UNION, N.J. — Kalmon Dolgin Affiliates (KDA) has arranged the sale of a warehouse located at 667 Lehigh Ave. in Union for $1.82 million. The buyer, New York City-based Plex Supply Co., plans to use the 30,000-square-foot property for additional storage and distribution space. The sale also includes 2 acres of vacant land. KDA's Gary Mayzlin represented the Plex Supply Co. as well as the seller, HJH Group.
ARLINGTON, TEXAS — The Salvation Army has signed a lease for a 99,831-square-foot warehouse located at 2900 Ave. E in Arlington. The organization will take occupancy immediately and plans to use the facility as its Southeast regional disaster relief center. Brock Wilson and Mackenzie Schriber of Grubb & Ellis represented the landlord, First Industrial Realty Trust, in lease negotiations. Bill Davenport of The Davenport Group represented The Salvation Army. Terms of the lease were not disclosed.
DALLAS AND LEWISVILLE, TEXAS — CB Richard Ellis (CBRE) has brokered two industrial leases in the Dallas/Fort Worth Metroplex. In the first transaction, Ozburn-Hessey Logistics has expanded its existing lease at 4001 Adler Road in Dallas by 181,400 square feet. CBRE's Ann Huntington represented the tenant and Jake Marks, also of CBRE, represented the landlord, I-30 Distribution LP. In the second transaction, Golden Star Classic Auto Parts signed a lease for 71,400 square feet at 1800 Waters Ridge Drive in Lewisville. CBRE's Steve Trese represented the landlord, TIAA-CREF. Golden Star was represented by Dan Spika of Henry S. Miller Commercial.
ORLANDO, FLA. — Orlando Warehouse Portfolio has leased 135,640 square feet in the Beeline Distribution Center to three companies. The property is located at 2501 Investors Row in Orlando. Tech Packaging and Ralph's Transfer signed 5-year leases for 64,000 square feet and 58,800 square feet, respectively. GBH Four Star signed a 3-year lease for 12,840 square feet. Erik Schwetje of CB Richard Ellis' Orlando office represented the owner.
HOUSTON — NAI Houston has brokered the sale of 5521 Armour Drive, a 23,000-square-foot industrial building located in Houston. Travis Land and Michael Keegan of NAI represented the seller, Tire Source. Dan Nip of PMI Inc. represented the undisclosed buyer. The acquisition price was also undisclosed.
DORAL, FLA. — PS Business Parks has broken ground on a 75,000-square-foot warehouse in the Miami International Commerce Center. The Class A property is located at 8216 NW 14th St. in Doral. The firm is also redeveloping 60,000 square feet of space in the park. The Miami International Commerce Center will span more than 3.2 million square feet when complete.
CLEVELAND — Healthland, a manufacturer of small retail items, has purchased a 12,000-square-foot flex property, which is located at 4502 Prospect Road in Cleveland. The facility features 6,000 square feet of warehouse space and 6,000 square feet of future office space. Healthland is relocating from its current location in Cleveland Heights, Ohio. Scott Garson of NAI Daus represented the seller, MDZJ Properties, and the buyer in the transaction. The acquisition price was not disclosed.
PLANO, TEXAS — Equity Based Services (EBS) has acquired Advantage Self Storage, a 554-unit, 71,435-square-foot self-storage property located at 3900 McDermott Road in Plano. As part of the transaction, EBS assumed the property's debt, which consists of a non-recourse loan through Bank of America that carries a 5.6 percent fixed interest rate with interest-only payments through 2012 and a 30-year amortization thereafter. It also carries a 72 percent loan-to-value-ratio. Angelo Tomasello of Locke Acquisition Group arranged the transaction. With this most recent purchased, EBS has 64 self-storage facilities in its portfolio and expects to double that number over the next year.
CHINA LAKE, CALIF. — On behalf of the Naval Facilities Engineering Command, Barnhart Inc. has broken ground on a $9 million In-Service Engineering Facility at the Naval Air Weapons Station in China Lake. KMA Architecture & Engineering has assisted on the 21,700-square-foot design/build project, which is slated for completion in June 2010.
DENVER — On behalf of Green Mountain Corporate Center III LLC, NorthMarq Capital has arranged first-mortgage financing in the amount of $4.5 million for the 74,380-square-foot Corporate Center, an industrial property located in Denver. The transaction was a refinance of a maturing CMBS loan. NorthMarq’s Nancy Ferrell and Steven Koeneke arranged the financing through the company’s correspondent relationship with Aetna Life Insurance Company.
