IRVING, TEXAS — Lee & Associates has negotiated a 21,418-square-foot industrial lease in the northern Austin suburb of Round Rock. According to LoopNet Inc., the building at 350 Texas Ave. was completed earlier this year, totals 107,298 square feet and features 28-foot clear heights, two drive-in bays and 20 dock doors. Adam Green and Will Sallis of Lee & Associates represented the landlord, Mississippi-based REIT EastGroup Properties, in the lease negotiations. The name and representative of the tenant were not disclosed.
ATLANTA — JLL has negotiated a 150,000-square-foot lease with locally based Porter Logistics at Logistics Pointe, an industrial facility located at 605 Selig Drive on Atlanta’s west side. Porter Logistics already occupies 266,813 square feet of dry storage at the facility, bringing the third-party logistics firm’s footprint in the building to 412,513 square feet. Austin Kriz of JLL represented the tenant in the lease negotiations. The landlord was Covington Group Inc. Porter Logistics is backfilling recently vacated space at the 650,259-square-foot industrial facility, which features 20 exterior dock doors, four drive-in bays and clear heights ranging from 24 to 27 feet.
LINDEN, N.J. — Cushman & Wakefield has arranged $300 million in permanent financing for Buildings 300, 400 and 700 within Linden Logistics Center in Northern New Jersey. Linden Logistics Center is a newly completed development that was 94 percent leased at the time of the loan closing to tenants such as Samsung Electronics America, Vanguard Logistics, Fabuwood Cabinetry and OCM Globe. Buildings at the property feature a mix of front-load and cross-dock configurations as well as clear heights of 40 feet. John Alascio, Alex Hernandez, Chuck Kohaut, T.J. Sullivan and Mitch Rothstein of Cushman & Wakefield arranged the fixed-rate debt on behalf of the borrower, a partnership between Advance Realty Investors and Greek Real Estate Partners. The direct lender was not disclosed.
WOODINVILLE, WASH. — Marcus & Millichap has arranged the sale of The Junction, an industrial facility in Woodinville. A limited liability company sold the asset to an undisclosed buyer for $10.5 million. Located at 19151 144th Ave. NE, the 31,000-square-foot The Junction is 93 percent leased to a variety of tenants, including fast food, auto care and tasting rooms. John Marks and RJ Vara of Marcus & Millichap’s Seattle office represented the seller in the deal.
ARLINGTON HEIGHTS, ILL. — Marcus & Millichap has negotiated the $13 million sale of a 111,667-square-foot flex industrial property in the Chicago suburb of Arlington Heights. Built in 1990, the facility at 545 E. Algonquin Road is fully leased to two long-term tenants. Intertek Testing Services, a global product testing and certification firm, occupies 85 percent of the space and has been a tenant since 2004. GigeNET, a provider of dedicated cloud, hybrid and colocation hosting solutions, occupies the remaining space and has operated at the facility since 2006. Peter Doughty of Marcus & Millichap represented the seller, a private investor. The undisclosed buyer purchased the property at the full list price.
SEAFORD, DEL. — SVN | Miller Commercial Real Estate has negotiated the $4.2 million sale of a 61,900-square-foot industrial building located in Seaford, a city in central Delaware. The new owner is leasing the space at 6063 Whitehurst Drive to its affiliated company, fencing manufacturer Patriot Aluminum. The McClellan Team at SVN | Miller represented the seller in the transaction, and the firm’s Flo Brotzman represented the buyer, an entity doing business as MKJ Properties LLC.
MARTINSBURG, W.VA. — Marcus & Millichap has negotiated the $4.8 million sale of a 67,200-square-foot industrial facility located at 5158 Williamsport Pike in Martinsburg. PepsiCo recently vacated the facility after its lease expired on May 31. Situated on 7.6 acres, the tilt-up concrete building includes a recently replaced roofing system, 28- to 32-foot clear heights, a 34-foot full deck height, seven trailer dock doors, two trash removal doors, nine levelers, single and double-wide drive-in doors and a 15-ton interior gantry crane. Kyle Malin and Brian Chupek of Marcus & Millichap’s Baltimore office represented the Los Angeles-based seller and procured the Maryland-based buyer. Both parties requested anonymity. Grant Fitzgerald served as Marcus & Millichap’s broker of record in West Virginia for the deal.
CARTERET, N.J. — Newmark has negotiated a 65,817-square-foot industrial lease in the Northern New Jersey community of Carteret. According to LoopNet Inc., the building at 100 Middlesex Ave. was constructed on a 16.9-acre site in 1989 and totals 416,000 square feet. Kyle Eaton, Robert Loderstedt, Michael Schipper and Haylee McCabe of Newmark represented the tenant, automotive parts reseller and e-commerce platform Bay Speed, in the lease negotiations. The name and representative of the landlord were not disclosed.
DENVER — JLL Capital Markets has arranged the sale of an industrial portfolio spanning Denver, Houston and northern New Jersey. Principal Asset Management and a state-sponsored pension plan acquired the asset from an undisclosed seller. Terms of the transaction were not disclosed. Totaling 2.1 million square feet, the portfolio spans 10 industrial properties that were 96.7 percent occupied at the time of sale. The portfolio includes: – Five properties, totaling 1.2 million square feet, in Denver at 11700 E. 47th Ave., 11511 E. 45th Ave., 11775 E. 45th Ave., 11351 E. 45th Ave. and 11198 E. 45th Ave. – Four assets, totaling 708,944 square feet, at Waypoint Business Park on S. Sam Houston Parkway W in southwest Houston – A 208,899-square-foot facility at 1203 S. River Road at Exit 8A on the New Jersey Turnpike Trent Agnew, John Huguenard, Peter Merrion, John Plower, Patrick Nally, Charlie Strauss, William McCormack and Robert Key of JLL Capital Markets Investment Sales and Advisory team represented the seller in the transaction.
WRIGHT CITY, MO. — American Foods Group has opened an $800 million beef processing facility adjacent to I-70 in Wright City, about 50 miles west of downtown St. Louis. The 800,000-square-foot facility is known as America’s Heartland Packing LLC. The project was the focus of a FreightWeekSTL panel discussion hosted by the St. Louis Regional Freightway. Cattle are primarily shipped to the facility on trucks through the interstate highway system, as well as the associated packaging equipment needed for shipping outbound products. On average, the property receives about 10 trucks of cattle every weekday, with the plant harvesting about 400 cattle per day. The plant produces varying types of beef, including ground beef and different cuts of steaks. The facility ships out eight to 10 trucks of finished products per day to grocery stores, further processors, food service providers and schools. The Missouri Department of Transportation is investing $2.8 billion to add a third lane in each direction along nearly 200 miles of I-70 between St. Louis and Kansas City, a major project that is expected to benefit the new beef facility. Operations are expected to increase significantly at the facility in the future. Full operational capacity is anticipated to …