PLAINFIELD, IND. — The Opus Group will begin renovation of a 280,000-square-foot industrial building in Plainfield this month. Airwest Building 9, which is in the Plainfield Business Center, is located north of I-70 near Indianapolis International Airport. Ford Motor Co. will use Airwest Building 9 as a distribution center for automotive parts. Building improvements include constructing an office area, expanding the dock capacity with new equipment and additional doors, new lighting and paint, and upgrades to the HVAC system. Construction is expected to be complete in August. Founders Properties LLC owns Airwest Building 9 and negotiated the lease with Ford Motor Co. Opus Design Build LLC managed the tenant improvement contract and will be the general contractor for the project. Opus AE Group LLC provided design services for the facility improvements.
Property Type
NEW YORK CITY — An undisclosed investor has acquired a six-story multifamily property in Brooklyn’s Crown Heights section for $15.4 million. Located at 410 Eastern Parkway, the 72-unit, 58,200-square-foot building was constructed in 1928. The building remains fully occupied by the previous owner, Bernard Miller of EPark LLC. Alex Freund of Eastern Union Funding brokered a $9.4 million acquisition loan from Customers Bank on behalf of the buyer. The loan features a 3.38 percent interest rate on a five-year term without recourse.
LATHAM, N.Y. — First Columbia is breaking ground for the development of a two-story office building in Century Hill Plaza business park in Latham. Located at 40 Century Hill Dr., the 30,000-square-foot building will be the seventh out of eleven approved buildings within the 625,000-square-foot office park. Each floor of the building will consist of 15,000 square feet of professional, high-tech space. The building will fulfill demand for Tier 1 properties in the area.
NEW YORK CITY — The residential division of Thor Equities and Rockwood Capital have acquired an apartment building at 838 West End Ave. in New York’s Upper West Side. Built in 1913, the 108,000-square-foot property features 70 units and a lobby with 20-foot ceilings. Steven Vegh of Westwood Realty Associates brokered the transaction. A private family sold the property for an undisclosed price.
BRIDGEPORT, CONN. — Deyulio Sausage Company has purchased 1501 State Street in Bridgeport for $1.35 million. The 13,715-square-foot industrial building was formerly owned and operated by Dari Farms Ice Cream Inc. The transaction also includes a 98-year land lease with the City of Bridgeport for an adjacent parcel. Jon Angel of Southport, Conn.-based Angel Commercial brokered the transaction.
NORWOOD, N.J. — Mahwah, N.J.-based GlobalSoft Digital Solutions has signed a long-term lease for 16,000 square feet at a six-building industrial complex in Norwood. GlobalSoft Digital Solutions will occupy space at 385 Chestnut St. for storage and distribution. The NAI James E. Hanson brokerage team represented the landlord, Alfred Sanzari Enterprises. Nina Bianco of NIA National Realty Inc. represented the tenant in the transaction.
FLOWER MOUND AND MANSFIELD, TEXAS — Disney Investment Group (DIG) has brokered the sale of two Dallas/Fort Worth Metroplex shopping centers for approximately $35 million. The properties include Cross Timbers Village, located in Flower Mound at the intersection of FM 1171 and Brutan Orand Blvd.; and Mansfield Pointe, located in Mansfield on the corner of Highway 287 and Debbie Lane. The 19,333-square-foot Cross Timbers Village is shadow-anchored by a Tom Thumb grocery store and is in proximity to the Wellington Estates community. The 148,529-square-foot Mansfield Pointe was 97 percent occupied by tenants including Sports Authority, Bed Bath & Beyond, PetSmart and Party City. In the sale of Cross Timbers Village, David Disney and Adam Crockett of DIG represented the seller, an entity controlled by Direct Development and Thackeray Partners, and also procured the buyer, a private buyer. In the sale of Mansfield Pointe, David Disney brokered the deal between the seller, The Retail Connection, and the buyer, Inland Real Estate Acquisitions.
DALLAS — HFF has brokered the sale of the 300-room DoubleTree Dallas – Campbell Centre. Constructed in 1980 and renovated in 2008, the full-service hotel includes 15,000 square feet of meeting space, a full-service restaurant, lobby lounge, fitness center, business center, gift shop and complimentary shuttle. Located at 8250 N. Central Expressway, the property is in proximity to the Dallas central business district, NorthPark Center Mall, the George W. Bush Presidential Library and Southern Methodist University. Bill Stadler and John Bourret led the HFF team representing the seller, a joint venture between GTIS Partners and Aimbridge Hospitality. Black Forest Ventures was the buyer.
FORT WORTH, TEXAS — Cassidy Turley has brokered a 38,550-square-foot industrial lease in Fort Worth for Southside Trim, which installs factory and aftermarket car upgrades. The tenant will occupy space at CentrePoint 4, located at 4300 Buckingham Road in the CentrePoint Business Park. Blake Anderson and David Eseke of Cassidy Turley represented Southside Trim in the negotiations.
REDWOOD CITY, CALIF. – A joint venture between the Pauls Corporation and Mount Kellett Capital Management has received a $121-million loan to develop Indigo, a 470-unit apartment building in Redwood City. The mid-rise community will be located at 525 Middlefield Road, just north of Palo Alto in Silicon Valley. Indigo will be situated mid-peninsula, allowing easy access to both San Francisco and Santa Clara counties. Construction is scheduled to commence this month. The non-recourse loan was arranged by CBRE’s Brady O’Donnell, Andrew Behrens, Jesse Weber and Mike Bryant. The four-year, floating-rate loan was secured through Wells Fargo.