WAYNE, N.J. — NAI James E. Hanson has brokered the sale of a flex building located at 400 Newark Pompton Turnpike in Wayne. The property consists of a 39,000-square-foot building situated on more than 5 acres. The building features 9,000 square feet of office space, with the remainder consisting of warehouse space. The warehouse component contains 24-foot clear ceilings, three dock doors, drive-in capability, outside storage space, and car and trailer parking. The buyer, Krowne Metal Corp., plans to also occupy the building. NAI's Barry Cohorsky represented the buyer. W. Joshua Levering and Gregory Reid, also of NAI, represented the seller, The United Yarn Products Company. The acquisition price was not released.
Industrial
RIVERSIDE, CALIF. — Lee & Associates has closed the $4.2 million sale of a 111,316-square-foot industrial building located at 1850 Atlanta Ave. in Riverside. The freestanding industrial facility is situated on 10 acres of fenced-in property. Lee & Associates’ Bruce Springer and Vince Anthony represented the seller, Fleetwood Enterprises, in the transaction, and the brokerage firm’s Jeff White, along with Brad Yates of Grubb & Ellis, represented the buyer, Crystal Windows.
ATLANTA — An affiliate of KTR Capital Partners has acquired Gateway Distribution Center, a two-building warehouse complex located at 6047 and 6049 Fulton Industrial Blvd. SW in Atlanta. Situated on 19 acres, the 410,806-square-foot facility features rail service, 24-foot clear ceiling heights, T-5 lighting, and 102 exterior dock doors. The property is currently 74 percent leased to two tenants. The acquisition price was not released. CB Richard Ellis represented the undisclosed seller in the transaction.
GREEN PARK, MO. — Italian-based Bitrode Corp. is relocating and expanding its operations in the St. Louis area. The company has selected ARCO Construction Co. to construct an 85,000-square-foot facility at 9787 Green Park Industrial Dr. in Green Park. The facility will offer 54,000 square feet of manufacturing space, 12,000 square feet of office space and 19,000 square feet for future expansion. ACI Boland is providing architectural services for the project, which is scheduled for completion in April 2011. Other project partners include Civil Engineering Design Consultants, McNealy Engineering, Aschinger Electrial, C R Mechanical and Parkway Construction Services. Keenan Properties in representing Bitrode in the transaction.
NORTH KANSAS CITY, MO. — Welch & Wilson, a third-party logistics provider, has leased a 155,000-square-foot industrial building in North Kansas City. John Belger & Associates owns the property, which is located at 1836 Levee Road. Mark Long and Tracey Mann of Zimmer Real Estate Services represented the Indianapolis-based tenant; David Zimmer, also of Zimmer Real Estate Services, represented Belger & Associates in the transaction.
LEBANON, TENN. — New Jersey-based Monmouth Real Estate Investment Corp. has acquired a free-standing industrial building for $14.5 million. The company purchased a 381,240-square-foot bulk distribution center, which is fully leased to Cracker Barrel Old Country Stores Inc., in Lebanon. Brad Pepin of Stan Johnson Co. represented Monmouth and the seller, Miami-based United Trust Fund, in the transaction.
LANCASTER, PA. — Lancaster-based NAI Commercial Partners has brokered the sale of a 159,863-square-foot industrial property located at 1175 Manheim Pike in Lancaster. Shadow Lawn City Line LP acquired the property from Thermal Solutions Products for $9.75 million. Daniel Berger of NAI represented the seller, while Timothy Shreiner of Prudential Homesale Services Group represented the buyer.
JACKSON, MISS. — Dakota Ventures Realty has acquired the former MPI manufacturing facility in Jackson for an undisclosed price. The 225,000-square-foot facility is situated on 19 acres at 1425 Ridgeway St. Guy Parker of Parker Real Estate Properties represented the buyer; David Price of dnp Corp. represented the undisclosed seller in the transaction.
EARTH CITY, MO. — NorthMarq Capital has arranged a $5.11 million loan for 13400 Lakefront, a 232,000-square-foot industrial building in Earth City. The financing was based on a 15-year term with a 15-year amortization schedule. Northmarq's David Garfinkel arranged the loan through the company's correspondent relationship with Aetna.
ARLINGTON — Joern's Healthcare, represented by Blake Anderson of Grubb & Ellis, has leased 99,840 square feet of industrial space at 2100 Design Rd. in Arlington. Trey Fricke and Reid Bassinger of Lee & Associates represented the landlord, Ridge Property Trust.