SUFFOLK, VA. — Coastal Logistics has signed a lease for 81,204 square feet of space and a 1.5 acre WareYard at the Bridgeway Business Center, located at 6701 College Dr. in Suffolk. Bobby Phillips of Cushman & Wakefield — Thalhimer's Newport News, Va., office, along with Patrick Mumey of Cushman & Wakefield — Thalhimer's Virginia Beach, Va., office represented Ashley Capital, the landlord, in the transaction. Gregg Christoffersen of Jones Lang LaSalle's Virginia Beach office represented the tenant.
HOUSTON — Houston-based Mahindra USA (MUSA) has leased 134,815 square feet of industrial space at the 315,120-square-foot Satsuma Distribution Center, located at 9020 Jackrabbit Rd. in northwest Houston. MUSA is the first tenant to lease space in the center. Graham Horton and David Buescher of Stream Realty Partners' Houston office represented MUSA, while CB Richard Ellis represented Houston-based PinPoint Commercial, the owner and developer of Satsuma Distribution Center.
CITY OF INDUSTRY, CALIF. — A 131,420-square-foot industrial property located at 19161 E. Walnut Drive in the City of Industry has sold to JP Original for $9 million. The single-story building was constructed in 1982. Adam Dzierzynski and Dennis Keane of Lee & Associates’ City of Industry office represented JP Original, which designs women’s shoes. Cushman & Wakefield’s Erik Larsen and Robin Dodson represented the seller, Unilever.
BUENA VISTA, VA. — Hunter Defense Technologies (HDT Global) has signed a full-building lease totaling 172,759 square feet for the Shenandoah Valley Industrial Facility, located at 3200 Green Forest Dr. in Buena Vista. John Lesinski and Josh Gurland of Winchester, Va.-based The Leland Group represented BPG Properties, the landlord, in the lease transaction.
DES MOINES, IOWA — NorthMarq Capital has secured $5.05 million in first mortgage financing for the 274,332-square-foot Washington Avenue Complex, an industrial property located at 1550 and 1600 E. Washington Ave. in Des Moines. Gary Rifkin of NorthMarq's Omaha, Neb., office arranged the 7-year financing with a 25-year amortization schedule through American National Insurance Co. on behalf of the borrower, DM Washington.
ELGIN, ILL. — Wheel Pros has signed a 32,122-square-foot lease at a 250,000-square-foot building, located at 2554 Northwest Pkwy. in Elgin. Elise Couston of Chicago-based Paine/Wetzel — ONCOR International and Casey Mungo of Daum Commercial's Gardena, Calif., office represented the tenant in the transaction. David Liebman of Cassidy Turley's Rosemont, Ill., office represented the landlord.
BERLIN, N.H. — Cate Street Capital Inc. and Starwood Energy Group Global have closed financing for a $275 million biomass power plant in Berlin. Equity financing for the plant was provided by Cate Street and Starwood, and Starwood also provided a portion of debt financing. Construction debt, which will be converted to term debt, is being provided through a $200 million private placement of senior secured notes. New York-based EA Markets, a financial advisor to Cate Street, is the co-placement agent of the senior secured notes. EA Markets was responsible for structuring and financing the project. The project also benefits from federal New Markets Tax Credits, a U.S. Treasury program to encourage investments for projects in locally distressed areas. Babcock & Wilson Construction Co. will construct the project, while a subsidiary of Delta Power Services, a B&W company, will provide operations and maintenance services. The project is slated to start generating power in late 2013.
FORT WORTH — Weeks Robinson Properties has acquired two distribution centers totaling 702,000 square feet in Fort Worth. The properties are currently 56 percent leased. The seller is USAA, and George Curry, Dave Richards and Chris Skibinski of Jones Lang LaSalle brokered the transaction.
HOUSTON — Bertling Logistics, Inc. has completed construction of a 52,000-square-foot office/warehouse building on 6.576 acres. The property is located at 19054 Kenswick Drive in the Houston International Trade Center, and will serve as Bertling’s North America corporate headquarters. The land site was purchased in 2010 from Houston International Trade Center, L.P. The facility consists of 12,000 square feet of office space and 40,000 square feet of warehouse space. Kingham Dalton Wilson, Ltd. was the general contractor. Lane Guinn of JLM Commercial Advisors Inc. represented the buyer.
ONTARIO, CALIF. — Western States Technologies has signed a lease for 50,000 square feet at Sky Tech Worldwide’s 90,000-square-foot industrial building near Ontario International Airport. The lease is valued at $1 million. The facility is located at 1975 E. Locust Street. The cable manufacturer will utilize 7,000 square feet of its space for offices, while the remainder will serve as warehouse and distribution space. Walt Arrington and Jeff Linden of CBRE’s Ontario office represented Western States. Mitch Fisher from Jones Lang LaSalle’s Santa Clarita, Calif., office represented Sky Tech Worldwide.