Industrial

Fantini & Gorga Arranges $2.8M in Financing for Flex Building Near Worcester

by David Cohen July 19, 2018

SHREWSBURY, MASS. — Fantini & Gorga has arranged $2.8 million in first mortgage financing for a 36,660-square-foot flex building located at 910 Boston Turnpike in Shrewsbury. The property is approximately six miles east of Worcester. Derek Coulombe and Lindsay Feig of Fantini & Gorga arranged the 15-year, fixed-rate financing on behalf of the undisclosed borrower through a life insurance company. The property was built in 1985 and is broken up into eight rental units with nine total loading docks. It is currently fully leased to five tenants, which include Jenny B Companies, United Medical Systems and Up, Up and Play Day Care.

July 19, 2018

Development Illinois Industrial Midwest

Crow Holdings Industrial Breaks Ground on First Midwest Project in Channahon, Illinois

by Kristin Harlow July 19, 2018

CHANNAHON, ILL. — Crow Holdings Industrial (CHI) has broken ground on a development in Chicago’s I-80 corridor, its first project in the Midwest. The 252,208-square-foot speculative industrial building will be located at 24601 S. Frontage Road in the Channahon Corporate Center. The building will feature a clear height of 36 feet, LED lighting, truck dock loading and trailer parking. ARCO/Murray is the general contractor.

July 19, 2018

Echelon-Business-Park-City-of-Industry-CA

Acquisitions California Industrial Western

DAUM Commercial Brokers Sales of Seven Industrial Properties in Southern California for $50M

by Amy Works July 19, 2018

CITY OF INDUSTRY, CALIF. — DAUM Commercial Real Estate Services has brokered the individual sales of seven buildings that comprise Echelon Business Park, a newly constructed industrial campus in City of Industry. Los Angeles-based Dedeaux Properties sold the assets for a total of $50 million. Located at 801-821 Echelon Court, the freestanding buildings range in size from 27,438 square feet to 43,166 square feet. The properties feature ample dock-high and ground-level loading, large truck courts, ESFR sprinklers, high-speed fiber optic cabling and two-story office space. Dennis Sandoval, Robert Dipre, Bryan Sandoval and Kurt Yacko of DAUM represented the seller in the transactions. The names of the buyers were not released.

July 19, 2018

Development Georgia Industrial Southeast

Five Below to Open $70M Distribution Center in Georgia’s Monroe County

by Camren Skelton July 19, 2018

FORSYTH, GA. — Discount retailer Five Below will invest $70 million to build a new distribution center in Monroe County, roughly 60 miles southeast of Atlanta. According to local media reports, the facility will be located within Meridian 75 Logistics Center, a 186-acre master-planned business park in Forsyth. The new building will create 130 new jobs. The initial investment includes $42 million in land and building, and approximately $28 million in machinery and equipment. Additional investment will occur over the next five years. Founded in 2002, Philadelphia-based Five Below sells products that cost $5 or less. The chain operates more than 650 stores across 32 states, and plans to open 125 new stores this year. A construction timeline for the Monroe County facility was not disclosed.

July 19, 2018

Development Industrial South Carolina Southeast

SunCap to Develop 213,200 SF Industrial Building in Upstate South Carolina

by Camren Skelton July 19, 2018

SPARTANBURG, S.C. — SunCap Property Group has acquired 18 acres on Tyger Lake Road in Spartanburg, with plans to develop a 213,200-square-foot industrial building. Dubbed Spartan Exchange, the Class A facility will feature 32-foot clear heights, 22 dock doors, two drive-in doors and trailer parking. The building will be divisible to 54,080 square feet to accommodate a range of tenant sizes. Garrett Scott, John Montgomery and Brockton Hall of Colliers International represented SunCap in the land transaction, and will be responsible for the leasing and management of the project. Edifice is the general contractor, and Ware Malcomb is the project architect. Spartan Exchange will be located roughly 10 miles from the Inland Port Greer and Greenville-Spartanburg International Airport.

July 19, 2018

Acquisitions Industrial Northeast Pennsylvania Property Type

Endurance, Thackeray Partners Purchase Industrial Facility in York, Pennsylvania for $8.2M

by David Cohen July 18, 2018

YORK, PA. — Endurance Real Estate Group and Thackeray Partners have acquired a 174,572-square-foot warehouse/distribution building in York for $8.2 million. The property, located at 2075 Loucks Road, is fully leased to York Wallcoverings Inc., a global manufacturer of residential and commercial wallpaper. Rock Commercial Real Estate represented the seller, the former long-time owner of York Wallcoverings, in the transaction. Built in 1980, the property was expanded in 1986 and 1995 and features ceiling heights up to 30 feet as well as 13 dock-high loading doors and two drive-in doors.

July 18, 2018

Industrial Leasing Activity New Jersey Northeast

NAI Hanson Arranges 40,000 SF Industrial Lease in Northern New Jersey

by David Cohen July 18, 2018

CARLSTADT, N.J. — NAI James Hanson has arranged a 40,000-square-foot industrial lease at 223 Veterans Blvd. in Carlstadt. NAI Hanson’s Kenneth Lundberg and Patrick Lennon represented the tenant, NIS CP Corp., in the transaction. United Realty Advisors represented the landlord, Sitex. The property was renovated in 2017 and now features 5,000 square feet of office space as well as modern warehouse lighting. The building also features a clear height of 16 feet plus four dock doors and parking for 34 cars.

July 18, 2018

Acquisitions California Self-Storage Western

Levin Johnston Arranges $25M Sale of Two Self-Storage Facilities in Silicon Valley

by Amy Works July 18, 2018

LOS GATOS, CALIF — Levin Johnston of Marcus & Millichap has arranged the sale of two institutional-quality self-storage facilities located at 688 University Ave. and 17443 Farley Road West in Los Gatos within California’s Silicon Valley. A private high-net-worth family acquired the assets for $25 million. Constructed in 1999 and 2005, the Stor’ It Los Gatos facilities feature a total of 785 self-storage units, ranging from 25 square feet to 300 square feet, and in a mix of climate-controlled and standard unit offerings. At the time of sale, the 45,287-square-foot asset was 84 percent occupied. Adam Levin of Levin Johnston and Jacob Becher of Marcus & Millichap represented the buyer and the seller, a private high-net-worth individual, in the deal.

July 18, 2018

Acquisitions Arizona Industrial Western

Golden Eagle Distributors Sells Industrial Building in Tucson for $13.3M

by Amy Works July 18, 2018

TUCSON, ARIZ. — Golden Eagle Distributors, a Tucson-based beer distributor, has completed the sale of a 161,212-square-foot industrial building located at 705 E. Ajo Way in Tucson. 6455 Box Springs Blvd. LLC purchased the property for $13.3 million. Stephen Cohen and Michael Hammond of Cushman & Wakefield | PICOR represented the seller, while Art Day of CBRE represented the buyer in the transaction.

July 18, 2018

Industrial Leasing Activity Midwest Wisconsin

Anderson Manufacturing Signs 19,370 SF Industrial Lease in Lake Geneva, Wisconsin

by Kristin Harlow July 18, 2018

LAKE GENEVA, WIS. — Anderson Manufacturing LLC has signed a 19,370-square-foot industrial lease in Lake Geneva. The manufacturer of screws, rivets and other fastener solutions will occupy the space at 999 S. Wells St. Nick Keys of the Dickman Co. Inc./CORFAC International brokered the lease transaction. The landlord is 999 Wells LLC.

July 18, 2018

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