Industrial

C&W NEGOTIATES $21.25M SALE OF DISTRIBUTION CENTER

by admin August 10, 2011

OLIVE BRANCH, MISS. — Cushman & Wakefield has arranged the $21.25 million sale of the 600,000-square-foot Diamond Comics Distribution Center, located at 7485 Polk Ln. in Olive Branch, to New York City-based AREA Property Partners. Stewart Calhoun, David Meline, Kirk Billings and Samir Idris of Cushman & Wakefield's Atlanta office along with Wyatt Aiken and Dave Curran of Memphis, Tenn.-based Commercial Advisors represented American Fund US Investments and Real Estate Capital Partners, the sellers, in the transaction.

August 10, 2011

INDUSTRIAL FACILTY IN PORTSMOUTH SELLS FOR $1.6M

by admin August 10, 2011

PORTSMOUTH, N.H. — CB Richard Ellis/New England (CBRE/NE) has brokered the $1.6 million sale of 19 Post Rd., a 25,400-square-foot industrial building in Portsmouth. The buyer, 19 Post Road Group, purchased the property from Five N Associates. The building is comprised of 3,000 square feet of office space and 22,400 square feet of warehouse space. Michael Tamposi of CBRE/NE represented 19 Post Road Group and William Luers of Tamposi-Nash Real Estate Group, Inc. represented Five N Associates.

August 10, 2011

Industrial Western

VOIT ADDS 14 WESTERN-BASED PROPERTIES TO PORTFOLIO

by admin August 10, 2011

NEWPORT BEACH, CALIF. — Voit Real Estate Services has added 14 properties to its portfolio of asset and property management assignments throughout the Western U.S. These new assignments, which total 944,656 square feet, are located throughout Orange County, Calif., San Diego, Phoenix and Las Vegas. The 14 properties were won within the past 45 days.

August 10, 2011

Industrial Western

HERBALIFE LEASES 148,908-SF INDUSTRIAL SPACE IN CARSON

by admin August 10, 2011

CARSON, CALIF. — Herbalife International has signed a 10-year lease for 148,908 square feet of industrial space at 18431 Wilmington Ave. in Carson. The Class A space is within the master-planned Dominguez Technology Center. The facility will act as the company’s Los Angeles distribution headquarters. Herbalife will be relocating from its 82,000-square-foot space within the Watson Industrial Center, also in Carson. Herbalife was represented by JLL’s Mike McRoskey, Frank Scott, Tim O’Rourke and Barry Hill. The owner, Watson Land Company, was represented in-house by Lance Ryan and Mike Bodlovich.

August 10, 2011

Industrial Northeast

SOVRAN SELF STORAGE COMPLETES $500M FINANCING

by admin August 9, 2011

BUFFALO, N.Y. — Buffalo-based Sovran Self Storage, Inc. has completed financing totaling $500 million of senior, unsecured debt. Sovran will use proceeds from a 10-year placed term note of $100 million as well as the proceeds from a 7-year, $125 million unsecured term loan to repay its $71 million outstanding on its line of credit and a $150 million term loan that matures in June 2012. A bank lending syndicate comprised of 10 lenders including M&T Bank, SunTrust Bank, U.S. Bank and Wells Fargo Bank has committed $100 million for a 7-year delayed draw note to provide Sovran funding to repay its maturing mortgage debt. Also, Sovran negotiated a $175 million, 5-year unsecured line of credit with an accordion feature of an additional $75 million and an extension provision of up to 2 additional years.

August 9, 2011

Industrial Northeast

G.S. WILCOX & CO. REFINANCES INDUSTRIAL PORTFOLIO FOR $36.73M

by admin August 9, 2011

SOUTH BRUNSWICK, N.J. — G.S. Wilcox & Co. has refinanced a nine-building, 3.2 million-square-foot industrial portfolio at 1165 Cranbury S. River Rd. in South Brunswick for $36.73 million. The refinancing allows for a 3-year extension to the portfolio. Gretchen Wilcox and Al Raymond of G.S. Wilcox & Co. refinanced the loan.

August 9, 2011

Industrial Texas

GLOBAL CHEMLIQUIDATION LEASES INDUSTRIAL BUILDINGS

by admin August 9, 2011

HOUSTON — Global Chemliquidation has leased two freestanding industrial buildings totaling 28,838 square feet in Houston. The buildings sit on 1.8 acres at 198 Hirsch Rd. Clay Pritchett of Holt Lunsford Commercial, Inc. represented the landlord, 1114, Ltd., in the transaction.

August 9, 2011

Industrial Midwest

PEARLMARK ARRANGES $6.5M LOAN FOR IND. DISTRIBUTION CENTER

by admin August 8, 2011

INDIANAPOLIS — Chicago-based Pearlmark Real Estate Partners has closed on a $6.5 million mezzanine loan for the 1.1 million-square-foot PepsiCo Distribution Center in Indianapolis. The property is leased to Quaker Sales and Distribution, a division of PepsiCo. Michael Girimonti and Mark Witt of Pearlmark arranged the financing.

August 8, 2011

Industrial Midwest

HOLLAND COMPLETES $1.8M WAREHOUSE RENOVATION, EXPANSION

by admin August 8, 2011

IMPERIAL, MO. — Holland Construction Services has completed the $1.8 million renovation and expansion of the 55,647-square-foot H.W. Herrell Distributing Co. warehouse in Imperial. The project involved the rebuild of 11,000 square feet of the facility and the addition of 3,000 square feet of space.

August 8, 2011

Industrial Northeast

WAKEFERN FOOD CORP.’S $65M DISTRIBUTION CENTER BEING DEVELOPED

by admin August 8, 2011

NEWARK, N.J. — Forem Facility Management is developing a $65 million warehouse and distribution facility at 52-62 Cornella St. in Newark for Keasbey, N.J.-based Wakefern Food Corp. The 180,000-square-foot facility is slated to be delivered within 12 months and will serve ShopRite stores in New Jersey, New York and Pennsylvania. The project will bring 120 permanent jobs and approximately 175 construction jobs to Newark. The State Economic Development Agency has provided approval for Urban Transit Hub Credit for $45 million on a $65 million capital expenditure project. TD Bank has provided a leverage loan for approximately $27 million. Also, The Reinvestment Fund has provided a $2 million loan and Newark’s city government has provided a tax abatement. Brick City Development Corp. was involved with structuring the project financings and the entitlement process.

August 8, 2011

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