HILLSBOROUGH, N.J. — Bluestar Direct has signed a 13,500-square-foot industrial lease expansion in the Northern New Jersey community of Hillsborough. The wholesaler of various food products is expanding from a 5,000-square-foot space at the 596,315-square-foot Hillsborough Business Center, where it has been a tenant since 2020. Victor Kelly represented the landlord, Larken Associates, in the lease negotiations on an internal basis.
OKLAHOMA CITY — TruCore Investments, a Tulsa-based firm specializing in Class B industrial deals, has acquired a 142,115-square-foot property in Oklahoma City in a sale-leaseback with an undisclosed tenant. The building sits on 8.5 acres at 13131 Broadway Extension. According to LoopNet Inc., the property was originally built in 1979 and features 22-foot clear heights and 12 dock-high loading doors. Rusty Smith and Allan Meadors of Cushman & Wakefield brokered the deal. TruCore plans to implement a value-add program.
PEABODY, MASS. — Colliers has arranged a $52.7 million loan for the refinancing of a 370,000-square-foot industrial property in Peabody, a northern suburb of Boston. The building is located within the Centennial Park development and houses the headquarters of an undisclosed e-commerce retailer. Barings provided the financing to a partnership between two Boston-based firms, Oliver Street Capital and Bain Capital Real Estate. The partnership plans to expand the property by 82,790 square feet, and the loan includes construction proceeds for that endeavor. John Broderick and Patrick Boyle led the debt placement efforts for Colliers.
LYONS, GA. — Oxford Industries Inc., an Atlanta-based clothing and apparel manufacturer whose brands include Tommy Bahama and Lilly Pulitzer, plans to develop a new large-scale distribution center in Lyons, a South Georgia city in Toombs County. The company will invest $130 million in the first phase of the project, which will sit on 50 acres and support 60 new jobs at full completion. Oxford Industries is an international apparel design, sourcing and marketing company that features a portfolio of lifestyle brands, over 300 company-owned retail stores and an e-commerce business. The company also has a complementary wholesale business through department and specialty stores. The manufacturer has had a physical presence in Toombs County since the 1940s. With the new Lyons facility, Oxford Industries expects to boost output from 7 million units annually to 20 million units. The construction timeline was not disclosed.
CONOVER, N.C. — JLL has arranged the sale of BSN Medical Distribution Facility, a 149,987-square-foot industrial property located at 1011 Keisler Road in Conover, about 44 miles northwest of Charlotte via N.C. Highway 16. Pete Pittroff, Dave Andrews, Josh McArdle, Michael Scarnato and Allan Parrott of JLL represented the seller, Founders Properties LLC, and procured the buyer, Diamond Properties. The sales price was not disclosed. The tenant, BSN Medical Inc., has more than five years of lease term remaining at the facility. The property was renovated in 2009 and features rear- and side-load configurations, 27 dock-high doors and 82 parking spaces spanning 17.2 acres, which provides potential expansion capacity at the site.
LAKEVILLE, MINN. — RL Cold, a division of RealtyLink LLC, has begun development of a 292,000-square-foot cold storage facility in the Minneapolis suburb of Lakeville. The project team includes general contractor Graycor Construction Co. and architect Ware Malcomb. The development will be situated within the 205-acre Airlake Industrial Park, which is located four miles from I-35 and 20 miles from Minneapolis. The project will feature advanced refrigeration technology, storage capacity for perishable items, a clear height of 50 feet, 70-foot-deep truck dock, up to 34,000 pallet positions, 98 employee parking spots, 61 truck spots and 38 truck dock doors. The project will be U.S. Green Building LEED certified. Completion is slated for spring 2025.
LOS ANGELES — Captiva Partners has purchased a multi-tenant, small-bay industrial building in the North Hollywood neighborhood of Los Angeles for $15.7 million. The name of the seller was not released. Situated on 3.3 acres at 8210-8222 Lankershim Blvd., the 66,400-square-foot asset offers three buildings with 41 suites ranging from 1,200 square feet to 2,400 square feet. Captiva plans to implement a value-add business plan, including a capital improvement program that will address deferred maintenance and improve the property’s functionality and attractiveness.
GOODYEAR, ARIZ. — NAI Horizon has arranged the purchase of an industrial property located at 2760 S. La Luna in Goodyear, a suburb of Phoenix. Packing Solutions for Any Product (PSAP) acquired the asset from Waddell-based A1 Desert Investments for $4.7 million. Built in 2022, the freestanding general industrial office and warehouse facility offers 12,052 square feet of space. Headquartered in Guadalajara, Mexico, PSAP operates 13 manufacturing facilities throughout Mexico and the United States. Jeffrey Garza Walker of NAI Horizon represented the buyer, while Chris Toci of Cushman & Wakefield represented the seller in the deal.
TAYLOR, TEXAS — Marcus & Millichap has brokered the sale of Windmill Mini Storage, a 256-unit self-storage facility in Taylor, a northeastern suburb of Austin. The facility sits on 2.2 acres and spans 33,600 net rentable square feet of non-climate-controlled space. Jon Danklefs and Arol Horkavy of Marcus & Millichap represented the undisclosed seller in the transaction. Horkavy also procured the buyer, a limited liability company that also requested anonymity.
MELVILLE, N.Y. — A joint venture between Creation, a developer with offices in Phoenix and Dallas, and J.P. Morgan Asset Management has sold Baylis 495 Business Park, a 103,500-square-foot industrial facility located in the Long Island community of Melville. Miami-based REIT BentallGreenOak purchased the property for $44 million. The eight-acre site is located about a mile south of the Long Island Expressway, and the building features a clear height of 32 feet, 20 dock doors and two drive-in bays. Marc Duval, Jordan Avanzato, Jason Lundy, Nicholas Stefans, Jose Cruz and Steve Simonelli of JLL brokered the deal. At the time of sale, Baylis 495 Business Park was fully leased to Keurig Dr. Pepper.