Industrial

Build-Point-North-Waukegan-IL

WAUKEGAN, ILL. — Bridge Development Co. has selected PREMIER Design + Build Group to construct Bridge Point North, a 240-acre business park redevelopment within McGaw Park in Waukegan. The first phase of the project includes more than 17 million cubic feet of demolition and reconfiguration of existing roadways and infrastructure and the construction of a 625,000-square-foot building and a 400,000-square-foot building. Additionally, the first phase will include the installation of a new heating system and sanitary sewers in a few of the existing structures. Plans for the second phase are currently underway and include up to seven buildings, totaling 1.1 million additional square feet. Cornerstone Architects LTD is providing architectural services and Manhard Consulting LTD is providing civil engineering services.

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Lone-Star-Self-Storage

LEWISVILLE, TEXAS — Bart Dickinson of NorthMarq Capital’s Dallas office has secured the $1.5 million refinancing of a 42,546-square-foot Lone Star Self Storage facility in Lewisville. The transaction was structured with a fully amortizing, 25-year term. NorthMarq arranged financing for the borrower through its correspondent relationship with an unnamed life insurance company.

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Menomonee-Falls-WI

MENOMONEE FALLS, WIS. — The Dickman Company/CORFAC has brokered the sale of an industrial property located at N92 W15800 Megal Drive in Menomonee Falls. The 48,000-square-foot property sold for an undisclosed sum. Nick Keys of The Dickman Company represented the undisclosed buyer, while Barry Chavin and Adam Matson of NAI MLG represented the undisclosed seller in the transaction.

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PITTSTON, PA. — Woodmont Industrial Partners has acquired a 437,000-square-foot warehouse building, located at One Commerce Road in Pittston, for an undisclosed sum. The property features 48- to 54-foot clear height with racking in place, a 269-car parking lot and rail service. Woodmont plans to implement a capital improvement program to the property, including new trailer parking and the addition of up to 20 loading docks. The property, which served as a book distribution center for Penguin Random House LLC, is currently available for lease. Andrew Houston and Adam Ardise of DTZ represented the undisclosed seller in the transaction.

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SACA

SAN ANTONIO — San Antonio Commercial Advisors (SACA), an independently owned and operated member of the Cushman & Wakefield Alliance, has arranged the sale of 4267 Dividend Drive, a 30,388-square-foot industrial building in Eastwood Industrial Park off White Road in eastern San Antonio. Paul Fagan of SACA represented the seller, while Edward Cross of SACA represented the buyer.

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CORONA, CALIF. – Magnolia Point, a 201,345-square-foot industrial building in Corona, has sold to Padma Laxmi LLC for $20 million. The facility is located at 1560 E. 6th Street. It was built in 2014. The buyer plans to occupy most of the building. It will lease the remaining space. The LLC was represented by Ted Sawyer and Jim deRegt of Lee & Associates-Newport Beach. The seller, CT Corona Partners I LLC, was represented by Jeff Ruscigno of Lee & Associates-Riverside and CBRE’s Ben Seybold.

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TEMECULA, CALIF. – SR Commercial has purchased a 100,600-square-foot industrial property in the Riverside submarket of Temecula for $6.9 million. The facility is located at 26201 Ynez Road. It is fully occupied by Get Air of Temecula and Mountain View Community Church. SR Commercial will make exterior improvements to the property, including roof repairs and exterior paint. It will also update the landscaping and freeway façade. CBRE’s Rob Guiness and Scott Stewart represented both the buyer and seller, Liberty Advisors LLC, in this transaction.

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FORT WAYNE, IND. — General Motors will invest $1.2 billion in its full-size pickup truck plant in Fort Wayne. The investment will include upgrades and technology that will improve the plant’s competitiveness in assembling high-quality light- and heavy-duty models. Construction of the new pre-treat, electro-coat operation and sealing facility, expanded body shop, expanded and new material sequencing centers, and upgraded general assembly area is expected to begin in June and take several years to complete. The production schedules for full-size trucks will not be affected by the upgrades and renovations. The investments are part of the $5.4 billion that GM is planning to invest in U.S. facilities over the next three years.

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Centerpoint-Saddle-Creek

JOLIET, ILL. — Newmark Grubb Knight Frank (NGKF) represented Saddle Creek Logistics in its relocation to a 1.1 million-square-foot build-to-suit distribution facility in Joliet. Located within CenterPoint Intermodal Center, the state-of-the-art facility will be situated on 60 acres. The $43 million facility will feature 32-foot clear ceiling heights, 132 dock doors, four drive-in doors, ample parking, 328 trailer stalls and 15,000 square feet of office space. Saddle Creek is relocating to the new facility from its current 590,000-square-foot facility at 21051 W. Walter Strawn Drive in Elwood, Ill. The company plans to occupy the new space by February 2016. Jack Cozzie of NGKF and Ladson Montgomery of Newmark Grubb Phoenix Realty Group represented Saddle Creek, while Dan Leahy and Adam Roth of NAI Hiffman represented CenterPoint in the transaction.

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Orion-Commerce-Center-MI

ORION TOWNSHIP, MICH. — Bernard Financial Group has arranged a $24 million non-recourse loan for Orion Commerce Center in Orion Township. Located off I-75, the property features 890,000 square feet of warehouse/distribution space. Ashley Capital LLC is the borrower. Dennis Bernard and Kevin Kovachevich of Bernard Financial Group arranged the loan through a national CMBS lender.

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