NEW YORK CITY — Meridian Capital Group has arranged $60 million in financing for a mixed-use warehouse/office complex in the Long Island City area of Queens, New York City. The 500,000-square-foot facility is located at 33-00 Northern Blvd. and is currently leased to several city agencies and other tenants. Avi Weinstock and Seth Grossman of Meridian’s New York office arranged the loan on behalf of the undisclosed borrower. The loan was secured as a fixed-term loan with 2 years of interest only payments.
IRVING, TEXAS — Twinrose Development Co., on behalf of Twinrose Regent, has begun construction on two industrial buildings at Dallas/Fort Worth International Airport’s International Commerce Park in Irving. Twinrose Regent I, which is located at 2611 Regent Blvd., will comprise 265,500 square feet and feature a 30-foot clear height. Located at 2555 Regent Blvd., Twinrose Regent II will consist of 60,000 square feet and have a 24-foot clear height. The two buildings are scheduled for occupancy in December. Hillcrest Bank provided the construction loan for the Twinrose Regent project; Halff Associates is providing architectural services; and Bob Moore Construction is the general contractor.
EVERETT, WASH. — Los Angeles-based Covewood Manor LLC has acquired a 62,428-square-foot, Class A industrial building, which is located at 830 and 834 80th St. in Everett, for $8.85 million. At the time of acquisition, the property was fully occupied by triple-net tenants such as Diabold and Tyco. Barry Rothstein of NAI Capital’s Encino, Calif., office represented the buyer; Richard Peterson of NAI Puget Sound Properties represented the seller, Sound Venture Nine LLC, in the transaction.
ORLANDO AND PENSACOLA, FLA. — Members of San Antonio-based Parham Group, Noah’s Ark Development, Cross Metal Buildings and NDS Construction, have developed two self-storage facilities for Silver Springs, Md.-based Sunburst Hospitality Corp. and Noah’s Ark Self Storage in Orlando and Pensacola, respectively. In Orlando, East Colonial Self Storage was developed for Sunburst Hospitality Corp. The facility features 93,700 square feet and 641 units, ranging from 25 to 300 square feet. The property is located at 10280 E. Colonial Dr. In Pensacola, Noah’s Ark Self Storage opened an 80,000-square-foot facility featuring 688 units, ranging from 25 to 300 square feet. The property is located at 451 E. Cervantes St., near the downtown area, and will be operated by Joshua Management.
KNOXVILLE, TENN. — Eastland Capital has purchased the Silver Manufacturing Building, a 162,395-square-foot, 15.5-acre property in Knoxville, from Silver Properties, for $3.2 million. The facility is located at 2741 Hancock St. Bob Thornton of Knoxville-based Baker Realty Co. represented the seller, and the buyer was represented by Knoxville-based Herman Tallman Realty Executives.
COMSTOCK TOWNSHIP, MICH. — Signature Associates has arranged a 110,000-square-foot lease within Midlink Business Park, a 340-acre industrial park located in Comstock Township. Polymer Solutions will occupy a building located at 5262 E. Cork St. The company will join a tenant roster that includes ICS, Erickson’s Flooring Supply Co., Kenco, Esco, W. Soule & Co. and Tourney Consulting Group. Signature represented Midlink Business Park in the transaction.
DENTON, TEXAS — Stratford Group has sold 185 acres in Denton to ALDI Corp. for approximately $3.97 million. Tom Smolik of TIG Real Estate Services represented ALDI Corp. in the sale. The buyer plans to construct a 500,000-square-foot distribution center on the site, which is located near the Denton Municipal Airport.
NORTH LAS VEGAS, NEV. — United Construction has been selected to construct Southwest Gas Corp.’s new Southern Nevada Campus. Located at the corner of Centennial Parkway and Shatz Street in North Las Vegas, Northeast Centennial Operations Center will consist of two concrete tilt-up buildings totaling 101,981 square feet. One building will offer 73,000 square feet of office space, 21,000 square feet of warehouse space and a mezzanine level, while the second building will offer 7,049 square feet of industrial space. Additionally, the project will feature a storage yard and an outdoor-living demonstration area. The project broke ground in early May and completion is slated for April 2009. Upon completion, Southwest Gas Corp. plans to use the property as its primary facility in Southern Nevada.
DAVENPORT, FLA. — Duke Realty has leased 282,126 square feet of space at Park 27 Distribution Center II in Davenport to Indianapolis-based hhgregg, Inc. The retailer will occupy the facility this spring and utilize the building as its Central Florida distribution hub. Ian Allen and Frank Gulisano of Boca Raton, Fla.-based Summit Realty represented the tenant, and the owner was represented in-house by Kyle Armentrout. The facility is located at 220 Deen Still Rd.
JACKSON, MICH. — The Detroit office of CB Richard Ellis (CBRE) has arranged a 441,000-square-foot industrial lease at 2400 Enterprise Dr. in Jackson. Comprehensive Logistics is leasing the space from CDC Mead. Ron Gernoy of CBRE represented the tenant; Stephen Kurtz, also of CBRE, represented the landlord. Terms of the lease were not disclosed.