READING, PA. — HFF has arranged a $1.4 million refinancing for a 70,000-square-foot, single-tenant industrial facility in Reading. Michael Pagniucci and Ryan Ade of HFF represented the borrower, J&R Investments, to secure a seven-year, fixed-rate loan through a local money center bank. The 5.8-acre property is occupied by transportation logistics company S&H Express and is located at 2600 Beltline Ave.
ONTARIO, CALIF. — Voit Real Estate Services has arranged the lease of an industrial warehouse located within Shea Center Ontario, a five-building business park located at 5400 Shea Center Drive in Ontario. The lease is valued at $33 million. Canada-based Dorel Home Furnishings, a global manufacturer and distributor of products in the juvenile, sports and home furnishings sectors, will occupy the 750,000-square-foot space and utilize it as a distribution center for the company’s home furnishings division. Aliso Viejo, Calif.-based Shea Properties owns the business park, which is fully occupied. Other tenants include Emser Tile, Trek Bicycle, Restoration Hardware and Neovia Logistics. Frank Geraci, Juan Gutierrez and Adam Geiger of Voit’s Inland Empire office represented the landlord, while Chuck Belden and Kyle Kehner of Cushman & Wakefield represented the tenant in the transaction.
GOLETA, CALIF. — Majestic Asset Management has acquired a flex industrial/office park, located at 839-879 Ward Drive in Goleta, for $16.5 million. The buyer plans to improve and reposition the 124,754-square-foot asset to improve the warehouse, R&D and office space. Consisting of three buildings situated on 5.6 acres, the property was vacated in 2016 by Channel Industries, which had occupied the site since its original construction in the 1960s. Recent leases by Gavial Holdings, Sonatech and Reaction35 have backfilled a portion of the property, with approximately half of the rentable space remaining vacant. Francois DeJohn, Steve Hayes and Liam Murphy of Hayes Commercial represented the undisclosed seller and buyer in the deal.
HIALEAH, FLA. — Construction is complete on the new KLX Aerospace Solutions global headquarters and distribution hub located in Hialeah, a city in Miami-Dade County. Ware Malcomb provided master planning and architectural design services for the 700,000-square-foot project, which is part of the first phase of the planed 95-acre Countyline Corporate Park, a logistics park developed by Flagler Global Logistics. KLX Aerospace Solutions is a distributor of aerospace hardware and provider of supply chain management solutions for Original Equipment Manufacturers (OEMs), Maintenance and Repair Operations (MROs) and airlines across the globe. The new facility features concrete tilt-up construction, metal canopy parking structure, electric car charging stations, a café, recreational area and outdoor seating. Turner Construction was the general contractor for the project.
AUSTIN, TEXAS — The Jenkins Organization (TJO) has acquired land in north Austin for the development of Northgate Storage, an 816-unit self-storage facility. The property will span 127,000 gross square feet and will offer climate- and non-climate-controlled units, as well as gated entry and electronic security monitoring. The opening is currently slated for May 2019.
FORT WORTH, TEXAS — Ridge, the industrial development arm of Transwestern Development Co., has sold a 362,000-square-foot speculative warehouse in Fort Worth. The property is located within Railhead Industrial Park, a 633-acre, rail-served development. The building, which was completed in June, features 32-foot clear heights, 60 trailer parking spaces and 160 car parking spaces. An undisclosed institutional investor purchased the property after acquiring the adjacent, 299,810-square-foot property last year.
MISSION, TEXAS — JLL has negotiated the sale of a 270,084-square-foot industrial property located at 802 Trinity St. in Mission, a city in the Rio Grande Valley. Boston-based STAG Industrial acquired the warehouse property from Colimar Inc. for an undisclosed price. Dustin Volz, Zane Marcell and Grant Matthews of JLL, along with Edward Villareal of South Texas Commercial Real Estate, brokered the deal.
HAMPSHIRE, ILL. — Realty Metrix Commercial has brokered the sale of a 50-acre industrial development site in Hampshire, about 40 miles southeast of Rockford. The sales price was not disclosed. The buyer, RMC Holdings Hampshire LLC, plans to develop Metrix Industrial Park. The site is located at the northwest corner of I-90 and Route 20. The park will cater to users in the trucking and cartage industries and is adjacent to a 33-acre Love’s Travel Stop that is currently under construction. Completion of the industrial park is slated for fall 2019.
LANGHORNE AND TREVOSE, PA. — Cushman & Wakefield has negotiated the $44.8 million sale of a light industrial portfolio in Langhorne and Trevose. The 607,890-square-foot portfolio includes 10 buildings and is currently 80 percent occupied by a mix of national, regional and local tenants. Robert Yoshimura, Joseph B. Hill, Eric Mattson, Gerry Blinebury, Jonas Skovdal and Joseph R. Hill of Cushman & Wakefield represented the seller, High Street Realty Co., in the transaction. The Arden Group was the buyer.
BRASELTON, GA. — Monmouth Real Estate Investment Corp. has acquired a newly constructed industrial building in Braselton, roughly 50 miles northeast of Atlanta, for $61.1 million. Delivered earlier this year, the 373,750-square-foot building is net-leased for 15 years to FedEx Ground Packaging System. The facility is situated on 93 acres at 650 Braselton Parkway off of Interstate 85. New Jersey-based Monmouth’s portfolio includes 111 properties totaling 21.2 million square feet.