HOUSTON — Texas-based investment firm Stonelake Capital Partners has acquired a 127,513-square-foot industrial property in northwest Houston. Andy Sowell of Boyd Commercial represented the seller and former occupant of the building, Graybar Electric Co., in the deal. David Munson and Wes Williams, also with Boyd Commercial, subsequently negotiated a full-building lease with Hannibal Industries, a manufacturer of steel pallet racks.
DALLAS — Stream Realty Partners has brokered the sale of a 104,427-square-foot industrial property in Dallas. The property is situated on a roughly 10-acre site along Interstate 35 in the South Stemmons submarket. Jamie Jennings, Andrew Rabinovich and Jason Moser of Stream Realty Partners represented the seller in the transaction. Additional terms of sale were not disclosed.
CHALFONT, PA. — NAI Mertz has arranged the sale of a 151,220-square-foot industrial property located at 90 Hamilton St. in Chalfont, located north of Philadelphia. The sales price was approximately $6 million. The building is situated on 14 acres and includes 6,000 square feet of office/showroom space. Jeff Licht, Jared Licht and Adam Lashner of NAI Mertz represented the buyer, AVL Properties LLC, in the transaction. Binswanger Commercial Real Estate Services represented the seller.
TAMPA, FLA. — Cushman & Wakefield has negotiated the $32 million sale of Macy’s Distribution Center in Tampa. The 645,241-square-foot property serves as a warehouse and Macy’s Furniture Gallery. Macy’s sold the asset to Irvine, Calif.-based LBA Realty. The building is situated at 4130 W. Gandy Blvd., seven miles southwest of downtown Tampa. The property features 108 48-foot dock doors, one drive-in door, 225 parking spaces and interior and exterior LED lighting. Mike Davis, Rick Brugge, Rick Colon, Dominic Montazemi, Gary Gabriel, Adam Spies and Anthony Pasqual of Cushman & Wakefield represented Macy’s in the transaction. Macy’s will continue to lease the space.
MEMPHIS, TENN. — LRC Properties has acquired a 640,000-square-foot industrial facility in Memphis for $23 million. The asset is situated at 4926 Southridge Blvd., 11 miles east of Memphis International Airport. Technicolor occupies the building on a lease that expires in 2023. The seller was not disclosed. Brian Califf of NAI Saig Co. represented the buyer in the transaction. Ready Capital closed an $18.9 million acquisition loan on behalf of the Rye Brook, N.Y.-based buyer. The non-recourse loan features interest-only payments for the duration of the four-year term, a floating interest rate, one extension option and flexible prepayment options.
GREENVILLE, TEXAS — Philadelphia-based Binswanger Commercial Real Estate Services has brokered the sale of an approximately 1 million-square-foot industrial property in Greenville, located northeast of Dallas. The site consists of a 626,682-square-foot warehouse and a 418,482-square-foot manufacturing building set on more than 100 acres. Locally based manufacturer Fritz Industries sold the property to private investment firm EPM Partners for an undisclosed price. Holmes Davis of Binswanger brokered the deal. Cary Pollack and Judah Neuman of Meridian Capital Group arranged acquisition financing through Cerco Funding LLC.
FARMERS BRANCH, TEXAS — San Francisco-based industrial giant Prologis has acquired a 49,915-square-foot warehouse that is situated on 3.8 acres at 2168 W. Diplomat Drive in the northern Dallas metro of Farmers Branch. The seller was Ngan Brothers LLC. Dan Spika of Henry S. Miller Brokerage negotiated the transaction. Prologis recently announced that it completed $25 billion in investments in 2020.
VINELAND, N.J. — CBRE has negotiated the $21.5 million sale of a 269,000-square-foot industrial property located in the Southern New Jersey city of Vineland. The property is leased to Burberry Wholesale Ltd. (235,739 square feet) and Stellar Distributing (33,761 square feet). Building features include 32- to 34-foot ceilings, 16 loading docks, four drive-in bays, and parking for 222 cars and 16 trailers. Michael Hines, Brian Fiumara, Brad Ruppel and Lauren Dawicki of CBRE represented the seller, Vineland Construction, in the transaction. The buyer was Massachusetts-based private equity firm High Street Logistics Properties.
KANSAS CITY, MO. — Sealy & Co. has acquired a 99,704-square-foot warehouse in the Johnson County submarket of Kansas City for an undisclosed price. Built in 2019, the Class A building is situated within the Perimeter Park Commerce Complex and is fully leased. Sealy’s investment services team, along with Ed Elder and John Stafford of Colliers International, brokered the sale. Jones Development was the seller.
SPRING VALLEY, ILL. — Marcus & Millichap has brokered the $9 million sale of the Marmon Keystone Distribution Center in Spring Valley, about 55 miles north of Peoria. The 184,320-square-foot property was constructed as a build-to-suit for Marmon Keystone in 2010. The single-tenant, net-leased facility sits on 22 acres. Sean O’Brien of Marcus & Millichap marketed the property on behalf of the seller, a developer. The buyer was undisclosed.