HOUSTON — Q10 KDH vice president Larry Peters has arranged $2.8 million in permanent financing for a mixed-use center in Houston through correspondent insurance company lender Symetra. Built in 1974 and located in north Houston, the mixed-use center offers 56,206 square feet of space divided into 75 percent retail use and 25 percent warehouse space.
ELMHURST AND MUNDELEIN, ILL. — Transwestern has brokered the sale of three commercial properties in three separate transactions totaling 82,285 square feet in Elmhurst and Mundelein. In the first transaction, Justin Lerner and Joe Karmin of Transwestern represented Venture One in the disposition of a 33,000-square-foot property at 899 Larch in Elmhurst. Craftwood Inc. acquired the building for an undisclosed price. In the second deal, Lerner and Karmin represented Terrence Sherman in the sale of a 29,000-square-foot building at 877 S. Route 83 in Elmhurst. U Store It LLC purchased the property for an undisclosed sum. In the final transaction, Tom Boyle and Jared Paff represented International Equipment Trading Inc. in the acquisition of a 19,295-square-foot property at 955 Campus Drive in Mundelein from G&M Enterprises for an undisclosed price.
PHOENIX — Realty Associates Fund X L.P. has purchased the White Star Portfolio, which contains nine industrial buildings throughout Phoenix, for $42.2 million. The buildings are all situated near Phoenix Sky Harbor International Airport. The portfolio features a total of 460,669 square feet of multi-tenant industrial space. It includes White Star Corporate Center at 2110 – 2140 S. 7th Ave.; Baseline Foothills at 4401 – 4409 E. Baseline Road; 3710 E. University Drive; and 2501 W. Phelps Road. The transaction was executed by JLL’s Mark Detmer and Bo Mills.
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 …