WILDWOOD, FLA. — Marcus & Millichap has arranged the $7.9 million sale of My Garage | Self-Storage & Flex Warehouses, a 98,350-square-foot self-storage facility in Wildwood. The property is located at 5626 C Thomas Road, 50 miles northwest of downtown Orlando. David Vaughan and Ray Turchi of Marcus & Millichap represented the undisclosed private seller in the transaction. The buyer was also not disclosed.
EAST GREENWICH, N.J. — A joint venture between Pacific Coast Capital Partners LLC (PCCP) and CRG is underway on development of The Cubes at East Greenwich, a two-building, Class A industrial warehouse project totaling 535,790 square feet in East Greenwich, a southern suburb of Philadelphia. The first building, located at 100 Huff Road, will comprise a 283,040-square-foot structure with 36-foot clear heights, 43 exterior docks, two drive-in doors, 60 trailer parking spaces and a 130-foot truck court. The second building, located at 191 Harmony Road, will consist of a 252,750-square-foot structure with 36-foot clear heights, 38 exterior docks, two drive-in doors, 79 trailer parking spaces and a 130-foot truck court. Construction of both buildings, which are being developed on a speculative basis, is slated for completion in the third quarter of 2020.
PLANO, TEXAS — CBRE has negotiated a 154,097-square-foot industrial and office lease at 600 Shiloh Road in Plano for Inogen, a manufacturer of oxygen therapy products and services. The company will consolidate its existing Texas facilities into the new space, which allows for approximately 90,000 square feet for manufacturing operations and 60,000 square feet for the call center. The property’s current tenant, Flextronics, will vacate the space at the end of the year. Inogen plans to occupy the facility in early 2020. Baron Aldrine, Campbell Puckett, Dennis Hearst and Bryan Bazzi of CBRE represented Inogen in the lease negotiations. John Hendricks, also with CBRE, represented the landlord, Trident Capital Group.
HOUSTON — Colliers International has brokered the sale of a 151,260-square-foot distribution center at 12614 Hempstead Highway in Houston. Ryan Byrd and Walker Barnett of Colliers represented the seller, STAG Houston 3 LP, in the transaction. Jason Tangen, also with Colliers, represented the buyer, NIT Industrial. The new ownership, which has now acquired two properties in Houston in the last six months, plans to make capital improvements to the asset.
HOUSTON — NAI Partners has secured a 27,925-square-foot industrial lease for Texas Southwest Floors Inc., at 1350 Salford Drive in Houston. Chris Kugle of NAI Partners represented the tenant, which provides flooring and granite services for new residential and commercial projects, in the lease negotiations. Ed Bane and Jon Michael of Bridge Commercial Real Estate represented the landlord.
BLOOMINGTON, ILL. — Marcus & Millichap has negotiated the sale of U-Lock-It Mini Storage, a 553-unit self-storage facility in Bloomington. The sales price was not disclosed. The property is located at 2427 S. Main St. and spans 69,110 square feet on 6.3 acres. Of the 553 units, 441 are non-climate-controlled and 112 are climate-controlled. Sean Delaney of Marcus & Millichap marketed the property on behalf of the seller, a private investor. Delaney also secured and represented the buyer, a limited liability company.
RICHMOND, VA. — Cushman & Wakefield has arranged the $60.3 million sale-leaseback of a seven-property national industrial portfolio on behalf of owner and seller The C.F. Sauer Co. The seven properties total 791,000 square feet. There are four buildings in Mauldin, S.C.; one in Orange, Fla.; one in San Luis Obispo, Calif.; and one in New Century, Kan. Ben Cooper, Larry Wilks, Keith Bell and Ben Pugh of Cushman & Wakefield represented Richmond-based C.F. Sauer, which is now controlled by the private equity partnership Falfurrias Capital Partners and operates as Sauer Brands. A public REIT acquired six of the properties while a separate public REIT purchased the remaining building. Sauer Brands manufactures a broad line of flavor-enhancing condiments, spices, seasonings and extracts, including well-known brands Duke’s Mayonnaise, The Spice Hunter, Sauer’s, Gold Medal and BAMA.
PISCATAWAY, N.J. — Rockefeller Group has opened Rockefeller Group Logistics center, a 2.1 million-square-foot industrial park in Piscataway, a southwestern suburb of New York City. The property comprises five buildings, the largest of which is a 725,000-square-foot distribution center with 36-foot clear ceiling heights preleased to Best Buy. Other tenants include Fujitsu General America Inc., Humanscale, KISS Products, SHI and Kuehne + Nagel.
JERSEY CITY, N.J. — CT Realty has completed construction of a 95,808-square-foot industrial facility in Jersey City, an eastern suburb of New York City. The property, located at 79 Thomas McGovern Drive, offers 36-foot ceiling heights, eight dock doors and approximately 2,000 square feet of office space. CBRE is leasing the property on behalf of CT Realty.
OKLAHOMA CITY — CBRE has brokered the sale of a 157,000-square-foot industrial facility located on 18 acres near Interstates 35 and 240 in Oklahoma City. The buyer, Spiers New Technologies, a provider of services for advanced battery packs used in hybrid and electric car charging, occupies four buildings across the city and will consolidate its operations to the new facility. The site has the capacity to house more than 200,000 square feet of additional office and manufacturing space. Jason Hammock, Caitlin Mazaheri and John Lenochan of CBRE represented Spiers in the transaction. Allan Meadors of Cushman & Wakefield represented the undisclosed seller.