Industrial

R&R Realty Completes Development of 250,000 SF Warehouse in Omaha

by Kristin Harlow October 11, 2018

OMAHA, NEB. — R&R Realty Group has completed development of a 250,000-square-foot speculative warehouse in Omaha. Warehouse 1, located at the intersection of Gold Coast Road and Highway 50, is the first warehouse to be completed within R&R Commerce Park. Three more buildings are planned within the park for a total of more than 1 million square feet. Each of the buildings will feature a clear height of 32 feet. R&R will own, manage and complete lease-up of the development. Leuder Construction served as the contractor on the project.

October 11, 2018

Indiana Industrial Loans Midwest

Subsidiary of Olympus Ventures Receives $13M Loan for Refinancing of Indiana Distribution Center

by Kristin Harlow October 11, 2018

CHARLESTOWN, IND. — 1250 Patrol Road LLC, a subsidiary of Olympus Ventures, has received a $13 million loan for the refinancing of a 314,400-square-foot distribution center in Charlestown near Louisville. J. Knipper & Co. Inc., a pharmaceutical supplier, fully occupies the building as its Midwest distribution center. Doug Seylar of CBRE arranged the 10-year loan, which features a fixed interest rate and a 30-year amortization schedule. The lender was not disclosed.

October 11, 2018

Acquisitions Illinois Industrial Midwest

Jameson Brokers $5.4M Sale of Industrial Building in Chicago’s West Loop

by Kristin Harlow October 11, 2018

CHICAGO — Jameson Commercial has brokered the sale of a 35,000-square-foot industrial building in Chicago’s West Loop for $5.4 million. The buyer, LG Development Group, plans to demolish the building and replace it with a 10-story, 166-unit apartment building. Jameson represented the seller, Fred Baker Trust. The property, located at 1214-1230 W. Jackson Blvd., was formerly home to FredEric’s Frame Studio.

October 11, 2018

Acquisitions Industrial Texas

Finial Group Acquires 85,033 SF Industrial Facility in Dallas

by Taylor Williams October 11, 2018

DALLAS — Full-service real estate firm Finial Group has acquired Westmoreland Business Center, an 85,033-square-foot light industrial facility in Dallas. The property offers convenient access to several thoroughfares, including Interstate 20. Finial Group will continue to lease and manage the property. The seller was not disclosed.

October 11, 2018

Acquisitions Industrial Property Type Southeast Virginia

RLN Acquires 184,270 SF Industrial Building in Richmond for $2.1M

by Amy Works October 10, 2018

RICHMOND, VA. — RLN Co. has purchased an industrial property located at 1500 Commerce Road in Richmond. Keck Realty sold the property to RLN for $2.1 million. The buyer plans to utilize a portion of the 184,270-square-foot facility, which is situated on 9.4 acres, as the new Rental Works headquarters while leasing out the remaining space. Rental Works is a tool rental service based in Virginia’s Henrico County. Isaac DeRegibus of Cushman & Wakefield | Thalhimer represented the seller in the deal.

October 10, 2018

Acquisitions Industrial Leasing Activity Texas

NAI Partners Arranges Sale-Leaseback of 48,765 SF Industrial Facility in Bryan

by Taylor Williams October 10, 2018

BRYAN, TEXAS — NAI Partners has arranged the sale-leaseback of a 48,765-square-foot industrial asset located at 7932 State Highway 21 W. in the Central Texas city of Bryan. Josh Lass-Sughrue, Jason Ridenbaugh and John Ferruzzo of NAI Partners represented the seller, Rod and Tubing Services, which services the oil industry. The buyer was PPL Properties LLC.

October 10, 2018

Acquisitions Industrial New Jersey Northeast

Goldstein Group Arranges $2.1M Sale of Industrial Building in Cranford, New Jersey

by David Cohen October 10, 2018

CRANFORD, N.J. — The Goldstein Group has arranged the $2.1 million sale of an industrial property in Cranford. The 1.8-acre property is located at 370 North Ave. E. and includes a vacant, 52,512-square-foot building that was built in 1955. Alan Goldstein of The Goldstein Group represented the buyer, Tulfra Real Estate, in the transaction. The seller was undisclosed.

October 10, 2018

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Arranges Sale of 22,738 SF Industrial Property in Houston

by Taylor Williams October 9, 2018

HOUSTON — Lee & Associates has arranged the sale of a 22,738-square-foot industrial property located at 5999 W. 34th St. in Houston. Chase Cribbs and Justin Cole of Lee & Associates represented the undisclosed buyer in the transaction. Joshua Lass-Sughrue and Jason Ridenbaugh of NAI Partners represented the seller, 600 Southwest Military Ltd.

October 9, 2018

Acquisitions California Industrial Self-Storage Western

Levin Johnston Arranges $27.8M Sales of Two Self-Storage Facilities in Bay Area

by Amy Works October 9, 2018

SUNNYVALE AND FREMONT, CALIF. — Levin Johnston of Marcus & Millichap has brokered the sales of two self-storage facilities in Sunnyvale and Fremont, totaling $27.8 million. Adam Levin of Levin Johnston and Jacob Becher of Marcus & Millichap represented the seller and buyers in each transaction. In the first transaction, a multifamily investor acquired a 517-unit Lock It Up Self-Storage, located at 220 W. Ahwanee Ave. in Sunnyvale. Lock It Up Self-Storage sold the property for $15.5 million. Built in 1987, the property offers 44,781 net rentable square feet and was 97 percent occupied at the time of sale. In the second deal, a high-net-worth individual purchased a 637-unit Lock It Up Self-Storage property located at 38491 Fremont Blvd. in Fremont. Constructed in 1986, the property offers a total of 54,550 net rentable square feet and six RV parking spaces. At the time of sale, the property was 94 percent occupied.

October 9, 2018

Acquisitions California Industrial Retail Western

Carleton Management Sells Industrial Building in San Diego’s East Village for $7M

by Amy Works October 9, 2018

SAN DIEGO — Carleton Management has completed the sale of an industrial asset located in downtown San Diego’s East Village. A wholly owned subsidiary of Shapery Enterprises acquired the asset for $7 million. The transaction includes a vacant, 12,000-square-foot historical building at 1460 Island Ave. and an 11,000-square-foot light industrial building at 1490 Island Ave. The historic building dates backs to 1907 and was the former Electric Laundry Co. site. The buyer plans to restore the historic building and reposition it for a commercial tenant. The adjoining light industrial building is currently occupied by Crossfit Fortius and Urbana Design Build, a general contractor. Kevin Mulhern and Rachel Parsons of the CBRE Multifamily team represented the seller, while the buyer was self-represented in the transaction.

October 9, 2018

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