NEW YORK CITY — Marcus & Millichap has brokered the sale of an industrial building located at 190 Morgan Ave. in Brooklyn. The 14,875-square-foot property sold for $3.5 million. Jakub Nowak and James McGuckin of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, and the buyer, a limited liability company, in the deal.
BENSALEM, PA. — Bensalem-based Roddy Inc. has brokered the sale of an industrial building located at 1436 Wells Drive in Bensalem. Alexandria Ventures III LLC sold the property for $2.5 million to 1436 Wells Drive Associates LLC. The 42,000-square-foot building consists of three industrial condominium units featuring 19-foot ceiling heights and 1,798 square feet of office space. Universal Asset Recovery LLC, a wholesale supplier of used office equipment, occupies the facility. Robert Olender of Roddy Inc. represented the seller.
IRVINE, CALIF. – A 44,800-square-foot industrial property in Irvine has sold to 17392 Daimler LLC for $7.2 million. The building is located at 17392 Daimler Street, near the 55 and 405 freeways. The property includes three ground-level loading doors and a dock-high truck well-located at the rear of the building. The LLC was represented by Doug Killian of VRES. The seller, Burke Daimler LLC, was represented by Alan Pekarcik and Dan Vittone of Avison Young and Sam Olmstead of Voit Real Estate Services.
BROOKLYN PARK, MINN. — The Opus Group plans to develop a 145,800-square-foot speculative industrial office and warehouse facility in Brooklyn Park. The new property will be located at the intersection of 85th Avenue and Wyoming Avenue North. The building will be conducive for single or multi-tenant occupancy. Construction of the facility will begin in May and completion is scheduled for this fall. Opus Development Co. and Founders Properties will own the property. Opus Development Co. will be the project’s developer. Opus Design Build is the design-builder for the project and Opus AE Group is the architect and engineer of record. Cushman & Wakefield/NorthMarq will market the property for lease.
EDISON, N.J. — HFF has brokered the sale of an industrial facility located at One Truman Drive South in Edison. IC/L-A One Truman Drive LLC, wholly owned by affiliates of Lubert-Adler Partners, sold the 369,313-square-foot property to Cohen Asset Management Inc. and institutional investors advised by J.P. Morgan Asset Management – Global Real Assets. In addition to marketing the property on behalf of the seller, HFF arranged a fixed-rate acquisition loan through Principal Real Estate Investors for the buyers. Michael Nachamkin, Jose Cruz and Robert Borny of HFF represented the seller in the transaction. Jon Mikula and Michael Klein, also of HFF, secured the financing for the purchaser.
BLOOMSBURG, PA. — R.R. Donnelley has completed the disposition of its 370,000-square-foot industrial building located in Bloomsburg. Sekisui Polymer Innovations LLC purchased the facility for an undisclosed price. Situated on 56.63 acres at 4411 Old Berwick Road, the property features 26-foot ceiling heights, T-8 fluorescent lighting, a wet sprinkler system, 10,500 square feet of office space, 16 dock doors with levelers and seals, two drive-in doors and parking for 480 vehicles. Michael Treacy of Binswanger and Berwick Industrial Development Association brokered the transaction on behalf of R.R. Donnelley.
LOS ANGELES – American Realty Advisors has acquired Shoemaker Distribution Center, a 175,000 square-foot warehouse space in the Los Angeles submarket of Santa Fe Springs, for an undisclosed sum. The space is located at 15050-15066 Shoemaker Ave. It is fully leased to tenants like J.B. Hunt Transport Services, Altaquip LLC, Pacific Diving Academy USA Inc., Spartech Corporation and Sysonic USA. American Realty Advisors represented itself in this acquisition. The seller, an entity controlled by Lincoln Property Company, was represented by CBRE’s Barbara Emmons, Darla Longo, Rebecca Perlmutter and Laird Perkins.
NEW YORK CITY — Marcus & Millichap has brokered the sale of an industrial property located at 489 Baltic St. in Brooklyn. The 6,242-square-foot property sold for $1.6 million. Jakub Nowak and Hemal Patel of Marcus & Millichap represented the seller, an individual/personal trust, and the buyer, a private investor, in the transaction.
PHOENIX – Twin City Hardware has leased 25,960 square feet of industrial space in Phoenix. The space is located at 5670 S. 40th Street. The hardware company signed a five-year lease. The space is owned by Arizona Industrial Properties. Twin City Hardware was represented by Mike Ciosek and Eric Bell of Voit.
DALLAS — Marcus & Millichap has arranged the sale of Ken Griffin Mini Storage, an 18,639-square-foot self-storage facility located in Dallas. The asset sold for $525,000. Brandon Karr and Danny Cunningham of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Karr and Cunningham represented the buyer, another private investor. Ken Griffin Mini Storage is located at 3020 Duncanville Road. The facility was built in 1978 and features a manager’s office, garage-style doors, personalized keypad gated entry, video surveillance, perimeter fencing and lighting and concrete driveways. The property sits on more than one acre and includes 167 non-climate controlled storage units and three open parking spaces.
