DALLAS — Common Wealth Industrial Center, a 108,795-square-foot flex industrial center in Dallas, has received a $2.9 million loan through Summit Investment Partners. Thomas D. Wood Jr. of Thomas D. Wood & Co. secured the loan with a 10-year term and a 20-year amortization schedule with a fixed 5.85 interest rate. The center is a multi-tenant and is located at 3131 Irving Blvd.
Industrial
PORTLAND, ORE. – Watumull Properties has purchased two buildings totaling 83,414 square feet of office and warehouse/manufacturing space in Portland's Sunset Corridor for $5.3 million. The properties are located at 1050 N.W. 229th Ave. and 6850 N.E. Campus Drive in Hillsboro, Ore. Grubb & Ellis' David Hill, senior vice president of investment services, represented both the buyer and the seller, AMCO Hillsboro LLC. G&E's Bradford Fletcher worked with Hill in representing the seller, as did Chad Rheingold, vice president of Wyse Investment Services Company.
SAN LEANDRO, CALIF. – LBA Realty has purchased a 23,100-square-foot light industrial and warehouse facility in San Leandro. Located at 2371 Polvorosa Drive, the facility is situated on 4.9 acres and is currently leased to regional trucking company USF Reddaway. Greig Lagomarsino, senior vice president of Colliers' Oakland office, represented both the buyer and the seller, 1950 Associates, doing business as Lowenberg Corporation.
ORLANDO, FLA. — EastGroup has started construction for the $5.35 million, 76,000-square-foot Southridge IX, a distribution building located in EastGroup's Southridge Commerce Park in Orlando. The building is scheduled for completion in the first quarter of 2012. To date, EastGroup has developed 970,000 square feet of space in Southridge Park, which is currently 100 percent leased.
MACUNGIE, PA. — Malvern, Pa.-based Liberty Property Trust has purchased a 535,000-square-foot distribution property for approximately $32 million, including $8 million in costs and anticipated costs. The property has been mostly vacant for the past 5 years, but Liberty has executed a long-term lease for 63 percent of the building. The property is located at 7533 Industrial Park in Macungie.
CARSON, CALIF. – Colliers International has negotiated a 10-year lease renewal on behalf of Barton Brands of California for a 91,603-square-foot facility in Carson. The renewal is valued at more than $7 million. Barton was represented by Chuck Littell and Reid Wilbraham, associate vice presidents in Colliers' South Bay office. The landlord, AEW Capital Management, was represented by CBRE's senior vice president Bret Quinlan and executive vice president John Schumacher.
SANDSTON, VA. — Richmond, Va.-based Porter Realty Co. has negotiated the $2.7 million sale of a 145,706-square-foot industrial property located at 5700 Lewis Rd. in Sandston. Bob Porter and Cliff Porter of Porter Realty Co. represented the seller, Lewis Rd. LLC, and Dick Porter of the same company represented the buyer, NYW Enterprises.
PENDERGRASS, GA. — Titan Tire Corporation has recently renewed its lease at the 711-acre Valentine Farms, an industrial park in Pendergrass. They will continue to occupy a 120,000-square-foot facility developed by Rooker Construction. Floyd Baldwin and Drew Addison of Gainesville, Ga.-based Industrial Properties Group represented the landlord and Kurt Unger of Lee & Associates’ Atlanta office represented the tenant.
HARTFORD, CONN. — SRS Acquisition Corp. has leased 31,482-square-feet of industrial space at 90 Murphy Rd. in Hartford. Cushman & Wakefield represented SRS in the transaction, and David Richard of Colliers International represented the landlord, South Meadows No. 6.
DALLAS — Dallas-based Stream Realty has been awarded the exclusive management and leasing provider for DFW Distribution, a 498,800-square-foot distribution center, by Clarion Partners. The distribution center is in the Dallas Fort Worth International Airport submarket located at 171 West Airfield Drive. Cannon Green and Blake Kendrick of Stream Realty will lead the leasing efforts.