BORDENTOWN, N.J. — Penwood Real Estate has acquired a 275,631-square-foot warehouse in Bordentown, a suburb of Trenton, for $60 million. Building features include a clear height of 24 feet, 16 tailgate doors, 9,108 square feet office space and parking for 80 cars and 120 trailers. In addition, the 39-acre site at 201 Elizabeth St. features four acres of outdoor storage space and can support an additional 140,767 square feet of new construction. Steven Schultz, Steve Tolkach, Kyle Eaton and Tony Georgiev of Newmark represented the seller, O’Donnell Group, in the transaction.
BORDENTOWN, N.J. — Penwood Real Estate has acquired a 275,631-square-foot warehouse in Bordentown, a suburb of Trenton, for $60 million. Building features include a clear height of 24 feet, 16 tailgate doors, 9,108 square feet office space and parking for 80 cars and 120 trailers. In addition, the 39-acre site at 201 Elizabeth St. features four acres of outdoor storage space and can support an additional 140,767 square feet of new construction. Steven Schultz, Steve Tolkach, Kyle Eaton and Tony Georgiev of Newmark represented the seller, O’Donnell Group, in the transaction.
LITTLETON, COLO. — NavPoint Real Estate Group has brokered the sale of a light industrial property located at 8101 Midway Drive in Littleton. DCP Midway LLC acquired the building from Pavco Group for $6.9 million. The fully climate-controlled 48,820-square-foot property features outside storage and oversized drive-in doors. Jeff Brandon and Matt Call of NavPoint Real Estate Group represented the buyer, while Tyler Carner of CBRE represented the seller in the deal.
GASTONIA, N.C. — Poettker Construction has broken ground on the second phase of Gateway 85, an industrial park located 22 miles west of Charlotte in Gastonia. NorthPoint Development is the project developer for both tilt-wall facilities. Phase II comprises Building 4, a 241,114-square-foot warehouse located on 15 acres at 3145 Aberdeen Blvd., and Building 7, a 705,234-square-foot warehouse located on 40 acres at 3301 Lineberger Road. Preparation of the 55-acre development will entail the relocation of an existing road that goes through the site and reworking the intersection, as well as site clearing and hauling away excess dirt. No construction timeline was disclosed. Poettker Construction is nearing completion on a similar project for NorthPoint in Salisbury, N.C.
DALLAS — Home improvement products provider Riad Tile has signed a 49,000-square-foot industrial lease at 5200 E. Grand Ave., located just east of downtown Dallas. According to LoopNet Inc., the property was built in 1952, renovated in 1986 and spans 344,000 square feet. Josh Barnes and Canon Shoults of Holt Lunsford Commercial represented the landlord, Frontier Equity, in the lease negotiations. Alex Coe of Cresa represented the tenant.
BUFFALO GROVE, ILL. — Colliers has arranged the sale of a 226,384-square-foot flex industrial property in the Chicago suburb of Buffalo Grove for an undisclosed price. Constructed in 1985, the building features 90,000 square feet of office space and parking for 600 cars as well as an attached manufacturing facility with a clear height of 21 feet, five interior docks and three exterior docks. Siemens has occupied the property since 1987 and utilizes the space for its U.S. engineering headquarters, which employs more than 800 engineers and manufacturing workers. Jeff Devine and Steve Disse of Colliers represented the seller, a private investor. Lightstone was the buyer.
PLYMOUTH, MINN. — Meritex has completed the redevelopment and lease-up of Building One at Parkers Lake Commerce Center in the Twin Cities suburb of Plymouth. The three-building industrial complex totals 381,349 square feet. Meritex purchased the property in June 2021. Improvements to Building One include new entrances, façade, LED lighting and a new concrete truck court with 24 additional dock-high doors, two drive-in doors and additional parking. Stratasys, a polymer 3D printing solutions company, signed a seven-year lease for the entirety of the building, which spans 168,100 square feet. Jason Meyer and Brent Masica of Cushman & Wakefield represented Meritex in the lease transaction. Jim DePietro of CBRE represented Stratasys.
BUFFALO GROVE, ILL. — Colliers has arranged the sale of a 226,384-square-foot flex industrial property in the Chicago suburb of Buffalo Grove for an undisclosed price. Constructed in 1985, the building features 90,000 square feet of office space and parking for 600 cars as well as an attached manufacturing facility with a clear height of 21 feet, five interior docks and three exterior docks. Siemens has occupied the property since 1987 and utilizes the space for its U.S. engineering headquarters, which employs more than 800 engineers and manufacturing workers. Jeff Devine and Steve Disse of Colliers represented the seller, a private investor. Lightstone was the buyer.
PLYMOUTH, MINN. — Meritex has completed the redevelopment and lease-up of Building One at Parkers Lake Commerce Center in the Twin Cities suburb of Plymouth. The three-building industrial complex totals 381,349 square feet. Meritex purchased the property in June 2021. Improvements to Building One include new entrances, façade, LED lighting and a new concrete truck court with 24 additional dock-high doors, two drive-in doors and additional parking. Stratasys, a polymer 3D printing solutions company, signed a seven-year lease for the entirety of the building, which spans 168,100 square feet. Jason Meyer and Brent Masica of Cushman & Wakefield represented Meritex in the lease transaction. Jim DePietro of CBRE represented Stratasys.
DALLAS — Home improvement products provider Riad Tile has signed a 49,000-square-foot industrial lease at 5200 E. Grand Ave., located just east of downtown Dallas. According to LoopNet Inc., the property was built in 1952, renovated in 1986 and spans 344,000 square feet. Josh Barnes and Canon Shoults of Holt Lunsford Commercial represented the landlord, Frontier Equity, in the lease negotiations. Alex Coe of Cresa represented the tenant.