HARRISONBURG, VA. — The I-81 Distribution Center, a 357,673-square-foot industrial property at 4500 Early Rd. in Harrisonburg, has traded for $16 million. Philadelphia-based BPG Properties sold the bulk distribution center to STAG Industrial, a publicly traded real estate investment trust. The building is fully leased to Ply Gem Holdings Inc. through February 2018.
HOUSTON — Marcus & Millichap has brokered the sale of a 14,520-square-foot industrial property, located at 1721 Oak Tree in Houston. Derek Hargrove of Marcus & Millichap's Houston office represented the buyer, Lynnthree Holdings, in the transaction. Gary Brown of Gary Brown & Associates represented the seller, a private investor.
MEDLEY, FLA. — HFF has secured a $9.3 million construction loan for a 185,520-square-foot spec industrial development on an 8.8-acre site in Medley. The site has direct rail access on site through the Florida East Coast Railway and is close to the Florida Turnpike, Okeechobee Road, the Palmetto Expressway and Route 27. Eric Tupler, Jim Dockerty and Josh Simpson of HFF placed a three-year construction loan with a national bank on behalf of Denver-based Industrial Income Trust.
MIAMI — A six-building industrial portfolio built between 1972 and 1984 has traded for $9 million. CBRE, on behalf of the seller Sarahs Canal Co. LLC, arranged the portfolio sale to Maksanium LLC, an entity controlled by Sunrise, Fla.-based Genet Property Group. The buildings are located in the Cutler Bay area of Miami just north of the South Dixie Highway and Florida Turnpike intersection. The portfolio has 138 units and is approximately 220,000 square feet total. Tenants comprise a mixture of small, entrepreneurial businesses.
BOLINGBROOK, ILL. — PBD Worldwide, a privately-held fulfillment company, has renewed its lease for 105,154 square feet of industrial space at 905 Carlow Drive in Bolingbrook. The space is part of a 256,070-square-foot facility, located a block north of the I-55 & Weber Road interchange. The Bolingbrook location represented one of five warehouses operated by PBD. Other locations include Atlanta, Philadelphia, Washington, D.C., and Hong Kong. Dan Leahy of NAI Hiffman, Sean Henrick and Jason West of Cushman & Wakefield and Chris White of Cassidy Turley represented the tenant in the transaction.
KANSAS CITY, MO. — Northrop Grumman Technical Services has leased 7,950 square feet of industrial space at 1284-1288 Eisenhower Road in Kansas City. David Hinchman, Mike Mitchelson, Brian Staton, Joe Orscheln and Nicki Garrett of CBRE Group represented the tenant in the transaction. Mather Enterprises is the landlord.
NEW KINGSTOWN, PA. — Woodmont Industrial Partners has acquired a 179,000-square-foot warehouse at 34 E. Main St. in New Kingstown from Lexmain Realty Ventures. Built in 1981, the rail-serviced property includes 20 loading docks, 10 rail doors, a 24-foot clear ceiling height and 40 parking spaces. Woodmont plans to invest $500,000 for renovations before returning the currently vacant building to the market in early 2013. Gerard Blinebury, Pat McBride and Adam Campbell of Cushman & Wakefield represented both parties in the transaction.
KENT, WASH. — Sweetener Products has purchased a 101,890-square-foot warehouse in Kent for $7.5 million. It is located at 8030 South 194th Street. The buyer currently leases 40,000 square feet at the warehouse. This acquisition will allow the company to expand. Sweetener was represented by Philip T. Attallaand Richard Horn of NAI Capital’s Commerce office. The seller was Prologis.
TROY, MICH. — GLS Holding Co. has acquired a 32,700-square-foot industrial property at 1712-1730 Thunderbird Drive in Tory. Kris Pawlowski and Paul Hoge of Signature Associates represented the seller, Irene Vachon Trust, in the transaction.
LYNDHURST, N.J. — Seagis Property Group has acquired two multi-tenant warehouses totaling 270,000 square feet in Lyndhurst. The buildings, located at 165 and 205 Chubb Ave. in the Meadowlands Corporate Center, are in close proximity to Route 3, Route 21 and Interstate 80. The buildings are 91 percent leased.