COLUMBUS — Hackman Capital has acquired a portfolio of 11 industrial properties totaling 2.5 million square feet. The portfolio is 88 percent occupied and is comprised of a mix of multi- and single-tenant industrial, flex and distribution properties. Ten of the properties are located in the Columbus area and the remaining property is located in Ruther Glen, Va. Binswanger represented the seller, Schottenstein Property Group, in the transaction.
EDISON, N.J. — CDS Inc., which warehouses and distributes furniture, has signed a lease for 29,167 square feet of industrial space at 95 Ethel Road in Edison. The single-story property encompasses 101,928 square feet and features a 22-foot clear ceiling height. Barry Cohorsky of NAI Hanson represented the tenant in the transaction. Steve Bartner of Embee Associates represented the landlord.
LAKE FOREST, CALIF. — A 71,656-square-foot industrial/research & development building in Lake Forest has received $6.2 million in permanent financing. The building was constructed in 1999 and is fully leased to Panasonic Avionics Corporation, a subsidiary of Panasonic Corporation of North America. Financing was arranged by Kevin Burkhalter of Johnson Capital’s Los Angeles office. It was provided by a major insurance company and features a fixed interest rate of around 4 percent with a fully amortizing 20-year term. The recent buyer is a Los Angeles-based privately held entity.
ANAHEIM, CALIF. – The 82,544-square-foot La Palma Industrial Building has received $5.8 million in acquisition financing. The facility is located at 4890 E. La Palma Ave. in Anaheim. This asset is a single-tenant owner-user building. The 10-year loan features a 25-year amortization schedule and an 80 percent loan-to-value. It was arranged by David Blum of NorthMarq Capital’s Los Angeles regional office.
CONCORD, N.C. — Beacon Partners has added 68 acres to an existing 54-acre parcel with plans to develop a 1.5 million-square-foot manufacturing facility called RiverOaks Corporate Center. The property is located at the corner of Poplar Tent and Derita Road. As part of the development, Beacon worked with the property owner to donate 28 acres to the Cabarrus County Soil and Water Conservation District, which will serve as an amenity for park employees and be incorporated into the Carolina Thread Trail. Beacon Partners is the developer, ColeJenest & Stone is the civil engineer and Merriman Schmitt Architects is the project architect. Grading of the site will begin in the second quarter of 2013. Jim Plyler and Lester Osborn of Piedmont Properties represented Beacon Partners in the transaction. Glen Tucker of Re/Max represented the property owner.
ATLANTA — STAG Industrial has purchased a 407,981-square-foot warehouse and distribution building, located in Atlanta, for $11.3 million. The property is fully leased to Empire Distributors, which has nine years remaining on its lease. The facility serves as the company's headquarters facility and the main distribution point for the State of Georgia.
ELK GROVE VILLAGE, ILL.— Duke Realty has broken ground on a 229,841-square-foot distribution center for Yusen Logisitics (Americas) Inc. in Elk Grove Village, immediately west of O'Hare International Airport. The facility will be located on a 10-acre site on Busse Road and will feature 30 exterior dock doors and 28,000 square feet of office space. The building is scheduled to open in April 2013. John Suerth of CBRE Group represented Yusen Logistics in the transaction. David Bercu of Colliers International represented Duke Realty.
NOBLESVILLE, IND. — Meritex has sold a 51-acre land site at 146th Street and Howe Road in Noblesville to SMC Corporation of America. Meritex acquired the property in 2008 with the intent of developing a light industrial park totaling more than 500,000 square feet. However, the recession caused a significant drop in demand for new space, says Dan Williams, chief investment officer of Meritex. SMC plans to use the land as an adjunct to its campus. Jeremy Woods of Summit Realty Group represented Meritex in the transaction.
YORBA LINDA, CALIF. – Radius Power has purchased a 34,972-square-foot industrial building in Yorba Linda for $3.8 million. It is located at 22895 Eastpark Drive. The company plans to relocate its headquarters and expand its manufacturing operations at the new facility. Radius Power was represented by Mitch Zehner of Voit’s Anaheim office. The seller, Eastpark Drive, LLC, was represented by Zach Niles of 360 Commercial Partners.
NORCROSS, GA. — Meritex has purchased a 106,945-square-foot warehouse, located at 5965 Peachtree Corners E. in Norcross. The value-add property is 70 percent leased. The buyer plans to enhance landscaping, install a new roof and renovate suite interiors. Resource Real Estate Partners represented the buyer in the transaction.