COPPELL, TEXAS — Rediform, a supplier of office products, has extended its 100,808-square-foot industrial lease at 555 Airline Drive in the Fort Worth suburb of Coppell. According to LoopNet Inc., the cross-dock property was built in 1990 and features 24-foot clear heights and 18,646 square feet of office space. Sean Smith, Evan Hammer and Jade Scott of Whitebox Real Estate represented Rediform in the lease negotiations. Rebel Blackwell represented the landlord, Link Industrial Properties, on an internal basis.
MASON, OHIO — NorthMarq has arranged a $10.2 million loan for the acquisition of two industrial flex buildings at Governor’s Pointe in Mason, about 22 miles north of Cincinnati. The two properties span 154,775 square feet and are located at 4900 Parkway Drive and 4700 Duke Drive. They feature both industrial and office space. Noah Juran of NorthMarq arranged the five-year loan, which features a 25-year amortization schedule and a fixed rate. A regional bank provided the loan.
KIRKLAND, WASH. — Terreno Realty has purchased Parmac Industrial Park, located at 10822-10858 117th PL NE in Kirkland. An investment group, which owned the property for more than 30 years, sold the asset for $33.7 million, or $266 per square foot. At the time of escrow, a mix of wholesalers, distributors and sports/recreational tenants fully occupied the 126,721-square-foot property. A seven-acre lot with future expansion potential was included in the transaction. Leroy Lutu of Marcus & Millichap represented the seller and procured the buyer in the deal.
RENO, NEV. — Panattoni Development has commenced construction of Building J, the 10th and the final building of the North Valleys Commerce Center in Reno. Located at 9575 N. Virginia Road, Building J will add 138,240 square feet of space to the park, which totals nearly 3 million square feet. Current tenants at North Valleys Commerce Center include S&S Activewear, Mary’s Gone Crackers, Mary Kay Corp. and Compass Health. The buildings at the park feature 36-foot clear heights, ESFR sprinkler systems, LED lighting, ample power, standard column spacing, divisibility, quick access to US 395 via the Steade Boulevard and Lemmon Drive interchanges and freeway visibility. CP Logistics NVCC IV LLC owns the center, which Panattoni is developing. Tectonics served as architect and Alston Construction is the builder for the project. Mike Nevis and Shawn Jaenson of Kidder Mathews are handling leasing for the project.
SIGNAL HILL, CALIF. — A joint venture between Newport Beach, Calif.-based RanchHarbor and Los Angeles-based Manhattan West Real Estate has purchased a 0.79-acre, value-add industrial asset located in Signal Hill. Terms of the off-market transaction were not released. The property consists of two single-tenant industrial buildings totaling 18,682 square feet with a shared secured yard. Each building offers a dock-high door and a grade-level door. At the time of acquisition, one building was occupied with a substantial term remaining on the lease and the other building was vacant. The buyers plan to perform deferred maintenance and capital improvements to the property, including “white boxing” of the vacant building to improve its marketability and make it move-in ready. The joint venture has retained Marc Bonadando and Brad Connors of Kidder Mathews to handle leasing of the available space. RanchHarbor arranged a full capital-stack solution for the transaction, with the company’s advisory platform sourcing a 36-month, fixed-rate, non-recourse bridge loan from a bank lender.
FLORENCE, N.J. — NAI Mertz has negotiated a 300,700-square-foot, full-building industrial lease at 839 Railroad Avenue, a project under construction in the Southern New Jersey city of Florence. Scott Mertz of NAI Mertz represented the tenant, auto parts supplier DNA Motoring, in the lease negotiations. Tony Rod of Lee & Associates represented the developer, Denver-based Black Creek Group. Building features include 36-foot clear heights, ample trailer parking and immediate proximity to the New Jersey Turnpike. DNA Motoring expects to take occupancy of the building in the second quarter.
LAREDO, TEXAS — The JAMCO Group, a locally based provider of customs and logistics services, has signed a 500,000-square-foot industrial lease in the South Texas city of Laredo. Beginning on June 1, The JAMCO Group will occupy the entirety of a building owned by California-based Majestic Real Estate that was originally developed as a build-to-suit for Mattel. Carlo Molano of Forum CRE represented the tenant in the negotiations for the lease, which is the largest industrial deal of its kind in Laredo in 20 years.
HOUSTON — Colliers International has negotiated a sale-leaseback at Dynamic Glass Industrial Park in Houston. The 160,778-square-foot, four-building development is situated on nine acres on the city’s northwestern side. David Carter and John Nicholson of Colliers represented the seller and tenant, locally based custom fabricator Dynamic Glass, in the transaction. California-based TCI Properties represented the buyer, Gordon Creekside, which negotiated a 15-year lease with Dynamic Glass at closing.
MISSOURI CITY, TEXAS — Arizona Partsmaster, a provider of property maintenance and repair supplies, has signed a 68,342-square-foot industrial lease at Waypoint Business Park in Missouri City, a southwestern suburb of Houston. Payson MacWilliam, Jon Lindenberger and Paul Dominique of Colliers International represented the tenant in the lease negotiations. Justin Robinson, Matteson Hamilton and Woody Hillyer of Stream Realty Partners represented the landlord, a partnership between 4M Investments and Clarion Partners. Waypoint Business Park encompasses 708,944 square feet of industrial space across four buildings.
DELAVAN, WIS. — Coldwell Banker Commercial has arranged the $4 million sale of a 100,000-square-foot industrial building in Delavan, about 45 miles southwest of Milwaukee. Built in 2019, the property sits on 17.4 acres at 2153 Hobbs Drive. The building features a clear height of 30 feet, eight docks and one drive-in door. Bill Mears and Adam Schultz of Coldwell Banker Commercial McGuire Mears & Associates represented both the buyer and seller in the transaction. The buyer, Prop Shaft Supply, a division of Machine Service Inc., plans to move its 85 employees to the property.