CHATHAM, N.J. — New Jersey-based Cronheim Mortgage has arranged a $7.8 million loan for the refinancing of a self-storage and retail asset located in the Fort Worth area. The property, formerly a grocery-anchored retail center, consists of a CubeSmart-branded self-storage facility with roughly 1,000 units and a 10,000-square-foot retail space occupied by Goodwill. David Turley, Janet Proscia and David Poncia of Cronheim arranged the nonrecourse, fixed-rate loan on behalf of the borrower, an affiliate of California-based DealPoint Merrill. An undisclosed national bank provided the loan. The address of the property was not disclosed.
PONTOON BEACH, ILL. — Contegra Construction Co. has completed the third distribution center at NorthPoint Development’s Gateway Tradeport in Pontoon Beach, about 13 miles northwest of St. Louis. Contegra is now building a 1 million-square-foot facility at the development that will be the largest speculative distribution center in the St. Louis area, according to the general contractor. With the completion of the 624,000-square-foot Gateway Tradeport III, the 600-acre Gateway Tradeport is now home to more than 1.7 million square feet of distribution space, all of which was built by Contegra. Building III features a clear height of 40 feet, 64 dock doors and parking for 181 trailers. Building IV is slated for completion in 2022.
MT. COMFORT, IND. — Colliers International has brokered the sale of Buildings 1 and 2 at Mount Comfort Commercial Park for an undisclosed price. The properties, totaling 650,987 square feet, are located on Enterprise Drive in Mt. Comfort, about 15 miles northeast of Indianapolis. Building 1 spans 260,406 square feet and features a clear height of 32 feet and 26 docks. Building 2 is a 390,581-square-foot facility with a clear height of 36 feet and 38 docks. Both buildings offer 135-foot trailer courts and were completed on a speculative basis. Alex Cantu, Jimmy Cohoat, Jason Speckman, Andrea Hopper and Alex Davenport of Colliers represented the sellers, Becknell Industrial and Cross Harbor Capital. An affiliate of EQT Exeter was the buyer.
LOMBARD, ILL. — Marcus & Millichap has negotiated the $10.2 million sale of Oak Creek Center in Lombard, a western suburb of Chicago. The 79,462-square-foot industrial facility is located on Oak Creek Drive. Tenants include Home Depot and Kia Motors. Peter Doughty of Marcus & Millichap represented the seller, a private investor. He also secured and represented the buyer, a private investor. Frank Montalto and Dean Giannakopoulos of Marcus & Millichap Capital Corp. arranged acquisition financing on behalf of the buyer.
SAN DIEGO — CapRock Partners has completed the disposition of a newly renovated distribution center located at 1855 Dornoch Court in San Diego’s Otay Mesa submarket. An investment firm acquired the property for an undisclosed price. CapRock completed several million dollars in capital improvements to the 210,156-square-foot building, which was originally built in the late 1980s. Situated on 10.6 acres, the facility features functional divisibility with a variety of bay sizes, 26- to 28-foot clear heights, grade- and dock-high loading doors, ESFR sprinkler systems and concrete truck courts. Bryce Aberg, Jeff Chiate, Jeffrey Cole, Ed Hernandez, Mike Adey and Zach Harman of Cushman & Wakefield represented the seller in the deal. Brant Aberg of Cushman & Wakefield along with Joe Anderson and Andy Irwin of JLL provided market leasing advisory.
REDMOND, WASH. — The Leibsohn Group of Marcus & Millichap has arranged the sale of Oakridge Business Park One, an industrial property in Redmond. A local investor acquired the property from an undisclosed seller for $14.2 million. Located at 17965 NE 65th St., Oakridge Business Park One features 41,900 square feet of industrial space. At the time of sale, the property was fully leased to a single tenant on a long-term lease. The buyer plans to eventually redevelop the asset. Brian Leibsohn and Raymond Vara of The Leibsohn Group in Marcus & Millichap’s Seattle office represented the seller and procured the buyer in the deal.
PERRIS, CALIF. — Dalfen Industrial has purchased Markham Distribution Center, an industrial property located at 212 Markham St. in Perris. Terms of the transaction were not released. The 80,527-square-foot property was built in 2019. The acquisition is the eighth West Coast purchase Dalfen has made in the past seven months.
WOODBRIDGE, N.J. — Indianapolis-based Duke Realty Corp. (NYSE: DRE) has broken ground on a 267,575-square-foot, build-to-suit cold storage project in the Northern New Jersey community of Woodbridge for FreezPak Logistics. The facility will consist of roughly 209,500 square feet of freezer space, a 45,760-square-foot cool dock and another 12,000 square feet of office space. The construction plan includes a clear height of 67 feet in the freezer and 30 feet in the cool dock area, as well as 34 dock doors, 70 trailer spaces and 167 automobile parking spaces. David Gheriani, William Waxman, Mindy Lissner and Kevin Dudley with CBRE, along with internal representative Ben Rosen, represented Duke Realty in the lease negotiations with FreezPak.
SOMERSET, N.J. — Denver-based EverWest Real Estate Investors has acquired a 125,790-square-foot industrial property in the Northern New Jersey community of Somerset for $27.7 million. Joel Lubin, John Buckley and Gary Politi of JLL, along with internal agent Stephen Feinberg, negotiated the deal on behalf of EverWest. The seller was Citgen Realty LLC. The Class A property was fully leased to drug developer Rising Pharma Holdings Inc. at the time of sale.
HARRISBURG, PA. — Marcus & Millichap has brokered the $12 million sale of a 927,828-square-foot industrial property in Harrisburg. The complex consists of eight buildings on a 21.3-acre site that are leased to tenants including PP&L Electric Utilities Corp., Capital Building Supply, Martin Logistics and Midwest Transport Inc. Craig Dunkle, Chad Thomason and Mher Vartanian of Marcus & Millichap represented the seller and buyer, both of which were limited liability companies that requested anonymity, in the deal. Sean Beuche of Marcus & Millichap assisted in closing the transaction as the broker of record.