MELVILLE, N.Y. — JLL has arranged a $35 million loan for the refinancing of a 309,314-square-foot industrial facility located in the Long Island community of Melville. The property comprises a 213,914-square-foot warehouse and a 96,000-square-foot warehouse that are both undergoing capital improvements and were recently leased to an undisclosed national online retailer. Thomas Didio Jr., Matthew Pizzolato and Max Custer of JLL arranged the 10-year, fixed-rate loan through Provident Bank on behalf of the borrower, an undisclosed private investor.
LOCKPORT, ELK GROVE VILLAGE AND BOLINGBROOK, ILL. — ML Realty Partners has negotiated three industrial lease renewals totaling 199,054 square feet at three of its properties in Chicagoland. Illinois Tool Works, a global manufacturer of engineered fasteners and components, renewed its 102,390-square-foot lease at 15901 W. 147th St. in Lockport. Consolidated Electrical Distributors, an electrical supply distributor, renewed its 79,528-square-foot lease at 2801 Busse Road in Elk Grove Village. Esmer Tile, a glazed ceramic and porcelain tile, metal and natural stone producer, will continue to occupy its 17,136-square-foot space at 100 E. Crossroads Parkway in Bolingbrook.
WAUNAKEE, WIS. — Lee & Associates has brokered the $2.5 million sale of a 24,000-square-foot industrial building in Waunakee, a northern suburb of Madison. The property is located at 904 Bethel Circle. Blake George of Lee & Associates represented the seller, Golden Properties LLC. Stimac Holdings LLC, a company that designs and manufactures video games, was the buyer.
BIRMINGHAM, ALA. — Cushman & Wakefield | EGS Commercial Real Estate has arranged the $7.8 million sale of a 67,000-square-foot warehouse in Birmingham. Situated at 101 39th St. N., the property is a new build-to-suit facility for Ferguson Enterprises, a distributor of commercial and residential plumbing products. Cushman & Wakefield | EGS delivered the facility in March 2022. Boston-based Stag Holdings purchased the property. Adam Eason of Cushman & Wakefield | EGS led the development efforts and also brokered the lease and sale transactions. INCO Group and WatsonBruhn Builders were the general contractors for the project. Stag Holdings has retained Cushman & Wakefield | EGS to provide management services for the property
SAN ANTONIO — Locally based developer Koontz Corp. has broken ground on Westport Industrial Park, a 374,400-square-foot project in San Antonio. Koontz Corp. is developing Westport Industrial Park in phases, with the first of the two 187,200-square-foot buildings set to be delivered in February 2023. Building features will include 24-foot clear heights, 130-foot truck court depths, 23 dock doors and a total of 480 parking spaces. NAI Partners has been tapped to lease the development.
DALLAS — Alcoholic beverage distributor Dynasty Spirts has signed a build-to-suit industrial lease at PROTO Park, a 250,000-square-foot development in the Brookhollow submarket of Dallas. The square footage was not disclosed. The owner of PROTO Park, Fort Worth-based M2G Ventures, is underway on construction of the facility. Scott Hobbs and Kim Lyon of Newmark represented Dynasty Spirits in the lease negotiations. Jason Moser and Hanes Chatham of Stream Realty Partners represented M2G Ventures.
Sansone Group, Crow Holdings Near Completion of 702,450 SF Industrial Project in Palmyra, New Jersey
PALMYRA, N.J. — A partnership between St. Louis-based Sansone Group and a fund advised by Crow Holdings Capital is nearing completion of Tac Pal Logistics Center, a 702,450-square-foot industrial project located in the Southern New Jersey community of Palmyra. The facility will feature a clear height of 40 feet, 107 loading docks, 240 trailer stalls and 499 car parking spaces. Tac Pal Logistics Center also offers proximity to Route 130, Interstate 95 and the New Jersey Turnpike. Cushman & Wakefield and Avison Young have been tapped as co-leasing agents for the development, which is slated for a September 2022 delivery.
NEWARK, N.J. — Wholesale discount merchandiser Costco has opened a 183,000-square-foot warehouse and distribution center roughly two miles from the Port of Newark. The facility sits on 12.6 acres and features a clear height of 40 feet, 36 exterior docks, 83 trailer parking spaces and 168 car parking spaces. RC Anderson served as the general contractor for the project, which was developed on a speculative basis by Illinois-based CenterPoint Properties.
NEW ALBANY, OHIO — AmplifyBio, a biotechnology contract research organization, will invest approximately $150 million for a new 350,000-square-foot facility in New Albany, about 15 miles northeast of Columbus. The company plans to generate 263 new jobs between the new facility and its existing property in West Jefferson. AmplifyBio says it is expanding to meet surging market demand for advanced therapies, including cell and gene therapy products. The new property at 9885 Innovation Campus Way in New Albany will create 132 jobs. A timeline for construction was not provided.
MELVILLE, N.Y. — Southern California-based investment firm Cohen Asset Management has purchased an 84,140-square-foot logistics facility located in the Long Island community of Melville. The property, which sits on 6.9 acres, was fully leased to Estee Lauder and two other tenants at the time of sale. Building features include a clear height of 22 feet and parking for 250 vehicles. The seller and sales price were not disclosed.