NEWFIELD, N.Y. — Marcus & Millichap has negotiated the $3.4 million sale of Sunny’s Self Storage, a 49,550-square-foot self-storage facility in Newfield, south of Ithaca in the Finger Lakes region. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a personal trust, in the transaction. The buyer was a limited liability company. Located at 1273 W. Danby Road, the property includes a mix of climate-controlled and non-climate-controlled units. The facility was built in 2008 and renovated in 2016.
AUSTIN, TEXAS — 3M, the Minnesota-based manufacturer best known for office products like Post-It notes and Scotch tape, will close its 220,000-square-foot plant in north Austin by the end of 2019. The property will be marketed for sale once it closes. According to the Minneapolis Star Tribune, the closing will impact approximately 120 jobs, though laid-off employees can apply for positions at 3M in other locations.
FORT WORTH, TEXAS — Dematic, an Atlanta-based provider of technology and software for supply chain operators, will open a new, build-to-suit distribution center in Fort Worth. The center will be used to store, sequence and ship company equipment, modules and components. Colliers International provided site selection services, and TCRG Properties and Ironwood Realty Partners are developing the property. The opening is slated for the second quarter of 2019.
ARLINGTON, WASH. — iBorrow, a nationwide private direct lender for commercial real estate, has funded a $10.2 million loan for an industrial building in Arlington, approximately 45 miles north of Seattle. The borrower group plans to use the proceeds to fund the value-add component of the property. The 244,590-square-foot property, which features 16,108 square feet of office space, was 84 percent leased at the time of financing.
LAS VEGAS — RealComm Advisors has arranged the purchase of an industrial property located within the Martin Hinson Business Center at 6683 Schuster St. in Las Vegas. Tabs Realty acquired the property for $1.7 million. Greg Pancirov and Mike De Lew of RealComm Advisors represented the buyer in the deal.
ALSIP, ILL. — Dayton Street Partners, together with an institutional investor, has acquired a 172,000-square-foot logistics facility in Alsip for $31.5 million. The seller, Experior Transport, will lease back the building for the next 15 years. The property features 100,376 square feet of warehouse space with a clear height of 32 feet, 69 dock doors and one drive-in door. There is also a 30,000-square-foot truck maintenance facility with 12 drive-in doors and 41,624 square feet of office space. Joshua Hearne of Cawley Chicago represented the buyer. Robin Stolberg, Kurt Sarbaugh, Steve Skok and Sam Berry of HFF arranged acquisition financing on behalf of Dayton Street.
GRAND HAVEN, MICH. — Brennan Investment Group LLC has purchased a 90,121-square-foot industrial property in Grand Haven, about 33 miles west of Grand Rapids. The purchase price was not disclosed. The property serves as the headquarters and manufacturing facility for Lakeshore Fittings, which specializes in brass and aluminum machined components and fittings. The tenant has occupied the facility since its completion in 1989. The seller was not disclosed.
LA VERGNE AND NOLENSVILLE, TENN. — US Storage Centers has purchased three self-storage facilities in metro Nashville for an undisclosed price. The facilities include a 68,660-square-foot, 641-unit property at 5565 Murfreesboro Road and a 59,590-square-foot, 485-unit facility located at 211 New Paul Road in La Vergne. The third asset is a 67,113-square-foot, 528-unit property located at 2001 Johnson Industrial Blvd. in Nolensville. The properties feature climate-controlled units, ground-floor units and parking. US Storage Center was self-represented, while Ashley Compton of Colliers International’s Self Storage Group represented the undisclosed seller in the deal. US Storage Center currently owns and operates 11 self-storage facilities in Tennessee.
ELMWOOD PARK, N.J. — Marcus & Millichap has brokered the sale of a 117,000-square-foot industrial facility in Elmwood Park. The five-acre property, which is located at 1 Paul Kohner Place, sold for $10.9 million at a 6 percent capitalization rate. Donovan Mackey, Mark Taylor, David Beyel, Mitch Cowan and Joe Batres of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer was also a limited liability company.
CLINTON AND BROCKTON, MASS. — Marcus Partners has acquired the Northeast Logistics Portfolio, a three-building industrial portfolio in Clinton and Brockton. The sales price was undisclosed. The properties, which total 730,000 square feet, include 100 Adams Road in Clinton as well as 525 Campanelli Drive and 1010 West Chestnut Street in Brockton. Edward Maher, Matthew Pullen, James Tribble and Samantha Hallowell of NKF Capital Markets represented the seller, NorthBridge Partners, in the transaction.