SMYRNA, GA. — Minneapolis-based Meritex, a private real estate investment and management company, has acquired a 61,884-square-foot office and warehouse property at 5080 Highlands Pkwy. in Smyrna through a joint venture with a major institutional investor. The Class A industrial space is fully leased. Meritex is the managing partner and will manage the Highlands property on behalf of the joint venture. Resource Real Estate Partners LLC represented Meritex in the acquisition.
SOUTHAVEN, MISS. — S-L Distribution Co. Inc., the distribution arm of Snyder’s-Lance Inc., has signed a 26,757-square-foot lease at Airways Distribution Center in Southaven. The 205,650-square-foot industrial property is in the greater Memphis, Tenn. distribution market. Patrick Burke, Bobby Daush and Jim Mercer of CBRE represented S-L Distribution Co. and CBRE’s Tim Moore represented the landlord, IDI. Snyder’s-Lance Inc. is a manufacturer and marketer of snack foods.
LEHIGH VALLEY, PA. — Clarion Partners Property Trust has acquired an ownership interest in Lehigh Valley South, a 315,000-square-foot warehouse and distribution facility in Lehigh Valley, for $9.8 million. The property was constructed in 2008 and is fully leased to two tenants on a triple-net basis.
SHARON, MASS. — IDI Distributors, a nationwide supplier of fiberglass and sprayfoam, has leased 32,995 square feet of industrial space at 1245 Providence Highway in Sharon. The company will relocate its Massachusetts distribution operation to the new space. CBRE Group represented the tenant in the transaction. Cathy Minnerly and Ovar Osvold of NAI Hunneman represented the landlord, John D. Murphy Co., in the transaction.
DALLAS AND ARLINGTON — NorthMarq Capital has arranged $5.6 million in acquisition financing for a portfolio of four industrial buildings located in Dallas and Arlington. The portfolio spans 240,000 square feet. Phillip Bankhead of NorthMarq's Dallas office arranged the 20-year loan to amortize over 20 years through a life insurance company.
ALLEN — Twin Creeks Business Center, a three-building, 180,000-square-foot industrial property at 1307 N. Watters Road in Allen, is nearly fully occupied after adding a tenant. Associated American Industries Inc. has signed a 21,027-square-foot lease for flex space at Building 200, becoming the building's first tenant. Susan Singer and Michael Grant of Bradford Commercial Real Estate Services/CORFAC International represented the landlord, Twin Creeks Warehouse Ventures LP, in the lease transaction. Natalie Snyder, Sharon Morrison, Nora Hogan and Robert Deptula of Transwestern Dallas represented the tenant.
GARDEN GROVE, CALIF. – A 46,180-square-foot industrial building in Garden Grove has sold to Hager Pacific Propertiesfor more than $3 million. The property was located at 12300 Industry Street. Mike Bouma and Paul Caputo of VOIT Commercial represented both Hager Pacific and the seller, Farmers & Merchants Bank. The duo will also market the property.
COMPTON, CALIF. – FedEx has signed a seven-year lease extension for its nearly 158,000-square-foot warehouse/distribution building in Compton. The 62,250-square-foot space is located at 201 W. Manville Street. FedEx was represented by Jeff Kernochan of Fischer & Company. The landlord, 201 W. Manville LLC, was represented by Maury Gentile and Sean O’Donnell of Grubb & Ellis.
HOUSTON — Liberty Property Trust has selected Cadence McShane Construction Co. to build the 163,600-square-foot Liberty 10 at Central Green, a warehouse/distribution center located at 16330 Central Green Blvd. in Central Green Business Park in Houston. The property is LEED Core and Shell certified and will include 3,000 square feet of office space. Seeberger + Associates will provide architectural services for the assignment. The project is slated for a February 2013 completion.
GARDEN GROVE, CALIF. – A 46,180-square-foot industrial building in Garden Grove has sold to Hager Pacific Properties for more than $3 million. The property was located at 12300 Industry Street. Mike Bouma and Paul Caputo of VOIT Commercial represented both Hager Pacific and the seller, Farmers & Merchants Bank. The duo will also market the property.