COLTON, CALIF. — C.R. England has signed a 10-year lease for a 34.36-acre truck terminal property in Colton. The lease is valued at $14.5 million. The property is located at 2250 S. Riverside Ave. It is situated near Interstates 10 and 215, as well as Highway 60. Additional tenants in the area include Fed Ex, Cooper Lighting, Simpson Manufacturing, Exel Logistics, Bob Hubbard Transportation, Pro Build, Razor Scooters and Living Spaces.C.R. England, which is the largest temperature-controlled carrier in the world, will be expanding from its nearby Mira Loma location. The carrier was represented by Jeff Smith and Ryan Lal of Lee & Associates’ Ontario office. The landlord is Heitman Financial.
FLORENCE, KY. — Air cargo carrier company Southern Air opened its new headquarters in Florence near the Cincinnati/Northern Kentucky International Airport, which is expected to create up to 150 jobs. The company carries freight for international freight giant DHL in the project. The Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $2.7 million through the Kentucky Business Investment program.
ATLANTA — Carter, an Atlanta-based real estate investment, development and advisory firm, has been selected to provide program and project management services for three colleges in Georgia — Agnes Scott College, Berry College and Spelman College. At Agnes Scott College, Carter will guide the design and construction for the renovation of Campbell Hall, a four-story former science building. The 51,450-square-foot building will be transformed into a living and learning center, which will include student housing, academic classrooms and meeting spaces. For Berry College, Carter is currently working on project management for the renovation of the Richards Memorial Gymnasium, which will include offices for Berry College athletic teams, a 4,000-square-foot weight room, a 3,000-square-foot locker room, grass practice fields and an indoor practice/training facility. Carter has also been working with Berry on an athletic stadium for its new NCAA Division III football program. In Atlanta, Spelman College selected Carter as a program manager to oversee the redevelopment of the 53,000-square-foot Read Hall into a wellness center. The program is part of Spelman's Wellness Revolution, and includes a new gym, four-lane swimming pool, wellness classroom and teaching kitchen, multipurpose rooms for fitness activities, an indoor track, lockers and administrative offices. The new …
MYRTLE BEACH, S.C. — Fred Ross Jr. of Dickinson, Logan, Todd & Barber Inc. has arranged a $30 million loan for the 227-room Hampton Inn & Suites Oceanfront Resort in Myrtle Beach. A New York City-based CMBS lender provided the loan to the borrower, SC LLC. The 10-year loan features a 25-year amortization schedule.
MORRISVILLE, N.C. — Grace Park, a mixed-use development in Morrisville, is nearing 100 percent occupancy. The center includes 128 apartments, 52 townhomes and 90,000 square feet of ground-floor and outparcel retail. The residences are 98 percent occupied and 90 percent of the retail space has been leased. Some of the new retail tenants include Trali Irish Pub, which leased 4,100 square feet; Health Station, which will occupy 1,500 square feet; Ladders Teaching Supply Store, which will occupy 1,500 square feet; and Mare, an Italian restaurant that recently leased 3,200 square feet. In addition, the Discovery Child Development Center will relocate and expand to a new 8,500-square-foot building on the remaining outparcel retail site by the end of 2013. Current retail tenants include Starbucks, 5 Hot Chilies, Edward Jones, Peppers Market and Pristine Auto Spa. The Kalikow Group and EYC Cos. developed the property.
BIRMINGHAM, ALA. — Saddle Creek Logistics Services has opened a new, 225,000-square-foot industrial facility in Birmingham. The company moved its operations in Atlanta into the new rail-served, food-grade warehouse. Operations at the facility began in February. Ogden Deaton of Graham & Co. and Ladson Montgomery of Grubb & Ellis | Phoenix Realty Group brokered the deal.
DELAFIELD, WIS. — Ramco-Gershenson Properties Trust has acquired a 106,000-square-foot shopping center in Delafield, located about 25 miles west of Milwaukee, for $22.7 million. The purchase includes the assumption of a $9.3 million mortgage loan, which carries an interest rate of 5.8 percent maturing in 2026. A 38,000-square-foot Marshalls and a 40,000-square-foot Sports Authority anchor the property, which is the second phase of Ramco-Gershenson’s Nagawaukee Center. Ramco-Gershenson has owned the first phase of Nagawaukee Center, anchored by an 81,000-square-foot Kohl’s and a 60,000-square-foot Sentry Market, since June 2012. Nagawaukee Center is located at the northeast quadrant of I-94 and Highway 83.
KANSAS CITY, MO. — NorthMarq Capital has arranged the $11.7 million first mortgage for the refinancing of Cold Storage Lofts, a renovated 224-unit affordable housing property located at 500 E. 3rd St. in Kansas City. The six-story building was constructed in 1922 as a refrigerated warehouse and converted to loft-style apartments in 2007. The property features underground parking with a rooftop swimming pool and jogging track. Financing was based on a 10-year term and a 30-year amortization schedule. Greg Duvall of NorthMarq’s Kansas City office arranged the financing for the borrower through Freddie Mac’s Targeted Affordable Housing Program.
CHICAGO — Global law firm Dentons has extended its lease at Willis Tower in Chicago for 15 years. Dentons will relocate within the building and occupy 144,000 square feet of new space. Willis Tower is a 4.5 million-square-foot office/retail building in Chicago. The building is home to more than 100 different companies, including the global headquarters of United Airlines. Dentons is the world’s seventh-largest law firm with 2,500 lawyers. Mike Kazmierczak, Derek Rolison and Bob Wislow of U.S. Equities Asset Management represented 233 S. Wacker Drive LLC, the building’s owner, in the transaction. Stuart Eisenkraft, Andrew Sussman, Lewis Miller, Patrick Nelson, Paul Stimpfle, Todd Lippman and Lisa Konieczka of CBRE represented Dentons. U.S. Equities Asset Management has managed leasing at the iconic Chicago building since 2007.
EAGAN, MINN. — Chicago Tube & Iron in Eagan has awarded Opus Design Build LLC a contract to construct a 40,000-square-foot warehouse addition. The project is scheduled to break ground in May and be completed in the fall. As well as the expansion, Opus also will complete interior renovations, refinish the front entrance of the building and add a new canopy to reflect the exterior design of other Chicago Tube & Iron facilities. The property is located at 2940 Eagandale Blvd., about 15 miles south of Minneapolis. Opus AE Group LLC will be responsible for structural and architectural design. MFRA Inc. will perform civil engineering and landscaping and Hallberg Engineering will provide the mechanical and electrical design services.