DALLAS — Developer Billingsley Co. has leased 25,087 square feet of warehouse space in northern Dallas to Ultravision International, which manufactures, installs, finances and maintains LED displays. The property, located at 4542 McEwen Road, is within Billingsley’s Metropolitan Distribution District industrial development, which totals 684,451 square feet north of Interstate 635 and east of the Dallas North Tollway. Richmond Collinsworth of TIG represented the tenant, which will occupy the space by the end of this March.
MEDLEY, FLA. — Seaboard Marine has signed a 267,400-square-foot industrial lease renewal, which features a 64,000-square-foot expansion, at Prologis Palmetto Tradeport in Medley. Seaboard Marine’s lease term is for 10 years at 8001 N.W. 79th Ave. Seaboard Marine is PortMiami’s largest and most active cargo operator and freight transporter. Jonathan Kingsley of Jones Lang LaSalle represented Seaboard Marine in the lease transaction. Brian Smith of Cushman & Wakefield represented the landlord, Prologis.
GREENVILLE, OHIO — Precision Fab Inc. (PFI) has signed a lease to occupy an 87,000-square-foot manufacturing facility in Greenville, located about 40 miles northwest of Dayton, Ohio. PFI builds metal racking for the automotive industry and has serviced Toyota, Honda, BMW and the Big 3. Tim Echemann of Industrial Property Brokers arranged the transaction.
NEW YORK CITY — Cushman & Wakefield has arranged the sale of JFK Airgate, a four-building industrial and office property totaling 229,000 square feet, and an adjacent parcel in Queens for $53.1 million. The estimated stabilized cap rate of the property is 5.3 percent, according to San Francisco-based Terreno Realty Corp, which purchased the property. JFK Airgate, located approximately one-half mile north of John F. Kennedy International Airport, is 98.6 percent leased to 18 tenants, including some of the largest international air cargo and logistics firms. The 65,000-square-foot Airgate I is a warehouse with 14 dock-high and three grade-level loading positions and parking for 56 cars at 151-02 132nd Ave. Airgate II is also a warehouse that spans 66,000 square feet with 12 dock-high and three grade-level loading positions and parking for 76 cars at 150-10 132nd Ave. The 73,000-square-foot Airgate III is a distribution building with 18 dock-high and one grade-level loading positions and parking for 138 cars at 152-02 Baisley Blvd. Airgate IV is an office building spanning 25,000 square feet and includes parking for 58 cars at 152-01 133rd Ave. The 0.2-acre paved parcel includes parking for 27 cars at Baisley Boulevard and 132nd Avenue. Andrew Merin, …
ELGIN, ILL.— Chicago-based real estate investment firm Bridge Development Partners LLC has sold its 319,043-square-foot industrial facility in suburban Chicago to Boston-based TA Associates for $20.2 million. The property, which is located at 2700 Alft Lane at Randall Crossings Business Park in Elgin, features 30-foot clear ceiling heights. Jeff Devine and Steve Disse of Colliers International, as well as Ken Franzese and John Cassidy of Lee & Associates, represented Bridge and its capital partners, Wanxiang America Real Estate Group and Hunt Realty Investments Inc., in the transaction.
BELLEFONTAINE, OHIO — A Dublin, Ohio-based plastic injection mold manufacturer has acquired a 33,000-square-foot industrial facility at LCG Commerce Park in Bellefontaine, located about 55 miles northwest of Columbus. M3/IEG has plans to move into the new location by the end of February or beginning of March. Link Construction will retrofit the restrooms and office space, update the sprinkler system and add a few doors. Tim Echemann of Industrial Property Brokers arranged the leasing transaction.
NEW YORK CITY — Wenner Bread Products has signed a 72,000-square-foot lease renewal at 2001 Orville Drive in Bohemia, a community in Long Island. The building at 2001 Orville Drive is a 72,000-square-foot property that offers access to the Long Island Rail Road, Long Island Expressway and MacArthur Airport. Rechler Equity Partners owns the property. Wenner Bread Products is a maker of breads and frozen dough for supermarket bakeries and restaurants. Chuck Tabone, managing principal of Newmark Grubb Knight Frank’s Long Island office, represented the tenant in the transaction.
EL PASO, TEXAS — Henry S. Miller Brokerage has arranged the sale of an 18,750-square-foot industrial property in El Paso. Built in 2006, the warehouse facility features 1,320 square feet of office space, metal construction, two dock-high doors and heavy three-phase power. Local businessman Jesus Velasquez purchased the property from Wells Fargo Bank NA. Tom Grunnah and Rick Stoes of Henry S. Miller represented the seller in the transaction. Jose Loya of Exit West Realty represented the buyer, who will use the property as a distribution center.
ADDISON, TEXAS — Holt Lunsford Commercial has arranged a 9,403-square-foot flex space lease in the northern Dallas suburb of Addison. The larger property, Addison Tech Center, is located at 4505 Excel Parkway, in close proximity to Addison Airport, Dallas North Tollway and President George Bush Turnpike. Josh Barnes and Lauren Halstedt with Holt Lunsford represented the landlord in the negotiations. Mike Gravitt of Mike Gravitt & Co. represented the tenant.
FOUNTAIN INN, S.C. — Cushman & Wakefield | Thalhimer has arranged a lease renewal of 168,087 square feet at 111 Southchase Blvd. in Fountain Inn, about 20 miles southwest of Greenville, S.C. Charles Whitmire, Brian Young and Chris Norvell of Cushman & Wakefield | Thalhimer represented the tenant, Caterpillar Inc., in the lease deal.