NEW BERLIN, WIS. — Reynolds Machine Co. has leased 100,520 square feet of industrial space at 17005 W. Ryerson Rd. in New Berlin from First Industrial Realty Trust. Ryan Kopp and Steve Sewart of Inland Cos. represented the landlord in the transaction.
NEW YORK CITY — Hudson Realty Capital has funded a $4.6 million bridge loan for a 31,200-square-foot industrial loft building in Brooklyn. The borrower, an undisclosed developer, is redesigning the vacant building for multifamily use, and will use the financing to fund necessary reserves.
CERRITOS, CALIF. — A 105,680-square-foot industrial property in Cerritos has sold to Nima Accessories for $7 million. The property is located at 16804-16808 Gridley Place. Jim Halferty and James Kinetz of Lee & Associates’ Los Angeles-Central office represented the buyer. Colliers International represented the seller, L-W Income Properties, in this transaction.
TEMECULA, CALIF. – A 102,566-square-foot industrial building in Temecula has sold to JLNI, LLC and KPN Industrial, LLC for $3.8 million. The buyers subsequently leased the building to Crossroads Church, Inc. and Reliant Food Service. The 60-month lease term is valued at $1.3 million. Andy Melzer of Cassidy Turley BRE Commercial represented JLNI, LLC and KPN Industrial, LLC in both the sale and lease transactions, along with Kerry Schimpf. The seller, U.S. Bank National Association, was represented by Charley Black of Lee & Associates. Rick Gilliam and Jon Stevenson of High Tower Capital, Inc. represented the lessees in the lease transaction.
VIRGINIA BEACH, VA. — Spring Water has purchased the 183,814-square-foot former U.S. Foodservice building, located at the intersection of Diamond Springs Road and Northampton Boulevard in Virginia Beach, from USF Propco II & U.S. Foodservice for $5.2 million. The buyer plans to demolish the industrial property and construct apartments on the site. Robert Thornton and William Throne of Cushman & Wakefield/Thalhimer's Virginia Beach office represented the buyer in the transaction. CBRE represented the seller.
NORTH JACKSON, OHIO —Marcus & Millichap has brokered the $12.4 million sale of a 307,315-square-foot distribution facility in North Jackson that is net-leased by the Gerdau Corp., a long steel production company. The lease has five years remaining. John Godwin, Deno Bistolarides and Ryan Vinco of the Detroit office of Marcus & Millichap represented the buyer and seller. The property is located at 382 Rosemont Rd.
FORT WAYNE, IND. — Wochinske Investments LLC has purchased 11,500 square feet of industrial space at 2720 Goshen Rd. in Fort Wayne. The sales price was undisclosed. Carolyn Spake-Leeper and Karen Spake of CBRE / Sturges represented the seller, RMD Resources LLC, in the transaction. They also represented the buyer.
HOUSTON — NAI Houston has arranged the sale of a 18,250-square-foot manufacturing facility, located at 11010 Wallisville Rd. in Houston. Chris Kugle and John Ferruzzo of NAI Houston represented the buyer, Zinc Texas Real Estate, in the transaction. Ryan Fuselier of Jones Lang LaSalle's Houston office represented the seller, Covalence Specialty Adhesives.
AYER, MASS. — Hood Industries Inc., a hardwood distributor, has signed a 10-year lease for 74,240 square feet at 91 Fitchburg Rd. in Ayer. The warehouse and distribution facility is situated on nine acres. Alan Ringuette of The Stubblebine Co. represented Hood Industries in the transaction. He also represented the landlord, GFI Partners.
BROADVIEW, ILL. — TK Simplex, a hydraulics manufacturer, has sold its 104,000-square-foot facility, located at 2525 Gardner in Broadview. Timoth Cahill, Robert Tamillio and Chase Macleod of UGL Services secured the undisclosed buyer. At the same time, TK Simplex relocated its administrative, sales and lab testing offices to 777 Oakmont Lane in Westomont. Jim Whiteside of Heartland Commercial represented the landlord, UBS REIT, in the lease deal. Cahill, Tamillio and Macleod represented TK Simplex.