BETHLEHEM, PA. — Joint venture partners Trammell Crow Co. and Clarion Partners have broken ground on a 677,088-square-foot, Class A speculative industrial building in Pennsylvania’s Lehigh Valley industrial market. The building is scheduled for completion in spring 2014. The project is located on a 40-acre site within Lehigh Valley Industrial Park VII, a master-planned business complex in Bethlehem, an eastern suburb of Allentown. The building will feature 32-foot clear ceiling heights, 190-foot deep truck courts and ample parking. Joseph McDermott and Vincent Ranalli of CBRE will serve as the leasing team for the project. The building is located at 2485 Commerce Center Blvd.
RICHARDSON, TEXAS — Citadel Partners has arranged a 45,732-square-foot lease in Cardinal Park 7 in Richardson. The property is located at 1705 N. Plano Road. Scott Morse and Scott Jessen of Citadel Partners represented the tenant, Electronic Transaction Consultants, in the lease transaction. Byron McCoy and Josh Barnes of Holt Lunsford Commercial represented the landlord.
COMMERCE, CALIF. — A 202,838-square-foot industrial building in Commerce has sold to the Ryzman Family Trust for $17 million. It is located at 1935-1965 Tubeway Ave. The facility was built in 1965 and remodeled in 1994. Ryzman was represented by Jack Cline and Jeff Bethel of Lee & Associates’ Los Angeles – Central office. The seller, Ronald S. Bauer, trustee of the Ronald S. Bauer Living Trust, was represented by Michael Tsaparian of the same office.
COMMERCE, CALIF. — A 202,838-square-foot industrial building in Commerce has sold to the Ryzman Family Trust for $17 million. It is located at 1935-1965 Tubeway Ave. The facility was built in 1965 and remodeled in 1994. Ryzman was represented by Jack Cline and Jeff Bethel of Lee & Associates’ Los Angeles – Central office. The seller, Ronald S. Bauer, trustee of the Ronald S. Bauer Living Trust, was represented by Michael Tsaparian of the same office.
AUSTIN, TEXAS — CBRE has brokered the sale of Austin Industrial Park and Wall Street Business Park, two complexes totaling 163,750 square feet, to Industry Capital Advisors LLC. Austin Industrial Park is a 93,750-square-foot, 54-unit complex located at 5214 Burleson Road in Austin’s Southeast submarket. The property is currently 84 percent occupied. Wall Street Business Park is a 70,000-square-foot, 44-unit complex located at 8900-8906 Wall St. within the Walnut Creek Business Park in Austin. The property is currently 81 percent occupied. Mark Emerick and John Barksdale of CBRE represented the seller, RLA Real Estate.
HOUSTON — Cobalt Industrial REIT III has purchased a 96,285-square-foot warehouse facility at 14516 Heathrow Forest Parkway. John Ferruzzo of NAI Houston and Michael Morgan of Interstate Tenant Advisors represented the seller, Primesource Building Products, in the transaction. Ed Bane and Jon Michael, also of NAI Houston, represented the buyer.
SOUTH CAROLINA — Reger Holdings has purchased a five-property portfolio of South Carolina industrial buildings for $8.6 million. The portfolio contains 349,000 square feet of space. The properties comprise 1001, 1005 and 1025 Technology Court in West Columbia; 103 Lachicotte Road in Lugoff; and 7421 E. Spartan Blvd. in North Charleston. With this purchase, Reger Holdings now controls nine industrial buildings in South Carolina totaling 710,000 square feet of space. Chuck Salley and Dave Mathews of Colliers International represented the buyer in the deal. The seller’s name was not disclosed.
MOUNT PROSPECT, ILL. — KTR Capital Partners has purchased 1660 Wall Street, a 108,732-square-foot warehouse/distribution building in Mount Prospect, located about 22 miles northwest of Chicago. Situated at the intersection of Algonquin and Elmhurst roads, the building is part of The Alter Group’s Lake Center Corporate Park. The property features 30-foot ceilings, 19 exterior truck docks, two drive-in doors and 16 trailer parking stalls. EnTrust Realty Advisors LLC, an affiliate of The Alter Group, was the seller. The purchase price was undisclosed.
EDISON, N.J. — NorthMarq’s Boston office has arranged a $14.2 million first mortgage loan for the refinancing of an industrial portfolio in Edison. The properties are located at 300 Columbus Circle and 400 Raritan Center and total 204,440 square feet. Financing was based on a five-year term and includes a 25-year amortization schedule. NorthMarq arranged this financing for the borrower, High Street Equity, through a life insurance company lender.
ST. LOUIS, MO. — Plumbers Supply Co. (PSC) has purchased a 51,000-square-foot building located at 4500 Swan Ave. in St. Louis for $975,000. PSC will move from its current 30,000-square-foot headquarters at 6135 Horton Place in University City to its new location in September. Jake Shepley of Hilliker Corp. represented the buyer.