LAS VEGAS — EastGroup Properties has purchased Arville Distribution Center in Las Vegas for $11 million. Constructed in 1997, the two-building business distribution complex offers 142,000 square feet of space. At the time of acquisition, the center was 77 percent occupied by eight tenants. The acquisition marks the company’s entry into Las Vegas. Additional details regarding the transaction were not released.
Industrial
CHARLOTTE, N.C. — Albert’s Organics has signed a 43,290-square-foot lease for space in Dallas-based Westmount Realty Capital’s Logistics Pointe industrial center. The 1.1 million-square-foot development is located near the Charlotte/Douglas International Airport at 11922 General Dr. in Charlotte. Logistics Pointe is currently 86 percent leased, and additional tenants include Precision Framing Systems, which occupies 226,642 square feet. The Charlotte office of Colliers Pinkard represented Westmount in the lease.
SHOREVIEW, MINN. — Welsh Capital has secured a $4.35 million loan for a flex industrial property located in the Twin Cities suburb of Shoreview. The single-tenant building contains 70,826 square feet of office and warehouse space, and is located at 707 W. County Rd. The borrower received a new first and second mortgage for the property. Terms of the deal were not disclosed.
CARROLLTON AND LEWISVILLE, TEXAS — The Dallas/Fort Worth office of Lee & Associates has brokered two industrial transactions. In the first deal, Commander Properties disposed of a 17,088-square-foot property located at 3218 Commander Dr. in Carrollton. Adam Strittmatter and Nathan Denton of Lee & Associates represented the seller. The buyer, William L. Bryan & Associates, was represented by Matt Thompson of Colliers International. In the second deal, Broadtech Inc. signed a lease for 62,847 square feet of industrial space at 1401 Lakeway Drive, located in Lewisville. Ken Wesson and Greg Nelson of Lee & Associates represented the landlord, Cabot Properties. The tenant was represented by Grant Laughlin of Laughlin Commercial.
PLACENTIA, CALIF. — M&M Acquisitions has acquired a 26,285-square-foot industrial building for $3.9 million. The property is located at 1700 Barcelona in Placentia. Paul Gingrich of DAUM Commercial Real Estate Services represented the buyer; Chris Migliori, also of DAUM, represented the seller, Weise Living Trust, in the transaction.
LEOMINSTER, MASS. — The Stubbledine Company/CORFAC International has completed the sale of a 152,000-square-foot industrial building, located at 163 Pioneer Dr. in Leominster. The building is a single-story, rail-served manufacturing facility that is situated on 13.3 acres. It is fully leased to three tenants. The Stubbledine Company represented the buyer, Framingham, Mass.-based AIS Development, as well as the seller, AP Realty. The acquisition price was not disclosed.
BRIDGEWATER, N.J. — United Parcel Services (UPS) has renewed its lease for 26,000 square feet at Bridgewater Business Park, located in Bridgewater. The park comprises 19 flex buildings totaling approximately 423,000 square feet and is owned by New Jersey-based Denholtz Associates. Terms of the lease were not disclosed.
RICHMOND, TEXAS — Delaware-based PGS Onshore, Inc., has sold an 18,000-square-foot manufacturing facility in Richmond to a private investor. The property is located at 15637 Ennis Rd. John Simons, Michael Palmer and Steve Hesse of CB Richard Ellis (CBRE) represented the seller.
TRACY, CALIF. — US Industrial REIT III, an affiliate of USAA Real Estate Company, has purchased a 657,600-square-foot Class A bulk distribution facility in Tracy. Home Depot USA Inc. currently occupies the facility on a 15-year lease. The facility, a rapid deployment center, features a tri-load design and more than 400 secured and lighted trailer positions. Additional details regarding the transaction were not disclosed.
CHATSWORTH, CALIF. — Chase Nordhoff LLC has completed the disposition of an 18,151-square-foot industrial building in Chatsworth. Located at 21717 Nordhoff St., the property sold to an undisclosed buyer for $2.92 million. Michael LaRocque of DAUM Commercial Real Estate Services represented the seller; Bruce Simpson of Delphi Business Properties represented the buyer in the transaction.