YORK, PA. — York-based ROCK Commercial Real Estate has brokered the sale of a 7,100-square-foot industrial property located at 31-33 S. Seward St. in York. The property was acquired by York Habitat for Humanity. ROCK represented both parties in the transaction. The acquisition price was not disclosed.
DENVER — Denver-based ProLogis has closed a $104.7 million secured financing on behalf of an affiliate of ProLogis North American Industrial Fund II. The 10-year loan has a coupon of 6.38 percent and represents a loan-to-value of approximately 58 percent on five geographically diverse U.S. industrial properties. The company will use the proceeds to refinance a $62 million secured debt facility, which was set to mature January 2009, and pay down $42 million of the Citi bridge debt facility. These actions will reduce 2009 maturities in the fund by approximately $104 million.
ORLANDO, FLA. — MAS Cos. has purchased the 81,000-square-foot 8350 Parkline Regional Airport Center from West Palm Beach, Fla.-based McCraney Property Co. for $11.25 million. The sale of the Orlando industrial building also included an additional 6.4 acres of vacant land. NAI Realvest’s George Livingston and Christy Alexander represented the buyer, and David Murphy of CBRE Orlando represented MAS Cos.
INDIANAPOLIS — CB Richard Ellis has brokered the sale of a 487,909-square-foot warehouse/distribution facility located at 5201 West 86th St. in Indianapolis. The building, which formerly housed the Midwest regional distribution center for TruServ/True Value Hardware, is situated on a 16-acre site adjacent to Park 100 Business Park. Cordell 5201 Indiana LLC sold the property to Harlan 86th Street LLC for an undisclosed amount. Harlan Bakeries will occupy the building, and has plans to remodel the facility. Mark Writt and Tom Cooler in the Indianapolis office of CB Richard Ellis represented the seller; Unique Realty Inc. represented the buyer in the transaction.
DUPO, ILL. — On behalf of Kuna Foodservice, Fenton, Mo.-based Kadean Construction Co. has completed an office/distribution center located within the South Point Commerce Center in Dupo. The 89,200-square-foot concrete, tilt-up facility consists of 76,500 square feet of warehouse and dock space, as well as a 12,700-square-foot office component. The warehouse includes a 16,300-square-foot freezer and a 3,400-square-foot USDA processing area. As part of the $11 million project, Kadean also completed sitework/infrastructure for the new business park, and a new road and utilities for future buildings at the park. Kuna Foodservice is currently the only occupant within the recently completed park. Hanover, Mass.-based Foodtech Structures was the architect for the project, which began in August 2007.
FREMONT, MILPITAS AND SAN JOSE, CALIF. — Boston-based International Real Estate Corp. has acquired an 800,000-square-foot industrial portfolio, which spans Fremont, Milpitas and San Jose. Milpitas Industrial Properties Inc. sold the portfolio for $68 million or approximately $85 per square foot. The center is currently 94 percent occupied by tenants, including Kraft Foods, Flextronics Inc. and Loomis Fargo & Co. Joe Moriarty, Bob Gilley and Steve Hermann of CB Richard Ellis brokered the transaction.
GRIFFIN, GA. — Milner, Ga.-based Ranew’s Cos. has broken ground on a 60,000-square-foot warehouse on Boyd’s Crossing Road in Griffin. The property will serve as a painting facility for Caterpillar, which is located across the street at Green Valley Industrial Park. The $5 million Ranew’s property is expected to create 50 new jobs. Delivery is set for the third quarter of next year.
NAPERVILLE AND WARRENVILLE, ILL. — Charles Canale and Brian Kling of Colliers Bennett & Kahnweiler have represented Burgess Enterprises in the acquisition of two parcels of land located along the south side of Ferry Road in Naperville and Warrenville. The Naperville property consists of a 38-acre parcel, which was sold by Hartz Construction; the adjacent Warrenville property consists of a 7-acre parcel, which was sold by Paul Swanson & Associates. Hartz Construction was represented in-house, while Paul Swanson & Associates was represented by Joseph Dvorak of Colliers Bennett & Kahnweiler in the transaction. Burgess Enterprises has purchased the properties to construct the master-planned High Point of Naperville industrial park. The LEED-certified project, which will break ground in the spring, will consist mostly of speculative office, warehouse and commercial condo components. The acquisition prices for the properties were not disclosed.
HOUSTON — The Woodlands, Texas-based Biofuels Power Corp. has agreed to purchase the decommissioned H.O. Clarke Electric Generating Station, located at the intersection of Main Street and Hiram Clarke Road in Houston. The acquisition will include the 79-acre site, as well as all of the remaining infrastructure and equipment, which includes 65,000 barrels of aboveground storage tanks and a high-pressure natural gas pipeline that is connected to the distribution system. The power station, which was constructed in the 1940s, was decommissioned in 2004. At the time, the station’s gas-fired turbines were also removed. Biofuels Power Corp. plans to redevelop the site into a clean energy industrial park that will provide power to tenants by way of biofuels, biomass, natural gas, biogas and solar energy. The deal is expected to close by the end of the year. The construction timetable for the redevelopment was not disclosed.
DAVENPORT, FLA. — Addison, Texas-based Mattress Giant has leased 83,864 square feet of space in the 396,740-square-foot Park 27 Distribution Center II from an undisclosed party for $5.4 million. Mattress Giant has made Park 27, located on Deen Still Rd. in Davenport, the distribution center for its 123 retail stories throughout Florida. The building, located in the 1.2 million-square-foot Park 27 Distribution Center, is 92 percent leased. York Property Co.’s Jeff York and Dallas-based Jackson & Cooksey’s Reggie Beavan represented Mattress Giant. Kyle Armentrout of Duke Realty represented the landlord.
