GADSDEN, ALA. — Ontario, Canada-based The Narmco Group has purchased the former Ridge Building System facility in Gadsden. Houston-based Ridge Building Systems sold the property for $3.3 million. Situated on 25 acres, the 240,000-square-foot industrial facility is 100 percent under crane. John Coleman and Sonny Culp of Birmingham, Ala.-based Graham & Company represented the seller in the transaction.
HENRICO COUNTY, VA. — Slurry Pavers Inc. has acquired a 42,300-square-foot property, which is located at 3617 Nine Mile Road in Henrico County. Virginia Truck Center of Richmond, Va., sold the property, which is situated on 11.4 acres, for $1.1 million. Virginia Truck Center plans to continue to operate its business at the property. Jeffrey Cooke and L. Birck Turnbull of Cushman & Wakefield | Thalhimer brokered the transaction.
MIAMI — Welsh Family Enterprises has completed the disposition of Finger Lakes Warehouse in Miami. Robert Pereira purchased the 13,084-square-foot warehouse, which is located at 1950 N.W. 93rd Ave. in Miami, for an undisclosed price. Kris Wagner and Richardo Perez of Colliers International South Florida represented the seller; Parvani Commercial represented the buyer in the transaction.
FISHERS, IND. — Meritex NxNE LLC has acquired North by Northeast Business Park in Fishers for an undisclosed price. The 306,408-square-foot, three building complex consists of 9715 Kincaid Drive, 8700 Roberts Drive and 8707 Roberts Drive. Jeff Castell and Angie Wethington of Cassidy Turley represented the seller, Wells Fargo, in the transaction.
CLEVELAND AND TWINSBURG, OHIO — Premier Development Partners has acquired two industrial properties in the Cleveland area for a consideration of $2.3 million. In the first transaction, Premier purchased 12117 Bennigton Avenue in Cleveland from Premier Manufacturing Co. for $1.15 million. Situated on 12.3 acres, the three-building industrial complex offers 200,173 square feet. The transaction include a 1-year leaseback. Once the leaseback term ends, the property will be redeveloped and tenanted. Additionally, Premier purchased a two-building 54,000-square-foot, multi-tenant complex, located at 2242-2272 Pinnacle Parkway in Twinsburg, from Orix Special Services for $1.15 million. The property is currently 70 percent occupied. The Barna Caplan Team of CRESCO Real Estate represented the sellers in both transactions.
PLYMOUTH AND BURNSVILLE, MINN. — NorthMarq Capital has arranged $10.87 million in first mortgage financing for a three-building, 172,094-square-foot industrial portfolio in Minnesota. The assets are Plymouth Tech IV and V, which are located at 5500 and 5010 Cheshire Lane North in Plymouth, and Burnsville Bluffs II, which is located at 11351 Rupp Dr. in Burnsville. Patrick Minea of NorthMarq arranged the 7-year term loan for the borrower through NorthMarq's relationship with Associated Bank.
OKLAHOMA CITY — A joint venture between Dallas-based Atlas Advisors Commercial Real Estate and Barton Creek Capital has secured a $15.71 million loan for its purchase of a 561,551-square-foot Oklahoma City warehouse portfolio. The portfolio is situated in the city's Southwest Industrial submarket and was 85 percent leased at the time of closing. The loan is variable rate, non recourse and was provided by Chicago-based NXT Capital. Jason Pumpelly of Johnson Capital's Dallas office arranged the loan.
CARSON, CALIF. — Lee & Associates has closed the $5.86 million purchase of a 78,486-square foot industrial building, located at 2525 El Presidio St. in Carson. Built in 1990, the property includes 6,318 square feet of office space. Lee & Associates-Orange’s Jeff Gahagan and Scott Seal represented the undisclosed buyer in the transaction, and Clint McMorris of Colliers International represented the seller, Charles Tsai.
MIAMI — Allied Caribbean Distribution has signed a lease for 45,700 square feet of industrial space at Medley Distribution Center in Flagler Station Business Park in Miami. The tenant is relocating from its current warehouse in Doral, Fla. The Medley Distribution Center is a 250,000-square-foot Class A industrial/office building located at 11000 N.W. 92nd Terrace in Miami. Steve Medwin, Harry Wardell and Nick Wigoda of Jones Lang LaSalle represented the Chicago-based landlord, Lincoln Advisory Co., in the transaction. Terms of the lease were not released.
ORLANDO, FLA. — DCT Industrial has acquired a 50,000-square-foot property at 3001 Directors Row in Orlando. The building sold for $3.04 million. John Frederick and Morgan Wiseman of Realty Capital represented the undisclosed seller in the transaction.
