NEWTON, N.J. — NAI James E. Hanson has arranged the sale of a 109,751-square-foot industrial complex at 75 Mill Street in Newton, located about 45 miles east of Newark, for $1.4 million. The seller was Newton Industrial Park LLC. The buyer, Darlington Heritage Properties LLC, intends to hold the site for investment purposes. The two-story property includes 21 units with ceiling heights totaling 15 feet, five tailgates and one drive-in door. Sig Schorr and Joseph Vindigni of NAI Hanson represented both parties in the transaction.
GARLAND, TEXAS — Marcus & Millichap has arranged the sale of a 336,499-square-foot manufacturing and distribution facility for $10.7 million in Garland. The property is net-leased to Apex Tool Group and is located at 3000 W. Kingsley Road. John Glass of Marcus & Millichap's San Francisco office, along with James Bell of the firm's Houston office, represented the seller in the transaction. Glass and Scott Pertel, also of Marcus & Millichap's San Francisco office, represented the buyer. The facility is expected to be upgraded with a new roof this year.
GLENDALE, CALIF. – A 473,345-square-foot industrial complex in Glendale has sold to Rexford Industrial for $56.2 million. The institutional-quality complex is located at 3332-3424 North San Fernando Road and 3550 Tyburn Street. It contains seven buildings spread out among 21 acres. It is fully leased to tenants like Staples, Anderson Printing, Nordstrom and Pep Boys. In addition to the industrial component, the complex also contains two retail frontage buildings. Steve Silk, Jay Borzi and Adam Pastor of Eastdil Secured represented both the buyer and the seller, a non-disclosed institutional owner, in this transaction.
BAYONNE, N.J. — Hollister Construction Services has completed the renovation of a 150,000-square-foot industrial facility in Bayonne, located about 10 miles south of New York City. CenterPoint Properties, a developer, owner and manager of industrial real estate, owns the property. Jersey City, N.J.-based Star Snacks Co., a snack nut products manufacturer, will relocate its distribution facilities to the renovated warehouse, located at 30 Pulaski St. Cortland Morgan Architects were the architects.
AUSTIN, TEXAS — NorthMarq Capital has arranged a $15 million loan for the refinancing of Braker Center 6, 7 and 11, three flex office buildings located in Austin. The properties total 218,301 square feet and are located at 11100 and 1212 Metric Blvd. and 2205-2229 W. Braker Lane. Steve Bye, Dale Stewart and Dan Lucchesi of NorthMarq's Denver office arranged the loan on behalf of the borrower.
FLOWER MOUND, TEXAS — Exeter Property Group plans to build two new industrial buildings in Flower Mound's Lakeside Business District. The two buildings will total approximately 580,000 square feet. The development will bring an estimated 200 jobs to the area and add an estimated $18 million to Flower Mound's tax base. The property is located three miles north of Dallas Fort Worth International Airport.
GLENDALE, CALIF. – A 473,345-square-foot industrial complex in Glendale has sold to Rexford Industrial for $56.2 million. The institutional-quality complex is located at 3332-3424 North San Fernando Road and 3550 Tyburn Street. It contains seven buildings spread out among 21 acres. It is fully leased to tenants like Staples, Anderson Printing, Nordstrom and Pep Boys. In addition to the industrial component, the complex also contains two retail frontage buildings. Steve Silk, Jay Borzi and Adam Pastor of Eastdil Secured represented both the buyer and the seller, a non-disclosed institutional owner, in this transaction.
ATLANTA — Briggs Equipment, a provider of materials handling equipment, has acquired a 122,800-square-foot warehouse at 4695 Aviation Parkway in Atlanta for $5.9 million. The property is located within the International Airport Park, a master-planned industrial campus totaling nine buildings. Briggs will fully occupy the facility once the build-out is complete. The property features 24-foot clear ceiling heights, 31 dock-high doors and 215 parking spaces. Julian Brown and Brent Datson of Transwestern represented the seller in the transaction. James Wiant of Wiant Commercial Real Estate represented the buyer.
FEASTERVILLE, PA. — Coren-Indik Inc. has sold 915 Pennsylvania Blvd., a 50,000-square-foot industrial facility in Feasterville, located about 20 miles northeast of Philadelphia, for an undisclosed amount. The building, situated on 2.5 acres, was purchased by Oliver-Tolas Healthcare Packaging Inc. The new owner plans to renovate the building and use the facility to house its expanding operations. The location, near Street Road and U.S. Route 1, provides easy access for employees and trucks. Sidney Gable and Steven Gable of Sidney E. Gable Associates Inc. arranged the sale.
HOUSTON — Arch-Con Construction has begun construction on DCT Beltway Tanner Business Park in Houston. The 133,000-square-foot facility is located at 5980 W. Sam Houston Parkway. DCT Industrial Trust is developing the project and Long Beach, Calif.-based Carlile Coatsworth Architects is designing the property. The project is slated for a third quarter 2013 completion.