ERLANGER, KY. — NorthMarq Capital has arranged a $10.3 million loan for the refinancing of Donaldson Road Center II, a 258,947-square-foot industrial property located at 1325 and 1335 Donaldson Road in Erlanger. Alstom Power is the anchor tenant at the facility. Susan Branscome of NorthMarq’s Cincinnati office arranged the 10-year loan with a 20-year amortization schedule through an unnamed life insurance company.
WARREN, MICH. — L. Mason Capitani Inc. CORFAC has brokered the sale of an industrial property located at 27450 Gloede Drive in Warren. Division 6 Fabrication and Installation acquired the 24,000-square-foot property for an undisclosed price. The buyer plans to use the facility to expand its company needs. Division 6 services the medical, educational, governmental and corporate industries with carpentry and millwork. Andrew Greiner and Jason Capitani of L. Mason Capitani represented the undisclosed seller in the transaction.
HARLINGEN AND EL PASO, TEXAS — Sealy & Co., a commercial real estate investment and operating company, has acquired a 902,715-square-foot, Class A industrial portfolio in the Rio Grande Valley and El Paso. Four buildings totaling 758,715 square feet are located in El Paso, and the remaining building totaling 144,000 square feet are located in Harlingen. The portfolio, which is currently 95 percent leased, consists of five buildings developed between 1997 and 2001. The El Paso buildings are located less than five miles from the Zaragoza Bridge, which is the main distribution border crossing between Juarez, Mexico and El Paso.
NEW YORK CITY — Kalmon Dolgin Affiliates (KDA) has brokered the sale of an industrial property, located at 507 Osborn St. in Brooklyn. The 60,000-square-foot property sold for $6.2 million. The property features high ceilings and open space. Neil Dolgin of KDA, along with Christopher Halliburton of Halstead Property LLC, represented the seller, Tuck It Away Osborn LLC. Halliburton also represented the buyer, Knight Collision Experts Inc. in the transaction.
WESLEY CHAPEL, FLA. — Compark 75, a Class A business park in the Tampa Bay metro area, has announced its Phase III expansion, which will add 58,000 square feet of spec industrial space. Located at 4610 Pet Lane in Wesley Chapel, Compark 75 currently spans 237,053 square feet. Larry Morgan, owner of Compark 75, plans to deliver Phase III in early 2016. Phase III was announced on the heels of Streetside Classic Cars and a national dental products distribution company leasing a combined 78,000 square feet at Compark 75. Commercial Asset Partners Realty is the exclusive listing agent for Compark 75.
ADDISON, ILL. — Sitex Group has acquired a warehouse/distribution facility located at 350 S. Church St. in Addison for an undisclosed price. Built in 1995, the 87,219-square-foot property features an image precast exterior, 13 exterior docks, 27-foot clear ceiling heights and T-5 lighting. Additionally, the property features 1-2,000 amp/480 volt service and 1-1,200 amp/480 volt electrical service. Kelly Disser and Dan Leahy of NAI Hiffman represented the seller, Standfast Group, in the transaction.
CALABASAS, CALIF. — The broadening economic growth cycle has accelerated the U.S. industrial sector’s momentum, tightening vacancies across most metros and supporting strong rent growth, says Marcus & Millichap’s midyear industrial research market report. Marcus & Millichap is confident that the strengthening of both the producer and consumer economies should bolster demand across a wide swath of industrial facilities. Total jobs now stand more than 3 million higher than prior to the recession; wage growth has begun to gain traction; and retail sales, though a bit sluggish in the first quarter, appear poised for greater acceleration. Net absorption for a variety of industrial spaces has steadily improved in tandem with the U.S. economy. Demand for bulk industrial space often recovers first, leaving slack in the small and midsize markets. Internet businesses and retailers are a segment that will reshape the industrial sector in the coming year as businesses compete on speed of delivery, forcing retailers to find warehouse locations proximate to major population centers, according to Marcus & Millichap. Demand for space has also grown as auto and housing sales have escalated. After reaching a trough in early 2009 and remaining muted through much of the recovery, auto sales are …
ELK GROVE VILLAGE, ILL. — Midwest Industrial Funds has acquired a 59,000-square-foot industrial space located on over four acres of land at 700 Chase in Elk Grove Village, about 25 miles northwest of Chicago. The property was purchased from a private investor and is fully leased to Acme Industries. Midwest was represented in-house by Sergio Chapa and Michael Prost. Rick Delisle of RD Strategic represented the seller in the transaction.
CLINTON TOWNSHIP, MICH. — Signature Associates has negotiated the sale of 20,660 square feet of industrial space located at 21481 Carlo Drive in Clinton Township, northeast of Detroit. The buyer in the transaction was Carlo Investments LLC. Ben Wilkiemeyer and Paul Saad of Signature represented the seller, M + L Industrial Properties. Signature Associates is an independently owned and operated member of the Cushman & Wakefield Alliance.
DESOTO, TEXAS — Marcus & Millichap has arranged the sale of U Store, a 45,285-square-foot self-storage facility located in DeSoto. Danny Cunningham and Brandon Karr of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Cunningham and Karr secured the buyer, a private investor based in California. U Store is located at 1209 East Belt Line Road. The facility was built in stages in 1974, 1982, 1985 and 2001, and features an on-site manager’s residence, garage-style doors, video surveillance, and personalized keypad gated entry and exit. The property is comprised of 365 units, of which 51 are climate-controlled.
