HOUSTON — E.E. Reed Construction LP has broken ground on a 1,753-unit self-storage facility in west Houston for Proguard Storage. Upon completion, the six-story, climate-controlled facility will total 268,593 square feet. Houston-based Edgecomb & Associates is designing the project, which is scheduled to be complete in November 2018. The project will be the fourth self-storage facility for E.E. Reed since 2011.
HOUSTON — NAI Partners has brokered the sale of a three-building, 48,300-square-foot industrial portfolio located at 18155 Chisholm Trail in north Houston. The three buildings, which total 21,000, 14,500 and 12,800 square feet, are located on the former campus of oil and gas firm Weatherford International. John Ferruzzo and Nick Peterson of NAI Partners represented the buyer, Marston Acquisition Co. LLC, in the transaction.
AUSTELL, GA. — CBRE has arranged a $28.7 million acquisition loan for Core5 Logistics Center at Interstate West, a 781,440-square-foot industrial facility located at 440 Interstate West in Austell, roughly 18 miles northwest of downtown Atlanta. Joel Torbora, Jonathan Rice and Jeff Ackemann of CBRE arranged the three-year loan through BMO Harris on behalf of the buyer, WPT Capital Advisors. The company acquired the facility from Core5 Industrial Partners, which developed the property in September. Core5 Logistics Center features 36-foot clear heights. Todd Barton of CBRE is handling the property’s leasing assignment.
CHICAGO — Midwest Industrial Funds has sold an 84,000-square-foot industrial building in Chicago for an undisclosed price. The food production building is located at 4300 S. Morgan St. within the Stockyards Business Park. The property features 17- to 28-foot ceilings, seven exterior docks, parking for 150 cars and freezer space on a nine-acre site. An affiliate of WP Carey, which had a long-term lease agreement in place with Griffith Foods at closing, purchased the property. Scott Duerkop, Jason Volpe and Sean Devaney of JLL represented the buyer and Griffith Foods in the transaction. Brian Vanosky, Tom Condon and Tim McCahill of Lee & Associates represented Midwest Industrial Funds.
ROMEOVILLE, ILL. — Marcus & Millichap has arranged the sale of Space Savers Self Storage in Romeoville for $4.4 million. The 44,000-square-foot self-storage facility is located at 645 S. Weber Road. Built in 2005, the facility offers climate-controlled, indoor, outdoor and portable storage units. For security, the facility features 24-hour surveillance and all units are electronically controlled. Sean Delaney and Michael Male of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The team also procured the buyer, a private investor.
SEATTLE — Peregrine Realty Partners has purchased North Creek Parkway Center, a 205,554-square-foot flex industrial/office park in the North Creek submarket east of Seattle, for $36.5 million. The six-building center is located at 11804-18916 North Creek Parkway. Almost half of North Creek Parkway Center’s tenants have leased space in the park for 10 plus years, including anchor Alder Biopharmaceuticals. HFF represented both the buyer and seller, an affiliate of KBS Capital Advisors, in this transaction.
POMPANO BEACH, FLA. — First Industrial Realty Trust Inc. has acquired a 172,120-square-foot warehouse/distribution building in Broward County’s Pompano Beach for $22.7 million. Located at 2504 N.W. 19th St., the property features 16 dock-high doors, two drive-in doors, 323 auto stalls and an additional 4.1-acre parking lot that is available for future development. Mike Davis, Rick Brugge and Michael Lerner of Cushman & Wakefield arranged the transaction on behalf of First Industrial. The name of the seller was not disclosed. Sean Rooney of Hanna Commercial, Jay Ziv of Avison Young and Matthew McAllister, Rick Etner, Chris Metzger and Christopher Thomson of Cushman & Wakefield secured a 19,000-square-foot lease with Stoncor Group Inc., a provider of corrosion and abrasion solutions for the infrastructure and construction markets. With the new lease, the facility is fully occupied.
ORANGE, CONN. — Pearce/George J. Smith Commercial Real Estate has brokered the sale of an industrial building situated on 6.5 acres at 70 Robinson Blvd. in Orange. Robin Equity LLC acquired the 50,666-square-foot property for an undisclosed price. The buyer will repurpose the building for American Seal & Engineering Corp. to serve as its new global corporate headquarters and main manufacturing facility for engineered products, advanced manufacturing technology, and product testing and development. Carl Russell of Pearce/George J. Smith Commercial represented the sellers, ALM Properties and MCM Investments in the deal.
WHEELING, ILL. — Millennium Properties R/E has brokered the sale of a 30,000-square-foot industrial warehouse in Wheeling for $1.4 million. The property, located at 140 Shepard Ave., is fully leased to multiple tenants. The building features 14-foot ceilings, two docks and 10 drive-in doors. Brad Thompson and Chet Evans of Millennium brokered the sale. Neither the name of the buyer nor the seller was disclosed.
Del Markward will be logging a lot of frequent flyer miles over the next year as he travels around the country and abroad to meet with several chapters of the Society of Industrial and Office Realtors (SIOR), an organization with more than 3,200 members in 685 cities and 36 countries. In addition to serving as the 2018 global president of SIOR, Markward is founder of the Markward Group, a real estate consulting, advisory and brokerage firm based in Allentown, Pa. Markward was officially inducted as president of the organization in October at the outset of the SIOR World Conference in Chicago. He most recently served as president-elect of SIOR and before that was vice president. The commercial real estate community recognizes professionals who have earned the SIOR designation as among the most capable and experienced brokerage practitioners in any market, according to the organization. On the heels of the SIOR World Conference, REBusinessOnline interviewed Markward about some of the dynamic changes taking place in the industrial real estate sector today, including the sharp rise in demand for space driven by e-commerce companies. What follows is an edited transcript of the Q&A. REBusinessOnline: Supply chain logistics is an industry undergoing a dramatic …
