RANDOLPH, N.J. — Morris Habitat for Humanity has inked a lease for 33,500 square feet at 274 South Salem St., an industrial property in Randolph. The nonprofit is relocating from the nearby Mill Hill, N.J. Barry Cohorsky and Joseph Vindigni of NAI Hanson represented the tenant in the transaction. Built in 1968, the one-story industrial property totals 45,000 square feet on more than 15 acres.
HOUSTON — HFF has arranged the sale of a four-building, 515,478-square-foot industrial portfolio located in Houston. Two of the Class A properties are located within the Northwest 8 Business Park and the other two are located within the Windfern Distribution Center. The properties have an average of 93.3 percent occupancy and are leased to tenants such as Schlumberger Technology, Bayou Packaging, Core Laboratories and Specialty Rolled Metals. The buyer, Industrial Income Trust, purchased the properties free and clear of debt. Rusty Tamlyn and Trent Agnew of HFF represented the seller, a client advised by Clarion Partners, in the transaction.
HOUSTON — Arch-Con Construction has completed a 108,000-square-foot warehouse and office build-out for Eaton Corp., located at Sago Plaza in northwest Houston. The property includes a 75,000-square-foot manufacturing facility, a 25,000-square-foot office and an 8,000-square-foot training facility and demonstration room. The property is built to accommodate a five-ton jib crane and a five-ton bridge crane. Powers Brown Architecture designed the property. Jim Foreman of Cushman & Wakefield represented Sago Enterprises in the lease transaction.
BEDFORD — Marcus & Millichap has brokered the sale of the 152-unit Surrey Oaks, a multifamily property located at 3001 Crystal Spring St. in Bedford. Al Silva of Marcus & Millichap's Fort Worth office represented the seller, a private investor, and procured the buyer, Dallas-based Provident Realty Advisors, in the transaction. The buyer secured Fannie Mae financing for the acquisition. The property is currently 94 percent occupied.
SAN ANTONIO — Henry S. Miller Brokerage has arranged the sale of a 45,000-square-foot retail property, located at 8202 Sand Pebble Drive in northwest San Antonio. The property was once a 84 Lumber Store. The buyer, Dallas-based Entech Sales and Service, will use the property as its San Antonio office, which will open in the fall. Dan Spika of Henry S. Miller's Dallas/Fort Worth office represented the buyer in the transaction.
FORT WORTH — Hillwood Properties has sold 18.5 acres of land to SWBC Real Estate within AllianceTexas, Hillwood's 17,000-acre master-planned community located in Fort Worth. SWBC has plans to develop Overlook Ranch, a 318-unit, Class A apartment community at the site, located within the community's Alliance Town Center development on the northeast corner of Old Denton Road and the Texas Highway 170. The apartment community will feature a movie theater with surround sound, car wash/detail center, club house, resort-style swimming pool and spa and a fitness center. Hillwood currently has 550 multifamily units at Alliance Town Center under construction or completed, plus an additional 306 units planned to break ground in the second half of 2012. Blake Barnard of J.B. Barnard & Co. coordinated the transaction. Overlook Ranch is slated for a late 2012 groundbreaking, with pre-leasing available in early 2013.
NEWPORT BEACH, CALIF. – A 182-unit Orange County multifamily portfolio has received $10.2 million in Fannie Mae DUS loans that will be used to refinance the properties. The interest-only, fixed-rate loans boast a 10-year term and 30-year amortization period. The loan loans were arranged for the borrower, David Hurwitz, by Kristen Croxton and Greg Reed of Beech Street Capital’s Newport Beach office.
SAN DIEGO — Affiliates of Greenlaw Partners and Walton Street Capital have purchased the 198,000-square-foot South Bay Corporate Center in the San Diego submarket of National City. The office building is located at 401 Mile of Cars Way. Tony Russell of Jones Lang LaSalle and Phil Linton of Cassidy Turley represented both the buyer and the seller in this transaction.
LOS FELIZ, CALIF. — A 49-unit apartment complex in the Los Angeles submarket of Los Feliz has sold to ROM Investments for $6,025,000. The complex is located at 4623 La Mirada Ave. It was built in 1963 and is fully leased. ROM Investments was represented in-house by Leeor Maciborski. The seller, PS Investments, was represented by Henry Garcia of KW Commercial.
RANCHO CUCAMONGA, CALIF. — Reusable Container Corporation has signed a new 52-month lease for 100,000 square feet of industrial space in Rancho Cucamonga. The company, which already occupies 100,876 square feet within this center, plans to expand its manufacturing operation with the additional space. It will now fully occupy the facility, which is located at 8950 Rochester Ave. within the Rancho Technology Park. Frank Geraci, Walt Chenoweth and Juan Gutierrez of Voit’s Inland Empire office represented both the tenant and the landlord, DCT Industrial Trust, in this transaction.