MIAMI — A joint venture between Lincoln Property Co. Southeast and Crow Holdings Capital Partners, has purchased seven acres in Miami’s Medley submarket to develop a Class A, 136,500-square-foot industrial facility. The joint venture purchased the site, located in the Pan American North Business Park, from Abisinia Enterprises Inc. for an undisclosed price. The site features 350 feet of frontage along the Florida Turnpike. The industrial property will feature 32-foot clear ceiling heights, 120-foot truck courts, an ESFR sprinkler system and a 50-foot staging area. Americas Industrial Realty Corp. will lease the property, which is slated for a spring 2015 completion.
Industrial
BRIDGEVIEW, ILL. — NAI Hiffman has arranged the lease of an 117,077-square-foot industrial space in Bridgeview. Menasha Packaging will occupy space at 7800 W. 71st St. The building is adjacent to a 166,663-square-foot facility owned by ML Realty Partners. Menasha, a Wisconsin-based packaging, logistics and marketing services company, signed a lease last year at the adjacent property. Steve Connolly and Chris Gary of NAI Hiffman represented ML Realty Partners in the transaction. Patrick McCaffrey with Avison Young represented Menasha Packaging.
KUTZTOWN, PA. — Cherry Hill, N.J.-based NFI has opened a 1 million-square-foot distribution facility in Kutztown for Ocean Spray. The facility will serve as the distribution center for 40 percent of Ocean Spray’s global volume. The center broke ground in July 2013 and was completed in 10 months. The opening of this facility represents a continuation of the 13-year partnership between NFI and Ocean Spray.
DALLAS — Pappas Harris Properties LLC has acquired a three-building, 81,500-square-foot flex space complex in Dallas. The structures, which are buildings 11, 12 and 13 of Northgate Business Park 1, are located on a 4.4-acre parcel on the corner of Plano Road and Chartwell Drive. The complex is currently 93 percent leased. Matthew Hickey and Tom Smolik of full-service real estate firm TIG brokered the transaction. Northgate Business Park Inc. was the seller.
JOHNSON CREEK, WIS. — The Dickman Co. Inc./CORFAC International has brokered the sale of two industrial buildings totaling 53,800 square feet in Johnson Creek, a city situated approximately 46 miles west of Milwaukee. The properties are located at 258 and 260 Grell Lane. RJ Roehl Investments LLC purchased the buildings from Ashland Inc. Samuel M. Dickman Jr., Samuel D. Dickman and Dave Hazenfield of the Dickman Co. Inc. were the brokers in the transaction.
DALLAS — Cassidy Turley has arranged a 99,811-square-foot industrial lease in Dallas for Bigs Packaging & Lumber LLC, a service provider for the logging and lumber industries. The tenant will occupy space within City Warehouse, a 65-acre industrial park located at 5200 E. Grand Ave. Blake Anderson and David Eseke of Cassidy Turley represented Bigs Packaging & Lumber in the negotiations. Canon Shoults and Joshua Barnes of Holt Lunsford Commercial manage leasing at City Warehouse.
TRACY, CALIF. — Costco Wholesale Corporation has acquired the remaining two buildings at Patterson Pass Business Park in Tracy for an undisclosed sum. The facilities are located at 25850-25928 S. Corporate Court and 17270-17350 Commerce Way, between Hayward and Modesto. The wholesaler acquired the first Patterson building, an 84,000-square-foot warehouse, from Lowenberg Associates this past November. It now owns all three of the business park buildings, which total 265,687 square feet on more than eight acres. Lowenberg had acquired the three-building complex in 2009. This transaction was executed by Michael Goldstein, Gregory O’Leary and Greig Lagomarsino of Colliers.
SEAL BEACH, CALIF. — Rexford Industrial Realty has acquired a 170,865-square-foot industrial building in the Orange County submarket of Seal Beach for a reported $21.1 million. The Class A building is located at 1700 Saturn Way in the Pacific Gateway Business Park. It is fully leased to Dendreon Corporation. The biotechnology company invested about $65 million to transform the building into a drug manufacturing facility with extensive HVAC, mechanical, plumbing and electrical system improvements. Dendreon focuses on the discovery, development and commercialization of novel therapeutics that may improve cancer treatment options for patients. Darla Longo, Barbara Emmons, Rebecca Perlmutter, John Schumacher and Brian DeRevere of CBRE’s Capital Markets represented both Rexford and the seller, an institutional owner, in this transaction.
MCCOOK, ILL. — The PrivateBank has provided a $27.2 million construction loan to the Bridge Development Group to finance a 365,369-square-foot distribution center in McCook. The property located at 8201 W. 47th St. is a build-to-suit property for Freeman Decorating Services Inc., a tradeshow exhibit company. The PrivateBank served as the administrative agent in the transaction. Associated Bank served as the joint lead arranger.
MONROE, CONN. — Maplewood Senior Living LLC, an assisted living and memory care facility, has leased warehouse space at 580 Pepper St. in Monroe. The company will occupy 10,000 square feet of warehouse space the building leaving approximately 12,000 square feet of flex space available. Jon Angel of Southport, Conn.-based Angel Commercial LLC represented both the tenant and the landlord in the transaction. Terms of the lease were not disclosed.