Industrial

Dermody Properties Starts Construction of LogistiCenter at Las Vegas Boulevard

by Nellie Day August 30, 2016

LAS VEGAS — Dermody Properties has started construction of LogistiCenter at Las Vegas Boulevard, a 550,000-square-foot industrial facility in Las Vegas. The facility will be situated near North Walnut Road in the Interstate 15 corridor. LogistiCenter at Las Vegas Boulevard will be equipped to handle distribution, e-commerce, manufacturing and warehouse operations. The space will be able to accommodate up to four tenants. Darmody expects to complete the project by the second quarter of 2017. United Construction Co. is designing and building the property. The site offers an additional eight to nine acres of excess land for retail or office development.

August 30, 2016

Industrial Kansas Midwest

Monmouth Real Estate Investment Corp. Acquires FedEx Distribution Facility in Metro Kansas City for $31.7M

by Christina Cannon August 30, 2016

OLATHE, KAN. — Monmouth Real Estate Investment Corp. has acquired a 313,763-square-foot industrial building in Olathe, approximately 25 miles southwest of Kansas City, for $31.7 million. The property, located on 45 acres at 22525 W. 167th St., is net-leased to FedEx. The brand new building is a Class A, built-to-suit distribution facility. The seller in the transaction was undisclosed.

August 30, 2016

Industrial Loans Midwest Minnesota

NorthMarq Capital Arranges $6M Acquisition Loan for Industrial Park Outside Minneapolis

by Christina Cannon August 30, 2016

BROOKLYN PARK, MINN. — NorthMarq Capital has arranged a $6 million acquisition loan for a 120,030-square-foot industrial property in Brooklyn Park, approximately 10 miles north of Minneapolis. The Stein Industries Building is located at 7500 Setzler Parkway N. Patrick Minea of NorthMarq Capital negotiated the loan for the undisclosed borrower through a life insurance company. The loan features a 20-year term and 20-year amortization schedule.

August 30, 2016

Industrial Michigan Midwest

Friedman Brokers Sale of 37,800 SF Industrial Property Near Detroit

by Christina Cannon August 30, 2016

WALLED LAKE, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 37,800-square-foot industrial building in Walled Lake, approximately 35 miles northwest of Detroit. Martin Rd Investments LLC sold the asset, located at 850 Ladd Road, to RW Farmington LLC for an undisclosed price. Phil Konopitski, and Mike Koenigbauer of Friedman represented both parties in the transaction.

August 30, 2016

Industrial Oregon Western

Specht Development Starts Construction of 732,824 SF Industrial Project in Gresham

by Nellie Day August 29, 2016

GRESHAM, ORE. — Madison-Specht Vista Logistics LLC, a partnership between Specht Development and New York Life Real Estate Investors, has started construction of a 732,824-square-foot spec industrial building in Gresham. The 37.4-acre site is located at SE 223rd and Stark streets. The new facility will be called Vista Logistics Park. The site was purchased from the Port of Portland for $9.2 million. The project should be completed this fall. Don Ossey and David Ellis of the Capacity Commercial Group will lead the facility’s leasing efforts. Perlo Construction is building the project, which Mackenzie architects designed.

August 29, 2016

Industrial Midwest Office Wisconsin

Scannell Properties Breaks Ground on 102,125 SF Industrial Facility Near Madison

by Christina Cannon August 29, 2016

SUN PRAIRIE, WIS. — Scannell Properties has broken ground on a 102,125-square-foot industrial and office facility for Kollege Town Sports in Sun Prairie, approximately 15 miles northwest of Madison. Kollege Town Sports is a division of Riddell, a designer and developer of athletic apparel and equipment. The building, situated on 13 acres, will support operations such as sales, production and warehousing. Kollege Town will transition to the new facility from its current location in Windsor in spring 2017. The project team includes Avison Young, real estate consultant and construction manager; Incentis Group, public incentives consultant; Scannell Properties, developer; Heitman Architects, architect; Sullivan designBUILD, general contractor; and Quam Engineering, civil engineer.

August 29, 2016

Industrial Michigan Midwest

Friedman Negotiates 36,400 SF Industrial Lease in Grand Rapids

by Christina Cannon August 29, 2016

GRAND RAPIDS, MICH. — Friedman Integrated Real Estate Solutions has negotiated the lease of 36,400 square feet of industrial space in Grand Rapids. Clark’s White Glove Delivery will occupy the climate-controlled warehouse, located at 7458 Expressway Drive, beginning in October. Expressway Dr LC – Robert Grooters Development Co. is the landlord. Larry Schultz of Friedman Integrated Real Estate Solutions represented the tenant in the transaction.

August 29, 2016

Industrial Texas

Paladin Partners Finalizes Sale of 1.5M SF Industrial Building in Dallas

by Haisten Willis August 29, 2016

DALLAS — Dallas-based Paladin Partners has finalized the sale of a 1.5 million-square-foot former Home Depot Distribution Center, now called North Texas Industrial Center. The building was sold on behalf of a joint venture partnership that included Hackman Capital Partners, Oaktree Capital and Calare Properties Inc. The building is situated in Corsicana at 2200 S. Business 45, less than a quarter mile from I-45.

August 29, 2016

Industrial Office Texas

NAI Partners Represents Pac-Van Inc. in Office/Warehouse Lease in Houston

by Haisten Willis August 29, 2016

HOUSTON — NAI Partners has represented Pac-Van Inc. in leasing a freestanding office/warehouse facility situated on 3.1 acres at 12206 Beaumont Highway in Houston. Founded in 1993 in Indianapolis, Pac-Van specializes in providing portable storage and office space solutions. The company provides 14-gauge steel storage containers. Michael Keegan of NAI Partners represented the tenant, Pac-Van, during lease negotiations, while Fausto Nolassco of Realty Associates represented the landlord, Gabriel Valeriano.

August 29, 2016

Industrial Loans Massachusetts Northeast

Calare Properties Receives $4M in Acquisition Financing for Industrial Property in Massachusetts

by Amy Works August 29, 2016

LAKEVILLE, MASS. — Calare Properties Inc. has received nearly $4 million in financing for the acquisition of 8 Lakeville Business Park, a 100,000-square-foot warehouse building located in Lakeville. Kyle Juszczyszyn, Chris Coutts and Lenny Pierce of CBRE/New England’s Debt & Structured Finance team secured the financing, which was provided by East Boston Savings Bank. The fully leased property is occupied by Guardian Building Products and T3 Expo.

August 29, 2016

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