Industrial

Fairbridge Properties Sells Industrial, Research Facility in Minneapolis Suburb for $14M

by Christina Cannon November 5, 2015

COON RAPIDS, MINN. — Fairbridge Properties has sold a 261,805-square-foot flex facility in Coon Rapids, a northern suburb of Minneapolis, for $14 million. The industrial and research facility is located at 8840-8880 Evergreen Blvd. and is occupied by Honeywell Aerospace and MEDRAD. Shopoff Realty Investments purchased the property. Fairbridge realized an internal rate of return of 75 percent. After obtaining ownership of the building in 2013, Fairbridge made renovations including repainting the building’s exterior, replacing windows, resurfacing a portion of the parking lot and retrofitting the parking lot lighting. Fairbridge sold the property as part of a 1031 exchange, and the company is in the process of identifying a new investment to complete the exchange.

November 5, 2015

Illinois Industrial Midwest

NelsonHill Brokers $2.6M Sale of 40,000 SF Building in Chicago

by Christina Cannon November 5, 2015

CHICAGO — NelsonHill has brokered the sale of a 40,000-square-foot industrial building in Chicago for $2.6 million. Jeron Electronic Systems Inc. sold the property located at 1743 W. Rosehill Drive. Alan and Armand Candea of Candea Development purchased the building and entered into a sale-leaseback agreement with Jeron Electronics. Frank Melchert of NelsonHill represented the seller.

November 5, 2015

Industrial Loans Maryland Office Southeast

Berkadia Originates $12M Loan for Flex Property in Maryland

by Haisten Willis November 4, 2015

FREDERICK, MD. — Berkadia recently arranged a $12 million loan for Highland Technology Center, an office and industrial property located in Frederick, Md. Ben Van Horn of Berkadia’s Scottsdale, Ariz. office secured the fixed-rate financing through Bank of America Merrill Lynch. The borrower, Envision Highland LLC, will use the financing to acquire the property for $16 million. Loan terms include a 4.9 percent interest rate, a 75 percent loan-to-value ratio and a 30-year amortization schedule. David Monassebian, Martinn Winters and Luke Reetz represented Envision Highland in the transaction. Highland Technology Center consists of 150,700 square feet of office and industrial warehouse space. Tenants include Fairchild Controls and Engage. The property is over 98 percent occupied. Located at 550 Highland St., the property offers access to I-70 and I-270. It is also located near the Frederick Municipal Airport and Frederick Fairgrounds.

November 4, 2015

Illinois Industrial Midwest

Lee & Associates Brokers Sale of 45,000 SF Industrial Facility in Romeoville, Illinois

by Christina Cannon November 4, 2015

ROMEOVILLE, Ill. — Lee & Associates has brokered the sale of a 45,000-square-foot industrial building in Romeoville, a southwestern suburb of Chicago. Molto Properties acquired the asset from First American Properties for an undisclosed price. The property, located at 49 N. Paragon Drive, is part of the Paragon Business Park. The building was recently constructed and features 28-foot clear heights, four exterior docks with levelers and two drive-in doors. Terry Grapenthin and Jeff Galante of Lee & Associates represented Molto in the transaction.

November 4, 2015

California Industrial Western

IDI Gazeley Leases 1 Million SF at Stratford Ranch in Perris

by Nellie Day November 3, 2015

PERRIS, CALIF. — IDI Gazeley has leased more than 1 million square feet at the Stratford Ranch development in Perris. The international home improvement retailer will occupy Building A of the development. The new space will serve as a storage, warehousing and distribution center for IDI Gazeley’s products. The firm was represented by Bill Heim and Michael Chavez of Lee & Associates. The landlord was represented by CBRE’s Joey Sugar.

November 3, 2015

Georgia Industrial Multifamily Office Retail Southeast

Colliers International Group Acquires Colliers International Atlanta

by Haisten Willis November 3, 2015

NEW YORK CITY & ATLANTA — Colliers International Group has acquired Colliers International Atlanta. The current shareholders of Colliers Atlanta will continue to retain equity in the business under Colliers’ unique partnership model. Terms of the transaction were not disclosed. Founded in 1967, Colliers International Atlanta offers a full range of services for commercial real estate owners and occupiers. Comprising more than 250 professionals, Colliers International Atlanta provides investment sales, lease brokerage, capital markets, property management and project management to local, regional, national and international clients.

November 3, 2015

Industrial South Carolina Southeast

NAI Avant Brokers 1,185-Acre Land Sale in Columbia for $3M

by Haisten Willis November 3, 2015

COLUMBIA, S.C. — NAI Avant’s Tom and Tombo Milliken have brokered the sale of 1,185 acres on Beckham Swamp Road and Longwood Road in Richland County, S.C. The property, known as Liberty West, was owned by Congaree Carton LP and sold for $3 million. NAI Avant represented the purchaser in the timber and recreational holding.

November 3, 2015

Industrial Texas

Mohr Capital Begins Construction on 430,188 SF Industrial Property in Grand Prairie

by Haisten Willis November 3, 2015

GRAND PRAIRIE, TEXAS — Mohr Capital, a privately held real estate investment firm headquartered in Dallas, has broken ground on a Class A industrial development totaling 430,188 square feet on 20.7 acres, located in Grand Prairie on Bardin Road. Mohr’s development team has the designed the project to accommodate tenants from 100,000 square feet up to 430,188 square feet. Cannon Green and Blake Kendrick of Stream Realty Partner’s Dallas office, along with Sarah Ozanne, senior associate, will oversee the leasing of the project. Other members of the development team include Lisa Swift of GSO Architects, Jared Bratz of RLG Consulting Engineers and Will Pender of Rogers-O’Brien Construction. The project is expected to deliver in the second quarter of 2016.

November 3, 2015

Industrial Texas

Somervell, Soho to Break Ground on 266,450 SF Industrial Facility in Dallas

by Haisten Willis November 3, 2015

DALLAS — Co-developers Somervell Commercial Realty and SOHO Realty Partners are set to begin construction on Trinity 161 Trade Center, a 266,450-sqaure-foot industrial facility in Grand Prairie. The pair recently closed on 15 acres located at 3100 State Highway 161 and Trinity Boulevard. Michael Stanzel, Patrick Embry and John Leinbaugh of NAI Robert Lynn will lease the building. Located along the highway frontage road, the property includes 390 car parks. Company signage on the property will be visible from State Highway 161.

November 3, 2015

Industrial Michigan Midwest Office

Colliers Arranges Sale of 50,000 SF Flex Property in Troy, Michigan

by Christina Cannon November 3, 2015

TROY, MICH. — Colliers International has arranged the sale of a 50,000-square-foot flex building in Troy, a northern suburb of Detroit. The property is located on West Maple Road. Wild Bills Tobacco purchased the building from Atlas Building LLC for an undisclosed amount and plans to renovate the entire building and relocate its corporate offices to the facility. Raffi Derbabian of Colliers represented Wild Bills Tobacco.

November 3, 2015

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