MOORPARK, CALIF. — Lee & Associates-LA North/Ventura brokered the more than $2.66 million sale of a 16,391-square-foot industrial building located within the Patriot Commerce Center at 875 Patriot Drive in Moorpark. While most of the buildings at the Ventura County center are fully built out, the two units acquired by ProDoc are in shell condition allowing the buyer to tailor the facility to its specifications. Lee & Associates’ Mike Tingus, Grant Fulkerson and Scott Linklater represented the developer, M.W. Ossola & Associates, in the transaction, and Tom Siciliano of TDS Management represented the buyer.
Industrial
RICHMOND, VA. — Medalist Properties and WRE-Byrd have sold the 475,000-square-foot, ten-building industrial property Byrd Center, located at 5625-5741 S. Laburnum Ave. in Richmond, to AF Byrd Center VA, a joint venture between Adler Real Estate Fund and TriGate Capital, for an undisclosed price. Eric Robison of Thalhimer's Richmond office represented the buyer, broker information for the seller was undisclosed.
BOCA RATON, FLA. — A first mortgage financing of $15 million was arranged for 201,205-square-foot industrial complex Boca Design Center, located at 3100/3500 N.W. Boca Raton Blvd. in Boca Raton. The 10-year loan was arranged by Fred Welker of NorthMarq Capital's Miami office through UBS Real Estate Finance Group with a 30-year amortization schedule.
AUSTIN — Karlin Real Estate has acquired a vacant 301,644-square-foot Class A corporate headquarters and manufacturing facility in northeast Austin from Dell USA, L.P. The property is located at 210 Howard Ln. in Tech Ridge, a 1.8 million-square-foot commercial and retail master-planned development alongside Interstate 35. Karlin represented itself in the transaction, while Greg Marberry, Dave Anderson and John Barksdale of CB Richard Ellis' Austin office represented Dell USA, L.P.
HOUSTON — Duke Realty Corp. has leased 80,200 square feet in Westland II, a warehouse and distribution building, to Berlin Packaging LLC, which will expand and relocate there in June. With Berlin Packaging's lease, Westland II, a 300,000-square-foot, cross-dock industrial building, will be more than 73 percent leased. Westland II is Duke Realty's second building within Westland Business Park, located just south of Highway 290 at the West Road/Eldridge Parkway exit, approximately 2 miles west of the Sam Houston Tollway. Duke Realty began development of the speculative building in this past October when another tenant outgrew its space in Westland I. Jeff Venghaus of Jones Lang LaSalle's Houston office and Chris Watts of its Chicago office represented Berlin Packaging, while Cory Driskill represented Duke Realty in-house.
TUSTIN, CALIF. — Lee & Associates has brokered the $3.82 million sale of the 24,814-square-foot Franklin Court, an industrial building located at 14262 Franklin Ave. in Tustin. Built in 1982, the property consists of two fully leased units. Lee & Associates’ Brian Garbutt and Phil Cohen represented the seller, H&H Properties, in the transaction, and Dennis and Jordan De Meis of Southwest Commercial represented the buyer, TWR Properties LLC.
MESA, ARIZ. — Cassidy Turley BRE Commercial has completed the $3.7 million sale of Falcon Commerce Park, a multi-tenant industrial property located at 1610, 1660 and 1750 N. Rosemont in Mesa. Hyatt Investments USA LLP purchased the three-building, 74,446-square-foot complex, which was built in 2009, from Arizona Graystar Return LLC. Cassidy Turley BRE Commercial’s Paul Boyle and Rick Danis represented the seller in the transaction, and Andrew Jaffe of Commercial Properties represented the buyer.
DETROIT — 1401 Vermont LLC has purchased a 28,042-square-foot industrial facility in Detroit. The buyer plans to utilize the building, which is located at 2000 Porter St., as an artists guild. Michael Grammatico and Tom Jablonski of L. Mason Capitani CORFAC International represented the undisclosed seller in the transaction. The purchase price was not released.
MINNEAPOLIS — NorthMarq Capital's Minneapolis Regional office has arranged a $26.1 million loan for a six-building industrial portfolio in Minnesota. The 602,975-square-foot portfolio includes Enterprise Corporate Center in Mendota Heights, Lakepoint Distribution Center in Plymouth, Staring Lake I and Staring Lake II in Eden Prairie, Vadnais Heights Business Center in Vadnais Heights and River Crossings in Shakopee. NorthMarq's Patrick Minea arranged the 10-year loan for the borrower through NorthMarq's correspondent relationship with Allstate Life Insurance Co.
BEACON, N.Y. — Hudson Baylor Corp. has acquired 17 acres of land within Westgate Indsutrial Park on Fishkill Avenue in Beacon. The company plans to construct a 60,000-square-foot, single-stream recycling facility that will serve Dutchess County. Prudential Serls Price Properties Commercial Group brokered the deal.