DALLAS — HFF has arranged the sale of a 14-building, 1.4 million-square-foot industrial portfolio in Dallas on behalf of Cobalt Capital Partners LP. The property, which is 96 percent leased to 28 quality tenants with an average remaining term of six years, was originally purchased by the seller between 2003 and 2007. HFF’s Randy Baird, Jud Clements and Robby Rieke represented the locally based Cobalt in the transaction.
FARMERS BRANCH, TEXAS — A Miami-area private investor has purchased Maxim Integrated Products Inc.’s fully leased, six-tenant flex building at 14540 E. Beltwood Parkway in the north Dallas suburb of Farmers Branch. The property is the fourth-to-last to be sold of the 13 buildings on 1.3 acres originally built by Maxim in 1979, before the company’s relocation north of LBJ Freeway. Cornerstone Assembly Church and North Dallas Fencers Club are among the property’s current tenants. Bradford Commercial Real Estate Services’ Leigh C. Richter represented Maxim in the deal, and Callahan Properties’ Rick Callahan represented the buyer.
GLENDALE, CALIF. – A 105,848-square-foot cold-storage warehouse that is occupied by Sprouts Farmers Market’s Southwest U.S. Distribution Warehouse has sold to WAM Glendale L.P. for $9.2 million. The warehouse is located at 5445 W. Missouri Ave. Sprouts is the only tenant at the facility. The grocer had been at the facility for 10 years. It recently renewed for an additional 10-year term. Marc Bonilla of Colliers International in Greater Phoenix represented both the buyer and the seller, FBL LLC, in this transaction.
SHAKOPEE, MINN. — Opus Development Co. LLC has acquired 50 acres of land in Shakopee to develop a 200,000-square-foot industrial warehouse and distribution facility. Construction on the speculative industrial facility will begin this fall, with completion slated for spring 2014. The property will be called Valley Park Business Center. Opus Development Co. will develop the project, Opus Design Build LLC will serve as the design-builder and Opus AE Group LLC as the architect and engineer.
BELLEVILLE, N.J. — Weichert Commercial Brokerage Inc. has arranged the sale of a 60,000-square-foot industrial building in Belleville, about five miles north of Newark. Scott Maynard, senior vice president at Weichert, represented the seller, a bank, and the buyer, Charles DeFranza, in the transaction. The industrial property is located at 335-353 Cortlandt St.
MIDDLETOWN, PA. — Woodmont Industrial Partners, in a joint venture with AEW Capital Management (AEW), has acquired Capital Business Center, a six-building, 1.5-million-square-foot industrial complex in Middletown. The center was acquired from an institutional owner in a transaction arranged by Michael Hines, Brian Fiumara and Brad Ruppel of CBRE National Partners. AEW acquired the property on behalf of AEW Partners VI. The venture plans to demolish two 1950-vintage, Class C buildings and construct the site with two LEED-certified, Class A warehouse facilities totaling 530,000 square feet. They also intend to make capital improvements to the other buildings in order to bring them up to current institutional standards. The center will also be renamed Capital Logistics Center. The CBRE team of Michael Hess, Patrick Lafferty and Bart Anderson will serve as leasing agents of the property.
HOUSTON — A joint venture between Panattoni Development Co. Inc. and LaSalle Investment Management Inc. has acquired a 125-acre parcel of land for industrial development located on North Gessner Road in northwest Houston. The development, known as Beltway Crossing NorthWest, will be used to develop 2 million square feet of primarily warehouse and distribution buildings with both speculative and build-to-suit projects. Stephen Schneidau and Dave Cook of Cushman & Wakefield negotiated the transaction. Schneidau will partner with Jim Foreman and Beau Kaleel of Cushman & Wakefield to lease the product.
RICHARDSON, TEXAS — Axiom Manufacturing has renewed its lease of 14,730 square feet of flex space at 1226 Exchange Parkway in Richardson. Janice Peters of Hudson Peters Commercial represented the landlord, Park North Service Center Ltd., in the transaction. George Tanghongs and Brett Lewis of Lee & Associates represented the tenant.
COLUMBUS, OHIO — Garrison Investment Group has acquired 10 industrial properties located in Columbus. The portfolio includes 772,206 square feet with three of the buildings situated in the 2600 block of Fisher Road in Columbus’ West submarket. The other seven are located close to a trio of facilities that Garrison purchased last fall. Buildings in the portfolio range in size from 19,764 square feet to 391,000 square feet. Westmount Realty Capital LLC is managing the new portfolio.
NEW YORK CITY— Manhattan-based Hudson Realty Capital LLC has funded a $4.7 million first-mortgage loan secured by a two-building industrial portfolio in Brooklyn. Proceeds from the loan will be used for the acquisition, redevelopment and repositioning of the 27,000-square-foot-property. The portfolio, located in Brooklyn’s Prospect Heights neighborhood, is in proximity to retail centers, public transportation, public and private schools and medical facilities.