Industrial

Panattoni Buys Three Industrial Properties in Skokie, Plans Redevelopment

by Kristin Harlow May 13, 2019

SKOKIE, ILL. — Panattoni has purchased three industrial properties located near each other in Skokie: a 78,101-square-foot building at 7515 Linder Ave., a 35,000-square-foot building at 7555 Linder Ave. and a 44,000-square-foot building at 7520 Long Ave. The developer plans to demolish the buildings in order to construct a 140,000-square-foot speculative distribution facility. The development will feature a clear height of 32 feet, 30 exterior docks, two drive-in doors and parking for 141 cars. Completion is slated for the fourth quarter of this year. Volkert will market the property for lease. Chris Volkert of Colliers International represented the private sellers.

May 13, 2019

Development Industrial Washington Western

Bridge Development Buys Industrial Development Site in Metro Seattle

by Amy Works May 13, 2019

SUMNER, WASH. — Bridge Development Partners has acquired a 2.9-acre land parcel, located at 1710 136th Ave. East in Sumner, from an independent seller for an undisclosed price. The company plans to develop Bridge Point Sumner 60 on the site. The project will feature 64,574 square feet of industrial space, 30-foot clear ceiling heights, an ESFR sprinkler system, three grade-level doors, 10 dock-high doors, a 120-foot truck court and parking for 54 cars. The facility will offer flexible space options ranging from 20,000 square feet to 65,000 square feet. Construction is slated to begin in the next 30 days, with delivery by first-quarter 2020. Kermit Jorgensen and Scott Price of Neil Walter Co. represented Bridge in the acquisition and will serve as leasing agents for the project.

May 13, 2019

Acquisitions California Industrial Western

Realty Advisory Group Negotiates $8.9M Sale of 75,286 SF Industrial Asset in the Inland Empire

by Amy Works May 13, 2019

RIVERSIDE, CALIF. — Realty Advisory Group has arranged the sale of a single-tenant industrial property, located at 7275 Sycamore Canyon Blvd. in Riverside. An undisclosed seller sold the property for $8.9 million. Situated on 4.3 acres, the freestanding, 75,286-square-foot facility features 28-foot clear heights, 10 dock-high positions and future divisibility. At the time of sale, the property was fully leased to a Fortune 200 tenant. John Repstad and Mark Repstad of Realty Advisory Group represented the seller and undisclosed buyer in the deal.

May 13, 2019

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 529-Unit Self-Storage Facility in Metro Houston

by Taylor Williams May 13, 2019

KATY, TEXAS — Marcus & Millichap has arranged the sale of Storage Place of Katy, a 529-unit self-storage facility located west of Houston. The property comprises 137 climate-controlled units, 363 non-climate-controlled units, 25 covered parking spots and four outdoor parking spots for a total of 131,003 net rentable square feet. Dave Knobler and Charles LeClaire of The LeClaire Group, a division of Marcus & Millichap, represented the seller, a Houston-based partnership, in the transaction. The buyer and additional terms of sale were not disclosed.

May 13, 2019

Industrial Leasing Activity Texas

NAI Partners Negotiates 17,850 SF Industrial Lease in Austin

by Taylor Williams May 13, 2019

AUSTIN, TEXAS — NAI Partners has negotiated a 17,850-square-foot industrial lease for Beacon Roofing Supply Inc. at 20 Strandtman Cove in Austin. Troy Martin of NAI Partners represented the tenant, which distributes roofing and building supplies, in the lease negotiations. Adam Green of Stream Realty Partners represented the landlord.

May 13, 2019

Industrial Kentucky Loans Southeast

NorthMarq Arranges $10M Refinancing of Distribution Facility in Louisville

by Alex Tostado May 10, 2019

LOUISVILLE, KY. — NorthMarq Capital has arranged a $10 million refinancing loan for Crossings Center Nine, a 500,000-square-foot distribution facility in Louisville. Crossings Center Nine is situated within Commerce Crossings Business Park, 14 miles south of downtown Louisville and 10 miles south of Louisville International Airport. A life insurance company provided the 15-year, fixed-rate loan with a 20-year amortization schedule. The borrower was not disclosed.

May 10, 2019

Development Industrial Texas

Davis Commercial Begins Construction of 560,000 SF Distribution Center in Houston

by Taylor Williams May 10, 2019

HOUSTON — Local firm Davis Commercial Development has broken ground on Cypress Preserve Logistics Center, a 560,000-square-foot distribution center in Houston. The 31.9-acre site offers proximity to Interstate 45 and Hardy Tollway. Cypress Preserve Logistics Center will feature two cross-dock buildings that will offer spaces ranging in size from 64,500 to 258,000 square feet. The development will also include two tilt-wall buildings totaling 41,500 square feet. The cross-dock buildings will feature 32-foot clear heights, 165 trailer parking spaces and office space, while the tilt-wall buildings will have 24-foot clear heights, ESFR sprinkler systems and custom office finishes. Delivery is slated for October. Walker Barnett and Ryan Byrd of Colliers International will handle leasing of the development.

May 10, 2019

Acquisitions Industrial New York Northeast

Cushman & Wakefield Brokers Sale of 68,862 SF Industrial Facility in Chestnut Ridge, New York

by Taylor Williams May 10, 2019

CHESTNUT RIDGE, N.Y. — Cushman & Wakefield has brokered the sale of 3 Alpine Court, a 68,862-square-foot industrial facility in Chestnut Ridge, New York, located just north of New Jersey. Situated on 6.3 acres, the property is 30 miles west of Manhattan and within a one-hour drive of Port Newark and all three metro area commercial airports. Privately held firm Weiss Real Estate Investments purchased the asset from CMS Holding Co. Inc. for an undisclosed price. Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Kyle Schmidt, Stan Danzig and Stephen Elman of Cushman & Wakefield brokered the deal.

May 10, 2019

Acquisitions California Industrial Western

Rexford Industrial Buys Two Properties in Southern California for $30.3M

by Amy Works May 10, 2019

LOS ANGELES AND RANCHO DOMINGUEZ, CALIF. — Rexford Industrial Realty has purchased two industrial properties for a combined total of $30.3 million. The acquisitions were funded using cash on hand. The company acquired a single-tenant industrial building, located at 15835 Oxnard St. in Los Angeles for $16.8 million, or $235 per square foot, in an off-market transaction. Situated in the Van Nuys neighborhood, the 71,467-square-foot building features 24-foot clear heights and 1,000 feet of freeway frontage along the Interstate 405 and substantive excess paved lane. Rexford also purchased a low-coverage building, located at 19100 S. Susana Road in Rancho Dominguez, for $13.5 million, or $77 per land square foot, in an off-market transaction. Situated on four acres, the 52,630-square-foot property features 24 dock-high loading positions, excess land for trailer storage and Interstate 710 freeway frontage. At the time of sale, the property was fully leased to a regional logistics operator.

May 10, 2019

Development Industrial Washington Western

Bridge Development to Build 97,522 SF Industrial Facility in Kent, Washington

by Amy Works May 10, 2019

KENT, WASH. — Bridge Development Partners has purchased a 4.7-acre development site, located at 26524 79th Ave. in Kent, from an independent seller for an undisclosed price. Bridge Development plans to construct Bridge Point Kent 100, a 97,522-square-foot industrial facility, on the site. Slated for delivery in first-quarter 2020, the facility will feature 30-foot clear ceiling heights, 14 dock-high doors, two grade-level doors, flexible size configurations and an ESFR sprinkler system. Steve Brunette, Shawn Childs and Andrew Stark of CBRE represented Bridge in the acquisition. Childs and Stark will serve as leasing agents for the property.

May 10, 2019

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