Industrial

Black Creek Group Acquires Three-Building Industrial Portfolio in Colton, California

by Amy Works March 27, 2018

COLTON, CALIF. — Black Creek Group has purchased a three-building industrial portfolio totaling 743,381 square feet in Colton for an undisclosed price. The portfolio includes a 121,196-square-foot property located at 2036 Miguel Bustamante Parkway, a 174,995-square-foot building located at 2053 Miguel Bustamante Parkway and a 447,190-square-foot property located at 2163 S. Riverside Ave. The adjacent properties feature dock-high loading, ESFR sprinkler systems, minimum clear heights ranging from 32 feet to 36 feet, and state-of-the-art office space. Ken Anderson and Rick John of DAUM Commercial Real Estate Services, along with Barbara Emmons Perrier and Darla Longo of CBRE, represented the buyer and seller in the deal. The seller was an undisclosed REIT.

March 27, 2018

Acquisitions California Industrial Loans Property Type Western

MetroGroup Provides $21.9M in Acquisition Financing for R&D/Flex Campus in San Diego

by Amy Works March 27, 2018

SAN DIEGO, CALIF. — MetroGroup Realty Finance has provided $21.9 million permanent acquisition financing for a R&D/flex corporate campus located at 10307 and 10309 Pacific Center Court in San Diego. The seven-year loan features a 30-year amortization, fixed interest rest and a loan-to-purchase-price ratio of 69 percent. Colony Northstar sold the property to a Newport Beach, Calif.-based private investor for an undisclosed price. Quantum Design International, a global scientific instrumentation manufacturer and distributor, occupies the 103,830-square-foot property. Michael Hartel of Colliers International represented the buyer in the acquisition transaction.

March 27, 2018

Industrial Loans Midwest Missouri Self-Storage

ASC Arranges $3M Refinancing of Self-Storage Portfolio in Branson, Missouri

by Kristin Harlow March 27, 2018

BRANSON, MO. — American Street Capital (ASC) has arranged a $3 million CMBS loan for the refinancing of a self-storage portfolio in Branson. The portfolio includes five facilities and 694 units spanning 127,449 square feet. The portfolio was over 95 percent occupied at the time of the loan closing. Igor Zhizhin of ASC arranged the 10-year loan, which features a 30-year amortization schedule.

March 27, 2018

Acquisitions Industrial Massachusetts Northeast Office Pennsylvania

Goldman Sachs Acquires Five-Property Industrial Portfolio in Suburban Philadelphia and Boston

by David Cohen March 26, 2018

MALVERN AND LANGHORNE, PA., FRANKLIN, MASS. — Goldman Sachs Asset Management Private Real Estate (GSAM) has acquired a portfolio of five industrial flex properties in suburban Philadelphia and Boston totaling 525,000 square feet for an undisclosed amount. The properties are located in Malvern and Langhorne Pa., and Franklin, Mass. The addition of the five properties brings GSAM Private Real Estate’s industrial portfolio in the Northeast and Mid-Atlantic regions to 13 properties totaling 2.4 million square feet. GSAM Private Real Estate represented itself in the transaction. The seller was not disclosed.

March 26, 2018

Acquisitions Industrial Texas

Stream Realty Arranges Sale of 54,000 SF Industrial Building in Metro Dallas

by Taylor Williams March 26, 2018

GARLAND, TEXAS — Stream Realty Partners has arranged the sale of a 54,000-square-foot industrial building located at 2601 W. Kingsley Road in the Dallas metro of Garland. Kingsley Industrial LLC sold the property to Snell Motor Co. Inc. for an undisclosed price. Matt Dornak and Ryan Wolcott of Stream Realty Partners brokered the sale.

March 26, 2018

Acquisitions Georgia Industrial Self-Storage Southeast

U-Haul Acquires 324,000 SF Warehouse South of Atlanta, Plans 1,800-Unit Self-Storage Facility, Regional Office

by Camren Skelton March 26, 2018

STOCKBRIDGE, GA. — U-Haul Co. has acquired a 324,000-square-foot warehouse located at 471 Eagles Landing Parkway in Stockbridge, roughly 19 miles southeast of downtown Atlanta. Other terms of the deal were not disclosed. U-Haul Mobility & Storage at Eagles Landing will be repurposed to offer 1,800 indoor self-storage units for rent. The facility will include a mix of climate-controlled and non-climate-controlled units and security features. In addition, the warehouse will house a new regional office for U-Haul. The company’s operations will encompass 108,000 square feet, and the remaining 216,000 square feet will be available for lease. The facility will employ approximately 20 people when fully operational, and will feature a sidewalk expansion for customers who arrive by golf cart, an electrical charging station for golf carts and a walking and biking path. In the coming weeks, U-Haul will allocate warehouse space to store more than 300 U-Box portable moving and storage containers and lot space to accommodate 40 U-Haul truck boxes, providing immediate storage solutions for customers while self-storage rooms are under construction. A construction timeline was not disclosed.

March 26, 2018

Illinois Industrial Loans Midwest

HFF Arranges $159.2M Recapitalization of Industrial Portfolio Located Primarily in the Midwest

by Kristin Harlow March 26, 2018

CHICAGO — HFF has arranged a $159.2 million recapitalization of an 11-property industrial portfolio totaling 2.8 million square feet in Georgia, Illinois, Michigan, Minnesota, Ohio, Pennsylvania and Texas. HFF represented the seller, a joint venture between Brennan Investment Group, Arch Street Capital Advisors LLC and Gatehouse Financial Group Limited, as well as the buyer, a new joint venture between Brennan Investment Group and Sidra Capital. Goldman Sachs provided a 10-year loan on behalf of the new owner. The fully leased portfolio, known as USIPA, is triple-net leased to nine tenants and features single-tenant buildings ranging from 90,000 to 578,000 square feet. Clear heights range from 17 feet to 34 feet. Claudio Sgobba, Christopher Carroll, Robin Stolberg, Kurt Sarbaugh, Matthew Schoenfeldt and Jules Sherwood of HFF made up the debt and equity placement team.

March 26, 2018

Acquisitions Industrial Midwest Minnesota Self-Storage

US Storage Centers, Harrison Street Acquire Two Self-Storage Facilities in Minnesota

by Kristin Harlow March 26, 2018

WHITE BEAR LAKE AND LAKE ELMO, MINN. — US Storage Centers, in partnership with Harrison Street Real Estate Capital LLC, has acquired two self-storage facilities in Minnesota for an undisclosed price. Both properties, which feature climate-controlled units, will be rebranded as US Storage Centers. One of the facilities, a 922-unit, 83,264-square-foot property, is located in White Bear Lake, about 20 miles northeast of Minneapolis. The other is a 790-unit facility with 69,038 square feet of self-storage space in Lake Elmo, about 24 miles east of Minneapolis. US Storage Centers currently manages approximately 8 million square feet of self-storage space nationwide.

March 26, 2018

Illinois Industrial Leasing Activity Midwest

NKF Negotiates 125,000 SF Industrial Lease Renewal for Leslie’s Poolmart in West Chicago

by Kristin Harlow March 26, 2018

WEST CHICAGO, ILL. — Newmark Knight Frank (NKF) has negotiated a 125,000-square-foot industrial lease renewal on behalf of Leslie’s Poolmart Inc. in West Chicago, about 38 miles west of the Windy City. The property is located at 320 Industrial Drive. Phoenix-based Leslie’s, which sells swimming pool and spa supplies, will use the space for warehousing products. Jerry Jacobs of NKF represented Leslie’s in the lease transaction. Adam Marshall and Mark Deady of NKF served as local advisors. David Prell of CBRE represented the landlord, Colony NorthStar Inc.

March 26, 2018

Development Industrial Nevada Western

SunCap Property, Colony NorthStar Acquire Site for 752,838 SF Industrial Campus in Las Vegas

by Amy Works March 26, 2018

LAS VEGAS — A joint venture between SunCap Property Group and Colony NorthStar has acquired a 40-acre development site located at the southeast corner of N. Las Vegas and N. Lamb boulevards in Las Vegas. The partnership plans to develop SunPoint Crossing, a Class A light industrial campus on the site. Spanning three buildings, the campus will feature 752,838 square feet of industrial space. Divisible to 35,000 square feet, the buildings will feature tilt-up concrete construction, 32-foot clear ceiling heights, ESFR sprinklers, dock-height and grade-level doors with trailer parking. Construction is slated to begin this summer for delivery of shell buildings in summer 2019. Jeremy Green and Tyler Ecklund of CBRE’s Las Vegas office is handling marketing for the development.

March 26, 2018

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