YORK, PA. — Endurance Real Estate Group LL has acquired 325 S. Salem Church Road, a 624,800-square-foot, Class A warehouse in York. Endurance acquired the asset through a joint venture with a commingled fund managed by American Realty Advisors. Located in Central Pennsylvania, the property has served as the Northeast distribution center for the seller, American Signature Furniture, since it was constructed in 2007. David Binswanger and Michael Treacy of Binswanger represented the seller in the transaction.
Industrial
HOUSTON — Coldwell Banker Commercial United Realtors (CBCUR) has brokered the sale of a 21,000-square-foot industrial building in Houston. Constructed in 2007, the warehouse features 21-foot clear heights and a fenced yard. Located at 6440 Eastwood St., the property is in proximity to the interchange of I-610 and State Highway 288. Robert Bain of CBCUR represented the unnamed seller in the transaction. Ram-Gil LLC purchased the asset.
DES PLAINES, ILL. — Gramercy Property Trust Inc. has purchased an approximately 115,500-square-foot industrial facility in Des Plaines for $6.3 million. The building is fully leased through October 2025 to an automotive parts manufacturing company. Year one net operating income is approximately $479,000 with annual rent escalations throughout the lease term. The purchase includes the assumption of an approximately $2.7 million first mortgage loan with a fixed interest rate of 5.25 percent.
WYLIE, TEXAS — Henry S. Miller Brokerage has arranged the acquisition of a 17,220-square-foot industrial building in the Dallas suburb of Wylie. The buyer, event and party planning company Jumper Bee Entertainment, will use the facility as its new corporate headquarters. The property is located at 11 Regency Drive, in close proximity to I-78 and FM 544. The occupant is relocating from a 3,000-square-foot site in Plano. Scott Axelrod of Henry S. Miller represented Jumper Bee in the transaction.
LOS ANGELES – A six-building industrial complex in Los Angeles has sold to Rexford Industrial Realty for $6.6 million. The 88,330-square-foot complex is located at 1500-1510 W. 228th Street. It is currently 98 percent occupied. The acquisition was partially funded with proceeds from the sale of Kaiser, a 124,640-square-foot industrial property in San Diego. That property was sold in a tax-deferred 1031 exchange. The remainder of the funding was provided through Rexford’s line of credit.
CHICAGO — Method has selected Summit Design + Build as the general contractor for its first U.S. manufacturing facility on a 22-acre site located at 720 E. 111th St. in downtown Chicago. The new 150,000-square-foot manufacturing facility is slated to be the nation’s first LEED Platinum certified manufacturing plant in the consumer packaged goods industry. Founded in 2000, Method is a manufacturer of plant-friendly and design-driven home, fabric and personal care products. The facility will feature 84,000 square feet of manufacturing space, 66,000 square feet of distribution space and 7,083 square feet of office. Heitman Architects is providing architectural services for the project. William McDonough + Partners is the project designer. Norris Design is the landscape architect. Spaceco Inc. is the civil engineer, and KJWW Engineering Consultants is the MEP (mechanical, electrical and plumbing) engineer for the project.
YORK, PA. — ASI-York LLC, an affiliate company of Schottenstein Property Group LLC, has sold a 624,800-square-foot distribution building situated on 49 acres in York for $26 million. The property is located at 325 South Salem Church Road, 25 miles southeast of Harrisburg, Pa. Endurance Real Estate Group purchased the single-story distribution center, which includes 12,000 square feet of office space, dock-high doors and parking for 50 cars and 280 truck trailers. Michael Treacy of Binswanger’s Philadelphia office represented ASI-York in the transaction.
TORRANCE, CALIF. – A 28,500-square-foot industrial complex in Torrance has sold to Darren C. Moore Trust for $3.8 million. The two-building property is located at 23875 Madison Street near the Torrance Airport. The seller, The Conrow Family Trust, was represented by Warren Noack, Kimberly Noack and Travis Noack of NAI Capital’s South Bay office.
COLUMBIA, S.C. — NAI Avant has arranged the foreclosure sale of the former Colonial Warehouse, a 265,000-square-foot warehouse at 1115 Shop Road in Columbia. An unnamed family based in Charleston, S.C., purchased the warehouse from the Richland County SC Master in Equity. Dail Longaker Jr. of NAI Avant brokered the transaction and will oversee the leasing/disposition of the asset.
LIVONIA, MICH. — First Industrial Realty Trust has sold 32432 Capitol Street, a 203,100-square-foot industrial warehouse and distribution facility in Livonia, located about 20 miles west of Detroit. The Promanas Group, a commercial real estate investment and management company, purchased the property. James Carpenter and Michael Tenteris of Cushman & Wakefield represented the seller in the transaction. Classic Container Corp., a subsidiary of Pratt Industries, fully occupies the property.