DALLAS — Lee & Associates has negotiated a 21,136-square-foot industrial lease in northwest Dallas. According to LoopNet Inc., the building at 2616 Willowbrook Road was built in 1994 and totals 49,636 square feet. Stephen Williamson of Lee & Associates represented the tenant, Greenpath Mail Operations, in the lease negotiations. Nathan Denton, also with Lee & Associates, along with Brett Owens and Jack Brewer of Transwestern, represented the landlord, an entity doing business as Warehouse Development Ltd.
OCEAN TOWNSHIP, N.J. — New Jersey-based investment firm TFE Properties has acquired a 30,230-square-foot industrial building in Ocean Township, located along the Jersey Shore. The building at 42 Cindy Lane was constructed on five acres in 1989. According to LoopNet Inc., the property features a clear height of 18 feet and four drive-in doors. The property was fully leased at the time of sale to tenants such as Cooper Electric and KMSCO Inc. The seller and sales price were not disclosed.
FULLERTON, CALIF. — PSRS has arranged $11 million in refinancing for a Sunny Hills Business Park in the Orange County city of Fullerton. Built in 1981, Sunny Hills is a large industrial/flex and office building park comprising nine one- and two-story buildings, totaling 176,475 rentable square feet. Sixty-seven percent of the gross leaseable area is industrial/flex space and the remaining 33 percent is office space. Situated on 10.3 acres, the park offers signalized access to Imperial Highway. Kostas Kavayiotidis and Matthew Farzinpour PSRS arranged the nonrecourse, 10-year loan with a 30-year amortization schedule. One of PSRS’ correspondent life insurance companies provided the capital.
SACRAMENTO, CALIF. — Ware Malcomb has completed construction a build-to-suit industrial warehouse located at 3755 Pell Circle in Sacramento. The company provided civil engineering, architecture and interior design services for the 92,000-square-foot building, which Mainline Sales owns. Mainline Sales is a full-service manufacturer’s representative serving the states of California, Nevada, Arizona and Hawaii. The single-story, concrete tilt-up facility features a hybrid panelized roof, warehouse and distribution spaces. Additionally, the building can accommodate two 3,600-square-foot office spaces. KPRS Construction Services provided general contracting services for the project.
DEKALB, ILL. — Meta, parent company of Facebook, has opened a new 1 million-square-foot data center at ChicagoWest Business Center in DeKalb, about 64 miles west of Chicago. The Meta property is adjacent to one of the recently announced Illinois MegaSites Investment Program projects. This site makes approximately 793 acres of additional land available at ChicagoWest Business Center that is ready for the next phase of development. ChicagoWest Business Center is home to other tenants such as Amazon, Ferrara and Kraft Heinz. Krusinski Construction Co. served as general contractor.
AUSTIN, TEXAS — A partnership between Atlanta-based developer NitNeil Partners and locally based investment firm Seamless Capital will develop a 923-unit self-storage facility in East Austin. The existing structure on the 1.5-acre site at 853 Airport Blvd. will be redeveloped into a facility that spans 112,000 gross square feet and 83,000 net rentable square feet of climate-controlled space. LifeStorage will operate the property. Completion is slated for late 2024.
GRAND PRAIRIE, TEXAS — Lee & Associates has negotiated the sale of a 50,566-square-foot industrial building in Grand Prairie, located roughly midway between Dallas and Fort Worth. According to LoopNet Inc., the single-tenant building at 1922-1938 N. Great Southwest Parkway was built on 2.1 acres in 1981 and features 18-foot clear heights and 16 exterior dock doors. Colton Rhodes of Lee & Associates represented the buyer, Texas-based investment firm Stonelake Capital Partners, in the transaction. The seller and sales price were not disclosed.
JACKSON, GA. — Waterloo Partners and ICM Asset Management have received $40 million in construction financing for the development of River Park 10, a speculative industrial project in Jackson, about 50 miles south of Atlanta via I-75. Upon completion, the property will total 825,000 square feet within the River Park E-Commerce Center master development. The joint venture acquired the site in September and plans to break ground immediately, with completion of construction scheduled for the third quarter of 2024. A syndication between Trustmark National Bank and Coastal State Bank provided the construction loan, and Sweld & Sweld provided joint venture equity. Patterson Real Estate Advisory Group arranged the financing on behalf of the borrowers.
PISCATAWAY, N.J. — Transcontinental Steel has purchased a 45,000-square-foot industrial property in the Northern New Jersey community of Piscataway for $8.2 million. The property at 201 11th St. is divided into three 15,000-square-foot units and features clear heights of 12.5 feet. Kyle Gerace, Robert DiLeo and Mathew DiLeo of NAI DiLeo-Bram represented the seller, Binsky Snyder, in the transaction and procured Transcontinental Steel as the buyer.
SURPRISE, ARIZ. — BWE has arranged $29 million in first-mortgage construction financing for Echo Park @ P132, an industrial project in Surprise, approximately 20 miles northwest of Phoenix. Daniel Rosenberg and Logan Petersmeyer of BWE originated the loan for the borrower, Echo Real Estate Capital. A debt fund provided the capital. Totaling 183,000 square feet, Echo Park @ P132 will consist of four buildings ranging in size from 42,000 square feet to 48,000 square feet. The buildings will feature 2,500 square feet of speculative office space, 30-foot clear heights, dock-high doors, drive-in doors, LED lighting, secured concrete yards and 115 total parking spaces. Additionally, the buildings will be fully air conditioned.