GROVELAND, FLA. — CBRE has arranged a 144,000-square-foot industrial lease at 19925 Independence Blvd. in Groveland. The space is located within the former Circuit City distribution building that totals 706,500 square feet. David Murphy and Monica Perez Wonus of CBRE represented the landlord, Real Capital Solutions, in the lease transaction. Cameron Maness of Transwestern represented the tenant, Pathmark Transportation.
MILWAUKEE — Brennan Investment Group LLC has acquired a 119,040-square-foot, multi-tenant industrial property in Milwaukee for an undisclosed price. The warehouse and distribution facility is located within the Bradley Industrial Park at 8301 W. Parkland Court. The property was 95 percent occupied at the time of sale. The seller in the transaction was undisclosed.
ELK GROVE VILLAGE, ILL. — Elk Grove Village-based Brown Commercial Group has arranged three industrial leases in metro Chicago totaling 20,139 square feet. In the first transaction, Jim Wagner Plumbing leased 9,000 square feet at 51 Eisenhower Lane South in Lombard. Mike Antonelli of Brown Commercial Group represented the tenant in its relocation. Joseph Gatto of Cushman & Wakefield represented the landlord, TA Realty Associates. In the second deal, Trinity Scurto of Brown Commercial Group represented Breda Moving Co., which leased 7,639 square feet to Almtan Midwest. Chuck Hauger of @properties Commercial represented the company in its expansion to 801 Dave Pate Drive in Roselle. Scurto also represented Kane Brandein in its lease of the last 3,500-square-foot space in a 21,000 square-foot building to VIP Limousine, which will occupy Unit F at 101 Kelly Road in Elk Grove Village. John Carbone represented the tenant.
BOSTON — Collier International has arranged the renewal of a 152,000-square-foot lease at 100 Meadow St. in Boston for HD Supply. The industrial facility features 30-foot clear ceiling heights, an ESFR sprinkler system and numerous loading docks. The warehouse property was recently acquired by Newton, Mass.-based National Development. Austin Smith of Colliers lead the transaction.
LIBERTYVILLE, ILL. — PREMIER Design + Build LLC has completed the construction of two speculative warehouses in Libertyville, approximately 40 miles northwest of Chicago. The facilities are situated on 21 acres at 804 E. Park Ave. Bridge Development Partners is the project developer. Building 1 at Bridge Point 94 is 185,670 square feet, and Building 2 is 220,542 square feet. Both Class A facilities feature 32-foot clear heights, 56 truck dock positions and ESFR sprinklers. The buildings share a parking lot with 536 spaces. Cornerstone Architects Ltd. provided architectural services, and Pearson, Brown & Associates Inc. was the civil engineering firm. John Hauser and Michael Fonda of Avison Young are overseeing the lease-up of the building.
NEW JERSEY, PENNSYLVANIA AND FLORIDA — Prologis has acquired a 5.4 million-square-foot portfolio consisting of 3.2 million square feet of industrial properties and 2.2 million square feet of retail properties in multiple states. Morris Realty Associates sold the portfolio for an undisclosed sum. Included in the portfolio are ten industrial properties, eight of which are in Northern New Jersey, as well as 13 retail properties in New Jersey, Pennsylvania and Florida. After the initial acquisition, Prologis sold the retail portion of the portfolio to Blackstone Real Estate Advisors for an undisclosed price. The company plans to retain the industrial properties for long-term investment purposes. Thomas Monahan, Noah Balanoff, Anastasia Lazarides and Gerard Monahan of CBRE’s Saddle Brook, New Jersey, office represented Prologis in the acquisition. Bill Kent, also of CBRE, spearheaded the multi-state team that brokered the disposition of the retail properties.
WOODINVILLE, WASH. — Harsch Investment Properties has purchased Riverfront Business Park, a 137,916-square-foot industrial property in Woodinville, for an undisclosed sum. The Class A property is located one mile south of downtown Woodinville, approximately 20 miles northeast of Seattle. Bret Jordan and Derek Heed of Colliers International executed the transaction.
BLAUVELT, N.Y. — NAI James E. Hanson has arranged the sale of an industrial building located at 615 Route 303 in Blauvelt. Direct Invest LLC sold the property to the current tenant, Advanced Distributions Systems (ADS), for an undisclosed price. The 219,304-square-foot property features 20-foot ceilings, 12 loading docks with one drive-in door, 200 parking spaces and 14,311 square feet of office space. Scott Perkins, Andrew Somple and Christopher Todd of NAI James E. Hanson represented the seller in the transaction.
BILLERICA, MASS. — Select Stone has acquired an industrial building located at 7 Esquire Road in Billerica. C.A. Realty Corp. sold the facility for $1.7 million. The 25,000-square-foot property features 18-foot clear heights. James Stubblebine and David Stubblebine of The Stubblebine Company/CORFAC International represented the buyer and seller in the deal.
HOUSTON AND GARLAND, TEXAS — Dallas-based Revere Capital has funded a $13.5 million loan secured by a first lien for a vacant 223,000-square-foot Walmart in Garland, and a 200,000-square-foot shopping center anchored by a vacant former grocery store in Houston. The borrower plans to develop 100 percent of the vacant former Walmart space into rentable self-storage space coupled with a sports entertainment tenant. Half of the Houston property is leased to a Chuck-E-Cheese, a go-cart racing facility operator and other retailers. The borrower plans to convert 100,000 square feet of vacant shopping center space into self-storage space. Loan proceeds were used to repay existing first mortgages on each of the two properties, along with tenant improvements for executed leases for the inline retail space at the Houston property. The Houston property is in the Northgate neighborhood 18 miles north of downtown. In addition to the primary collateral, the loan is secured by a pledge of 90 percent of the ownership interests in a stabilized five-property portfolio of self-storage facilities owned by the borrower. The loan is also secured by a second lien on a vacant 170,000-square-foot K-Mart in Corsicana, and a personal guaranty of the sponsor.
