NEW JERSEY — David Cronheim Mortgage Corp. has arranged $40 million in financing for a four-building industrial portfolio owned by Hartz Mountain Industries. The portfolio totals 1.13 million square feet; the buildings were built between 1977 and 1990 and are located in Secaucus and other northern New Jersey cities. The non-recourse loan contains a 5-year term with a 25-year amortization schedule and a 6.65 percent interest rate. The lender is one of Croheim's correspondent insurance companies.
Industrial
HAUPPAUGE, N.Y. — Aeroflex Inc. has renewed its lease at Hauppauge Industrial Park. The company currently occupies an entire 50,489-square-foot building located at 350 Kennedy Dr. in Hauppauge. The new lease carries an additional 5-year term. Harry Stavro and Robert Stein of Rechler Equity Partners provided in-house representation for the landlord in direct negotiations with Aeroflex.
CARLSBAD, CALIF. — Johnson & Jennings General Contracting has a $2.18 million renovation project for a new 149,016-square-foot research/development, manufacturing and office facility for Alphatec Spine Inc., which is located at 5818 and 5830 El Camino Real in Carlsbad. The renovation project included construction of production space for research and manufacturing, development labs, Class 10,000 clean rooms and supporting mechanical yards. The project also included build-out of private and open office areas as well as an entry lobby featuring glass security walls, incorporating natural day lighting, energy-efficient lighting and new mechanical systems.
MIAMI — PPF Lincoln-Medley has leased more than 134,00 square feet in Building 300 at the 670,000-square-foot Lincoln Logistics Park to an undisclosed record-storage firm. With the lease, the tenant will occupy 82 percent of the building, which is located at 12646 N.W. 115th Ave. in Medley. Steven Medwin, Harry Wardell and Nick Wigoda of Lincoln Property Co. of Florida represented the landlord.
GAINESVILLE, GA. — Orbital Tool Technologies has signed a 50,000-square-foot lease with an undisclosed landlord for space in the Chicopee Industrial Complex. The property is located at 2250 Atlanta Highway in Gainesville. Gainesville-based Industrial Properties Group’s Drew Addison represented the landlord in the transaction. Addison also represented the landlord, Presco Properties, in its 35,000-square-foot warehouse lease with Specialty Rolled Metals. The property is located at 2545 Monroe Dr. in Gainesville. Prudential GA Realty’s Gary Allen represented the tenant.
Houston — Weingarten Realty has sold approximately 9.27 acres of the company’s ClayPoint Distribution Park to YHR Partners. YHR Partners purchased the parcel, which includes 200,850 square feet of recently developed improvements, on behalf of Spec’s Wines, Spirits & Finer Foods. ClayPoint Distribution Park is located northwest of downtown Houston on the corner of Clay Road and Hempstead Highway, and it includes 360,000 square feet of newly constructed warehouse space in addition to a 330,891-square-foot distribution facility that previously existed on the site. Mary Jo Giammalva of Weingarten Realty provided in-house representation for Weingarten in the transaction; Saverio Giammalva of Saverio Giammalva Properties represented Spec’s.
SANTA ANA AND TUSTIN, CALIF. — Surefire has acquired a 24,700-square-foot warehouse from The Leeder Family Trust for $2.8 million. Located at 2110 Anne St. in Santa Anna, the industrial building is near the Centennial Regional Park. Ted Sawyer and Darin McDonald of Lee & Associates represented the buyer. Mike Hefner of Voit Real Estate Services’ Anaheim, Calif., office represented the seller. Voit Real Estate Services’ Mitch Zehner and Louis Tomaselli represented the landlord, Juniper Properties, in its 55,291-square-foot lease to Advanced Components Specialist. The $4.2 million industrial lease is for space located at 15651 Mosher Dr. in Tustin. Wade Tift of Grubb & Ellis represented the tenant, who will occupy the space for 10 years.
PLANO, TEXAS — Henry S. Miller Brokerage (HSMB) has completed the sale of two Plano industrial buildings. The properties are located at 2710 and 2712 Rigsbee Dr. and total 22,000 square feet. Mark Hull and Mike Herzstein of HSMB represented the seller, Burns & Parks Painting. Randy Baird of Baird Fitzgerald represented the buyer, Wendell P. and Carol N. Keith Family Trust. The acquisition price was not disclosed.
CARROLLTON, TEXAS — Lee & Associates has brokered the sale of a 17,800-square-foot industrial property located in Carrollton. The building, which contains warehouse and showroom space, is located at 2561 Tarpley Rd. Nathan Denton and Hanes Chatham of Lee's Dallas-Fort Worth office represented the seller, International Motor Products. The buyer was Tarpley National LP.
MIAMI — Rigstar II Holding Corp. has acquired a 156,871-square-foot warehouse from First Industrial Realty Trust for $11.92 million in an all-cash purchase. The property, which has never been occupied, is located in Flagler Station at 10910 N.W. 92nd Terrace in Miami. Parvani Commercial Group’s Reshma Parvani represented the buyer. Michael Silver of CB Richard Ellis’ Miami office represented the seller.