ATLANTA — McDonald Development Co. has sold two Class A bulk warehouse and distribution buildings totaling 850,000 square feet within SouthPark Business Park in Atlanta’s Airport/South Atlanta submarket to LaSalle Investment Management Inc. The industrial sale includes the 400,000-square-foot SouthPark 4600, which is leased to FedEx SmartPost, a subsidiary of FedEx Corp. It also includes the 450,000- square-foot SouthPark 3100, which is leased to BrandsMart USA, a consumer electronics and appliance retailer. Stewart Calhoun, David Meline, Samir Idris, Casey Masters and Darice Fichter Rose of Cushman & Wakefield represented McDonald Development Co.
CHEEKTOWAGA, N.Y. — Summer Industries has acquired the former GT/Schwinn Bicycle office, warehouse and distribution facility in Cheektowaga for $2 million. The facility is 84,070 square feet. Summer Industries manufactures tubes, cores and canisters made from recycled paperboard. Eric Tudor and Particia Collins of Coldwell Banker Commercial represented the seller in the transaction. Peter Jaremka of JR Militello Realty represented the buyer.
GARDEN GROVE, CALIF. – A 125,000-square-foot industrial building in Garden Grove has sold to Ranger West Two, LLC for $12.7 million. It is located at 12101 Western Ave. Ranger West was represented by Peter Castleton of Voit Real Estate Services and Todd Clarke of Kidder Matthews. The seller, 12101 LLC, was represented by Tim Arguello of Lee & Associates – Newport Beach.
FONTANA, CALIF. – A 111,419-square-foot industrial building in Fontana has sold to Molto Capital, LLC for $7.8 million. The Class A building is located at 13508 Marlay Ave. It includes 4,000 square feet of office space. Molto was represented by Brad Yates, Richard Schwartz and Stefan Pastor of Colliers International. The seller, C.H. HU Corporation, an ownership entity of Organize It All, represented itself in this transaction.
SMYRNA, GA. — Minneapolis-based Meritex, a private real estate investment and management company, has acquired a 61,884-square-foot office and warehouse property at 5080 Highlands Pkwy. in Smyrna through a joint venture with a major institutional investor. The Class A industrial space is fully leased. Meritex is the managing partner and will manage the Highlands property on behalf of the joint venture. Resource Real Estate Partners LLC represented Meritex in the acquisition.
SOUTHAVEN, MISS. — S-L Distribution Co. Inc., the distribution arm of Snyder’s-Lance Inc., has signed a 26,757-square-foot lease at Airways Distribution Center in Southaven. The 205,650-square-foot industrial property is in the greater Memphis, Tenn. distribution market. Patrick Burke, Bobby Daush and Jim Mercer of CBRE represented S-L Distribution Co. and CBRE’s Tim Moore represented the landlord, IDI. Snyder’s-Lance Inc. is a manufacturer and marketer of snack foods.
LEHIGH VALLEY, PA. — Clarion Partners Property Trust has acquired an ownership interest in Lehigh Valley South, a 315,000-square-foot warehouse and distribution facility in Lehigh Valley, for $9.8 million. The property was constructed in 2008 and is fully leased to two tenants on a triple-net basis.
SHARON, MASS. — IDI Distributors, a nationwide supplier of fiberglass and sprayfoam, has leased 32,995 square feet of industrial space at 1245 Providence Highway in Sharon. The company will relocate its Massachusetts distribution operation to the new space. CBRE Group represented the tenant in the transaction. Cathy Minnerly and Ovar Osvold of NAI Hunneman represented the landlord, John D. Murphy Co., in the transaction.
DALLAS AND ARLINGTON — NorthMarq Capital has arranged $5.6 million in acquisition financing for a portfolio of four industrial buildings located in Dallas and Arlington. The portfolio spans 240,000 square feet. Phillip Bankhead of NorthMarq's Dallas office arranged the 20-year loan to amortize over 20 years through a life insurance company.
ALLEN — Twin Creeks Business Center, a three-building, 180,000-square-foot industrial property at 1307 N. Watters Road in Allen, is nearly fully occupied after adding a tenant. Associated American Industries Inc. has signed a 21,027-square-foot lease for flex space at Building 200, becoming the building's first tenant. Susan Singer and Michael Grant of Bradford Commercial Real Estate Services/CORFAC International represented the landlord, Twin Creeks Warehouse Ventures LP, in the lease transaction. Natalie Snyder, Sharon Morrison, Nora Hogan and Robert Deptula of Transwestern Dallas represented the tenant.