SOMERSET, N.J. — JLL has arranged a $10.3 million construction loan for a 76,200-square-foot industrial project in the Northern New Jersey community of Somerset. The facility will be located on a 7.5-acre site at 485 Elizabeth Road and will be developed on a speculative basis. Building features will include a clear height of 40 feet, 10 dock doors, one drive-in door, 36 car parking spaces and 135-foot truck court depths. Jon Mikula, Jim Cadranell and John Cumming of JLL placed the loan with Wintrust Bank on behalf of the developer, Bridge Logistics Properties.
SAN JOSE, CAMPBELL, RANCHO CORDOVA AND CAMARILLO, CALIF. — Gantry has secured a $70 million structured permanent loan to retire existing construction/bridge debt and recapitalize four recently completed developments/value-add self-storage facilities in Southern and Northern California. The four properties, which are currently undergoing initial lease-ups, include Trojan Storage San Jose, Trojan Storage Campbell, Trojan Storage Rancho Cordova and Trojan Storage Camarillo. Andy Bratt, Amit Tyagi and Sean Kuang of Gantry represented the borrower, Trojan Storage. The loan, which was secured through one of Gantry’s life company relationships, features a fixed rate with a lengthy interest-only period during the term.
PHILADELPHIA — Martin Brower has signed a 147,000-square-foot industrial lease in northeast Philadelphia. The provider of supply chain and logistics solutions is taking space at Crow Holdings at I-95, a project that is under construction on a 14.4-acre site at 14515 McNulty Road. Jonathan Springer, Andrew Green and Mike Barker of CBRE represented the tenant in the lease negotiations. Brad Boone and Brian McCurdy of Colliers represented Crow Holdings Development.
SURPRISE, ARIZ. — Rockefeller Group has completed the construction of Surprise Pointe Commerce Center, a distribution center on 24 acres in Surprise. The 418,400-square-foot property can accommodate one to four tenants and offers a clear height of 36 feet, 80 dock doors, a 190-foot truck yard, 103 truck trailer parking stalls, 466 auto-parking stalls and custom-designed office space. The project team included Ware Malcomb, Layton Construction and Hunter Engineering. Cooper Fratt and John Werstler of CBRE are marketing the project for lease or sale.
GILBERT, ARIZ. — An affiliate of Cohen Asset Management has purchased a freestanding industrial manufacturing building in Gilbert from Southern California-based De Pietro Holdings for $8.7 million. Rigid Industries LED Lighting, a LED lighting company, occupies the 48,823-square-foot building, which is located at 779 N. Colorado St. The building was originally developed in 2004. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield’s Private Capital Group in Phoenix represented the buyer and seller in the deal. The seller had owned the property since 2015 prior to the sale.
CINCINNATI — Impact Beverage has unveiled plans to add 10,000 square feet to its production facility in Cincinnati. The expansion includes substantial investment in new machinery and equipment, creating 65 new jobs and adding $4.6 million in annual payroll to its existing workforce of 60 employees. Impact Beverage handles each step of the beverage manufacturing process in its facilities, creating a variety of ready-to-drink cocktails and nonalcoholic beverages with carbonated or still packaging options. The capital investment will support the installation of a new pasteurization line, enhancements to canning capabilities, increased automation and further development of innovative packaging solutions. The City of Cincinnati is working closely with Impact Beverage on a local incentive package. In addition, the State of Ohio approved a Job Creation Tax Credit. JobsOhio plans to offer assistance, which will be made public after a final agreement is executed.
FORT WORTH, TEXAS — Bradford Commercial Real Estate Services has arranged the sale of McMillan Center, a three-building, 137,083-square-foot industrial complex in North Fort Worth. The property formerly served as a Coors distribution center and comprises a 115,078-square-foot main building, 12,544-square-foot office building and a 9,362-square-foot maintenance facility. Shane Benner of Bradford represented the buyer, Ron Sturgeon Real Estate, which will relocate from Haltom City and occupy the property, in the off-market deal. Todd Hawpe of Transwestern represented the seller.
SAN MARCOS, TEXAS — Colliers has negotiated a 31,760-square-foot industrial lease in San Marcos, located roughly midway between Austin and San Antonio. The tenant, Ohio-based supplier OTC Industrial Technologies, is taking space at Clovis Crossing, a newly constructed development that comprises two buildings totaling 213,125 square feet. Shane Woloshan, Nolan Babb, Travis Hicks, Chase Clancy and Michael Modesett of Colliers represented the tenant in the lease negotiations. Carter Thurmond, Nash Frisbie and Bailey Sousa of Transwestern represented the landlord, New Jersey-based Denholtz Properties.
STOCKTON, CALIF. — Trammell Crow Co., in a joint venture with Realty Income Corp., has broken ground on an industrial build-to-suit facility in Stockton for The Home Depot. Located at 320 McCloy Ave., the 655,200-square-foot property is slated for delivery in 2026. MacGregor Associates is the architect of record and Arch-Con Corp. is serving as the general contractor. Tyson Vallenari of Cushman & Wakefield and Tom Davis of CBRE represented the Port of Stockton and Trammell Crow Co., respectively, in the ground lease.
PUYALLUP, WASH. — PCBP Properties Inc. has acquired an industrial property located at 403 N. Levee Road in Pullayup for $12.5 million. Brett Hartzell, Paige Morgan and Andrew Stark of CBRE National Partners West represented the undisclosed seller in the deal. The 80,150-square-foot last-mile manufacturing and logistics facility is located 15 minutes from the Port of Tacoma, Washington, and 35 minutes from downtown Seattle. The property has undergone recent renovations, including roof repairs, exterior painting, asphalt, landscaping and updates to the office space with new carpet and paint. The property is fully insulated and features 21 trailer stalls, eight dock-high and three grade-level doors.