SOUTH BRUNSWICK, N.J. — Lee & Associates New Jersey has secured a 526,400-square-foot industrial lease for XPO Logistics in South Brunswick. Lee & Associates represented XPO Logistics in securing a long term lease with owner Prologis. The property is located at 115 Interstate Boulevard and previously served as the Tory Burch Distribution Center.
CARLSTADT, N.J. — Terreno Realty Corp. has acquired a 24,000-square-foot industrial property in Carlstadt for $3.5 million. Located at 130 Commerce Road, the property is less than two miles north of the Meadowlands Sports Complex and features four dock-high loading positions as well as parking for 20 cars. The property is currently fully leased to one tenant, Metrovision Production Group. The seller was undisclosed.
ROMEOVILLE, ILL. — RJW Transport has signed a 416,504-square-foot industrial lease at 50 Southcreek Parkway in Romeoville. This is the third major lease for RJW this year for a combined total of 1.2 million square feet. The trucking and logistics company previously signed leases in Woodridge and Bolingbrook. Dominic Carbonari of JLL represented RJW in its latest lease. The landlord was not disclosed.
HOUSTON — A partnership between Cushman & Wakefield and JLL has arranged the sale of a 797-unit self-storage facility located at 5321 Richmond Ave. in the Galleria-Uptown area of Houston. The property was sold in conjunction with an 849-unit facility in Los Angeles. The two properties feature more than 158,000 square feet. Greg Wells of Cushman & Wakefield and Steve Mellon of JLL represented the seller, California-based Cardiff Mason Development, in the transaction. The buyer was an undisclosed, national owner/operator.
SEATTLE — Westcore Properties has completed the sale of a single-tenant industrial building in Seattle’s Georgetown submarket. Talon Private Capital acquired the property for $14.5 million, or $193.21 per square foot. OpenSquare, a provider of office space workstations and furniture for corporate users, fully occupies the 75,048-square-foot property, which is located at 303 S. River St. Andy Miller of Kidder Mathews, along with Mike Roy and Kevin Skillestad of Neil Walter Co., represented the seller in the deal.
CITY OF INDUSTRY, CALIF. — DAUM Commercial Real Estate Services has arranged the sale of an industrial facility located at 13260-13280 E. Amar Road in City of Industry, a suburb 22 miles from downtown Los Angeles. Oak Brook, Ill.-based CenterPoint Properties acquired the 93,818-square-foot property for an undisclosed price. Situated on a 6.2-acre site, the building features 24 dock-high loading doors, more than 5,000 square feet of office space, 22-foot clear heights, 56 additional trailer stalls with more than 100-trailer storage capability and three drive-in bays, as well as Union Pacific rail service. CenterPoint plans to invest $2.5 million in renovations to upgrade the asset, which was built in the 1960s. Renovations will include creating a best-in-class, secure, lit and paved yard, updating the façade and modernizing the building systems. Rudy Lara and Nathan Lara of DAUM’s Inland Empire office represented the buyer in the off-market transaction.
JACKSONVILLE, FLA. — Savlan Capital has purchased Exchange South, a multi-tenant flex business property on Philips Highway in Jacksonville’s Southside. An undisclosed seller sold the property for $18.3 million, or $94 per square foot. Built from 1990 through 1996, the 194,400-square-foot building features 16 dock-high doors and 35 drive-in doors. At the time of acquisition, the property was 75 percent leased to 25 tenants, including Omnicare, Univar, ALS Group, Orion Energy Systems, Schindler Elevators, Konica Minolta, Lab Corp. and LendingTree. Savlan Capital plans to invest $2 million in upgrades to the property to improve the interiors of vacant units, exterior repainting and upgraded landscaping and curb appeal. Keith Goldfaden and Christian Harden of NAI Hallmark were retained to lead the leasing initiative for the property.
SPARTANBURG, S.C. — Courtland Group has received $19.5 million in construction financing, as well as joint venture equity from JDI Realty, for the development of Fort Prince Distribution Center, a bulk industrial warehouse building in Spartanburg. Travis Anderson, Chris Norvell, Cory Fowler, Trent Niederberger and Patrick Nally of HFF arranged the joint venture equity and placed the five-year construction loan with CrossHarbor Capital Partners on behalf of Courtland Group. The 436,800-square-foot Fort Prince Distribution Center will feature 36-foot clear heights, 66 dock doors and two automatic drive-in doors in a cross-dock configuration. Situated on 56 acres in the city’s West Side industrial submarket, the property’s location offers access to interstate 85 and 26, enabling tenants to reach more than 95 million consumers within a day’s drive and direct interstate access to import/export goods through the Port of Charleston.
COLUMBUS, TEXAS — Chicago-based Brennan Investment Group LLC has acquired a nine-building manufacturing campus situated on 15 acres at 200 Texas Ave. in Columbus, about 75 miles west of Houston. The properties were 100 percent leased to KW International, which produces oil and gas production and measurement equipment, at the time of sale. Brennan will lease back the space to the tenant, which houses its headquarters at the property.
GARLAND, TEXAS — Plastipak Packaging, a Michigan-based supplier of plastic bottles to companies such as Dr. Pepper, PepsiCo and Kraft Heinz, will invest $10 million in its production facility in Garland, a northeastern suburb of Dallas. The expansion of the plant, which spans roughly 400,000 square feet and has been operational since 1996, is expected to create six new jobs.
