Industrial

MINNEAPOLIS AND BLOOMINGTON, MINN. — The Minneapolis/St. Paul office of Colliers Turley Martin Tucker (CTMT) has arranged the sales of part of Chicago-based First Industrial Realty Trust’s portfolio for more than $19 million. The properties were part of the company’s First Industrial Portfolio, and were sold in two transactions to separate locally based investment partnerships. The first sale involved two buildings totaling 318,006 square feet that are located at 770 and 800 Kasota Ave. in Minneapolis. The second sale involved two properties totaling 161,368 square feet that are located within Normandale Tech Center at 6403 and 6507 Cecilia Dr. in Bloomington. Mark Kolsrud, Matthew Klein, Shawn Moore and Pia Robertson represented First Industrial in the sale.

MARINETTE, WIS. — Meridian Capital Group has secured $4.5 million in financing for a 250,000-square-foot, owner-occupied industrial facility located at 3100 Woleske Rd. in Marinette. Financing consists of a 15-year, self-liquidating loan with a 6.375 percent interest rate. Jim Bologno of Meridian’s New Jersey office represented the undisclosed borrower.

DETROIT — Signature Associates has arranged the sale of a 65,000-square-foot industrial property located at 1221 Rosa Parks Blvd. in Detroit. Chris Monsour of Signature represented the seller, Service Tire Co., as well as the buyer, Fort Rosa LLC. The acquisition price was not disclosed.

ST. CHARLES, ILL. — Colliers Bennett & Kahnweiler (CBK) has brokered the sale of two industrial buildings within The Legacy Business Center, a master-planned industrial park being developed in St. Charles. Carter Andrus and Brian Kling of CBK represented the developer, Paul Hemmer Cos., in the disposition of both properties. The first property is a 27,900-square-foot building located at 902 Equity Dr. It features 24-foot clear ceiling heights, two exterior docks and one drive-in door. The property was acquired by Corrosion Monitoring Services. The second property is a 15,626-square-foot building located at 882 Equity Dr. It features 18-foot clear ceiling heights, one exterior dock and one drive-in door. The property was acquired by Turbo Jet Partners, which was also represented by Andrus and Kling. Three of the four buildings developed in the initial phase of The Legacy Business Center have now been sold. Phase II construction is currently underway, consisting of two new speculative buildings totaling 18,000 and 22,000 square feet. The business park will ultimately contain 13 buildings.