PHILADELPHIA — Cushman & Wakefield has arranged $13.1 million in acquisition financing for a 452,375-square-foot industrial facility in Philadelphia. Located at 11200 Roosevelt Blvd., the property is fully leased to a mix of industrial users. John Alascio, Sridhar Vankayala and Zachary Kraft of Cushman & Wakefield’s Equity Debt & Structured Finance group secured financing for the borrower, Ivy Realty, through lender Reinsurance Group of America Inc. Ivy Realty plans to make $3 million in capital improvements to the property and rebrand it as the Roosevelt Industrial Center.
RANCHO CUCAMONGA, CALIF. — TH Real Estate, an affiliate of Nuveen, has completed the sale of an industrial warehouse located at 9050 Hermosa Ave. in Rancho Cucamonga. Deutsche Wealth Services acquired the property for $68.9 million, or $147.11 per square foot. Built in 2004 on a 20-acre site, the freestanding, cross-docked property features 468,682 square feet of Class A industrial space. The asset offers fully-secured concrete truck courts, gate-controlled drive-around access, an ESFR sprinkler system, 104 dock-high and four ground-level loading doors and heavy power. Ingram Micro, a distributor of information technology products, fully occupies the property. Jeffrey Cole, Jeff Chiate, Mike Adey and Ed Hernandez from Cushman & Wakefield’s Capital Markets Group brokered the transaction. Chuck Belden and Phil Lombardo of Cushman & Wakefield, along with Mike McCrary and Peter McWilliams of JLL, served as market advisors.
VISTA, CALIF. — Cushman & Wakefield has arranged the sale of a freestanding industrial building, located at 2530 Pioneer Ave. in Vista. Ki’s Kitchen purchased the 9,150-square-foot property from BS Ventures for $1.8 million. Built in 1989, the property features a modernized conference room, private office space, open break room/reception, floor-to-ceiling glass walls, multiple restrooms, motorized grade loading and a secured fenced yard. The buyer, a privately owned commercial kitchen company, plans to relocate its own operations to the property from its current location in Carlsbad. Chris Baumgart and Jeffrey Sallen of Cushman & Wakefield’s San Diego office represented the seller in the deal.
HOUSTON — NAI Partners has secured a 64,175-square-foot industrial lease renewal at 5700 Campbell Road in Houston on behalf of Gulf Pacific Rice, a rice processor and merchandiser. Jake Wilkinson of NAI Partners represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.
AURORA, ILL. — Panattoni Development has purchased a 53.4-acre site in Aurora to develop Orchard Gateway, a 764,895-square-foot speculative warehouse. The Class A facility will be divisible up to 300,000 square feet. Completion is slated for the third quarter of 2019. Building features will include a clear height of 36 feet, 166 exterior docks, 185 trailer parking positions and 304 car parking spaces. Alston Construction and Harris Architects make up the project team.
LITHIA SPRINGS, GA. — Lincoln Property Co. Southeast and Crow Holdings Capital Real Estate have broken ground on a 251,466-square-foot speculative warehouse/distribution center called Factory Shoals Distribution Center in Lithia Springs. The site is located on Interstate 20, 15 miles west of downtown Atlanta. The center will feature a 185-foot deep truck court, 40 spaces for excess truck storage, 32-foot clear heights and motion-sensor lighting. The project is slated to be finished in summer 2019.
STONE MOUNTAIN, GA. — Children’s Healthcare of Atlanta (CHOA) has leased 114,000 square feet within Stone Mountain Industrial Park in Stone Mountain. The landlord, Atlanta-based Ackerman & Co., acquired the 4.1 million-square-foot industrial park in December 2016. Brett Buckner, Jimmy Stevens and Major Martin represented Ackerman internally. Brandon Wallace of Cushman & Wakefield represented CHOA, which has transformed the space to replicate a hospital wing to test systems and procedures for doctors and nurses. The warehouse is located 10 miles from CHOA’s new North Druid Hills campus in Atlanta.
CLARK, N.J. — NKF has arranged the $15.8 million sale of a 108,000-square-foot flex facility in Clark. Located at 175-195 Terminal Ave., the property is fully leased as the headquarters of L’Oréal’s North American R&D division. The seven-acre property includes a single-story R&D space that was recently renovated. Steven M. Schultz and Tony D. Georgiev of NKF represented the seller, Denholtz Associates, in the transaction. The buyer was undisclosed.
LEE’S SUMMIT, MO. — Mid-States Distributing LLC has purchased the former Toys ‘R’ Us Kansas City distribution facility located in Lee’s Summit. Mid-States, which is a U.S. and Canadian farm and ranch retail store cooperative, plans to commence operations at the site by the end of the year. The company also plans to hire between 30 and 35 additional employees. Mid-States plans to invest more than $35 million for the 725,769-square-foot facility, which will serve as a centralized distribution point. Toys ‘R’ Us ceased operations earlier this year.
CLEVELAND — Arcapita and Weston have acquired a seven-property industrial portfolio spanning 655,000 square feet in Cleveland. The purchase price was not disclosed. Logistics, technology and assembly space tenants occupy the properties. Weston will serve as the leasing and managing agent.