MOUNT MORRIS, ILL. AND COVINGTON, TENN. — Milwaukee-based Phoenix Investors has purchased two industrial properties formerly occupied by printing company Quad Graphics, including one in Mount Morris, for a combined $13.5 million. The Mount Morris facility features 586,706 square feet and is located at 404 N. Wesley Ave., about 30 miles southwest of Rockford. The property features 24 loading docks, two drive-in doors and rail access to BNSF. Phoenix also acquired a 523,010-square-foot property in Covington, Tenn. Phoenix purchased the properties from Industrial Realty Group. Both properties have existing tenants in place.
GRAND PRAIRIE, TEXAS — Stream Realty Partners has begun work on Parkway Logistics Center, a 271,794-square-foot industrial development in Grand Prairie, a western suburb of Dallas. Built on a speculative basis, the Class A space will be divisible into 50,000-square-foot blocks and will feature 44 dock-high bays as well as dedicated parking for 69 trailers and more than 100 vehicles. Stream Realty acquired the site in February through a joint venture with LaSalle Investment Management, a subsidiary of JLL. Completion is scheduled for later in the year.
ADDISON, TEXAS — VapeWild, a manufacturer and distributor of e-cigarette juice, has signed a 62,289-square-foot office/industrial lease at 4550 Excel Parkway in Addison, a northern suburb of Dallas. VapeWild has operated in Addison since 2013 and is expanding its footprint, which previously totaled 20,765 square feet. Roughly half the new space is being used for manufacturing and distribution and the other half will be used to house its customer relations team. The company, which now employs about 280 people, will move into its expanded space in July.
HOUSTON — NAI Partners has arranged the sale of a 54,750-square-foot warehouse located at 14333 Sommermeyer St. in northwest Houston. Nick Peterson, John Ferruzzo and Ryan Searle of NAI Partners represented the seller, Vallourec Tube Alloy LLC, a provider of casing and tubing accessories, in the sale. Justin Clark and Nathan Gaines of Clark Gaines represented the buyer, H&B Development & Construction LP.
NASHVILLE, TENN. — Virginia Beach, Va.-based CCP Commercial Real Estate has acquired a five-building office-flex portfolio in Nashville for $41.2 million. The properties are located within the city’s Airport North and Metro Center submarkets. The portfolio, which was 97 percent leased at the time of sale, totals 413,000 square feet and includes a mix of office and warehouse space. The name of the seller was not disclosed. The acquisition brings CCP’s portfolio in the Nashville market to approximately 1 million square feet.
ELGIN AND DOWNERS GROVE, ILL. — Brown Commercial Group has negotiated the sale of two industrial buildings totaling 63,128 square feet in Illinois. The sales prices were not disclosed. Nottingham Realty Group LLC purchased a 38,128-square-foot industrial building located at 1700-1730 Todd Farm Drive in Elgin. The building is fully leased and located within the Windsor Commerce Center. Brian Lindgren of Brown represented the buyer, who was completing a 1031 exchange. John D’Orazio of Colliers International represented the seller, Cristie Ann Enterprises LLC. Lindgren also represented Premium Investment Properties LLC in its purchase of a 25,000-square-foot building at 2211-2239 Curtiss St. in Downers Grove. The seller was Simborg Industrial Real Estate LLC.
EDINA, MINN. — Grandbridge Real Estate Capital has arranged a $2.8 million loan for the refinancing of a 74,595-square-foot office and warehouse building in Edina. A life insurance company provided the 10-year loan, which features a 20-year amortization schedule. Tony Carlson and Brett Olson of Grandbridge arranged the loan. The borrower was not disclosed.
SAUKVILLE, WIS. — The Dickman Co. Inc./CORFAC International has brokered the sale of a 30,197-square-foot industrial building in Saukville, about 25 miles north of Milwaukee. The sales price was not disclosed. The property is located at 851 N. Progress Drive. Nick Keys and Roger Siegel of Dickman brokered the transaction. Progress13 LLC purchased the asset from Denz Group LLC.
REMINGTON, VA. —Canada-based PointOne Development Corp. is underway on Remington Technology Park (RTP), a 234-acre data center campus in Remington, a city in northern Virginia. PointOne is investing $1.6 billion to develop the project, which will be supported by 300 megawatts of utility power and will have connectivity to terrestrial and undersea fiber-optic cables. Diode Ventures, in conjunction with Enfinite Capital, secured initial funding for RTP and will continue to provide financial modeling support and capital assembly for the balance of the project. Black & Veatch is providing design-build services. The Diode/Enfinite partnership will operate and maintain the campus upon completion. The project marks PointOne’s first investment in the U.S. data center market. A construction timeline was not disclosed.
COLLEGE PARK, MD. — Finmarc Management Inc. has acquired the Stone Mountain Industrial campus in College Park for $6.2 million. The three-building campus, located at 9207 51st Ave., is roughly nine miles north of Washington, D.C., and less than two miles from the University of Maryland. Stone Mountain Industrial campus comprises 115,000 square feet of industrial, manufacturing and office space. Christopher Kubler and Alan Coppola of NAI KLNB arranged the transaction on behalf of Finmarc. The name of the seller was not disclosed. The warehouse building at the property features 18-foot ceiling heights, and the manufacturing building offers 17-foot ceiling heights. Finmarc is considering multiple uses for the property, including maintaining its status as industrial or rezoning the site to support a townhouse development, according to a release. A small portion of the campus is already zoned for residential.