AURORA, COLO. — Majestic Realty Co. has announced plans to build a 500,000-square-foot speculative industrial warehouse and distribution building at the Majestic Commercenter in Aurora. The Class A industrial property will break ground in May and is scheduled for completion by the end of the year. Once complete, this will be the largest spec building to ever be constructed in the Denver area, according to Majestic.
SAUKVILLE, WIS. — Custom Color & Filling has purchased a 9,600-square-foot industrial building, located at 250 Progress Drive in Saukville, from Community Bank for $450,000. James Young of Cassidy Turley Barry represented Custom Color & Filling and Community Bank in the transaction. Custom Color & Filling manufactures exact match touch-up paint and plans to move in this spring.
NEW YORK CITY — Kalmon Dolgin Affiliates Inc. has arranged the sale of an 18, 000 square-foot property, located at 105 Apollo St. in Brooklyn, for $2.6 million. The one-story, 9,000 square foot industrial warehouse building also features 9,000 square feet of available land. HK Marble & Tile Corp. is relocating its operations from Queens to 105 Apollo St. Jeffrey Unger of Kalmon Dolgin Affiliates represented the seller, Wolkow-Braker Roofing Corp., in the deal.
AURORA, COLO. — Majestic Realty Co. has announced plans to build a 500,000-square-foot speculative industrial warehouse and distribution building at the Majestic Commercenter in Aurora. The Class A industrial property will break ground in May and is scheduled for completion by the end of the year. Once complete, this will be the largest spec building to ever be constructed in the Denver area, according to Majestic.
PORTLAND, ORE. – A trio of self-storage facilities throughout the Pacific Northwest has received $9.3 million in refinancing. They include South Medford Self Storage in Medford, Ore.; Iron Gate Storage in Beaverton, Ore.; and Iron Gate Mega Storage in Vancouver, Wash. The storage facilities contain a total of 160,000 square feet. Financing was secured by Peter Norrie of Cohen Financial’s Portland office. It was provided by a Midwestern life insurance company.
ASTON AND BENSALEM, PA. — Miller Investment Management and Hayden Real Estate Investments, partners in MIM-Hayden Real Estate Funds, have acquired five industrial properties, located along the Interstate 95 corridor in Aston and Bensalem, for $35 million. The acquired assets include 105 Commerce Drive, along with 20 and 30 McDonald Blvd. and an 18-acre development parcel, which are located in the I-95 Campus Industrial Park in Aston, about 25 miles southwest of Philadelphia. MIM-Hayden also acquired 3600 Progress Drive, located in the Expressway 95 Business Park in Bensalem, about 20 miles northwest of Philadelphia. The existing buildings total 961,347 square feet of industrial space.
PORTLAND, ORE. – A trio of self-storage facilities throughout the Pacific Northwest has received $9.3 million in refinancing. They include South Medford Self Storage in Medford, Ore.; Iron Gate Storage in Beaverton, Ore.; and Iron Gate Mega Storage in Vancouver, Wash. The storage facilities contain a total of 160,000 square feet. Financing was secured by Peter Norrie of Cohen Financial’s Portland office. It was provided by a Midwestern life insurance company.
MACOMB TWP., MICH. — Nylok Corp. has renewed its 42,360-square-foot industrial lease at 15260 Hallmark Court in Macomb Twp., a northern suburb of Detroit. Kris Pawlowski and Paul Saad of Signature Associates represented both the landlord, Wolf Industrial III LLC, and the tenant, Nylok Corp. Under the umbrella of Berkshire Hathaway, Nylok has registered more than 150 patents on a number of different fasteners. This is more than any other company in their field.They service the automotive, aerospace, military and agricultural industries around the globe.
NEW YORK CITY — Building 77, a 1 million-square-foot warehouse building at the Brooklyn Navy Yard, will undergo an $80 million renovation. The 16-story former ammunition depot will be transformed into a modern, sustainable hub for manufacturing and technology innovation. The reuse of the building will result in the creation of up to 1,500 new jobs at the Navy Yard during the next five years. Brooklyn Navy Yard Development Corp. will lease 240,000 square feet to Jack Basch, a Brooklyn-based developer and entrepreneur. Basch is the owner and CEO of Shiel Medical Laboratories. Shiel will occupy at least one floor, approximately 60,000 square feet. Basch will sub-lease the rest of the space to other high-tech industrial and medical-service companies. Construction is set to begin in spring 2013 and will last about 18 months.
NEW YORK CITY — A one story, 4,830-square-foot warehouse at 2460 Rowe St. in New York City has sold for $785,000. The building was constructed in 1969 and includes high ceilings and drive-in doors. Alan Shmaruk and Michael Sherman of Manhattes Group represented the seller and Ralph Tiseo of T and M Realty Group represented the buyer, which will operate a fuel business out of the warehouse.