ITASCA, ILL. — The RDI Group, a manufacturer of engineered systems for the roofing, construction, power, metal coil processing and medical industries, has leased a 25,141-square-foot industrial building at 1070 W. Ardmore Ave. in Itasca. Jeff Janda and Chris Nelson of Lee & Associates of Illinois represented the owner, Town & Country Distributors, as well as the tenant. The facility will serve as a satellite warehouse for RDI Group’s primary location at 1025 W. Thorndale Ave. in Itasca.
FORT WORTH, TEXAS — Bradford Commercial Real Estate Services has arranged the sale of a 68,080-square-foot, vacant industrial building in North Fort Worth. The building was constructed in 1981 on a 3.9-acre site at 2500-2536 N.E. Loop 820 and can accommodate a single or multiple users. Todd Lambeth and Richard Hitz of Bradford represented the seller, an entity doing business as Direct Investment Ltd., in the transaction. The buyer, Dallas-based CanTex Capital, has also retained Bradford as the leasing agent.
GRANBURY, TEXAS — Locally based investment firm Skywalker Property Partners has purchased a 60,000-square-foot industrial facility in Granbury, located southwest of Fort Worth. Old Granbury Industrial Park consists of 11 buildings on a 9.3-acre site that were fully leased at the time of sale. Trevor Short of Trinity Real Estate Investment Services represented the undisclosed seller in the transaction. Jack Mock represented Skywalker on an internal basis.
CHICAGO AND MATTHEWS, N.C. — A joint venture between Chicago-based Harrison Street Asset Management and Matthews-based Morningstar Properties has acquired a portfolio of 21 self-storage properties totaling morning than 10,800 units. The properties are located in Texas, North Carolina, South Carolina, Florida, Georgia, Virginia and Arkansas, with 71 percent of the assets situated in top 30 U.S. metropolitan areas such as Houston, Austin, Charlotte and Atlanta. The portfolio was 90 percent leased at the time of sale and spans more than 1.3 million rentable square feet. Morningstar will continue operating and managing the portfolio. The seller was not disclosed. Harrison Street and Morningstar previously completed 41 self-storage investments across five Sun Belt states.
SALEM, VA. — Cushman & Wakefield | Thalhimer has negotiated the $11.6 million sale of a 170,000-square-foot distribution facility located in Salem. ReaderLink Distribution Services LLC, the country’s largest book distributor to mass merchandisers and other non-bookstore outlets, fully occupies the facility and has been a tenant at the site for 25 years. Bo McKown of Thalhimer’s Capital Markets Group represented the undisclosed buyer in the transaction. Davis Stoneburner of Thalhimer’s Industrial Services Group will lead leasing efforts for the new ownership.
CHANTILLY, VA. — Penzance has received a $100 million construction loan for the development of Chantilly Premier, a 241,000-square-foot data center in Chantilly, roughly 34 miles west of Washington, D.C. Marshall Scallan, Michael Zelin and Bindi Shah of Cushman & Wakefield arranged the loan through QuadReal Property Group on behalf Penzance. Penzance recently broke ground on the fully preleased center, which is situated on 12 acres of a 79-acre site, located adjacent to the Chantilly Auto Park, according to the Washington Business Journal. An affiliate of Penzance originally acquired the vacant parcel in August 2022. Chantilly Premier is slated for completion by mid-2027.
MIAMI — JLL Capital Markets has secured $30 million in refinancing for Palmetto Industrial Park, a six-building, shallow-bay portfolio located at 6801-7500 N.W. 77th Ave. in Miami. Melissa Rose, Jovi Rodriguez and Duncan Miller of JLL arranged the three-year, fixed-rate loan through an unnamed bank on behalf of the borrower, a joint venture between East Capital Partners and ABR. Constructed between 1981 and 1982, Palmetto Industrial Park totals 183,945 square feet and features 18-foot clear heights, 12 dock-high doors, 101 grade-level doors and 275 parking spaces. The facility, which was 94.9 percent leased at the time of loan closing, includes a mix of 143 tenants such as auto repair shops, custom carpentry operations, marble and stone services, logistics companies, medical centers, insurance agencies and specialized manufacturing facilities.
JERSEY CITY, N.J. — Locally based developer Tulfra Real Estate has completed a 797-unit self-storage project in Jersey City. The six-story, climate-controlled facility at 300 Thomas McGovern Drive spans 115,000 gross square feet and is part of a larger development known as Jersey City Self Storage that will ultimately comprise approximately 261,000 square feet (gross) across more than 2,400 units and two more phases of development. Fulton Bank financed construction of the project, which is a conversion of a former industrial site. JLL arranged the construction debt. Public Storage operates the facility.
CLIFTON, N.J. — Resource Realty of Northern New Jersey has negotiated a 52,606-square-foot, full-building industrial lease in Clifton. The names of the tenant and landlord were not disclosed. According to LoopNet Inc., the building at 1155 Bloomfield Ave. was originally constructed in 1952. Building features include a clear height of 24 feet, five loading docks and 12,000 square feet of office, showroom and tech space. Greg Sabato of Resource Realty negotiated the deal.
WARREN, OHIO — CBRE has negotiated the $9.4 million sale of a 94,000-square-foot industrial research and development facility in Warren, a city in eastern Ohio. CBRE’s Steve Timmel, Will Roberts and George Stevens represented the seller, Industrial Commercial Properties. An entity doing business as PG Warren Industrial LLC was the buyer. Built in 1998 and renovated in 2014, the building at 4551 Research Parkway features a clear height of 22 feet, 10 drive-in doors and a reinforced concrete foundation on an 11.9-acre site. The property was fully occupied by Aptiv at the time of sale and is part of the company’s broader Warren campus.
