3401 W. Greenway Road. The entertainment business features indoor electric kart racing and remote control track racing plus a retail store within the facility. With over 150 franchised stores throughout the United States, HobbyTown USA is known as the world's largest retail hobby chain. Gosnell and Rustan represent the company in Arizona, Nevada, Colorado and Texas as HobbyTown looks to expand regionally.

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. To learn more call 703.532.6160 or visit www.corfac.com.

CONTACT: Media Contact: Gary Marsh gary@marshmarketing.com

Source:CORFAC International