FEDERAL WAY, WASH. – The Andover Co./CORFAC International has arranged the sale of an industrial property located at 2835 S. 344th St. in Federal Way, about 22 miles south of Seattle. Khalsa Gurmat Center purchased the 10,578-square-foot building from Federal Way Campus LLC for an undisclosed price. Brian Bruinink, Mike Hemphill and Jim Bisset of Andover/CORFAC represented the seller, while Jeff Crane, also with Andover/CORFAC, represented the buyer in the deal.
NEW YORK CITY — Investment and development company Equilibrium Equities has acquired a 270,000-square-foot distribution center at 340 Upper Oakwood Ave. in Elmira Heights for an undisclosed price. The multi-tenant property was constructed in 1962 as a grocery distribution warehouse and includes 45 tailgate loading doors and a clear height of up to 28 feet. Equilibrium acquired the property from a former owner of Horwitz Paper, which was a large wholesale distributor of paper products and janitorial supplies that acquired the building in 2001. The facility will be rebranded by Equilibrium as the Victory Business Center. Michael Manzari of Cushman & Wakefield represented the seller in the transaction. At the time of sale, the property was 70 percent leased.
BOWIE, MD. — MRP Industrial has signed La-Z-Boy to a 220,800-square-foot, full-building lease at 16101 Queen’s Court, located within Bowie’s Collington Park industrial development. Delivered in 2016, the facility is located roughly 18 miles northeast of Washington, D.C. The national furniture manufacturer will transfer its distribution and logistics operation, currently located in Odenton, Md., to the new facility this fall. Lisa Goodwin of MRP Industrial and Lance Schwarz of NAI Michael arranged the lease on behalf of the building owner, a partnership between MRP Industrial and AEW Capital Management LP. Rob Tamillo, Zak Mirkowski, Todd Hughes and Greg Ferraro of JLL represented La-Z-Boy. Situated on 13 acres, 16101 Queen’s Court features 32-foot clear heights, 40 dock doors, two overhead drive-in doors, a 185-foot truck court and seven-inch, unreinforced concrete flooring. La-Z-Boy currently operates five manufacturing plants and six regional distribution centers throughout the country. The Bowie location will contain manufacturing, delivery and repair services, and will also offer customers the option to pick up furniture purchases instead of having their orders delivered.
FORT MILL, S.C. — Crescent Communities has sold Lakemont East, a 201,758-square-foot industrial building in Fort Mill, a South Carolina suburb of Charlotte. Hartz Mountain Industries Inc. acquired the newly constructed building for $12.7 million, according to the Charlotte Business Journal. Patrick Gildea of CBRE arranged the transaction on behalf of Crescent. Lakemont East was developed in collaboration with architectural firms Merriman Schmitt and Gensler. The building is located within Crescent’s Lakemont Business Park, an 864-acre, planned industrial development. In December, Crescent unveiled plans to develop a 345,000-square-foot, build-to-suit manufacturing and distribution facility for toolmaker Stanley Black & Decker at the park. The firm expects to wrap up construction on the building in the third quarter.
CHESTERFIELD TOWNSHIP, MICH. — Bernard Financial Group has arranged a $4.8 million loan for the refinancing of a 145,063-square-foot industrial property in Chesterfield Township, about 30 miles north of Detroit. An undisclosed tenant occupies the building. David Dismondy of Bernard arranged the loan on behalf of the borrower, 50625 RWB LLC. Genworth Life Insurance Co. provided the loan.
PONTIAC, MICH. — Marmo Mecccanica NA has purchased a 13,519-square-foot industrial building in Pontiac for an undisclosed price. The company, which specializes in the manufacturing of edge polishing and bridge cutting machines used in granite fabrication, will relocate to the space at 1590 E. Highwood Blvd. Built in 1990, the building features overhead cranes and a flexible floor plan to accommodate expansion. Tom Jablonski of L. Mason Capitani CORFAC International represented Marmo Meccanica in the sales transaction. The seller was not disclosed.
WARREN, MICH. — Anytime Restoration Service Inc. has signed a 10,500-square-foot industrial lease in Warren. The disaster restoration company that specializes in both commercial and residential projects involving water, fire and mold cleanup will occupy the space at 6655 Chicago Road. Matthew Farrell and Kevin Tamer of CORE Partners represented the tenant in the five-year lease transaction. Brad Hitch of Deco Properties represented the undisclosed landlord.
Trade and politics are nothing new for El Paso, Texas and its sister city Ciudad (Cd.) Juarez, Mexico. The history of the region is rooted in the interrelationship between two countries, three states and a trading route that originally ran from Mexico City to Santa Fe along the Camino Real. Today, international trade and political fights from elsewhere still have a considerable influence on what locals are talking about. But the regional industrial market continues to thrive by staying well below the radar. Despite concerns of imminent steel tariffs, restructuring of North American Free Trade Agreement (NAFTA) and the construction of an expanded border wall, the regional industrial economy keeps humming along, bringing the real estate market along with it. For industrial real estate tenants, the lure of a globally competitive workforce in Cd. Juarez and a link to the U.S. transportation infrastructure in El Paso makes this region a beacon for industrial users across the world. Triangle of Trade Take a two-hour drive along the loop highway circling El Paso, Cd. Juarez and Santa Teresa, New Mexico, and you will find an eye-opening list of international companies with industrial footprints. Foxconn from Taiwan, Polygroup from China, Bosch from Germany …
KYLE, TEXAS — Dallas-based Hillwood Properties and Austin-based HPI Real Estate Services will develop Hays Commerce Center, a 400,000-square-foot industrial development situated on 108 acres in Kyle, a southern suburb of Austin. The property, which will be located along the Interstate 35 corridor near Austin-Bergstrom International Airport, is being developed on a speculative basis. Construction of Building I, a 220,000-square-foot asset, is expected to be complete by the fourth quarter.
GARLAND, TEXAS —Stream Data Centers, the Dallas-based data center arm of Stream Realty Partners, will develop DFW VII, a 400,000-square-foot data center campus in Garland. The first phase will deliver a 140,000-square-foot, expandable data center that is slated for completion late this year. The campus will be situated on 22.6 acres on Lookout Drive and feature two 40 MW utility feeds.