MALDEN, MASS. — M&T Bank has provided an $8.3 million loan for the refinancing of an industrial property in Malden, a northern suburb of Boston. A partnership between Oliver Street Capital and Bain Capital Real Estate was the borrower. Located at 129 Commercial St., the 54,000-square-foot property features a clear height of 12 feet, four loading docks and one drive-in door. National Grid currently leases the property. David Douvadjian, Timothy O’Donnell and Brian Butler of Newmark Knight Frank placed the loan.
GUILFORD, CONN. — Medical engineering service Bio-Med Devices has signed a 6,500-square-foot industrial lease in Guilford, an eastern suburb of New Haven. Located at 1 Shoreline Drive, the 72,000-square-foot building features a clear height of 24 feet and was constructed in 2000. The property offers convenient access to State Route 1 and the Connecticut Turnpike, and Bio-Med’s headquarters and primary manufacturing facility is within two blocks of the facility. Bio-Med Devices manufactures personal protective equipment (PPE), including ventilators. Bill Clark, also of The Geenty Group, represented the landlord, Russo Real Estate LLC.
PORT WENTWORTH, GA. — JLL has arranged the $19.6 million sale of a 281,467-square-foot distribution center in Port Wentworth. The property is situated at 110 Little Hearst Parkway, within Savannah River International Trade Park and six miles from the Port of Savannah. The asset was delivered in 2019. Patrick Nally, Trent Agnew, Matt Wirth, Britton Burdette, Dennis Mitchell and Pete Pittroff of JLL represented the buyer, Exeter Property Group, in the transaction. The seller was not disclosed.
CHICAGO, LYONS AND BARTLETT, ILL. — JLL Capital Markets has brokered the sale of a three-property cold storage portfolio totaling 712,051 square feet in metro Chicago for an undisclosed price. The facilities are located in Chicago, Lyons and Bartlett. They are fully leased to 11 tenants. John Huguenard, Ed Halaburt, Sean Devaney, Kurt Sarbaugh and Robin Stolberg of JLL represented the seller, Investcorp. Lineage Logistics, which is controlled and operated by Bay Grove, purchased the assets.
SCHILLER PARK, ILL. — MidAmerica Printing Systems Inc. has signed a 30,550-square-foot industrial lease at 3838 River Road in Schiller Park near the Chicago O’Hare International Airport. The facility totals 65,082 square feet and sits on 3.5 acres. It features four interior docks, three drive-in doors and 30 trailer stalls. The printing company will move from 1716 W. Grand Ave. in Chicago once the lease commences in July. Tom Rodeno and Matthew Stauber of Colliers International represented the landlord, Brennan Investment Group. The remainder of the building is available for lease.
NORTH EAST, MD. — Stewart Properties has sold Principio Commerce Center II, a 550,050-square-foot cold storage facility in North East. The asset is fully leased to KeHE Distributors LLC. Stewart Properties delivered the property in February. The building features 36-foot clear heights; LED lighting; wide column spacing; loading positions including 43 dry, 14 cold and 36 additional punch-outs; four drive-in doors; and significant freezer and cooler buildouts. Principio Commerce Center is located at 585 Principio Parkway W., 47 miles northeast of downtown Baltimore and the Port of Baltimore. Bruce Strasburg, Dave Dannenfelser, Jay Wellschlager, Tyler Boykin and Craig Childs of JLL represented the seller in the transaction. CBRE Global Investors acquired the asset for an undisclosed price.
GLENDALE, ARIZ. — Hines, along with funds managed by Oaktree Capital Management, has selected Graycor Construction’s Southwest Division as general contractor for Phase I of Glendale 303 (G303), a Class A industrial development along the Loop 303 corridor in Glendale. The industrial park will be constructed in two phases, with two buildings each totaling 569,520 square feet. To accommodate needs of a major tenant, G303 will offer the flexibility to convert into a single, 1.2 million-square-foot building. Graycor will manage grading for the full project site and build G303’s first 569,520-square-foot building. Construction is slated to begin in July, with completion scheduled for first-quarter 2021. Ware Malcomb is serving as architect for G303. Bill Honsaker and John Lydon of JLL are serving as leasing brokers for the project.
BRISTOL, WIS. — HSA Commercial Real Estate, in partnership with Washington Capital Management, has broken ground on the first phase of the 68-acre Bristol Highlands Commerce Center in Bristol near I-94 and the Wisconsin-Illinois border. The first two speculative buildings are slated for completion in the fourth quarter. One is a 157,656-square-foot warehouse with 31 truck docks, and the other is a 472,216-square-foot distribution center with 72 truck docks. Jeff Hoffman and Chad Vande Zande of Cushman & Wakefield | Boerke, along with Eric Fischer of Cushman & Wakefield in Chicago, are marketing the facilities for lease. Premier Design + Build Group is the general contractor, Partners in Design Architects is the architect and Pinnacle Engineering is the civil engineer.
EDWARDSVILLE, ILL. — Meridian Design Build has completed the construction of a 673,920-square-foot speculative industrial building in Edwardsville within metro St. Louis. Exeter Property Group was the developer. The new facility is located on a 135-acre parcel within Gateway Commerce Center. The building features a clear height of 36 feet, 132 loading docks, four drive-in doors, 398 auto parking stalls and 171 exterior trailer stalls. JRA Architecture and Stock & Associates Consulting Engineers Inc. made up the project team.
HIALEAH GARDENS, FLA. — Easton Group will develop a 266,000-square-foot warehouse in Hialeah Gardens near Miami. An affiliate of Easton acquired an 8.5-acre site for $8.2 million. In September, a different Easton affiliate bought an adjacent 8.5-acre site for $5.6 million. Easton will develop the 266,000-square-foot property across the entire 17-acre site, which is located on NW 107th Street near the Florida Turnpike. The facility will feature 32-foot clear heights and 75 trailer parking spaces. Construction is expected to start in the first quarter of 2021, and leasing efforts are already underway. Ware Malcomb designed the property. Dalton Easton internally represented the buyer in both land transactions. The seller(s) was not disclosed.