JERSEY CITY, N.J. — NAI James E. Hanson has brokered the sale of 106 Harbor Drive, a single-tenant warehouse facility in Jersey City. CenterPoint Harbor LLC acquired the 54,000-square-foot property for $4.6 million. Additionally, the new owners executed a 10-year lease for the property with Iron Mountain Information Management. Tom Ryan and Barry Cohorsky of NAI James E. Hanson represented the seller, a family investor, in the sale. Ryan and Cohorsky also represented the new owner in the lease transaction.
Industrial
PLANO, TEXAS — Lee & Associates has arranged an 18,094-square-foot industrial lease in Plano for Circuit Design Specialties, a manufacturer of circuit board products. The tenant will occupy space within a facility located at 3301 E. Plano Parkway, which features 24-foot clear heights, seven exterior loading docks and one drive-in door. George Tanghongs and Brett Lewis of Lee & Associates represented the landlord, First Guardian Group, in the negotiations. Swearingen Realty Group represented Circuit Design Specialties.
LOUISVILLE, KY. — Dermody Properties has commenced construction on LogistiCenter Louisville, a 315,147-square-foot distribution facility in the Renaissance South Business Park near Louisville International Airport. The property will feature 32-foot clear heights, 60 dock doors, four drive-in doors, parking for 336 cars and 73 trailer stalls. Dermody Properties will develop the project in partnership with PCCP LLC. Construction is expected to wrap up in September.
FOREST PARK AND CARTERSVILLE, GA. — Lee & Associates has brokered the sale of two industrial properties in Georgia for a combined purchase price of approximately $7.3 million. The two projects included 13-16 Overmeyer Way in Forest Park, a 242,000-square-foot, four-building industrial complex; and a 55,000-square-foot flex property at 774 GA Highway 320 in Cartersville. Rick Tumlin of Lee & Associates, along with Tom Ellis of Atlanta South Commercial Properties, represented the seller, Charlotte, N.C.-based Columbus Nova, in the Forest Park transaction. Mike Sutter of Lee & Associates represented the buyer, Sealy & Co., which has retained Sutter and Tumlin to market the property. Tumlin and Sutter also represented the buyer of the Cartersville facility, Road Tested Parts. Tom Sims of Ackerman & Co. represented the seller.
BOLINGBROOK, ILL. — NAI Hiffman has arranged a industrial lease renewal and expansion for Walgreens in the Chicago suburb of Bolingbrook that will bring the tenant’s total space to 258,560 square feet. The facility is located at 370 Crossroads Parkway, in proximity to I-55 and I-355. Dan Leahy and Adam Roth of NAI Hiffman represented the property owner and landlord, Duke Realty, in the negotiations. Kris Bjorson of JLL represented Walgreens.
TROY, MICH. — Colliers International has arranged a 22,500-square-foot flex space lease in Troy, Mich. for ABM Building Solutions LLC, a provider of building maintenance and facilities services. The tenant will occupy space at 1775B Crooks Road, in proximity to I-75. Peter Kepic and Ryan Brittain of Colliers International represented the tenant in the negotiations.
SOUTH BRUNSWICK, EDISON, SECAUCUS AND TOTOWA, N.J. — G.S. Wilcox & Co. has arranged financing totaling $44.8 million across multiple transactions in New Jersey. Thrivent Financial for Lutherans funded two loans totaling $16.3 million for two industrial properties in South Brunswick. The company provided a $6.4 million loan for a 193,000-square-foot property and a $9.9 million loan for a 256,000-square-foot property. The loans carry an eight-year, fixed-rate term and a 20-year amortization. Additionally, Thrivent provided $9.4 million in refinancing for a 134,000-square-foot industrial building in Edison. The 10-year loan has a fixed-rate and a 20-year amortization. Great West Financial provided a $10.5 million, seven-year fixed-rate loan for a 170,000-square-foot warehouse in Secaucus and a $6.7 million, 10-year fixed-rate loan for a 177,000-square-foot warehouse in South Brunswick. In addition, Advantus funded a $2 million, 15-year fixed-rate loan for an 86,000-square-foot mixed-use retail/industrial property in Totowa. Gretchen Wilcox and Al Raymond of G.S. Wilcox & Co. arranged the financing for the undisclosed borrowers.
SOUTH BRUNSWICK, N.J. — Colliers International has brokered the of lease of 209,106 square feet of distribution and office space at 329 Herrod Blvd. in South Brunswick. Piramal Glass USA will relocate to the property from its current warehouse facility in May’s Landing, N.J. The property features 28-foot ceiling heights, T-5 lighting, 26 tailgate doors and a fully fenced truck court with abundant trailer parking. Jim Scott, Marc Isdaner and John Kainer of Colliers International represented Piramal Glass in the transaction. The landlord is Liberty Property Trust.
EDISON, N.J. — Performance Team Freight Systems Inc. has renewed its lease at 145 Talmadge Road in Edison. The company will continue to occupy 193,000 square feet of the 656,255-square-foot warehouse and distribution facility. Situated on 50 acres, the property features refrigerated storage space, shelving and an ESFR sprinkler system. Scott Belfer, Nick Nitti, Mindy Lissner and Bill Waxman of CBRE Group represented the landlord, NJIND Talmadge Road LLC, in the transaction. Terms of the lease were not disclosed.
GARLAND, TEXAS — Lee & Associates has arranged a 35,405-square-foot industrial lease in the Dallas/Fort Worth suburb of Garland for Digitek Computer Products, a distributor of technology products. The tenant will occupy space at 3901 W. Miller Road, in proximity to I-635. Nathan Denton of Lee & Associates represented Digitek in the negotiations. Stephen Cooper of NAI Robert Lynn represented the landlord, First Industrial Realty Trust.