FLORENCE, N.J. — Lee & Associates has brokered the $14.7 million sale of a 30.8-acre industrial development site located in Florence, a southern suburb of New Jersey. Located on Railroad Avenue, the property consists of two parcels that have been approved for construction of a 300,700-square-foot warehouse and distribution facility. Details of the construction schedule were undisclosed. Bob Yoshimura, Joe Hill and Eric Mattson led a Lee & Associates team that represented the seller, Foxdale Properties, in the transaction. The team also worked with Robert Lambert of Cushman & Wakefield. Denver-based Black Creek Group was the buyer.
HACKENSACK, N.J. — NAI James Hanson has negotiated a 22,526-square-foot industrial lease for women’s clothing retailer Advance Apparels in Hackensack, a northwestern suburb of New York City. Located at 105-111 S. State St., the property features 20-foot clear heights and 2,000 square feet of office space. Patrick Lennon and Kenneth Lundberg of NAI James Hanson, along with Fred Meyer of NAI Mertz, represented the landlord, Turabdin Realty LLC, in the lease negotiations. Stevie Muller of Equity 3 LLC represented the tenant.
EAST POINT, GA. — JLL has arranged the $33.5M Sale of Creekside Distribution Center, a 538,500-square-foot property in East Point. Developed in 2016, the property is situated on 32 acres at 2110-2135 Lawrence Ave., five miles north of Hartsfield-Jackson Atlanta International Airport and seven miles southwest of downtown Atlanta. The property features 32-foot clear heights, concrete tilt-wall construction, 85 dock-high doors, five drive-in doors and ESFR fire suppression. Dennis Mitchell, Britton Burdette, Matt Wirth and Brent Bono of JLL represented the seller, a joint venture between Solution Property Group and Singerman Real Estate, in the transaction. Summit Real Estate Group purchased the asset.
TAMPA, FLA. — Refresco Beverages US Inc. has leased 364,084 square feet of industrial space at 5210 S. 16th Ave. in Tampa. The 10-year lease is valued at $18 million. Refresco Beverages US is a North American subsidiary of the Netherlands-based soft drink bottler and distributor. This is Refresco’s third location in Tampa, growing its footprint in the region by 50 percent. The property, located six miles east of downtown Tampa, was previously home to Southern Glazer’s Wine & Spirits. Ryan Vaught and Robyn Hurrell of Colliers International represented the landlord, RealOp Investments, in the transaction. Foundry Commercial represented the tenant.
FORT WORTH, TEXAS — Novartis, a multinational pharmaceutical company based in Switzerland, has signed a 13,294-square-foot industrial lease at Everman Trade Center in Fort Worth. Matt Carthey and Thomas Grafton with Holt Lunsford Commercial represented the owner, Boston-based TA Realty, in the lease negotiations. Joe Siglin with Newmark Knight Frank represented the tenant. Everman Trade Center is a four-building, shallow-bay industrial development on the city’s south side that spans approximately 512,000 square feet.
NEWTON, ILL. — St. Joseph Renewable Fuels LLC has unveiled plans to build a $400 million renewable diesel plant in Newton, located within Jasper County in southern Illinois. The 40-acre site is within a federally designated opportunity zone. The proposed plant will bring new sources of renewable fuels to metropolitan, rural and underserved communities. It will consume waste fats and greases from a region spanning 1,000 miles around Newton that would otherwise be landfilled or emptied into sewer drains. The plant will convert the waste into 90 million gallons of diesel and naphtha fuel annually as well as 7 million gallons of technical grade glycerin. Project financing comes from New York-based specialty finance firm Lance Capital and its New Zealand joint venture partner, Lance-Kamaka Capital Ltd. Plans call for the use of a new app called HealthCheckIn that will test the workforce for COVID-19. Other partners include Cyberus Labs and a joint venture between McDermott and Chevron Oil, which will be involved in the core technology of the renewable fuels produced. The project will create 100 permanent jobs in the Newton community, 200 construction jobs for the duration of the two-year project and 300 trucking jobs throughout the state of …
GERMANTOWN, WIS. — Zilber Property Group will develop a fourth industrial building within Germantown Gateway Corporate Park in Germantown, about 20 miles north of Milwaukee. The 146,000-square-foot speculative building will feature a clear height of 30 feet. It will be the third speculative building within Zilber’s park, which is anchored by a 706,000-square-foot build-to-suit for Briggs & Stratton Corp. Once Zilber Industrial 4 is completed, the park will span more than 1.2 million square feet.
GURNEE, ILL. — Goldie’s Baking has signed a 15,122-square-foot industrial lease at 760 Lakeside Drive in Gurnee, about 40 miles north of Chicago. The property features a clear height of 22 feet, five shared docks and one drive-in door. Brian Bocci of Entre Commercial Realty represented the tenant, which is expanding and relocating from nearby McHenry. Eric Fischer and Mark Samuels of Cushman & Wakefield represented the undisclosed landlord. Goldie’s Baking is known for its scones.
FULLERTON, CALIF. — NorthMarq has arranged $10 million in refinancing for Lambert Industrial, a two-building industrial property in Fullerton. The permanent, fixed-rate loan was structured with a 10-year term on a 30-year amortization schedule. Daniel McCarthy and Michael Elmore of NorthMarq’s Newport Beach, Calif., office secured the loan for the undisclosed borrower through a national bank. Totaling 87,652 square feet, the properties are a 45,761-square-foot building at 150 Lambert and a 41,891-square-foot asset at 110 Lambert.
PHOENIX — NAI Horizon has arranged the sale of the Corbins Electric corporate headquarters, an industrial property located at 4829 S. 38th St. in Phoenix. Staffield Family LLC acquired the asset from ML Commercial Properties for $7 million. The building features 52,744 square feet of industrial space. Lane Neville and Logan Crum of NAI Horizon represented the buyer, while Clint Hardison and Blake Hardison of Keyser represented the seller in the transaction.