ONTARIO, CALIF. – A 115,316-square-foot industrial building in Ontario has received a $4.2-million refinance. The building is located at 4502 E. Airport Drive. It is occupied by the Newark Group. The non-recourse, 10-year loan features a 25-year amortization schedule. It was arranged by Robert R. Hervey of NorthMarq Capital’s Los Angeles office through the firm’s relationship with a correspondent life company.
Industrial
MILWAUKEE — The Dickman Co. Inc./CORFAC International has brokered the sale of a 42,550-square-foot industrial building in Milwaukee. The property is located at 7221 W. Parkland Court. Empower Properties LLC purchased the building from Parkland Court Enterprises. Samuel M. Dickman Jr., Samuel D. Dickman and Nick Keys of The Dickman Co. represented the seller in the transaction. Rand Wolf of The Boerke Co. Inc. represented the buyer.
WINDSOR LOCKS, CONN. — West Hempstead, N.Y.-based GTJ REIT has acquired an industrial property located at 110 Old Country Circle in Windsor Locks for $14.2 million. The 222,661-square-foot building is currently 100 percent leased and occupied by Ford Motor Company. The property is situated on 15 acres along the I-91 Corridor between Hartford, Conn., and Springfield, Mass. Additionally, the transaction included a vacant, seven-acre parcel adjacent to the property. This deal is the first for GTJ since its merger with the former Wu/Lighthouse Partners in January 2013.
HOUSTON — The Richland Companies has acquired Fairmont PH Business Park, a two-building, 66,654-square-foot industrial complex in Houston. Situated on nearly five acres at 11810 Fairmont Parkway and 13501 Bay Area Blvd., the property is directly parallel to the Port of Houston and located in proximity to I-45, the Sam Houston Tollway, State Highway 146 and State Highway 225. Built in 2008, the tilt-wall structures offer 28-foot ceiling clear heights, dock-high loading capabilities and ample parking. The complex was fully leased at the time of the sale to four tenants, Worley Parsons, Orr Safety, GSA and Coastal HVAC Supply. Fairmont PH Business Park is the 13th property in The Richland Companies’ Houston portfolio, which now totals approximately 1.6 million square feet.
DALLAS — Cassidy Turley has arranged a 59,580-square-foot industrial lease in Dallas for Fleetpride, a manufacturer of heavy-duty truck and trailer parts. The tenant will occupy space at 2007 Royal Lane, near the interchange of I-635 and U.S. Route 77. Frank McCafferty, Blake Anderson, Craig Wilson, Randy Cooper, Kris Knapstein and David Eseke of Cassidy Turley represented Fleetpride in the negotiations with the unnamed landlord.
ROMEOVILLE, ILL. — The Missner Group has completed a $35 million food processing facility in Romeoville for Peacock Engineering Co. The 532,560-square-foot project included the complete renovation of the existing warehouse; the addition of 20,000 square feet of office space; multiple processing areas and production lines; and temperature-controlled storage spaces. The renovated property is located at 1001 W. Crossroads Parkway within ProLogis Park 55. The facility will be used to repackage frozen goods, which requires portions of the building to be temperature controlled to specific degrees at all times. The property features 113,907 square feet of refrigeration and freezer space and a 90,814-square-foot production area. Sparks Architects Inc. provided architectural services for the project.
RARITAN, N.J. — Energy Battery Group, a national battery distributor, has signed a long-term lease for 72,937 square feet at 1200 Route 523 in Raritan. The space comprises 64,044 square feet of industrial space and 8,893 square feet of office space. With this lease, the 851,000-square-foot building is 90 percent occupied. Joe Nitti of Colliers International represented the landlord, Equity Industrial Flemington LLC, in the transaction. Jason Adams of Coldwell Banker Commercial Feist & Feist Realty Corp represented the tenant.
SALEM, N.H. — Foxx Life Sciences has leased space at 6 Delaware Drive Crossing, a 20,700-square-foot industrial/flex building in Salem. The company will occupy 18,302 square feet at the property, which will allow it to relocate and expand its headquarters and operations. Foxx Life Sciences previously occupied space at 8E Industrial Way Suite 1 in Salem. Chris Healy of CBRE/New England represented the tenant in the transaction.
PLANO, TEXAS — Auto manufacturer Toyota will relocate its North American headquarters to a new campus in Plano. The new facility is estimated to total 1 million to 1.5 million square feet in the Legacy business park near the interchange of the Dallas North Tollway and State Highway 121. Several Toyota facilities nationwide — including the Toyota Motor Sales USA Inc. operation in Torrance, Calif., and the Toyota Engineering & Manufacturing North America Inc. in Erlanger, Ky. — will be consolidated at the new complex. A total of approximately 4,000 employees will be relocated, including those at Torrance-based Toyota Financial Services and certain employees at Toyota Motor North America in New York City, by the time the new campus is completed in late 2016 or early 2017. An expansion of the York Township, Mich.-based Toyota Technical Center and opening of the new Toyota Motor Manufacturing Kentucky in Georgetown, Ky., are also part of the transition. Paul Whitman, Brad Selner, Meredith O’Connor and Michael Sessa of JLL represented Toyota in the McKinney transaction.
HOUSTON — First Industrial Realty Trust Inc. has broken ground on the new 350,820-square-foot First Northwest Commerce Center in Houston’s Northwest submarket. The distribution facility, to be located on a 24-acre site off Beltway 8 at 4800 W. Greens Road, will be designed for either single- or multi-tenant use. The building will feature 32-foot clear heights, 130-foot truck courts, excess trailer storage and ESFR sprinklers. Construction is slated for completion as early as the fourth quarter of this year. The development team includes development consultant Davis Commercial Development LLC, general contractor Cadence McShane and architect Munson Kennedy Partnership. Billy Gold and David Adame of CBRE will lease the property.