FORT WORTH, TEXAS — Holt Lunsford has brokered the sale of an industrial property located at 4200 Lubbock Ave. in Fort Worth. TMM Lubbock Avenue LLC acquired the 90,000-square-foot property for an undisclosed price. Donnie Rohde and George Jennings of Holt Lunsford Commercial represented the undisclosed seller in the transaction.
WEST CHESTER, OHIO — Kosei, a distributor of aluminum wheels, has signed a lease to occupy 48,000 square feet in Building E at Port Union at Union Centre. The speculative warehouse building, owned by Becknell Industrial, is now fully leased. Port Union E includes 28-foot clear heights, ESFR sprinkler system, 14 docks and two drive-in doors. Polymet Corp. will occupy 90,750 square feet at the 138,750-square-foot building, which is scheduled for completion in early spring. Tony Sorgi of Plante Moran CRESA represented Kosei, while Jeremy Kraus of CBRE represented Becknell.
HOLLY, MICH. — Signature Associates has arranged the sale of a 27,420-square-foot industrial building in Holly, south of Flint. The sales price was not disclosed. The building is located at 4101 E. Baldwin Road. Zito Construction, a local construction company, was the buyer. Paul Saad and Joe Banyai of Signature Associates represented the seller, LN Real Estate LLC.
PEMBROKE PARK, FLA. — Atlanta-based Coca-Cola has signed a long-term lease renewal for 93,700 square feet of industrial space at Seneca Industrial Park, a Class A distribution and warehouse park in Broward County. Located at 2500 S.W. 32nd Ave. in Pembroke Park, Seneca Industrial Park is situated just west of Interstate 95 and directly north of the Miami-Dade County line. Jonathan Kingsley of Colliers International represented Coca-Cola in the lease renewal. Thomas Kresse, Ben Eisenberg, Walter Byrd and Carlos Gaviria of Transwestern represented the landlord, TH Real Estate, an affiliate of Nuveen (formerly known as TIAA Global Asset Management).
The Washington, D.C., metropolitan industrial market, spreading from Frederick County, Maryland to the north, Prince William County, Virginia to the south and as far west as Loudoun County, Virginia is ideally situated between I-95 and I-81 — major transportation corridors that allow shipments to easily reach much of the country. The industrial market has improved more quickly than other sectors and fairly dramatically to the point where much of the region can be described as land-constrained and under-supplied. Certain industrial sub-segments, such as data centers, have impacted the availability of warehouse and distribution space in key locations for optimal supply chain design. As of the third quarter of 2016, the area’s industrial market totaled 190 million square feet (inclusive of flex space), divided almost equally between the markets of Suburban Maryland (90.6 million square feet) and Northern Virginia (90.2 million square feet). The District of Columbia comprised 9.2 million square feet, and 1.5 million square feet was under construction region-wide. Approximately 4.2 million square feet has been absorbed year-to-date, and vacancy was 7.9 percent — a 250-basis point decrease from 10.4 percent reported as recently as year-end 2013. In comparison, the office market has ranged from 14 to 14.9 percent …
WILMER, TEXAS — Bob Moore Construction has broken ground for Interpoint Distribution Center in Wilmer. Developed by Houston-based Skyhawk Partners, the 350,000-square-foot industrial facility will feature a cross-dock design and 32-foot clear heights. Construction is currently in the site work phase, with completion slated for later this year.
DALLAS AND FORT WORTH, TEXAS — NAI Robert Lynn has brokered three separate sale transactions totaling 55,742 square feet of office and industrial space in Dallas and Fort Worth. In the first deal, 2408 Converse Street LP acquired 7,225 square feet of office and warehouse space at 1351 Crampton St. in Dallas. Robert Blankinshop of NAI Robert Lynn represented the undisclosed seller in the transaction. In the second transaction, Cantwell Industries purchased a 22,017-square-foot office building located at 2729 E. Loop 820 in Fort Worth. Todd Hubbard of NAI Robert Lynn represented the buyer, while Todd Hawpe of Transwestern represented the undisclosed seller. In the third transaction, Purchasing Solutions International acquired a 3,696-square-foot office building located at 1824 Eighth Ave. in Fort Worth. Colt Power of NAI Robert Lynn represented the buyer, while David Cason of Holt Lunsford represented the undisclosed seller in the deal.
WAYNE AND SOMERSET, N.J. — G.S. Wilcox & Co. has secured two loans totaling $12.7 million for two industrial properties in New Jersey. Gretchen Wilcox and Al Raymond of G.S. Wilcox & Co. arranged the financing for the borrowers. In the first transaction, the firm secured a $10 million loan for a 311,813-square-foot warehouse distribution center in Wayne. The borrower was an undisclosed developer. In the second deal, the company secured $2.7 million loan for the refinancing for a warehouse facility located in Somerset for an undisclosed developer borrower.
SCRANTON, PA. — Hinerfield Commercial Real Estate has arranged the acquisition of an industrial building located at 501 S. Washington Ave. in Scranton. MTM Real Estate Co. sold the 158,200-square-foot building to Wyoming Avenue Development for an undisclosed price. Banko Northeast currently occupies the property, which offers dry and wet warehouse distribution space and 13,000 square feet of office space. Dave Daris of Mericle Commercial Real Estate represented the seller, while John Cognetti of Hinerfield represented the buyer in the deal.
NEW YORK CITY — Coldwell Banker Commercial Reliable Real Estate has arranged the sale of an industrial property located between Schenk Avenue and Barbey Street in Brooklyn. An undisclosed buyer acquired the 76,000-square-foot property for $11 million. Built in 1914, the property features five buildings and two vacant parking lots. Joseph Hamdan and Mary Kae Higgins of Coldwell Banker Commercial Reliable Real Estate represented the undisclosed seller in the deal.