TROY, MICH. — Signature Associates has arranged the sale of a 15,040-square-foot industrial building in Troy. The sales price was not disclosed. The property is located at 1350 Piedmont Drive. Paul Hoge and John Boyd of Signature Associates represented the seller, Wayne Huron Piedmont LLC. Joe Hamway, also of Signature Associates, represented the buyer, Falcon SJD Investments LLC.
SPRING HOUSE, PA. — MRA Group has acquired the former Rohm & Haas research and development campus located at 727 Norristown Road in the Philadelphia suburb of Spring House. Now known as the Spring House Technology Park, the complex spans 591,000 square feet across 11 buildings. The 133-acre campus is located near the Fort Washington exit of the Pennsylvania Turnpike. MRA will renovate the park to include office and laboratory facilities, a hotel, co-working space, on-site daycare, a gym and a 40,000-square-foot retail village. The property was initially acquired in 1962 by Rohm & Haas Co. and developed into Spring House Technical Center, a research and development campus. The existing buildings were constructed between 1963 and 1995, with 75 percent dedicated to laboratory use and the rest used for offices. The Dow Co. acquired Rohm & Haas in 2012, and by 2015 Dow relocated its employees to a new facility in Collegeville, Pa. In 2015 MRA Group entered into discussions with Dow to acquire the property in its entirety, with closing occurring in late March 2017.
CARLSBAD, CALIF. — Bemer USA has purchased a 19,601-square-foot industrial flex building in Carlsbad for $2.5 million. The building is located at 1989 Palomar Oaks Way. It includes 5,000 square feet of warehouse space. Jeff Abramson of Lee & Associates represented Bemer USA. NGKF’s Brent Bohlken represented the seller, RM-USE LLC, in this transaction.
GRAND PRAIRIE, TEXAS — Bradford Commercial Real Estate, a Dallas-based brokerage and management firm, has negotiated the sale of Northridge Business Center, a 37,400-square-foot industrial flex building located at 2002-2006 State Highway 360 in the Dallas-Fort Worth metro of Grand Prairie. Michael Spain and Kevin Santaularia of Bradford Commercial represented the seller, Northridge LLC, in the transaction. Chapald-BC LLC, a New Mexico-based firm, purchased the property.
JANESVILLE, WIS. — Upper Lakes Foods has entered into a 100,063-square-foot industrial lease in Janesville, about 40 miles south of Madison. The distributor of fine food products will occupy the space located at 4298 Capital Circle. Bill Langhoff of Colliers International brokered the lease transaction.
PAWTUCKET, R.I. — Webster Bank has secured a $7.2 million portfolio financing deal for Isle Brewers Guild, a craft beer cooperative in Pawtucket co-founded by Devin Kelly and Jeremy Duffy. The Guild is designed to deliver additional capacity, efficiency and control to local brewers. Webster Bank provided $4 million of financing to the Rhode Island Industrial Facilities Corp. in conjunction with a guarantee from the Rhode Island Industrial Recreational Building Authority by purchasing two bonds: one 25-year series and real estate for about $1.4 million plus a 15-year series of $2.6 million for machinery and equipment to establish a brewing operation. Webster also provided $3.1 million under the U. S. Small Business Administration’s 504 program. This portion of the financing consists of $2.8 million of bridge financing and a $350,000 working capital line of credit. Anthony Capuano Jr. of Webster Bank led the transaction.
SOUTH BRUNSWICK, N.J. – CBRE has arranged 450,000 square feet of leases at 301 Middlesex Center Blvd., a Class A industrial building in South Brunswick — bringing the newly constructed, speculative facility to full occupancy The transactions include a 250,000-square-foot lease with CDS Logistics and a 200,000-square-foot lease with Best Logistics. CBRE’s Steven Beyda, Mindy Lissner and Scott Belfer arranged the transaction on behalf of landlord IDI Gazeley, an industrial real estate developer. Beyda, Kevin Dudley and William Waxman of CBRE represented Best Logistics. Joe Nitti of Cresa represented CDS. Located near the New Jersey Turnpike, 301 Middlesex includes 36-foot ceiling heights, ESFR sprinkler systems and cross-docked loading.
WILMINGTON, DEL. — Grandbridge Real Estate Capital has arranged a $44.5 million first mortgage loan secured by an eight-property, 4,400-unit self-storage portfolio in Wilmington. Michael Balan of Grandbridge originated the refinancing transaction for Storage Rentals of America. The fixed-rate loan was funded through BB&T Real Estate Funding and features a 10-year term and 25-year amortization schedule.
MIAMI — Grandbridge Real Estate Capital has closed a $17.3 million loan for a 375,000-square-foot industrial facility in Miami. The three-building complex was 98 percent leased at the time of financing. Philip Carroll of Grandbridge’s Miami office arranged the seven-year loan with a sub-4 percent fixed interest rate and a 30-year amortization schedule through an unnamed life insurance company.
STAFFORD, TEXAS — Mission Capital Advisors has arranged $10.5 million in first mortgage financing for Avera Commerce Center, a 16-building industrial complex in Stafford, a southwestern suburb of Houston. Situated on 14.5 acres at 3928-4012 Bluebonnet Drive, the property measures 249,823 square feet. Ari Hirt, Steven Buchwald, Eugene Shevaldin, Lexington Henn and Will Sledge of Mission Capital arranged the loan on behalf of the borrower, Raith Capital Partners. Raith will use a portion of the non-recourse loan to make capital improvements to Avera Commerce Center.
