NASHVILLE, TENN. — Prologis Inc has acquired six Class A logistics facilities totaling 1.8 million square feet in Nashville. The portfolio includes assets in the SouthPark and CentrePointe industrial parks and is more than 90 percent leased to 12 customers, including Nissan Trading Corp. Americas. Prologis owns and manages 39 facilities totaling 6.3 million square feet in the Nashville market.
ELK GROVE VILLAGE, ILL. — Marcus & Millichap has arranged the $2.3 million sale of a multi-tenant industrial property in Elk Grove Village, located about 23 miles northwest of Chicago. Paul Tesdal, an investment specialist in Marcus & Millichap’s Chicago office, marketed the property on behalf of the seller, a REIT, and represented the buyer, a limited liability company. The single-story, 98,445-square-foot building is located at 1900-1960 Devon Ave. and includes seven units.
HOUSTON — Finial Group has brokered the sale of a 65,000-square-foot industrial building in Houston. Located at 8363 Market Street, the tilt-wall facility is in proximity to the interchange of East Freeway and Interstate 610. Piping manufacturer Sunbelt Supply Co. occupies the property. Reed Vestal and Ross Thomas of Finial represented the buyer, Golfcrest Investments LLC. Beau Kaleel and Jim Foreman of Cushman & Wakefield represented the undisclosed seller.
NOVI, MICH. — Gladstone Commercial Corp. has purchased a 156,200-square-foot industrial building in Novi, located about 30 miles northwest of Detroit, for $7.3 million. The property is fully leased to Eberspaecher North America Inc. through April 2024. Eberspaecher is a manufacturer of exhaust systems for automotive and commercial vehicles. Gladstone Commercial's real estate portfolio now consists of 87 properties located in 22 states, totaling approximately 9.3 million square feet.
BALTIMORE — Cushman & Wakefield of Maryland Inc. has arranged the sale of a 1.2 million-square-foot distribution center located at 4000 Principio Parkway in Baltimore. Cole Real Estate Investments purchased the Class A industrial property from Weeks Robinson, a private real estate investment and development firm. The center is fully leased to Restoration Hardware. The property includes 32-foot clear ceiling heights, 234 docks and 294 trailer storage spaces.
ELK GROVE VILLAGE, ILL. — Morgan/Harbour Construction has completed an 87,975-square-foot industrial facility for Weiss Rohlig Logistics. CenterPoint Properties is the developer of the new ground-up facility located at 1601 Estes Ave. in Elk Grove Village, a northwest suburb of Chicago. CenterPoint selected Morgan/Harbour as the general contractor for the project that began with the demolition of an existing building. The industrial building is divisible for two tenants and features a glass curtain wall at each entry. Weiss Rohlig will use 57 percent of the space. The property includes 16,000 square feet of office, 15 loading docks and two drive-in doors. Weiss Rohlig Logistics is the partnership of Gebruder Weiss and Rohlig Logistics and its core business is overland transport, air and sea freight and complex logistics solutions. Ben Warriner, vice president of construction, and Noah Warriner, project manager, led Morgan/Harbour’s construction team. Cornerstone Architects provided the architectural services.
TIGARD, ORE. — Tigard Central Industrial Park, a 209,000-square-foot manufacturing and distribution complex, has sold to McLellan Estate Company for $9.7 million. The five-building complex is located on SW Hall Boulevard. It is currently 81 percent occupied by tenants like Apex Industries, Compass Group USA, Archers Precision and Bay Standard Manufacturing. McLellan was represented by Dennis O’Neil of NAI Norris Beggs & Simpson. The seller, TCTPI, LLC was represented by Greg Nesting, Scott Finney & Raymond Duchek of Norris & Stevens, Inc.
TOLLESON, ARIZ. — Mattress Firm, Inc., has leased 79,880 square feet at a distribution building in Tolleson. The 197,526-square-foot building is located at 9180 W. Buckeye Road. The bedding specialty retailer was represented by Steve Bodeman of DAUM Commercial Real Estate Services. The landlord, First Industrial LP, was represented by Pat Feeney of CB Richard Ellis.
VALENCIA, CALIF. — Flight Line Products has leased 58,000 square feet at an industrial building in Valencia. The building is located at 28939 N. Ave. Williams. The new space will allow the airline industry supplier to expand within the Valencia area, where it is headquartered. The company was represented by Yair Haimoff of NAI Capital’s Encino office. The landlord, 12800 Wentworth LLC, was represented by David Young and Chad Gahr of the same firm.
NEW YORK CITY —Terreno Realty Corp. has acquired JFK Airgate, a four-building property totaling 229,000 square feet, and an adjacent parcel in Queens for $53.1 million. JFK Airgate, located approximately one-half mile north of John F. Kennedy International Airport, is approximately 98.6 percent leased to 18 tenants, including some of the largest international air cargo and logistics firms. The 65,000-square-foot Airgate I is a warehouse with 14 dock-high and three grade-level loading positions and parking for 56 cars at 151-02 132nd Ave. Airgate II is also a warehouse that spans 66,000 square feet with 12 dock-high and three grade-level loading positions and parking for 76 cars at 150-10 132nd Ave. The 73,000-square-foot Airgate III is a distribution building with 18 dock-high and one grade-level loading positions and parking for 138 cars at 152-02 Baisley Blvd. Airgate IV is an office building spanning 25,000 square feet and includes parking for 58 cars at 152-01 133rd Ave. The 0.2-acre paved parcel includes parking for 27 cars at Baisley Boulevard and 132nd Avenue. The estimated stabilized cap rate of the property is 5.3 percent, according to San Francisco-based Terreno Realty Corp.