CARROLLTON, TEXAS — NorthMarq Capital has secured $6.88 million in first-mortgage financing for the Crosby Industrial Building located in Carrollton. The multi-tenant property totals 219,780 square feet. The loan includes a 3-year term, a 25-year amortization schedule and a 74 percent loan-to-value ratio. John Stewart of NorthMarq's Dallas office arranged the loan on behalf of Sean Porter with Seaport Interests. The lender was Wells Fargo.
Industrial
BRANDYWINE, MD. — hhgregg has signed a 393,440-square-foot lease with Capital Development Co. for space in a former Circuit City distribution center. Located at 14301 Mattawoman Dr. in Brandywine, hhgregg will use the facility as a regional distribution hub. Michael Elardo and Brian Kruger of Preston Partners and Lawrence Shaw of Clarus Properties represented hhgregg. Cushman & Wakefield’s Ned Brady and Matthew Laraway represented the landlord. In September, hhgregg purchased two former Circuit City stores in Virginia.
ST. LOUIS — Global Granite & Marble has signed a lease for 74,000 square feet of space at 10800 Linpage Pl. in St. Louis. The company plans to consolidate all aspects of its St. Louis-based operations into one facility. The new headquarters will feature office, showroom, sample and warehouse space for the company’s residential division, as well as Global Architectural Products, the company’s commercial division. Global plans to take occupancy in spring 2010. Jane Hollo of Colliers Turley Martin Tucker represented the tenant; Casey Urkevich of Block Hawley Commercial Real Estate Services represented the undisclosed landlord.
PHILADELPHIA — Colliers Lanard & Axilbund has brokered the sale of a 63,000-square-foot warehouse/distribution facility located in Philadelphia for $3.71 million. The building is situated on 3.04 acres at 913-29 Wallace St. The single-story building features a partial mezzanine area with 8,000 square feet of office/showroom space as well as parking for 75 cars. Michael Barmash of Colliers represented the sellers, Dorothy Jane Staples and Michael Staples. The buyer, 913 Wallace Street Associates LP, is renovating the property, formerly a store fixture business, for warehousing purposes.
CITY OF INDUSTRY, CALIF. — Lee & Associates brokered the $5.6 million sale of a 53,964-square-foot industrial property located at 528-538 S. 6th Ave. in City of Industry. Built in 2003, the property comes equipped with eight dock-high doors, 24’ ceiling clearance and a large fenced yard. Lee & Associates’ Jeff Bethel and Michael Lee represented the local buyer, Richwell Property Management LLC, and Bethel represented the seller, Catesgarb Holdings Inc., a local real estate investment company.
GREER, S.C. — Grubb & Ellis|The Furman Co. has arranged a lease for approximately 266,000 square feet of warehouse space in Greer. Speedway Packaging & Distribution will occupy the space, which is located at 1221B S. Batesville Rd. The lease is valued at $3.3 million. Perry Major of Grubb & Ellis represented Speedway in lease negotiations. Major and John Scott, also of Grubb & Ellis, represented the landlord, ProLogis.
WOODLAWN, MD. — Blue & Obrecht Realty has completed the sale of The Hunter Building, a 22,192-square-foot flex building located at 1724 Whitehead Rd. in Woodlawn. Richard Blue of Blue & Obrecht Realty represented the seller, Atlantic Realty Cos. Paul Obrecht and Krager Sanders, also of Blue & Obrecht, represented the buyer, Emjay Engineering & Construction Co. The acquisition price was not disclosed.
DAYTON, OHIO — Mark Dlott, Norm Khoury and Dave Tobeson of Colliers Turley Martin Tucker – Dayton negotiated the lease of 100,000 square feet of industrial space at 98 Quality Ln. in Dayton. Carter Logistics leased the space for $600,000 from Priority Insulation. Additionally, Dlott represented McQuay International in the lease of 156,000 square feet of industrial space at 2875 Needmore Rd. in Dayton. The lease was valued at $560,000, and the landlord is Rex Radio & Television.
WAUWATOSA AND MILWAUKEE, WIS. — Inland Cos. has brokered two leases totaling 6,348 square feet in Wisconsin. In the first transaction, Daniels Sharpsmart leased 5,000 square feet of warehouse space at the former Roundy’s Distribution Center, which is located at 11300 W. Burleigh St. in Wauwatosa. Inland Cos.’s Jim Larkin and Steve Sewart brokered the transaction. Additionally, Lyle Landowski and Steve Pape, also of Inland, brokered the lease of 1,348 square feet to Kenneth Raskin MD S.C. dba Body Logic. The office space is located within Honey Creek Corporate Center II at 115 S. 84th St. in Milwaukee. Terms of the leases were not released.
COLONIE, N.Y. — Albany, N.Y.-based NAI Platform has arranged the $3.75 million sale of a 138,450-square-foot industrial facility located in Colonie. The facility is situated on 9.76 acres at 10 Jupiter Lane. The seller, Empire Merchants North, is leasing the building back for the short term while it waits for its new 200,000-square-foot facility in Coxsackie, N.Y., to be completed. Daniel O'Brien and Robert Murphy of NAI Platform arranged the sale. The buyer's name was not disclosed. NAI Platform and Nick DeMase & Associates are jointly listing the property for lease.