MESA, ARIZ. — Wrightwood Capital has provided a $10.8 million loan to Pacific Western Partners for the construction of an industrial property. Pacific Western is developing Pecos Gateway on the 10.5-acre site, which is located between Ellsworth and Sossaman roads in Mesa. The development plans to construct three industrial building with more than 125,000 square feet of divisible, for-lease space. Each building will feature 18- to 20-foot clear heights, grade-level loading and truck wells, and office space. The financing opportunity was sourced through Rich Harris of Newport Venture Capital.
Industrial
FALL RIVER, MASS. — DJM Realty, a division of Gordon Brothers Group, has acquired five industrial properties in Fall River from Quaker Fabric. DJM Realty acquired the properties through a bankruptcy auction and has sold one of the properties, a 227,068-square-foot building located on Davol Street, to Strictly By-The-Book. The four other properties are: 941 Grinnell St., 17 buildings consisting of 687,789-square-foot on 37.58 acres; 81 Ferry St., a 194,576-square-foot warehouse situated on 8.28 acres; 1450 Brayton Ave., a 162,188-square-foot industrial building situated on 7.39 acres; and 387 Quarry St., a 66,187-square-foot plant situated on 3.64 acres. The acquisition price was undisclosed.
.APOPKA, FLA. — Small Bay Partners will develop the Apopka CommerCenter, a 16-acre small bay industrial facility on Orange Avenue in Apopka. Acquired last December, the site will accommodate 200,000 square feet of industrial space to be subdivided for small businesses that require 2,000 to 20,000 square feet of space. The project will start construction in the first quarter of 2009 and complete Phase I in the third quarter of 2009.
CHICAGO — NAI Hiffman has completed the sale of a 305,000-square-foot Dominick’s distribution facility located in Crawford Industrial Park at 4404 W. District Blvd. in Chicago. The facility is situated on 17 acres and features 72 cross-docked loading docks, 23-foot clear ceiling heights and 95 parking spaces. Lawrence Much and Stephen Connolly of NAI Hiffman represented the seller, Dominick’s Finer Foods, as well as the buyer, an affiliate of New York City-based KTR Capital Partners. The same team will also handle leasing of the facility. KTR has also announced the construction of a new 180,000-square-foot distribution facility located adjacent to the existing building. Keeley Construction has been retained for the improvements and expansion of the existing facility. The acquisition price was not disclosed.
MONROE TOWNSHIP, N.J. — ING Clarion has purchased 34 Englehard Dr., a 203,000-square-foot facility in Monroe Township. Located in the Exit 8A market, the manufacturing/warehouse building is fully leased to Berry Plastics Corp. Cushman & Wakefield facilitated the transaction. The seller and the acquisition price were undisclosed.
LOS ANGELES — AMB Property Corp. has purchased a 902,000-square-foot industrial facility located in Los Angeles’ Inland Empire submarket. The Class A property, AMB Loma Grande Distribution Center, is currently occupied by Wal-Mart Stores Inc. With this acquisition, AMB Property now owns more than 22 million square feet of distribution facility space in Southern California. The seller and acquisition price were not disclosed.
COMPTON, CALIF. — Aloha Freight Forwarders, a freight forwarding company that operates between Hawaii and California, has acquired an 83,527-square-foot industrial building, which is located at 1800 S. Anderson St. in Compton, for $10.7 million. The property, which was recently renovated, features a four-ply built-up roof, 17 dock-high positions and doors, and a full concrete truck court. Don Smith and Craig Poropat of Lee & Associates represented the seller, Atlanta-based Oakmont Industrial Group, in the transaction.
MIAMI — Brian Smith and Wayne Ramoski of Cushman & Wakefield’s Miami office represented Shoma Development in the $24 million sale of 67-acres to AMB Property. One million square feet of the space will be developed for the AMB I-75 Business Center, which is bordered by Interstate-75, 170th St. and 97th Ave. The site was recently re-zoned by Miami-Dade County for industrial development and is one of the last remaining major parcels of undeveloped property in Miami’s I-75 North Corridor.
EDWARDSVILLE, ILL. — Lee & Associates has brokered the sale of 540,000-square-foot industrial facility located at 2965 Lakeview Corporate Dr. in the St. Louis suburb of Edwardsville. The recently constructed building features 32-foot clear ceiling heights and an ESFR sprinkler system. Thomas Homco and David Zeigler of Lee’s St. Louis office represented the seller, Sacramento, Calif.-based Panattoni. Pro Venture Real Estate represented the buyer, Tennessee-based Ozburn-Hessey Logistics. The sales price was not disclosed.
KANSAS CITY, MO. — Chicago-based HSA Commercial Real Estate has acquired a 154,000-square-foot industrial facility located at 4101-4131 N. Kentucky Ave. in Kansas City. The building is leased to three tenants, including American Tire Distributors, Rent-A-Center and Ecolab. It features 28-foot clear ceiling heights, 50-foot by 44-foot column spacing and 24 loading docks. Mike Caprile and David Hinchman of CB Richard Ellis represented the seller, a private investment group. The acquisition price was undisclosed.