LONG ISLAND CITY, N.Y. — A 322,390-square-foot industrial building has sold for $40.7 million to two tenants-in-common entities. The three-story industrial property, which is managed by BLDG Management Co., is located at 47-25 34th St. in Long Island City, the westernmost neighborhood of New York City. Current tenants in the building include Polo Ralph Lauren, Gander and White and Eleni’s Bakery, among others. RFK Investment Sales and Advisory Services represented the seller, 4725-34 Associate LLC, and the buyer in the deal.
ENGLEWOOD, N.J. — Lee & Associates has closed the $9 million industrial sale of 330 S. Van Brunt St. in Englewood. Built in 1979, the single-tenant, net-leased facility is leased to DENTSPLY, a global manufacturer of affordable dental products. Michael Schaible of Lee & Associates represented the seller, Humphrey S. Lewis Urban Renewal Corp., Jeffrey Miller, also of Lee, represented the buyer, ITT Acquisitions LLC.
HOUSTON — Houston-based Dickson Furniture has opened a new 100,000-square-foot distribution center, located at 6000 S. Loop E. in Houston. Dickson Furniture has experienced 50 percent larger inventory with dozens of new products and is expecting even greater growth in the near future. The company will begin delivering furniture from the facility immediately.
HOUSTON — Moody Rambin has arranged the 173,000-square-foot lease of manufacturing space at 7150 Almeda Genoa Road in Houston. Jim Autenreith and Griff Jaggard of Moody Rambin represented the tenant, Applied Cryo Technologies (ACT), in the lease transaction. ACT will use the space to design and manufacture equipment for oil and gas companies. The facility is located 10 miles away from the Port of Houston.
OCEANSIDE, CALIF. – A 45,000-square-foot industrial property in Oceanside has sold to Precision One Ventures for $3.9 million. The property is located at 3923 Oceanic Drive. Precision One will occupy about 70 percent of the building. A new tenant signed a lease for the balance of the property during the transaction. Precision One was represented by Greg Pieratt and David Howard of Lee & Associates’ North San Diego County office.
ELKRIDGE, MD. — 6625 Selnick Drive LLC, an environmental engineering and consulting firm, has acquired a 30,000-square-foot industrial building at 6625 Selnick Drive in Elkridge for $2.3 million. The buyer will occupy a majority of the building, while leasing out the remainder. Alan Orman of Cassidy Turley represented the seller. Hayes Merkert of Cushman & Wakefield represented the seller, Bernstein Management Corp.
TROY, MICH. — Ride Control LLC has renewed its lease of 45,920 square feet of hi-tech space located at 950 Maplelawn Drive in Troy. John Boyd and Paul Hoge of Signature Associates represented the landlord, Troy Industrial LLC, and the tenant. Locally based Ride Control manufactures and supplies automotive shock absorbers and struts.
OCEANSIDE, CALIF. – A 45,000-square-foot industrial property in Oceanside has sold to Precision One Ventures for $3.9 million. The property is located at 3923 Oceanic Drive. Precision One will occupy about 70 percent of the building. A new tenant signed a lease for the balance of the property during the transaction. Precision One was represented by Greg Pieratt and David Howard of Lee & Associates’ North San Diego County office.
DENVER — JCR Capital and CapRock Partners have formed a $35-million equity joint venture to acquire industrial REO and distressed loans that are secured by industrial properties in California. The venture’s first acquisition was a 90,000-square-foot industrial property in Melrose Park Industrial Park in Placentia. The property will be financed through the JCR Commercial Real Estate Finance Fund II, L.P. and Soundview Real Estate Partners. This is the third joint venture facility between Denver-based JCR Capital and Irvine, Calif.-based CapRock Partners.
GREENVILLE, S.C. — Covington Group has purchased five warehouse buildings, totaling 682,000 square feet, in South Carolina as part of the company's expansion into new markets. The deal included two buildings off Augusta Road in Greenville and three buildings off Highway 14 in Greer, S.C. Covington plans to upgrade the facilities and rebrand them as Logistics Pointe, Greenville and Logistics Pointe, Greer. The buildings included approximately 270,000 square feet of vacant space. The company also recently entered the Illinois market, acquiring a 502,500-square-foot industrial building in Sauget, Ill.