SAN ANTONIO — A joint venture between Los Angeles-based PCCP LLC and San Antonio-based Milam Real Estate Capital will develop a 560,500-square-foot speculative industrial project in San Antonio. The site is located near the Interstate 10-Loop 410 interchange within the 340-acre Rosillo Creek Industrial Park on the city’s northeast side. Cavender Hill has been tapped to lease the development. A construction timeline was not released.
VANCE, ALA. — Highline Real Estate Partners and Growth Capital Partners have purchased Vance Logistics Center, a 604,000-square-foot, cross-dock logistics facility in Vance. Stewart Calhoun and Casey Masters of Cushman & Wakefield represented the sellers, Niantic Partners and Rothschild Capital Partners, in the transaction. Mark Byers of Cushman & Wakefield provided local leasing support. The sales price was $55 million. Built in 2004, Vance Logistics Center was fully leased to two tenants, ARD Logistics and BLG Logistics, at the time of sale. Located at 10095 Brose Drive, the facility is situated near a Mercedes-Benz Assembly Plant and is located near Interstate 20, Interstate 59 and University of Alabama, Birmingham. The property’s features include Class A tilt-wall construction, LED lighting with motion sensors, 116 dock-high doors, loading docks on three sides of the building, plenty of onsite employee and trailer parking and a guard house.
HIGHLAND HILLS, OHIO — Matthews Real Estate Investment Services has brokered the sale of a 145,000-square-foot industrial and office building in Highland Hills near Cleveland for $34.2 million. The property, occupied by ABB Inc., is located at 23000 Harvard Road. Chad Kurz of Matthews represented the buyer, a private investor completing a 1031 exchange. Seller information was not provided.
COLUMBUS, OHIO — Arden Logistics Parks has purchased the Parkway Columbus portfolio, a three-property industrial portfolio totaling 172,800 square feet in the West Columbus submarket. The purchase price was undisclosed. The buildings, which range in size from 28,000 to 116,000 square feet, are fully occupied by 23 tenants. The seller, Parkway Business Partners LLC, is comprised of a group of local investors. Ross Bratcher and Joe Davis of JLL brokered the transaction.
LINDEN, N.J. — Cushman & Wakefield has arranged a $235 million loan for the refinancing of Buildings E and G at Linden Logistics Center in Northern New Jersey. The two buildings total approximately 1.3 million square feet. Northwestern Mutual provided the 10-year, fixed-rate loan to the borrower, a partnership between two New Jersey-based firms, Advance Realty Investors and Greek Development. John Alascio, Chuck Kohaut, T.J. Sullivan, John Spreitzer, Sebastian Sanchez and Zachary Smolev of Cushman & Wakefield arranged the financing. Construction of the three-building, 1.6 million-square-foot second phase of Linden Logistics Center is currently underway and expected to be complete in the third quarter.
MORRISTOWN, N.J. — A partnership between global investment management firm Nuveen Real Estate and New York City-based Taconic Partners has acquired a 296,000-square-foot warehouse in the Northern New Jersey community of Morristown for $55 million. The property was built on 17 acres in 1986 and was fully leased at the time of sale. Cushman & Wakefield brokered the deal. The seller was not disclosed.
BILLERICA, MASS. — CBRE has negotiated the $23.7 million sale of a 91,649-square-foot industrial building located in the northern Boston suburb of Billerica. The property features a clear height of 26 feet and 268 parking spaces. Scott Dragos, Chris Skeffington, Doug Jacoby, Anthony Hayes, Roy Sandeman, Tim Mulhall and Dan Hines of CBRE represented the seller, The RAM Cos., in the transaction. The buyer was locally based investment firm The Davis Cos.
DALLAS — Zuri Furniture, which specializes in outfitting homes and offices, has signed a 270,686-square-foot, full-building industrial lease at 601 Tittle Drive in Dallas. The space is under construction within the 1,700-acre Austin Ranch master-planned development on the city’s north side and is expected to be available for occupancy by March 1. Chad Albert of NAI Robert Lynn represented the tenant in the lease negotiations. George Billingsley represented the landlord, locally based developer Billingsley Co., on an internal basis.
FORT WORTH, TEXAS — CBRE has negotiated the sale of Mercantile Distribution Center 40, a 182,500-square-foot industrial property in Fort Worth. New Jersey-based Faropoint purchased the property from Austin-based Marbella Interests LLC for an undisclosed price. Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber of CBRE brokered the deal on behalf of the seller. Mercantile Distribution Center 40 was fully leased to a single, unnamed tenant at the time of sale.
HOBOKEN, N.J. — Locally based investment firm Faropoint has acquired a portfolio of 10 industrial buildings totaling 654,633 square feet in Northern New Jersey for $132.5 million. The portfolio was 98 percent leased at the time of sale. Four of the properties are located in Whippany, and four are located in Oakland. The other two are located in Fair Lawn. Marc Duval, Jose Cruz, Michael Oliver, Jordan Avanzato and Nick Stefans of JLL represented the seller, Kushner Cos., in the transaction. Faropoint will implement a capital improvement program that will include fresh paint jobs, replaced roofs and new lighting and sustainable features.