DELRAN, N.J. — LBA Logistics has acquired 400 Delran Parkway, a 174,000-square-foot, industrial building in Delran. The sales price was $10.7 million. Located inside the Swedes Run Business Park, the property is situated on more than 16 acres. The building, which is currently vacant, was previously home to a Fortune 500 company. John Plower, Larry Maister, Dean Torosian and Nate Demetsky of JLL Capital Markets represented the undisclosed seller in the transaction.
PENNSAUKEN TOWNSHIP, N.J. — Colliers International has negotiated the $3.1 million sale of two industrial properties inside the 2 million-square-foot Airport Industrial Park in Pennsauken Township. The two-buildings total 55,037 square feet and are located at 7203 and 7239 Browning Road. At the time of sale, the industrial park was fully leased. Ian Richman and Marc Isdaner of Colliers represented the seller, The Bloom Organization, in the transaction. The buyer was undisclosed.
ROMEOVILLE, ILL. — IDI Logistics has acquired 57 acres of industrial land in Romeoville with plans to deliver a 351,870-square-foot speculative facility. The building will feature a clear height of 36 feet, 40 docks and 65 trailer spaces. Joshua Hearne and Daniel Cawley of Cawley Chicago will represent IDI Logistics in lease-up of the building. The project, known as Romeoville Gateway, is slated for completion in 2019.
PORTLAND, ORE. — Dermody Properties has purchased an industrial manufacturing and warehouse building, located at 19730 N.E. Sandy Blvd. in Portland’s Northeast Columbia Corridor submarket, for an undisclosed price. The 296,361-square-foot facility features 22-foot to 30-foot interior clear heights, 21 dock-high doors, three grade-level doors, ample car parking and space for trailer loading and maneuvering. Additionally, the property has 12.1 acres of adjacent developable land. Dermody Properties’ Northwest Region office, led by Phillip Wood, will manage the asset, which will be available for a new tenant as of first-quarter 2019. Buzz Ellis, Paige Morgan, Craig Reinhart and Kevin Kriesien of JLL brought the opportunity to Dermody, and JLL will handle leasing for the property.
LITTLE ROCK, ARK. — Investment Grade Loans has sold a 554,416-square-foot industrial building in Little Rock. The property sits on 27.6 acres and sold to New York City-based Eliken Property Management for an undisclosed price. The single-story facility has 29-foot, 9-inch ceiling heights, 5-inch reinforced concrete floors, 40 dock doors and 5,616 square feet of office space. Holmes Davis of Binswanger’s Dallas office represented the seller in the transaction.
LONG ISLAND CITY, N.Y. — Metropolitan Realty Associates has sold a 246,000-square-foot industrial building in Long Island City for $72 million. Located at 48-49 35th St., the property was originally constructed in 1949. Tenants at the building include international shipping company AirSea Packing as well as Housing Works Thrift Shop. The buyer was North River Co. Metropolitan Realty Associates acquired the property with equity partner TH Real Estate in 2017 for $55 million.
EDDYSTONE, PA. — HFF has secured $23.5 million in acquisition financing for Eddystone Industrial Park, a four-building industrial park in the Philadelphia suburb of Eddystone. Located at 1001 Industrial Highway, the park totals 465,680 square feet and is spread across more than 43 acres. The property features clear heights ranging from 18 to 60 feet as well as 52 dock doors and 16 drive-in doors. Michael Pagniucci and Ryan Ade of HFF worked on behalf of the borrower, Foxfield Industrial, to secure financing through a regional commercial bank. Terms of the financing were not disclosed.
FORT WORTH, TEXAS — Crow Holdings Capital-Real Estate, in partnership with Rob Riner Cos., will develop a four-building, 1.1 million-square-foot industrial park in south Fort Worth. The project represents Phase II of a larger development and will deliver a 394,000-square-foot cross-dock facility, 294,000-square-foot cross-dock facility and two 187,000-square-foot front-load facilities. Construction of all four buildings is expected to begin during the first quarter of 2019. Holt Lunsford Commercial will market the properties for lease.
FORT WORTH, TEXAS — Panoramic Doors has signed a 127,545-square-foot industrial lease at 15050 Frye Road in Fort Worth. According to LoopNet Inc., the property was built in 1987 and features 30-foot clear heights and 13 dock-high doors. Seth Koschak and Forrest Cook of Stream Realty Partners represented the tenant in the lease negotiations. Steve Koldyke and Brian Gilcrest of CBRE represented the landlord, Stonelake Capital Partners.
MAPLE GROVE, MINN. — The Opus Group has broken ground on a 204,000-square-foot industrial building in Maple Grove. The project, known as Arbor Lakes Corporate Center, is a collaboration between Opus and Inland Development Partners. The 13-acre site will first undergo environmental remediation to fully remove existing landfill and environmental pollutants from the former disposal and waste transfer site. The building will feature a clear height of 28 feet, 32 docks and two drive-in doors. Construction is slated for completion in late 2019. Chris Hickok and Dan Larew of JLL will market the property for lease.