PEACHTREE CORNERS, GA. — Avison Young has brokered the $9.4 million sale of a 221,000-square-foot industrial facility located at 5850 Peachtree Industrial Blvd. in Peachtree Corners, a northeastern suburb of Atlanta. Chip Watson and Brent Weitnauer of Avison Young’s Atlanta office represented the seller, Makim Holdings, in the transaction. The buyer, Gwinnett County Schools, plans to convert the facility and surrounding 20 acres of land into a new high school.
WEST VALLEY CITY, UTAH — Land Advisors has purchased the 61,630-square-foot Honeyville Grain Building in West Valley City for an undisclosed sum. The property is located at 1811 W. Alexander St., within the Decker Lake Business Complex. The seller, Intercon, formerly occupied the building. The company was represented by Luke Burbank of Newmark Grubb ACRES.
NEWARK, N.J. — Prudential Mortgage Capital Co., operating on behalf of The Prudential Insurance Co. of America, has provided $148 million (USD) in permanent financing to Prologis Inc. for an industrial portfolio in Toronto. This transaction marks the firm’s first loan origination in Canada for The Prudential Insurance Co. of America in 20 years. The 10-year loan is secured by an eight-property portfolio totaling nearly 3.5 million square feet across the greater Toronto area. The portfolio is 100 percent leased to 16 tenants, including major corporations such as PepsiCo and IKEA. Constructed between 2006 and 2014, the properties feature 28- to 32-foot clear heights, dock high doors and trailer parking. Newark-based Prudential Mortgage Capital is the commercial mortgage lending business of PGIM, the global investment management business of Prudential Financial Inc. (NYSE: PRU).
GRAPEVINE, TEXAS — Mercedes-Benz plans to open two facilities in Grapevine. The first is a regional parts distribution center (PDC) designed to support the sales and distribution of spare parts to the customers and dealer network of Mercedes. The second is a learning and performance center (LPC). The LPC is relocating from Houston to the Grapevine site and is planned to be a technical facility accommodating on-going training of Mercedes-Benz dealership technicians from around the Southwest region. Currently owned by the city of Grapevine, the site consists of around 31 acres along Lakeside Parkway at Enterprise Road. Once fully operational, both the training facility and parts distribution center will be staffed with 50 employees with the ability to train 150 technicians per week. The PDC is planned to be 254,000 square feet and the LPC is 59,000 square feet. Seefried Industrial Properties, in partnership with a long-time European capital partner, is the purchaser of the land and developer for this project. Mercedes has executed a development agreement with Seefried Properties and will purchase the project upon completion. Design of the two facilities is underway and will be submitted for permitting in February 2016. The initial site work will start this …
PHOENIX — The Opus Group has commenced construction on a 393,300-square-foot speculative warehouse and distribution building in Phoenix. The Opus Airport Industrial will be situated on 23 acres of land at the northeast corner of 7th and Elwood streets, near Phoenix Sky Harbor International Airport. Opus Airport Industrial will be the largest available industrial space in the submarket once it’s completed in September, according to the developer. It will also be able to accommodate single- or multi-tenant occupants looking for manufacturing, distribution and light assembly uses, among others. Opus Development Company LLC is developing the project. Opus Design Build LLC is the design-builder, while Opus AE Group LLC is the architect and structural engineer of record. Ware Malcomb is the design architect. CBRE’s John Werstler, Cooper Fratt and Jerry McCormick will market the property for lease. The team also executed the land sale between Opus and the seller, 7th Street Industrial LLC.
MILWAUKEE, WIS. — The Dickman Co./CORFAC International has arranged the sale of a 119,040-square-foot industrial building in Milwaukee, for an undisclosed price. 8301 Parkland LLC purchased the facility from TJM Parkland Court LLC. The asset is located at 8301 W. Parkland Court. Samuel M. Dickman Jr., Samuel D. Dickman and Nick Keys of The Dickman Co. were the sole brokers in the transaction.
AGAWAM, MASS. — OMG Inc., a commercial roof fastening product manufacturing and supply company, has leased 86,031 square feet of warehouse and office space at 101 Almgren Drive in Agawam. Situated on 14.6 acres, the 187,900-square-foot industrial facility is owned by California-based Four Cities Partner LTD and master leased, as well as substantially occupied by Seattle-based Vaupell Holdings Inc. Sentry Commercial, in association with Hart Corp., represented Vaupell in the transaction.
EL MONTE, CALIF. — Vibe Base has signed a five-year lease renewal for its 60,000-square-foot facility in the San Gabriel Valley submarket of El Monte. The lease is valued at $2 million. The space is located at 9328 Telstar Ave. Barry Saywitz of the Saywitz Company represented the international designer, manufacturer and importer of clothing product. Mickey Isen of Kennedy Wilson Properties represented the landlord, KW Telstar, in this transaction.
FORT WORTH, TEXAS — Hunt Southwest Real Estate Development has acquired a 16.7-acre site in the Riverbend West Business Park in northeast Fort Worth and will develop a 301,500-square-foot spec warehouse and distribution facility at the site. Construction on Riverbend West Distribution Center, located at 2101 Reeves Place, will commence immediately with completion expected in the third quarter of 2016. The facility will feature 32-foot clear heights, cross-dock configuration, an ESFR sprinkler system and dedicated trailer parking positions. Holt Lunsford Commercial’s Donnie Rohde, Chance Olin and George Jennings will lease the industrial property to prospective tenants.
OAK CREEK, WIS. — The Dickman Co./CORFAC International has arranged a 17,425-square-foot industrial lease in Oak Creek, approximately 14 miles south of Milwaukee. Schenker Inc. will lease the space located at 330 E. Mahn Court from Maggster LLC. Samuel M. Dickman Jr. and Samuel D. Dickman of The Dickman Co. represented the landlord in the transaction, and Karl Wiedenman of CBRE represented the tenant.
