JACKSONVILLE, FLA. — Franklin Street, a full-service commercial real estate firm, has closed the sale of an 8,050-square-foot warehouse/office facility, located at 5760 Mining Terrace in Jacksonville. The property is located within the South Jacksonville Industrial Park. National Loan Corp. sold the property to Specialty T's, a company that specializes in silk screen printing, for $260,000, or $32.30 per square foot. Monte Merritt of Franklin Street's Jacksonville office represented the seller in the transaction.
GREENWOOD, IND. — New HB Acquisition LLC has sold the former Hostess Wonder Bread facility, a 19,125-square-foot building in Greenwood, about 15 miles south of Indianapolis. The freestanding building is located on two acres at 710 US 31 N. Creighton Shook and Luke Householder of Coldwell Banker Commercial Realty Services represented New HB Acquisition LLC in the transaction. Bill French of Cassidy Turley represented the buyer.
GASTONIA, N.C. — Chyrch Realty has arranged a 3,000-square-foot lease for Class A flex space at 1821 Wren Road, located within the Gaston Business Park in Gastonia, about 22 miles west of Charlotte The five-year lease features a five-year extension option. Jennifer Church of Chyrch Realty represented the owner, COW-III LLC, in the lease transaction. Marty McLaughlin of Piedmont Properties represented the tenant, Invacare Outcomes Management LLC, a subsidiary of Invacare Corp. The Elyria, Ohio-based Invacare Corp. is a medical products manufacturer and distributor.
KANSAS CITY, MO. — Jones Lang LaSalle (JLL) has entered into an agreement to acquire Capital Realty in Kansas City. Capital Realty specializes in leasing, property management and sales of industrial, office and retail properties and project management and development services. Kevin Wilkerson, president of Capital Realty, will join JLL as managing regional director along with 24 employees from Capital Realty who will add to JLL’s existing team of industrial, office and tenant representation brokers. Wilkerson will lead the industrial team and partner with managing regional director Larry Glaze, who leads the office tenant representation team, to drive growth in the Kansas City market. Jeffrey Kembel and Phillip Algrim, senior vice presidents at Capital Realty, will join JLL as senior vice presidents. Merging operations and adding Capital Realty’s local expertise will strengthen the platform of comprehensive services the global real estate firm provides in the market, according to JLL. Capital Realty currently manages approximately 90 properties totaling 5.4 million square feet across the Kansas City area for regional and local institutional owners.
GREENFIELD, IND. — The Indianapolis office of CBRE has arranged the sale of an 115,857-square-foot light industrial center in Greenfield, a western suburb of Indianapolis. California State Teachers’ Retirement System previously owned the facility, which is located at 315 W. New Road. The buyer, Bastian Development, a division of Bastian Solutions, plans to use the center for a sales and distribution operation to expand its Indianapolis area operations. Mark Writt, a broker in CBRE’s office industrial group, marketed the property and procured the buyer in the transaction.
WEST BRIDGEWATER, MASS. — EagleBridge Capital has arranged $3.8 million in long-term financing for a solar rooftop installation at One United Drive in West Bridgewater, about 30 miles south of Boston. Tenants at the 315,000-square-foot distribution building include Cheer Pack North America, which occupies 187,500 square feet and Federal Express, which occupies 88,500 square feet. Brian Sheehan and Ted Sidel of EagleBridge arranged the financing. A Massachusetts-based financial institution, acting on behalf of United LLC, provided the loan.
PLANO, TEXAS — Founders Properties has purchased the Eltek North American Headquarters building, a 124,042-square-foot Class A build-to-suit warehouse close to U.S. Highway 75 and President George Bush Turnpike in Plano. CBRE represented the seller, Argent Property Co., and worked on behalf of the buyer to secure a permanent loan through EverBank. The property, completed in December 2012, is 100 percent leased and located in Plano’s Research and Technology District.
ROANOKE, VA. — Poe & Cronk Real Estate Group has brokered the sale of a 640,000-square-foot industrial property located at 5022 Hollins Road in Roanoke for $14.5 million. The buyer, Ardagh Metal Packaging USA, plans to use the facility as its new East Coast manufacturing facility. The Poe & Cronk team of Dennis Cronk and Matt Huff represented the undisclosed seller in negotiations.
WEST PALM BEACH, FLA. — CB Richard Ellis (CBRE) has completed the $8 million sale of a small-bay, Class A warehouse located in West Palm Beach. The 73,563-square-foot building was constructed in 2008 on 6.9 acres at 342-346 Pike Road. It was 90 percent occupied at the time of the sale. The CBRE team of Scott O’Donnell, Dominic Montazemi, Jason Hochman and Miguel Alcivar represented the seller, Pishon Pike Road LLC. The buyer was Hollywood, Fla.-based Tigertail Lake Warehouse Ltd.
CROSSVILLE, TENN. — Eastern Union Funding has arranged $30.6 million in financing for a 670,000-square-foot distribution center located in Crossville. The loan, which was provided by Natixis, carries a 10-year term and a 30-year amortization schedule. The undisclosed borrower plans to use $22.8 million of the proceeds to refinance existing debt, and the remaining $7.8 million will be used to construct a 270,000-square-foot addition to the property. Marc Tropp and Sam Begun of Eastern Union’s Bethesda, Md., office arranged the loan.