AUSTIN, TEXAS — NAI Partners has brokered the sale of a 50,000-square-foot industrial building located at 4401 Supply Court in South Austin. Troy Martin of NAI Partners represented the buyer, CKD USA, the U.S. subsidiary of Japanese machine manufacturing firm CKD Corp. Joe Novek and Darryl Dadon of CBRE represented the seller. The new ownership plans to invest about $13 million in revamping the facility, which is expected to be operational in fall 2021 and bring about 70 new jobs to the area.
SAN ANTONIO — Partners Capital, the investment arm of NAI Partners, has acquired Blanco Crossing, a 22,606-square-foot shopping center in north-central San Antonio. The property was 84 percent leased at the time of sale to tenants such as Sake Café, The Mailing Spot, Kennedy’s Public House and KC Pet Products. Andrew Pappas and Adam Hawkins of the Partners Capital team worked with Philip Levy and Jack Newman of Marcus & Millichap to close the deal. Veritex Bank provided acquisition financing. Partners Capital targets commercial real estate properties in Texas in the $5 million to $30 million range.
SOMERSET, N.J. — NAI DiLeo-Bram has negotiated a 308,000-square-foot industrial lease at 481 Weston Canal Road in the Northern New Jersey city of Somerset. Bridge Development Partners recently completed the property, which is located within the three-building Bridge Point Somerset development. Building features include 36-foot clear heights, 78 trailer stalls, 50 loading docks and proximity to Interstate 287 and the New Jersey Turnpike. Eric Bram Johnston and Christopher Galiano of NAI DiLeo-Bram represented the tenant, an undisclosed furniture manufacturer that is relocating from Edison, in the lease negotiations. JLL represented Bridge Development Partners.
SUGAR LAND, TEXAS — NAI Partners has arranged the sale of a 153,000-square-foot office, cold storage and food processing facility located at 10631 Corporate Drive in the southwestern Houston suburb of Sugar Land. Zane Carman and Clay Pritchett of NAI Partners represented the buyer, an unnamed national food manufacturing company, in the transaction. Jarret Venghaus, David Buescher and Jordan Raney of JLL represented the seller, Midway Corp. Partners LP.
GRAND PRAIRIE, TEXAS — NAI Robert Lynn has negotiated a 36,742-square-foot industrial lease at 900 Avenue S in the central metroplex city of Grand Prairie. According to LoopNet Inc., the property was built in 1985, totals 125,881 square feet and includes 1,339 square feet of office space. Michael Stanzel of NAI Robert Lynn represented the tenant, wire and cable provider Condumex Inc., in the lease negotiations. Robert Allen of First Industrial Realty Trust represented the landlord on an internal basis.
GREENVILLE AND SPARTANBURG, S.C. — Commercial real estate services firm NAI Earle Furman has merged operations with Pulliam Investment Co., a real estate owner and developer. Pulliam Investment is based in Spartanburg, S.C., and has been in business since 1970. Terms of the merger were not disclosed. Under the new partnership, John Easterling, CEO of Pulliam Investment, will focus on expanding NAI Earle Furman’s seniors housing division and growing the firm’s investment platform. Easterling is the past chairman of the Spartanburg County Transportation Committee and chairman of the City of Spartanburg Planning Commission. He has also served on the Project Design and Architectural Review Committee of the Spartanburg Development Council. Easterling is a graduate of Clemson University with an MBA from the University of South Carolina.
ELIZABETH, N.J. — NAI James Hanson has negotiated a 28,900-square-foot industrial lease at 475 Division St. in Elizabeth, located just south of Newark. The 175,000-square-foot building features 18-foot ceiling heights, five loading docks, 10 trailer parking spaces and 2,000 square feet of office space. Barry Cohorsky and John Koch of NAI James Hanson represented the landlord, Tree Realty, in the lease negotiations. Robin Ritter-Ceriello of Cushman & Wakefield represented the tenant, locally owned trucking company Motion Express.
AUSTIN, TEXAS — NAI Partners has negotiated the sale of Davenport 360, a 37,500-square-foot office building located at 6001 Bold Ruler Way in Austin. Todd Mahler of NAI Partners represented the buyer, Pharmacists Mutual Insurance Group, in the transaction. Cushman & Wakefield represented the undisclosed seller. The sale is one of the top five largest by transaction value completed in 2020 in the Austin office market, according to the sales team.
TAMPA, FLA. — Two SIOR veterans have launched NAI THOR Commercial Group in Tampa. Brad Berzins and Andy Georgelakos, former executives with NAI KLNB in the Baltimore-Washington, D.C. corridor, are leading the office. NAI THOR will service the Tampa and Southwest Florida region, namely Tampa, Sarasota, Fort Myers and Naples. Also joining the Tampa office is Kevin Fitzgerald, the former head of NAI Southwest Florida. Fitzgerald has more than 35 years of commercial real estate experience. NAI THOR is the 12th NAI Global office in Florida. “Our research and instincts have pointed us to this section of the country and we firmly believe economic, infrastructure and societal forces have aligned to bring unprecedented growth to this region,” says Georgelakos. “We intend to be extremely aggressive in attracting the top brokerage talent to our team and quickly mobilizing to capitalize upon emerging real estate opportunities.” Berzins has worked in the Mid-Atlantic region for 20 years and has completed transactions valued at more than $1 billion throughout his career. Georgelakos served as president of NAI KLNB from 2000 to 2017. He helped grow the company from two to four offices throughout the Baltimore-Washington, D.C.-Northern Virginia region. The firm also grew to more …
HOUSTON — NAI Partners has negotiated an 8,600-square-foot industrial lease at 4500 N. Sam Houston Parkway W. in northwest Houston. According to LoopNet Inc., the property was built in 2008 and spans, 44,500 square feet. Jorge Martinez and Clare Flesher of NAI Partners represented the tenant, Healthline Medical Equipment, in the lease negotiations. The name and representative of the landlord were not disclosed.