Industrial

CBRE Secures $17.5M in Debt, Equity for Speculative Office, Industrial Development in Metro Austin

by Amy Works November 16, 2016

CEDAR PARK, TEXAS — CBRE has arranged $13.6 million in acquisition and development financing and $3.9 million in equity for Brushy Creek Corporate Center, a speculative office and industrial development in Cedar Park, about 20 miles northwest of Austin. The development is a two-building, 231,180-square-foot property. Mike Landon and David Aaronson of CBRE arranged the loan for the borrower, IGX Brushy Creek LLC. American National Insurance Co. provided the financing, while ANICO Eagle LLC, a joint venture partner in the development project, provided the equity for the project.

November 16, 2016

Indiana Industrial Midwest

General Mills Sells 455,000 SF Manufacturing Facility in Indiana to Investor Group

by Kristin Harlow November 16, 2016

NEW ALBANY, IND. — General Mills has sold a 455,000-square-foot manufacturing plant in New Albany, just across the state border from Louisville, Ky., to a joint venture of New Mill Capital Holdings and Tiger Capital Group. The sales price was not disclosed. The new owners intend to auction the remaining equipment in early 2017, and remarket the real estate for manufacturing uses. Located at 707 Pillsbury Lane, the plant sits on approximately 34.5 acres. The building has numerous loading docks and access points and can be adapted for a single occupant or multiple tenants. Jeff Counsell of Global Food Properties represented General Mills in the transaction and will continue to represent the new owners.

November 16, 2016

Industrial Nevada Western

Majestic Breaks Ground on Spec Warehouse Center in Las Vegas

by Nellie Day November 15, 2016

LAS VEGAS — Majestic Realty Co. has broken ground on a 295,500-square-foot speculative warehouse distribution center at its Beltway Business Park in Las Vegas. The warehouse will be situated just south of the Southern Beltway at the intersection of Jones Boulevard and Badura Avenue. Notable tenants at the park include Switch Communications, GES, NV Energy, Brady Industries and MGM. Thomas & Mack Development Group served as development partner on this project.

November 15, 2016

Industrial Texas

American Tire Distributors to Open 756,000 SF Distribution Center in Fort Worth

by Amy Works November 15, 2016

FORT WORTH, TEXAS — American Tire Distributors plans to open a 756,000-square-foot regional distribution center at Alliance Gateway 60. The facility is situated within the 18,000-acre, master-planned, mixed-used AllianceTexas development in Fort Worth. Adam Faulk and Ryan Browder of Jackson Cooksey represented American Tire Distributors, while Tony Creme and Bill Burton provided in-house representation for the owner, Hillwood Properties, in the deal. American Tire Distributors is expected to move into the building in early 2017.

November 15, 2016

Industrial Texas

Stream Realty Partners Brokers Two Industrial Sales in Texas Totaling 19,344 SF

by Amy Works November 15, 2016

ARLINGTON AND IRVING, TEXAS — Stream Realty Partners has arranged two sales of industrial properties in Texas totaling 19,344 square feet. In the first deal, Howell Properties LLC sold a 12,344-square-foot warehouse property located at 2901 Galleria Drive in Arlington to NP Arlington Industrial LLC for an undisclosed sum. Matt Dornak and Luke Davis of Stream Realty Partners represented the seller, while Coy E. Garrett & Associates represented the buyer in the transaction. In the second deal, Midnight Mechanics Inc. acquired a 7,000-square-foot industrial property located at 1720 Peters Road in Irving from BLJC PPTIES LCC for an undisclosed price. Hanes Chatham of Stream Realty Partners represented the buyer, while Henry S. Miller Brokerage represented the seller in the transaction.

November 15, 2016

Industrial Loans Massachusetts Northeast

CBRE/NE Assists NorthBridge Partners in Financing Industrial Facility in Norton, Massachusetts

by Amy Works November 15, 2016

NORTON, MASS. — On behalf of NorthBridge Partners, CBRE/New England’s Debt & Structured Finance team has arranged $19 million in acquisition financing for a warehouse and distribution facility located at 192 Mansfield Ave. in Norton. The 347,000-square-foot property is fully leased to Advance Auto Parts Inc. Kyle Juszczyszyn, Chris Coutts and Lenny Pierce of CBRE/NE secured the financing for the borrower.

November 15, 2016

Illinois Industrial Midwest

St. Clair County Breaks Ground on $8.1M River Bridge District Project in East St. Louis, Illinois

by Kristin Harlow November 15, 2016

EAST ST. LOUIS, ILL. — St. Clair County has started construction on the $8.1 million River Bridge District project. The project is focused on transforming a key section of the East St. Louis Riverfront to draw industry and jobs. This is the final piece of highway infrastructure improvements already made by state and federal partners, including the relocation of Illinois Route 3. A comprehensive overhaul of Front Street from Trendley Avenue in East St. Louis to where the road ends in Fairmont City is planned, as well as improvements to connecting roadways.

November 15, 2016

Illinois Industrial Midwest

Venture One Acquires 51,773 SF Industrial Building in Woodridge, Ill.

by Kristin Harlow November 15, 2016

WOODBRIDGE, ILL. — Venture One Real Estate has acquired a 51,773-square-foot industrial building in Woodridge, a suburb of Chicago. The sales price was not disclosed. The building, located at 10321 Werch Dr., is 75 percent occupied. Venture One acquired the building through its acquisition fund, VK Industrial III LP, a partnership between Venture One and Kovitz Investment Group. Jim Estus of Colliers International represented the seller in the transaction.

November 15, 2016

Industrial Michigan Midwest

Colliers International Arranges Sale of 16,848 SF Industrial Facility in Troy, Michigan

by Kristin Harlow November 15, 2016

TROY, MICH. — Colliers International has arranged the sale of a 16,848-square-foot industrial facility located at 2701 Industrial Row Dr. in Troy. The sales price was not disclosed. The facility will serve as the new corporate headquarters for Goldfish Swim School Franchising LLC, a swim school expanding across the United States. Solid Concepts previously used the building as a manufacturing facility. Peter E. Kepic, Peter J. Kepic, Robert Badgero and Steven Badgero of Colliers International Detroit represented the buyer, Goldfish Swim School Franchising.

November 15, 2016

Illinois Industrial Midwest

Cushman & Wakefield Arranges Sale of 94,682 SF Industrial Facility in Bloomingdale, Illinois

by Kristin Harlow November 14, 2016

BLOOMINGDALE, ILL. — Cushman & Wakefield has arranged the sale of a 94,682-square-foot industrial facility located at 221 Covington Dr. in Bloomingdale, a western suburb of Chicago. The sales price was not disclosed. University Beauty Products Inc. purchased the recently renovated facility, which is located near the company’s headquarters in Glendale Heights. The facility sits within the Covington Corporate Center business park and features 19,115 square feet of premium Class A office space, 25-foot clear heights and five enclosed truck docks. Eric Fischer, Keith Puritz and Brett Kroner of Cushman & Wakefield represented Universal Beauty Products in the transaction. Jeff Fischer and Adam Naparsteck of NAI Hiffman represented the seller, High Street Realty Company LLC.

November 14, 2016

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