CLARK, N.J. — NKF has arranged the $15.8 million sale of a 108,000-square-foot flex facility in Clark. Located at 175-195 Terminal Ave., the property is fully leased as the headquarters of L’Oréal’s North American R&D division. The seven-acre property includes a single-story R&D space that was recently renovated. Steven M. Schultz and Tony D. Georgiev of NKF represented the seller, Denholtz Associates, in the transaction. The buyer was undisclosed.
LEE’S SUMMIT, MO. — Mid-States Distributing LLC has purchased the former Toys ‘R’ Us Kansas City distribution facility located in Lee’s Summit. Mid-States, which is a U.S. and Canadian farm and ranch retail store cooperative, plans to commence operations at the site by the end of the year. The company also plans to hire between 30 and 35 additional employees. Mid-States plans to invest more than $35 million for the 725,769-square-foot facility, which will serve as a centralized distribution point. Toys ‘R’ Us ceased operations earlier this year.
CLEVELAND — Arcapita and Weston have acquired a seven-property industrial portfolio spanning 655,000 square feet in Cleveland. The purchase price was not disclosed. Logistics, technology and assembly space tenants occupy the properties. Weston will serve as the leasing and managing agent.
SAN DIEGO — Santa Monica, Calif.-based BLT Enterprises has completed the sale of an R&D and flex building, located at 5454 Ruffin Road in San Diego’s Kearny Mesa district. San Diego Unified School District acquired the asset for $18 million, or $330 per square foot. BLT acquired the property in 2017. During its ownership, the company converted the 77,000-square-foot, two-story office building back to its original 54,000-square-foot size by removing the dated addition of a second-story office space that was constructed in the late 1980s. Additionally, BLT modernized the property and added an outdoor amenity space, new lobby, exposed high ceilings, skylights, dual-pane, energy-efficient glazing and LED lighting. Ron Jacobson of SD Realty Partners, in conjunction with Brad Black and Chris Pascale of CBRE, represented the seller, while Tom Mercer of Colliers International represented the buyer in the deal.
DAVENPORT, FLA. — McCraney Property Co. has signed Atlanta-based UPS to a full-building lease at 27 Logistics Park, a 207,676-square-foot, Class A industrial warehouse in Davenport, about 35 miles south of Orlando. The property is adjacent to McCraney’s Park 27, a 602,971-square-foot, Class A development. CBRE Orlando’s David Murphy and Monica Wonus represented McCraney Property, which has offices in West Palm Beach, Fla., and Charlotte.
PITTSTON, PA. — Square Mile Capital Management has provided a $54.4 million construction loan for Interstate Distribution Center, a 1.1 million-square-foot distribution facility in Pittston. The project is located at the convergence of Interstates 81 and 476. Amazon, Lowes, Walmart, and FedEx all occupy distribution facilities nearby. Square Mile Capital provided the loan to a joint venture between affiliates of Endurance Real Estate Group and Blue Vista Capital.
WARMINSTER, PA. — Binswanger has brokered the $1.7 million sale of a six-acre development site in Warminster. Located at 273 West County Line Road, the property is zoned as an industrial office district. Patagon Storage LLC acquired the property with plans to develop a self-storage facility. Chris Pennington and Jason Ostach of Binswanger represented the undisclosed seller in the transaction.
RIALTO, CALIF. — Panattoni Development Co., in partnership with PGIM Real Estate, has started construction of Building 1. The 1.2 million-square-foot industrial building is located within the Rialto Fulfillment Center at 3520 S. Cactus Ave. in Rialto. Situated on 122 acres, Rialto Fulfillment Center is a planned two-building, 2.25 million-square-foot fulfillment and distribution center. Building 1 will be a freestanding cross-docked facility with internal truck drive around capacity. The facility will feature 40-foot minimum warehouse clearance height, an ESFR sprinkler system, eight-foot minimum flat Ductilcrete warehouse slab, 56-foot by 60-foot typical bay spacing with 70-foot speed bays, and 4,000 amp building service with base infrastructure for 12,000 amps. Additionally, the building will feature 196 dock-high doors, four grade-level loading doors, two fully secured truck courts, 544 off-dock trailer stalls and 685 auto parking stalls. Completion of Building 1 is slated for fourth-quarter 2019. Peter McWilliams, Mike McCrary and Ruben Goodsell of JLL are handling the leasing efforts for the Rialto Fulfillment Center.
HAZELWOOD, MO. — Marcus & Millichap has brokered the $14.8 million sale of a 261,380-square-foot industrial building in Hazelwood, a northwest suburb of St. Louis. Located at 8840-8850 Pershall Road, the property was originally built as a Pillsbury baking facility before being converted to a food production facility housing two different tenants. Claire Roberts of Marcus & Millichap secured the buyer, St. Paul Properties. Bradley Barham assisted in closing the transaction. The seller was not disclosed.
CHESTERFIELD TOWNSHIP, MICH. — ABC Supply Co. has signed a 50,000-square-foot industrial lease in Chesterfield Township, about 35 miles north of Detroit. The property is located at 50405 Patricia St. The construction supply company specializes in roofing, windows, gutters and siding for both residential and commercial buildings. The company is relocating from a smaller facility in Macomb Township. Jason Capitani and Joe DePonio of L. Mason Capitani CORFAC International represented the undisclosed landlord.