FARMINGTON HILLS, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of an 8,084-square-foot industrial building in Farmington Hills, approximately 25 miles northwest of Detroit, for an undisclosed price. Sebastian & Sam Land Development Company LLC sold the property, located at 32945 Folsom Road, to Excalibur Managements and Investments LLC. The facility was previously occupied by a tow truck manufacturing company and was used as a truck repair shop for a waste management company before that. The new buyers will use the facility to store construction equipment and materials. Robert Frank of Friedman Integrated Real Estate Solutions represented the seller in the transaction.
Industrial
KENOSHA, WIS. — The Dickman Company Inc./CORFAC International has negotiated the sale of a 272,000-square-foot industrial building in Kenosha, approximately 35 miles south of Milwaukee, for an undisclosed price. Phoenix Kenosha LLC purchased the building, which is located at 3122 14th Ave., from Walnut & Vine Properties II LLC. Nick Keys of The Dickman Company represented the buyer in the transaction, and Brad Thompson of Millennium Properties represented the seller.
CHARLOTTE, N.C. — CBRE has brokered the $46.3 million sale of CLT Logistics Center, a 583,021-square-foot business park located at 3100-3401 International Airport Drive and 3100-3140 Yorkmont Drive in Charlotte. The sale also included an additional 14.9 acres of land. Major tenants at CLT Logistics Center include Bimbo Bakeries, FedEx and DC74 Data Centers. Minneapolis-based Meritex purchased the business park and land from Carlson Real Estate, making it the first investment in Charlotte for the investor. Patrick Gildea, Bryan Crutcher and Anne Johnson of CBRE represented Carlson Real Estate in the transaction.
SOUTH BRUNSWICK, N.J. — J.G. Petrucci Co. has completed the sale of an industrial facility located at 15 Stults Road in South Brunswick. Jean Design Inc. acquired the build-to-suit facility for undisclosed price. Situated on 5 acres, the 63,506-square-foot building features six loading docks, a drive-in door, a T-5 lighting system and an ESFR sprinkler system. J.G. Petrucci Co. completed the development and design/build of the facility. Joel Lubin of JLL represented the seller and buyer in the transaction.
AURORA, COLO. — Majestic Realty Co. has announced plans to build the largest single-phase speculative industrial development in Colorado’s history, according to the firm. The three buildings will contain a total of 834,580 square feet of spec industrial warehouse and distribution space that will be situated within the Majestic Commercenter. The developers plan to break ground on the new buildings this fall for completion by summer 2017. At that time, Majestic Commercenter will feature 4.2 million square feet throughout 17 buildings. Amazon recently pre-leased a 452,400-square-foot building at the center.
LAS VEGAS — Strategic Storage Trust II (SST II) has purchased a 745-unit self storage facility in Las Vegas for an undisclosed sum. The facility is located at 590 E. Silverado Ranch Blvd. The property was built in 2002. The four-building facility sits on 3.4 acres. It offers climate-controlled units and drive-up units. The facility is 85 percent occupied. SSTII is sponsored by SmartStop Asset Management LLC.
ROSEMONT, ILL. – The goods distribution industry is in a state of controlled disruption, according to a mid-year update on North American ports and transportation published by Cushman & Wakefield’s ports/intermodal practice group. The report, titled Ship – Shore – To Your Front Door, outlines that sector’s ongoing transition and the resulting opportunities. Challenges and shifts, such as marine terminal closures, driver shortages, new ocean carrier alliances, Panama Canal issues and others have created an increasingly complex environment. Yet according to Cushman & Wakefield’s Kevin Turner, who leads the ports/intermodal practice group, across the supply chain there is light at the end of the tunnel. “Times are changing,” said Turner. “Stakeholders are charting a new way forward with automation, supply chain transparency, new port labor contracts, technological advances, congressional support and stabilizing fuel costs. Occupiers and landlords are positioning with logistics partners to increase delivery metrics, alleviating supply chain bottlenecks with scalable real estate solutions.” Inland Ports Inland ports are steaming ahead across the country. These logistics hubs combine containerized rail intermodal and trucking interchange with warehousing and distribution activity, offering virtually everything found at a seaport except for ships and salt water. The intermodal rail ramps — facilities to …
NEWARK, DEL. — Penguin Industries has completed the sale of a 151,000-square-foot warehouse building located at 701 Pencader within Pencader Industrial Park in Newark. Situated on 8.65 acres, the building has 24-foot clear heights and an ESFR sprinkler system. Wye Realty Advisors arranged the purchase of the property on behalf of the buyer, a Delaware-based private investor, for undisclosed price. AVIR Realty assisted the seller in the deal. Whitewoods Capital Advisors, along with Wye Realty Advisors, originated an acquisition loan for the buyer. At the time of sale, the building was fully leased to two tenants.
HOUSTON — Colliers International has negotiated two office/warehouse leases at 9777 W. Gulf Bank Road in Houston. Donald Fincher of TruCore Commercial represented Armadillo Photo Supply Inc., which leased 9,746 square feet. Stephen Kuper and Preston Yaggi of Lee & Associates represented Helios Digital Packaging Inc., which leased 16,081 square feet. Walter Menuet and Judd Harrison of Colliers International represented the landlord in the transaction.
NORTH LAS VEGAS — Fanatics has leased 400,000 square feet of distribution space at the Northgate Distribution Center in North Las Vegas, which is currently under construction. The 108-acre industrial property will be situated on Lamb Boulevard off Interstate 15. Phase I of the 2 million-square-foot industrial park will include the largest speculative industrial building ever constructed in Southern Nevada, according to the developer, VanTrust Real Estate LLC. This phase will include six buildings once completed this October. Phase II, which will add 600,000 square feet to the project, will commence this month. The sports merchandise retailer is the first tenant to sign at Northgate Distribution Center. The project’s general contractor is Martin Harris Contracting. HPA Architecture will design the center. Dan Doherty of Colliers International represented Fanatics in the deal. CBRE’s Kevin Higgins represented VanTrust in the lease transaction.