DENVER — Malman Commercial Real Estate has arranged the sale of an industrial property located at 890 Navajo St. in Denver’s Lincoln Park neighborhood. GS Navajo LLC sold the asset to 890 Navajo LLC for $4.1 million. The property features 56,160 square feet of industrial space. Jake Malman of Malman Commercial Real Estate represented the seller in the deal.
GLENDALE, ARIZ. — Saddle Creek Logistics Services has signed a deal to occupy a 570,080-square-foot industrial building in Glendale. The tenant is a third-party logistics company specializing in designing and delivering omnichannel logistics solutions for manufacturers, retailers and ecommerce companies. Ladson Montgomery, Rob Stephens and Chase Gabriel of Newmark represented the tenant in the deal. The name of the landlord was not released. The 620-foot-deep building features 40-foot clear heights, 87 dock-high doors, four large grade-level doors, 190-foot concrete truck courts, 132 trailer parking stalls with 89 future trailer stalls, and 356 auto parking stalls. The building also offers clerestory windows, energy-efficient LED lighting, an ESFR fire sprinkler system, two existing groundwater wells in the business center and heavy industrial zoning.
HANOVER PARK AND WARRENVILLE, ILL. — Associated, a storage and order fulfillment solutions company, has signed two office and industrial leases totaling 178,477 square feet in metro Chicago. The tenant signed a long-term lease to occupy the entire building at 6450 Muirfield Drive in Hanover Park. The property features 160,419 square feet of industrial space, inclusive of 10,000 square feet of office space. With this lease signing, Associated marks the establishment of a new operations facility and doubles its footprint in Chicagoland. The property will house the company’s warehouse operation as well as material handling equipment sales, service, parts and rental functions. In the second transaction, Associated signed a lease for a move-in ready office sublease at 4101 Winfield Road in Warrenville. The space totals 18,058 square feet. Corey Chase of Newmark represented Associated in both leases. Brian Colson and Brian Pomorski of Avison Young represented the landlord for the Hanover Park property, while Josh Feldman of Cushman & Wakefield represented the sublandlord in the Warrenville space.
BEREA, OHIO — Tempus Realty Partners has purchased a 57,948-square-foot industrial facility located at 140 Blaze Industrial Parkway in Berea, a western suburb of Cleveland. The purchase price was $4.4 million. Tempus acquired the property from TMG Performance Products LLC.
LAS VEGAS — Gantry has secured a $17 million fixed-rate refinancing for the first phase of Silverado Commerce Center, an industrial property in southwest Las Vegas. The borrower is a private real estate investor, which developed the property. Proceeds of the loan will pay off the developer’s construction loan. Chris Funai of Gantry arranged the 10-year loan, which features a fixed rate and a 30-year amortization schedule. One of Gantry’s correspondent life company lenders provided the funds. The property features two industrial buildings totaling 141,000 square feet. At time of financing, the asset was fully occupied by multiple tenants.
FORT WORTH, TEXAS — North Texas Amusement, a provider of coin-operated jukeboxes, has signed a 16,000-square-foot industrial lease renewal at Riverbend Business Park in Fort Worth. The 32-building, 1.4 million-square-foot development is located on the city’s northeast side. William Wilson and George Jennings of Holt Lunsford Commercial represented the landlord, Riverbend Properties, in the lease negotiations. The tenant was self-represented.
CAROL STREAM, ILL. — Mainfreight has signed a build-to-suit lease for a 57,100-square-foot freight terminal in the Chicago suburb of Carol Stream. Chicago-based Timber Hill Group owns the property in a joint venture with Champion Realty Advisors. TH LLC, a special purpose entity managed by Timber Hill and Champion, acquired the site in May. Mainfreight’s new terminal will feature 81 dock doors and parking for 92 cars, 88 trailers and 44 tractors. There will also be a 70-foot-wide dock area and a 20,000-square-foot, two-story office space complete with a kitchen and locker rooms. The facility will serve as Mainfreight’s North American headquarters. Construction is scheduled to begin in November with completion slated for early 2025. Mainfreight is a New Zealand-based logistics company providing end-to-end freight service solutions, including warehousing, domestic distribution and international air and ocean services. The company operates in 26 countries with more than 11,000 employees. Mainfreight currently has an office in Franklin Park, Ill. The project in Carol Stream is the first of two terminal build-to-suits that Timber Hill and Champion are developing on behalf of Mainfreight.
NEW YORK CITY — JLL has negotiated the $27.5 million sale of flex property located at 185 Van Dyke St. in Brooklyn’s Red Hook neighborhood that was originally built in the mid-1800s. According to LoopNet Inc., the property totals 100,697 square feet and can support office, retail and light industrial uses. Michael Mazzara, Bob Knakal, Stephen Palmese, Brendan Maddigan, Hall Oster, Jonathan Hageman, Ethan Stanton, Winfield Clifford and Connor McCullough of JLL represented the seller, locally based investment firm Lande Alexander Properties, in the transaction. Dan Morici, also with JLL, represented the buyer, San Francisco-based Terreno Realty Corp.
FAIRFIELD, N.J. — Chicago-based investment firm Venture One Real Estate has acquired a 103,008-square-foot industrial property in the Northern New Jersey community of Fairfield. According to LoopNet Inc., the property at 25 Commerce Road, which was roughly 68 percent leased at the time of sale, was built in 1982 and features a clear height of 24 feet. Leo Joseph and Josh Meisner of Leo Joseph and Co. represented Venture One in the transaction. The new ownership has hired Cushman & Wakefield to market the property for lease. The seller was not disclosed.
ROCK HILL, S.C. — Selwyn Property Group and CIP Real Estate have broken ground on Waterford Business Park, a 240,000-square-foot speculative industrial development in Rock Hill, approximately 30 miles southwest of Charlotte in South Carolina. Upon completion, which is scheduled for the fourth quarter of 2024, the property will comprise two 120,000-square-foot facilities situated on 25 acres at 656 Red River Road. Designed for single-tenant use, the buildings will also have the ability to be subdivided for multi-tenant use. Patrick Gildea, Rob Hardway, Matt Smith, Grayson Hawkins, Trey Barry and Frank Fallon of CBRE secured an $11.1 million limited partnership equity placement for the development of the property.