WEST BLOOMFIELD TOWNSHIP, MICH. — Southfield, Mich.-based Bernard Financial Group has arranged a $1.9 million loan for the West Bloomfield Tech Center, which is located in West Bloomfield Township. Built in 1988, the three-building property offers 81,184 square feet of single-story flex industrial/office space. Kevin Kovachevich of Bernard Financial Group originated the loan.
BROCKTON, MASS. — NorthEast Electrical Distributors (NEED) has completed its relocation to a new 190,000-square-foot facility at Brockton. The new property, which is located on Oak Street, contains more than 160,000 square feet of warehouse space, a training center and a cafeteria. The company relocated its headquarters and distribution center to the new building from Canton, Mass. The project manager was Newton, Mass.-based Diversified Project Management. The general contractor was Dacon Corp., and the project architect was Maugel Architects.
SUGAR LAND — The Sugar Land City Council has approved a tax abatement with Accredo Packaging and API Realty on new real property improvements and personal property for a 171,000-square-foot expansion to Accredo Packaging's manufacturing facility in the Sugar Land Business Park. Designed for LEED Silver certification, the expansion will add more than $9 million in real property, $22 million in personal property, $1 million in new inventory value and 100 jobs to the community. Accredo Packaging manufactures and supplies sustainable, flexible packaging to the pre-packaged foods and consumer products markets in North America.
GRAND PRAIRIE — Bank of America has sold a 103,584-square-foot industrial building, located at 2895 113th St. in Grand Prairie, to Wilkerson Properties for an undisclosed amount. Mark Graybill and Donnie Rhode of Lee & Associates represented the seller, while Michael Stanzel of NAI Robert Lynn represented the buyer.
HOUSTON — Kevin Burkhalter of Johnson Capital's Los Angeles office, along with Jason Pumpelly of the firm's Dallas office, has arranged $14 million in permanent financing secured by two 100-percent-leased industrial warehouse and distribution buildings in Houston. The terms of the 12-year loan, arranged on behalf of the property owner, a privately held entity, included 3 years of interest only payments followed by a 30-year amortization schedule at a fixed rate for the remaining term.
KNOXVILLE, TENN. — Los Angeles-based NatKnox has acquired the 37,210-square-foot former Keebler Cookie Distribution Center in Knoxville. Located at 427 Park Village Road, the property offers desirable ceiling heights, multiple loading docks and modern efficient office space. The buyer plans to use the property for warehousing, distribution, and commercial and office requirements along with its existing property at Cedar Bluff Road and Interstate 40/75. Bob Thornton of Baker Realty Co. brokered the sale. The acquisition price was not released.
WAUKESHA, WIS. — FJF Investments I LLC has acquired a 14,000-square-foot industrial property in Waukesha. The property is situated on 2.65 acres at 1505 Arcadian Ave. Albert Kropp Revocable Trust sold the property for an undisclosed price. Adam Matson of NAI MLG Commercial represented the buyer; Brian Parrish of The Dickman Company/CORFAC International represented the seller in the transaction.
BELLWOOD, ILL. — AGD Limestone and Steel Company has purchased a 40,000-square-foot land parcel in Bellwood. The industrial site is located at 2209 Railroad Ave. The buyer plans to use the site for material storage. Trinity Scurto of Brown Commercial represented the buyer; Daniel Fanelli and Anthony Leeds of Darwin Realty & Development Corp. represented the undisclosed seller in the transaction. The sales price was not released.
PASADENA — East Belt Business Park, a four-building, 350,000-square-foot, Class A warehouse and distribution center, is completely leased. The development was constructed in two phases and completed in 2008 near the Port of Houston along the East Sam Houston Parkway South in Pasadena. Trammell Crow Co. and Morgan Stanley Prime Property Fund own the property. Faron Wiley of CB Richard Ellis assisted Trammell Crow in the following deals to complete its lease ups: Wrist USA for 68,833 square feet in Building 4; Doerle Food Service for 44,800 square feet in Building 2; Axion Logistics for 14,265 square feet in Building 1; and Airgas Southwest for 4,880 square feet in Building 1.
MESA, ARIZ. — CB Richard Ellis has negotiated Alpine Valley Bread Co.’s $3 million acquisition of a 61,157-square-foot industrial building located at 300 W. Southern Ave. in Mesa. The manufacturer and distributor of natural and whole-grain bakery products will expand from its current 17,000-square-foot operations when it occupies the new building in early 2011. CBRE’s Joe Porter, Pat Feeney, Dan Calihan and Rusty Kennedy represented the buyer, in the transaction, and Diamond Pacific Investments’ Rick Mineweaser represented the seller, Paradise Valley, Ariz.-based Ol-Lonely Enterprises.