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Provident Bank Provides $35M Construction Loan for Warehouse in Monroe, New Jersey

MONROE, N.J. — Provident Bank has provided a $35 million construction loan for a new warehouse in Monroe, located approximately 40 miles south of New York City. Situated on 28 acres, the property will offer 382,400 square feet of rentable space, including 34,000 square feet of office space. The building is 100 percent preleased. Axiom Capital arranged the loan on behalf of the borrowers, KRE Group and TCH Docks Corner Lane

JLL Arranges $12.6M Refinancing Loan for Industrial Property in Tewksbury, Massachusetts

TEWKSBURY, MASS. — JLL has arranged a $12.6 million loan for the refinancing of 554 Clark Road, a 102,200-square-foot industrial building in Tewksbury, a northern suburb of Boston. UniBank provided the fixed-rate loan, exact terms of which were undisclosed. The single-story facility was recently leased to Mycronic, a Swedish electronics assembly, display and packaging manufacturer. Brett Paulsrud and Amy Lousararian of JLL arranged the financing on behalf of the borrower, Oliver Street …

Cushman & Wakefield Negotiates $6.7M Sale of Flex Buildings in Charlotte

CHARLOTTE, N.C. — Cushman & Wakefield has negotiated the $6.7 million sale of Hawkins @ Rampart, a 1.2-acre property comprising two flex buildings in Charlotte’s South End totaling 19,120 square feet. The adjacent buildings were constructed in 1987 at 2170 Hawkins St. and 210 Rampart St., two miles south of downtown Charlotte. The assets were fully leased at the time of sale to three tenants. Rob Cochran, Jared Londry and Nolan Ashton of Cushman & Wakefield represented the seller, …

Rexford Industrial Acquires Eight-Building Industrial Park in Southern California for $66.2M

TORRANCE, CALIF. — Rexford Industrial Realty has purchased an eight-building industrial portfolio in Torrance for $66.2 million, or $247 per square foot. The acquisition was funded using cash on hand. The name of the seller was not released. Comprised of four single-tenant buildings and four two-tenant buildings, the asset offers a total of 267,503 square feet of industrial space on 14.2 acres. At the time of sale, the complex was 91 percent leased. Rexford plans to complete capital …

Navistar to Open $250M Truck Manufacturing Plant in San Antonio, Create 600 Jobs

SAN ANTONIO — Navistar, an Illinois-based truck and bus manufacturer, will open a $250 million plant in San Antonio, a move that is expected to create about 600 new jobs. The site is located along Interstate 35 and links the company’s supply bases in Mexico and the United States. Construction is slated to begin later this year, and the facility is expected to be operational within 24 months of the groundbreaking. JLL handled the site selection process for Navistar, which also recently …

Case Study: Dallas vs. Houston Industrial

The Dallas-Fort Worth (DFW) and Houston metro areas have vastly different opportunities and challenges in terms of commercial real estate. Yet this year both have both landed in the top five in the nation for industrial development. Driven by strong population and job growth, DFW and Houston don’t expect their industrial expansions to slow down any time soon. At the end of the second quarter, DFW was No. 2 in the country in industrial development behind California’s Inland Empire, with …

SkyView Advisors Arranges Sale of 1,001-Unit Self-Storage Facility in Naples, Florida

NAPLES, FLA. — SkyView Advisors has arranged the sale of a 1,001-unit self-storage facility in Naples. The 99,713-square-foot property is located on 4.3 acres at 3807 White Lake Blvd. Cameron Vale and Ryan Clark of SkyView Advisors represented the undisclosed seller in the transaction. Public Self Storage acquired the facility for an undisclosed

Ready Capital Provides $13.4M Acquisition Loan for Industrial Building in Tampa

TAMPA, FLA. — Ready Capital has provided a $13.4 million acquisition loan to an undisclosed borrower for a 365,000-square-foot industrial building in Tampa. The borrower plans to renovate the property, including various interior repairs, HVAC replacement, roof repairs, fresh paint and parking lot maintenance. The non-recourse, floating-rate loan features a 36-month term, one extension plan and flexible prepayment options. Further details of the transaction were not

Marcus & Millichap Arranges Sale of 209-Unit Self-Storage Facility in Fort Worth

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of A Plus Boat Club, a 209-unit self-storage facility in Fort Worth. Built in 1990, the property spans 60,856 net rentable square feet and features non-climate-controlled units ranging in size from 200 to 352 square feet. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a locally based partnership, in the transaction. The duo also procured the buyer, Spartan Investment Group, a self-storage …

PCCP, Pizzuti to Develop 539,094 SF Spec Industrial Development in Columbus, Ohio

COLUMBUS, OHIO — PCCP has formed a joint venture with The Pizzuti Cos. to develop a two-building industrial complex in Columbus totaling 539,094 square feet. Known as Rickenbacker West II and III, the speculative project will be situated adjacent to CreekSide Industrial Center. Completion is slated for mid-2020. The 277,692-square-foot Rickenbacker II will be situated on 16.9 acres while the 261,402-square-foot Rickenbacker III will be situated on 22.9 acres. Both facilities will feature a …

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