WISCONSIN — Zilber Property Group (ZPG) has sold a portfolio of 15 industrial buildings to two private equity funds managed by High Street Realty Co. for an undisclosed price. The buildings total 1.7 million square feet and are located throughout Southeast Wisconsin and northern Illinois along the I-94 corridor. The majority of the portfolio’s assets are the product of ZPG’s development activity over the last 10 years.
ELK GROVE VILLAGE, ILL. — CA Industrial, the industrial investment and development division of CA Ventures, has broken ground on CA Elk Grove, a 146,029-square-foot speculative warehouse in Elk Grove Village. The Class A project will sit on seven acres at 550 E. Devon Ave. Slated for completion in the first quarter of 2020, CA Elk Grove will feature a clear height of 32 feet, 18 loading docks and parking for 135 cars. The new warehouse is being constructed on the site of an existing retail center. A portion of the retail space, 7,800 square feet, will remain as retail. The other portion was rezoned as industrial. Established businesses Tata’s Pierogi and La Spa Nails will be relocated to renovated space within the retail center. They will join Subway, Peking Express and Fatt Mustard Café, which will remain in their current locations. The retail property will receive a new façade, signage, roof and resurfaced parking lot. Harris Architects Inc. is the architect and Pepper Construction is the general contractor.
AUSTIN, TEXAS — Chicago-based Brennan Investment Group has sold two industrial properties totaling 84,535 square feet in Austin. The first property is located at 4120 Commercial Center Drive near Austin-Bergstrom International Airport on the southeast side. The second building is located at 9210 Cameron Drive on the northeast side. The buyer was Texas-based investment firm Stonelake Capital Partners. Both buildings were fully occupied at the time of sale.
DALLAS — Rehrig Pacific Co., which manufactures and distributes plastic products for the food and agriculture industries, has signed a 127,789-square-foot industrial lease renewal at 613-625 Mockingbird Lane in Dallas. Canon Shoults of Holt Lunsford Commercial represented the landlord, Alpha Industrial, in the lease negotiations. Craig Jones of JLL represented the tenant.
AVENEL, N.J. — Lee & Associates has brokered the sale of an 81,000-square-foot industrial warehouse in Avenel, just west of Staten Island. The property, located at 80 Essex Ave., includes 7,500 square feet of office space, 11 loading dock doors, (expandable to 19) and space for truck parking. The property offers direct access to the New Jersey Turnpike, Route 440, the Goethals Bridge and Garden State Parkway. Planned upgrades include new paving and a truck court. Crista Governara, Drew Maffey and Rick Marchisio of Lee & Associates represented the buyer, TA Realty, as well as the undisclosed seller, in the transaction.
ORLANDO, FLA. — Metro Storage LLC has acquired a two-story, 641-unit self-storage facility in Orlando. The building spans 62,607 square feet. It was delivered in February 2018 at 7500 W. Colonial Drive. The property offers interior climate-controlled units, exterior drive-up storage units, outdoor RV and boat/car parking, covered loading and unloading access, wide asphalt driveways, security cameras, and access keypad controls. Metro Storage now owns two facilities in Orlando and 24 in Florida. The seller and sales price were not disclosed.
IRVINE, CALIF. — Rockefeller Group has completed the sale of a newly constructed cross-dock industrial building located at 1445 S. Tippecanoe Ave. within the Tri-City Industrial Complex in Irvine. Nuveen Real Estate acquired the 344,249-square-foot facility for an undisclosed price. At the time of sale, the property was fully leased to Home Chef, a division of Kroger, and Protempo, a global third-party logistics provider. Jeff Chiate, Jeffrey Cole, Mike Adey, Ed Hernandez, Chuck Belden, Kyle Kehner, Milo Lipson and Tim Pimentel of Cushman & Wakefield represented the seller in the deal.
NORTH LAS VEGAS, NEV. — Alston Construction, as general contractor, has completed Centennial Commerce Center, located at 6405 E. Centennial Parkway in North Las Vegas. Situated on 10.4 acres, the facility features 213,000 square feet of speculative industrial space. Centennial Commerce Center features cross-dock industrial warehouse space, 32-foot clear heights, ESFR sprinklers, LED warehouse lighting and flexible office build-outs. Valued at $16 million, the property was designed with flexibility to accommodate up to four 51,000-square-foot tenants. Speedway 10 Industrial LLC owns Centennial Commerce Center.
IOWA — Eastern Union has arranged $17.9 million in acquisition financing for the Magna International portfolio, a collection of four automobile parts manufacturing facilities spanning 600,000 square feet throughout Iowa. Toronto-based Granite REIT America sold the portfolio to New York-based Beau Pere Real Estate LLC. Abe Kolman of Eastern Union arranged two loans with Bank of the West. The loan-to-value ratio was 75 percent.
INDIANAPOLIS — Sansone Group, in partnership with CenterSquare Investment Management, has acquired a 424,849-square-foot industrial building located at 7520 Georgetown Road in Indianapolis. The purchase price was not disclosed. The property is part of a larger master-planned industrial park. The building features 19,417 square feet of office space, 37 dock doors, 43 trailer parking stalls and 594 car parking spaces. Vince Bajardi and Jake Corrigan of St. Louis-based Sansone represented the company in the purchase. Matt Kiger of Newmark Knight Frank and Conrad Jacobs of Halakar Commercial Real Estate brokered the transaction. Duke Secured Financing 2009-1ALZ LLC was the seller.