SHARON, MASS. — Avison Young has brokered the sale of an industrial/flex property located at 6 Merchant St. in Sharon. Franchi Merchant Street LLP acquired the property for $2.9 million, or $97 per square foot, from Legacy Real Estate Ventures. The 30,300-square-foot property is fully leased to six tenants. Michael Smith, Scott Jamieson, Brandon Dickason and Bill Sullivan of Avison Young represented the seller in the transaction.
SAN ANTONIO — San Antonio Commercial Advisors (SACA), an independently owned and operated member of the Cushman & Wakefield Alliance, has arranged the sale of 4702 Goldfield Drive, an industrial building in northeast San Antonio. Local grocery chain HEB purchased the asset for an undisclosed price. SACA’s Ed Cross and Zach Dobin represented the seller of the 80,000-square-foot manufacturing facility.
CARROLLTON, TEXAS — Global colocation solutions provider CyrusOne has expanded its Carrollton data center with the recent completion of a new data hall, adding nearly 60,000 square feet and 4.5 megawatts of power capacity. The company’s Carrollton data center is the largest facility of its kind in the state, featuring a 670,000-square-foot campus. The Carrollton data center also houses the infrastructure and 911 dispatch center for Carrollton, Coppell, Farmers Branch and Addison, Texas. The communities have consolidated 911 dispatch services to form the North Texas Emergency Communications Center (NTECC).
AUSTIN, TEXAS — Karlin Real Estate has sold a 302,604-square-foot industrial building located at 13201 McCallen Pass in north central Austin to General Motors. GM acquired the building to complement its existing Austin IT Innovation Center at 717 E. Parmer Lane. The facility is located within Sector 6, the first phase of the 400-acre master planned technology and office park being developed by Los Angeles-based Karlin and Dallas-based Trammell Crow Co. Previously occupied by Dell Inc., Sector 6 comprises three existing institutional quality industrial buildings totaling approximately 1 million square feet. All three buildings have been leased or sold. Sector 6’s Other tenants include Allergan, Brown Traffic and Marco Fine Arts. Trammell Crow is completing the first phase of new construction at PARMER, a three-story, 192,000-square-foot office building and has plans to break ground on an identical building later this year. Both buildings are designed for single- or multi-tenant occupancy, and will feature 64,000-square-foot floor plates. PARMER is currently zoned for several million square feet of office, industrial, hotel and retail uses. The development will feature a central amenity area that will include covered outdoor dining and seating areas, extensive hardscape improvements, miles of jogging/walking paths and Wi-Fi enabled social …
DALLAS — NAIOP has selected Majestic Realty Co. as its 2015 Developer of the Year. Headquartered in Southern California, with regional offices throughout the United States, Majestic is the largest privately held industrial developer in the country. Majestic completed nine new buildings in the past year, adding more than 6 million square feet and increasing its ownership portfolio to 78 million square feet. Majestic also recently completed a 2,000-acre land acquisition in Laredo, Texas. Majestic’s services include land acquisition, entitlement, design/construction, finance, leasing and property management.
CHESHIRE, CONN. — O,R&L Commercial has arranged the lease of 12,760 square feet at 150 Sandbank Road in Cheshire. The Rankin Group Inc. will use the industrial/flex space to expand its services in New England and the New York/Mid-Atlantic region. Rich Guarlnick of O,R&L Commercial represented the landlord, Marshall Enterprises LLC, while Tim D’Addabo of Cushman & Wakefield represented the tenant in the transaction. Additional terms of the lease were not released.
AUSTIN, TEXAS — Fashion Forms, a producer of specialty bras and accessories in the U.S., Canada and Europe, is relocating to northwest Austin from Ventura, Calif., in August. Founded by Ann Deal in 1993, Fashion Forms produces products that aim to help women wear any look with comfort, confidence and style. The company holds 14 patents and 18 trademarks for designs and Fashion Forms products are sold in more than 9,000 stores worldwide. The firm will move into a mix of office and warehouse space totaling 90,000 square feet at McNeil 1, located at 12317 Technology Blvd. Mark Emerick, John Barksdale and Darryl Dadon of CBRE’s Austin office represented the landlord, PS Business Parks. Fashion Forms represented itself in lease negotiations. McNeil 1 is now 79 percent leased.
CHICAGO — Owner and developer GlenStar Properties has begun construction on a new rooftop terrace on the 23rd floor of the Chicago Board of Trade Building complex. The 4,300-square-foot deck will be located on the east side of the south building. It will accommodate up to 150 guests and feature a 20-foot illuminated water wall with bubblers, a 10-foot illuminated planter with bubbler, Cozumel curver sofas and sectionals, leather benches and wood deck tiling. The project is slated for completion later this year. Since acquiring the building, GlenStar has embarked on a significant capital campaign aimed at breathing new life into the landmark property and attracting a more diverse tenant base.
FRANKLIN COUNTY, PA. — Kennedy Funding Financial LLC has closed a $3.4 million loan for a multi-building industrial property located in Franklin County. The two-year interest-only loan was secured by Foremost Realty Holdings, an affiliate of Foremost Industries. The lender was Foremost Realty Lender and the funding will be serviced by Kennedy Funding. The undisclosed borrower will use the proceeds to pay off an existing mortgage and secure a first lien. The collateral consists of a 260,000-square-foot, three-building property situated on 52.6 acres at 6100 Buchanan Trail West in Montgomery and Peters Townships, Franklin County.
RENO, NEV. – Bi Nutraceutical has leased a 140,000-square-foot distribution space in the Reno submarket of McCarran. The space is located at 625 Waltham Way, within the Tahoe-Reno Industrial Center. Nutraceutical is the largest supplier of botanical ingredients in the U.S. The landlord, Global Logistic Properties, was represented by J. Michael Hoeck, Dave Simonsen, Steve Kucera and Michael Nevis of the NAI Alliance Industrial Properties Group.
