LOS ANGELES — Sender One Climbing has signed a 16-year lease for a 30,000-square-foot industrial building in Los Angeles. The lease is valued at $5.3 million. The building is located at 11220 Hindry Ave. The indoor rock climbing wall provider will use this space for its second Southern California location. The first opened in Santa Ana last June. Sender One was represented by Greg Pieratt of Lee & Associates.
Industrial
NORWALK, CALIF. – A 34,500-square-foot industrial building in Norwalk has sold to Foam Express Inc. for $2.7 million. The building is located at 14016 Gracebee Street. It most recently housed a hockey equipment distribution firm. The foam molding manufacturer was represented by Jason Vargas of Daum Commercial. The seller, the Madjzoub Family Trust, was represented by Chuck Wilson of Colliers.
WINSTON-SALEM, N.C. — Chambers Street Properties has signed a five-year, 316,000-square-foot lease with a new, unnamed tenant at its Union Cross Building II in Winston-Salem. The property is located on U.S. Highway 311, in close proximity to I-40, I-85, I-77 and I-81. Chambers Street, an industrial and office REIT, purchased Union Cross Building II in 2007.
DOWNERS GROVE, ILL. — KeyBank Real Estate Capital has provided a $4.8 million CMBS refinancing loan for a research facility in Downers Grove, a western suburb of Chicago. John Hofmann of KeyBank worked with the borrower HSA Commercial Real Estate to arrange the non-recourse, fixed-rate loan. Silgan Downers Grove is a single-tenant, 42,000-square-foot facility. The tenant has occupied the property since 1980.
WAUKESHA, WIS. — The Dickman Company Inc. has arranged the lease of 20,000 square feet of industrial space in Waukesha, a suburb of Milwaukee. American Freight of Wisconsin Inc. will occupy space at 1725 Dolphin Drive. Dolphin Drive Investors LLC was the landlord in the transaction. Samuel M. Dickman Jr., Samuel D. Dickman and Anthony Huenerbein of The Dickman Co. negotiated the lease.
PONTIAC, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of 11,941 square feet of industrial space in Pontiac approximately 30 miles north of Detroit. The property is located at 490 South Opdyke Road. Margaret Joyce Hetherington Revocable Living Trust sold the space to Vaughn & Vaughn Investments LLC for an undisclosed sales price. Larry Schultz of Friedman represented the buyer in the transaction.
ARLINGTON, TEXAS — Cassidy Turley has arranged a 63,612-square-foot industrial lease in Arlington for Hickory Springs, a manufacturer of foam, metal, wire, fiber and other materials for the bedding, transportation, healthcare and packaging industries. The tenant will occupy space at 605 109th St., in proximity to the interchange of I-30 and State Highway 360. Frank McCafferty, Blake Anderson and David Eseke of Cassidy Turley represented Hickory Springs in the negotiations.
DALLAS — Billingsley Co. has leased 50,068 square feet of industrial space at its Mercer Business Park in Dallas to Paragon Distributing Co., a wholesale distributor of indoor and outdoor appliances. The tenant will occupy space in the northwest corner of the park’s 340,000-square-foot distribution center. Craig Phelps and Michael Haggar of JLL represented Paragon, which will occupy the space beginning in the first quarter of 2015. Billingsley Co. is developing the 225-acre Mercer Business Park at the northwest corner of I-635 and I-35.
LOS ANGELES — The Magellan Group has acquired a 26.8-acre site in El Monte for $20.5 million. The site is located at 4127-4213 Temple City Blvd. The company plans to develop a five-building industrial campus totaling 500,000 square feet. It is scheduled for completion in the third quarter of next year. The $55-million campus will be developed in a joint venture with Principal Real Estate Investors. Magellan also recently acquired industrial and storage properties in nearby Duarte, Riverside and Baldwin Park. The seller was a joint venture between Penwood Real Estate Investment Management and Wohl Property Group. John Minervini, Erik Larson, Robin Dodson and Chris Tolles of Cushman & Wakefield represented both parties in this transaction.
SAN BERNARDINO, CALIF. — Alere Property Group has acquired a 592,710-square-foot logistics facility in San Bernardino for $34.4 million. The newly constructed facility is located at 701 S. Arrowhead Ave. It sits adjacent to Interstate 215. The facility is situated along the same corridor as Amazon’s new distribution center. The corridor is also home to other e-commerce and major national retailers. Notable neighbors include Hewlett-Packard, Home Depot, Kohls, Mattel, Pepsi, Smuckers, Becton Dickinson, FedEx, Kohler, Michelin, Pactiv Corporation, Pep Boys, Spectrum Brands, Stater Brothers and Unilever. This area is known for its easy access to Interstate 15, as well as the Pomona (60), Riverside (91) and San Bernardino (10) freeways. It also enjoys direct access to the ports of Los Angeles and Long Beach, and to Ontario International Airport. Alere was represented by Kevin McKenna of Colliers International. McKenna will also serve as the property’s exclusive leasing broker, along with CBRE’s Walt Arrington and Jeff Linden.