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CORFAC International Announces Second Quarter Completed Major Transactions

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FALLS CHURCH, Va., June 4, 2013 (GLOBE NEWSWIRE) -- 2013 CORFAC International President Bill Hawkins is pleased to announce some of CORFAC International's major completed transactions from the second quarter of 2013.

"These are some of the largest deals completed by affiliate firms this quarter and they are good examples of the deals CORFAC completes around the world. Our goal is to surpass the 10,849 transactions worth in excess of $6.9 billion we completed in 2012," said Hawkins.

CORFAC International firms serve office, industrial, R&D, manufacturing, retail, multifamily, land and mixed-use property markets in the North America and around the world.

Cleveland, OH: James E. Klements, SIOR, CPA and Denise W. Hahn of Weber Wood Medinger/CORFAC International completed a 46,676-square-foot office lease on behalf of the Revenue Group.Revenue Group nearly tripled their space at 4780 Hinckley Industrial Parkway, Cleveland, Ohio. They signed a 15-year lease of the first and second office floors of the 140,000-square-foot office building.

Sacramento, CA: John Gallagher, CCIM, CPM of TRI Commercial/CORFAC International represented both the seller and the buyer in the sale of Austin Creek Apartments at 55 Valle Vista Avenue, Vallejo, California. Austin Creek Apartments L.P. sold the 156 unit building for $15.35 million at a capitalization rate of 6.5% to DE Village Austin Creek, LLC.

Ft. Wayne, IN: Zacher Co./CORFAC International represented Costco Wholesale Corp. in the purchase of 15.3 acres on the northwest corner of Lima and Progress roads. Steven Zacher, SIOR, CCIM and Fletcher Moppert of Zacher Co./CORFAC International represented Costco in the purchase from seller Menard Inc.

Torrance, CA: Courtney Bell and Matt Stringfellow of The Klabin Company/CORFAC International represented property owner L&B Realty Advisors, LLP in a lease renewal and extension. MK Diamond Products, Inc., a worldwide leader in the manufacturing of precision diamond blades, signed an 82-month lease extension for 51,286 square feet and valued at $2.8 million. The property is located in a two-building industrial complex at 1315 Storm Parkway and 22815 Frampton Ave in Torrance, CA.

Phoenix, AZ: Commercial Properties Inc./CORFAC International represented Westwind Holdings, LLC in the $7.1 million sale of a 53,823-square-foot office building to Tierra Properties, LLC. The building is located at 6402 E. Superstition Springs Blvd. in Mesa, AZ. Ken Elmer represented the seller and has been retained by the new owner to market available space in the building and manage leasing.

Cincinnati, OH: Joe Kramer of Henkle Schueler/CORFAC International represented Bunnell Hill Development in the sale of 10.6 acres to Western States. The property sold for $5.5 million and is located on Commerce Center Drive in Fairfield Commerce Center, Fairfield, OH. The seller's associated company, Bunnell Hill Construction, is building a 76,000-square-foot industrial building for the new owner.

Little Rock, AR: Johnny Mitchum, MBA of Rector Phillips Morse/CORFAC International was the sole broker involved in the sale of East Side Lofts (apartments) located at 1401 Scott Street, Little Rock, Arkansas. Bank of America, which acquired the 41-unit apartment building in a foreclosure action, sold the property to Mark Brown and Jill Judy

Dallas, TX: Joe Santaularia and Brock Wilson of Bradford Commercial Real Estate Services/CORFAC International represented Michigan-based Duro-Last Inc. in an 89,430-square-foot distribution center lease in Denton County to serve the Central U.S. Duro-Last, a major commercial roofing manufacturer, selected the North Texas site over competing industrial markets statewide. The company's new facility is a Duke Realty Corp. property located at 2940 Eisenhower Street in Carrollton.

Seattle, WA: Brian Bruininks, CCIM and Jeff Crane of The Andover Co./CORFAC International represented building owners Clarion Partners/LIT Industrial LP in a long-term lease of 93,974 square feet of industrial/distribution space to truck design and manufacturing company Paccar Inc. at 650 Milwaukee Avenue North in Algona, WA.

About CORFAC International

CORFAC International (Corporate Facility Advisors) is comprised of privately held entrepreneurial firms. In association with FIABCI (the International Real Estate Federation) and global affiliates, CORFAC International offers commercial real estate services with market reach in 65 countries worldwide. For more information on the CORFAC network, contact 703.532.6160 or visit www.corfac.com.

CONTACT: Media contact Gary Marsh: (415) 453-7045 or gary@marshmarketing.com

Source:CORFAC International