DALLAS — Illinois-based investment firm ML Realty Partners has acquired a 185,220-square-foot industrial building located at 7601 Ambassador Row in Dallas. Situated in the Brookhollow submarket with convenient access to Interstate 35 and State Highway 183, the distribution-oriented property was fully leased at the time of sale to two long-term tenants. The seller was not disclosed.
AUSTIN, TEXAS — NitNeil Partners, an Atlanta-based self-storage investment and development firm, has acquired land in Austin for the construction of a 900-unit, 100,000-square-foot self-storage facility. The four-story property, which will be located about three miles from downtown Austin, is scheduled to break ground during the first quarter of 2019 and to be delivered by early 2020. The project marks NitNeil’s first investment in Texas.
EL PASO, TEXAS — CBRE has negotiated an 80,269-square-foot industrial lease renewal at 14 Butterfield Trail Blvd. in El Paso. The warehouse/distribution facility services the Ciudad Juarez manufacturing operations of the tenant, Key Tronic Corp., a Washington-based provider of fully assembled computers and their parts. Chad McCleskey and Christian Giese of CBRE represented the landlord, Elp Butterfield 14 LLC, in the lease negotiations.
MCCOOK, ILL. — Assemblers Inc. has renewed its lease for 353,322 square feet of industrial space in McCook, a southwestern suburb of Chicago. The private assembly and contract packaging company fully leases the building at 8601 W. 47th St. The company has occupied the space since 2016. Built in 2015, the property features a clear height of 32 feet. Geoffrey Kasselman of Newmark Knight Frank negotiated the lease transaction, which included tenant improvements such as more power to support additional cooler and freezer areas, on behalf of Assemblers. Heitman Capital Management is the landlord.
PISCATAWAY, N.J.— Cushman & Wakefield has brokered the sale of an 88,000-square-foot industrial building in Piscataway. The sales price was undisclosed. Jason Barton, Chuck Fern, Tom Tucci and Stephen Shoemaker of Cushman & Wakefield represented the seller, S.S. White Technologies Inc., a manufacturer of aerospace parts, in the transaction. The buyer was N.J. CRR LLC. The property is located at 151 Old New Brunswick Road.
ANNA, TEXAS — Marcus & Millichap has arranged the sale of Affordable Self-Storage, a 51,555-square-foot facility in Anna, about 45 miles north of downtown Dallas. Built in stages between 2004 and 2015, the property consists of 76 climate-controlled units, 312 non-climate-controlled units, 36 boat/RV units and 63 uncovered parking spaces. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a private investor. The buyer was a local self-storage owner-operator. Both parties requested anonymity.
SANGER, TEXAS — Bob Moore Construction has started work on a 142,000-square-foot industrial facility for Ohio-based freight company R+L Carriers in Sanger, located near the Texas-Oklahoma border. The property will serve as R+L Carriers’ new truck terminal as the company streamlines its Texas operations. The project is expected to create 200 jobs over the next five years. A timeline for completion was not released.
ITASCA, ILL. — Bridge Development Partners LLC has purchased a 48-acre vacant land site in Itasca with plans to develop Bridge Point Itasca, a three-building industrial property. Spanning 741,621 square feet, the buildings will be designed to accommodate single users or multiple tenants with a clear height of 32 feet. In addition to the industrial buildings, the development will include more than seven acres of land zoned for retail use. Chris Nelson of Lee & Associates represented Bridge and its joint venture partner, Banner Oak Capital Partners LP, in the land transaction. Lee & Associates will market the property for lease. The seller, Entercom Communications Corp., acquired the site in a merger with CBS Radio in November 2017. Terms of the sale were not disclosed.
ST. PAUL, MINN. — Marcus & Millichap has brokered the sale of an 87,044-square-foot industrial property in St. Paul for $4.6 million. Located at 195-215 Sycamore St., the property includes two freestanding warehouses with a fully paved and fenced outside storage space. Sean O’Brien and John Godwin of Marcus & Millichap marketed the property on behalf of the seller, a private investor. An out-of-state investor was the buyer. O’Brien also assisted the seller in negotiating an eight-year lease extension with tenant Allied Building Products prior to the closing.
LOS ANGELES — KeyBank Real Estate Capital has funded a $17 million CMBS first-mortgage loan for De Soto Industrial, a warehouse facility located in the Chatsworth neighborhood of Los Angeles. Built in 1983, the multi-tenant property features 129,550 square feet of warehouse space and 21,280 square feet of office space. Josh Berde of Key’s Commercial Mortgage Group arranged the non-recourse, fixed-rate financing with a 10-year term, five-year interest-only payment period and a 30-year amortization schedule. The undisclosed borrower used the loan to refinance existing debt.