RENO, NEV. – The leasehold interest on Brookside Corporate Center, a 261,141-square-foot industrial center in Reno, has sold to Libitzky Property Companies for $15.8 million. The Class A center sits adjacent to Reno-Tahoe International Airport. The three-building center is on a ground lease owned by the airport. HFF’s Steve Golubchik, John Simerlein and Josh DiSalle represented the seller.
NAPA, CALIF. – Western Wine Distribution warehouse, a 196,800-square-foot industrial property near Napa, has received an $8-million refinance. The property is located at 1275 Commerce Blvd. The loan contains a 10-year term and a 25-year amortization schedule. It was arranged by Robert R. Hervey of NorthMarq Capital’s Los Angeles office through the firm’s correspondent relationship with Nationwide Life Insurance Company.
ANAHEIM, CALIF. – A 24,480-square-foot industrial building in Anaheim has sold to an unnamed buyer for $2.5 million. The building is located at 145 W. Santa Ana Street. It also contains 2,250 square feet of office space. The property is leased to EmilAmerica. Chris Migliori of DAUM’s Orange County office represented both parties in the transaction
FRANKFORT, KY. — Monmouth Real Estate Investment Corp., a public equity REIT, has acquired a newly built, 599,840-square-foot industrial building at 1509 Leestown Road in Frankfort for $28 million. The build-to-suit property is fully leased to Jim Beam Brands Co. for 10 years. The Class A property is situated on approximately 92.2 acres and is expandable by an additional 200,000 square feet.
UNION CITY, CALIF. — Terreno Realty Corporation has acquired Central Plaza, a 170,129-square-foot industrial complex in the San Francisco Bay Area submarket of Union City, for $23.8 million. Terreno is also under contract to acquire Central Pacific, an adjacent industrial project that is currently under construction, for $37.2 million. The three-building, Class A Central Plaza is located at 33306-33580 Alvarado Niles Road. It recently received an upgrade to its exterior façade, asphalt, roof and HVAC system. Central Plaza is currently 99 percent leased. Notable tenants include Strapack, CoreMark and Phillips Delivery. The four-building, 300,000-square-foot Central Pacific is scheduled for completion next March. The Class A project is being developed by Westcore Properties, which was also the seller of Central Plaza. Kevin Hatcher and Mark Maguire of Colliers International represented both Westcore Properties and Terreno Reality Corporation in these transactions.
MCDONOUGH, GA. — Ridgeline Property Group plans to develop a 714,560-square-foot speculative industrial building in McDonough, a city in the South Atlanta industrial submarket. The property, known as McDonough Commerce Center, will sit on a 53-acre site off the I-75 and Highway 155 interchange. Clarion Partners will be Ridgeline’s capital partner on the project, which is slated for a late summer 2015 completion. The facility will be able to handle large-scale distribution operations and e-commerce order fulfillment. Ben Logue and Price Weaver of Colliers International’s Atlanta office will lease the property. McDonough Commerce Center will feature 36-foot clear heights, 56-foot wide bay spacing, concrete truck courts, ESFR fire suppression, 431 parking spaces and 160 trailer spaces (expandable to 240 trailer spaces).
LAS VEGAS — A partnership between Cambridge Companies and Diamond Rock Partners has announced plans to build a 1-million-square-foot industrial project in Las Vegas. The project will be constructed on about 50 acres of land in North Las Vegas. It will target end-users seeking larger facilities. Cambridge Companies has developed projects and invested in land in Las Vegas for more than 20 years. Diamond Rock Partners LLC is a privately held real estate owner and investment company that advises and invests alongside high-net-worth and institutional clients in a broad range of commercial and residential real estate, including property acquisitions, development, construction and repositioning.
SPARKS, NEV. – Monsoon Pacific has expanded at the Spice Islands Industrial Center in Sparks. The company has absorbed an additional 20,400 square feet at the center, which is located at 945 Spice Island Drive, just east of Reno. Michael Nevis, Dave Simonsen, J. Michael Hoeck and Steve Kucera of the NAI Alliance Industrial Properties Group represented both the tenant and unnamed landlord in this transaction.
LANCASTER, TEXAS — Stream Realty Partners has arranged the sale of an industrial property located at 3334 N. I-35 in Lancaster. The 55,000-square-foot building is located on three acres and was purchased by an investor. Todd Noonan and Hanes Chatham of Stream Realty Partners handled the sale. The property includes 5,000 square feet of office space and additional land for expansion, parking or outside storage.
SAN DIEGO – A 128,531-square-foot industrial property in the San Diego submarket of Vista has sold to KI-Vista-LPSM LLC for $13.5 million. The Class A building is located at 2611 Business Park Drive. The single-tenant manufacturing and distribution building recently underwent a rehab and repositioning. It had served as Dimension One’s corporate headquarters until its leaseback agreement expired in November 2013. The buyer secured a lease with Stone Brewing Co. to use the space as its new national distribution center. The LLC was represented by Colliers International. The seller, SR Commercial, was represented by Joe McDermott, Ron King and Bob Willingham of Cushman & Wakefield.
