PHILADELPHIA — Colliers International has negotiated a 200,000-square-foot industrial lease at 7601 State Road in northeast Philadelphia for JAKO Enterprises, an urban footwear and apparel company. According to LoopNet Inc., the property was built in 1968 on 8.3 acres and offers proximity to I-95. JAKO Enterprises will relocate its regional warehousing and distribution operations from 12000 Roosevelt Blvd., a site that formerly served as a baking facility for Nabisco. Richard Gorodesky of Colliers represented JAKO Enterprises, which operates 64 stores throughout the mid-Atlantic region, in the lease negotiations. Pennsylvania-based Roddy Inc. represented the undisclosed landlord.
SEWICKLEY, PA. — A joint venture between Washington, D.C.-based ASB Real Estate Investments and an affiliate of Endurance Real Estate Group LLC has acquired a 408,000-square-foot industrial complex in Sewickley, roughly 10 miles northwest of Pittsburgh, for $38 million. The seven-building complex was 99 percent leased at the time of sale to companies such as Amazon, Verizon and Chrysler. CBRE represented the seller, Bentall Kennedy, a subsidiary of Sun Life Investment Management, in the transaction. The sale included three undeveloped parcels for future expansion.
FAIRFIELD, CONN. — West Orange, New Jersey-based brokerage firm Sheldon Gross Realty has closed the $30 million-plus sale of seven office and industrial buildings totaling 315,800 square feet in the coastal Connecticut city of Fairfield. The buyer was an institutional investment firm and the seller was undisclosed. Robert Nathin of Sheldon Gross Realty, which has also managed the properties for the past two decades, brokered the deal.
DUNCAN, S.C. — Liberty Property Trust (LPT) has signed Rochling Automotive USA and XPO Logistics to industrial leases at Hillside Industrial Park in Duncan. Hillside Industrial Park is situated near U.S. Highway 290, less than a mile from the Interstate 85 interchange. Rochling Automotive has renewed its 124,800-square-foot, full-building lease at 265 East Parkway. The German-based automotive company designs and engineers components and system solutions in the fields of aerodynamics, propulsion and new mobility for automotive manufacturers globally. Bobby Lyons of Lyons Industrial represented the tenant in the lease transaction. Bryan Blythe represented LPT internally. The industrial REIT also signed XPO Logistics to a 32,000-square-foot lease at 170 Parkway West. Russell Perry and Russell Perry Jr. of R.E. Perry Co. represented XPO Logistics in the lease transaction. Brian Young, Elliott Fayssoux and Kacie Jackson of Cushman & Wakefield | Thalhimer represented LPT.
LEXINGTON, KY. — Cushman & Wakefield has arranged the $31 million sale of The Fountains at Andover, a 318-unit apartment community in Lexington. The Wilkinson Group acquired the property, rebranded it as Reserve at Hamburg and plans to upgrade individual units. Amenities include a car care center, fitness center, sports court, swimming pool, tennis court and two lakes with fountains. Mike Kemether and Craig Collins of Cushman & Wakefield represented the undisclosed seller in the transaction.
AUSTIN, TEXAS — Miami-based balance sheet lender 3650 REIT has originated an $87.9 million construction loan for 48 East, a 33-story condominium project that will be located in the Rainey Street district of Austin. The property will feature 249 units ranging in size from 456 to 851 square feet. Amenities will include a rooftop pool, viewing deck and a fitness center. The borrower was a joint venture between Austin-based Pearlstone Partners and Miami-based Newgard Development Partners. Mike Guterman of Highland Realty Capital and John Ghiselli of Waterloo Real Estate Investments placed the nonrecourse loan, which carried a 75 percent loan-to-cost structure.
THE WOODLANDS, TEXAS — Wealth and human resources consulting firm Alight Solutions has signed a 180,000-square-foot office lease within The Woodlands, a master-planned community located north of Houston. The company’s new office space will offer access to walking trails and other outdoor amenities. The build-to-suit lease is for a building in The Woodlands that is currently under construction and is expected to be complete by spring 2020. Ronnie Deyo and David Bale of JLL represented Alight Solutions in the lease negotiations. Robert Parsley, Norm Munoz and Jillian Fredericks of Colliers International represented the landlord and developer, The Howard Hughes Corp.
BEDFORD, TEXAS — Dallas-based Henry S. Miller Cos. has arranged the sale of a 15,000-square-foot medical office building in Bedford, located northeast of Fort Worth near DFW International Airport. The property was built in 2001 and was triple-net-leased to Texas Health Family Care at the time of sale. Darrell Hurmis and Lily Chang of Henry S. Miller represented the seller and buyer, respectively, in the transaction. The sale included a 19,800-square-foot adjacent tract that will be used to provide additional parking.
GRAND PRAIRIE, TEXAS — Bradford Commercial Real Estate Services has brokered the sale of Bardin Professional Center, a 9,358-square-foot office building in Grand Prairie, located roughly midway between Dallas and Fort Worth. The two-story property, which was built in 2003, is situated just off Interstate 20 and was 82 percent leased at the time of sale. Leigh Richter of Bradford Commercial represented the seller, IM Bardin LLC, in the deal. The buyer, Nabua Property Holdings LLC, plans to renovate the building.
RICHARDSON, TEXAS — CBRE has negotiated an 8,828-square-foot office lease at 3001 E. George Bush Turnpike in Richardson, a northeastern suburb of Dallas. Tommy Nelson and Ben Davis of CBRE represented the landlord, Buchanan Street Partners, in the lease negotiations. Jeff Smith of Transwestern represented the tenant, Cardiovascular Provider Resources LLC.