MINNEAPOLIS — Minneapolis-based NorthMarq Capital has arranged a $27.05 million loan for a four-property, cross-collateralized portfolio of industrial properties. Totaling 517,240 square feet the properties include 9600 and 9700 West 76th Street in Eden Prairie, Minn.; 1908-2000 Innerbelt in Overland, Mo.; 2325 – 2375 Camino Vida Roble in Carlsbad, Calif.; and 20700 Denker in Torrance, Calif. Major tenants in the properties include Digital River, Build-A-Bear, Sanko Electronics America and Hanna Water Holdings. Financing terms were based on a 10-year term with a 25-year amortization schedule. NorthMarq arranged the financing for the borrowers, affiliates of First Industrial Realty Trust, through its correspondent relationship with National Life Insurance Co. NorthMarq’s Jeff Frankel, Jim Hoopes, Eric Flyckt, Jeff Chaney, David Garfinkel and Rob Hervey brokered the transaction.
Industrial
FAIRLESS HILLS, PA. — CSC Sugar has signed a lease for a 161,000-square-foot industrial facility located within Fairless Hill's Keystone Industrial Port Complex. The company plans to use the facility, located on the former site of a U.S. Steel plant, as a sugar refinery. Rick Leighton of NAI Global joined with Jeff Licht, Adam Lashner and Fred Myers of local affiliate NAI Mertz to represent the landlord. The tenant signed for a 5-year term.
SAVAGE, MD. — Hanna Paper Recycling has renewed its 58,825-square-foot warehouse lease at 8840 Greenwood Place in Savage. Cassidy Turley's Michael Bosica represented Hanna Paper. Ryan Commercial's Matt Ryan and Tom Whelan represented the landlord.
GLENDALE, WIS. — General Plastics Inc. has signed a lease for 7,200 square feet of industrial space in Glendale. The property is located at 6631 and 6633 N. Sidney Place. Brian Parrish, Samuel M. Dickman Jr. and Samuel D. Dickman of The Dickman Company brokered the transaction. The landlord is Glendale Business Center LLC. Terms of the lease were not disclosed.
IRVING, TEXAS — KBS Real Estate Investment Trust II has purchased the 400,123-square-foot Dallas Cowboys Distribution Facility from a private seller for an undisclosed price. Located at 2500 Regent Blvd. in Irving, the 1-year-old property is fully occupied by Dallas Cowboys merchandising firms. CB Richard Ellis' Jack Fraker and Josh McArtor represented the seller, and KBS was represented internally.
RICHMOND, VA. — Bigge Crane & Rigging has purchased a 20,000-square-foot warehouse from Speight for $1.7 million. The property is located at 2350 and 2400 Maury St. in Richmond. Bigge will use the property as its new East Coast headquarters. Thalhimer's Franklin Bell brokered the sale.
LAKELAND, FLA. — An undisclosed national bank has sold the 59,102-square-foot Highlands Storage to a private party for $1.25 million in an REO sale. The property is located at 4733 Exploration Ave. in Lakeland. Michael Mele of Marcus & Millichap's Tampa, Fla., office brokered the sale.
MILWAUKEE — Brian Parrish of The Dickman Company has completed two sales totaling 24,330 square feet in Milwaukee. In the first transaction, 13TH4828 LLC acquired a 12,830-square-foot industrial property, which is located at 4828 S. 13th St. in Milwaukee. Hartmann Properties sold the building for $475,000. Parrish represented both parties in the transaction. In the second deal, Parrish represented Seeds of Health in the acquisition of an 11,500-square-foot office building, located at 131-141 S. 1st St. in Milwaukee. The buyer plans to convert the property into a virtual school, which will be ready for occupancy in this fall. JRB VII LLC sold the property for an undisclosed price. Marianne Burish of Siegel-Gallagher represented the seller in the transaction.
SARASOTA, FLA. — MyUS.com has leased 60,000 square feet of warehouse space from Meridian Development Group in the firm's 1 million-square-foot Meridian Distribution Center. The tenant's space at the Sarasota property allows it to occupy 40,000 additional square feet. The move, which is a consolidation of two existing locations, brings 60 new jobs to the county. Ian Black Real Estate's Steve Horn represented MyUS.com. Cushman & Wakefield's Tim Callahan represented the landlord.
ORANGE, CALIF. — Grubb & Ellis has arranged the $22.2 million sale of a 246,732-square-foot headquarters/distribution building located at 2164 N. Batavia St. in Orange. The building features nearly 36,000 square feet of Class A office space and approximately 210,000 square feet of state-of-the-art warehouse space. Grubb & Ellis’ Jeff Read and Greg Osborne represented PPF Orchard Industrial 2164 Batavia LLC in its sale of the office/warehouse property to Frick Family Properties LLC, which was represented by Cresa Partners’ Brian Bennett. FFP LLC, doing business as Paper Mart, purchased the property for its corporate headquarters and the storage/distribution of packaging-supply products.