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.
PHOENIX — Sperry Van Ness has negotiated the $3.88 million acquisition of a 77,778-square-foot warehouse located at 824 E. University Road in Phoenix. Represented by Sperry Van Ness’ Adam Lopez, Majik Ventures & Zhongya Shaped Aluminum purchased the centrally located distribution facility from RGR Development Corp., which was represented by CB Richard Ellis’ Pat Feeney.
CHARLESTON, S.C. — Gildan ActiveWear has purchased the 850,000-square-foot Mikasa Distribution Facility from American Commercial for $20 million. The property is located on 81 acres of land at 1980 Clement Ferry Road in Charleston. Charlie Moore and F. Daniel Batten of Charleston-based NAI Batten & Moore brokered the sale with the help of Thomas Turner, James Belcher and Don Moss of Southampton, Penn.-based Hart Corporation.
COPPELL, TEXAS — Samsung Telecommunications America has signed a lease for 261,025 square feet of industrial space at Point West VII in Coppell. The company plans to use the space for light manufacturing and distribution of its cell phones. The facility will become its largest cell phone distribution facility in the United States. Dave Anderson and Pat O'Keefe of CB Richard Ellis represented Samsung in lease negotiations. The landlord, Duke Realty Corp., was represented in-house by Randy Wood. Point West VII is a 756,577-square-foot industrial building located at 240 Dividend Dr. in Coppell. It features 32-foot minimum clear ceiling heights, 50-foot by 50-foot column spacing, 60-foot staging bays and a 180-foot truck court. Samsung's lease brings it to 83 percent occupancy.
REDFORD, MICH. — Dalmay North America Automotive has acquired a 213,368-square-foot industrial property in Redford. Located at 24400 Plymouth Road, the property sold for $3.42 million. Gary Glotzhober and Raffi Derbabian of Colliers International represented the seller, NL Ventures V Plymouth, in the transaction.
NEWBURYPORT, MASS. — The Kane Company's Anthony Triglione has brokered the $850,000 sale of a 15,000-square-foot warehouse in Newburyport. The building, which is more than 20 years old, is located at 6 Mulliken Way. Northeast Quality Products formerly occupied the space, which will now be used as a storage facility for Strem Chemical.
LEVELLAND, TEXAS — The City of Levelland has broken ground for the construction of a new $8.6 million industrial rail park. The 300-acre development will include 18 lots ranging in size from 2 to 20 acres. All lots will have direct access to the rail line. Four tenants have already expressed interest in the park, including Project Gorilla, Independent Electric, Eco Blue and Tex-Rail Commodities. Completion is scheduled for 2010. The project is being funded by $3.3 million in federal stimulus funds, $1.5 million from the Levelland Economic Development Corp. and $3.8 million in local bonds.