LAKE WORTH, FLA. — BEB Lending has provided a $9.7 million loan for the acquisition of an industrial property located at 1800 Hypoluxo Road in Lake Worth, a city in South Florida’s Palm Beach County. The 77,657-square-foot property is leased to a mix of small-bay and self-storage industrial tenants. Sean Silverbrook of BEB originated the 24-month bridge loan. Juda Hersh represented the borrower, Hersh Equity Group (HEG), on an in-house basis.
DALLAS — Lee & Associates has brokered the sale of a 148,538-square-foot industrial building in southwest Dallas. The building at 5050 Investment Drive was originally constructed in 1978 and features 21- to 24-foot clear heights. Colton Rhodes and Stephen Williamson of Lee & Associates represented the buyer, Boston-based Longpoint Realty Partners, in the transaction. The seller was an entity doing business as IMCD US. The sales price was not disclosed.
TEXAS CITY, TEXAS — Marcus & Millichap has brokered the sale of a 36,500-square-foot manufacturing facility in Texas City, about 40 miles southeast of Houston. The building was constructed on 3.5 acres at 101 N. Highway 146 in 1972 and most recently renovated in 2022. Adam Abushagur and Max Lozmack of Marcus & Millichap represented the undisclosed seller and former occupant of the building in the transaction. The buyer and sales price were not disclosed.
SOUTH BRUNSWICK, N.J. — Mesa West Capital has provided a $53.5 million construction loan for Bridge Point 99, a 291,578-square-foot industrial project in South Brunswick, located north of Trenton in Central New Jersey. The site at 999 Cranbury South River Road spans 26.6 acres. The rear-load building will feature a clear height of 40 feet, 47 loading doors, two drive-in doors, 130-foot truck court depths and parking for 49 trailers and 181 cars. Delivery is slated for the second quarter. Steve Roth and Ryan Kieser of CBRE arranged the debt on behalf of the borrower, Bridge Industrial.
NEW YORK CITY — New York-based ERG Commercial has arranged a $7.5 million bridge loan for the refinancing of a vacant, 40,000-square-foot industrial property on Staten Island. The site at 501 Industry Road spans nine acres and was originally built in 1975, according to propertyshark.com. Ryan Lewis and Matthew Murphy of ERG Commercial arranged the loan. The direct lender and borrower were not disclosed.
GAHANNA, OHIO — Brinkmann Constructors has completed a 291,400-square-foot speculative warehouse in Gahanna, a northeast suburb of Columbus. Scannell Properties was the developer, and Ford & Associates served as the architect. Located in Eastgate Logistics Center, Gahanna Building A features a clear height of 32 feet, two drive-in bays, 180 standard parking spaces and 30 exterior docks.
DENVER — Newmark has arranged the sale of an industrial property located at 1305 Osage St. in Denver. Osage Studios LLC acquired the asset from GSW Ventures LLC for $2.1 million. Mike Viehmann and Mike Wafer Jr. of Newmark represented the seller, while Gruber Commercial Real Estate represented the buyer in the deal.
JACKSONVILLE, FLA. — A joint venture between PCCP LLC and Midwest Industrial Funds is underway on the development of a 337,000-square-foot speculative industrial building within Westlake Industrial Park in Jacksonville. Situated on 33 acres on Pritchard Road, the property will feature 36-foot clear heights, a 190-foot truck court, 72 dock-high doors, 245 car parking spaces and 97 trailer parking spots. Construction has begun on the project, and completion is scheduled for this December.
SAVANNAH, GA. — JLL has arranged the sale of an industrial portfolio totaling 853,019 square feet across three facilities in Savannah — North Gate Buildings 1, 2 and 3. Located near the Port of Savannah and ranging in size from 230,000 to 310,000 square feet, the properties feature rear- and front-load capabilities, 36-foot clear heights, 60-foot speed bays, 185-foot-deep truck courts, 25-foot candle LED warehouse lights, ESFR sprinkler systems and dock packages. Each building also includes at least 2,500 square feet of speculative office space. Britton Burdette, Dennis Mitchell, Matt Wirth, John Huguenard, Jim Freeman and Mitchell Townsend of JLL represented the seller, Greenland Developers Inc., in the transaction. The Orden Co. acquired the portfolio for an undisclosed price.
ST. CHARLES, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VI LP, has acquired a 785,181-square-foot, two-building industrial portfolio in the Chicago suburb of St. Charles. The purchase price for the sale-leaseback transaction with R.R. Donnelley was undisclosed. Located at 609 Kirk Road is a 504,152-square-foot building that was constructed in 1988. The property features a clear height of 30 feet, 45 docks and three drive-in doors. The second building in the portfolio totals 281,029 square feet and is located at 1750 Wallace Ave. Built in 1990, the property features clear heights ranging from 21 to 31 feet, 15 exterior docks and one drive-in doors. Mike Tenteris, Jim Carpenter, Adam Tyler, Scott Goldman and David Friedland of Cushman & Wakefield represented the seller. VK Industrial VI is co-sponsored by Venture One Real Estate and Kovitz Investment Group.
