TERRELL, TEXAS — Lee & Associates, has arranged a lease transaction for a 19,000-square-foot industrial space located at 9752 County Road 310 in Terrell. Brett Lewis of Lee & Associates’ Dallas/Fort Worth office represented the tenant, Axus Paints, in the transaction.
WEST PALM BEACH, FLA. — BankUnited has provided a $65 million loan to McCraney Property Co. to refinance its 1 million-square-foot industrial portfolio in Florida. The assets include Vista Business Center and Belvedere Business Park in West Palm Beach, Orlando Central Park and Discovery Lakes in Orlando and Treasure Coast Commerce Center in Stuart. Robert Hummel led BankUnited’s Miami office in providing the long-term loan.
JACKSON, GA. – Construction is underway on Dollar General’s 15th distribution center in the United States in Jackson, which straddles both Butts and Spalding counties. The 1 million-square-foot industrial facility is expected to create more than 500 new jobs at full capacity and to be operational by fall 2017. Dollar General has more than 13,000 retail locations and 119,000 employees, with more than 700 stores and over 5,000 employees in Georgia. The new distribution center is expected to serve more than 1,000 stores in the Southeast. Dollar General’s 14 other distribution centers are located in Alabama, California, Florida, Indiana, Kentucky, Mississippi, Missouri, Ohio, Oklahoma, Pennsylvania, South Carolina, Texas, Virginia and Wisconsin.
JOILET, ILL. — Hillwood, a Perot company, has acquired an 84.8-acre land site in Joliet for an undisclosed price. The company plans to develop Joliet Logistics Park, a 992,640-square-foot distribution center, on the site. With easy access to I-80 and I-55 and close proximity to BNSF and Union Pacific intermodal operations, the new spec facility will feature 36-foot clear heights, a cross-dock configuration, an ESFR fire protection system, 116 trailer parking spaces with an additional 150 remote spaces, and up to 222 auto space with another 310 available for future expansion. The park, which will have the capacity to expand to 1.5 million square feet, is slated for completion in mid-2017. FCL Builders will serve as the general contractor, and Traci Payette and John Suerth of CBRE will be leasing agents for the project.
STRONGSVILLE, OHIO — Meridian Design Build has started construction on a speculative flex building at 14700 Foltz Parkway in Strongsville. Situated on 21.8 acres, the multi-tenant building will feature 28 loading docks, two drive-in doors and 164 auto parking stalls. Additionally, the design of the building includes a thermoplastic polyolefin roof and LED lighting. The site also includes space for a future 195,137-square-foot building. The project developer is Scannell Properties. Precept Design is providing architectural services and Weber Engineering Services is providing civil engineering work.
NOVI, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of a 2.8-acre industrial lot located on Heslip Drive in Novi. Alpha Industries sold the site to M.J.W. Investments for an undisclosed price. Phil Konopitski of Friedman represented the seller in the transaction.
CARROLLTON, TEXAS — Lee & Associates has negotiated a 101,382-square-foot industrial lease located at 1255 Champion Circle in Carrollton. Nathan Denton of Lee & Associates Dallas/Fort Worth represented the tenant, Value Lighting, a supplier of lighting fixtures and ceiling fans for multifamily residences, in the lease transaction. StoneLake was the landlord.
BELLINGHAM, MASS. — CBRE/New England has arranged the sale of a warehouse and distribution facility located at 150 Depot St. in Bellingham. An institutional investor, advised by Bentall Kennedy LP, acquired the property from National DCP for $25.5 million. The 252,600-square-foot property features dry storage, freezer/cooler space, 30-foot clear heights and ESFR sprinklers throughout the warehouse portion of the building. Dave Pergola, Brian Doherty and Robert Gibson of CBRE/NE represented the seller and procured the buyer in the transaction.
SOMERSET, N.J. — Terreno Realty Corp. has acquired an industrial property, located at 70 Schoolhouse Road in Somerset, for $9.1 million. Situated on 6.9 acres, the 86,000-square-foot building features 12 dock-high and one grade-level loading positions and parking for 61 cars. At the time of sale, the property was 100 percent leased to one undisclosed tenant.
NEW YORK CITY — Cushman & Wakefield has arranged the sale of an industrial warehouse located at 214 40th St. in Brooklyn’s Sunset Park. An undisclosed buyer acquired the property for $6 million, or $437 per square foot. The 13,730-square-foot building features three drive-in garage bays with curb cuts, elevators, a new high-grade industrial hot water boiler, 3,000 amps of electricity and office space on the third floor. Aaron Warkov, Adam Ecker, Daniel Arnel and Michael Purcell of Cushman & Wakefield represented the undisclosed seller in the deal.