TAYLOR, MICH. — Signature Associates has arranged the sale of a 93,219-square-foot industrial building in Taylor, about 20 miles southwest of Detroit. The sales price was not disclosed. The property is located at 27000 Wick Road. Steve Gordon of Signature Associates represented the buyer, SCVR Holdings LLC. Brad Viergever, also of Signature Associates, represented the seller, MacLean Enterprises LLC.
ELGIN, ILL. — NKF Capital Markets has brokered the sale of a 74,613-square-foot industrial property in Elgin, about 35 miles northwest of Chicago. The sales price was not disclosed. The building is located at 440 S. McLean Blvd. Advance Engineering Corp. (AEC) has fully occupied the property since 2006. AEC provides the natural gas industry with fabricated meter sets and piping. Adam Marshall and Boris Shraybman of NKF represented the seller, a private ownership group. Bryan Bartlett of Newmark Grubb Phoenix Realty Group represented the buyer, Plymouth Industrial REIT Inc.
OAK CREEK, WIS. — Meridian Design Build has completed construction of a 48,200-square-foot warehouse expansion for GE Healthcare in Oak Creek, about 15 miles south of Milwaukee. The facility now totals 328,028 square feet. The project features LED lighting, six loading docks and two doors connecting the new space to the existing building. GE Healthcare uses the building as a repair operations center, and the expansion will be utilized to house spare and repaired parts for the company’s equipment. Construction began in late August 2017 and was completed in January. Harris Architects provided architectural services while Pinnacle Engineering completed civil engineering work. Exeter Property Group owns the building.
LOPATCONG AND PHILLIPSBURG, N.J. — CBRE has negotiated the sale of I-78 Logistics Park, a 365-acre master-planned development located along the Interstate 78/81 corridor in Lopatcong and Phillipsburg. Opus Investments/KTV Inc. sold the property to Bridge Development Partners for $43 million. Situated at 942 Memorial Parkway, the property has approvals in place for the construction of 3.8 million square feet of warehouse and distribution space. Brian Fiumara, Michael Hines, Brad Ruppel and Lauren Dawicki of CBRE National Partners represented the seller in the transaction.
FORT LAUDERDALE, FLA. — Bridge Development Partners, in a joint venture with Akard Street Partners LP, Banner Oak Capital Partners LP and Elion Partners, has broken ground on Bridge Point Riverbend, a 221,542-square-foot industrial building in Fort Lauderdale. The building is under construction at the intersection of Interstate 95 and Broward Boulevard. The joint venture acquired the 12-acre site in July for $10.4 million and secured $16.6 million in financing to develop the project. The speculative industrial building will feature 32-foot clear heights, rear-dock loading, an ESFR sprinkler system and a 1.4 to 1,000 parking ratio. The building will have the flexibility to accommodate tenants starting at 40,000 square feet.
CHICAGO — CoreSite Realty Corp. has acquired a two-acre land parcel in downtown Chicago to build CH2, a 175,000-square-foot data center. The four-story facility will support 18 megawatts of power capacity. CoreSite expects to begin construction on the project at the end of 2018 or the beginning of 2019. The company plans to construct the building in three phases, consisting of six megawatts of capacity per phase, with a total estimated cost of $190 million to $210 million. CH2 will be located one mile from CoreSite’s existing CH1 facility and network node. CoreSite plans to connect the two sites via fiber.
BRIDGEWATER AND BOUND BROOK, N.J. — Denholtz Associates has secured a five-year, $9.2 million refinancing from Provident Bank for industrial properties on Chimney Rock Road and Kearney Street in Bridgewater and Bound Brook. Denholtz owns 11 buildings, totaling 264,163 square feet of industrial space, at the 16-building Bridgewater Business Park. Current tenants include Zoned Inc., The Airsoft Factory and Bridgewater Marble. The financing will enable Denholtz to renovate the portfolio of properties. Paul Barrood of Provident Bank arranged the financing for Denholtz Associates.
GARLAND, TEXAS — Lee & Associates has negotiated a 40,000-square-foot industrial lease at 850 S. Jupiter Road in the northeastern Dallas metro of Garland. Brett Lewis and Corbin Blount of Lee & Associates represented the tenant, supply chain management firm Galaxy Global Logistics. Michael Peinado of Lincoln Property Co. represented the undisclosed landlord.
DURHAM, N.C. — The Dilweg Cos. has sold Regional Commerce Center, a 1.2 million-square-foot industrial complex located at 706 Ellis Road in Durham. The 46-building warehouse complex is situated on 65 acres directly adjacent to NC Highway 147. Constructed in 1929, the property operated as a tobacco drying warehouse until 2005. At the time of sale, Regional Commerce Center was 34 percent leased. Chris Norvell, Justin Good and Patrick Nally of HFF arranged the transaction on behalf of Dilweg. The name of the buyer and the sales price were not disclosed.
DALLAS — Equinix Inc. (NASDAQ: EQIX), a data center owner and operator based in Redwood City, Calif., has agreed to purchase Infomart Dallas from ASB Real Estate Investments for $800 million. The 1.6 million-square-foot Infomart Dallas is a highly visible data center facility located at 1950 N. Stemmons Freeway near the intersection of Interstate 35 and Dallas North Tollway. Equinix is the facility’s largest tenant, representing approximately 40 percent of lease revenues. The facility houses four of eight Equinix Dallas International Business Exchange (IBX) data centers. Infomart Dallas is home to 45 tenants, including global companies such as Bank of America and Verizon Wireless. The transaction includes developable land adjacent to the facility that will allow the new ownership to potentially increase the facility’s current capacity of 11MW of power to 40MW. The capital consideration will consist of $31 million in cash and $750 million in debt securities that will be paid out to ASB over a three-year period following closing, which is expected to occur in the second quarter. (The notes will be valued at roughly $769 million when adjusted to current trading value of Equinix’s outstanding bonds.) Washington, D.C.-based ASB, a division of ASB Capital Management LLC, originally …