PASSAIC, N.J. — A partnership between locally based investment firm STRO Cos. and The Millstein Family Office has acquired a 90,000-square-foot warehouse and manufacturing building located at 147 Falstrom Court in Passaic, about 30 miles northwest of Manhattan. James McNerney of McBride Corporate Real Estate represented the buyer in the transaction. Additional terms of sale were not disclosed.
NEW YORK CITY — New York City-based Ready Capital has closed a $31 million loan for the acquisition, renovation and stabilization of a 200,000-square-foot industrial property located in the Andover/Lawrence submarket of Boston. The nonrecourse, interest-only loan carried a 48-month term and a floating interest rate and includes a facility to fund capital improvements. The borrower was not disclosed.
LAKE ZURICH, ILL. — Factor, a ready-to-eat meal delivery service, has opened a new fulfillment and distribution center in Lake Zurich, a northwest suburb of Chicago. The nearly 100,000-square-foot facility is located at 1325 Ensell Road. Factor already occupies production facilities in Aurora and Burr Ridge, as well as a distribution center in Lyons and corporate offices in Batavia. Factor was founded in 2013 and acquired by HelloFresh in 2020. Dan McGillicuddy, Charlie Kenning and Charlie Mintz of JLL represented HelloFresh in the Lake Zurich deal.
HAWTHORNE, ELMSFORD AND YONKERS, N.Y. — JLL has arranged a $455 million refinancing loan for a portfolio of 45 properties totaling approximately 2.6 million square feet across three industrial parks in New York’s Westchester County. Bank of America provided the floating-rate, non-recourse loan to the borrower, Robert Main Co. Mike Tepedino, Andrew Scandalios, Jose Cruz, Peter Rotchford and Tyler Peck of JLL arranged the financing transaction. The loan terms were not disclosed. The portfolio is situated in infill locations within in the New York metropolitan area. The properties benefit from significant barriers to entry, limited new supply and access to Interstates 287 and 87. Over the past few years, Robert Martin Co. has made improvements to the properties including new roofs, LED lighting upgrades, solar panel installations, paving and landscaping. The three industrial campuses include Mid Westchester Executive Park at 2 Skyline Drive in Hawthorne; Cross Westchester Executive Park at 100 Clearbrook Road in Elmsford; and South Westchester Executive Park at 7 Odell Plaza in Yonkers, according to the Commercial Observer. The properties are occupied by approximately 300 tenants in a wide variety of industries including warehousing, transportation, mechanical, child care, health technologies and quantum computing research. “This portfolio has …
DILLON, S.C. — Equus Capital Partners has sold 95 Inland Port Logistics Center, a 373,100-square-foot warehouse logistics facility in Dillon, about 62.8 miles from Myrtle Beach. An entity doing business as IPD South LLC purchased the property for $47.5 million. Frank Fallon and Bob Barrineau of CBRE represented Equus in the sale of 95 Inland Port Logistics Center, which was fully leased to Calabasas, Calif.-based retailer Harbor Freight Tools at the time of sale. Developed by Equus Development LP on a 30-acre site, 95 Inland Port Logistics Center is a 410-foot deep, single-side loaded building with a 180-foot deep, all-concrete truck court that includes excess trailer parking away from the loading docks. The warehouse was constructed with precast concrete panels and features 32-foot clear heights, LED interior lighting, 50-foot by 50-foot column spacing, an ESFR sprinkler system and air conditioning. The property is located near Interstate 95 and is 3.5 miles from South Carolina Ports Authority’s Inland Port Dillon.
AUBURN HILLS, MICH. — Trigo Quality Solutions has signed a 102,377-square-foot industrial lease at 2430 E. Walton Blvd. in Auburn Hills. The company provides quality management and consulting solutions mainly for the automotive, aerospace and heavy transportation industries. Geoff Hill and Chris Hill of Newmark represented the new owner, Frain Cooper Holdings LLC, which purchased the 125,063-square-foot building via a partial sale-leaseback with Norma Group. The Newmark team secured a deal with Trigo to bring the building to full occupancy upon closing. Anthony Rubino of Pilot Property Group represented Trigo. Norma Group will remain in the building, leasing 22,686 square feet.
CHANDLER, ARIZ. — Lincoln Property Co. has purchased two buildings at AZ 202 Commerce Park in Chandler for $32.5 million. Will Strong, Mike Haenel, Andy Markham, Phil Haenel and Greer Oliver of Cushman & Wakefield represented the seller, ViaWest, in the deal. Located at 1600 S. Hamilton St. on 7.7 acres, the project features 140,372 square feet of fully leased industrial space — a 65,892-square-foot Building A and a 74,480-square-foot Building B. The buildings include 28-foot clear heights, 60-foot speed bays, gated and secured concrete truck courts and 38 rear-load doors offering dock-high and grade-level loading. Additional amenities include an ESFR sprinkler system, LED lighting, 2,000 amps of power per building and generous car and trailer parking. The project is adjacent to AZ 202 Commerce Park Phase I, a 106,000-square-foot, built-to-suit industrial project completed in 2018 that PODS Moving and Storage fully occupies. ViaWest Group developed all three buildings, delivering Building A and Building B in 2020.
LAS VEGAS — Orange County, Calif.-based MCA Realty, through its MCA Realty Industrial Growth Fund, has acquired two industrial assets in Las Vegas for a total of $5.6 million. In the first transaction, MCA Realty purchased Windy Road Warehouse, a seven-building industrial project in Las Vegas, for $3.4 million in an off-market transaction. At the time of sale, the 19,901-square-foot campus was fully occupied. The asset includes seven separate parcels. MCA plans to implement capital upgrades to the property, including a new paint scheme, roofs, and upgraded parking lot and landscaping. The asset is located at 6460, 6466, 6472 and 6478 Windy Road. Kevin Higgins and Sean Zaher of CBRE represented the buyer and undisclosed seller in the deal. In the second transaction, MCA Realty acquired 3.6 acres of land at the northeast corner of Sunset Road and Warbonnet Way in Las Vegas. The firm plans to develop two single-tenant, 40,000-square-foot industrial buildings on the parcel. The two buildings will each feature approximately 1,500 square feet designated for office, 28-foot clear heights and ESFR sprinklers. Dan Doherty, Jerry Doty, Chris Lane and Paul Sweetland with Colliers International represented the buyer and undisclosed seller in the deal.
BEDFORD, PA. — Organic Snack Co., the maker of Kate’s Real Food, has purchased 82 acres in Bedford, located in the southern-central part of the state, with plans to open a new warehouse and distribution center. At full build-out, the facility will span about 750,000 square feet. The investment represents a total capital commitment of $75 million and is expected to add about 500 jobs to the local economy. Dollar Bank provided predevelopment and acquisition financing for the land.
GRANBY, MASS. — Marcus & Millichap has brokered the sale of All Town Storage, a 242-unit self-storage facility in Granby, about 90 miles west of Boston. The facility spans 34,250 net rentable square feet, and the site can support the development of two more buildings. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller in the transaction, and Thomas Shihadeh of Marcus & Millichap assisted in closing the deal as the broker of record. Additional terms of sale were not disclosed.