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Industrial

Keystone Equities, Normandy Real Estate Buys Industrial Building in Queens for $39.1M

NEW YORK CITY — A joint venture partnership between Keystone Equities and Normandy Real Estate Partners has acquired an industrial building located at 25-11 49th Ave. in the Long Island City neighborhood of Queens. Howard Weinstein and Scott Weinstein, owners of Candid Litho printing, sold the property for $39.1 million. The 109,200-square-foot property is zoned M1-4, which allows for a range of community facility, commercial and light manufacturing uses. The buyer plans to convert the..

February 23, 2018

Liberty Street Realty Sells 41,000 SF Warehouse in Little Ferry, New Jersey

LITTLE FERRY, N.J. — Liberty Street Realty has completed the disposition of a vacant warehouse, located at 200 Liberty St. in Little Ferry. Stamford, Conn.-based Hartford Realty Corp. acquired the property for an undisclosed price. The buyer plans to redevelop the site and construct a 15,655-square-foot CVS/pharmacy at the location. Gary Sauerborn of NAI James E. Hanson represented the seller in the transaction.

February 23, 2018

ViaWest Group Acquires Three Industrial Buildings in Phoenix for $34.2M

PHOENIX — ViaWest Group has purchased three buildings at Blackhawk Corporate Center in Phoenix for $34.2 million. The buildings are located at 20401 N. 29th Ave., 2902 and 3010 W. Agua Fria Freeway. The complex was built in 1997 and 1998. Darren Tappen and Peter Beauchamp of Kidder Mathews and Ryan Timpani of Colliers International, the project’s leasing agent, represented both parties in the transaction. The seller was Cohen Equities.

February 23, 2018

Regent Commercial Holdings Buys Industrial Building in North Hollywood for $6.1M

NORTH HOLLYWOOD, CALIF. — Regent Commercial Holdings has acquired a 33,505-square-foot industrial building in North Hollywood for $6.1 million. The building is located at 13401-13431 Saticoy St. The asset is fully leased. The property features units ranging from 1,800 square feet to 8,600 square feet along with gated and open parking. It was built in 1975. Scott Caswell of Lee & Associates-LA North/Ventura represented both the buyer and seller in this transaction.

February 23, 2018

M. David Properties Acquires 30-Acre Site in Charlotte to Build 300,000 SF Industrial Park

CHARLOTTE, N.C. — M. David Properties has acquired a 30-acre site at the intersection of Hucks and Old Statesville roads in Charlotte, with plans to develop a 300,000-square-foot industrial park dubbed SilverPark North. Matthew Greer of JLL arranged the transaction on behalf of the seller, Kathy Godley, while JLL’s Brad Cherry and Pete Pittroff represented M. David Properties. SilverPark North will include three buildings, the first of which will be a 136,000-square-foot speculative..

February 23, 2018

Hillwood to Develop 1 MSF Industrial Facilty at AllianceTexas in Fort Worth

FORT WORTH, TEXAS — Hillwood will develop Alliance Northport 3, an industrial facility totaling approximately 1 million square feet that will be situated on a 260-acre site within the AllianceTexas master-planned community in Fort Worth. The property, which offers convenient access to Interstate 35 and State Highway 114, is being built on a speculative basis. The site will be able to accommodate more than 12 million square feet of space and provide additional trailer storage when fully..

February 23, 2018

Lee & Associates Negotiates 68,645 SF Industrial Lease Near DFW Airport

FORT WORTH, TEXAS — Lee & Associates has negotiated a 68,645-square-foot industrial lease at 4300 Diplomacy Road in Fort Worth, just south of the Dallas-Fort Worth (DFW) International Airport. Reed Parker of Lee & Associates represented the tenant, environmental consulting firm Green Planet 21. Gil Stroube of Lincoln Property Co. represented the landlord, Denali Texas Diplomacy Industrial.  

February 23, 2018

Midwest Industrial Funds Acquires 49,000 SF Multi-Tenant Building in Plainfield, Illinois

PLAINFIELD, ILL. — Midwest Industrial Funds has acquired a 49,000-square-foot industrial building in Plainfield, located 38 miles southwest of Chicago, for an undisclosed price. The multi-tenant property is situated on 3.7 acres at 24317 W. 143rd St. Constructed in 2007, the building features a clear height of 26 feet, eight exterior loading docks, eight grade-level doors, parking for 71 cars and an ESFR fire suppression system. The property was 88 percent leased to five tenants at the time..

February 23, 2018

Tenant Demands Changing in Austin Industrial Market

The story of industrial real estate today, at least in terms of national media coverage, centers around compressing cap rates and the steady stream of capital flowing into the sector. But in Austin — the kid brother of two major industrial markets, Dallas and Houston — the story over the past 12 months has been the large increase in the volume of industrial construction. Austin delivered 3.1 million square feet of industrial product in 2017, a 55 percent increase over the total space..

February 23, 2018

Bellomy Brokers Sale of 1,111-Unit Self-Storage Facility in Dallas

DALLAS — Bellomy & Co. has brokered the sale of a CubeSmart self-storage facility located at 5505 Maple Ave. in the Oak Lawn area of Dallas. The Class A facility, which opened in March 2017, consists of 1,111 units across 100,239 net rentable square feet. Approximately 91 percent of the units are climate-controlled. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. represented the seller, Dallas-based Platinum Construction, in the transaction. The Bellomy team also..

February 22, 2018