MORRISVILLE, N.C. — Cushman & Wakefield | Thalhimer has arranged the $9.2 million sale of the Research Triangle Industrial Center, a three-building industrial park totaling 153,629 square feet in Morrisville. The property is located at the intersection of Highway 54 and Airport Boulevard in the heart of Raleigh-Durham's top industrial submarket. Peter Lawrence Co. purchased the 93 percent leased property. Chris Norvell and Scot Humphrey of Cushman & Wakefield | Thalhimer's capital markets group represented the seller, Cambridge Hanover.
GERMANTOWN, MD. — NorthMarq Capital has arranged $3.3 million in first mortgage refinancing for Churchill Business Center, a 39,917-square-foot industrial facility located at 13210-13220 Wisteria Drive in Germantown. The property is fully leased to tenants such as Selvadurai Palanivelu, Autobody Connection and Sherwin Williams. Matthew Kohlhoss of NorthMarq's Washington, D.C., office arranged the 25-year loan with a 20-year amortization schedule.
DALLAS — HFF has arranged the sale of a two-property, 754,554-square-foot, Class A industrial portfolio in the Dallas-Fort Worth Metroplex. Included are Northlake Industrial Center, located three miles north of the Alliance Texas mixed-use development on Interstate 35, and Towne Lake Business Park Two, immediately south of Dallas/Fort Worth International Airport. Randy Baird, Jud Clements and Robby Rieke of HFF represented the seller, Panattoni Development. Private real estate investment firm Cabot Properties purchased the portfolio, which was 100 percent leased at the time of sale.
FORNEY, TEXAS — The firm of Henry S. Miller has brokered the sale of a 25,000-square-foot industrial property in Forney, located 20 miles east of Dallas. Henry S. Miller’s Jerry Averyt and Greg Trout represented the seller, First State Bank of Mesquite. The facility, situated on 1.25 acres, will be the new home of Willard Heat and AC, which is relocating from their current smaller facility in Forney. Stephen Cooper of NAI Robert Lynn represented Willard.
SAN DIEGO – Kiernan Companies has purchased 10.1 acres of industrial land in San Diego for $3.6 million. The land is located at 10138 Airway Road in the Otay Mesa submarket. It resides within the Airway Business Center. Kiernan was represented by Brian Rolens and Michael Bauer of Fischer & Company. The seller, MS Development Company LLC, was represented by CBRE’s Rob Hixson, Rich Kwasny and Alexandra Allsup.
WEST ALLIS, WIS. — The Dickman Co. Inc./CORFAC International has completed the sale of a 50,845-square-foot industrial building in West Allis, about six miles west of Milwaukee. Samuel M. Dickman Jr. and Samuel D. Dickman of the Dickman Co. represented the seller, C.D.D.M. Enterprises LLC, in the transaction. Trent Poole of CBRE represented the buyer. The industrial property is located at 10930 W. Lapham St.
SCHAUMBURG, Ill. — Samwon Tech has purchased a 98,456-square-foot industrial property in Schaumburg, a Chicago suburb, for $5.2 million. Wiley Road Industrial Park LP sold the 11-unit property located at 1261 Wiley Road. Built in 1983, the property is fully leased to clients including Sherman Williams, Prism Healthcare and The Kaman Corp. Samwon Tech is an industrial metal fitting supplier and manufacturer whose parent company is based out of Korea. John Sharpe, a principal at Lee & Associates, represented Wiley Road Industrial Park in the transaction. Ronan Remandaban, also of Lee & Associates, represented Samwon Tech.
WAYNE, MICH. — Bernard Financial Group has arranged a $2.2 million loan for Rush Investments 1 & 2 Portfolio in Wayne, located about 20 miles west of Detroit. The portfolio includes an owner-occupied truck terminal and four multi-tenant office buildings. Rush Investments 1 LLC and Rush Investments 2 LLC are the borrowers. StanCorp Mortgage Investors LLC, a servicing correspondent of Bernard Financial Group, was the lender. Bernard Financial Servicing Group, a mortgage banking firm representing several life insurance companies and conduits in Michigan, will provide partial servicing for this loan. David Dismondy of Bernard Financial Group originated the loan.
SAN DIEGO – Kiernan Companies has purchased 10.1 acres of industrial land in San Diego for $3.6 million. The land is located at 10138 Airway Road in the Otay Mesa submarket. It resides within the Airway Business Center. Kiernan was represented by Brian Rolens and Michael Bauer of Fischer & Company. The seller, MS Development Company LLC, was represented by CBRE’s Rob Hixson, Rich Kwasny and Alexandra Allsup.
HENDERSON, NEV. — Valley Freeway Commerce Center, a 229,000-square-foot industrial center in the Las Vegas submarket of Henderson, has sold to Harsch Investment Propertiesfor an undisclosed sum. The four-building center is located at 7565, 7585, 7665 and 7685 Commercial Way. It is currently 58 percent leased. Harsch was represented by Mike Delew and Greg Pancirov of Colliers International. The seller was Iyar Realty ADA Compliant Limited Partnership.