BURLINGTON, WIS. — Wildcat LLC has completed the disposition of a 13,650-square-foot industrial building, which is located at 762 Brookview Ave. in Burlington. Wisconsin Fluid Systems, which specializes in centrifuge filtration systems and biodiesel processing equipment, acquired the property for an undisclosed price. John Henderson and Vytau Barcas of NAI MLG Commercial represented the seller; Joe Busch of Bear Realty represented the buyer in the transaction.
MAHWAH, N.J. — NAI James E. Hanson has brokered the sale of a 50,000-square-foot retail/warehouse building located at 270 Route 17 South in Mahwah for $3.77 million. NAI's Kenneth Lundberg represented the buyer, Mahwah Realty LLC. Sussanne Newmark and Nancy Glick of Newmark Associates represented the seller, MJ Mahwah Properties.
REDLANDS, CALIF. — BlackRidge Real Estate Group LLC has acquired a 147,677-square-foot industrial building, located at 1455 Research Drive within the Redlands Business Center in Redlands, from Bixby Land Co. for $7.38 million. Voit Real Estate Services’ Frank Geraci and Walt Chenoweth represented the buyer in the transaction, and Jones Lang LaSalle’s Ruben Goodsell, Michael McCrary and Peter McWilliams represented the seller. Built in 2006 and 50 percent leased at the time of sale, the one-story, freestanding, concrete tilt-up building features 30 dock-high doors, three ground-level ramps and 6,000 square feet of office space.
VALLEJO AND MORGAN HILL, CALIF. — Strategic Storage Trust Inc. has acquired two properties in the San Francisco Bay Area, totaling approximately 1,350 units, for an aggregate price of $14.09 million. Located at 3480 Tennessee Street in east Vallejo, the 860-unit property consists of approximately 75,000 rentable square feet across seven single-story buildings on about 4.1 acres. Located at 222 San Pedro Ave. in Morgan Hill, the 490-unit property consists of 61,000 rentable square feet spanning three single-story buildings on approximately 3 acres. Built in 2001 and 1997, respectively, the new sites will be re-branded under the SmartStop Self Storage trade name. Holliday Fenoglio Fowler LP’s Aaron Swerdlin represented the sellers in the transaction.
NEWTON, IOWA — A Minnesota-based manufacturer has acquired a 175,000-square-foot industrial building located Newton Business Center in Newton for an undisclosed price. The buyer plan to use the property for manufacturing of folding cartons. The rail-served business center offers generous ceiling heights, cranes, heavy power and loading docks. Chris Pendroy and Kermit Marsh of Terrus Real Estate Group in Des Moines, Iowa, represented the seller, Los Angeles-based Industrial Realty Group, in the transaction.
PORTLAND, ORE. — Marcus & Millichap has presided over the $5.65 million trade of the 81,344-square-foot Cascade Business Park, an industrial property located at 19606 NE San Rafael Street in Portland. Originally built in 2000, the property is 100 percent leased as a storage and distribution center for a food company. Marcus & Millichap’s Michael Kapnick and Ryan O'Leary represented both the limited-liability-company buyer and the private-investor seller in the transaction.
BEDFORD PARK, ILL. — Sappi Fine Paper North America, a global paper products manufacturer and supplier, has signed a lease for 225,000 square feet of industrial warehouse space at 6558 W. 73rd St. in Bedford Park. The space is located within a 309,479-square-foot rail-served warehouse near the Interstate 55 Corridor. William Strey and Dirk Hrobksy of UGL Services represented the tenant; Adam Roth of NAI Hiffman represented the landlord, Mirvac Industrial Trust, in the transaction. Terms of the lease were not released.
NEW YORK CITY — Blackstone Real Estate Advisors has procured a $138 million loan for the acquisition of a Class A industrial portfolio. The portfolio consists of 17 bulk distribution buildings located across the Eastern U.S. totaling 4.4 million square feet. ING Real Estate Finance helped secure the funds and committed $69 million as joint lead arranger. It partnered with Canadian Imperial Bank of Commerce for the funding.
LA PORTE — Meritex has acquired a two-building, warehouse portfolio in La Porte. 3Ds Porte LLC sold the 313,000-square-foot portfolio for an undisclosed price. The Class A properties range in size from 115,000 to 198,000 square feet. Additionally, Meritex acquired the rights to purchase a 13-acre land parcel located between the two buildings. The land parcel is capable of supporting an additional 150,000 square feet of warehouse development. The portfolio, which is 100 percent occupied, will be managed by Meritex. Terms of the transaction were not released.
SIMI VALLEY, CALIF. — NAI Capital has arranged the purchase of an 81,646-square-foot industrial property located at 61-69 W. Moreland Road in Simi Valley. Terms of the deal were not disclosed. NAI Capital’s David Young and Chad Gahr represented the buyer, Entertainment Earth Holdings LLC, in the transaction, and Scott Caswell of Delphi Business Properties represented the seller, RGH Holdings LP. The distributor of action figures and toy collectables will relocate from its two buildings, totaling approximately 30,000 square feet, in North Hollywood to the new building this summer. Prior to sitting vacant for 2 years, the industrial building, which includes approximately 15,000 square feet of office space, was occupied by Ronco, the company made popular by Ginsu Knives.