REBusinessOnline

Hunt Midwest Begins Construction of 217,783 SF Industrial Building in Kansas City

KANSAS CITY, MO. — Hunt Midwest has begun construction of the third building at Hunt Midwest Business Center in Kansas City. Slated to open in March 2019, HMBC Logistics III will span 217,783 square feet with a clear height of 32 feet. The developer has also secured the necessary permits for HMBC Logistics IV, which will span 425,000 square feet with a clear height of 36 feet. The first two buildings at the park are now fully leased to Vanguard Packaging, Great Plains Packaging, Online …

Development, Industrial, Midwest, Missouri

Dayton Street Partners Buys 42,000 SF Industrial Property in Chicago for $2.8M

CHICAGO — Dayton Street Partners has acquired a 42,000-square-foot industrial property in Chicago for $2.8 million. The vacant building is situated on 1.7 acres at 2501 West Fulton St. Constructed in the 1960s, the property features a clear height of 16 feet, two loading docks, one drive-in door, parking for 50 cars and 8,000 square feet of office space. Dayton Street plans to renovate the property with new LED lighting and parking lot improvements. Scott Duerkop and Dominic Carbonari of JLL …

Acquisitions, Illinois, Industrial, Midwest

Humanscale Signs 155,000 SF Industrial Lease in Piscataway

PISCATAWAY, N.J. — Ergonomic office solutions provider Humanscale has signed a 155,000-square-foot lease at the Rockefeller Group Logistics Center, currently under construction in Piscataway. The 2.1-million-square-foot logistics center will be comprised of five buildings ranging in size from 200,000 to 725,000 square feet. Cushman & Wakefield represented the owners, Rockefeller Group and joint venture partner PCCP LLC, in the transaction. Humanscale was represented by Lennard Commercial …

Industrial, Leasing Activity, New Jersey, Northeast

Marcus & Millichap Brokers $12.7M Sale of Self-Storage Facility in Broward County

MARGATE, FLA. — Marcus & Millichap has arranged the $12.7 million sale of Life Storage, a 64,629-square-foot self-storage facility located at 5185 Coconut Creek Parkway in Margate, a city in Broward County. Brett Hatcher and Gabriel Coe of Marcus & Millichap arranged the transaction on behalf of the seller and procured the buyer. Both parties were undisclosed limited liability

Acquisitions, Florida, Industrial, Self-Storage, Southeast

Boulder Group Brokers $5.7M Sale of Property Net Leased to Insurance Auto Auctions in Fargo, North Dakota

FARGO, N.D. — The Boulder Group has arranged the sale of a single-tenant property net leased to Insurance Auto Auctions Inc. in Fargo for $5.7 million. The property is situated on 19 acres next to Hector International Airport. There are over 17 years remaining on the lease, which expires in November 2035. Randy Blankstein and Jimmy Goodman of Boulder brokered the sale. An institutional investor purchased the asset from a Southwest-based private

Acquisitions, Industrial, Midwest, North Dakota

Sukut Real Properties Buys 293,800 SF Mira Mesa Distribution Center in San Diego

SAN DIEGO — Orange County, Calif.-based Sukut Real Properties has acquired Mira Mesa Distribution Center, a multi-building distribution park located in San Diego’s Sorrento Mesa submarket. The Sickels Group sold the property for an undisclosed price. The property resides on a ground lease, which has approximately 68 years remaining. Bryce Aberg, Jeff Chiate, Jeffrey Cole, Ed Hernandez, Dean Asaro and Brant Aberg of Cushman & Wakefield’s San Diego and Orange County offices …

Acquisitions, California, Industrial, Western

Ready Capital Closes Two Loans Totaling $8.1M in California

BALDWIN PARK AND SAN FRANCISCO, CALIF. — Ready Capital Structured Finance has arranged two loans totaling $8.1 million for properties in California. In the first transaction, Ready Capital secured a $5.8 million loan for the acquisition, renovation and stabilization of a 23,000-square-foot industrial property with 3.4 acres of exterior storage space. The property is located in Baldwin Park within the San Gabriel Valley industrial submarket. The non-recourse, interest-only, floating-rate …

California, Industrial, Loans, Multifamily, Western

Ridgeline, Archway to Develop 685,400 SF Industrial Project in Metro Houston

HUMBLE, TEXAS — A partnership between Atlanta-based Ridgeline Property Group and Texas-based Archway Properties will develop Park Air 59, a 685,400-square-foot industrial project in Humble, a northeastern suburb of Houston. The cross-dock property will feature 40-foot clear heights, 153 dock-high doors, 180-foot truck court depths, 242 trailer parking spaces, 332 auto parking spaces and an ESFR sprinkler system. The groundbreaking of Park Air 59, which offers convenient access to Beltway 8, …

Acquisitions, Industrial, Texas

Hines Sells 447,605 SF Manufacturing Plant in Houston

HOUSTON — Houston-based Hines has sold a 447,605-square-foot manufacturing plant located within Greens Port Industrial Park in Houston. Situated on 41.5 acres, the property offers quick access to the Houston Ship Channel. The buyer was an undisclosed investor that acquired the property via a 1031 exchange. At the time of sale, the plant was fully leased to AFGlobal Corp., a Houston-based technology and manufacturing specialist. The sales price was also

Acquisitions, Industrial, Texas

GYS Development Opens Three-Story Self-Storage Facility in Metro Houston

PEARLAND, TEXAS — Grow Your Storage (GYS) Development, a builder of self-storage properties in Texas and the Western United States, has opened Blackhawk Self Storage, an 809-unit facility in Pearland, a southern suburb of Houston. The three-story property totals 107,000 square feet. GYS partnered with Colorado-based All Pro Capital Inc., which secured debt and equity for the

Development, Industrial, Self-Storage, Texas

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