Industrial

Berkeley Partners Refinances Five-Property Industrial Portfolio in Metro Dallas, Houston

by Amy Works January 13, 2017

DALLAS AND HOUSTON — Berkeley Partners has refinanced its five-property industrial portfolio in the metro Dallas area and Houston totaling 440,473 square feet. Jeff Sause, Kevin Mackenzie and Adam Herrin of HFF placed the $14.1 million, five-year, fixed-rate loan with LegacyTexas Bank on behalf of Berkeley Partners. The portfolio comprises 13 buildings at five properties in Beltwood Tech Center in Farmers Branch; Center Point Business Park in Mesquite; Glenville Business Center in Richardson; and Valpointe Business Park in Carrolton; and Cypress II Building Center in Houston. The multi-tenant properties are leased to companies such as Turn Around Communications, Security Control System, Arsham Gymnastics, Texas Metals Industrials, Murray Drywall and InterFET Corp.

January 13, 2017

Industrial Office Texas

Colliers Facilitates Sale of 41,170 SF Office, Warehouse Property in Houston

by Amy Works January 13, 2017

HOUSTON — Colliers International has arranged the sale of an office and warehouse building located within Park 10 at 16337 Park Row in Houston. Plano Vistas Ltd. sold the 41,170-square-foot property to 16337 Park Row LLC for an undisclosed price. Marshall Clinkscales of Colliers International represented the seller, while Marc Drumwright of Southwest Realty Advisors represented the buyer in the deal. Tom Hamilton of Alamo Title Co. handled the closing.

January 13, 2017

Industrial Northeast Pennsylvania

Hinerfield Commercial Brokers Sale of 51,000 SF Industrial Building in Scranton, Pennsylvania

by Amy Works January 13, 2017

SCRANTON, PA. — Hinerfield Commercial Real Estate Co. has arranged the sale of an industrial building, located at 1350 Von Storch Ave. in Scranton. 1350 Von Storch Avenue LLC acquired the property for an undisclosed price. Situated on three acres, the building features 50,000 square feet of industrial space and 1,000 square feet of office space. Richard Levy of Hinerfield represented the seller, Von Storch Avenue LLC, while Steve Farrell of Classic Properties represented the buyer in the transaction.

January 13, 2017

Industrial Loans New Jersey Northeast

Hartz Mountain Industries Receives $162M in Financing for Industrial Portfolio in North New Jersey

by Amy Works January 12, 2017

NORTH NEW JERSEY — Hartz Mountain Industries has received $162 million in financing for a 13-building industrial portfolio in North New Jersey totaling 2.67 million square feet. Thomas Didio and Connor Milanaik of HFF arranged the 10-year, fixed-rate loan through Hartford Investment Management Co. for the borrower. The 98 percent-leased buildings are located in Secaucus, Whippany, East Hanover, Bayonne, Harsbrouck Heights, Harrison and North Bergen. Additionally, the portfolio includes one speculative industrial building that is currently under construction in Linden. The portfolio includes 6 percent office space.

January 12, 2017

Industrial Loans Mixed-Use New Jersey Northeast Retail

NGKF Capital Markets Sells $24M Loan Portfolio for OceanFirst Bank

by Amy Works January 12, 2017

TOMS RIVER, N.J. — NGKF Capital Markets has arranged the sale of a $24 million loan pool from the OceanFirst Bank loan portfolio. Castlelake/Midwest Capital acquired the loans, which had an average size of $500,000. The loan pool was collateralized by a variety of industrial, retail and mixed-use assets located in nine southern New Jersey countries, including Atlantic and Ocean counties. Steven Schultz, Josh Malka and Tony Georgiev of NGKF Capital Markets represented the seller.

January 12, 2017

Industrial New Jersey Northeast

Cushman & Wakefield Arranges $12M Sale of Industrial Land Site in New Jersey

by Amy Works January 12, 2017

LOGAN TOWNSHIP, N.J. — Cushman & Wakefield has brokered the sale of a 415-acre land site located at 2858 U.S. Route 322 in Logan Township. F. Greek Development purchased the property from Bridgeport Disposal, a corporate affiliate of Clean Harbors Corp., for $12 million. Matthew Marshall, Jeffrey Williams, Timothy Cahill and Rory Murray of Cushman & Wakefield represented the seller. The buyer has in-house representation. The buyer intends to develop a 3 million-square-foot master-planned industrial park on the site. The property is midway between New York City and Washington, D.C., and offers direct access to Interstate 295, U.S. Route 322 and the New Jersey Turnpike.

January 12, 2017

Illinois Industrial Midwest

Conor Commercial Finalizes Tenants at New Industrial Business Park in Bolingbrook, Illinois

by Kristin Harlow January 12, 2017

BOLINGBROOK, ILL. — Black Horse Carriers and Trane U.S. Inc. have signed leases at Conor Commercial’s new Fountain Square Commerce Center. The 70-acre industrial business park is located at Remington Boulevard and South Schmidt Road in Bolingbrook, a suburb of Chicago. Black Horse Carriers, a provider of dedicated fleet and private fleet replacement services for companies that require specialized trucks and equipment, has leased all 109,354 square feet in Building 1. Trane U.S., which specializes in air-conditioning systems, has leased 44,179 square feet within Building 3. The building totals 162,394 square feet. George Pappas of Hartford Associates represented Black Horse Carriers in the lease transaction, while Jim Cummings and Brian Carroll of Newmark Grubb Knight Frank and Jim Estus and David Bercu of Colliers International represented the owner. Mike Magliano of Cushman & Wakefield represented Trane U.S., while Bercu and Estus represented Conor Commercial. McShane Construction Co. and Ware Malcomb, the original design/build team for the industrial business park, will complete the interior build-outs on behalf of both tenants.

January 12, 2017

Industrial Midwest Minnesota

Meritex Acquires 101,600 SF Industrial Building Near Minneapolis

by Kristin Harlow January 12, 2017

FRIDLEY, MINN. — Meritex has acquired Osborne Commerce Center in Fridley, approximately 10 miles north of Minneapolis. The purchase price was $5.5 million. The 101,600-square-foot industrial building is located at 197 Osborne Road. The Class A property is 100 percent leased. Steve Dorff of Meritex will manage the property. Meritex is a private real estate investment and management company.

January 12, 2017

Industrial Office Washington Western

Boeing Employee Credit Union Purchases Buildings at Gateway Corporate Center in Tukwila

by Nellie Day January 12, 2017

TUKWILA, WASH. — Boeing Employee Credit Union (BECU) has purchased eight buildings at the Gateway Corporate Center office and industrial park in Tukwila for an undisclosed sum. The 11-building center is situated at a junction between State Route 599 and Interstate 5 in the Seattle submarket. BECU previously owned two buildings at Gateway Corporate Center. The credit union built its corporate headquarters at the center in 1990. The new purchase has allowed BECU to increase its holdings in the office park to 589,000 square feet. Bill Frame and Richard Davidson of Kidder Mathews represented BECU. The firm’s Andy Miller and Matt Wood also represented the seller, a global investment manager, in this transaction.

January 12, 2017

California Industrial Western

RAF Pacifica Buys San Diego Manufacturing, Distribution Center for $3.7M

by Nellie Day January 12, 2017

SAN DIEGO — RAF Pacifica Group has purchased a 31,246-square-foot manufacturing and distribution center in the San Diego submarket of San Marcos for $3.7 million. The center is located at 1880 Diamond St. Known as La Costa Meadows, the facility features office space and HVAC production areas, as well as dock- and grade-level loading and 26-foot-clear heights. Isaac Little, Marko Dragovic and Chuck Hardy of Lee & Associates represented both the buyer and the seller, DonMar LLC, in this transaction.

January 12, 2017

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