SOUTH HACKENSACK AND SECAUCUS, N.J. — G.S. Wilcox & Co. has closed two loans totaling $19.7 million for two properties in New Jersey. Gretchen Wilcox and Al Raymond of G.S. Wilcox & Co. originated a $13.5 million loan for a local value-add fund. The loan will be used to acquire a 245,824-square-foot industrial property in South Hackensack. The five-year loan features a 25-year amortization schedule. In the second deal, Wilcox and David Fryer arranged a $6.2 million loan for a 100,000-square-foot, fully occupied industrial property in Secaucus. The 10-year loan features a 25-year amortization schedule. The borrower was not disclosed. Mutual of Omaha, a correspondent lender, provided funding for both loans.
HOUSTON — JLM Commercial Advisors has negotiated a build-to-suit lease of an 8.5-acre industrial tract with 21,500 square feet of workshop space and 8,500 square feet of office space. The space will be used for Pipeline Research Council International’s technology development center. The complex is located at 6410 Langfield Road in the Northwest Crossing Industrial Park. The property will be one of the largest independent pipeline testing facilities of its kind in the world. Lane Guinn of JLM Commercial Advisors represented the tenant in the negotiations. Dan Zoch of The Carson Cos. represented the landlord, Carson-VA Industrial.
WACO, TEXAS — Global packaging company Sonoco plans to expand its Waco location this year, with the project seeing completion in early 2016. Sonoco will install a new rotary die-cut machine, slitter and rotogravure printing press, investing $13.5 million in equipment at the facility and adding an estimated 15 jobs to the area, which is a 27 percent increase to its employment base. Sonoco produces a variety of flexible packaging options, including easy open/reseal packaging systems, bags and pouches. Sonoco’s flexible packaging technologies include roto and flexo printing, high-barrier laminations, precision scoring, integrated open and reclose features, specialty coatings and films, prototyping and graphics management.
MENOMONEE FALLS, WIS. — The Dickman Company Inc./CORFAC International has brokered the sale of a 52,820-square-foot building located at Megal Drive in Menomonee Falls, 20 miles northwest of Milwaukee. Terms of the transaction were undisclosed. Jablonka Investments LLP purchased the building from the Jerona LLC. Samuel Dickman Jr., Samuel Dickman and Nick Keys represented the seller. Trent Poole of CBRE represented the buyer in this transaction.
ODESSA, TEXAS — ARCO/Murray has begun construction on a 10,000-square-foot building addition for AmeriPride Services in Odessa. AmeriPride is taking on the project due to the rapid growth in Odessa and the surrounding market area. The expansion will provide space to accommodate additional production equipment as well as improve soil and clean docks for loading and unloading. ARCO/Murray is providing a complete design/build solution including architectural and engineering design, permitting and construction. ARCO/Murray’s Matt Drake is the project manager and Jason McLaughlin will serve as project executive. ARCO/Murray is a national design and construction firm specializing in commercial construction and real estate.
WILMER, TEXAS — Diamond Realty Investments, a wholly owned subsidiary and U.S. real estate investment arm of Mitsubishi Corp., has formed a joint venture with Port Logistics Realty to develop the first phase of the 9 million-square-foot, $500 million Southport Logistics Park in Wilmer. The project is of the largest industrial developments currently underway in the United States. Diamond Realty has more than 20 years of real estate investment experience in the U.S., having invested in more than $2.5 billion in approximately 120 developments in the industrial, multifamily and student housing industries. Diamond Realty’s venture partner in Southport Logistics Park is Texas-based Port Logistics Realty, a real estate company controlled by CT Realty and Xebec Realty. When complete, the development will have up to nine buildings ranging is size from 400,000 to 1.5 million square feet on 530 acres. With the first two buildings scheduled for completion in the first quarter of 2016, the Class A industrial park has been designed for large users of distribution, logistics and e-commerce facilities by architectural firm Ware Malcomb. Southport Logistics Park is located within the Inland Port area of southern Dallas County, approximately 10 miles south of Downtown Dallas and directly across Interstate …
EAST POINT, GA. — Duke Realty’s Atlanta office plans to develop a 614,880-square-foot speculative warehouse in Camp Creek Business Center. Duke Realty owns the 400-acre industrial park, located off I-285 near Hartsfield-Jackson Atlanta International Airport. The property will be located at 4909 N. Commerce Drive in East Point and will feature 36-foot clear heights, 125 dock doors, 337 automobile parking spaces, 125 trailer parking spaces. The development also includes land that can be used for tenants to build concrete truck courts. Duke Realty plans to deliver the asset in January 2016.
TITUSVILLE, FLA. — Flagler Global Logistics has broken ground on the new 246,240-square-foot Titusville Logistics Center in Titusville. The ground breaking marks the start of construction of Port Canaveeral’s first multi-modal inland port facility. Set for completion in early 2016, the facility will support expanding cargo and container terminals. The Canaveral Port Authority is the first major tenant at the property, which will have direct rail connectivity to the Florida East Coast Railway and easy access to I-95 and US Highway 1. The property will also be close to Port Canaveral and adjacent to Space Coast Regional Airport.
TRACY, CALIF. — Ridgeline Property Group has announced its plans to develop Tracy Pescadero Distribution Center, a 381,600-square-foot regional distribution facility, just west of Modesto. The speculative facility will be located at 1700 East Pescadero Ave. in Tracy. The new development will feature feature 32-foot clear heights, 57 dock-high doors, two drive-in doors, a 185-foot truck court, 92 trailer parking spaces, 317 auto parking spaces, and early suppression fast response (ESFR) fire sprinklers. The site has access to interstates 205 and 580, in addition to Highway 99. It is also situated near the Union Pacific and Burlington Northern Santa Fe intermodal facilities. Construction is set to commence this October, with completion scheduled for May. Tom Davis and Darren McFadden of Lee & Associates will market the property. LaSalle Investment Management is Ridgeline’s investment partner on this project.
CARLSTADT, N.J. — NAI James E. Hanson has arranged a 23,062-square-foot industrial lease at a newly renovated building located at 495 Barell Ave. in Carlstadt. The newly signed tenant is KS Trading Corp., a manufacturer and marketer of casual clothing for boys. KS Trading Corp. will utilize the building to house and distribute its golf apparel line of clothing as it grows its distribution capabilities and services. The property features three loading docks, ample column spacing and 16-foot ceiling heights. Thomas Vetter and Jeffrey DeMagistris of NAI Hanson represented the landlord, Barell 495 LLC, while William Lee of Eastern International Realty represented the tenant in the long-term lease transaction.