TAMPA, FLA. — Industrial Property Group has arranged the $5 million sale of 41 Industrial Center, three office/warehouse buildings totaling 196,636 square feet at 5100 Causeway Blvd. in Tampa. Jeff Lamm and Tom Gibbs of Industrial Property Group represented the seller, 41 Industrial Center LP, in the transaction.
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ROANOKE, VA. — Cronheim Mortgage has arranged $6.6 million in acquisition financing for a new 103,402-square-foot distribution facility, located in the Roanoke Centre for Industry & Technology (RCIT) in Roanoke. The RCIT is a business park that houses tenants such as Orvis Inc., Elizabeth Arden, BellSouth and Advance Stores Co. Dev Morris and Andrew Stewart of Cronheim arranged the 13-year loan through Aviva Life and Annuity Co. at a fixed 3.8 percent interest rate. Morris and Stewart arranged the loan on behalf of the borrower, Monmouth Real Estate Investment Corp.
CHICAGO — Chicago Industrial Real Estate (CIRE) has brokered the sale of a 150,000-square-foot warehouse to Whipple Street LLC. The property, formerly occupied by Westex Inc., is located at 2845 W 48th Place. Whipple Street plans on converting the space from its current single-tenant layout to multi-tenant use. Matt Rogatz of CIRE represented the buyer in the transaction, while Dan Leahy and Chris Gary of NAI Hiffman represented the seller.
CLIFTON, N.J. — Cushman & Wakefield has arranged an 11,000-square-foot lease for manufacturing space at 125 Kingsland Ave. in Clifton, N.J. Bonni Heller of Cushman & Wakefield's East Rutherford office represented the tenant, glass manufacturer Pilkington North America Inc., in the long-term lease. The new location is one of nearly 100 Pilkington automotive glass replacement facilities in the U.S. Andrew Somple of NAI James E. Hanson represented the landlord, 1913 Realty Associates.
LOGAN TOWNSHIP, N.J. — Marcus & Millichap has arranged the sale of a new 70,000-square-foot refrigerated food storage and distribution building, located within the LogistiCenter business park at 1155 Commence Blvd. in Logan Township, 12 miles south of Philadelphia. The facility is triple-net leased to Albert's Organics/United Natural Food Inc. John Glass and Scott Pertel of Marcus & Millichap's San Francisco office represented the seller in the transaction. The buyer was a New York-based publicly traded REIT. Michael Fasano of Marcus & Millichap also provided representation in the transaction.
MORRISVILLE, N.C. — Cushman & Wakefield | Thalhimer has arranged the $9.2 million sale of the Research Triangle Industrial Center, a three-building industrial park totaling 153,629 square feet in Morrisville. The property is located at the intersection of Highway 54 and Airport Boulevard in the heart of Raleigh-Durham's top industrial submarket. Peter Lawrence Co. purchased the 93 percent leased property. Chris Norvell and Scot Humphrey of Cushman & Wakefield | Thalhimer's capital markets group represented the seller, Cambridge Hanover.
GERMANTOWN, MD. — NorthMarq Capital has arranged $3.3 million in first mortgage refinancing for Churchill Business Center, a 39,917-square-foot industrial facility located at 13210-13220 Wisteria Drive in Germantown. The property is fully leased to tenants such as Selvadurai Palanivelu, Autobody Connection and Sherwin Williams. Matthew Kohlhoss of NorthMarq's Washington, D.C., office arranged the 25-year loan with a 20-year amortization schedule.
DALLAS — HFF has arranged the sale of a two-property, 754,554-square-foot, Class A industrial portfolio in the Dallas-Fort Worth Metroplex. Included are Northlake Industrial Center, located three miles north of the Alliance Texas mixed-use development on Interstate 35, and Towne Lake Business Park Two, immediately south of Dallas/Fort Worth International Airport. Randy Baird, Jud Clements and Robby Rieke of HFF represented the seller, Panattoni Development. Private real estate investment firm Cabot Properties purchased the portfolio, which was 100 percent leased at the time of sale.
FORNEY, TEXAS — The firm of Henry S. Miller has brokered the sale of a 25,000-square-foot industrial property in Forney, located 20 miles east of Dallas. Henry S. Miller’s Jerry Averyt and Greg Trout represented the seller, First State Bank of Mesquite. The facility, situated on 1.25 acres, will be the new home of Willard Heat and AC, which is relocating from their current smaller facility in Forney. Stephen Cooper of NAI Robert Lynn represented Willard.
SAN DIEGO – Kiernan Companies has purchased 10.1 acres of industrial land in San Diego for $3.6 million. The land is located at 10138 Airway Road in the Otay Mesa submarket. It resides within the Airway Business Center. Kiernan was represented by Brian Rolens and Michael Bauer of Fischer & Company. The seller, MS Development Company LLC, was represented by CBRE’s Rob Hixson, Rich Kwasny and Alexandra Allsup.