REDLANDS, CALIF. — Innotrac Corporation will debut its newest direct-to-consumer fulfillment center next month in Redlands. The 300,000-square-foot facility is located at 26763 San Bernardino Ave. This will be the fulfillment services provider’s ninth U.S. facility. Innotrac plans to open a tenth location in Chicago this summer. The company’s clients have included Target, Groupon, P90X, AT&T, Rainbow, Ann Taylor, Ferrari and Porsche.
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SALT LAKE CITY — Industrial Income Trust (IIT) has acquired Westport Distribution III, a 415,000-square-foot industrial bulk distribution facility in Salt Lake City, for an undisclosed sum. The facility will be located at 6050 West 700 South. IIT acquired Westport Distribution I & II in February 2013 for $47.5 million. The buildings total more than 750,000 square feet. The trust was represented by Zach Anderson and Bryce Blanchard of Newmark Grubb ACRES in this latest transaction. Mike Falk and Steve Condie of the same firm represented the seller, Buzz Oates Real Estate.
FULLERTON, CALIF. — Crossroads Shopping Center, a 220,000-square-foot, grocery-anchored retail center in Fullerton, has received a $26-million loan. The center is located at 3200-3362 East Yorba Linda Blvd. It is anchored by Ralph’s and Kohl’s. Other notable tenants include Starbucks and Union Bank. The 10-year mortgage features a fixed rate of 4.73 percent and interest-only payments for the full term. It was arranged by Seth K. Grossman and Sarah Kuebler of Meridian Capital Group’s Carlsbad office. Financing was provided by a CMBS lender.
LOS ANGELES – Atlas LA 4th St. LLC has purchased a former Coca-Cola production facility in Los Angeles for $19 million. The 123,600-square-foot facility is located at 963 East 4th Street in the city’s Arts District. It was originally constructed in 1915. The new owner plans to convert the building into creative office and retail space. It served as the West Coast headquarters for Coca-Cola until 1923. It was used as a production facility after that. The building’s last occupant was T.T. Toys. The LLC was represented by Mollie Dietsch and Matthew Artukovich of Lee & Associates Central Los Angeles’ Commerce office. CBRE represented the seller, Harmony Investments, in this transaction.
ATLANTA — Following the renovations of Lenox Square, Simon Property Group Inc. will implement a facelift of Phipps Plaza, an upscale mall in Atlanta’s Buckhead district. Phase I will include an extensive interior makeover, featuring upgraded LED lighting, new paint scheme, new wood accents, an updated railing system, luxury lounging areas with Wi-Fi connectivity and chargers, upgraded restrooms and a new concierge service center. Additionally, Simon will make major improvements to the parking decks and entrances. Construction is slated to begin this summer and wrap up before the holiday shopping season. Future renovations will include improvements to the mall’s Peachtree Road entrance, a new streetscape with storefronts and landscape improvements. New additions to the mall include 320 luxury residential units and a 164-room hotel with upscale dining.
CHARLOTTE, N.C. — Terwilliger Pappas Multifamily Partners has begun construction on Solis Dilworth, a 184-unit luxury apartment community in Charlotte. The multifamily property will be located on Morehead Street at Kenilworth Avenue, near the Carolina Medical Center, Uptown Charlotte, the Little Sugar Creek Greenway and the merchants and eateries lining East Boulevard. The property will feature a central courtyard with a resort-style saltwater pool and cabana. Other amenities will include a lounge and game room, fitness center, yoga room and pet exercise/grooming facilities. The project team for the development includes architect Rule Joy Trammell + Rubio, landscape architect Cole Jenest Stone and general contractor Adolfson & Peterson Construction.
SANDY SPRINGS, GA. — Franklin Street Real Estate Services has arranged the $10.9 million sale of Powers Ferry Shopping Center in Sandy Springs, a northern suburb of Atlanta. The two-story shopping center is anchored by CVS/pharmacy and includes a Subway and Bruegger’s Bagels. The asset was 85 percent leased at the time of the sale. Mac McCall and John Tennant of Franklin Street represented the seller, a local partnership that originally developed the property. The buyer was a 1031 exchange investor based in New York.
GAINESVILLE, FLA. — MedProperties Holdings LLC and Equity Inc. are partnering to build a replacement skilled nursing center for the Gainesville Health Care Center, located at 4816 S.W. Archer Road in Gainesville. The nonprofit company Gainesville Council on Aging will lease the entire 97,000-square-foot, 180-bed facility, which MedProperties and Equity will jointly own. The new property will offer short-term rehabilitation, long-term care, memory care, palliative care and hospice care. Construction is slated to last 12 to 14 months.
LOUISVILLE, KY. — HREC Investment Advisors has arranged the sale of the 271-room Holiday Inn Louisville East in Louisville. Lakshmi Narayan Hospitality Group Louisville LLC purchased the asset from a national special servicer for an undisclosed price. Monty Levy, Tom Sommer and Scott Stephens of HREC represented the seller in the transaction.
ROMEOVILLE, ILL. — Magid Glove & Safety Manufacturing Co. LLC, a supplier of safety equipment, has acquired a 703,973-square-foot industrial building from Venture One Real Estate. The purchase price was undisclosed. The property is located at 1300 Naperville Drive in Romeoville, approximately 30 miles southwest of Chicago. Magid Glove & Safety will combine the operations of two Chicago plants into one larger, modern headquarters, manufacturing and distribution facility. The building features 100,000 square feet of office space, a partially air-conditioned warehouse, more than 250 trailer stalls, 24-foot clear ceiling heights and heavy power. Brad Weiner and Whit Heitman of Cushman & Wakefield along with Jeff Girling and Terry Lynch of Paine/Wetzel represented the buyer, Magid Glove & Safety, in the transaction. Jason West and Sean Henrick of Cushman & Wakefield represented the seller, Venture One Real Estate.