Industrial

Friedman Brokers Sale of 11,940 SF Industrial Building in Marine City, Mich.

by Jeff Shaw August 14, 2015

MARINE CITY, MICH. — Friedman Integrated Real Estate Solutions has negotiated the sale of an 11,940-square-foot industrial building located at 827 Degurse Ave. in Marine City, approximately 50 miles northeast of Detroit. Terms of the transaction were not disclosed. VJ Industries Inc., a computer numeric controlled (CNC) machining company based in Port Huron, Mich., acquired the property from Degurse LLC. VJ Industries specializes in the aerospace, automotive and heavy equipment industries. Bob Dabrowsk of Friedman Integrated Real Estate Solutions represented both the buyer and seller in this transaction.

August 14, 2015

Industrial Texas

NAI Partners Arranges Sale of 18,037 SF Industrial Facility in Houston

by Haisten Willis August 14, 2015

HOUSTON — Travis Land of NAI Partners represented Hoffman Glass Family Ltd. in the acquisition of an 18,037-square-foot industrial manufacturing facility located on two acres at 11615 N. Houston Rosslyn Road in Houston. Mark Nicholas and Richard Quarles of JLL represented the seller, Halliburton Energy Services.

August 14, 2015

Industrial Retail Texas

First American Freight Furniture and Mattress to Open in San Antonio

by Haisten Willis August 14, 2015

SAN ANTONIO — American Freight Furniture and Mattress has opened its first location in Texas. The 45,000-square-foot store is located at 639 Lanark Drive in San Antonio, an industrial area commonly known as the Alamo Industrial Center. American Freight Furniture and Mattress is a discount furniture warehouse open to the public. Home furnishings and furniture are received from manufacturers due to factory closeouts, liquidations, dealer cancellations and retail chain buyouts. American Freight orders directly from the product manufacturer and utilizes warehouses rather than showrooms. Furniture brands sold at American Freight include Simmons, Serta and NordicRest.

August 14, 2015

Industrial Loans Multifamily Northeast Office Retail Rhode Island

Colliers International Arranges $6.3M Refinance Loan for Pearl Street Lofts, Pearl Street Commons

by Amy Works August 14, 2015

PROVIDENCE, R.I. — Colliers International has arranged $6.3 million in refinancing for Pearl Street Lofts and Pearl Street Commons, a mixed-use complex located within Westminster Crossing in Providence. Colliers secured the five-year, fixed-rate loan through Boston Private for the borrower, Providence-based The Armory Revival Company. Loan proceeds will be used to refinance the existing debt on the properties, allowing once separate assets to be merged into a single economic unit. Pearl Street Lofts consists of 38 loft-style apartments totaling 44,241 square feet of residential space and 43,179 square feet of commercial/warehouse space. The 8,663-square-foot Pearl Street Commons consists of four commercial condominiums configured into five office suites. Jeffrey Black of Colliers represented the borrower in the financing.

August 14, 2015

Industrial South Carolina Southeast

Beacon Partners Break Ground on Spec Industrial Facility in South Carolina

by John Nelson August 14, 2015

GREER, S.C. — Beacon Partners has begun construction on a 240,020-square-foot speculative industrial facility located at 545 Brookshire Road in Greer. Beacon Partners expects to complete the property in February 2016. The location is approximately two miles from I-85, Greenville-Spartanburg International Airport and the South Carolina Inland Port at Greer. Tim Robertson of Beacon Partners will lead the leasing efforts for the facility, which will feature an ESFR sprinkler system, 32-foot clear heights and a 185-foot truck court to accommodate on-site trailer parking.

August 14, 2015

Florida Industrial Southeast

Coldwell Banker Brokers $15M Sale of Industrial Facility in Miami

by John Nelson August 14, 2015

MIAMI — Coldwell Banker Commercial (CBC) Alliance has brokered the $15 million sale of a 213,131-square-foot industrial facility located in Miami’s Airport West industrial submarket. The property is located on an 8.9-acre site at 6950 N.W. 77th Court. The facility features 175,000 square feet of industrial space, 27,000 square feet of office space and 10,000 square feet of retail space. The property’s retail tenants include Perry Ellis and Bijoux Terner. The seller, Leyjon Investments Corp., will retain office and industrial space in the facility. Jim McCoy of CBC Alliance and Jeff Hartsook of Americas Industrial Realty Corp. represented Leyjon in the transaction. Luis Nunez of Realty Professionals #1 Inc. represented the buyer, The Apollo Group, a Miami-based cruise ship catering and logistics company.

August 14, 2015

Industrial New Jersey Northeast

J.G. Petrucci Co. to Build 200,000 SF of Build-to-Suit Industrial Space

by Amy Works August 13, 2015

SOUTH BRUNSWICK TOWNSHIP AND MONROE TOWNSHIP, N.J. — J.G. Petrucci Co. Inc. is constructing two build-to-suit industrial properties in Middlesex County, N.J. Located at 15 Stults Road in South Brunswick Township, the first building will feature 63,506 square feet of industrial space. Slated for delivery in October, the property will feature high bay clear height, ample parking, loading docks and an ESFR sprinkler system. The second facility, located at 30 Engelhard Drive in Monroe Township, will feature 130,102 square feet of industrial space. Scheduled for delivery in second quarter of 2016, the single- or multi-tenant building will feature high bay clear height, ample parking, loading docks and an ESFR sprinkler system.

August 13, 2015

Florida Industrial Southeast

Cushman & Wakefield Brokers $103M Sale of Industrial Portfolio in St. Petersburg

by John Nelson August 13, 2015

ST. PETERSBURG, FLA. — Cushman & Wakefield has brokered the $103 million sale of a 1.7 million-square-foot industrial portfolio in St. Petersburg. Evergreen Industrial Properties purchased the 34-building portfolio from Miami-based Fleeman Family Trust. The portfolio comprises five industrial parks, including Gateway Business Center, Gateway Business Park, Metropointe Commerce Park, Westbay Corporate Center and Joe’s Creek Industrial Park. The portfolio was 84 percent leased at the time of sale to tenants such as Lockheed Martin, Jabil, L–3 Communications, FedEx, MTS Systems, Worldpac, Digital Lightwave and Jagged Peak.

August 13, 2015

CSRT’s new 11-story corporate headquarters in downtown Cedar Rapids

Industrial Iowa Market Reports Midwest Midwest Market Reports Multifamily Office Retail

Cedar Rapids Rises to Commercial Real Estate Challenge Following Major Flood

by Jeff Shaw August 13, 2015

In the April 2014 edition of Heartland Real Estate Business, I pointed out that the recovery from the historic 2008 flood was nearing completion in Cedar Rapids, a city of approximately 129,000 residents. The last of the damaged city facilities, a recreation center in the Time Check neighborhood on the city’s northwest side, has been demolished. Taking its place will be a new 17,000-square-foot recreation center currently under construction. In July, the Cedar Rapids City Council approved the $600 million flood protection system alignment on both sides of the Cedar River; all the flood system funding plan is now in place, except for the federal appropriation of $78 million pending approval in Congress. Three sections of flood protection are complete or under construction. The National Civic League recognized this feat in 2014 when it named Cedar Rapids as a recipient of the All-America City Award, which recognizes communities that overcome citywide challenges and achieve uncommon results. (The National Civic League is a nonprofit organization that advocates for transparency, effectiveness, and openness in local government.) The city’s strong recovery following the devastating flood in 2008 is evident by the accolades it has received from a variety of media outlets and interest …

August 13, 2015

Industrial North Carolina Southeast

Avison Young Arranges Sale of 124,213 SF Distribution Facility in Metro Charlotte

by John Nelson August 12, 2015

BELMONT, N.C. — Avison Young has brokered the sale of a 124,213-square-foot distribution center located at 2100 The Oaks Parkway in Belmont, a suburb of Charlotte. GCP Capital Group purchased the facility from an unnamed institutional fund advisor for an undisclosed price. The property is fully leased to Industrial Distribution Group Inc. for use by its IDG USA division, which specializes in the distribution of maintenance, repair and operations supplies to industrial customers. Erik Foster, Mike Wilson and Chris Skibinski of Avison Young represented the seller in the transaction.

August 12, 2015

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