Industrial

The Hampshire Companies Sells 125,000 SF Industrial, Office Complex in New Jersey

by Amy Works July 29, 2016

HACKENSACK, N.J. — The Hampshire Companies has completed the sale of an industrial and office complex located at 86-110 Orchard St. in Hackensack. A private buyer acquired the property for an undisclosed sum. Situated on 5.2 acres, the 125,000-square-foot property features 110,000 square feet of warehouse space and 15,000 square feet of office space. The warehouse space is broken into 11 independent and fully demised industrial units with ceiling heights ranging from 14 feet to 25 feet. Additionally, the complex features 12 external docks, 10 drive-ins and 109 on-site parking spaces. Renovated in 2013, the property was 96 percent leased at the time of sale. Jeffrey DeMagistris, Thomas Vetter and Gregory James of NAI James E. Hanson represented The Hampshire Companies in the deal.

July 29, 2016

Illinois Industrial Midwest

Transwestern Investment Group Acquires Five-Property Industrial Portfolio in Chicagoland

by Christina Cannon July 29, 2016

CHICAGO —TSP Value and Income Fund, a subset of Transwestern Investment Group, has purchased a five-property, industrial portfolio in the Chicago area for an undisclosed price. The portfolio, which is fully occupied, totals 1.4 million square feet. The properties include 3800 Sunset Ave. in Waukegan; 301-363 N. Third Ave. in Des Plaines; 5300 Proviso Drive in Melrose Park; 7400 Richards Road in Bridgeview; and 5100 W. 123rd St. in Alsip. The properties have clear heights ranging from 21 feet to 30 feet and all have some percentage of office finish. The portfolio features eight tenants including Dulin Metals Co., Permasteelisa North America, Midland Paper Co., Keystone Automotive Industries and Cornfields Inc. Christopher Carroll and Brian Carlton of HFF placed a five-year, fixed-rate acquisition loan for the portfolio with a life company.

July 29, 2016

California Industrial Western

CapRock Partners Acquires Two Industrial Assets in Garden Grove for $9.4M

by Nellie Day July 28, 2016

GARDEN GROVE, CALIF. — CapRock Partners has purchased two industrial properties in Garden Grove for a total of $9.4 million. The assets are located at 7180 Lampson Ave. and 12570 Industry St. The two properties occupy one parcel and comprise a total of 76,888 square feet. CapRock plans to refurbish both the occupied 39,200-square-foot building on Lampson and the vacant 37,688 square-foot property on Industry. CBRE’s Steve Young, Bob Goodmanson and Brad Schneider represented both CapRock Partners and the seller, a local investor, in this transaction.

July 28, 2016

Industrial New Jersey Northeast

Bussel Realty Negotiates $9.1M Sale of 82,000 SF Industrial Facility in New Jersey

by Amy Works July 28, 2016

LINDEN, N.J. — Bussel Realty Corp. has negotiated the sale of an industrial facility located at 2401 E. Linden Ave. in Linden. Penwood Real Estate Management acquired the property from 265 Pennsylvania Realty for $9.1 million. The 82,000-square-foot facility features 5,000 square feet of office space, 21-foot clear heights and 10 loading docks, as well as a new paved parking lot, doors and HVAC. Three tenants in the food and pharmaceutical sectors, including Ultimate Foods, occupy the fully stabilized, net-leased building. Jordan Metz of Bussell Realty represented the buyer and seller in the transaction.

July 28, 2016

Industrial Texas

Stream Realty Partners Negotiates 25,841 SF Distribution Center Lease in San Antonio

by Haisten Willis July 28, 2016

SAN ANTONIO — Stream Realty Partners has secured a 25,841-square-foot lease at Crosswinds Distribution Center – Building C for Copenhagen Imports, a furniture importer. The property is located at 11827 Tech Com Road in San Antonio. Kevin Cosgrove and Payton Rion of Stream Realty Partners Central Texas represented the landlord, DRA Advisors, in the lease transaction. Crosswinds Distribution Center consists of two industrial buildings totaling 142,403 square feet. The property is located at the intersection of Wurzbach Parkway and Tech Com Road in northeast San Antonio. The industrial space features 160-foot building depths, storefronts, 24-foot clear heights and a rear-load concrete truck court.

July 28, 2016

Industrial Texas

NAI Partners Brokers 30,000 SF Industrial Lease in Houston

by Haisten Willis July 28, 2016

HOUSTON — NAI Partners has arranged the lease of a 30,000-square-foot distribution facility located at 14039 S. Gessner Road in Houston. Darren O’Conor and Jake Wilkinson of NAI Partners represented the landlord, Roadrunner Ltd., during the lease negotiations with the tenant, Valve Index Inc., a seller of valve products.

July 28, 2016

Industrial Mississippi Southeast

Ridgeline Enters Memphis Industrial Market with I-269 Logistics Center in Mississippi

by John Nelson July 28, 2016

MARSHALL COUNTY, MISS. — Atlanta-based Ridgeline Property Group is entering the Memphis industrial market with the development of I-269 Logistics Center, an industrial park situated in Marshall County in Mississippi near the Tennessee-Mississippi border. The project will span up to 3.5 million square feet of Class A distribution and industrial space. Ridgeline has formed a joint venture with the owner of the 328-acre site, Mississippi Land Holdings LLC, an investment vehicle owned by the CK Pearl family of funds and managed by Crestline-Kirchner LP. The site is situated at the intersection of Goodman Road and the new I-269 beltway. The joint venture has selected Dave Curran and Matt Weathersby of Cushman & Wakefield/Commercial Advisors to market I-269 Logistics Center for lease.

July 28, 2016

Illinois Industrial Midwest

Transwestern Brokers Sale of 40,000 SF Industrial Property Near Chicago

by Christina Cannon July 28, 2016

ADDISON, ILL. — Transwestern has brokered the sale of a 40,000-square-foot industrial property in Addison, approximately 25 miles west of Chicago. Venture One Real Estate purchased the property, located at 120 Fairbank St., from a private seller for an undisclosed price. The facility, built in 1979, features six exterior docks, three drive-in doors and 1,500 square feet of office space. Justin Lerner and Joe Karmin of Transwestern represented the seller in the transaction.

July 28, 2016

Industrial Life Sciences New Jersey Northeast Office

QuVa Pharma to Acquire 160,000 SF Biotech Facility in New Jersey

by Amy Works July 27, 2016

NEW JERSEY — QuVa Pharma Inc. has signed an agreement to acquire an FDA-approved biotech pharmaceutical facility near Route 78 in western New Jersey. The 160,000-square-foot facility will enable QuVa Pharma to significantly extend its production capability and capacity to deliver high-quality, ready-to-use compounded sterile drug preparations to hospitals in key markets in the eastern half of the United States. QuVa currently operates two 503B-registered manufacturing facilities in Texas. Terms of the sale, including the name of the seller and acquisition price, were not released.

July 27, 2016

California Industrial Western

Greenwood Business Center Changes Hands in Napa

by Nellie Day July 27, 2016

NAPA, CALIF. — An unnamed buyer has acquired Greenwood Business Center, a 226,044-square-foot distribution warehouse building in Napa, for an undisclosed sum. The Class A warehouse was fully leased to Adams Wine Group. It was built on spec in December 2015. New York Life Real Estate Investors sold the property on behalf of McMorgan Northern California Value Add/Development Fund.

July 27, 2016

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