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.
LOGAN, N.J. — A partnership between Dermody Properties and Stonemont Financial Group are developing a 70,000-square-foot facility for lease to national organic food distributor Albert's Organics. Dermody is serving as the industrial developer and operating partner and Stonemont is serving as the financial partner. The facility, which will serve as a distribution center, will be located at LogistiCenter at Logan, located at 1155 Commerce Blvd. Construction is slated for completion in April 2013.
MANSFIELD — California-based Don Lee Farms has acquired a 140,000-square-foot food production and distribution facility in Mansfield. Don Lee Farms produces beef, pork, turkey, chicken, vegetarian and vegan food products, which are sold at Costco, Whole Foods, Sam's Club and Walmart.
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. Attalla and Richard Horn of NAI Capital’s Commerce office. The seller was Prologis.
ROMEOVILLE, ILL. — Liberty Property Trust has acquired a 723,291-square-foot industrial building at 1070 Windham Parkway in Romeoville. Home Depot, the current tenant, will occupy the building until its lease expires at the end of 2013. Jeff Devine and Steve Disse of Colliers International represented the seller, an institutional owner, in the transaction. The new owner plans to market the property through Colliers International in the coming weeks.
MEMPHIS, TENN. — Spartanburg, S.C.-based Johnson Development Associates Inc. (JDA), a developer of large-scale distribution and warehouse projects across the central and eastern United States, has selected Jones Lang LaSalle (JLL) to market Aerotropolis Logistics Park, a 113-acre site in Memphis that can accommodate two or more speculative or build-to-suit facilities of up to 1.2 million square feet. Russ Westlake and Jack Wohrman of Jones Lang LaSalle will lead the marketing efforts. Aerotropolis Logistics Park is within three miles of Memphis International Airport, the FedEx Express Global Super Hub, the United Parcel Service (UPS) Regional Sorting Hub and the United States Postal Service (USPS) Sorting Center.
INDIANAPOLIS — Gramercy Capital Corp. has acquired a two-property, 540,000-square-foot industrial portfolio in Indianapolis for $27.1 million. The portfolio is comprised of Class A buildings that are fully leased to three tenants with a 10.2-year weighted average lease term. According to Gordaon DuGan, CEO of Gramcery, the closing is the first in the company's new strategy to become a “premier net lease investor focused on office and industrial properties.”
RICHARDSON — NorthMarq Capital has secured $6 million in first mortgage refinancing for a four-property industrial portfolio totaling 186,376 square feet in Richardson. Ronald Reese of NorthMarq's Dallas office arranged the 10-year loan to amortize in 25 years. The loan was provided through a life company on behalf of the borrower, RMB Investments.