BELL GARDENS, CALIF. — Partners Capital has purchased an industrial asset, located at 6855 Suva St. in Bell Gardens, for an undisclosed price. Situated on 2 acres, the property features two buildings totaling approximately 36,000 square feet. Remy Moses of Lee & Associates represented the buyer in the deal. Additional terms of the deal were not disclosed.
NORWOOD, MASS — Marcus & Millichap has arranged the sale of Extra Space Storage, an 83,271-square-foot self-storage facility in Norwood. The sales price was undisclosed. Located at 1450 Boston Providence Turnpike, the facility opened in 2016 and is currently 85 percent occupied. The property consists of 1,011 climate-controlled units. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a limited liability company. The buyer was also a limited liability company.
ALVARADO, TEXAS — REV Recreation Group (NYSE: REGV), a Milwaukee-based manufacturer of emergency and recreational vehicles, has sold a 58,736-square-foot service center in Alvarado, about 30 miles south of Fort Worth. The property, which includes 10,156 square feet of office space, was built in 2008 and expanded in 2017. The sale also includes 12 acres of land. Dan Spika of Henry S. Miller Brokerage represented REV Recreation Group in the sale. Mark Wussow of Commercial Real Estate Services LLC represented the buyer, Illinois-based National Retail Properties LP.
LOS ANGELES AND MOORPARK, CALIF. — Continental Partners has arranged a total of $15.8 million in financing across two transactions in Southern California. Zalmi Klyne of Continental Partners handled the transactions. Continental Partners secured $9 million in refinancing for a 41-unit, three-property multifamily portfolio in South Los Angeles. The financing allowed the undisclosed sponsor to cash out 90 percent equity. Previously, the firm arranged a bridge loan for the purchase of the assets in December 2017. The new 30-year loan is priced at rate of 4.61 percent with three years of interest-only payments and a loan-to-value ratio of 70 percent. The company also arranged $6.8 million in cash-out refinancing for a 105,000-square-foot industrial building in Moorpark. The firm previously secured a bridge loan for the acquisition of the property in October 2017. The loan was 98.5 percent of the original purchase price. The new financing features a seven-year term with a five-year fixed interest rate. The loan-to-value ratio is 70 percent.
WATERTOWN, WIS. — The Dickman Company Inc./CORFAC International has negotiated the sale of a 245,000-square-foot industrial building in Watertown for an undisclosed price. The property is situated at 1141 S. 10th St. in Watertown, about 50 miles west of Milwaukee. TJ Huenerbein and Nick Keys of Dickman brokered the transaction. TJW Plant 10 LLC purchased the building from Midland Stamping and Fabricating Corp.
MILWAUKEE — Colliers International has brokered the sale of the King Juice Co. headquarters in Milwaukee for $4.5 million. The 114,000-square-foot beverage manufacturing property is located at 851 W. Grange Ave. King Juice Co., which makes lemonades, iced teas and fruit beverages, has a long-term lease at the property. Tom Shepherd, Jennifer Huber-Bullock and Steve Sewart of Colliers represented the seller, Milwaukee-based Salvatore B. Purpero Living Trust. New York-based BBS Grange Road Investors LLC purchased the asset. The buyer plans to add a new parking lot and upgrade the office finishes.
CHICAGO — Meridian Design Build has broken ground on an 84,000-square-foot USDA meat processing plant for Amylu Foods in Chicago’s Stockyards Industrial Park. The new sausage processing facility will include 56,000 square feet of production and cold-storage space and a freezer. The property will also include 16,500 square feet of corporate office space, including separate raw and cooked facilities, test kitchens and a laboratory. An expandable ammonia refrigeration plant will accommodate plant cooling and production loads. Harris Architects and Kimley-Horn make up the project team.
FORT WORTH, TEXAS — CT Realty has begun construction of Westport Logistics Center, an 882,565-square-foot industrial project located within the Alliance submarket of Fort Worth. The facility, which is being developed in a joint venture with Mitsubishi’s Diamond Realty Investments, will be situated within a mile of Interstate 35 and adjacent to Fort Worth Alliance Airport, as well as the BNSF intermodal railway. The project will consist of two buildings in either single-sided or cross-dock configurations, with 32- and 36-foot clear heights, 185-foot truck courts and build-to-suit office spaces. Completion is slated for the fourth quarter. Westport Logistics Center is CT Realty’s fourth major industrial development in the DFW metroplex.
WORCESTER, MASS. — Marcus & Millichap has negotiated the $2.4M sale of an industrial facility in Massachusetts. Located at 344 Franklin St., the 300,000-square-foot property was 60 percent occupied at the time of sale. Harrison Klein and Matthew Pierce in Marcus & Millichap’s Boston office represented the undisclosed seller in the transaction. An existing tenant purchased the property pursuant to a right of first refusal.
ASHLEY, IND. — Brightmark Energy has received $260 million in financing to build the nation’s first commercial-scale plastics-to-fuel plant in Ashley, a small town of fewer than 1,000 residents in the northeast corner of Indiana. The financing includes $185 million in Indiana green bonds, which were underwritten by Goldman Sachs & Co. Brightmark plans to invest $47 million in the plant, according to KPC News, a local news outlet. Brightmark is the controlling owner of RES Polyflow, an Ohio-based energy technology company that innovated the process for converting plastics directly into transportation fuel and other products. Brightmark acquired a majority interest in the company in November. Brightmark Energy Ashley Indiana will convert up to 100,000 tons of plastics into 18 million gallons per year of ultra-low-sulfur diesel and naphtha blend fuels and nearly 6 million gallons a year of commercial-grade wax in a process that is expected to be 93 percent efficient. The outputs could also be used to produce the feedstocks necessary for manufacturing plastic again, “thus creating the world’s first truly circular economy technology for plastics,” according to Brightmark. “We are excited about the market’s confidence in the validity of this technology to economically convert single-use plastics for …