NEW YORK CITY — HelmsleySpear LLC has arranged the sale of a commercial building located at 19-40 Flushing Ave. in the Ridgewood section of Queens. Farmville, Va.-based Tri-Boro Shelving acquired the 25,234-square-foot warehouse for $10.5 million, or $416.10 per square foot. The warehouse features 17-foot ceilings, eight loading docks and 8,000 square feet of outdoor parking. The buyer plans to renovate the property. Gregg Slotnick of HelmsleySpear represented the undisclosed seller in the transaction.
COPPELL, TEXAS — Addison-based Biel Partners has brokered a 19,000-square-foot office/warehouse lease for Triathlon Battery Solutions Inc. The company is a United States incorporated entity with investment backing from its German parent, Triathlon Batterien GmbH. The new location will be Triathlon’s headquarters within the United States. Triathlon supplies clients with lead-acid and lithium-ion batteries powering equipment such as electric forklifts and pallet jacks, electric industrial trucks and mobile lifting platforms. Triathlon occupied its new space at 631 Southwestern Blvd., Suite 140 in Coppell earlier this month and will hold a grand opening ceremony in October. Jeremy Kelly of Stream Realty Partners represented the landlord, ML Realty, in the lease deal.
FORT WORTH, TEXAS — Transpacific Development Co. (TDC) has acquired a 1.4 million-square-foot distribution building in Fort Worth developed and occupied by logistics solutions provider DHL Supply Chain. Completed in June, the property is located at 5600 Mark IV Parkway, near the intersection of I-35 and I-820. John Huguenard and Sean Devaney of JLL represented DHL Supply Chain in the transaction. 5600 Mark IV Parkway was built with 36-foot clear heights, 154 dock doors, parking for 200 cars and 350 trailers and an ESFR fire suppression system. The building’s infrastructure was reinforced to withstand 120-mile-per-hour winds. DHL is preparing to break ground on a speculative basis on an adjacent building, totaling 712,500 square feet, with similar specifications. That building is scheduled for completion next spring.
KEY LARGO, FLA. — Ocean Reef Club Real Estate Co., which is owned and operated by Ocean Reef Club in Key Largo, has sold the three-story, 24,673-square-foot Plaza Building in Key Largo for $21.2 million. Mary Lee of Ocean Reef Club Real Estate represented both the buyer and Ocean Reef Club in the sale of the building, which was the largest commercial property for sale at the club. Ocean Reef Club is situated on 2,500 acres and features 65 commercial properties, a 275-room hotel, 30,000 square feet of indoor and outdoor meeting space, two 18-hole golf courses, a 175-slip marina, 12,000-square-foot spa and salon and 20 tennis courts.
LAVONIA, GA. — The Elrod Group, a brokerage division with Athens, Ga.-based Coldwell Banker Commercial Upchurch Realty, has arranged the $4.1 million sale of an industrial facility in Lavonia. The 746,735-square-foot warehouse development is situated on 55.8 acres along I-85. Brian Elrod of The Elrod Group represented the seller, Heritage Global Inc., in the transaction. The buyer was an unnamed automotive logistics user.
PEWAUKEE, WIS. — The Dickman Company Inc./CORFAC International has arranged a 20,242-square-foot office and industrial lease in Pewaukee, approximately 20 miles west of Milwaukee. TF Final Mile LLC will occupy Suite 200 in the building, which is located at W233 N2800 Roundy Circle W. Byrne Family Limited Partnership & 3RP LLC is the landlord. Samuel M. Dickman Jr. and Samuel D. Dickman of The Dickman Company represented the landlord in the transaction. Bill Langhoff of Colliers International represented the tenant.
NEW YORK — The U.S. industrial market has absorbed a record-setting 70.1 million square feet of space in the second quarter, up 6 percent from the same period a year ago, according to Cushman & Wakefield. Year-to-date, the industrial sector has absorbed 132.2 million square feet. The second-quarter figure marks 25 consecutive quarters of net occupancy gains for the industrial sector, with the current quarter’s absorption reaching a new cyclical high. Nationally, the industrial vacancy rate is currently tracking at 5.8 percent, the lowest level of the past 30 years and 270 basis points below the 10-year historical average. Additionally, 38 U.S. markets reported more than 1 million square feet of absorption during the second quarter, with 11 markets recording more than 2 million square feet of absorption. Kevin Thorpe, Cushman & Wakefield’s chief economist, says that despite a series of shocks to the U.S. economy this year and heightened uncertainty emanating from Europe, economic fundamentals remain mostly solid, which ultimately benefits the U.S. industrial sector. “We expect to see some headwinds form in manufacturing and exporting created by the stronger U.S. dollar, but other important industrial-related indicators, such as containerized traffic flows, transportation indices, and business inventories, demonstrate that …
LAS COLINAS, TEXAS — Real estate developer and investor Roger Gault of Gault Co. has sold a single-tenant industrial building located at 1939 Hereford Drive in Las Colinas to an undisclosed buyer. The 25,000-square-foot building sits on 1.5 acres in the Las Colinas Walnut Hill Distribution Center. Ryan Boozer with Stream Realty was the broker for the sale. The building was purchased in 2007 and was occupied until recently by Quantum Clean. When Quantum moved out, the building was put up for lease or sale.
HOUSTON — Lee & Associates has negotiated a lease renewal for a 109,756-square-foot industrial space located at 3550 Brittmoore Road in Houston. Tom Walrich of Lee & Associates’ Dallas/Fort Worth office represented the tenant, Dealer Tire, in the transaction. Jude Filippone of Transwestern represented the landlord, Claymoore Northwest Inc.
TEWKSBURY, MASS. — Rubenstein Partners has received $28.1 million in refinancing for the Center at Innovation Drive in Tewksbury. The recently rebranded property, formerly known as 495 Business Center, comprises four conjoined buildings located at 200, 300, 400 and 500 Innovation Drive. The complex features 706,000 square feet of office, manufacturing and warehouse space. Cambridge Savings Bank provided the financing. The facility is currently undergoing an interior and exterior renovation and capital improvement plan, which is slated for completion later this year. The redevelopment will transform the facility into a creative office complex.