MISHAWAKA, IND. — The Chicago downtown office of Marcus & Millichap has arranged the sale of a 78,000-square-foot industrial facility located at 520 S. Byrkit in Mishawaka. A limited liability company has sold the building to an undisclosed partnership for $2.5 million. The facility is fully leased to Actuant for a 7-year term, with a rent increase after 5 years. John Abuja and Raymond Sansonetti of Marcus & Millichap represented both the buyer and seller in the transaction.
PHOENIXVILLE, PA. — GVA Smith Mack has brokered the sale of a 35,000-square-foot industrial building located at 500 Schell Lane in Phoenixville. Neil Shupak and Justin Bell of GVA represented the seller, AWC Properties, which is run by the principals of Allied Wire & Cable, the building’s tenant for the past 6 years. Leonard Redeyoff of CB Richard Ellis represented the buyer, Innovative Print & Media Group, which will use the facility to consolidate its administration and distribution departments. The acquisition price was not disclosed.
NEW YORK CITY — Brooklyn, New York City-based Kalmon Dolgin Affiliates (KDA) has arranged the sale of a 5,000-square-foot warehouse, located at 1051 Wyckoff Ave. in the Ridgewood neighborhood of Queens, New York City, for $1.22 million. The property features 18-foot clear ceiling heights, heavy power capability and two drive-in doors. The buyer was Richard Kostelanetz, who plans to use the property as an artist’s studio for printing, publishing and storage. The buyer was represented by KDA’s Jean Cook. The seller, B.M.D. Sportswear, was represented by Dmitri Gourianov, also of KDA.
FRANKLIN, WIS. — Colliers Barry has brokered the $6.8 million sale/leaseback of a multi-tenant industrial facility located at 4659 W. Basswood Dr. in Franklin. The 126,000-square-foot facility is situated within the Franklin Business Park. CR Franklin LLC has purchased the fully-leased building from Yellow Rose Enterprises. The seller plans to invest the proceeds from the sale into its business operations. Kevin Barry of Colliers Barry represented Yellow Rose Enterprises in the transaction.
HOUSTON — Houston-based Live Oak Capital has arranged an approximately $8.5 million, fixed-rate loan for the refinancing of Central City, a 66-acre industrial park located at 5301 Polk St. in Houston. The multi-tenant property comprises 20 buildings ranging in size from 5,000 to 138,000 square feet. The park totals approximately 1 million square feet and was 92 percent occupied at the time of closing. Rob LaRue of Live Oak arranged the financing between the borrower, locally based Pelec Central City, Ltd., and the borrower, Ohio National Life Insurance Co.
COMMERCE, CALIF. — Newport Beach, Calif.-based Western Realco is developing Randolph Business Center, a $40 million distribution facility located at 5959 Randolph St. in Commerce. The 400,000-square-foot facility will feature 30-foot clear heights, an ESFR, 59 dock-high loading spaces, skylights, 356 on-site parking spaces, a 165-foot deep secured service yard and the ability to accommodate up to 10,000 square feet of office space. Tustin, Calif.-based Bastien and Associates Inc. is providing architectural services for the project, which is slated for completion in May 2009. Whittier, Calif.-based Oltmans Construction Co. is serving as general contractor.
STOCKTON, CALIF. — Opus West Corp. has completed the first phase of Opus Logistics Center – Stockton (OLC). Located on 474 acres in central Stockton, the completed phase offers two speculative buildings comprising approximately 388,000 and 736,000 square feet. The facilities feature cross-dock loading areas, 32-foot clear heights, ESFR fire sprinklers, and ample truck and trailer parking. The site is also a State Enterprise Zone and a Foreign Trade Zone. When complete, the industrial campus will consist of approximately 13 build-to-suit and spec buildings totaling more than 8.2 million square feet. Opus West Architects & Engineers and Ware Malcomb are serving as architects for OLC; Opus West Construction Corp. is serving as general contractor.
DEERFIELD BEACH, FLA. — Doral, Fla.-based The Easton Group has purchased a 120,000-square-foot warehouse from Graebel/South Florida Movers for $9.6 million in a sale lease-back transaction. The 5-year-old building, located at 2900 S.W. 15th St. in Deerfield Beach, sits on 8.84 acres. State Farm Life Insurance Co. provided financing for the deal.
BETHLEHEM, N.Y. — CB Richard Ellis (CBRE) has brokered the sale of an approximately 450,000-square-foot warehouse/distribution facility, located in Bethlehem, for $10 million. The facility is situated on approximately 29.5 acres at 218 W. Yard Rd. Richard Sleasman and Don Noland of CBRE’s Albany, N.Y., office negotiated the transaction between the buyer, McNeary Inc. and the seller, NY Realty Partners.
MAHWAH, N.J. — Morristown, N.J.-based The Hampshire Companies has acquired a 91,388-square-foot industrial flex building located within Mahwah Technical Park II at 10 Industrial Ave. in Mahwah. Fully occupied at the time of closing, the building is tenanted by Polytype America, Janome America, New Concept Press, LS Advertising Co. and Scanpan USA. The property was purchased from EWE Warehouse Investments for an undisclosed amount. Hampshire made the acquisition on behalf of The Hampshire Generational Fund, one of the company’s private equity real estate investment funds.