SALT LAKE CITY — CBRE Debt & Equity Finance has arranged $9 million in permanent financing for Landmark II, a 213,334-square-foot industrial facility located in Salt Lake City. Terms of the first mortgage include 25-year amortization and 3-year term at 6.25% with two 1-year extension options. Ray Walker and Doug Birrell of CBRE Debt & Equity Finance arranged the funding.
Industrial
MONEE, ILL. — Principle Construction Corp. has completed a new 431,000-square-foot speculative industrial facility, located at 25810 S. Ridgeland Ave. in Monee. The building is situated on 24 acres within Bailly Ridge Corporate Center, a 412-acre, master-planned business park. The distribution/warehouse building features cross-docking capability, 32-foot clear ceiling heights, 10,000 square feet of office space, 40 docks and 46 trailer parking stalls. The facility is also expandable up to 84 docks and 92 trailer parking stalls. The developer of the project is Mokena, Ill.-based Location Finders International. Principle provided design/build services, with Dobrin & Associates providing architectural services.
HIALEAH, FLA. — Xpress Global Logistics has signed a 96,395-square-foot industrial lease with Boston-based TA Associates Realty. Terms of the lease were not released. The warehouse is located at 5959 N.W. 37th Ave. in Hialeah. Brian Smith of Cushman & Wakefield’s Miami office represented the landlord.
CHICAGO — The Chicago Regional Facility for the Federal Bureau of Investigations has received Platinum-level certification for the U.S. Green Building Council’s LEED for Existing Buildings: Operations & Maintenance (EBOM) program. The building is the first LEED: EBOM project to achieve Platinum certification in the nation. The project was overseen by USAA Real Estate Co.
WHITEHALL TOWNSHIP, PA. — Allentown, Pa.-based Summit Management & Realty has negotiated the leasing of 40,000 square feet of warehouse space within Riverside Business Center, located in Whitehall Township. Bell Nursery, a wholesale production nursery based in Maryland, will occupy the space. The new location allows the nursery to be the exclusive provider of plans for The Home Depot’s Pennsylvania and New Jersey stores. Tyler Chomik of Summit represented the landlord, Washington, D.C.-based Cafritz Interests. Riverside Business Center, formerly a manufacturing facility for Tarkett, was acquired by Cafritz and redeveloped for multi-tenant use. There are currently 130,000 square feet of warehouse and office space remaining for lease.
FORT WORTH, TEXAS — Q-Edge, an electronics assembly and distribution company, has signed a lease for 365,440 square feet of space within Alliance Global Logistics Hub in Fort Worth. The company will lease space within Alliance Gateway 2, a 423,992-square-foot industrial facility located at 5650 Alliance Gateway Freeway. The company will use the space as an assembly and distribution center. Trace Elrod and Reggie Beavan of Jackson Cooksey represented Q-Edge in lease negotiations. The owner, Hillwood Properties, was represented in-house by Bill Burton and Tony Crème. Alliance Global Logistics Hub is an industrial component of AllianceTexas, a 17,000-acre master-planned development located in Fort Worth.
LULA, GA. — Daniel’s Charters has purchased a 77,300-square-foot facility, located at 4336 Cornelia Highway in Lula, from Mountain Valley Community Bank for $2.82 million. The buyer will house its escorted tour operation, Daniel’s Discovery Tours, in the building. Scott Clayton of Atlanta-based Lavista Associates represented the buyer.
POMPANO BEACH, FLA. — Marshall Smith of Thomas D. Wood & Co. has secured a $3 million loan for the 118,217-square-foot Pompano Merchandise Mart industrial project. The three-building property is located at 2099 and 2101 W. Atlanta Blvd. in Pompano Beach. Southern Farm Bureau Life Insurance Co. provided funding for the 5-year, non-recourse loan. The loan carries a 6.5 percent interest rate and a 25-year amortization schedule.
MINNEAPOLIS — NorthMarq Capital has arranged $3.1 million in first-mortgage financing for Mid City Industrial Buildings, located in Minneapolis. The properties total 89,280 square feet and are located at 721-731, 724-740 and 771-783 Harding St. The loan includes a 5-year term with a 30-year amortization schedule. James Hoopes with NorthMarq’s Minneapolis office originated the loan on behalf of the undisclosed borrower through a correspondent lender.
AVONDALE, ARIZ. — Crescent Avondale LLC has acquired an 11,054-square-foot industrial property, which is located at 961 Eliseo Felix Way in Avondale. Situated on 3.93 acres, the property sold for $4.1 million. Thomas Semancik of Coldwell Banker Commercial Metro Central represented the buyer; Mark Phillips of Sperry Van Ness represented the seller, VJ Avondale LLC, in the transaction.