TUCSON, ARIZ. — 2470 Majestic LLC has purchased 17,664 square feet of industrial space, located at 2470 W. Majestic Park Place in Tucson, from Commerce Drive & W. Majestic LLC for $1 million. PICOR Commercial Real Estate Services’ Pat Welchert represented the buyer in the transaction, and Ron Zimmerman of Grubb and Ellis represented the seller.
CLINTON, TENN. — Southern Tube Form, an exhaust tubing manufacturer, leased the 102,000-square-foot Bodyguard Building in Clinton. This will be the second facility for Southern Tube Form. Bob Thorton of Baker Realty Company in Knoxville represented both C.A.T. Realty, the owner, and Southern Tube in the transaction. Terms of the lease were undisclosed.
BOLINGBROOK, ILL. — KTR Capital Partners has acquired a 182,400-square-foot warehouse/manufacturing facility in Bolingbrook. BPG Properties sold the property for $7.35 million. Located at 605 Territorial Dr., the facility features 30-foot ceiling heights, an ESFR sprinkler system, electro-static-dissipating epoxy finished floors, climate control, 28 docks with 130-foot minimum truck court depths and 49-foot by 40-foot bays. Daniel Cawley and Terry Grapenthin of Cawley Chicago Commercial Real Estate represented the buyer; Joseph Neverauskas provided in-house representation for the seller in the transaction.
NORTHBROOK, ILL. — NorthMarq Capital has arranged $6.65 million in financing for the new headquarters of Nestle Foods' Frozen Pizza Division. The 75,260-square-foot facility is located at 885 Sunset Ridge in Northbrook. The loan amortizes over a 15-year schedule at a 5 percent interest rate. The property, which is 60 percent office and 40 percent research and development space, has been completed renovated and redeveloped with state-of-the-art improvements. Jeff Cherner of NorthMarq's Chicago office originated the loan.
PITTSBURGH — McKnight Realty Partners has procured a $15.5 million loan for the refinancing of a Pittsburgh industrial property. The building totals 327,500 square feet and is located within RIDC O'Hara Business Park at 615 Alpha Drive. Occupancy was 80 percent at the time of closing; tenants include Benshaw Inc. The loan carries a 10-year term and a fixed interest rate; the lender is Nationwide Real Estate Investments. A Holliday Fenoglio Fowler team led by Gerard Sansosti arranged the financing on behalf of McKnight.
DALLAS — RSW Dallas has sold a 92,880-square-foot industrial building located at 11160 Denton Dr. in Dallas to Rory Sterling, Custom Floor Service. The seller was represented by Nathan Denton, Trey Fricke and Reid Bassinger of Lee & Associates' Dallas/Fort Worth office. Clint Riley of Transwestern's Dallas office represented the buyer. The price of the sale was undisclosed.
CARSON, CALIF. — Watson Land Co. has leased a 148,725-square-foot industrial property, located on 7.81 acres at 2116 E. 220th Street in Carson, to OHL. Terms of the deal were not disclosed. Situated within the master-planned Watson Corporate Center, the LEED Gold-certified property includes 32 dock-high loading positions, a 185-foot truck turning radius and a 32-foot ceiling clearance. Pro Venture’s Doug McDowell and L2 Cos.’ Lewis Latimer represented OHL in the transaction; WLC was represented in-house by Lance Ryan and Mike Bodlovich.
STRAFFORD, MO. — John Deere Reman – Springfield is planning to develop a 275,000-square-foot facility in Strafford. Located in Strafford Industrial Park, the facility will serve as a central core processing and storage location for the company. The expansion is a $14 million new capital investment to the area and will create 55 new jobs over 5 years.
AURORA, ILL. — Cohen Financial has arranged a $4 million loan for the refinancing of an industrial corporate headquarters building in Aurora. Located at 4215 Campus Dr., the 46,986-square-foot property houses office, laboratory and warehouse space. The building is fully leased by Engineering Systems Inc. Michael Grant of Cohen Financial's Chicago office arranged the 10-year, fixed-rate loan with a 20-year amortization schedule. The borrower is Campus Drive LLC and the developer is REM Management Co.
FRANKLIN TOWNSHIP, N.J. — Joy Systems has signed a lease with Mack Co. for a 100,000-square-foot industrial building located at 101 Cottontail Lane in Franklin Township. The building comprises 95,000 square feet of warehouse/distribution space and 5,000 square feet of office space. The new tenant will relocate its headquarters to the building from nearby Bridgewater. The Cushman & Wakefield team of Stan Danzig, Jules Nissim, Steve Elman and Rachel Pittard represented the tenant in lease negotiations. Paul Jerkovich represented Mack in house.