DALLAS — Colorado-based Mountain West Industrial Properties has acquired Northgate III Business Center, a three-building distribution center located in the Northeast submarket of Dallas. The property totals 161,729 square feet and was 75 percent occupied at the time of closing. Mountain West plans to renovate the property’s vacant units in order to better attract prospective tenants. The company has named Stephen Cooper of locally based NAI Robert Lynn to lease the project. The sale was negotiated by Larry Leon of CB Richard Ellis. It marks Mountain West’s second acquisition in the city.
Industrial
MESA, ARIZ. — Wichita, Kan.-based Hawker Beechcraft has completed the first phase of its newest maintenance facility at Phoenix-Mesa Gateway Airport in Mesa. The 26,000-square-foot facility will accommodate maintenance needs of customers and serve as the company’s southwest regional service center. The second phase includes an additional 26,000-square-foot hangar and 22,000 square feet of administrative office space.
BARNWELL COUNTY, S.C. — Greer, S.C.-based InSite Consulting has finalized a site selection assignment for Pittsburgh-based Horsehead Corp.’s $87 million facility in Barnwell County. The property will serve as a recycling point for electric arc furnace dust. The facility, which will be Horsehead’s seventh in the United States, will generate at least 65 new jobs. The property is expected to be fully operational by mid-year.
HUNT VALLEY, MD. — Pharmaceutics International has purchased a 72,200-square-foot warehouse from First Industrial Realty Trust for an undisclosed amount. The property, located at 10947 Golden West Rd. in Hunt Valley, features 25,000 square feet of office space. Richard F. Blue, Jr., and Paul F. Obrecht, III, of Timonium, Md.–based Blue & Obrecht Realty represented the seller. Gail Chrzan of CB Richard Ellis’ Baltimore office represented the buyer.
CHARLESTON, S.C. — Shoreline Partners II has sold a 50,000-square-foot warehouse to Charleston Regional Investments for $7.35 million. The warehouse is located at 2325 Charleston Regional Parkway in Charleston. Milton Thomas, III, of Charleston-based Anchor Commercial Real Estate Services represented the seller. The local firm Norvell Real Estate Group represented the buyer.
LIVONIA, MICH. — NYX Inc. has signed a lease for approximately 252,262 square feet of industrial space located at 36667 Schoolcraft Rd. in Livonia. KIN Properties leased the space to automotive supplier NYX Inc., which will use the facility for manufacturing of injection model parts. Gregg Loichinger, Peter Rogers, Randall Allman, Chuck Ginster and Joe Hauska of CB Richard Ellis Detroit represented the landlord in the transaction. Financial terms of the lease were not disclosed.
MORRISVILLE, PA. — Jackson Cross Partners (JCP) has arranged the sale of a 35-acre industrial complex located at 21 S. Steel Rd. in Morrisville. The property contains six buildings totaling more than 110,000 square feet. It is rail served, and is located adjacent to the Keystone Industrial Port Complex, which provides barge service on the Delaware River. Jim Scott and Lou Battagliese of JCP represented the buyer, Liberty Coating Company, a tenant of the property. The seller was United States Steel Corp., which was represented by Rick Leighton of NAI. The acquisition price was not disclosed.
YORK COUNTY, PA. — NorthMarq Capital has arranged $10.67 million in first-mortgage financing for a 452,000-square-foot, single-tenant manufacturing facility located in York County. The non-recourse loan includes a 70 percent loan-to-value ratio, and was originated by Greg Nalbandian of NorthMarq’s New Jersey office and Stephen Bye of the firm’s Denver office. The borrower was an undisclosed REIT and the lender was a regional bank.
RICHARDSON AND CARROLLTON, TEXAS — The Dallas office of Holliday Fenoglio Fowler (HFF) has brokered the sale of a four-property Texas industrial portfolio. The properties total 248,279 square feet, and they are located in the Dallas suburbs of Richardson and Carrollton. They include: 400 Industrial Drive North and South, two buildings in Richardson that total 77,790 and 62,181 square feet, respectively; a 61,998-square-foot building located at 1030 Trend Dr. in Carrollton; and a 46,310-square-foot building located at 1101 Venture Ct., also in Carrollton. HFF’s Jud Clements and Robby Rieke represented the seller, RREEF Real Estate. The portfolio was acquired by a Dallas-based investment partnership for an undisclosed amount.
OLATHE, KAN. — The United States division of Sun Life Financial has purchased 200 acres of land located at the southwest corner of 151st Street and Old 56 Highway in Olathe. The property was acquired for the phased development of bulk industrial buildings totaling approximately 2.9 million square feet. The purchase is part of Sun Life Financial’s approximately $1.28 billion U.S. real estate investment portfolio totaling 130 properties. Deborah Tirone of Sun Life Financial represented the company in-house in the acquisition. Financial terms of the deal were not disclosed.