CITY OF INDUSTRY, CALIF. – The Unical Industrial Building in the City of Industry has received $26.7 million in acquisition financing. The 472,876-square-foot building is located at 680 S. Lemon Ave. Financing was based on a 17-year term and a 17-year amortization schedule. It was arranged by Michael Elmore of NorthMarq Capital’s Los Angeles regional office on behalf of the new owner-user.
RANCHO CUCAMONGA, CALIF. – A 138,595-square-foot industrial property in Rancho Cucamonga has sold to CT Realty Investors for $9 million. The property is located at 10401 Seventh Street. The seller, Waitex International, will lease back the property. The rate and terms of that lease were not disclosed. CT’s newest acquisition is attached to a 177,550-square-foot building that was purchased by the firm last year. That property is located at 10404 Sixth Street and is fully leased to GiTi Tire USA Ltd. CT plans to redevelop both properties once Waitex’s lease expires. GiTi has agreed to a new long-term lease for both buildings that will commence once the renovations are completed. Jamie Harrison of Lee & Associates Investment Services Group in Los Angeles represented both the buyer and the seller in this transaction.
GLOUCESTER TOWNSHIP, N.J. — Kärcher North America has signed a 130,930-square-foot warehouse lease at 500 University Court in Blackwood, a community within Gloucester Township. Remaining in Blackwood, Kärcher’s relocation to the 275,930-square-foot building will double its amount of space. Kärcher North America is a manufacturer of commercial, industrial and consumer cleaning equipment, with manufacturing and distribution facilities throughout the country. The company’s new space will feature 10,000 square feet of office, 24-foot ceilings, 16 tailgate loading doors and one oversized drive-in door. Marc Isdaner, senior vice president and principal of the Colliers International’s Southern New Jersey office represented Kärcher in the transaction. NAI Mertz represented the landlord.
ALPHA, N.J. — NAI James E. Hanson has arranged the sale of a two-story building at 43 Industrial Drive in Alpha, N.J. The 25,600-square-foot property traded for $1.3 million. Sig Schorr, vice president at NAI Hanson, represented the seller, Alpha Press, in the transaction. Schorr also procured the buyer, Hunterdon Transformer, which designs and manufactures high-performance magnetic devices. Located on 7.3 acres, the building features a tool and parts department with a supervisor’s office, machine shop area and 4,000 square feet of office space on each floor.
HOUSTON — NAI Houston has brokered the sale of a 37,500-square-foot warehouse at 8200 Telephone Road in Houston. The property is located on a 2.7-acre lot in the South Highway 35 industrial submarket. NAI’s John Ferruzzo and Clay Pritchett represented the seller, Eastpark Partners Limited, while Doyle Toups of Moody Rambin Interests represented the buyer, DSDY Real Estate LLC.
ELIZABETH, N.J. — Duro Standard Products Co. Inc. has signed a 70,000-square-foot lease for industrial space at 1000 Jefferson Ave. in Elizabeth, located about seven miles south of Newark. The tenant, which is a division of Duro, one of the largest paper bag manufacturers in the world, is relocating from another property in Elizabeth. Barry Cohorsky and Russell Verducci of NAI James E Hanson represented Duro Standard Products Co. in the transaction. Owned by Templer Associates, the two-story, Class C manufacturing building is located in the Union industrial cluster. Built in 1948, the building has a total of 190,000 rentable square feet on 9.7 acres.
EAST BRUNSWICK, N.J. — Excel Trading has signed a lease for the entire 68,200-square-foot distribution facility at 40A Cotters Lane in East Brunswick, located about seven miles south of Edison. The property features 22-foot clear ceiling heights, 12 loading docks, two drive-in doors and 25 parking spaces. The property provides direct access to Exit 9 of the New Jersey Turnpike. Excel Trading LLC buys and sells goods from many of the largest retailers, as well as many wholesale companies. Stephen Nozza and John Cascio of Bussel Realty Corp. represented Excel Trading in the transaction.
WAUKEGAN, ILL. — HSA Commercial Inc. has partnered with Boston-based Great Point Investors to develop a 218,500-square-foot speculative warehouse facility at Delany and Blanchard roads in Waukegan, a northern suburb of Chicago. The partnership broke ground this month on the new industrial building, which will be divisible to 25,000-square-foot suites. The suites will offer 30-foot clear heights, 28 truck docks, four drive-in doors, 300 parking spaces and access to Highway 41 and Interstate 94. Michael Caprile, vice chairman, and Steve Roth, executive vice president, of CBRE secured Great Point Investors for the joint venture with HSA. Birmingham, Ala.-based Regions Bank is providing construction financing for the project, and Premier Design + Build will serve as the general contractor.
SULLIVAN, WIS. — Breakout Investments LLC has purchased a 20,000-square-foot industrial building and three self storage buildings totaling 18,000 square feet in Sullivan. Hotchkiss LLC and Sullivan Self Storage LLC were the sellers of the properties, which are located at W2355 Highway 18, about 40 miles west of Milwaukee. Zach Noble of Dickman Co. Inc./CORFAC International was the broker in the transaction.
SAN ANTONIO — Stream Realty Partners has signed Friedrich Air Conditioning Co. to a lease of 17,600 square feet in building two of the Isom Business Center, an industrial property in the Northeast submarket of San Antonio. Friedrich, a manufacturer of residential and commercial air conditioning and refrigeration products, will use the space as a research and development facility. In total, Isom Business Center comprises 175,200 square feet in three buildings. Stream’s Jason Schnittger represented landlord DRA Advisors in the deal, while Chuck King of Travis Commercial Real Estate Services Ltd. represented the tenant.