DEER PARK, TEXAS — Logistics firm S.I. Warehousing Co. Inc., a subsidiary of St. Louis-based Slay Industries, has signed a 252,203-square-foot industrial lease at Monument Business Park in Deer Park, an eastern suburb of Houston. Monument Business Park consists of a 414,900-square-foot cross-dock building and a 194,610-square-foot front-load building that were completed in the fourth quarter of 2019. The buildings feature 32- to 36-foot clear heights and ample trailer parking. David Munson of Boyd Commercial represented the owner and developer, Molto Properties, in the lease negotiations. Kelley Parker, Coe Parker and John Littman of Cushman & Wakefield represented the tenant.
OCEANSIDE, GARDEN CITY AND HEWLETT, N.Y. — Mortgage banking firm Talonvest Capital LLC has arranged a $59.5 million bridge loan for the refinancing of three self-storage facilities in New York. The newly constructed properties total 246,248 net rentable square feet and are located in the Long Island hamlets of Oceanside, Garden City and Hewlett. Utah-based REIT Extra Space Storage operates the properties. The nonrecourse loan featured a 48-month term with extension options and a loan-to-value ratio of 80 percent. The borrower was Illinois-based LSC Development. The direct lender was not disclosed.
ATLANTA — JLL has negotiated the $38.5 million sale of a four-building, 281,677-square-foot industrial campus in Atlanta’s Cumberland-Galleria submarket. The property was 87 percent leased to 36 tenants at the time of sale. The asset is situated on 23 acres at 120 Interstate NW, less than one mile from the Interstate 75-285 interchange and 23 miles north of Hartsfield-Jackson Atlanta International Airport. The buildings feature 14- to 18-foot clear heights, new roofs, 34 dock-high doors and 39 grade-level roll ups. Dennis Mitchell, Matt Wirth, Britton Burdette and Crosby Taylor of JLL represented the seller, a joint venture between The Ardent Cos., Taconic Capital Advisors and Axonic Capital, in the transaction. Albany Road Real Estate acquired the property through its Albany Road Fund III.
ELK GROVE VILLAGE, ILL. — Anritsu Infivis Inc. has signed a 61,627-square-foot industrial lease at 701 Innovation Drive within the Elk Grove Technology Park in Elk Grove Village. The tenant is a supplier of advanced product inspection and foreign material detection equipment installed on food and pharmaceutical production lines globally. The new lease represents an expansion from the company’s former location on Cambridge Drive. David Creiner and Corey Chase of Newmark represented the tenant in the lease transaction. Elk Grove Technology Park is a 600,000-square-foot industrial park that includes bike and walking paths. Brennan Investment Group is the developer of the park.
SCHERTZ, TEXAS — Hines Global Income Trust, an institutional investment arm of the Houston-based real estate giant, has acquired a 1.2 million-square-foot fulfillment center leased to Amazon in Schertz, located northeast of San Antonio. The property is situated along the Interstate 35 corridor. The seller and sales price were not disclosed.
SAN JOSE, CALIF. — Panattoni Development Co. has completed the disposition of an industrial property located at 2144 Oakland Road in San Jose. TA Realty acquired the asset for $26.6 million. The County of Santa Clara occupies the 82,900-square-foot building, which was recently constructed. Steven Golubchik, Edmund Najera, Jonathan Schaefler, Darran Hollak and Jack Phipps of Newmark represented the seller in the transaction.
BOSTON — A partnership between locally based investment firm Oliver Street Capital and Bain Capital Real Estate has purchased a 113,000-square-foot industrial building located at 44-48 Garden St. near downtown Boston. The sales price was $15 million. The property is situated on 3.4 acres near Encore Casino and Boston-Logan International Airport and contains both warehousing and light industrial space. The seller was not disclosed.
CARLSTADT, N.J. — Sitex Group, an investment and development firm focused on the Tri-State area, has acquired a 30,000-square-foot warehouse in the Northern New Jersey city of Carlstadt. The property, which is currently vacant, features 20-foot clear heights, two loading docks and 3,000 square feet of office space. Jeff Chaus of Chaus Realty brokered the deal and has been retained to lease the building.
WETUMPKA, ALA. — Russell Brands LLC has sold its former manufacturing facility in Wetumpka. An affiliate of Phoenix Investors acquired the 891,000-square-foot building for an undisclosed price. Prior to closing the plant in 2013, Russell Brands manufactured sports equipment and clothing at the site, marketing its products under many brands and subsidiaries, including Russell Athletic and Spalding. The property spans 102 acres and features 41-foot clear heights, 100 slots for trailer storage, 29 loading docks and five drive-in doors. Built between 1995 and 1997, the asset is situated at 3145 Elmore Road, 18 miles north of downtown Montgomery. Philip Yost of CBRE brokered the transaction of the vacant property.
AURORA, COLO. — San Francisco-based Graham Street Realty has purchased Commerce Square, an industrial asset located in the Interstate 70 East Industrial submarket of the Denver-Aurora metro. First Industrial Realty Trust sold the property for $16 million. Commerce Square features 144,464 rentable square feet of shallow-bay, light industrial space across two Class B buildings, which were built in 1984. The single-story buildings offer above-standard loading capabilities and storefronts. At the time of sale, Commerce Square was fully leased. Oakland, Calif.-based Paramount Property Co. will provide property management services for the asset. This deal brings Graham Street Realty’s Colorado portfolio to nine properties and marks the firm’s first industrial acquisition.