RIVERSIDE, MO. — Yanfeng USA Automotive Trim Systems, a Michigan-based subsidiary of Yanfeng Visteon, has announced its plans to construct a $45 million production facility in Riverside, a northern suburb. The new facility is expected to create 263 new local jobs. Construction on the 258,000-square-foot plant is set to start next month, and the facility is scheduled to become operational in early 2014. The manufacturing operation supplies parts to General Motors Co. and Chrysler Corp. The Riverside plant will manufacture interior trim components, such as door panels, floor consoles and instrument panels for the General Motors plants in Wentzville, Mo. and Fairfax, Kan.
HOPKINS, MINN. — Citrus Systems Inc., a privately owned, Minnesota-based manufacturer of packaged fruit juices and beverages, has signed a lease for 132,000 square feet of space at Cornerstone Business Center in Hopkins, a southwest suburb of Minneapolis. Citrus Systems will expand its operations by 50,000 square feet and relocate from its current facility at 125 Jackson Ave. this fall. With this lease, Cornerstone Business Center, a 222,194-square-foot, Duke Realty-owned and managed industrial building is fully occupied. Duke Realty’s in-house construction team will serve as general contractor for the build-out of Citrus Systems’ new space. Tom Bennett and Jack Tornquist of CBRE represented Citrus Systems in the transaction. Scott Moe, Brad Bohlman and Paul Bickford of Colliers International represented Duke Realty.
NORWALK, CALIF. — Ameripak Industries has signed a 62-month lease for a 72,000-square-foot building in Norwalk. The lease is valued at about $2 million. The space is located at 15500-15510 Blackburn Ave. The company will be relocating from nearby Pico Rivera. Ameripak was represented by CBRE’s Philip Christian, David Ellis, Josh Bonwell and Rick McGeagh. The landlord is Majestic Realty.
CHANDLER, ARIZ. — Gold Medal Gymnastics Academy has signed a seven-year lease for 24,492 square feet of office and warehouse space at Warner Commerce Park. The space is located at 455 E. Warner Road in Chandler. The new lease will bring the center to full occupancy once the academy opens in August. Gold Medal Gymnastics was represented by Andy Kroot and Christina Biagiolo of Velocity Retail Group in Phoenix. The landlord, Dalfen America Corp., was represented by Evan Koplan and Mike Parker of CBRE’s Phoenix office.
CHESTERFIELD TOWNSHIP, MICH. — EZ Industrial Solutions LLC has signed a lease for 24,105 square feet of industrial space in Chesterfield Township, about 30 miles northeast of Detroit. The building is located at 48750 Structural Drive. Ben Wilkiemeyer and Peter Walocko of Signature Associates represented the landlord, Vincent Palazzolo, in the transaction.
ORANGE, N.J. — Beech Street Capital has closed an $8.4 million Fannie Mae conventional loan for the acquisition of South Orange Towers, a 108-unit mid-rise apartment building in Orange, a western suburb of New York City. The fixed-rate loan has a 10-year term, with 2.5 years of interest-only payments, seven-year yield maintenance and a 30-year amortization schedule. South Orange Towers is 99 percent occupied and includes a pool. The borrower plans to make substantial renovations, including replacing windows, renovating kitchens and retiling and refitting baths. Avi Weinstock and Josh Rhine of Meridian Capital Group LLC originated the transaction, which was financed by Beech Street Capital.
NEWTON, N.J. — NAI James E. Hanson has arranged the sale of a 109,751-square-foot industrial complex at 75 Mill Street in Newton, located about 45 miles east of Newark, for $1.4 million. The seller was Newton Industrial Park LLC. The buyer, Darlington Heritage Properties LLC, intends to hold the site for investment purposes. The two-story property includes 21 units with ceiling heights totaling 15 feet, five tailgates and one drive-in door. Sig Schorr and Joseph Vindigni of NAI Hanson represented both parties in the transaction.
GARLAND, TEXAS — Marcus & Millichap has arranged the sale of a 336,499-square-foot manufacturing and distribution facility for $10.7 million in Garland. The property is net-leased to Apex Tool Group and is located at 3000 W. Kingsley Road. John Glass of Marcus & Millichap's San Francisco office, along with James Bell of the firm's Houston office, represented the seller in the transaction. Glass and Scott Pertel, also of Marcus & Millichap's San Francisco office, represented the buyer. The facility is expected to be upgraded with a new roof this year.
GLENDALE, CALIF. – A 473,345-square-foot industrial complex in Glendale has sold to Rexford Industrial for $56.2 million. The institutional-quality complex is located at 3332-3424 North San Fernando Road and 3550 Tyburn Street. It contains seven buildings spread out among 21 acres. It is fully leased to tenants like Staples, Anderson Printing, Nordstrom and Pep Boys. In addition to the industrial component, the complex also contains two retail frontage buildings. Steve Silk, Jay Borzi and Adam Pastor of Eastdil Secured represented both the buyer and the seller, a non-disclosed institutional owner, in this transaction.
BAYONNE, N.J. — Hollister Construction Services has completed the renovation of a 150,000-square-foot industrial facility in Bayonne, located about 10 miles south of New York City. CenterPoint Properties, a developer, owner and manager of industrial real estate, owns the property. Jersey City, N.J.-based Star Snacks Co., a snack nut products manufacturer, will relocate its distribution facilities to the renovated warehouse, located at 30 Pulaski St. Cortland Morgan Architects were the architects.