FORT COLLINS, COLO. – Genesis Hospitality has subleased 20,000 square feet of industrial space in Fort Collins. The space is located at 1730 East Prospect Road. It was sublet from Advanced Energy. Jared Goodman and Jason Ells of Cassidy Turley and JLL’s Mike Deatly and Todd Roebken represented both parties in this transaction.
WESTMONT, ILL. — Darwin Realty & Development Corp. has arranged the sale of a 23,164-square-foot industrial building in Westmont. The property is situated on more than two acres located at 50 W. Ogden Ave. Built in 2005, the property features 7,200 square feet of office space and 18-foot to 24-foot clear ceiling heights. George Cibula and Noel Liston represented the seller, a private investor. Brian Butler of The Butler Group represented the buyer, Breen Horizon LLC, which plans to lease the property.
STAFFORD, TEXAS — NAI Houston has represented SBP-Development III Ltd. in the sale of a 15,000-square-foot, single-tenant industrial building located at 13340 Pike Road in Stafford, a suburb of Houston. John Ferruzzo, Darren O’Conor and Joshua Lass-Sughrue of NAI Houston represented the seller, SBP-Development III. Mike McMahon of REOC General Partners LLC represented the buyer, Blank Universal LLC.
AVENEL, N.J. — CenterPoint Properties has acquired a manufacturing and warehouse building at 11 Cragwood Road in Avenel for $25.2 million from a joint venture of Ivy Equities and CenterSquare Investment Management. Situated on nearly 20 acres, the 317,500-square-foot building has been fully leased to Gentek Building Products since the 1970s. Gary Gabriel, Andrew Merin, David Bernhaut, Kyle Schmidt, Brian Whitmer, Frank Caccavo and Jason Goldman of Cushman & Wakefield’s Metropolitan Area Capital Markets Group brokered the transaction.
MECHANICSBURG, PA. — Woodmont Industrial Partners (WIP) has completed the sale of a distribution center, located at 34 Dauphin Drive in Mechanicsburg. Exeter Property Group purchased the 180,333-square-foot property for $8 million. Situated on 10.6 acres, the property features 3,200 square feet of office space, 24-foot ceilings, 20 dock positions and 10 rear rail doors. WIP originally acquired the rail-served center in 2012, and after extensive renovations leased the facility to Allen Distribution, a third-party logistics provider. Prior to the lease and sale of the facility, WIP implemented a six-month rehab program, including the incorporation of an ESFR sprinkler system and T-5 lighting, among other improvements.
WEST MILWAUKEE, WIS. — NAI MLG Commercial has brokered the sale of a 24,000-square-foot industrial building located at 4545 W. Burnham St. in West Milwaukee. Samuel Check Family Trust sold the property to Office Service Co. LLP for an undisclosed price. Travis Tiede, Mitchell Starczynski, Adam Matson and Brett Garceau of NAI MLG Commercial brokered the transaction.
SHAWNEE, KAN. — Cassidy Turley has arranged two leases totaling 50,000 square feet at WestLink Business Center in Shawnee, located 10 miles southwest of Kansas City. The 170,000-square-foot industrial building is located at Highway K-7 and 43rd Street. The property is now fully leased following the two lease transactions. Missouri Valley Wildlife Products leased 20,000 square feet of space at 23112 W. 43rd St. for five years, and NWC of Kansas LLC leased 30,000 square feet at 23108 W. 43rd St. for 10 years. Brad Jacobs and Whitney Kerr, Jr. of Cassidy Turley represented the landlord, Airtex Inc., in the lease transactions. Airtex is planning to develop buildings two and three at the site, pending incentives and city approvals. The newly constructed WestLink Business Center was built on a speculative basis and delivered in January. The property features 28-foot clear heights, ESFR sprinkler systems, T5 lighting and dock and drive-in loading options.
ANGLETON, TEXAS — NAI Houston has brokered the acquisition of 10.4 Acres at Highway 288 Business and CR 220 in Angleton. The site will be developed into an eight-building industrial park. Joel Michael of NAI Houston represented the buyer, Teal Development, in the transaction. Bob Peltier of Bob Peltier & Associates Real Estate represented the seller, Second Baptist Church of Angleton.
MIDDLETOWN, PA. — CIT Real Estate Finance has provided a $32.9 million senior-secured loan to a joint venture between AEW Capital Management and Woodmont Industrial Partners. The financing will be used to redevelop Capital Logistics Center into a Class A, six-building, 1.5 million-square-foot industrial park in Middleton. AEW owns the property on behalf of AEW Partners VI. Financing was provided by CIT Bank, the U.S. commercial bank subsidiary of CIT. Terms of the transaction were not released.
MARINE CITY, MICH. — L. Mason Capitani CORFAC International has arranged the sale of a 153,000-square-foot industrial facility in Marine City. LTC Roll & Engineering purchased the property located at 7177 Marine City Highway for an undisclosed sales price. LTC Roll & Engineering is a manufacturer of metallic components and assemblies supplying the automotive, building products and alternative energy market segments. Jason Capitani and Joe DePonio of L. Mason Capitani represented LTC Roll & Engineering in the transaction.