Industrial

BKM Buys Northwest Business Center in Phoenix for $17.2M

by Nellie Day March 6, 2017

PHOENIX — BKM Capital Partners has purchased the Northwest Business Center, a 227,603-square-foot industrial facility in Phoenix, for $17.2 million. The warehouse is located at 2310-2440 W. Mission Lane, 9014-9034 N. 23rd Ave. and 9013-9033 N. 24th Ave. BKM plans to implement a $3.5 million capital improvement program at the property. Planned improvements include a new roof, new parking lot, improved HVAC system and upgrades to the exterior including paint, landscaping and signage. Robert Buckley of Cushman & Wakefield represented the undisclosed seller.

March 6, 2017

California Industrial Western

Ring Power Corp. to Occupy Industrial Space in Rancho Dominguez

by Nellie Day March 6, 2017

RANCHO DOMINGUEZ, CALIF. — Ring Power Corp. has leased a 70,640-square-foot industrial building in Rancho Dominguez. The facility is located at 18700 Laurel Park. The five-year lease is valued at $3.1 million. The new facility will allow the company to expand its California regional center. Ring is one of the largest Caterpillar dealers in the Southeast. Todd Taugner, Frank Schulz and David Prior of Klabin Co. represented the landlord, TA Associates, in this transaction.

March 6, 2017

Delaware Industrial Northeast

Kane Co. Brokers Sale of 80,000 SF Industrial Building in Dover

by Haisten Willis March 6, 2017

DOVER, DEL. – The Kane Co. has brokered the sale of an 80,000-square-foot industrial facility at 44 Industrial Park Drive in Dover. The property is the former warehouse of Kessler Sales and Distribution, a wholesale distributor of pipe, valves, fittings and water heaters. Peter Billipp of The Kane Co. represented the seller and procured the buyer.

March 6, 2017

Industrial Michigan Midwest

O.ME.R Enters Into 12,633 SF Industrial Lease in Shelby Township, Michigan

by Kristin Harlow March 6, 2017

SHELBY TOWNSHIP, MICH. — O.ME.R North America has entered into a 12,633-square-foot industrial lease in Shelby Township in western Michigan. The Italian-based manufacturer of railway interiors will occupy the space at 50570 Wing Drive. This is the company’s first location in the United States. Kris Pawlowski of Signature Associates represented the tenant in the lease transaction.

March 6, 2017

Industrial Midwest Wisconsin

Dickman Co. Arranges Sale of 7,700 SF Industrial Building in West Allis, Wisconsin

by Kristin Harlow March 6, 2017

WEST ALLIS, WIS. — The Dickman Co. Inc./CORFAC International has arranged the sale of a 7,700-square-foot industrial building in West Allis, a suburb of Milwaukee. P & Z Properties purchased the building, located at 11408 W. Lincoln Ave., from Golden Site Management LLP. Samuel M. Dickman Jr. and Samuel D. Dickman of the Dickman Co. represented the seller in the transaction, while Brett Garceau of MLG Commercial represented the buyer.

March 6, 2017

Industrial Southeast Virginia

Finmarc Purchases 15-Building Industrial Portfolio in Northern Virginia for $58M

by John Nelson March 6, 2017

WOODBRIDGE AND FREDERICKSBURG, VA. — Finmarc Management Inc. has purchased a 15-building, 750,000-square-foot industrial portfolio in northern Virginia’s I-95 corridor from Stewart Investment Co. for $58 million. Contained primarily within the Featherstone Industrial Park in Woodbridge and including a property in Fredericksburg, the portfolio was 91 percent leased at the time of sale to more than 25 tenants, including Coleman American Moving Services, Joe Moholland Moving Inc., The United States General Services Administration, Arven Moving & Storage and Atlantic Transfer Inc. Marc Rampulla, Mark Levy and Jay Wellschlanger of JLL were the brokers of record in the transaction. Finmarc has retained John Detleff of JLL to manage leasing activities for the portfolio.

March 6, 2017

Florida Industrial Southeast

Newmark Grubb Phoenix Arranges 400,928 SF Industrial Lease in Jacksonville

by John Nelson March 3, 2017

JACKSONVILLE, FLA. — Newmark Grubb Phoenix Realty Group (NGPRG) has arranged a new 400,928-square-foot industrial lease at Northport Logistics Center, a nearly 900,000-square-foot facility located at 11530 New Berlin Road in Jacksonville. Dan Stover, Bryan Bartlett and John Richardson of NGPRG represented the landlord, Real Capital Solutions, in the lease deal. The tenant, Jacksonville-based Grimes Logistics Services Inc., will use the space for warehouse storage and distribution. Grimes Logistics is a third-party logistics company founded in 1972. NGPRG is actively marketing the remaining 471,699 square feet of space at Northport Logistics Center for lease.

March 3, 2017

Illinois Industrial Midwest

Midwest Industrial Funds Purchases 106,000 SF Industrial Portfolio in Chicago Suburb

by Kristin Harlow March 2, 2017

BATAVIA, ILL. — Midwest Industrial Funds has purchased a four-building industrial portfolio from a private seller. The purchase price was not disclosed. The properties total 106,000 square feet and are all located in Batavia, a suburb of Chicago. The addresses are 1705-1775 Hubbard Ave., 900 Paramount Parkway, 902 Paramount Parkway and 950 Paramount Parkway in the Fox Valley Center for Industry Business Park. The properties range from 7,000 square feet to 18,000 square feet. The portfolio was approximately 75 percent leased to eight different tenants at the time of acquisition. Midwest Industrial plans to complete improvements to the parking lot, exterior façade and interior units.

March 2, 2017

Industrial Loans Massachusetts Northeast

Transwestern Arranges $28M in Refinancing for Five-Building Industrial Park in Boston

by Amy Works March 2, 2017

BOSTON — Transwestern has arranged $28 million in refinancing for Boston | Dedham Commerce Park, a five-building industrial park located at 63, 65, 67, 75-101 and 91 Sprague St. in Boston. Chris Skeffington and Andrew Stone of Transwestern arranged the financing through East Boston Savings Bank for the borrower, First Highland Management and Development Corp. The 654,050-square-foot park was 82 percent leased to more than 30 tenants, including RR Donnelly, Dancing Deer Baking Co. and Sky Zone Boston, at the time of financing.

March 2, 2017

Industrial Nevada Western

Zazzle Leases 180,792 SF Industrial Facility in Nevada

by Nellie Day March 1, 2017

RENO, NEV. — Zazzle has leased a 180,792-square-foot industrial facility at the South Valley Commerce Center in Reno. The space is located at 811 Sandhill Road. Zazzle currently operates three facilities in California. The ecommerce company began searching for a new manufacturing facility about a year ago. The landlord is a joint venture between Panattoni and Hillwood Investment Properties. Dave Simonsen of Kidder Mathews and John McKenna of Newmark Cornish & Carey represented Zazzle. Michael Nevis, Michael Hoeck, and Steve Kucera, also of Kidder Mathews represented the landlord.

March 1, 2017

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