GRAFTON, WIS. — NAI Greywolf has brokered the sale of a 36,154-square-foot industrial building in Grafton, about 20 miles north of Milwaukee. The sales price was undisclosed. The property, which features both manufacturing and office space, is located at 1000 Hickory St. and features a clear height of 14 feet. David Hodge of NAI Greywolf represented the buyer, World Emblem, which plans to hire about 75 employees to work out of the facility.
HIALEAH, FLA. — Doral, Fla.-based The Easton Group and Irvine, Calif.-based LBA Logistics have acquired a 26.4-acre development site in Hialeah, about 11.6 miles from Miami. The joint venture purchased the land for $29.4 million with plans to build two speculative warehouse and distribution facilities on the site. The two buildings will total 462,954 square feet. Building features will include 36-foot clear heights, 124 trailer stalls and 407 parking spaces. Construction is expected to start towards the end of the year and take about 18 months to complete. Located at 4220 West 91st Place, the project is located about 17 miles from Miami Beach and 10 miles from the Miami International Airport. Easton Group and LBA Logistics are also partnering on a 266,760-square-foot warehouse development in nearby Hialeah Gardens, which is slated for completion by the second quarter of this year. Easton Group is scheduled to deliver 393,910 square feet of industrial space in Miami-Dade County over the next six months.
TOLLESON, ARIZ. — Stos Partners has completed the disposition of a single-tenant industrial facility located at 10300 W. Buckeye in Tolleson. An undisclosed institutional buyer acquired the property for $27.5 million. Built in two phases in 2005 and 2016, the 227,000-square-foot property features 32-foot clear heights, dock-high loading doors and a variety of high-quality amenities. Stos Partners originally purchased the facility in December 2020 for $16.3 million.
GLENVIEW, ILL. — McShane Construction Co. has completed a 429,524-square-foot addition to the warehouse and showroom for Abt Electronics in the Chicago suburb of Glenview. The expansion more than doubled the tenant’s space. The project includes 22,230 square feet of office space and 407,294 square feet of warehouse space. The office buildout includes trucking offices, security offices, a break room and open office space. The single-story warehouse features a clear height of 32 feet and 39 semi-truck docks. Abt sells home appliances and electronics.
WHEELING, ILL. — SVN | Chicago Commercial has brokered the sale of a 50,000-square-foot industrial building in the Chicago suburb of Wheeling for an undisclosed price. The property is located at 111 E. Marquardt Drive. Dan Tobin of SVN represented the seller in the all-cash transaction. A local buyer purchased the building with plans to relocate its business to Wheeling from Elk Grove Village.
TERRELL, TEXAS — Lee & Associates has negotiated the sale of a 765,798-square-foot, rail-served industrial building in Terrell, about 30 miles east of Dallas, that was formerly occupied by Goodyear Tire. Building features include a cross-dock configuration, 185-foot truck court depths and an ESFR sprinkler system. Ken Wesson of Lee & Associates represented the buyer, an entity doing business as BFI Newco Holdings, in the transaction. Steve Berger and Corbin Crews of CBRE represented the seller, an entity doing business as 301 Apache Trail LLC.
HIALEAH, FLA. — Terreno Realty Corp. has acquired an industrial property in Hialeah for $73.2 million. The seller was not disclosed. Located at 4281-4341 West 108th St. on nearly 20 acres, the industrial property includes two recently developed rear-load distribution buildings totaling approximately 407,000 square feet. The property features 124 dock-high and four grade-level loading positions, 32-foot clear heights and parking for 359 cars. Additionally, the property is expected to obtain LEED certification. The property is fully preleased to two undisclosed tenants with leases expected to start in May and September. The property is situated immediately adjacent to Terreno Realty’s five existing buildings on West 108th Street and adjacent to Florida’s Turnpike and Interstate 75.
NEW YORK CITY — JLL has arranged a $49 million loan for the acquisition of a two-acre industrial development site in Brooklyn. The borrower, a partnership between Turnbridge Equities and Dune Real Estate Partners LP, plans to develop an 80,000-square-foot facility at the site using a portion of the proceeds from this loan. The project will also include 92,000 square feet of covered and rooftop parking space. Christopher Peck and Peter Rotchford of JLL arranged the loan through Starwood Property Trust.
HILLSIDE, N.J. — NAI James Hanson has negotiated the sale of a 28,000-square-foot vacant industrial building in the Northern New Jersey community of Hillside. The building sits on a 1.4-acre site that provides access to Interstate 78, Route 9 and the Garden State Parkway. Eric Demmers and Russel Verducci of NAI James Hanson represented the seller, Certified Processing, in the transaction. The buyer, an investor who owns nearby properties, plans to demolish the existing structure and add more parking space for an existing business.
PISCATAWAY, N.J. — New York City-based Ready Capital has closed a $3.7 million loan for the acquisition, renovation and stabilization of a 100,000-square-foot industrial property in the Northern New Jersey community of Piscataway. The nonrecourse, interest-only loan was structured with a 48-year term, floating interest rate and one extension option. The borrower was not disclosed.
