COLLEGEVILLE, PA. — HFF has arranged $32.9 million in financing for Global Data Center, a purpose-built, Tier III+ data center facility located at 1000 Black Rock Road in Collegeville. The borrower, GI Partners, will use the financing to acquire the property. Kevin MacKenzie, Ryan Ade, Jamie Kline and Christian Tober of HFF arranged the three-year, floating-rate loan through Wells Fargo Bank for the borrower. Completed in 2009, the 203,702-square-foot facility features an available power load of 4.6 MW and the capacity to be expanded to 7 MW with additional capital investment.
NEW YORK CITY — Marcus & Millichap has arranged the sale of a development site located at 2433 Pitkin Ave. in Brooklyn. A private investor acquired the site for $1.1 million. The buyer plans to develop a mixed-use property featuring 32 residential units and ground-floor retail space on the site. Jakub Nowak, Jim McGuckin and Thomas Brennan of Marcus & Millichap represented the seller, a private investor, and the buyer in the deal.
MADISON, WIS. — Reich Brothers Holdings LLC and Rabin Worldwide have partnered to redevelop the former Oscar Mayer plant in Madison. The partnership will sell the equipment within the facility at a live and online public auction onsite on Dec. 6-8. Oscar Mayer, a producer of hot dogs, bacon and cold cuts, had occupied the property since 1919, with the site serving as its headquarters from 1957 to 2016. Kraft Heinz announced the closure in 2015 and officially ceased production this summer. The campus features 1.7 million square feet on a 72-acre site. The plan is to redevelop the campus, including repurposing several existing buildings, with a balanced mix of light manufacturing, warehouse, distribution and office space.
TROY, MICH. — Hayman Co. has unveiled plans for a $10 million upgrade of a 732,000-square-foot office complex in Troy. The company purchased the five-building property earlier this year for $55 million. Along with external updates to the complex, renovations will be made to the lobbies and bathrooms. A conferencing center will also be added. The name change to PentaCentre is part of the rebranding process for the property, which is located along East Big Beaver Road and was originally built in the mid 1980s. Hayman Co. will handle management and leasing of the property.
ROSEVILLE, MINN. — Meritex is developing two 144,000-square-foot industrial buildings in Roseville, 10 miles northeast of St. Paul. Highcrest II and III will replace the former 360,000-square-foot Minnesota Technology Exchange building upon its demolition this month. The property is located at 2470 Highcrest Road. Meritex developed the building currently on the site in 1964, and owned and managed the property for four decades. The company sold the building in 2004, and then repurchased the asset in 2016. Completion of Highcrest II and III is slated for fall 2018. David Stokes, Todd Hanson, Jason Sell, Chris Weirens and Ian Thompson of Cushman & Wakefield will market the property for lease.
OMAHA, NEB. — NorthMarq Capital has arranged a $24.4 million Freddie Mac loan for the refinancing of Broadmoor Hills Phase III in Omaha. The 192-unit apartment building is located at 18440 West Dodge Hills Plaza. Community amenities include a fitness center, pool, indoor basketball court and resident movie theater. Jason Kinnison of NorthMarq arranged the loan for the borrower through its seller/servicer relationship with Freddie Mac.
CEDAR RAPIDS, IOWA — CBRE Hotels has brokered the sale of the Holiday Inn Express South in Cedar Rapids for an undisclosed price. The 83-room hotel is located on 33rd Avenue. Amenities include a fitness center and indoor pool. Nate Sahn and Douglas Johnson of CBRE represented the seller, Amana-Nordstrom Inc. Sioux Falls, S.D.-based Bird Dog Equity Partners purchased the asset.
FORT WORTH, TEXAS — Bob Moore Construction Inc. has completed a 641,226-square-foot facility for TTI Inc., a Fort Worth-based distribution firm. The facility, which will serve as the company’s main office headquarters and distribution center, is located within Mercantile Center, an industrial park situated along Meacham Boulevard on the city’s north side. Bob Moore Construction broke ground on the property, which features a tilt-wall configuration and 38 loading docks, in June 2016.
HOUSTON — Stream Realty Partners has broken ground on Northwest Logistics Center, a 411,442-square-foot distribution center situated on 26 acres off North Eldridge Parkway just south of State Highway 290 in northwest Houston. Scheduled to deliver in June 2018, the cross-dock facility will feature 32-foot clear heights, an ESFR sprinkler system and additional outdoor/trailer storage space. The property is designed to accommodate users with footprints ranging from 75,000 square feet to the building’s full capacity.
GARLAND, TEXAS — JLL has arranged a 164,419-square-foot industrial lease at 3502 Regency Crest Drive in the Dallas metro of Garland on behalf of Zobele Group, an Italian product development and manufacturing firm. The company is expected to move in during the second quarter of 2018. Terry Darrow and Chris Stout of JLL represented Zobele Group in the lease negotiations. Ryan Wolcott of Stream Realty Partners represented the landlord, Stag Texas Holdings.