GRAND PRAIRIE, TEXAS — Bradford Commercial Real Estate Services has negotiated a 10,130-square-foot industrial lease at Trinity West Business Park in the central metroplex city of Grand Prairie. Michael Spain and Jim Ferris of Bradford represented the landlord in the lease negotiations. Brooke Ford of SVN Trinity Advisors represented the tenant, California-based solar energy provider V3 Electric. The deal brings the two-building, 140,798-square-foot development to full occupancy.
ROLLING MEADOWS, ILL. — Brennan Investment Group has acquired a 485,000-square-foot office building located at 3800 Golf Road in the Chicago suburb of Rolling Meadows. Brennan plans to demolish the building and construct a new Class A industrial park to be named Rolling Meadows Commerce Center, or RMC². The development will consist of 600,000 square feet of industrial space and landscaped grounds. Target users will include manufacturers, distributors and data centers. The project is still in the early stages with no specific construction timeline, but Brennan expects to complete the project in the next few years.
BLAINE, MINN. — Blaine35, a three-building industrial park totaling 317,400 square feet in the Minneapolis suburb of Blaine, is now fully leased. Action Target, a shooting range equipment manufacturer, leased 31,120 square feet in Building A and plans to take occupancy in May. Aspect Automation, an automated manufacturing solutions provider, leased the entire 98,900-square-foot Building B and expects to take occupancy in November. Dan Swartz and Austin Lovin of CBRE represented the developer, Canada-based Artis REIT, which completed the final building in December. Other tenants include Chandler Industries, Caerus Corp. and Jonco Die Inc.
CLAYTON, OHIO — CBRE has brokered the $12 million sale of a 200,356-square-foot distribution center in Clayton, a northwest suburb of Dayton. Situated on 20 acres at 1 Lau Parkway, the property is net leased to Michigan-based HVAC manufacturing company Hart & Cooley LLC. The company has occupied the facility since its completion in 1997. The property features 12 dock doors, four drive-in doors, clear heights ranging from 24 to 26 feet and trailer parking. Will Roberts, Steve Timmel, Phil Pelok and Brandon Ellis of CBRE represented the seller, Property Advisors Group. AIC Industrial was the buyer.
AUBURN, N.Y. — Marcus & Millichap has brokered the sale of B&C Storage, a 229-unit self-storage facility in Auburn, about 30 miles west of Syracuse. The facility was originally built on 2.8 acres in 1980 and comprises 24,094 net rentable square feet of non-climate-controlled space. The sale included an adjacent parcel that spans a third of an acre. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the buyer and seller, both of which were limited liability companies that requested anonymity, in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.
STRATFORD, CONN. — Locally based brokerage firm Angel Commercial has negotiated the $7.2 million sale of two adjacent development sites at 1255 and 1297 West Broad Street in Stratford, located in southern Connecticut’s Fairfield County. The lots are part of a 14-acre assemblage that is zoned and approved for the construction of a 231,000-square-foot industrial facility that will feature clear heights of 36 to 39 feet, two drive-in doors and 232 parking spaces. Boston-based GFI Partners purchased the land and is developing the facility. Jon Angel of Angel Commercial brokered the land deal, the seller in which was not disclosed. Construction is slated for a second-quarter 2024 completion.
SAN DIEGO — Northmarq has arranged a $51.2 million loan for Rose Canyon Business Park, a 232,863-square-foot industrial asset in San Diego. Built in 1976, the multi-tenant industrial park is located at 4901-4907 Morena Blvd., just north of downtown San Diego. Northmarq arranged the two-year loan, which features extension options, through its relationship with an undisclosed bridge lender. The floating-rate loan enables the unnamed sponsor to carry out its value-add business plan over the next three years at Rose Canyon Business Park.
SAN JOSE, CALIF. — Mag Mile Capital has arranged a $20 million cash-out senior mortgage in connection with the financing of a light industrial flex property located at 355 E. Trimble Road in San Jose. The 96,780-square-foot property is owned by 355 Trimble Owner, an entity affiliated with Chicago-based Highlands REIT, which has owned the property debt-free since acquiring it as part of a spinoff in 2016. Highlands and global tech hardware manufacturer Veeco executed a 16-year lease at the research-and-development property in January 2021, which included one year of rent abatement to complete a substantial tenant buildout.
HOUSTON — Silver Star Properties, an entity formerly known as Hartman Short Term Income Properties XX Inc., has sold a 734,000-square-foot industrial property located at 2300 Quitman Road in Houston. The property consists of five buildings ranging in size from 84,467 to 199,151 square feet. Silver Star purchased the property, which was originally constructed in 1920, in 1998. Tenants at the property, which was fully leased at the time of sale, include Liberty Tire Recycling and Sunbelt Warehouse LLC. The buyer was an undisclosed national investment firm.
GRAND PRAIRIE, TEXAS — Lee & Associates has negotiated a 14,522-square-foot industrial lease in the central metroplex city of Grand Prairie. According to LoopNet Inc., the property at 1209 W. Carrier Parkway was built in 1980, totals 34,673 square feet and has 16-foot clear heights. Mark Graybill and Reed Parker of Lee & Associates represented the landlord, Link Industrial Properties, in the lease negotiations. Jamie White of Jamie White Commercial Real Estate represented the tenant, Team Rubicon, a nonprofit provider of disaster relief services.