MAYNARD, MASS. — Parsons Commercial Group has brokered the sale of 109 Powdermill Road in Maynard. KaileyBoo LLC purchased the 114,467-square-foot office and R&D facility for $2.3 million. Situated on 10 acres, the property is currently zoned for industrial use, which includes R&D, manufacturing, warehouse and professional uses. Victor Galvani of Parsons Commercial Group represented the seller, Great Point Investors, and the buyer in the transaction.
Industrial
FONTANA, CALIF. — Pacific Industrial has broken ground on Sierra Pacific Center, a 744,032-square-foot logistics and distribution facility in Fontana. The Class A facility will be located at 5565 Sierra Ave., near the 15 and 210 freeways. The new center will be situated near the facilities of notable companies like Target, Nordstrom, Under Armor, Black & Decker and OHL. The center is expected to be complete by the first quarter of 2015. Paul Earnhart of Lee & Associates Ontario will act as the exclusive leasing agent for Sierra Pacific Center.
RANCHO CUCAMONGA, CALIF. — Bixby Land Co. has acquired two contiguous industrial buildings in Rancho Cucamonga for $26.8 million. The buildings are located at 10404 Sixth Street and 10401 Seventh Street. They total 316,197 square feet. Both buildings are fully leased to GiTi Tire USA Ltd. The company uses the buildings for storage and distribution of automobile and truck tires. Both properties also underwent recent improvements, which included new paving, upgrades to the sprinkler systems, improvements to the office areas and landscaping upgrades. Darla Longo from CBRE’s Ontario office represented both the buyer and seller, CT Realty, in this transaction.
DALLAS — HFF has secured $175 million in financing for a seven-property, 5 million-square-foot industrial portfolio in California, Texas and Mississippi. HFF worked on behalf of the borrower, a fund managed by Clarion Partners, to secure a fixed-rate loan through TIAA-CREF. Loan proceeds were used to retire debt on the portfolio. The assets include two properties in San Bernardino, Calif., two in the Dallas area and one in Southaven, Miss. The portfolio is 94.1 percent leased and the properties were built between 2001 and 2005. John Rose led HFF’s team.
OKLAHOMA CITY — Sealy & Co., a commercial real estate investment company headquartered in Dallas, has acquired a Gardner Tanenbaum Holdings project in Oklahoma City through the Sealy Strategic Equity Partners investment fund. The 280,000-square-foot industrial building is located near I-35 and Britton Road in north Oklahoma City. The tenant, utility tape manufacturer ShurTech Brands, recently signed a 15-year lease.
SAVANNAH, GA. — Hart Corp. has arranged the sale of a 142,500-square-foot industrial facility located at 730 King George Blvd. in Savannah. Howard Fertman and Bart Hardison of Hart Corp. represented the buyer, Kimball Midwest, in the transaction.
RICHMOND, VA. — Porter Realty Co. Inc./CORFAC International has secured the 161,445-square-foot lease of bulk industrial space in Building 300 of Hewlett Packard’s complex in the White Oak Distribution Center in Richmond. Clifford Porter of Porter Realty/CORFAC represented the tenant, New York-based Premier Fixtures LLC, a retail store fixture and display specialist, in the lease transaction.
SOUTH BRUNSWICK, N.J. — Dermody Properties and AEW Capital Management have broken ground for the construction of LogistiCenter Exit 8A, a 308,276-square-foot industrial facility in South Brunswick. Located in the heart of the New Jersey Turnpike Exit 8A market, the facility will feature 36-foot clear heights, 66 car 59 trailer parking spaces, energy efficient lighting, 35,000-pound dock levelers and office space. LogistiCenter Exit 8A is slated for completion in February 2015. AEW is partnering in the development on behalf of AEW Partners VII LP, an opportunistic real estate fund. Jules Nissim and Marc Petrella of Cushman & Wakefield will market the property.
CITY OF INDUSTRY, CALIF. – A 40,548-square-foot warehouse/distribution building in the City of Industry has sold to a private owner-user for $6 million. The building is located at 418 S. 9th Ave. within the Don Julian Business Center. The buyer was represented by Chris Tolles of Cushman & Wakefield. Tolles also represented the seller, Overton Moore Properties, along with Erik Larson, Robin Dodson and John Minervini of the same firm.
DENVER — Plaza 7000 Office Building, a 72,314-square-foot property in Denver, has received a $2.6-million refinancing. The building is located at 7000 E. Belleview Ave. It is situated two blocks west of the interchange between I-25 and E. Belleview Avenue. The loan features a 10-year term and a 25-year amortization schedule. The loan was arranged for an affiliate of DPC Development Company by Steve Bye and Mark Lindgren of NorthMarq Capital’s Denver regional office.