NEW YORK CITY AND HACKENSACK, N.J. — Locally based investment firm Sitex Group has acquired two industrial properties totaling 65,670 square feet in the New York City area. The first property is a 25,670-square-foot warehouse located at 1155 Commerce Ave. in The Bronx that is occupied by the New York City Department of Sanitation. The second building is a 40,000-square-foot maintenance facility located at 600 S. River St. in Hackensack, New Jersey, that was formerly occupied by truck repair company Deluxe International Trucks. Greiner Maltz’s Atanu Bhattacharjee, Waterstreet Capital’s Carl Bronstein and Douglas Elliman Commercial’s Rick Dana arranged the transaction.
PURCHASE, N.Y. — Newmark Knight Frank (NKF) has negotiated a 25,000-square-foot office lease for law firm Milber Makris Plousadis & Seiden LLP at 100 Manhattanville Road in Purchase, located north of New York City in Westchester County. The four-story building spans 290,631 square feet, is situated on 23.8 acres and features a full-service cafeteria, fitness center and a concierge desk. Patricia Valenti of NKF represented the tenant in the lease negotiations. Lawrence Ruggieri, also with NKF, represented the landlord, RPW Group Inc.
BASKING RIDGE, N.J. — Mendham Capital Management, an affiliate of Raymond James, has signed a 3,243-square-foot office lease extension in the Northern New Jersey city of Basking Ridge. Rick Genthe and Sean O’Brien of Lincoln Property Co. represented the landlord, CIG Properties, in the lease negotiations. Lee Barnes of Woodman Group represented the tenant.
FARMERS BRANCH, TEXAS — Los Angeles-based CIM Group has provided a $190 million bridge loan for the refinancing of International Plaza, a 780,000-square-foot office campus located in the northern Dallas metro of Farmers Branch. The Class A property consists of a 13-story building and a 15-story building that were recently upgraded to offer new indoor and outdoor amenities. Rob Rubano, Greg Napper and Brian Share of Cushman & Wakefield arranged the loan, which was structured with a five-year term and a floating interest rate. The borrower, Taconic Capital Partners, acquired the asset in 2018.
GRAND PRAIRIE, TEXAS — Dallas-based Mohr Capital has sold a 400,000-square-foot warehouse in the central metroplex city of Grand Prairie to Boston-based investment firm TA Realty. The sale is Mohr Capital’s seventh transaction in 2020 and comes after more than 13 years of ownership of the property. Jonathan Bryan of CBRE represented Mohr Capital in the transaction. TA Realty was self-represented.
ALLEN, TEXAS — Kaizen Development Partners has completed One Bethany West, a 200,000-square-foot office building in the northeastern Dallas suburb of Allen. One Bethany West is the third office building in the One Bethany at Watters Creek development, which consists of two completed buildings totaling 300,000 square feet and the capacity for an additional 600,000 square feet of new development. BOKA Powell designed the eight-story property, which offers amenities such as a fitness center, conferencing center, tenant lounge, golf simulator and outdoor activity space. Highlands Residential Mortgage recently signed a lease to become the inaugural tenant.
CHICAGO — NorthPoint Development has selected Cushman & Wakefield to market the three remaining sites at Commerce Park Chicago. The sites offer up to an additional 1.9 million square feet of Class A industrial space. Located at the former Republic Steel site in Chicago’s Hegewisch neighborhood, Commerce Park Chicago is a 2.4 million-square-foot industrial park. Larry Goldwasser, Jason West and Colin Green of Cushman & Wakefield will represent Kansas City-based NorthPoint in both for-lease and build-to-suit opportunities.
GALESBURG, ILL. — Corteva Agriscience has leased 300,000 square feet at a former Maytag facility located at 1801 Monmouth Blvd. in Galesburg, about 45 miles northwest of Peoria. Corteva is an agricultural chemical and seed company. Phoenix Investors owns the building, which has been vacant since Maytag closed the plant over a decade ago. Phoenix purchased the facility in June 2019. Corteva will take occupancy this fall once renovations are completed.
HOUSTON — Lee & Associates has brokered the sale of a 158,700-square-foot industrial campus located at 6500 Brittmoore Road in northwest Houston. The campus consists of eight buildings on 13 acres. Robert McGee, Thomas Leger and Chase Cribbs of Lee & Associates represented the buyer, privately held development firm Adkisson Group, in the transaction. The seller and sales price were not disclosed. Lee & Associates will also be marketing the property for lease.
GAHANNA, OHIO — Thompson Thrift Retail Group (TTRG), a wholly owned subsidiary of Indianapolis-based Thompson Thrift, has sold a freestanding retail property in the Columbus suburb of Gahanna for an undisclosed price. Bank of America and Merrill Lynch are scheduled to open at the two-story, 8,830-square-foot property later this year. The one-acre parcel is located at the northeast corner of Hamilton and Blendon Place roads. Dylan Mallory of Hanley Investment Group Real Estate Advisors represented TTRG in the sale. The buyer was undisclosed.