CLINTON TOWNSHIP, MICH. — Bernard Financial Group has arranged a $1.2 million loan for Icon Industrial, a 91,620-square-foot light industrial park consisting of 10 one-story buildings in Clinton Township. The property is situated on the west side of Groesbeck Highway, south of Hall Road. Neil Gorosh of Bernard Financial Group arranged the loan for the borrower, Icon Industrial Park Group LLC. The lender, Ameritas Life Insurance Corp., is a correspondent of Bernard Financial Group.
Industrial
FORT LAUDERDALE, FLA. — CBRE has arranged the sale of Prospect Park IV, a 68,500-square-foot manufacturing and distribution facility located at 3600 N.W. 54th St. in Fort Lauderdale. KTR Capital Partners purchased the asset for an undisclosed price. Prospect Park IV features 16,171 square feet of corporate offices and a showroom, 26-foot ceiling heights, two dock-high doors, four grade-level doors, two van-high doors, a 110-foot truck court and fire sprinklers. Larry Genet, Harry Tangalakis and Tom O’Loughlin of CBRE represented KTR Capital Partners in the transaction.
ARLINGTON, TEXAS — Lee & Associates represented Surface Preparation Texas in a 13,334-square-foot industrial lease at 1200-1208 Ave. H in Arlington. Mark Graybill with Lee & Associates’ Dallas/Fort Worth office represented Surface Preparation Texas, a distributor of surface finishing materials. CB Richard Ellis represented the landlord, First Industrial Realty Trust.
INKSTER, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of a 16,145-square-foot industrial building in Inkster, approximately 20 miles southwest of Detroit. The property is located at 27016 Princeton St. Gable Properties sold the building to PLC Holdings LLC for an undisclosed sales price. Robert Frank of Friedman represented the seller in the transaction.
ROMEO, MICH. — L. Mason Capitani CORFAC International has arranged the lease of a 20,200-square-foot building in Romeo, approximately 40 miles north of Detroit. Takata Holdings Inc., an international research development corporation of safety technologies, has signed a three-year lease for the facility located at 111 Peyerk Court in the Romeo Business Park. Takata is expanding from its Armada engineering and testing facility. Joe DePonio and Jason Capitani of L. Mason Capitani represented the landlord, Kemp & Peyerk – Sterling LLC, in the transaction.
RIALTO, CALIF. — CapRock Partners has acquired two fully entitled land parcels in Rialto. The parcels are called CapRock Distribution Center I and II. The first parcel is located at the northeast corner of North Locust and West Bohnert. The second is located at the northwest corner of North Linden Avenue and West Casmalia Street. CapRock plans to build more than one million square feet of industrial space on the two sites this fall. The project will have direct access to the 210 Freeway. It’s also near the 10/15 Freeway interchange. CapRock also received $50 million in debt and equity financing that was facilitated by Chris Bramel and Paul Conzelman of Bridgeport Investments.
ALEDO, TEXAS — Marcus & Millichap has arranged the sale of a 6,000-square-foot, net-leased property occupied by Dr. Pepper – Snapple in Aledo, 20 miles west of Fort Worth. Chris Gainey and Philip Levy with Marcus & Millichap marketed the property on behalf of the seller, a private investor. Levy and Gainey also secured the buyer. The industrial building is located at 700 Bear Cat Road. The lease is a five-year, double-net lease with a corporate guarantee from American Bottling Co., a subsidiary of Dr. Pepper Snapple Bottling Group.
WHITE SETTLEMENT, TEXAS — Lee & Associates has arranged the sale of a 45,200-square-foot industrial space located at 801 Ozona Ave. in White Settlement, just west of Fort Worth. Becky Thompson with Lee & Associates’ Dallas/Fort Worth office represented the landlord, Edward Whiting. Transwestern represented the tenant, Traylor Investments Ozona LLC.
FRANKLIN, MASS. — EMC Corp. has renewed its 192,000-square-foot lease at TIAA-CREF’s industrial building in Franklin. The company will continue to occupy the entire facility, which is located at 109 Constitution Blvd. Constructed in 2000, 109 and 111 Constitution Blvd. consist of 192,000 square feet each and are both fully occupied. The high-bay warehouse buildings feature state-of-the-art design and construction and offer 30-foot clear heights, ESFR sprinkler systems and excellent loading capabilities. John Lashar, Paul Leone and Danielle DeMarco of Transwestern | RBJ represented TIAA-CREF, which also owns 111 Constitution Blvd., in the transaction. Jack Burns and David Ross of Cresa Boston represented EMC Corp.
MCKINNEY, TEXAS — NAI Robert Lynn represented C-III Asset Management LLC, a subsidiary of C-III Capital Partners, in the sale of an industrial warehouse and distribution center located at 3000 Redbud Blvd. in McKinney, 30 miles north of Dallas. Saskaway Management Group was the buyer. Dave Peterson, Rick Medinis and Mark Miller with NAI Robert Lynn represented C-III in the transaction. The 888,096-square-foot facility sits on 48 acres of land, formerly the headquarters of Blockbuster Inc. The building was sold after sitting vacant for two years.