CORFAC International Announces Top Commercial Property Sales

CHICAGO, Feb. 25, 2015 (GLOBE NEWSWIRE) -- CORFAC International 2015 President Scott Savacool, CCIM, SIOR and a Senior Associate with The Sansone Group/CORFAC International in St. Louis, MO, announced some of CORFAC's top commercial property investment sales by its U.S. affiliates (www.corfac.com).

Paramus, NJ: McBride Corporate Real Estate/CORFAC International's Robert Tillsley, SIOR, John D'Amato and David Yao represented SITEX GROUP in the $38 million acquisition of a 56-acre, 510,000-square-foot campus located at 1 Sharp Plaza in Mahwah, NJ that is comprised of one office building and one industrial building. The seller, Sharp Electronics, had occupied the entire property at one time and has leased back approximately 182,000 square feet of facilities.

Boston, MA: James Stubblebine with The Stubblebine Company/CORFAC International has represented IPG Photonics in the acquisition and net expansion of three buildings totaling 269,000 square feet for a total purchase price of $32,343,750 in Marlborough, MA. Stubblebine represented IPG in the $25,550,000 purchase of 156,630 square feet at 377 Simarano Drive in Marlborough and concurrently the $6,793,750 purchase of a two-building campus located at 257 and 259 Cedar Hill Street in the same city.

Los Angeles, CA: Todd Taugner, SIOR, David Prior, SIOR, and Frank Schulz, SIOR, with The Klabin Co/CORFAC International represented The Rockefeller Group in the sale of a rare 23-acre parcel of land in Torrance to COSTCO, one of the world's most recognized big-box retailers, for an undisclosed price. COSTCO plans to break ground in the first quarter this year on a 164,000-square-foot store with plans to complete construction of the building later this year.

Farmers Branch, TX: Leigh C. Richter of Bradford Commercial Real Estate Services/CORFAC International in Dallas, TX, represented Maxim Integrated Products Inc. in the disposition of a 13-building portfolio on its original 45-acre campus in North Dallas. Richter sold the final two buildings, located at 14401 and 14403 W. Beltwood Parkway in Farmers Branch. The buildings are 26,530 square feet and 22,520 square feet, respectively. The total portfolio equaled 252,359 square feet. The disposition began in August 2012. The single-and two-story brick buildings were developed in the 1970s and 1980s for Dallas Semiconductor Corp., which Maxim acquired in 2001.

Sacramento, CA: TRI Commercial/CORFAC International's Bob King, CCIM, represented The Ichord Family in the purchase of a 17,272-square-foot Rite Aid Pharmacy located at the hard corner of Twin Cities Road and Carillon Blvd. in Galt, California, for $7.17 million. A double-net leased sale, the Galt Rite Aid sold at a 6% cap rate and Rite Aid is obligated to lease the building for 14+ years plus extension options with rental rate increases during the term.

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.

CONTACT: Media Contact: Gary Marsh 415.453.7045

Source:CORFAC International