PHOENIX — Cassidy Turley BRE Commercial has completed the $7.8 million sale of the 133,600-square-foot Mountain Vista Commerce Center located at 14647 S. 50th St. in Phoenix. California-based Buchanan Street Partners purchased the multi-tenant, flex industrial property from Berkadia Commercial Mortgage, a special servicer for a CMBS pool. Built in 1999, the property was 72 percent leased at the time of sale. Cassidy Turley BRE Commercial’s Bob Buckley, Steve Lindley and Tracy Cartledge represented both the buyer and the seller in the transaction.
HAYWARD, CALIF. — Lee & Associates has handled U.S. Trading’s acquisition of an approximately 130,000-square-foot warehouse building located within close proximity to Interstate 880 at 21118 Cabot Blvd. in Hayward. Constructed in the early 1980s, the concrete tilt-up building features 20+ docks and heavy power. Lee & Associates’ Jesse Lucas and Chris Schofield represented the buyer in the transaction; ProLogis, the seller, was represented in-house.
FORT LAUDERDALE, FLA. — Cabot III – FL2W04&W05 LLC has acquired Cypress Creek Industrial Park, a two-building property located at 6500 and 6600 NW 12th Ave. in Fort Lauderdale. Liberty Property Limited Partnership sold the 8.7-acre, 131,791-square-foot office/warehouse property for $4.8 million or $36.42 per square foot. At the time of closing, the property was 85 percent leased. Current tenants include Men's Warehouse, US Remodeler's, Professional Services Industries and Alcatel-Lucent. Scott O'Donnell, Dominic Montazemi, Kirk Nelson and Miguel Alcivar of CB Richard Ellis represented the seller in the transaction.
BUFFALO GROVE, ILL. — J&T Enterprise has acquired a 34,216-square-foot industrial property located at 1225 Busch Parkway in Buffalo Grove. Situated on 3.12 acres, the Class B property features three interior loading docks and 16-foot ceiling heights. Bill Novelli, Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CB Richard Ellis represented the buyer; Terry O'Hara and Paul Tesdal of Lee & Associates represented the seller, 1225 Busch Parkway, in the transaction.
HEBRON, KY. — ProLogis has signed a third-party logistics provider to its ProLogis Park 275 property in Hebron. The company will lease 70,000 square feet at Building Four, which is approximately 10 miles south of Cincinnati. The tenant signed a third-quarter lease for 30,000 square feet, followed by a fourth-quarter lease of 40,000 square feet. Additional terms of the transaction were not released.
YAPHANK, N.Y. — Global Tissue Group has signed a lease for a 232,135-square-foot industrial facility located at 19 Nicholas Drive in Yaphank. The manufacturer already occupied the adjacent building as its headquarters and manufacturing plant. The new building is situated on 29 acres and was formerly occupied by Estee Lauder subsidiary Whitman Packaging, which vacated at the end of last year. The building contains 22-foot ceilings, 19 loading docks and 795 parking spaces. Richard Cohen and Ashley Cohen of Ashlind Properties represented the tenant in lease negotiations. The landlord, Melville, N.Y.-based Rechler Equities, provided in-house representation.
HOLLISTON, MASS. — Fresno, Calif.-based Electronics Recyclers International (ERI) has signed a 5-year lease for 100,000 square feet at 89 Cross St. in Holliston. The industrial space, formerly an Avery Dennison distribution facility, will be used by the company as recycling space to serve its New England customer base. The NAI Hunneman team of Cathy Minnerly, Mike DiGiano, David Gilkie, Michael McCarthy and Neil Sogard represented ERI in lease negotiations. Chris Tosti of CB Richard Ellis represented the landlord, Dennison Manufacturing Co.
GRAND PRAIRIE — Evolution Packaging, a fulfillment and packaging services company, has signed a 51,200-square-foot lease in the Trinity West Business Park located at 2450 and 2550 114th St. in Grand Prairie. The 140,900-square-foot industrial park offers close proximity to DFW International Airport and access to State Highway 360. Mark Hull and Brett Heinen of Henry S. Miller Brokerage represented Evolution Packaging, while Jim Ferris and Michael Spain of Bradford Co. represented the landlord.
ALSIP, ILL. — FutureMark Paper Co. has renewed its lease at 13040 S. Pulaski in Alsip. The environmentally-friendly paper manufacturer leases 81,468 square feet of industrial space at the property. Ryan Hanley and Chris Gary of Darwin Realty & Development Corp. represented the tenant in the transaction. The landlord is Australia-based Mirvac Property Trust. Terms of the transaction were not released.
CRANSTON, R.I. — Fantini & Gorga has arranged $2.37 million in permanent financing for a flex property located in Cranston. The property, a 53,570-square-foot flex industrial building, is situated on 3.96 acres at 28 Kenney Drive. The borrower was NEREEF Cranston LLP, which is an affiliate of Calare Properties. The lender was an undisclosed insurance company.