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Wednesday, January 07, 2009 Industrial
Heritage Capital Group LLC, in a joint venture with Barrow Street Capital LLC and Greenfield Partners LLC, has purchased three distribution centers from KB Toys in a deal worth $77.5 million. Thomas Consiglio of Resource Realty brokered the deal for KB Toys. The properties are located in Clinton, N.J. (730,000 square feet); Glendale, Ariz. (620,000 square feet); and Montgomery, Ala. (840,000 square feet). Jon Mikula of Holliday Fenoglio Fowler secured debt financing through Capmark Financial Group, and together with HFF Securities arranged the equity partnership on behalf of Heritage Capital Group. KB Toys has leased back the entire portfolio and will vacate the Montgomery property but will remain in the Clinton and Glendale buildings. Consiglio recently represented The Children's Place in the lease of a 526,400 square foot facility at Turnpike Crossing I, 115 Interstate Boulevard in South Brunswick, N.J. Based in Ridgewood, N.J., Heritage Capital Group serves as the investment arm of a larger real estate organization that also includes Heritage Management Company, which owns and manages nearly 6.5 million square feet of diversified commercial product in the United States Greenfield Partners is a South Norwalk, Conn.-based commercial real estate investment firm. Founded in 1997, Barrow Street Capital is an independent real estate investment manager with offices in Connecticut, New York and Los Angeles. Resource Realty is a New Jersey-based commercial real estate brokerage firm. Address: 111 Cokesbury Rd., Clinton, N.J. 7811 North Glen Harbor Blvd., Glendale, Ariz. 4919 Westport Blvd., Montgomery, Ala. Size: 2.2 million square feet Filed Under: Industrial E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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