WINNSBORO, S.C. — Binswanger has brokered the $2 million sale of a single-story, 311,982-square-foot warehouse and distribution building, located at 392 U.S. Highway 321 Bypass North in Winnsboro, about 33 miles north of Columbia. Technology manufacturer Element Electronics plans to relocate its flat screen television operations from a facility in China to the Winnsboro site. The $7.5 million investment will create as many as 500 jobs within the next five years. The property features 27-foot clear ceiling heights, energy-efficient T5 lighting, 7,000 square feet of air-conditioned office space and 27 dock doors. David Barber of Binswanger’s Atlanta office and Shaun Kirchin of the firm’s Columbia, S.C. office represented the seller, Perry Ellis International Inc., in the transaction.
Industrial
TULSA, OKLA. — Monmouth Real Estate Investment Corp. has acquired a 46,260-square-foot industrial building in Tulsa for $3.7 million. The property, located at 2800 N. Garnett Road, is net-leased by The American Bottling Company. Parent company Dr Pepper Snapple Group Inc. guarantees the lease, which has 10.5 years remaining on its original 15-year term. The build-to-suit structure serves as a distribution center for various beverage brands.
DENVER — Swire Coca-Cola USA has leased a 257,000-square-foot building at Enterprise Business Center at Stapleton. The center is a Class A industrial park development in the Denver submarket of Stapleton. The company plans to open a new distribution center at the facility, which will be located near the southwest corner of Interstate 70 and Havana Street. Swire Coca-Cola is one of the largest Coca-Cola distributors in the United States. It is a subsidiary of Swire Pacific Ltd. The company plans to occupy the new space next May. Once completed, Enterprise Business Center will contain a total of 1.15 million square feet throughout five buildings. Swire Coca-Cola was represented by Joe Cantalamessa of Cantalamessa Partners. The landlord, United Properties, was represented by Mike Wafer and Tim D’Angelo of Newmark Grubb Knight Frank.
RENO, NEV. — Lake Washington Partners has acquired a 66-acre parcel withinSpanish Springs Business Center near Reno for an undisclosed sum. The company plans to execute a phased development that would include 1.5 million square feet of distribution/warehouse space. Construction is set to commence in 2014 with the development of 600,000 square feet of facilities.
ATLANTA — HFF has arranged $130 million in financing for an 11-property, 2.9 million-square-foot industrial portfolio located in five states. Mark Sixour of HFF’s Atlanta office arranged the financing on behalf of the borrower, Atlanta-based Industrial Developments International Inc. HFF placed a $99.8 million, three-year loan with Wells Fargo Bank and a $30.2 million mezzanine loan through AEW Capital Management. The portfolio has an average occupancy rate of 79 percent and its key tenants include Walgreen’s, L’OREAL, Menlo Logistics, Red Bull, Valspar and ADT Security. The properties include Greenspoint Business Center A, B and D in Houston (totaling 406,075 square feet); Madison Business Center A in Tampa, Fla. (385,619 square feet); Miramar Business Center F in Miramar, Fla. (63,010 square feet); Miramar Centre A in Miramar (264,074 square feet); Northpoint Industrial Center in Elizabeth, N.J. (342,705 square feet); Park South Building E in Walton, Ky. (678,363 square feet); Port Union Building J in Fairfield, Ohio (109,063 square feet); and Rock Run Business Park VIII and IX in Joliet, Ill. (692,241 square feet).
RENO, NEV. — Lake Washington Partners has acquired a 66-acre parcel within Spanish Springs Business Center near Reno for an undisclosed sum. The company plans to execute a phased development that would include 1.5 million square feet of distribution/warehouse space. Construction is set to commence in 2014 with the development of 600,000 square feet of facilities.
CARLSTADT, N.J. — Terreno Realty Corp. has acquired two industrial properties in Carlstadt for $9.9 million. Situated on 3.2 acres in the central Meadowlands submarket, the two industrial properties total 90,000 square feet. The 22,000-square-foot building is fully leased to one tenant and is located at 465 Meadow Lane. The 68,000-square-foot property, located at 341 Michele Place, is 95.6 percent leased to two tenants. The estimated capitalization rate of the properties is 5.7 percent. Terreno Realty Corp. is an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets — Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, D.C./Baltimore.
GARLAND, TEXAS — Brokerage firm Lee & Associates has arranged the lease of 26,926 square feet of industrial space in Garland, a northeast suburb of Dallas, for Allied Insulation & Supply Inc. The warehouse facility is located at 2729 Market St., which allows for easy access to Interstate 635. Property features include 18-foot clear height ceilings and five dock-high loading doors. Brett Lewis and Adam Graham of Lee & Associates represented the tenant in the negotiations. Stephen Cooper of NAI Robert Lynn represented the landlord, DCT Industrial.
FONTANA, CALIF. — REDA Bascom Ventures has purchased 16 acres of land in Fontana for an undisclosed sum. The joint venture between Real Estate Development Associates (REDA) and The Bascom Group plans to develop a 350,000-square-foot industrial/distribution building on the site. The land is located at 11100 Hemlock Ave. It sits adjacent to the JM Eagle Fontana manufacturing facility. REDA Bascom was represented by Kevin McKenna and Scott Sanders of Colliers International. The seller, JM Eagle, was represented by Rustin Mork, Anthony Dedeaux and Brett Dedeaux of Bingswanger Realty Advisors. REDA is currently looking for more development opportunities in the Inland Empire, Orange County and Los Angeles industrial markets.
DALLAS — Trammell Crow Co. and joint venture partner Prudential Real Estate Investors have broken ground on Trammell Crow Penn Distribution Center, a speculative industrial building totaling 823,379 square feet in southern Dallas County. The facility, to be located on 47 acres along I-20, will include 36-foot clear height ceilings and is designed for LEED certification. Construction is slated for completion in May 2014.