Industrial

Cronheim Mortgage Arranges $35M in Financing for Industrial Property in New Jersey

by Amy Works September 28, 2015

ELIZABETH, N.J. — Cronheim Mortgage has arranged $35 million in financing for an industrial property located at 102 Bay Ave. in Elizabeth. The loan was structured with a five-year term and a 30-year amortization schedule for the borrower, Hartz Elizabeth Inc., an affiliate entity of Hartz Mountain Industries Inc. Built in 1990, the 509,093-square-foot facility features 26-foot clear heights, 61 loading docks and approximately 9,000 square feet of mezzanine office space. Andrew Stewart and Dev Morris of Cronheim secured the financing for the borrower.

September 28, 2015

Industrial Northeast Pennsylvania

Swope Lees Commercial Brokers Sale of 8,800 SF Industrial Property in Pennsylvania

by Amy Works September 25, 2015

WEST GOSHEN TOWNSHIP, PA. — Swope Lees Commercial Real Estate has brokered the sale of an industrial flex building located at 909 Camaro Run Drive in West Goshen Township for an undisclosed sum. The property features two loading docks, ample parking and space for a 3,000-square-foot expansion. Frank Lamarr of Equitrust LTD and Jim Lees of Swope Lees arranged the sale. The names of the seller and buyer were not released.

September 25, 2015

Industrial Loans Western

HFF Arranges $42M Financing for Perris Circle Industrial Park Project

by Nellie Day September 25, 2015

PERRIS, CALIF. — HFF has arranged $42 million in joint venture equity and construction financing for Perris Circle Industrial Park. The Class A industrial facility will contain two buildings totaling 594,000 square feet. The new project is situated on a 31-acre site at 278-290 Markham St., near Harley Knox Boulevard and Interstate 215. Perris Circle Industrial Park will be complete in early 2016. HFF worked on behalf of the developer, Circle Industrial, to arrange the joint venture equity partnership with Cigna Realty Investors. The firm also secured the construction financing for the partnership with Wells Fargo Bank. Anthony Brent, Kevin Mackenzie and Ryan Martin led HFF’s equity placement team. Todd Sugimoto and Mark Wintner led the debt placement team.

September 25, 2015

Industrial Loans Michigan Midwest

BGL Arranges $22.3M of Financing for Industrial Property Near Detroit

by Christina Cannon September 25, 2015

GIBRALTAR, MICH. — Brown Gibbons Lang (BGL) Real Estate Advisors has arranged a $22.3 million financing for an industrial property for Ferragon Corp. The multi-phased financing will support improvements to create a continuous annealing toll processing operation in Gibraltar, which is approximately 30 miles south of Detroit. The processing center will become operational in late 2016. Once complete, the project will bring a largely vacant 550,000 square foot industrial complex back into EPA compliant condition. The $22.3 million financing consisted of a $10 million building improvement loan, an $8.2 million Brownfield Tax Increment Financing (TIF) and job creation grant from the Michigan Economic Development Corporation and the Michigan Department of Environmental Quality, and $4.1 million for building and property acquisition. BGL was the exclusive real estate advisor for the borrower, Ferragon in the transaction. BGL Real Estate Advisors provides comprehensive real estate investment banking services to the middle market, which includes real estate advisory, debt and equity placements, financial restructuring, and asset acquisition and disposition. Ferragon Corporation is a provider of comprehensive toll processing services for hot rolled and cold rolled steel that operates four other facilities in the Midwest and Southern regions.

September 25, 2015

Industrial Texas

Lee & Associates Negotiates 71,250 SF Industrial Lease in San Antonio

by Haisten Willis September 24, 2015

SAN ANTONIO — Lee & Associates has completed a lease for a 71,250-square-foot industrial space located at 8154 Bracken Creek in San Antonio. Tom Walrich and Reed Parker of Lee & Associates’ Dallas/Fort Worth office represented the tenant, KGP Telecommunications Inc. Charles Bujan with ERA Colonial Real Estate represented the landlord, Bracken Creek Properties Ltd.

September 24, 2015

California Industrial Western

Cress Capital, PacVentures Acquire Industrial Property in Perris for $11.3M

by Nellie Day September 24, 2015

PERRIS, CALIF. — Cress Capital and partner PacVentures have acquired a 30-acre property in Perris that includes two industrial buildings for $11.3 million. The property is located at 3411 N. Perris Blvd. Both buildings are occupied by single tenants on long-term leases. The transaction also includes a 10-acre excess land parcel. HFF’s Wally Reid and Jeff Sause provided debt financing.

September 24, 2015

Industrial North Carolina Southeast

Beacon Partners to Break Ground on Industrial Facility in Metro Charlotte

by John Nelson September 24, 2015

CONCORD, N.C. — Beacon Partners will soon begin construction on a 143,670-square-foot industrial facility within RiverOaks Corporate Center, a 1.4 million-square-foot industrial park located in Concord, roughly 24 miles north of Charlotte. The new facility will be located one mile east of I-85, five miles north of I-485 and near Concord Regional Airport. Matt Greer and John Cashion of JLL represented an undisclosed tenant in a 73,667-square-foot pre-lease at the facility. The tenant plans to move into the building in spring 2016. The design team for the new facility includes general contractor Choate Construction, architect Merriman Schmitt and civil engineer ColeJenest & Stone.

September 24, 2015

Indiana Industrial Midwest

JLL Brokers Lease of 321,627 SF Industrial Property in Indianapolis Suburb

by Christina Cannon September 24, 2015

PLAINFIELD, IND. — JLL has brokered the lease of 321,627 square feet in the Indianapolis market for OHL, one of the largest 3PL companies in the world. The property is located at 1251 S. Perry Road in Plainfield, which is 15 miles outside of Indianapolis. The new lease brings OHL’s footprint in that market to more than 3 million square feet. Steve Schwegman and Matt Dickerson of JLL represented the landlord, KBS Realty Advisors. Jess Andrews, Andrea Morris and Steve Schegman of JLL, along with ProVenture and CBRE, represented OHL. The building features include a “cross dock” layout, 36-foot clear height, a climate-controlled warehouse, secured truck courts and abundant parking. Ingram Micro formerly leased the building.

September 24, 2015

Industrial Midwest Office Wisconsin

Colliers International Brokers Lease of 53,904 SF in Wisconsin

by Christina Cannon September 24, 2015

BROOKFIELD, MADISON, AND OAK CREEK, WIS. — Colliers International has brokered the lease of 53,904 square feet of space in Wisconsin. Alberts Investment Management Inc. has renewed its 1,540-square-foot lease of office space at Squires II located at 16655 W. Bluemound Road in Brookfield, which is 10 miles west of Milwaukee. Sal Strehlow and Matt Fahey of Colliers International brokered the deal. Memorial Care Center LLC has leased 1,800 square feet of office space at 2830 Dryden Drive in Madison. Brian McClaren and Jim Larkin of Colliers International brokered the deal. SEKO Worldwide has leased 50,564 square feet of industrial space at 10020 S. Reinhardt Drive in Oak Creek, which is approximately 12 miles south of Milwaukee. Tom Shepard of Colliers International brokered the deal.

September 24, 2015

Industrial Massachusetts Northeast

Calare Properties Acquires Three Buildings in Campanelli Business Park for $25.3M

by Amy Works September 24, 2015

MIDDLEBOROUGH, MASS. — Calare Properties has acquired three industrial properties located within the Campanelli Business Park in Middleborough for $25.3 million from Campanelli. Totaling 273,000 square feet, the portfolio includes 16 Leona Drive, 19 Leona Drive and 139 Campanelli Drive. The 80,000-square-foot property at 16 Leona Drive features 21-foot clear heights and is 100 percent leased to IDEX Health & Science. The 108,000-square-foot facility at 19 Leona Drive is fully occupied by Sager Electronics, a subsidiary of TTI Inc., a Berkshire Hathaway Inc. company. Finally, the 85,000-square-foot property at 139 Campanelli Drive is 100 percent leased to Stop & Shop Supermarket.

September 24, 2015

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