LAUDERHILL, FLA. — Lauderhill Industrial Portfolio, a three-building small bay warehouse portfolio in Lauderhill, has sold for $2.4 million. The portfolio totals 102,641 square feet and was 57 percent occupied at the time of transaction. The buyer was a Plantation, Fla.-based private investor, and the seller was a Miami-based limited liability company. Douglas Mandel and Greg Zeifman of Marcus & Millichap represented both parties. The portfolio is located at 1711 N.W. 38th Ave. in Lauderhill.
WARREN, MICH.– Signature Associates has negotiated the lease of 55,000 square feet of industrial space to WR America Logistics. The building is located at 26155 Groesbeck Highway in Warren. Peter Walocko, Joe Hamway and Ben Wilkiemeyer of Signature Associates represented the landlord, Fairlane Tool Co., in the transaction.
PORTLAND, ORE. – An 84,000-square-foot industrial warehouse in Portland has received $2.8 million in first-mortgage refinancing. The single-tenant building is located at 7320 NE 55th Ave. It is occupied by Sapa Profiles. The loan boasts a 10-year term and a 20-year amortization schedule. Financing was arranged by Stuart Oswald of NorthMarq’s Seattle office on behalf of Skyport Properties, LLC. The funds were arranged through the firm’s relationship with a correspondent life company lender.
WIXOM, MICH. — West Tech Development has acquired a 31,152-square-foot industrial property at 46925 W. Road in Wixom. Bruce Morrison and Steve Gordon of Signature Associates represented the seller, Bank of America, in the transaction. Jim Montgomery, also of Signature Associates, represented the buyer.
KUTZTOWN, PA. — A joint venture between Woodmont Industrial Partners and AEW Capital Management has acquired a 385,000-square-foot industrial property in Kutztown for $21.3 million. The distribution center, located at 9747 Commerce Circle, is fully leased to Teva Pharmaceutical USA Inc., Hearth & Home Technologies and Palram Industries. The property is located within the 250-acre Arcadia West Industrial Park. Paul Torosian, John Plower and Gary Gabriel of Cushman & Wakefield represented the seller, a joint venture between Endurance Real Estate Group and Thackeray Partners, in the transaction.
DALLAS — EastGroup Properties has acquired five multi-tenanted warehouse/distribution centers totaling 722,000 square feet in the Valwood Industrial Park in Dallas. The total investment, including first-year capital improvements and lease-up costs, is $41.55 million. The properties are 95 percent leased out to 15 customers. EastGroup also purchased 4.1 acres of adjacent land for future development. The properties are anticipated to generate an annualized 6.3 percent cash yield.
CHICAGO — Summit Design + Build has broken ground on a new 8,500-square-foot food processing facility for Upton's Naturals in Chicago. The building is under construction on a vacant site at 2054-58 Grand Ave. in the city's West Town neighborhood. Upton's Naturals is a Chicago-based vegan natural foods company, and the firm will be relocating to the new facility from 1939 W. Fulton. UrbanLand is the project architect and U.S. Bank provided the financing for the project. Completion is scheduled for late June 2013.
AUSTIN — PS Business Parks has acquired three multi-tenanted flex properties in Austin totaling 226,000 square feet for $14.9 million. The properties are 86.1 percent leased to companies with an average customer size of 21,600 square feet. PS Business Parks owns more than 1.7 million square feet of space in Austin, which was 95.8 percent leased prior to this transaction.
FULLERTON, CALIF. — B/E Aerospace has signed a 10-year lease for a 91,116-square-foot building in Fullerton. The expansion lease is valued at $5.1 million. The facility is located at 1400 S. Manhattan Ave. The new space will allow the company to build 20,000 square feet of new office and engineering space. B/E Aerospace was represented by Jeff Bethel of Lee & Associates’ City of Industry office. The landlord, 1400 Manhattan Properties, LLC, was represented by Clyde Stauff of Colliers.
MIAMI — W.P. Carey & Co. LLC has sold a 209,000-square-foot industrial and office property that houses B/E Aerospace to UBS for $26 million. The property includes a 156,820-square-foot bulk warehouse and a three-story, 52,180-square-foot office building. It was built in 2000 and is located at 1000 and 10000 N.W. 15th Terrace within International Corporate Park in Miami’s Airport West/Doral submarket. Charles Foschini, Christian Lee and Christopher Apone of CBRE’s South Florida office and Chris Riley and Brian Budnick of CBRE’s Atlanta office represented W.P. Carey & Co. in the transaction.