CORFAC News

CONTACT: 
Matt Paul
847.444.5748

Michael Millar
312.644.7211

RIVERWOODS, IL.  (June 18, 2012)— Randy D. Podolsky, SIOR, Managing Principal of Podolsky Northstar CORFAC International, recently provided an array of brokerage consulting services for the private investment group ownership of two industrial facilities in two different states.

Podolsky provided owner construction administration services in the 5,376 sq. ft. expansion of a single tenant crane manufacturing building in Franklin, OH.  Morris Material Handling, a division of Konecranes, has occupied the 74,225 sq. ft. single-tenant crane building at 213 Industrial Drive since 2002.  The newly constructed space is comprised of two buildings – a 3,376 sq. ft. paint booth building and a 2,000 sq. ft. blast building – that interconnect via a crane rail with the original space, bringing the total amount of leased space to 79,601 sq. ft.

Konecranes is an industry-leading group of lifting businesses that offers a complete range of advanced lifting solutions to myriad industries worldwide.  Morris Material Handling uses this space to manufacture and assemble its world-renowned crane and hoist equipment.

Podolsky also recently completed a long-term lease extension and loan renewal for the private investment group ownership at this building.

Jay Gitles of Seyfarth Shaw LLP provided legal representation to the owner.  JP Morgan Chase provided financing.
In addition, Podolsky has completed a lease transaction for the same ownership in a 36,500 sq. ft. industrial building located at 25 West Park Circle, Birmingham, AL.  The tenant, Tassco Steel, had been a sub-tenant prior to signing the new three-year lease.  Tassco Steel is a national distributor of steel plate and burned parts for various applications.

Michael Hughes of Corporate Realty Associates in Birmingham, AL was the cooperating broker in this transaction.
Providing Podolsky Northstar CORFAC International with market information and brokerage support for the transactions were Tom Devitt at Devitt & Associates in Cincinnati, OH and H. Michael Graham of Graham & Co. in Birmingham, AL.

“We are pleased to have been able to draw upon our four decades-plus of experience as a full service commercial real estate firm as well as our national network of affiliates to help provide solutions for this long-standing client group,” Podolsky stated.

About Podolsky Northstar CORFAC International
The firm provides brokerage, tenant representation, acquisition, disposition, sale/leaseback, investment, build-to-suit development, property and facility management, and consulting services for industrial, office and investment properties. Its management portfolio includes more than three million square feet property, primarily in the Midwest. www.podolsky.com