LANCASTER, TEXAS — NFI, supply chain solutions provider, will open a distribution center in in Lancaster in partnership with Rent-A-Center. The facility is the first of several distribution centers that will support Rent-A-Center operations across North America. Rent-A-Center offers furniture, electronics, appliances and computers through rental-purchase agreements at over 3,000 retail locations in the United States, Canada, Mexico and Puerto Rico.
COLUMBUS, OHIO — Alterra Real Estate Advisors, with a group of investors, has acquired an industrial building located at 711 Distribution Drive in Columbus. Situated on nine acres, the 208,000-square-foot property sold for $2 million, or $9.76 per square foot. Alterra will lease and manage the property, which is currently 50 percent occupied by Quad Graphics. The property was acquired at auction.
DENVER – A 61,954-square-foot industrial property in Denver has sold to Parkhill Development Company for $5.5 million. The space is located at 3000 and 3201 Walnut Street. The seller, WSM Properties, was represented by DTZ’s Aaron Valdez, Alec Rhodes and Tyler Smith.
CITY OF INDUSTRY, CALIF. – Gordon Brush Mfg. Co. has purchased a 182,853-square-foot industrial building in the Los Angeles submarket of the City of Industry for an undisclosed sum. The property is located at 3737 Capitol Ave. The industrial brush manufacturer plans to relocate to the building, which will allow it to consolidate its operations. The company will occupy 100,000 square feet and lease the remaining space. Gordon Brush was represented by Jeff Bethel and Jack Cline of Lee & Associates.
DEVENS, MASS. — Calare Properties and Hackman Capital Partners have completed the disposition of a manufacturing facility located at 112 Barnum Road in Devens. A large institutional real estate investor acquired the 392,000-square-foot property for $36 million. Originally constructed in 2010, the property features manufacturing and research facilities including oversized air handling and humidification emergency diesel generators and gas distribution systems. Robert Gibson, Bill Moylan, Chris Angelone, Bruce Lusa and John Meador of CBRE/New England represented the seller in the transaction.
SHAKOPEE, MINN. — The Opus Group and AmerisourceBergen, a global healthcare solutions provider, have partnered to develop a build-to-suit distribution center within Valley Park Business Center in Shakopee. Opus’ design-build capabilities will allow for a quick turnkey building customized for AmerisourceBergen’s needs. The facility will include warehouse space and two stories of office space. Construction is slated to begin in July with a scheduled completion in 18 to 24 months. Opus Development Co. will be the developer, Opus Design Build will be the design-builder and Opus AE Group will be the architect and engineer of record.
GRIMES, IOWA — R&R Realty Group has completed the development of Prairie Business Park I, a 260,000-square-foot Class A industrial facility in Grimes. Situated at the southeast corner of S. James Street and SE 37th Street, the facility features ESFR sprinklers and 32-foot clear heights, which increase pallet capacity by 20 to 25 percent compared with 26-foot clear height facilities. Plans for a second warehouse facility in Prairie Business Park are underway. Realty Marketing Group is serving as the listing agent for the business park.
LOS ANGELES – The Magellan Group has broken ground on a 501,270-square-foot industrial park in the Los Angeles submarket of El Monte. The $55 million Magellan Gateway will be located at 4127-4213 Temple City Blvd. Magellan purchased the 26.8-acre site one year ago. It was one of the largest infill industrial parcels left in Greater Los Angeles at the time, according to the firm. The company also notes Magellan Gateway is the first new large-scale industrial development in El Monte since 2008. The project will offer 14 units ranging in size from 10,905 square feet to 164,284 square feet. It is scheduled for completion during the fourth quarter of this year. Magellan Gateway will be designed by HPA Architecture. Robin Dodson, John Minervini, Erik Larson and Chris Tolles of Cushman & Wakefield will serve as the project’s leasing agents.
PEDRICKTOWN, N.J. — Five Below (NASDAQ: FIVE), a retailer catering to pre-teens and teens, and supply-chain company NFI have opened a more than 1 million-square-foot distribution center in Pedricktown. Five Below will occupy 700,000 square feet of the property, which broke ground in September 2014, and use the property as its eastern U.S. distribution center servicing more than 300 retail store locations in the region. The new distribution center is bringing an estimated 100 jobs to the area. The facility features three miles of conveyor equipment and 2,500 tons of steel racking to support year-round operations.
LAKE ORION, MICH. — Bernard Financial Group has arranged a $5.7 million non-recourse loan for BKG Orion, a 115,545-square-foot office and industrial property located in Lake Orion. The borrower is BKGE Orion LLC. Dennis Bernard and Kevin Kovachevich of Bernard Financial, which will service the loan, arranged the financing, which was provided by a national CMBS lender.