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.
WEST ALLIS, WIS. — The Dickman Co. Inc./CORFAC International has completed the sale of a 50,845-square-foot industrial building in West Allis, about six miles west of Milwaukee. Samuel M. Dickman Jr. and Samuel D. Dickman of the Dickman Co. represented the seller, C.D.D.M. Enterprises LLC, in the transaction. Trent Poole of CBRE represented the buyer. The industrial property is located at 10930 W. Lapham St.
SCHAUMBURG, Ill. — Samwon Tech has purchased a 98,456-square-foot industrial property in Schaumburg, a Chicago suburb, for $5.2 million. Wiley Road Industrial Park LP sold the 11-unit property located at 1261 Wiley Road. Built in 1983, the property is fully leased to clients including Sherman Williams, Prism Healthcare and The Kaman Corp. Samwon Tech is an industrial metal fitting supplier and manufacturer whose parent company is based out of Korea. John Sharpe, a principal at Lee & Associates, represented Wiley Road Industrial Park in the transaction. Ronan Remandaban, also of Lee & Associates, represented Samwon Tech.
WAYNE, MICH. — Bernard Financial Group has arranged a $2.2 million loan for Rush Investments 1 & 2 Portfolio in Wayne, located about 20 miles west of Detroit. The portfolio includes an owner-occupied truck terminal and four multi-tenant office buildings. Rush Investments 1 LLC and Rush Investments 2 LLC are the borrowers. StanCorp Mortgage Investors LLC, a servicing correspondent of Bernard Financial Group, was the lender. Bernard Financial Servicing Group, a mortgage banking firm representing several life insurance companies and conduits in Michigan, will provide partial servicing for this loan. David Dismondy of Bernard Financial Group originated the loan.
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.
HENDERSON, NEV. — Valley Freeway Commerce Center, a 229,000-square-foot industrial center in the Las Vegas submarket of Henderson, has sold to Harsch Investment Propertiesfor an undisclosed sum. The four-building center is located at 7565, 7585, 7665 and 7685 Commercial Way. It is currently 58 percent leased. Harsch was represented by Mike Delew and Greg Pancirov of Colliers International. The seller was Iyar Realty ADA Compliant Limited Partnership.
CITY OF INDUSTRY, CALIF. – The Unical Industrial Building in the City of Industry has received $26.7 million in acquisition financing. The 472,876-square-foot building is located at 680 S. Lemon Ave. Financing was based on a 17-year term and a 17-year amortization schedule.It was arranged by Michael Elmore of NorthMarq Capital’s Los Angeles regional office on behalf of the new owner-user.
RANCHO CUCAMONGA, CALIF. – A 138,595-square-foot industrial property in Rancho Cucamonga has sold to CT Realty Investors for $9 million. The property is located at 10401 Seventh Street. The seller, Waitex International, will lease back the property. The rate and terms of that lease were not disclosed.CT’s newest acquisition is attached to a 177,550-square-foot building that was purchased by the firm last year. That property is located at 10404 Sixth Street and is fully leased to GiTi Tire USA Ltd.CT plans to redevelop both properties once Waitex’s lease expires. GiTi has agreed to a new long-term lease for both buildings that will commence once the renovations are completed.Jamie Harrison of Lee & Associates Investment Services Group in Los Angeles represented both the buyer and the seller in this transaction.
PEACHTREE CITY, GA. — Marcus & Millichap Capital Corp. (MMCC) has arranged $10.8 million in refinancing for a 301,704-square-foot industrial warehouse asset in Peachtree City. Tim Kinney of MMCC's Atlanta office arranged the 10-year loan with a 5.4 percent fixed interest rate and a 30-year amortization schedule through a CMBS lender.