WICHITA FALLS, TEXAS — Red Oak Capital Holdings has provided a $9.7 million bridge loan for the refinancing of the Panda Biotech High Plains Hemp Gin facility in Wichita Falls, about 115 miles northwest of Fort Worth. Built in 1978 and renovated to the tune of $34 million over the years, the facility comprises seven buildings totaling 472,903 square feet on a 97-acre site. Grant Garlock and Miles Kallial of BMC Capital arranged the loan, which carries a two-year term and a fixed 10.5 percent interest rate, through Red Oak. The new financing allows the sponsor, Panda Biotech CEO Robert Carter, to continue operations at what is projected to be the largest industrial hemp processing facility in the world.
LEWISVILLE, TEXAS — SportzBlitz LLC has signed a 27,000-square-foot lease in the North Texas city of Lewisville. The provider of athletic media content is taking space at the industrial flex building located at 1000 Spinks Road, which according to LoopNet Inc. was completed last year. Adam Curran and Harrison Davis of Holt Lunsford Commercial represented the owner, Leila Real Estate LLC, in the lease negotiations. Tomas Wilson of Lee & Associates represented the tenant.
COLUMBIA, MD. — A partnership between Marcus & Millichap and Lee & Associates has brokered the $7.8 million sale of 6822 Oak Hall Lane, a 39,096-square-foot flex industrial property located in Columbia, roughly 20 miles southwest of Baltimore. Built in 1984, the facility was fully leased at the time of sale and offers a mix of office and warehouse space with 18-foot ceilings, as well as dock and drive-in loading. Bob Filley and Arvin Gholamrezae of Marcus & Millichap marketed the property on behalf of the seller and procured the buyer, both private investors. Lee & Associates had fully leased the property and partnered with Marcus & Millichap in the sale.
NEW YORK CITY — A partnership between The Port Authority of New York and New Jersey, Worldwide Flight Services (WFS) and Annapolis-based transportation real estate investment and management firm Realterm has completed a $270 million consolidated cargo handling facility at John F. Kennedy International Airport in Queens. WFS, the airport’s main cargo handling agency, will operate the 350,000-square-foot facility, which spans 26 acres, replaces two older facilities and brings together operations from four separate cargo zones into a single modernized location. Realterm, which developed the facility via ground lease, specializes in owning and operating airport logistics facilities via a 17 million-square-foot portfolio of such assets across 37 airports. The project was first announced in summer 2021. The new cargo facility features several innovations designed to reduce wait times for truck drivers and minimize queuing outside the facility. These include an advanced truck dock management system that optimizes the flow of goods in and out of the facility, leveraging real-time scheduling, automated check-ins and digital communication between drivers and dock operators. The system automatically allocates the most efficient doors based on the size, type and contents of each delivery and also ensures that trucks arrive only when a dock is available, …
LAS VEGAS — Panattoni Development Co. has purchased two industrial buildings situated on 7.2 acres in southwest Las Vegas. Terms of the transaction were not disclosed. Located at 3300, 3564 and 3515 Birtcher Drive, Southwest Vegas Innovation Center consists of the 138,817-square-foot Building 1, which includes 83,127 square feet of warehouse space and 55,690 square feet of office space, and Building 2, a 9,100-square-foot industrial building with a fenced yard. The property is currently leased to Aristocrat Technologies Inc., a global, publicly traded gaming and tech company based in Las Vegas.
LIVERMORE, CALIF. — Gantry has secured a $15 million permanent loan for the purchase of North Canyons Business Center, located at 3025-3095 Independence Drive in Livermore. The six-building business offers 105,000 square feet of industrial and office space. Tony Kaufmann and Joe Foley of Gantry arranged the 10-year, fixed-rate loan for the borrower, a private real estate investor. The loan was structured with one of Gantry’s correspondent insurance company lenders with an interest-only period transitioning to 30-year amortization. Gantry will service the loan. The borrower plans to reposition the asset, including increasing industrial use ratios at the property and activating a leasing program.
MIAMI — Cushman & Wakefield has brokered the $7.6 million sale of the Avex Building, a 48,881-square-foot, multi-tenant flex office and warehouse building located at 6405 N.W. 36th St. in Miami. Miguel Alcivar, Scott O’Donnell, Greg Miller and Mike Ciadella of Cushman & Wakefield represented the seller, Taha Properties, in the transaction. Joseph Suarez of Trustpoint Realty LLC represented the buyer, Marrero Capital Investments.
FARGO, N.D. — CBRE has negotiated a 199,600-square-foot industrial lease at Dakota Commerce Center, a 633,200-square-foot development in Fargo. An undisclosed tenant will fully occupy Building 3. Chance Lindsey and Kyle Ferderer of CBRE represented the owner and development partners, Hyde Development and Gremada Industries. The industrial park is now fully leased. Construction on the Class A, four-building development began in 2021, with Building 1 delivered in 2022. Buildings 2 and 3 were completed in 2023 and 2024, respectively. Building 4 is currently under construction and slated for completion this fall.
COVINA, CALIF. — Lee & Associates has negotiated the sale of Arrow Grand Business Park, an industrial property at 753-759 Arrow Grand Circle in Covina. CTT Tools Inc. sold the asset to 2Trees LLC for $20.8 million, or $290.52 per square foot. The 71,762-square-foot property offers 10,000 square feet of office space. Nathan Lara and Jack Nersesian of Daum listed the property, while Justin Chiang and Kevin Ching of Lee & Associates served as procuring agents for the transaction.
COMMERCE CITY, COLO. — Industrial Outdoor Ventures (IOV) has completed its 11th acquisition in the Denver area with the purchase of 5350 Newport Street, a 5-acre property with more than 27,000 square feet of warehouse and office space. Terms of the transaction were not released. Ferguson Fire and Fabrication occupies the site to manufacture and store commercial sprinkler parts and systems. Ferguson has occupied the property for more than 20 years.