DALLAS, HOUSTON AND SAN ANTONIO — CBRE Capital Markets has arranged a $52.2 million refinancing loan for a portfolio of nine industrial properties in Dallas, Houston, San Antonio and Atlanta. The assets comprise 20 multi-tenant buildings totaling nearly 2 million square feet, including 19 buildings and 1.5 million square feet in Texas. The Texas properties are located in the Northwest Dallas, South Stemmons (Dallas), Northwest Houston and North Central San Antonio submarkets. The portfolio was 90 percent leased to a total of 62 tenants at the time of the sale. The five-year, floating-rate loan includes interest-only payments for the entire term. CBRE arranged the loan through J.P. Morgan on behalf of a joint venture between Sealy & Co. and AEW Capital Management.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has arranged a 12,112-square-foot industrial lease in Milwaukee. Anthony Huenerbein and Nick Keys of The Dickman Co. represented the landlord, GCI #1 LLC, and the tenant, AccuTrans Inc., in the transaction. The industrial property is located at 6134 S. Howell Ave.
ST. LOUIS — TriStar Properties has begun development on the first speculative industrial building to be constructed in St. Louis since 2007, according to Cassidy Turley. The 540,000-square-foot, Class A facility at Gateway Commerce Center is slated for completion in summer 2014. The building, which is located at the intersection of Interstates 270 and 255, will provide expansion capabilities to more than 1 million square feet. Gateway Commerce Center features approximately 10 million square feet of industrial development and is home to tenants such as Unilever, Procter & Gamble Co., Ozburn-Hessey Logistics and Hershey. Ed Lampitt, senior vice president at Cassidy Turley, will lead leasing efforts for the spec facility.
ARLINGTON, TEXAS — Bradford Commercial has brokered the sale of a 36,006-square-foot flex property in the Great Southwest industrial district of Arlington. Constructed in 1965, the building is located at 925 111th St., in close proximity to Interstate 30. Features of the asset include 16-foot clear heights, heavy power, three dock-high doors and two dock doors with levelers. Joe Santaularia, Kevin Santaularia and Michael Spain of Bradford represented the seller, Tennessee-based Dominion Enterprises. Michael Stanzel of NAI Robert Lynn represented the buyer, locally based Duralite Natural Stone LLC, which will occupy the facility within two months.
SCHERTZ, TEXAS — Stream Realty Partners has arranged the renewal of a 160,000-square-foot industrial lease at Tri-County Distribution Center in the northeast San Antonio suburb of Schertz. The tenant, Hollingsworth Logistics Group, occupies space in Building One of the Class A complex, which is located at 5925 Tri-County Parkway. Features at the building include 28-foot clear heights, recent exterior upgrades and proximity to Interstate 35. Jason Schnittger of Stream represented the landlord, CLPF – Tri County 1 LP, while Charlie Hargis of Endura Advisory Group represented Hollingsworth.
LOCKPORT, ILL. — PressSense Pressure Sensitive Papers Inc. has leased 52,005 square feet of warehouse space at Heritage Crossing Corporate Center in Lockport, located about 38 miles southwest of Chicago. The industrial warehouse property at 14503 Gougar Road spans 121,800 square feet. Polly Ozack, president of Winner’s Edge Inc., represented PressSense in the transaction. Dan Leahy, Mark Moran, and John Whitehead of NAI Hiffman represented the landlord, ML Realty Partners LLC. PressSense Pressure Sensitive Papers is a distributor of specialty label paper and print media.
SPARTANBURG, S.C. — SunCap Property Group has selected Meridian Design Build’s national projects group to construct a 254,353-square-foot sorting and distribution center in Spartanburg. The new facility will include 98 loading docks, 166 interior van loading positions, 195 exterior trailer stalls and 10,953 square feet of office space. The project will also feature a vehicle maintenance facility, remote fueling island and a gateway security building. The design team includes architect McMillan Pazdan Smith Architecure and civil engineer Blackwood Associates Inc.
GRAND PRAIRIE, TEXAS — Developer Weeks Robinson Properties, general contractor The Conlan Company and architect Alliance Architects Inc. have completed the construction of new 880,000-square-foot distribution center for home accessory and furniture retailer Restoration Hardware in the Dallas suburb of Grand Prairie. The build-to-suit facility, located on 50 acres at the corner of Pioneer Parkway and State Highway 161, features 38-foot clear heights, painted tilt wall panels, 48,000 square feet of office space and an employee fitness center. An adjacent park area includes enhanced landscaping and walking trails. Pacheco Koch Consulting Engineers, Hunt & Joiner Consulting Structural Engineers and AOS Engineering provided civil engineering, structural design and MEP design services, respectively.
MARLBOROUGH, MASS. — IEP Technologies has signed a new lease for 32,400 square feet at 417 South St. in Marlborough, located about 30 miles west of Boston. IEP Technologies leased the space for the manufacturing and assembling operations of explosion protection components. Garrett Quinn of Parsons Commercial Group Inc. represented IEP Technologies in the transaction. CBRE represented the building’s owner, Calare Properties.
LOS ANGELES – Local developer Izek Shomof has acquired a 1.8-million-square-foot building in Los Angeles that previously served as a Sears mail-order distribution center for $29 million. The Art Deco building is located at the intersection of Olympic Boulevard and Soto Street in the Boyle Heights neighborhood. The property still contains a 185,000-square-foot Sears retail store on the ground floor, though the majority of space has been vacant since the early ‘90s. Sears closed its distribution component in 1992. The 23-acre site features a 48,000-square-foot warehouse and a 15,000-square-foot Sears Auto Store. The buyer plans to redevelop the building into a mix of creative office space and leasable residential units. It also intends to develop the retail space on the site’s outlying parcels. The building was completed in 1927 and is listed on the National Register of Historic Places. The seller was MJW Investments. The transaction was executed by Jeff Adkison, Brendan McArthur and Paul Sablock of Jones Lang LaSalle.