LOUISVILLE, KY. — Monmouth Real Estate Investment Corp. has purchased a new 137,500-square-foot industrial building located at 2311 S. Park Road in Louisville for $11.3 million. The building is situated on approximately 10.2 acres off I-65, roughly seven miles south of the Louisville International Airport. The property is net-leased for 10 years to Challenger Lifts Inc., a subsidiary of Snap-on Inc. The lease is guaranteed by Snap-on. Monmouth, a publicly traded REIT based in Freehold, N.J., has a portfolio comprising 97 properties located in 30 states, containing a total of approximately 15.1 million square feet.
STAFFORD, TEXAS — NAI Partners has negotiated a lease renewal for Service Master Southwest at 12613 Executive Drive in Stafford, a suburb of Houston. The company will continue to occupy 14,950 square feet of industrial warehouse and office space at the property. Chris Caudill of NAI Partners represented the tenant during the lease negotiations, while Bo Pettit of Boyd Commercial represented the landlord, Crow Holdings.
NEW YORK CITY — Meridian Capital Group has arranged $14.4 million in permanent financing for the refinance of a mixed-use property located at 156 Prince St. in SoHo. The five-year loan, provided by a balance sheet lender, features a fixed rate, 18 months of interest-only payments and a five-year extension option. Scott Assouline and Isaac Lifshitz of Meridian Capital arranged the financing for the borrower. The six-story property features 22 apartment units and two retail spaces totaling 1,100 square feet. The retail spaces are currently occupied by Techno Solutions Group Inc. and Juice Press.
DALLAS — Alliance Architects has completed the design of a 760,000-square-foot distribution center in Dallas. The property is a build-to-suit for Ulta Beauty, a national beauty products retailer. The recently completed facility is located on a 94-acre site within Mountain Creek Business Park. The property features 32-foot clear heights, 46 dock doors and 29,220 square feet of office space. The distribution center is in the process of becoming LEED-certified. Alliance Architects’ team members included Chad Michel, Zac Bartz and Scott Franckowiak. The development team includes developer Prologis, general contractor The Conlan Co., civil engineer Pacheco Koch Consulting Engineers, structural design firm McHale Engineering and landscape architect Belle Firma.
DALLAS — Lee & Associates has arranged the sale of a 27,613-square-foot warehouse located at 1380 N. Cockrell Hill in Dallas. Robert Miller of Lee & Associates represented the seller, QC40 Development LLC, in the transaction. Todd Lambeth of Colliers International represented the buyer, J&H Texas LLC.
DAYTON, OHIO — Industrial Realty Group has purchased a 224,400-square-foot industrial building in Dayton for an undisclosed price. The facility is located on 15.4 acres at 678 Yellow Spring Fairfield Road. Industrial Realty Group will manage the property and oversee the lease of the remaining space in the multi-tenant building. Doug Whitten and Matthew Arnovitz of CBRE represented the seller, Transcontinental Ohio Inc. in the transaction.
SOUTH BRUNSWICK, N.J. — Cushman & Wakefield has arranged the lease of 221,000 square feet of industrial space at 130 Interstate Blvd. in South Brunswick. O’Neill Logistics, a third-party logistics firm, is relocating from two addresses in Avenel, N.J., to the facility within the Exit 8A submarket. Additional tenants at the facility include FedEx and Home Depot. Dan Badenhausen and Andrew Stypa of Cushman & Wakefield represented tenant, while Nathan Demetsky of JLL represented the landlord, Terreno Realty Corp., in the transaction.
STRATFORD, CONN. — Exeter Property Group has acquired Stratford Industrial Park, a four-building industrial park located at 500-650 Long Beach Blvd. in Stratford. Stratford Development sold the 428,000-square-foot asset for $41 million. Situated on 34 acres, the park is 100 percent occupied by a variety of tenants, including Starbucks Coffee, FedEx Ground, Carrier Corp. and Endo Industrial. Kyle Schmidt, Gary Gabriel, Andrew Merin, David Bernhaut, Al Mirin and Kate Schwartz of Cushman & Wakefield brokered the deal.
SECAUCUS, N.J. — G.S. Wilcox & Co. has arranged $25 million in financing for a 338,661-square-foot single-tenant warehouse facility located in Secaucus. Financed by Thrivent Financial, the loan features a fixed rate for five years and a 30-year amortization schedule. The 338,661-square-foot property is currently net leased by Staples. Gretchen Wilcox and Al Raymond of G.S. Wilcox originated the loan for the undisclosed borrower.
CHICAGO — Summit Design + Build LLC has completed a 120,000-square-foot renovation for Economy Packing, Chicago’s largest direct receiver of meat and seafood that was founded in 1932. The facility, located at 4501 W. Ann Lurie Place within the Crawford Industrial Park in Chicago, is Economy Packing’s new warehouse and distribution facility after the company sold four buildings in the Fulton Market meatpacking district last year. The building includes roughly 10,000 square feet of office space, 95,000 square feet of warehouse space and 15,000 square feet of completely upgraded freezer space. The renovation also included the addition of 20 refrigerated loading docks. Alan R. Schneider Architects provided architectural services for the project.