FRANKLIN, VA. — Severn Peanut Co. has purchased a 154,982-square-foot industrial facility in Franklin for $2.4 million. The facility is located on a 40-acre site at 32126 General Thomas Highway. The buyer will use the former paper converting facility as an additional peanut processing facility. Robert Thornton of Cushman & Wakefield | Thalhimer represented the seller, International Paper Co., in the transaction.
WAYNESBORO, GA. — UC Funding has provided a $5.5 million acquisition bridge loan on a 475,000-square-foot industrial complex in Waynesboro, about 29 miles south of Augusta. The property is pre-leased to Stone & Webster Construction, a wholly owned subsidiary of Chicago Bridge & Iron. The property features five single-story warehouse buildings. The sponsor hopes to renovate the property and increase the occupancy, which is now at 20 percent, according to UC Funding.
BETHLEHEM, PA. — Kuehne + Nagel Inc. (K+N) has signed a long-term lease for 228,000 square feet at 4275 Fritch Drive in Bethlehem, about nine miles east of Allentown. Griffin Land constructed the warehouse in 2012. K+N is one of the world’s leading logistics companies with more than 63,000 employees located in more than 100 countries. The company will use the warehouse building to handle a third-party logistics requirement for a Fortune 100 global healthcare company. CBRE represented the landlord, a real estate subsidiary of Griffin Land, in the transaction. CBRE’s global supply chain team based in New Jersey represented K+N.
FLOWER MOUND, TEXAS — Cushman & Wakefield has arranged a 154,000-square-foot lease expansion at an industrial facility in the Dallas-Fort Worth suburb of Flower Mound for natural and organic food wholesaler-distributor Nature’s Best. The tenant now occupies the entirety of the 462,000-square-foot building, which opened in 2011 and is LEED Gold-certified. Mark Collins, Dean Collins, Kirk Collins, Jeff Chiate, Rick Ellison and Cheryl Ballentine of Cushman & Wakefield represented Nature’s Best in the negotiations, while Toby Rogers and Bates Arnot of Hillwood Properties represented the landlord, Clarion Partners.
DOUGLASVILLE, GA. — Industrial parts supplier McMaster-Carr has acquired 112 acres at Riverside at Sweetwater Creek, a 309-acre business park in Douglasville. The company, which currently operates buildings in northwest Atlanta, will consolidate its operations in a new 700,000-square-foot facility. The property will serve as an e-commerce fulfillment center for the products the company supplies to manufacturing plants and additional commercial facilities. McMaster-Carr has received city approval to expand the building to 1 million square feet. General contractor Holder Construction Co. will begin construction before the end of the month, with development expected to take 18 months. Marks Hawks and Scott McGregor with CBRE represented Riverside at Sweetwater Creek's owner, NMR&G LLC, in the land acquisition. Sim Doughtie of King Industrial Realty Inc. represented McMaster-Carr. The business park's development partners include Charles Brewer, Sam Hatcher and Ron Orr.
MOUND, MINN. — Cushman & Wakefield/NorthMarq (C&W/NorthMarq) has represented Shoreline Boulevard LLC in two lease transactions totaling 55,000 square feet in Mound. Rasco Industries Inc. will occupy 35,000 square feet of the industrial property. Rasco provides high quality, overhead screen doors for food processing plants, distribution warehouses, manufacturing plants and other facilities. The company is relocating from Loretto, Minn. Renpure, which provides safe and effective hair care products, is leasing 20,000 square feet, consolidating its multiple locations. The industrial property is located at 5300 Shoreline Blvd., about 25 miles west of Minneapolis. Brent Masica of C&W/NorthMarq represented Shoreline Boulevard LLC in the transactions.
LOUISVILLE, KY. — A joint venture between Brennan Investment Group and TriGate Capital has acquired Tradeport I, a 212,500-square-foot, Class A distribution facility. The property is located at 9001 Cane Run Road in Louisville's Riverport submarket. Kevin Grove of CBRE Louisville represented the seller, Principal Real Estate Investors, in the transaction. The acquisition is TriGate Capital's second investment with Brennan and its first acquisition in Louisville.
BRIDGEVIEW, ILL. — ML Realty Partners has signed Menasha Packaging to 166,683 square feet of industrial space at its facility in Bridgeview, a southern suburb of Chicago. The industrial property is located at 7770 W. 71st St., west of Harlem Avenue with easy access to I-55. The building includes 33-foot clear ceiling heights, exterior loading and abundant car and trailer parking. Steve Connolly, executive vice president, and Chris Gary, vice president of NAI Hiffman’s industrial services team, represented ML Realty Partners in the transaction. Patrick McCaffrey and Rob Wheeler with Cresa Partners represented Menasha. Menasha Packaging specializes in creating high-end graphic packaging and merchandising products for retail, food and pharmaceutical applications.
PALMDALE, CALIF. – The 626-unit National Storage Center in Palmdale has sold to an unnamed buyer for $5.7 million. The 78,630-square-foot, Class A facility is located at 3305 East Palmdale Blvd. The seller, a partnership, was represented by Christopher R. Secreto and Nicholas Walker of Marcus & Millichap.
OAK CREEK, WIS. AND AURORA, ILL. — Marcus & Millichap is marketing a $36.3 million two-property, single-tenant industrial portfolio. The properties are a $19 million, 279,828-square-foot Staples distribution facility located in Oak Creek, Wis., and a $17.3 million, 63,740-square-foot FedEx freight terminal located in Aurora, Ill. Nick Manganais, a vice president of investments in Marcus & Millichap’s Chicago O’Hare office, is representing the seller, an Illinois-based family partnership. The Staples distribution center is located in the southeastern Milwaukee metro area at 120 W. Opus Drive and features 259,828 square feet of warehouse space and 20,000 square feet of office space. The FedEx freight terminal is located at 3883 Butterfield Road in Aurora, the second-largest city in Illinois and part of Chicago’s Naperville/Aurora metropolitan trade area. The property features a 55,120-square-foot main building with 6,800 square feet of office space.