GROVELAND, FLA. — Commercial Warehousing Inc. has signed a lease for 192,000 square feet of industrial space at 19925 Independence Blvd. in Groveland. The space is a portion of the former Circuit City distribution facility, which totals 706,500 square feet. David Murphy of CB Richard Ellis' Orlando, Fla., office represented the landlord, Cole Real Estate Investments, in the transaction. Terms of the lease were not released.
WYOMING, MICH. — Franklin Partners is redeveloping and renovating 4247 Eastern Avenue S.E. in Wyoming. The company is raising the roof on the 324,000-square-foot factory, which was declared functionally obsolete, from 15 to 32 feet clear height on more than 70 percent of the building. Once completed in March, Grand Rapids, Mich.-based Undercar Products plans to utilize the facility to manufacture automotive components. Built in the 1950s, the facility has been vacant since 2007. Franklin had partnered with Canada-based Rooflifters to add the addition clear height to the existing building. Additionally, Franklin Partners plans to upgrade the buildings' exterior and construct offices and an enhanced parking area. Colliers International | West Michigan brokered the building transaction with Undercar Products.
HOWELL, MICH. — Michigan Automatic Turning has acquired 112,500 square feet of industrial space in Howell. Arete Industries sold the property, which is located at 1045 Durant Dr. Jim Montgomery of Signature Associates represented the buyer; Montgomery and Steven Gordon, also of Signature Associates, represented the seller in the transaction. The acquisition price was not released.
BLOOMFIELD TOWNSHIP, MICH. — Bataan LLC has purchased a 4,700-square-foot property in Bloomfield Township for an undisclosed price. The property, which is located at 2274 Telegraph Road, was sold by John Wohlfeil Jr. Tony Schmitt of Mid-America Real Estate – Michigan represented the seller in the transaction.
EDISON, N.J. — The Goldstein Group has brokered the sale of the former Entenmann's bakery and distribution facility in Edison for $2.77 million. The buyer, Edison Equities LLC, plans to redevelop the site, which is located at 2120 Lincoln Hwy., into a retail strip center. It will lease a portion of the center to Entenmann's for a retail bakery store. The Goldstein Group team of Chuck Lanyard, Lew Finkelstein and C.J. Hutler brokered the deal. The seller was Orograin Bakeries Sales.
SAN LEANDRO, CALIF. — American Packaging Co. has renewed its more than 72,000-square-foot industrial lease in San Leandro for an additional 5 years. Represented by Craig Hagglund of Lee & Associates, the locally based tenant has called the concrete tilt-up warehouse home for the past 7 years. JP Morgan, the landlord, was represented in-house.
NASHVILLE, TENN. — Bernard Financial Group has arranged a $2.9 million loan for the United States Postal Service. The loan is secured by a 217,808-square-foot industrial/warehouse facility in Nashville. The borrower is USP Nashville LLC. Dennis Bernard and Kevin Kovachevich of Bernard Financial Group originated the loan, which was provided by Symetra Life Insurance Co.
MIAMI — Moduslink Corp. has signed a lease for 114,000 square feet of industrial space at Medley Distribution Center, which is located at 11000 N.W. 92nd Terrace in Miami. The 250,000-square-foot, Class A building is located within Flagler Station Business Park. The transaction is a long-term renewal of 57,000 square feet and an expansion of 57,000 square feet. Steve Medwin, Harry Wardell and Nick Wigoda of Jones Lang LaSalle represented the landlord, Chicago-based Columbia Florida 92nd Industrial, in the transaction. Terms of the lease were not released.
CHICAGO — Romualdo Camarena LLC has acquired a distribution facility located at 3355 W. 48th Place in Chicago. The company plans to use the 25,000-square-foot facility to launch its new tequila import distribution business. Mark Nelson and Mike Nelson of NelsonHill represented the buyer; Matt Rogatz of Chicago Industrial Real Estate represented the seller, OK Real Estate Partners, in the transaction. The acquisition price was not disclosed.
LINDEN, N.J. — Cronheim Mortgage has arranged $5 million in permanent financing for two adjacent industrial buildings located in Linden. The buildings total 267,446 square feet and are fully occupied, though none of the current leases extend past 3 years. The loan carries a 10-year term with a 4.95 percent interest rate and a 25-year amortization schedule. The Croheim team of David Turley, Anna Westhoff and Janet Proscia secured the loan on behalf of the undisclosed borrower through an insurance company.