PORTLAND, ORE. – A trio of self-storage facilities throughout the Pacific Northwest has received $9.3 million in refinancing. They include South Medford Self Storage in Medford, Ore.; Iron Gate Storage in Beaverton, Ore.; and Iron Gate Mega Storage in Vancouver, Wash. The storage facilities contain a total of 160,000 square feet. Financing was secured by Peter Norrie of Cohen Financial’s Portland office. It was provided by a Midwestern life insurance company.
ASTON AND BENSALEM, PA. — Miller Investment Management and Hayden Real Estate Investments, partners in MIM-Hayden Real Estate Funds, have acquired five industrial properties, located along the Interstate 95 corridor in Aston and Bensalem, for $35 million. The acquired assets include 105 Commerce Drive, along with 20 and 30 McDonald Blvd. and an 18-acre development parcel, which are located in the I-95 Campus Industrial Park in Aston, about 25 miles southwest of Philadelphia. MIM-Hayden also acquired 3600 Progress Drive, located in the Expressway 95 Business Park in Bensalem, about 20 miles northwest of Philadelphia. The existing buildings total 961,347 square feet of industrial space.
PORTLAND, ORE. – A trio of self-storage facilities throughout the Pacific Northwest has received $9.3 million in refinancing. They include South Medford Self Storage in Medford, Ore.; Iron Gate Storage in Beaverton, Ore.; and Iron Gate Mega Storage in Vancouver, Wash. The storage facilities contain a total of 160,000 square feet. Financing was secured by Peter Norrie of Cohen Financial’s Portland office. It was provided by a Midwestern life insurance company.
MACOMB TWP., MICH. — Nylok Corp. has renewed its 42,360-square-foot industrial lease at 15260 Hallmark Court in Macomb Twp., a northern suburb of Detroit. Kris Pawlowski and Paul Saad of Signature Associates represented both the landlord, Wolf Industrial III LLC, and the tenant, Nylok Corp. Under the umbrella of Berkshire Hathaway, Nylok has registered more than 150 patents on a number of different fasteners. This is more than any other company in their field.They service the automotive, aerospace, military and agricultural industries around the globe.
NEW YORK CITY — Building 77, a 1 million-square-foot warehouse building at the Brooklyn Navy Yard, will undergo an $80 million renovation. The 16-story former ammunition depot will be transformed into a modern, sustainable hub for manufacturing and technology innovation. The reuse of the building will result in the creation of up to 1,500 new jobs at the Navy Yard during the next five years. Brooklyn Navy Yard Development Corp. will lease 240,000 square feet to Jack Basch, a Brooklyn-based developer and entrepreneur. Basch is the owner and CEO of Shiel Medical Laboratories. Shiel will occupy at least one floor, approximately 60,000 square feet. Basch will sub-lease the rest of the space to other high-tech industrial and medical-service companies. Construction is set to begin in spring 2013 and will last about 18 months.
NEW YORK CITY — A one story, 4,830-square-foot warehouse at 2460 Rowe St. in New York City has sold for $785,000. The building was constructed in 1969 and includes high ceilings and drive-in doors. Alan Shmaruk and Michael Sherman of Manhattes Group represented the seller and Ralph Tiseo of T and M Realty Group represented the buyer, which will operate a fuel business out of the warehouse.
FREMONT, CALIF. — Seagate Technology has announced plans to build a $180-million research and development complex at the former 411,618-square-foot Solyndra plant in Fremont. The company purchased the Class A facility in February for $90.2 million after Solyndra filed for bankruptcy. The building is located at 47488 Kato Road. The disk drive company plans to occupy the facility. Seagate was represented by Donald Reimann, Sean Toomey and Gregg Von Thaden of Colliers International. Solyndra was represented by Bart Lammersen, Greg Matter and Jason Ovadia of Jones Lang LaSalle in the all-cash sale.
LAWRENCEVILLE, GA. — RACO General Contractors has selected Lavista Associates to lease 25 distribution buildings totaling 2.4 million square feet at Gwinnett316 in Lawrenceville. Gwinnett316 is part of a 424-acre industrial development located off GA 316, and a few minutes from I-85. The properties, built sequentially from 1986 to 2001, house national and international tenants such as Lund International, Ryder Logistics and Sherwin-Williams Co. The park has distribution spaces available for lease from 7,800 square feet to 157,000 square feet, along with sites available for build-to-suit projects. Charlie Fiveash, Will Grogan, David Pope and Tom Hunter of LaVista will market the properties.
WEST COLUMBIA, S.C. — Columbia Industrial has sold the 273,280-square-foot UTi Integrated Logistics facility, located at 185 McQueen St. in West Columbia, for $9.6 million. The facility is leased by UTi, which specializes in supply chain services. Dail Longaker of NAI Avant represented the seller in the transaction.
DES PLAINES, ILL. — Midland Paper Co. has renewed and expanded its lease to 155,568 square feet of industrial space at 363 N. Third Ave. in Des Plaines. Kurt Sarbaugh, Robin Stolberg and Kris Bjorson of Jones Lang LaSalle represented Midland Paper in the deal. Midland Paper is an independently owned fine paper, packaging and supply systems distributor.