SOUTH BRUNSWICK, N.J. – CBRE has arranged 450,000 square feet of leases at 301 Middlesex Center Blvd., a Class A industrial building in South Brunswick — bringing the newly constructed, speculative facility to full occupancy The transactions include a 250,000-square-foot lease with CDS Logistics and a 200,000-square-foot lease with Best Logistics. CBRE’s Steven Beyda, Mindy Lissner and Scott Belfer arranged the transaction on behalf of landlord IDI Gazeley, an industrial real estate developer. Beyda, Kevin Dudley and William Waxman of CBRE represented Best Logistics. Joe Nitti of Cresa represented CDS. Located near the New Jersey Turnpike, 301 Middlesex includes 36-foot ceiling heights, ESFR sprinkler systems and cross-docked loading.
WILMINGTON, DEL. — Grandbridge Real Estate Capital has arranged a $44.5 million first mortgage loan secured by an eight-property, 4,400-unit self-storage portfolio in Wilmington. Michael Balan of Grandbridge originated the refinancing transaction for Storage Rentals of America. The fixed-rate loan was funded through BB&T Real Estate Funding and features a 10-year term and 25-year amortization schedule.
MIAMI — Grandbridge Real Estate Capital has closed a $17.3 million loan for a 375,000-square-foot industrial facility in Miami. The three-building complex was 98 percent leased at the time of financing. Philip Carroll of Grandbridge’s Miami office arranged the seven-year loan with a sub-4 percent fixed interest rate and a 30-year amortization schedule through an unnamed life insurance company.
STAFFORD, TEXAS — Mission Capital Advisors has arranged $10.5 million in first mortgage financing for Avera Commerce Center, a 16-building industrial complex in Stafford, a southwestern suburb of Houston. Situated on 14.5 acres at 3928-4012 Bluebonnet Drive, the property measures 249,823 square feet. Ari Hirt, Steven Buchwald, Eugene Shevaldin, Lexington Henn and Will Sledge of Mission Capital arranged the loan on behalf of the borrower, Raith Capital Partners. Raith will use a portion of the non-recourse loan to make capital improvements to Avera Commerce Center.
HOUSTON — DCT Industrial Trust plans to develop a 222,000-square-foot, Class A distribution facility for logistics firm DHL Supply Chain USA near Port Houston. The publicly traded REIT recently purchased a 13.2-acre site located next to two DCT-owned industrial properties along State Highway 225, both of which are occupied by DHL, for the development. Angler Construction will begin building the facility during the second quarter.
BROOKLYN PARK, MINN. — The Opus Group has signed the first tenants at its 169 Business Center in Brooklyn Park, about 11 miles north of Minneapolis. Staging Concepts and its sister company SC Railing Co. will occupy 65,000 square feet within the 145,800-square-foot industrial development. The building is located at the intersection of 85th and Wyoming avenues, and features 24-foot clear heights and access to U.S. Highway 169. Staging Concepts, which produces portable staging equipment for venues of all sizes, will use the building as an additional facility to the company’s existing headquarters in Minneapolis. SC Railing, which provides railing systems, will use a small portion of the facility to store finished goods and perform a portion of railing fabrication. A joint venture partnership between Opus Development Co. LLC and Founders Properties LLC owns the development. Opus Development was the developer, Opus Design Build was the design-builder and led the tenant improvement work and Opus AE Group served as architect, structural engineer and interior designer. Jason Meyer, Brent Masica and Kris Smeltzer of Cushman & Wakefield | NorthMarq marketed the property for lease. Tim Carlson of Cresa represented Staging Concepts and SC Railing Company in the lease transaction.
WOOSTER, OHIO — Minnesota Ltd. has signed a 9,384-square-foot industrial lease in Wooster, about 35 miles southwest of Akron. The 7.4-acre property is located at 460 W. Henry St. Minnesota Ltd. is the contractor for Kinder Morgan Utopia Pipeline. This is one of several Minnesota Ltd. facilities and laydown yards throughout the area, supporting the 215-mile pipeline of natural gas. Bryce Custer of NAI Spring represented all parties in the lease transaction.
LOXLEY AND BIRMINGHAM, ALA. — Grandbridge Real Estate Capital has arranged three loans totaling $37.4 million for industrial facilities in Alabama. The financing includes a $13.1 million loan for I-10 Business Park, a 977,520-square-foot industrial/bulk warehouse complex in the Mobile suburb of Loxley; a $12.8 million loan for Oxmoor South, a 528,428-square-foot warehouse in Birmingham; and a $11.5 million loan for a 515,000-square-foot distribution center in Birmingham. William Silsbee of Grandbridge arranged all three loans through unnamed life insurance companies.
WALKER, MICH. — Monmouth Real Estate Investment Corp. has acquired a 343,483-square-foot industrial building in Walker, near Grand Rapids, for $32.1 million. The building is situated on 61 acres at 3466 Shippers Drive. The property is net leased to FedEx Ground Packaging System Inc. for 15 years.
BEDFORD, ANDOVER & BILLERICA, MASS. — Avison Young, as buyer representative for Atlantic Management, has arranged the purchase of three office/flex buildings in Massachusetts. Atlantic Management acquired the 211,377-square-foot portfolio from Wheelock-Novaya for $26.5 million. The assets are located at 15 Crosby Dr. in Bedford, 200 Bulfinch Dr. in Andover and 5 Federal St. in Billerica. Tenants at the properties include Ocular Therapeutix and Becton Dickinson. Scott Jamieson of Avison Young worked with Joe Zink and Steve Wyman of Atlantic Management on the buyer’s side, while Wheelock-Novaya was represented by Gary Kamin of Wheelock Street Capital and Scott Tully and Shawn Hawthorne of Novaya Real Estate Ventures.