TORRANCE, CALIF. — Genexus International has leased 25,365 square feet of light industrial space in the master-planned Pacific Gateway Industrial Park in Torrance. The new facility is located at 1214 Jon Street. The company will be relocating from nearby Inglewood. The new 10-year lease was valued at $1.28 million. Genexus plans to use this new headquarter space for administration, design and distribution. The company was represented by Mark Berman of LesMark. The landlord, Airport Plaza, Inc., was represented by Courtney Bell and Matt Stringfellow in The Klabin Company/CORFAC’s Torrance office.
ALSIP, ILL. — Meridian Design Build has broken ground on a 171,670-square-foot build-to-suit facility for Polmax Transportation in Alsip. The 38-acre development site includes the demolition of an existing 37,000-square-foot building. When complete, the new warehouse building will include 68 dock positions and 20,000 square feet of office space that will serve as Polmax's corporate headquarters. A vehicle repair facility will also be constructed within the building. Joe Grimes and Bob Malachowski are coordinating the project for Meridian Design Build. arete-Knight is providing architectural services and Hoefferle-Butler is completing the civil engineering work.
OKLAHOMA CITY — Dallas-based Metropolitan Capital Advisors has secured a $17.6 million mortgage for the DSB Portfolio, a collection of 16 warehouse properties totaling 504,150 square feet located throughout the Oklahoma City MSA. The properties are collectively 95 percent occupied by tenants such as FedEx, Trane Air Conditioning, Cintas Corp. and the State of Oklahoma DHS. Todd McNeill and Sunny Sajnani arranged the CMBS loan with a 30-year amortization schedule on behalf of the borrowers: DSB Properties, Gardner Realty Properties and Santa Fe Development.
MIDDLEBURY, IND. — Chicago Lands LLC has purchased the former Pilgrim plant at 14489 U.S. 20 in Middlebury for $1.1 million. The 102,062-square-foot industrial facility is situated on 16 acres. The seller, HNHB LLC, had been leasing the building to Bullseye Industrial Sales. However, the company decided to lease space at another property in Middlebury. Chicago Lands plans to lease the building to a tenant in the metals business. Pete Letherman of FM Stone Commercial represented the seller in the transaction.
MORGANTOWN, PA. — Consolidated Graphics, a printing company, has purchased a 110,000-square-foot industrial property at 110 Thousand Oaks Blvd. in Morgantown. The property features 30,000 square feet of office space and 80,000 square feet of industrial space. The new owner plans to consolidate two of its existing facilities in eastern Pennsylvania into the new space. Timothy Brogan and Timothy Pennington of Grubb & Ellis represented The Hampshire Cos. in the transaction. Pete Pitroff of Jones Lang LaSalle represented the buyer.
BELLEVUE, OHIO — Stag Industrial has acquired a 181,838-square-foot warehouse and distribution facility in Bellevue for $5.8 million. The building is fully leased to Amcor Rigid Plastics, which has six years remaining on its lease. Amcor makes and delivers packaging for products such as beverages, food, pharmaceuticals and spirits. The transaction brings Stag's total acquisition volume to $119 million in 2012.
WESTBOROUGH, MASS. — Ameridose LLC has purchased 205 Flanders Road, a 76,126-square-foot manufacturing building in Westborough, for $4.5 million. DSN Realty Trust is the seller. Ameridose, which provides sterile admixing services to hospital pharmacies, is currently occupying the facility. Craig Johnston and John Eysenbach of R.W. Holmes Realty represented both parties in the transaction.
WACO — Monmouth Real Estate Investment Corp. has acquired a 102,594-square-foot industrial property, located at 685 Alliance Parkway in Waco, for $8.73 million. The property is net-leased for 10 years to FedEx Ground Package System. The facility was recently constructed by Jones Development Co.
HOUSTON — Johnson Capital has secured $8.4 million in permanent financing for a 250,176-square-foot warehouse/distribution building, located near the Northwest Freeway 290 in Houston. The property is currently fully leased to Office Depot. Kevin Burkhalter of Johnson Capital's Los Angeles office arranged the 15-year loan with a 25-year amortization schedule on behalf of the borrower, a Los Angeles-based private entity.
TEMPE, ARIZ. — Desert Vista Commerce Center, a 98,687-square-foot office and flex industrial building in Tempe, has received $5 million in first-mortgage refinancing. The building is located on South Hardy Drive. The 10-year, fixed-rate loan was arranged by Shari Stults of NorthMarq Capital’s Phoenix office through the firm’s relationship with a correspondent life insurance company.