EDISON, N.J. — NorthMarq’s Boston office has arranged a $14.2 million first mortgage loan for the refinancing of an industrial portfolio in Edison. The properties are located at 300 Columbus Circle and 400 Raritan Center and total 204,440 square feet. Financing was based on a five-year term and includes a 25-year amortization schedule. NorthMarq arranged this financing for the borrower, High Street Equity, through a life insurance company lender.
ST. LOUIS, MO. — Plumbers Supply Co. (PSC) has purchased a 51,000-square-foot building located at 4500 Swan Ave. in St. Louis for $975,000. PSC will move from its current 30,000-square-foot headquarters at 6135 Horton Place in University City to its new location in September. Jake Shepley of Hilliker Corp. represented the buyer.
DES PLAINES, ILL. — Entre Commercial Realty LLC has brokered an industrial lease for 34,106 square feet at 2064 South Mannheim Road in Des Plaines, a northwest suburb of Chicago. Process Gear, a 60-year old company that creates custom manufacturing products, is relocating from Schiller Park to the industrial property. Tom Boucher and Dan Benassi of Entre Commercial Realty LLC represented the landlord and Ed Lowenbaum of Lowenbaum REP represented the Process Gear in the transaction.
HOUSTON — Angelic Real Estate has arranged a $24.4 million loan on a seven-property industrial portfolio in Houston known as the Jaymar portfolio. The three-year, floating rate loan includes an extension option for up to two additional years. Interra Properties has taken over property management and leasing responsibilities and has increased occupancy to 90 percent as of the loan closing. Gabriel Silverstein and Louis D’Lando of Angelic Real Estate led the financing team. Northstar Realty Finance Corp. was the lender in the transaction.
COMMERCE, CALIF. – A seven-acre logistics facility in Commerce has sold to CenterPoint Properties for an undisclosed sum. The property is located at 5800 Sheila Street near the BNSF and Union Pacific intermodal rail yards. The transload facility includes a container yard. It is currently occupied by Pacer Cartage, a subsidiary of the Pacer International. CenterPoint was represented by Jack Cline Jr. and Gregory Gill of Lee & Associates.
RICHMOND, VA. — Thalhimer Realty Partners, the investment and development subsidiary of Cushman & Wakefield | Thalhimer, has acquired an approximately 100,000-square-foot industrial building located at 3200 W. Clay St. in Richmond from ABNOR Corp. for $1.8 million. Thalhimer plans to redevelop the property into a 100-unit apartment community that will also include a clubhouse, fitness center, pool and interior parking. Construction will begin in January 2014. Walter Parks Architects will design the project and MGT Construction will build it. Upon completion, Cushman & Wakefield | Thalhimer’s Residential Property Services Group will manage it.
HUDSON, N.H. — Good Neighbors Specialty Foods LLC has signed a lease for a 26,600-square-foot facility at 27 Executive Drive in Hudson, located about 20 miles south of Manchester. The property will serve as the headquarters for the organic food company and be used for food production, manufacturing, warehousing and distribution. Dave Fraser of Tinkham Realty Inc. represented Good Neighbors in the transaction. Karen Leonard of Leonard Lee Co. LLC represented the landlord, Lessor Blueberry Realty Trust.
COMMERCE, CALIF. – A seven-acre logistics facility in Commerce has sold to CenterPoint Properties for an undisclosed sum. The property is located at 5800 Sheila Street near the BNSF and Union Pacific intermodal rail yards. The transload facility includes a container yard. It is currently occupied by Pacer Cartage, a subsidiary of the Pacer International. CenterPoint was represented by Jack Cline Jr. and Gregory Gill of Lee & Associates.
MCDONOUGH, GA. — KTR Capital Partners has acquired a 504,000-square-foot distribution center located in the Atlanta suburb of McDonough. Situated at 220-230 Greenwood Court, the Class A building totals 504,000 square feet. It features 30-foot clear ceilings, 50-foot by 50-foot column spacing, cross-dock loading, ESFR sprinklers and trailer parking. It is currently vacant, but KTR plans to immediately reposition it. With this purchase, KTR’s Atlanta portfolio comprises six properties totaling 3.2 million square feet of space.
OXFORD, ALA. — Landmark Commercial Real Estate Services has arranged the sale of the Lowe’s Home Improvement Warehouse located in Oxford for approximately. $11.2 million. The 135,197-square-foot property is situated at 1836 U.S. Highway 78 East. A non-traded REIT purchased it from a Toronto-based private investor. Daniel Kukes and Kevin Baker represented the buyer in the deal.
