MISSOURI CITY, TEXAS — Colliers International has arranged the sale of 6,500 square feet at 13370 S. Gessner Road in Missouri City. AAA Tran Real Estate Management LLC purchased the property. Tasha Bannister of Transtar Fine Properties represented the buyer in the transaction. Barkley Peschel of Colliers International represented the seller in the transaction. Madera Studio, a professional photography and portrait studio, will occupy the space.
LOUISVILLE, COLO. — The Colorado Technology Center Portfolio, which contains a total of 631,135 square feet of light industrial space, has received $59 million in financing. The seven-building portfolio was fully leased, and all are situated within the Colorado Technology Center in Louisville, northwest of Denver. Steve Bye and Conor McCahill of NorthMarq Capital’s Denver office arranged the financing with an undisclosed investment bank. The non-recourse loan structure involved a 10-year, fixed-rate term with interest-only payments for three years, followed by a 30-year amortization schedule.
South Carolina continues to see a manufacturing renaissance, after back-to-back record years of manufacturing investment totaling $10 billion in 2013 and 2014. All signs suggest that 2015 will be just as promising. The Midlands region has benefitted from this investment and is poised to take off in 2015. As the market has heated up, the Midlands region of South Carolina has the most to offer in the way of product for new and expanding companies. Yes, in 2015 vacancy is a good thing! As the upstate and low country markets have become alarmingly tight on viable manufacturing space, the Midlands region offers up an array of high-quality industrial product that is move-in ready. Data for the first quarter of 2015 shows significant improvements in the Midlands market with investments, job creation and construction activity. Major companies, including Brazil-based Inbra Industrias Quimicas, Red Bone Alley Foods, Avantrech and Wire Mesh Cos., have all made multi-million dollar investments in new or expanded facilities, and there is also increased build-to-suit and speculative construction across the region. There has also been a growth in leasing, as manufacturers pursue existing facilities that can meet the demands for advanced manufacturing but with significant cost savings over …
NEW YORK CITY — Kalmon Dolgin Affiliates has arranged a 50,000-square-foot lease at Liberty View Plaza in Brooklyn for Koppers Specialty Chocolate Co. The company is relocating from a 30,000-square-foot space in Greenwich Village to the space at 850 Third Ave. in Brooklyn’s Sunset Park neighborhood. As part of the deal, Empire State Development, New York State’s economic development agency, will provide Koppers with up to $556,000 in performance-based Excelsior Jobs Program Tax Credits, as the company agreed to create at least 27 new full-time jobs over the next five years and keep the position through at least 2025. Neil Dolgin and Jeffrey Unger of Kalmon Dolgin Affiliates, along with Howard Kesseler and Jordan Gosin of Newmark Grubb Knight Frank, represented the landlord, Salmar Properties, in the transaction.
CHICAGO — MB Real Estate (MBRE) has won the assignment to manage and lease the Illinois Tollway Oases, six properties servicing commuters and travelers along the Illinois Tollway system. The tollway oases offer patrons a variety of convenient food options, a wide range of services and are directly accessible from the tollway with on-off ramps. Properties include the Belvidere Oasis along I-90; the Lake Forest Oasis on I-94; the DeKalb Oasis on I-88; the Chicago Southland Lincoln Oasis along I-80/I-294; the Hinsdale Oasis on I-294; and the O’Hare Oasis, also on I-294. Current tenants of the oases include the Illinois Tollway, McDonald’s, Starbucks, Best Buy Express, Subway, Illinois Lottery and Sbarro, among others. Kathleen Bertrand of MBRE will serve as the leasing representative for the six properties, which offer a variety of spaces available for lease.
WEST BEND, WIS. — The Dickman Company Inc./CORFAC International has brokered a 160,000-square-foot industrial lease for Gardner Pet Group Inc. in West Bend, about 38 miles northwest of Milwaukee. A pet food distributor, Gardner is moving its manufacturing operations and up to 60 jobs from China to West Bend, according to the Milwaukee Business Journal. The property is located at 2845 Wingate St. The landlord is Wingate Ventures LLC, care of Phoenix Investors LLC. Gardner selected the location in West Bend to add to its current operations in Juneau, Wis. Nick Keys, Samuel M. Dickman Jr. and Samuel D. Dickman negotiated the lease.
SAN BERNARDINO, CALIF. — The Pool Corporation has leased a 184,646-square-foot building in San Bernardino. The space is located at 1410 E. Central Ave., within Carson Alliance, a newly developed, two-building industrial park at the Gateway of the Master Alliance of California project. Chris Barbieri of ANR Asset Management and Ron Barbieri of Coldwell Banker Commercial represented Pool Corporation. JLL’s Ruben Goodsell, Peter McWilliams and Mike McCrary represented the landlord, Carson Companies.
RIVERWOODS, ILL. — Milton Podolsky, founder of Podolsky|Circle CORFAC International, passed away this past weekend at the age of 94. Born in 1921, Podolsky attended DePaul University and studied at John Marshall Law School before serving in the U.S. Army from 1943 to 1946. He first considered a career in commercial real estate in 1957 when a frequent customer of his family’s drug store encouraged him to do so. Over the next five years, he worked at two commercial real estate firms in the Chicago market doing primarily industrial brokerage. Then he began developing and managing buildings in what later became known as the O’Hare market. In 1962, Podolsky co-founded his first entrepreneurial firm. In 1971, he established Podolsky and Associates Ltd., which evolved into the company now known as Podolsky|Circle CORFAC International based in Riverwoods. His accomplishments include the development of seven industrial parks and myriad individual industrial and office buildings, as well as Westbrook Corporate Center, a 1.1 million-square-foot office complex in Westchester, Ill. He is survived by his wife, Lois; his brother, Jerry; his three children, Steven, Bonnie and Randy; and seven grandchildren and four great grandchildren.
IRVING, TEXAS — Hines, in conjunction with AEW Capital Management, has begun construction on Phase II of Parc 114 Business Park in Irving. Phase II will include two new buildings totaling 191,262 square feet with a projected completion date in early 2016. Stream Realty Partners will provide leasing, marketing and property management services for the project. Parc 114 is a 52-acre master-planned business park located at 6501 N. Beltline Road. Phase I includes six industrial buildings totaling 404,777 square feet that are 100 percent leased. Tenants include Chrysler Group LLC, Nautilus Hyosung America, Nissan and Walgreens. Phase II of Parc 114 will feature a distinctive architectural design that will complement the existing buildings in the park. The rear-load, dock-high buildings will accommodate tenants ranging from 16,000 square feet to 135,253 square feet and will feature generous parking and truck courts. Centrally located in the Dallas-Fort Worth area, Parc 114 is directly adjacent to the DFW International Airport, just south of State Highway 114. Bob Hagewood and Jeremy Kelly of Stream’s industrial division in Dallas will lease and market Parc 114 on behalf of the landlord, Hines. Stream’s Priscilla McKinney will oversee property management of the property.
SANTA FE SPRINGS, CALIF. — Custom Companies has leased 306,286 square feet of industrial space in Santa Fe Springs. The space is located at 13012 Molette. The lease is valued at $13.7 million. Custom Companies, which provides airfreight and truck shipments to and from all points in the U.S., Canada and Mexico, will relocate from nearby Carson. The company will use the space for its warehouse, distribution, outside trailer storage and general office needs. NGKF’s Wesley Hunnicutt and Matthew Moore represented Custom Companies. Eric Knirk of Fremont Associates represented the owner, Oltmans Real Estate Company.
