CITY OF INDUSTRY, CALIF. – The Unical Industrial Building in the City of Industry has received $26.7 million in acquisition financing. The 472,876-square-foot building is located at 680 S. Lemon Ave. Financing was based on a 17-year term and a 17-year amortization schedule.It was arranged by Michael Elmore of NorthMarq Capital’s Los Angeles regional office on behalf of the new owner-user.
RANCHO CUCAMONGA, CALIF. – A 138,595-square-foot industrial property in Rancho Cucamonga has sold to CT Realty Investors for $9 million. The property is located at 10401 Seventh Street. The seller, Waitex International, will lease back the property. The rate and terms of that lease were not disclosed.CT’s newest acquisition is attached to a 177,550-square-foot building that was purchased by the firm last year. That property is located at 10404 Sixth Street and is fully leased to GiTi Tire USA Ltd.CT plans to redevelop both properties once Waitex’s lease expires. GiTi has agreed to a new long-term lease for both buildings that will commence once the renovations are completed.Jamie Harrison of Lee & Associates Investment Services Group in Los Angeles represented both the buyer and the seller in this transaction.
PEACHTREE CITY, GA. — Marcus & Millichap Capital Corp. (MMCC) has arranged $10.8 million in refinancing for a 301,704-square-foot industrial warehouse asset in Peachtree City. Tim Kinney of MMCC's Atlanta office arranged the 10-year loan with a 5.4 percent fixed interest rate and a 30-year amortization schedule through a CMBS lender.
BETHLEHEM, PA. — Selvaggio & Sons Plumbing and Heating has signed a five-year lease for 14,200 square feet in Bethlehem, located about 60 miles north of Philadelphia. The company, which specializes in plumbing heating, ventilating and air conditioning, plans to use the warehouse space for supplies and a service department. The property is located at 22 S. Commerce. Mike Adams of NAI Summit represented the landlord, 297 Getty Ave Associates LLC, in the transaction.
ARLINGTON, TEXAS — KTR Property Trust III has purchased an industrial asset comprising three buildings and 543,000 total square feet in Arlington, a suburb of Dallas/Fort Worth. Located at 600 109th Street in the Lower Great Southwest submarket, the property includes two trailer yards and was 100 percent leased at the time of sale. Michelle Hudson of Hudson Peters Commercial represented the buyer, an investment vehicle of KTR Capital Partners. John Brewer of CBRE represented the seller.
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 Properties for 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.
CITY OF INDUSTRY, CALIF. – The Unical Industrial Building in the City of Industry has received $26.7 million in acquisition financing. The 472,876-square-foot building is located at 680 S. Lemon Ave. Financing was based on a 17-year term and a 17-year amortization schedule. It was arranged by Michael Elmore of NorthMarq Capital’s Los Angeles regional office on behalf of the new owner-user.
RANCHO CUCAMONGA, CALIF. – A 138,595-square-foot industrial property in Rancho Cucamonga has sold to CT Realty Investors for $9 million. The property is located at 10401 Seventh Street. The seller, Waitex International, will lease back the property. The rate and terms of that lease were not disclosed. CT’s newest acquisition is attached to a 177,550-square-foot building that was purchased by the firm last year. That property is located at 10404 Sixth Street and is fully leased to GiTi Tire USA Ltd. CT plans to redevelop both properties once Waitex’s lease expires. GiTi has agreed to a new long-term lease for both buildings that will commence once the renovations are completed. Jamie Harrison of Lee & Associates Investment Services Group in Los Angeles represented both the buyer and the seller in this transaction.
GLOUCESTER TOWNSHIP, N.J. — Kärcher North America has signed a 130,930-square-foot warehouse lease at 500 University Court in Blackwood, a community within Gloucester Township. Remaining in Blackwood, Kärcher’s relocation to the 275,930-square-foot building will double its amount of space. Kärcher North America is a manufacturer of commercial, industrial and consumer cleaning equipment, with manufacturing and distribution facilities throughout the country. The company’s new space will feature 10,000 square feet of office, 24-foot ceilings, 16 tailgate loading doors and one oversized drive-in door. Marc Isdaner, senior vice president and principal of the Colliers International’s Southern New Jersey office represented Kärcher in the transaction. NAI Mertz represented the landlord.
ALPHA, N.J. — NAI James E. Hanson has arranged the sale of a two-story building at 43 Industrial Drive in Alpha, N.J. The 25,600-square-foot property traded for $1.3 million. Sig Schorr, vice president at NAI Hanson, represented the seller, Alpha Press, in the transaction. Schorr also procured the buyer, Hunterdon Transformer, which designs and manufactures high-performance magnetic devices. Located on 7.3 acres, the building features a tool and parts department with a supervisor’s office, machine shop area and 4,000 square feet of office space on each floor.