REDMOND, WASH. – A 210,321-square-foot FedEx industrial property in Redmond has received $39 million in acquisition financing. The ground distribution facility is the largest industrial building in Redmond. It is leased to a subsidiary of FedEx Corporation. The loan boasts a 20-year term, a 20-year amortization schedule and a sub-4 percent interest rate. It was provided by State Farm Life Insurance. Financing was arranged by Mike Wood of NBS Financial Services.
Industrial
SUNNVALE, SANTA CLARA, CALIF. — Invesco Real Estate has acquired the Central Silicon Valley Industrial Portfolio for an undisclosed sum. The portfolio contains four Class A warehouse and manufacturing buildings totaling 312,110 square feet in Sunnyvale and Santa Clara. The acquisition includes 2940-2990 Mead Ave., 2855-2865 Uranium Drive and 3000-3008 Kifer Road in Santa Clara, as well as 123-127 Uranium Drive in Sunnyvale. The two multi-suite manufacturing buildings and two distribution warehouse buildings are situated on the border of Santa Clara and Sunnyvale. They are located one block from Bowers Avenue near the Lawrence Expressway. All four fully leased buildings have direct access to US Highway 101, the Central Expressway and Interstate 280. The seller, AEW Capital Management, was represented by CBRE’s Joseph Moriarty, Russell Ingrum, Sean Sullivan, Tyler Meyerdirk, Darla Longo, Barbara Emmons, Rebecca Perlmutter and Brian Matteoni. AEW sold the property on behalf of an institutional client.
MIDWAY, GA. — Pacific Global Logistics Inc. (PACTRA) has signed a 502,824-square-foot lease at Tradeport East Building A in Midway, approximately 30 miles southwest of Savannah. PACTRA is a third-party logistics company for Hankook Tire America Corp., a subsidiary of Hankook Tire Co. Ltd. The lease brings the LEED Silver-certified building to full occupancy. The company plans to use the space for administrative work, as well as the storage and distribution of tires and related products. Other tenants in the Tradeport Business Park include Target, Tire Rack and Firth Rixon. Bryan Sohn of Atlanta Realty Advisors represented PACTRA in the lease transaction. The landlord, IDI, was represented in-house by Lisa Ward, along with Cliff Dales of Colliers International.
RALEIGH, N.C.— Cushman & Wakefield | Thalhimer has arranged the sale of Gresham Lake Distribution Center, a 235,404-square-foot industrial building located at 3401 Gresham Lake Road in Raleigh. Meridian Development Group purchased the 56 percent leased property for $9 million. Chris Norvell and Scot Humphrey of Cushman & Wakefield | Thalhimer’s capital markets group represented the seller, Roper Investments LLC, in the transaction. Cushman & Wakefield | Thalhimer was also awarded the leasing assignment for the marketing of the property, which Jackson Rives will lead.
SHREVEPORT, LA. — G. Archer Frierson III and Cecile Coutret of Vintage Realty Co. negotiated the sale of a 36,000-square-foot industrial building in Shreveport for more than $1 million. The buyer was Dallas-based Cardinal Capital Partners. Frierson and Coutret also negotiated a 10-year lease of the facility to P-Americas LLC, a wholly owned subsidiary of PepsiCo Inc.
GRAND PRAIRIE, TEXAS — Lee & Associates has brokered the sale of a 20,150-square-foot industrial building in the Dallas/Fort Worth suburb of Grand Prairie. The facility is located at 1610 111th St., approximately 15 miles west of downtown Dallas. Mark Graybill of Lee & Associates represented the buyer, Trident Commercial Partners. The seller, Grand Prairie Ventures, was represented internally by Sarah Hart.
DALLAS — Hudson Peters Commercial has brokered the sale of an 18,160-square-foot industrial building in Dallas. The facility, located at 12500 Schroeder Road, features two dock-high doors and two grade-level doors, as well as proximity to Interstate 635 and State Highway 75. Scott Jackson of Hudson Peters represented the buyer, G G Squared LLC, in the transaction. Stephen Cooper and Chad Albert of NAI Robert Lynn represented the seller.
MESQUITE, TEXAS — NAI Robert Lynn has arranged a 189,492-square-foot lease of office/warehouse space for Senox Corp. in the western Dallas suburb of Mesquite. The tenant, a manufacturer of roof accessories such as gutters, will occupy the entire facility, which is located at 227 S. Town East Blvd. Stephen Cooper and Mark Miller of NAI Robert Lynn represented the tenant in the negotiations, while David Lachoff of Newmark Grubb Knight Frank represented the landlord.
IRVING, TEXAS — The Richland Companies has leased 34,056 square feet of flex space in Irving to Flowserve Corp., a manufacturer of pumps, valves and seals for the energy and chemical industries. The facility, located at 4343 W. Royal Lane in the Las Colinas submarket, serves multiple tenants with a total footprint of 80,500 square feet. Jon Altschuler of Altschuler & Co. represented the landlord, The Richland Companies. Kelly Kackley of Jones Lang LaSalle represented the tenant.
SUNNVALE, SANTA CLARA, CALIF. — Invesco Real Estate has acquired the Central Silicon Valley Industrial Portfolio for an undisclosed sum. The portfolio contains four Class A warehouse and manufacturing buildings totaling 312,110 square feet in Sunnyvale and Santa Clara. The acquisition includes 2940-2990 Mead Ave., 2855-2865 Uranium Drive and 3000-3008 Kifer Road in Santa Clara, as well as 123-127 Uranium Drive in Sunnyvale. The two multi-suite manufacturing buildings and two distribution warehouse buildings are situated on the border of Santa Clara and Sunnyvale. They are located one block from Bowers Avenue near the Lawrence Expressway. All four fully leased buildings have direct access to US Highway 101, the Central Expressway and Interstate 280. The seller, AEW Capital Management, was represented by CBRE’s Joseph Moriarty, Russell Ingrum, Sean Sullivan, Tyler Meyerdirk, Darla Longo, Barbara Emmons, Rebecca Perlmutter and Brian Matteoni. AEW sold the property on behalf of an institutional client.