NEW ORLEANS — Cushman & Wakefield has brokered the $15.5 million sale of a 358,060-square-foot distribution center located at 1420 Sams Ave. in Elmwood Business Park, a 33 million-square-foot industrial park in New Orleans. Built in 1984, the property was 95.6 percent leased at the time of sale. Mike Davis, Michael Lerner and Rick Brugge of Cushman & Wakefield represented the seller, Columbus Nova, in the transaction.
GRAPEVINE, TEXAS — CBRE Capital Markets’ debt and structured finance team has arranged financing for the DFW Corporate Drive portfolio in Grapevine. CBRE worked on behalf of JLL Income Property Trust to obtain a $17.7 million non-recourse loan. The 10-year, interest-only loan has a fixed interest rate of 3.23 percent and was secured through one of CBRE’s correspondent life companies. The DFW Corporate Drive Portfolio consists of two industrial warehouses totaling 643,429 square feet. The buildings are 100 percent leased to tenants including Kay Chemical, Fleetpride and Harland Clarke. The portfolio is located in the DFW Airport submarket. Greg Greene, Scott Lewis and Matt Ballard with CBRE’s Dallas office originated and secured the financing on behalf of the borrower.
BAYTOWN, TEXAS — Lee Jones and Tommy LeBlanc of Avison Young represented the Hunt Family in the sale of 44 acres near the Grand Parkway to Guy Pfitzner, who was represented by Brenda Wagner of Mary Dunn Real Estate. The property is located a half mile east of Highway 99 on FM 565 in Baytown.
COLUMBIA, MD. — CBRE has arranged a lease on behalf of Deutsche Asset & Wealth Management for 122,044 square feet at Gateway Commerce Center in Columbia, a suburb of Baltimore. The property is situated near I-95, Baltimore/Washington International Thurgood Marshall Airport and Columbia Town Center. National Retail Systems Inc., which includes Keystone Freight Corp. and National Retail Transportation Inc., will utilize the property at 8700 Robert Fulton Drive to provide logistics support for T.J. Maxx. Built in 1971 and remodeled in 1997, Gateway Commerce Center spans more than 48.7 acres with a total of 700,945 square feet and features dock and drive-in loading, an ESFR sprinkler system and 28- to 50-foot clear heights. John Wilhide and Ed Harris of CBRE represented the landlord in the lease transaction.
PINEHURST, TEXAS — Marcus & Millichap has arranged the sale of Ray Childress Storage located in Pinehurst. The asset has 21,600 net rentable square feet and 16,400 feet of covered and uncovered parking. Dave Knobler of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a private investor. Knobler also secured the buyer, a limited liability company. Ray Childress Storage is located at 35615 FM 149 in Pinehurst.
RIDGEFIELD AND NORTH BERGEN, N.J. — Cronheim Mortgage has arranged two loans totaling $13.5 million for two warehouse and distribution facilities in New Jersey. In the first transaction, Cronheim secured $10 million in financing for a 325,340-square-foot warehouse in Ridgefield. The 10-year loan features four years of interest-only payments and a 32-year amortization schedule. The property features 20-foot clear height ceilings, 24,000 square feet of office space, truck loading space and vehicle parking. Additionally, Cronheim arranged a $3.5 million loan for a 235,000-square-foot industrial facility in North Bergen. The 10-year loan features a 30-year amortization schedule. Leased by a wine and spirits company, the facility features 20-foot ceiling heights, ample truck and car parking, and 6,500 square feet of office space. Dev Morris and Andrew Stewart of Cronheim Mortgage arranged the financing in both deals.
ATLANTA — Colliers International has brokered the sale of two industrial assets in metro Atlanta totaling 1.2 million square feet for a combined $42.1 million. Dennis Mitchell and Matt Wirth of Colliers International’s Atlanta office represented the seller, DCT Industrial, in both transactions. The properties included Eagles Landing Trade Center III, a 505,000-square-foot distribution building located at 301 Eagles Landing Parkway in Stockbridge that sold for $21 million, and a five-building industrial portfolio totaling 712,763 square feet in Atlanta’s I-20 West/Fulton industrial submarket that sold for $21.1 million.
CARROLLTON AND COPPELL, TEXAS — ML Realty Partners LLC has arranged 182,764 square feet in lease transactions in its recently delivered industrial developments in Carrollton and Coppell that total 603,276 square feet. Crosby Trade Center, a two-building development in Carrollton, has leased 90,705 square feet to Cashion Home Services LLC, Gunder Associates Inc., Pacific Coast Transportation Inc. and East Penn Manufacturing Co. Park West Crossing, a four-building development located in Coppell, has leased 92,056 square feet to JAS Forwarding Inc., Southwestern Carpets Ltd. and J.C. Ehrlich Co.
LITTLETON, MASS. — MA Littleton Land LLC, a joint venture between an affiliate of Braintree, Mass.-based Condyne Investment Fund II and New York City-based Square Mile Capital Management, has broken ground for a 450,000-square-foot build-to-suit fulfillment center for Potpourri Group. The building is slated to be fully operational in the first half of 2016. Potpourri, a multi-channel direct-to-consumer retailer, will relocate and expand its fulfillment center to the new facility at 3 Distribution Center, in Littleton. The facility will feature a 150-person call center, warehouse space, 400 automobile parking spaces, 18 shipping and receiving docks, 14 trailer staging bays, an emergency generator and racked mezzanine pick levels. Greg Zais and Neil Ross of Jones Lang LaSalle Boston represented Potpourri both on its national site search and documentation, while Deborah Tamulis of Thomson Partners Boston represented Littleton Land LLC in the deal.
CORONA, CALIF. – A 201,345-square-foot industrial building inside the Magnolia Point redevelopment project in Corona has sold to Developlus Inc. for $20.1 million. It is the project’s largest building. The Class A warehouse and distribution space is located at 1560 E. Sixth Street. Amrapur manufactures bedding, towels, comforters, draperies and other home textiles overseas. It imports and distributes from its U.S. headquarters. The company was represented by Ted Sawyer of Lee & Associates. The seller, CT Realty, was represented by Jeff Ruscigno of the same firm, and by CBRE’s Ben Seybold.
