CHARLOTTE, N.C. — Trinity Partners has arranged the $11.1 million sale of the 200,000-square-foot Arrowridge Business Park in southwest Charlotte. The property features four flex buildings located at 8107, 8227, 8301 and 8041 Arrowridge Blvd. The property is currently 83 percent leased to tenants such as Hobart Corp., Bonsal American, Sears Home Improvement, CentiMark Corp. and Miller Electric Co. Dunn Mileham of Trinity Partners represented the seller, a Florida-based investor group, in the transaction. The buyer is Virginia-based Medalist Properties.
Industrial
COPPELL, TEXAS — ML Realty Partners LLC has purchased Park West Crossing, a 98-acre parcel in the Dallas suburb of Coppell, and plans to build a 307,500-square-foot industrial complex on the site. The four-building development will include structures suitable for single- or multi-tenant use, ranging in size from 40,600 square feet to 142,500 square feet. The tract is located just north of DFW International Airport and is bordered by Freeport Parkway to the west, Southwestern Boulevard to the north and South Belt Line Road to the east.
HOUSTON — Henry S. Miller Brokerage has arranged the sale of a 21,400-square-foot industrial building in Houston. Located on three acres at 7409 Wright Road, the facility is in proximity to Highway 290 and Beltway 8. Doug Bates and Joel Hill of Henry S. Miller represented the seller, Rich Damon Henry Trust, in the transaction. Joe MacDougall of MacDougall and Co. represented the buyer, H6 Texas LP, which is headquartered nearby and purchased the asset to expand operations in the area.
FOSTER CITY, CALIF. – A 33,228-square-foot R&D building in Foster City has sold to Gray Peak Fork, LLC Series for $6.5 million. The building is located at 333-353 Hatch Drive near Silicon Valley. It is about 60 percent leased to the California Teachers Association. Sam Wright and Marc Pope of Cassidy Turley represented both the buyer and the seller, Echevarria Revocable Family Trust, in this transaction. Bill Sawyer also represented the seller.
ESCONDIDO, CALIF. — SR Commercial has acquired a 40,154-square-foot industrial park in Escondido for $3.1 million. The park is located at 2120 and 2122 W. Mission Road. It is currently branded as the Nordahl Center, but will soon be renamed Gateway @ Mission. It is 66 percent occupied by 11 industrial tenants. SR Commercial and the seller, a private investor, were both represented by Bryce Aberg and Brant Aberg of Cassidy Turley, and Mike Erwin and Tucker Hohenstein of Colliers.
FOUNTAIN INN, S.C. — Special-purpose entity TDI-Southchase has acquired a 40-acre site in the Southchase Business Park in Fountain Inn, about 20 miles southeast of Greenville. The buyer is planning a 250,000-square-foot industrial light manufacturing or distribution facility at the site. NAI Earle Furman is leading the development, marketing and management services for the project. Atlanta-based TPA Group, whose principals lead TDI-Southchase, is providing investment and capital services. TDI-Southchase plans to either sell the facility or lease it to one, two or three tenants upon completion. The project team includes Atlanta-based architect Wakefield Beasley & Associates and Greenville-based civil engineer Bluewater Civil Design. The facility will break ground this spring and wrap up construction in the first quarter of 2015.
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.
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.