GARLAND, TEXAS — Marcus & Millichap has brokered the sale of a trio of industrial assets totaling 53,254 square feet in Garland, a northeastern suburb of Dallas. The buildings are situated on a combined 2.7 acres and were built between 1969 and 1991. Adam Abushagur and Sam Martin of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
GRAND PRAIRIE, TEXAS — Lee & Associates has negotiated a 22,265-square-foot industrial lease at 921 Ave. M in Grand Prairie, located midway between Dallas and Fort Worth. Mark Graybill and Colton Rhodes of Lee & Associates represented the tenant, Alltech Engineering, in the lease negotiations. The representative of the landlord, Sealy & Co., was not disclosed.
WHITE MARSH, MD. — A joint venture between Atapco Properties and Chesapeake Real Estate Group LLC (CREG) has sold Nottingham Ridge, a two-building, 750,000-square-foot industrial complex in White Marsh, for $71.2 million. The Baltimore County property spans 52 acres at 5301 and 5300 Nottingham Drive, 14 miles northeast of downtown Baltimore and Port of Baltimore. The joint venture acquired the land from Paragon Outlets in 2018. The development took 18 months to complete. The building at 5301 Nottingham spans 165,000 square feet and was 67 percent leased at the time of sale. The asset at 5300 Nottingham was unoccupied at the time of sale. The buyer was not disclosed.
PHILADELPHIA — Newmark Knight Frank has arranged a $163 million floating-rate loan for the acquisition and refinancing of a 12-property industrial portfolio located in various markets across the United States. A partnership of CIT Group and BlackRock provided the loan. The borrower, Philadelphia-based Arden Group, will use the proceeds to acquire assets located in Texas, Georgia and Ohio and to refinance assets located in Pennsylvania and North Carolina. Dustin Stolly and Jordan Roeschlaub led an NKF team that arranged the loan. The seller of the portfolio was California-based investment firm Avistone LLC.
YORK, PA. — Rock Commercial Real Estate has brokered the sale of a 46,640-square-foot industrial property in York, approximately 25 miles south of Harrisburg. Located at 560 Maryland Ave., the property offers convenient access to Harrisburg International Airport, the Port of Baltimore and the Emons Logistics Services railroad. Greg Finkelstein and Jason Turnbull of Rock Commercial represented the buyer, Frasier-Campbell Properties LLC, in the transaction. The team also procured the buyer, 4300 NESC LLC.
CARROLLTON, TEXAS — United Laboratories Manufacturing LLC, a provider of dietary supplements and sports nutrition products, has signed a 131,840-square-foot industrial lease renewal at 1270 Champion Circle in the northern Dallas suburb of Carrollton. Steve Trese of CBRE and Max Knake of Knake Dodge & Co. represented the tenant in the lease negotiations. The representative of the landlord, ML Realty, was not disclosed.
MINNEAPOLIS — PCCP, in a joint venture with Capital Partners, has acquired a five-property industrial portfolio in metro Minneapolis for an undisclosed price. The light industrial portfolio spans 557,887 square feet and is currently 87 percent leased. The seller, Scannell Properties, developed three of the buildings within the last year. The specific locations of the properties were not disclosed, but they are situated in three different submarkets within the metro area.
SPARTA, N.J. — NAI James Hanson has negotiated the sale of 2 and 4 Aaron Way, two adjacent industrial development sites totaling 31.5 acres in Sparta, located approximately 60 miles northwest of New York City. The buyer, a Morris County-based developer, plans to construct a 30,000-square-foot speculative warehouse on the property. The sites are located within White Lake Commerce Park, which consists of 12 lots that are all expected to be sold by late March. Several different developers plan to construct speculative industrial buildings ranging in size from 10,000 to 30,000 square feet on the lots. John Schilp of NAI Hanson represented the seller, Berardi Developers, in the transaction. The sales price was undisclosed.
CHICAGO — SVN Chicago Commercial has brokered the $2 million sale of a 44,500-square-foot industrial property located at 4417 S. Springfield Ave. in Chicago’s Archer Heights neighborhood. Beverly Hayes and John McDermott of SVN represented the undisclosed seller. A Chicago-based company purchased the asset due to its location and loading capacity, according to Hayes.
FORT WAYNE, IND. — Schindler Elevator Corp. has renewed its 2,150-square-foot industrial lease at 7616 DiSalle Blvd. in Fort Wayne. John Caffray of Sturges Property Group represented the tenant as well as the landlord, DiSalle Boulevard Partnership. Switzerland-based Schindler Group is one of the leading global manufacturers of elevators, escalators and moving walks. The U.S. headquarters for Schindler Elevator Corp. is based in Morristown, N.J.