HOUSTON — NAI Houston has represented Axis Texas Development Group LLC in the sale of an industrial building located in the 529 Business Commerce Park, an industrial park in Houston comprised of eight buildings. The 4,500-square-foot building is the first of eight buildings to sell in the 529 Business Commerce Park, an Adkisson Development project. John Ferruzzo and Travis Land of NAI Houston represented the seller, Axis Texas. Sara Allen of Edge Realty Partners represented the buyer, Wymer Management Inc.
EDISON AND PISCATAWAY, N.J. — HFF has secured $15.5 million in financing for the Business Centre at Edison, a 12-building office park located in Edison, and 140 Ethel Road West, an industrial building in Piscataway. HFF placed the seven-year, fixed-rate loan with Investor Banks for the borrower, Denholtz Associates. The loan will be used to retire existing debt. Located at 1090 King Georges Post Road in Edison, the 125,981-square-foot Business Centre at Edison is currently 96.9 percent leased. Situated on 6.24 acres in Piscataway, the 108,875-square-foot 140 Ethel Road West is currently 90 percent leased. Jon Mikula, Michael Klein and Michael Lachs of HFF negotiated the financing for the borrower.
ASTON, PA. — KarMar Realty Group has brokered the sale of a flex building, located at 2626 Market St. in Aston. Keenan Auto Body purchased the property from I&I Sling Inc. for an undisclosed price. Situated on 1.93 acres, the 24,000-square-foot property features 20-foot ceilings, two tailgate docks, heavy power, ample parking and gas heat. Donald Grimes of KarMar Realty Group represented the seller in the transaction.
PHOENIX — Elontec has leased 28,231 square feet of space at Freeport Industrial Center in Phoenix. The center is located at 5502 W. Buckeye Ave. The female-owned office furniture, relocation and cabling company will be consolidating and relocating from nearby 5402 W. Roosevelt Street. The new lease brings the 103,400-square-foot center to full occupancy. Elontec was represented by Ted Liles of Cresa. The landlord, Environmental Development, was represented by Justin LeMaster, Mike Gilbert and Paul Sweetland of Cushman & Wakefield’s industrial division.
HOUSTON — NAI Houston has arranged the sale of a 15,200-square-foot industrial building in Houston. The property is situated on 1.6 acres located at 929 Airtex Drive. John Ferruzzo and Travis Land of NAI Houston represented the seller, Steadfast Development Co. LLC. Andy Sowell of Boyd Commercial represented the buyer, JSK & CCK LLC.
LAWRENCEVILLE, GA. AND GREEN COVE SPRINGS, FLA. — King Industrial Realty/CORFAC International has completed 183,000 square feet of industrial leases in two transactions in Lawrenceville and Green Cove Springs. Specialty Rolled Metals LLC has leased 83,000 square feet of space for five years at 975 Progress Center Drive in Lawrenceville. Jeff Graham and Jason McCart of King/CORFAC represented the landlord, Dietrich Gross Trust, in the transaction. Additionally, Graham represented U.S. Lumber Group in a five-year, 100,528-square-foot lease renewal at 4627 J.P. Hall Blvd., Suite 107 in Green Cove Springs. The building is owned by Green Cove LLC.
PEABODY, MASS. — NorthMarq Capital’s Boston office has secured $9.9 million in refinancing for an industrial property located at 3 Technology Way in Peabody. The property offers 160,000 square feet of Class A industrial space. The commercial mortgage was structured with a 10-year term and a 30-year amortization schedule. Michael Chase of NorthMarq arranged the financing for the borrower through its correspondent relationship with a Guardian Life Insurance Company.
ROMEOVILLE, ILL. — Meridian Design Build has begun construction on a new 188,166-square-foot cold storage facility in Romeoville. The build-to-suit facility is situated on a 35-acre site located at Airport Road just west of Southcreek Parkway. The property will include office space, dry storage, a refrigerated palletizing area and a -10°F freezer sized to accommodate 21,000 pallet positions. The new building will also include 36 loading docks, 75 exterior trailer stalls and 177 auto parking positions. A refrigerated elevated building link will be constructed to accommodate conveyance of product from an adjacent production facility. WBS Equities LLC and Abbott Land & Investment are providing development services for the project. Meridian has retained Ware Malcomb to provide architectural and structural design services for the project. Jacob & Hefner Associates will provide civil engineering services.
KAPOLEI, HAWAII – A partnership between Angelo Gordon & Co. and Metric Holdings has acquired Kapolei Trade Center, a 221,000-square-foot industrial center, for $35 million. The property is located at 2045 Lauwiliwili Street inside the Kapolei Business Park in Kapolei. The center includes 17 detached industrial buildings on 11.8 acres. It was built in 2008. Kapolei’s seller, iStar Financial, initially acted as the project’s lender, taking control of the center in 2010. It was stabilized before iStar’s decision to sell the asset. The center’s listing agents are Guy Kidder and Scott Mitchell of Colliers International. The partnership, called AG-Metric KTC Holdings, has previously acquired the former Hawaii Raceway, now known as Malakole Industrial Park.
SALT LAKE CITY — Lofgren Distribution Warehouse, a 40,328-square-foot industrial building in Salt Lake City, has sold to Engineered Wall Systems (EWS) for an undisclosed sum. The building is located at 250 West 2855. The exterior wall panel systems provider will use the facility as its new company headquarters. EWS was represented by Kelsie Akiyama of Newmark Grubb ACRES. The seller, Lofgren Funiture, was represented by Robert Kingsford of Newmark Grubb ACRES.