Industrial

JLL Negotiates 37,715 SF Office/Industrial Lease in Metro Houston

by Taylor Williams August 24, 2017

SUGAR LAND, TEXAS — JLL has negotiated a 37,715-square-foot office/industrial lease at 13000 Executive Drive in Sugar Land for INOVA Geophysical, a Houston-based seismic equipment and systems provider. The property offers 42,000 square feet of office space and 12,000 square feet of warehouse space, as well as 15-ton crane capability and 24-foot clear heights. David Buescher and Jeff Venghaus of JLL represented the tenant in the lease negotiations. Ryan Wasaff of The Welcome Group represented the landlord. The space will serve as INOVA Geophysical’s new headquarters.

August 24, 2017

Industrial Texas

HSM Arranges Sale of 23,000 SF Warehouse in Dallas

by Taylor Williams August 24, 2017

DALLAS — Henry S. Miller Brokerage Co. (HSM) has arranged the sale of a 23,000-square-foot warehouse located at 2909-2919 Blystone St. in the Walnut Hill Industrial District in Dallas. Lane Kommer of HSM represented the seller, BLY Realty, in the transaction. The buyer, Molthan Construction, was represented internally.

August 24, 2017

Industrial Loans New Jersey Northeast

HFF Arranges $23.4M Refinancing for Industrial Property in Northern New Jersey

by Jaime Lackey August 23, 2017

CLIFTON, N.J. — Holliday Fenoglio Fowler (HFF) has arranged a $23.35 million loan for a partnership between Tulfra Real Estate and The Hampshire Companies to refinance a 204,000-square-foot industrial building. The 10-year, fixed-rate loan with Citizens Bank will be used to refinance the existing construction financing on the property, which is located at 65 South Industrial Street in the Passaic County community of Clifton. Situated on 11 acres, the property is located just off Route 3, less than two miles from the Garden State Parkway and seven miles from the New Jersey Turnpike. The industrial building recently underwent a multi-million dollar renovation that included raising the roof to provide a 27-foot ceiling height, new exterior skin, adding six new loading docks (for a total of 24), refinishing the warehouse floors, installing new lighting and sprinklers, adding new mechanical and electrical systems and fitting out 28,000 square feet of office space. The speculative redevelopment project is now fully leased to Damascus Bakeries, which will use the building as a second manufacturing facility and its corporate headquarters. Damascus will lease its space for a 15-year term and will also take a 50-percent ownership interest in the borrower entity. The HFF team included …

August 23, 2017

Industrial Loans New Jersey Northeast

Cushman & Wakefield Arranges $15.3M Financing for I-80 Distribution Center in New Jersey

by Jaime Lackey August 23, 2017

Paterson, N.J. — Cushman & Wakefield has assisted a joint partnership between Camber Real Estate Partners and Advance Realty in procuring $15.34 million of financing for the acquisition of 1200 Madison Avenue, a 245,529-square-foot institutional quality industrial building located immediately off Interstate 80 in Paterson. First Bank provided the financing. The property is currently 100 percent leased, with M. Tucker and SupplyOne serving as the anchor tenants. The building features 30-foot ceiling heights and 21 loading positions as well as ample car and trailer parks. A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Sridhar Vankayala and Noble Carpenter III represented the joint partnership between Camber Real Estate Partners and Advance Realty. Ryan Larkin of Cushman & Wakefield represented the seller and procured the buyer, working with Cushman & Wakefield’s Metropolitan Area Capital Markets Group team members Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer and Kyle Schmidt, as well as industrial leasing specialist Andrew Siemsen.

August 23, 2017

Industrial Midwest Wisconsin

Colliers Arranges Sale of 879,704 SF Industrial Park in Cudahy, Wisconsin

by Kristin Harlow August 23, 2017

CUDAHY, WIS. — Colliers International has arranged the sale of Mitchell Industrial Park in Cudahy, about seven miles south of Milwaukee. The sales price was not disclosed. The 10-building, 879,704-square-foot park is located near the intersection of College and Pennsylvania avenues. A joint venture between WHI Real Estate Partners LP and BK Ace Industrial Holdings LLC sold the property to Deerfield, Ill.-based Oak Realty Group Inc. BK Ace Industrial Holdings had previously purchased the business park from CenterPoint Properties in 2014. Notable tenants include DHL-Air Express International, Menasha Packaging, Mattress Firm and National Packaging. Tom Shepherd, Jeff Devine and Steven Disse of Colliers brokered the transaction. Pat Hake and Bill Langhoff of Colliers will manage leasing efforts.

August 23, 2017

Illinois Industrial Loans Midwest Self-Storage

Associated Bank Provides $17.5M Loan for Self-Storage Project in Chicago’s Wicker Park

by Kristin Harlow August 23, 2017

CHICAGO — Associated Bank has provided a $17.5 million acquisition and construction loan for a self-storage project in Chicago’s Wicker Park. A joint venture between JSM Ventures Inc. and CEDARst Cos. plans to renovate the non-retail floors of two former office buildings located at 1279 N. Milwaukee Ave. and 1300 N. Ashland Ave. Upon completion later this summer, the self-storage facility will total 86,660 square feet and 1,273 units. The two buildings, originally constructed in 1928, are part of the 325,000-square-foot Wicker Park Commons shopping center. Centrum Properties sold the office portion of the buildings, totaling approximately 156,000 square feet, to the joint venture. RREEF will continue to own the ground-floor retail space as a separate condominium. Additionally, Neighborhood Housing Services of Chicago Inc. will remain in place on the fourth floor. Daniel Barrins of Associated Bank originated the loan.

August 23, 2017

Industrial Midwest Minnesota

Kraus-Anderson Breaks Ground on 50,000 SF Addition to Banner Engineering Headquarters in Minneapolis

by Kristin Harlow August 23, 2017

MINNEAPOLIS — Kraus-Anderson Construction Co. has broken ground on a research and development building at Banner Engineering’s headquarters in Minneapolis. The new building will enable the industrial automation technology provider to create more than 225 jobs and accelerate new product development for smart sensor technologies, according to Banner Engineering. The property is located at 9714 10th Ave. North. Designed by HCM Architects and slated for completion in summer 2018, the 50,000-square-foot addition will include labs, training spaces and over 44,000 square feet of new office space.

August 23, 2017

Illinois Industrial Midwest

Cawley Chicago Brokers Sale of 143-Acre Land Site in Channahon, Illinois

by Kristin Harlow August 23, 2017

CHANNAHON, ILL. — Cawley Chicago has brokered the sale of a 143-acre land site in Channahon, a southwest suburb of Chicago. The sales price was not disclosed. A joint venture partnership led by Venture One Real Estate acquired the land, which is part of a phased acquisition that will ultimately total 292 acres. Venture One also unveiled plans for the groundbreaking of Crossroads 55 Business Park and the commencement of a 1 million-square-foot speculative warehouse facility. The site is situated in the I-80/Joliet Corridor submarket with immediate access to the Route 6 and Bluff Road interchanges on I-55. Joshua Hearne of Cawley Chicago represented the buyer in the transaction. Marquette Properties represented the undisclosed seller.

August 23, 2017

Connecticut Industrial Northeast

Brennan and Arch Street Form Joint Venture to Acquire Industrial Properties

by Jaime Lackey August 22, 2017

GREENWICH, CONN. — Brennan Investment Group, a U.S.-based real estate firm, and a client of Arch Street Capital Advisors, a Greenwich, Conn.-based real estate investment advisory firm, have formed a fifth joint venture to acquire, own and manage a substantial portfolio of industrial properties throughout the United States. The venture will focus on acquiring individual industrial assets in major markets in the United States that are critical facilities to tenants and leased on a long-term basis. In conjunction with the formation of the venture, Goldman Sachs provided the venture with a financing line of credit facility to enhance the venture’s efficiency in closing both portfolio and individual asset purchases. The new venture has already purchased nearly 900,000 square feet of industrial real estate in Dallas; Charlotte, N.C.; and Green Bay, Wis. Brennan and Arch Street have collectively acquired 77 properties comprising more than 12 million square feet in the single-tenant, net lease sector during the last five years. The companies seek net leased industrial investments meeting the following criteria: location in the top 100 U.S. markets, remaining lease term of at least 10 years, non-investment grade credits, and significant facility investment by the tenant. They are interested in all industrial …

August 22, 2017

Industrial North Carolina Southeast

GCP Purchases 464,947 SF Industrial Property in Charlotte for $22M

by Camren Skelton August 22, 2017

CHARLOTTE, N.C. — Birmingham, Ala.-based Graham Commercial Properties (GCP) has acquired 10000 Twin Lakes Parkway, a 464,947-square-foot industrial property in Charlotte, for $22 million. Constructed in 1992, the Class A property is situated at the junction of Interstates 77 and 485. At the time of sale, 10000 Twin Lakes was fully leased to Schleich North America, a German producer of hand-painted toys, and Ingersoll Rand, a Dublin, Ireland-based industrial supply company. The seller was not disclosed.

August 22, 2017

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