YONKERS, N.Y. — The Yonkers Industrial Development Agency (YIDA) has finalized incentive packages for two development projects in the city. The first project consists of the renovation of the former Tyco building, a 50,000-square-foot industrial property located at 78 Fernbrook St. Upon completion, the building will house the manufacturing and warehousing operations of Hudson Scenic Studio, a stage production and design company that is currently located at 130 Fernbrook St. The project is expected to cost $2.66 million. Financial assistance from the city included bond issuance, a sales and usage tax exemption for construction materials and equipment, and a structured property tax agreement. The second project is the $47 million first phase of the renovation of Grant Park Apartments. The affordable housing project is situated on a 12-acre site that formerly contained the Mulford Gardens public housing development. Phase I of the project will include the construction of 100 units in a mix of one-, two-, and three-bedroom apartments and townhomes. Additional construction will include several pocket parks and two community buildings. Ultimately, the project will contain 240 units and is expected to cost approximately $109 million. The project is being undertaken by Richman Group Development Corp. and Landex Development …
HOUSTON AND HUMBLE, TEXAS — CB Richard Ellis (CBRE) has completed three leases in the Houston metro area. First, Houston-based Greenstar Recycling signed a lease for 18,900 square feet of warehouse space at 4789 Eastpark Dr., located in northeast Houston. Patrick Rollins of CBRE represented the tenant. The landlord, First Industrial Realty Trust, was represented by Blake Gibson of Colliers International. In addition, Stoneland Global Logistics signed a lease for 10,140 square feet of warehouse space within Kenswick Airfreight & Logistics Centre, located at 19051 Kenswick Dr. in the northern suburb of Humble. Rollins represented the landlord, LIT Industrial Texas LP. Tiffany Sebastian of ReMax NW represented the tenant. Finally, LandAmerica Charter Title Co. renewed its lease for 17,579 square feet of office space at the Whitney Bank Building, located at 4265 San Felipe St. in Houston’s Post Oak Park submarket. CBRE’s Kristen Rabel, Steve Rocher and Louann Orlando represented the landlord, BMS Management.
HAYWARD, CALIF. — Wig America has purchased two 36,000-square-foot distribution buildings in Hayward. Located at 27317 and 27279 Industrial Blvd., the properties sold for $5.5 million. This transaction marks the largest owner/user sale to date this year in Hayward. Jesse Lucas of Lee & Associates Commercial Real Estate’s Oakland, Calif., office represented the buyer; Bt Commercial represented the seller, LRF Properties, in the transaction.
ESCONDIDO, CALIF. — The Carlsbad, Calif., office of Lee & Associates-North San Diego County has brokered the sales of two industrial properties in Escondido for a combined consideration of approximately $3.22 million. In the first transaction, Isaac Little and Randy Dalby of Lee & Associates represented The Gary D Vest Revocable Trust in the disposition of a 7,020-square-foot industrial building, which is located at 1134 Industrial Ave. Joe Crotty of Coldwell Banker Commercial represented the buyer, Bennet Glass, in the $1.02 million acquisition. In the second transaction, 1011 Andreasen LLC purchased an 18,830-square-foot industrial building located at 501 S. Andreasen Dr. for $2.2 million. Adam Robinson, Tom Blackmore and Tim Arguello of Lee & Associates represented the buyer and the seller, Paul Ostrowiecki, in the transaction.
CHULA VISTA, CALIF. — Newmark Realty Capital has arranged $4.3 million in permanent financing for South City Business Center in Chula Vista. Situated in San Diego County, the 168,000-square-foot multi-tenant industrial park comprises six buildings. Thomas Dudley of Newmark Realty arranged the financing for the 10-year loan. Additional terms of the loan were not disclosed.
ORLANDO, FLA. — Portable On Demand Storage has leased 60,087 square feet in Duke Realty Corp.’s 187,513-square-foot Crossroads VIII distribution center. PODS will occupy the space, located at 601 Gills Dr. in Orlando’s Crossroads Business Park, in August. Duke’s Tim Perry represented the company, and PODS was represented internally.
ST. JOSEPH, MO. — Kansas City, Mo.-based Grubb & Ellis | The Winbury Group has arranged the sale of a 141,286-square-foot industrial property, located at 2315 SW Lower Lake Rd. in St. Joseph. Douglas Hedrick and John Delzer of Grubb & Ellis represented the seller, Smurfit-Stone Container Enterprise. Adam Stein of Prudential Summers represented the buyer, STJOMO Properties. The acquisition price was not disclosed.
BELLEVILLE, ILL. — Fairview Heights, Ill.-based IMPACT Strategies has broken ground for the construction of a 36,650-square-foot office/warehouse facility, located in Belleville. The $2.25 million project will be built within Belle Valley Business Park; it will be situated on the last available land parcel in the park’s third addition. Slated for completion in December, the flex building will be occupied by Power Maintenance & Construction, which will be relocating from its existing Belleville facility. The project architect is Gray Design Group.
DANVILLE, ILL. — UGL Equis has completed a lease for 50,000 square feet of warehouse space at 1801 E. Voorhees St. in Danville. Locally based Dawson Logistics will be consolidating its Hoopeston, Ill., operations into the new space. Dawson will share space within the 344,900-square-foot building with one of its clients, Owens Corning. The facility features rail access, 24- to 36-foot clear ceiling heights, overhead cranes and 19 exterior docks. Michael Cook of UGL Equis represented the tenant in lease negotiations. The landlord, Pinnacle Properties, utilized in-house representation.
LA VERGNE, TENN. — A.O. Smith Electrial Products Co. has extended its lease agreement with ProLogis for the 188,000-square-foot Interchange City Distribution Center Building 17. The property is located near the intersection of Interstate 24 and Waldron Road in La Vergne. The landlord is planning to outfit the warehouse with sustainable T5 lights. Additional tenants in the 3.5 million-square-foot distribution center include Singer Sewing Co. and Cardinal Health.