CORPUS CHRISTI, TEXAS — Self-storage brokerage firm Versal has arranged the sale of a 306-unit facility in Corpus Christi. The property spans 41,848 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, Andover Properties, which operated the facility under its Storage King USA brand, in the transaction. The team also procured the buyer, an undisclosed, publicly traded REIT.
HOUSTON — Colliers has negotiated a 10,533-square-foot industrial lease in Houston. According to LoopNet Inc., the property at 7420 Wynnpark Drive was built in 1967 and totals 49,088 square feet. John Parsley and Jeff Peltier of Colliers represented the tenant, furniture provider Meredith O’Donnell Inc., in the lease negotiations. Boone Smith of Stream Realty Partners represented the undisclosed landlord.
GRIMES, IOWA — Covetrus has signed a lease to relocate its operations to an 80,000-square-foot distribution center at Prairie Business Park in Grimes, a northwest suburb of Des Moines. The animal health technology and services company is expanding its footprint by 27,000 square feet. From its new location, Covetrus will serve veterinarians and their practices across several states. Austin Barrett of Savills represented Covetrus. R&R Realty Group owns the property.
DAVENPORT, FLA. — Eastern Union has arranged a $10.1 million loan for the ground-up construction of a self-storage facility in Davenport, roughly 65 miles east of Tampa. Marc Tropp of Eastern Union secured the four-year loan on behalf of the undisclosed borrower. The lender was also not disclosed. Upon completion, the development will comprise 690 units across five stories, with a gross square footage of 103,020 square feet and 76,431 square feet of rentable space. Malvern, Pa.-based CubeSmart will operate the facility.
EAST RUTHERFORD, N.J. —Seagis Property Group has completed the renovation of a 202,490-square-foot industrial building located at 13 Manor Road in the Northern New Jersey community of East Rutherford. The metro Philadelphia-based development and investment firm has also signed an undisclosed tenant to a full-building lease at the property, which features a clear height of 22 feet, 16 docks and 84 car parking spaces. Seagis purchased the building, which previously functioned as a manufacturing facility, in 2006.
ST. CHARLES, ILL. — Lee & Associates has brokered the $1.2 million sale of a 10,696-square-foot industrial building in the western Chicago suburb of St. Charles. Andrew Block of Lee & Associates represented the buyer, Labels & Specialty Products. The transaction marks the buyer’s second facility in St. Charles. Michael Marconi and Mark Kaplarevic of Transwestern represented the seller, Voestalpine Eifeler Coatings.
NORTH PLAINS, ORE. — Colliers has arranged the completion of a 10-year lease agreement with DB Schenker, as the tenant, and the forward sale of North Plains Logistics Center to STAG Industrial Holdings. Far West Fibers sold the asset for an undisclosed price. Situated on 10.5 acres in North Plains, located within Oregon’s Silicon Forest submarket just west of Portland, North Plains Logistics Center features 201,750 square feet of industrial space. Jerry Matson and Colin Russell of Colliers, along with West Industrial Capital Markets’ Michael Kendall and Gian Bruno, represented the seller in the deal. Matson and Cole Hooper of Colliers represented tenant, DB Schenker, in the site selection and lease negotiations. Matson and Russell also represented the landlord in lease negotiations.
SAN DIMAS, CALIF. — CBRE has brokered the sale of Arrow Pines Business Park, an industrial business park in San Dimas. Arrow SD LLC acquired the asset from SoCal Industrial LLC, a joint venture between Birtcher Anderson Davis & Associates and Belay Investment Group, for $9.2 million. Built in 1987, Arrow Pines Business Park offers three buildings ranging in size from 11,240 square feet to 16,473 square feet, with unit sizes varying from 960 square feet to 3,192 square feet. The 44,125-square-foot property features 12- to 15-foot clear heights and 32 grade-level doors. The property is situated on 3.1 acres at 210 and 260 W. Arrow Highway and 440 S. Cataract Ave. CBRE Investment Properties’ Mark Shaffer, Anthony DeLorenzo, Gerand Poutier and Dylan Rutigliano, along with CBRE National Partners’ Barbara Perrier and Eric Cox, represented the seller in the deal.
HOUSTON — Locally based development and brokerage firm Finial Group has completed a 90,328-square-foot industrial project in South Houston. The project represents the third and final phase of Independence Business Park and consists of three buildings that total 46,378, 18,525 and 25,425 square feet. Each building features more than 2,000 square feet of office space. All told, Independence Business Park comprises seven freestanding buildings on a roughly 19-acre site.
FORT MYERS, FLA. — McGarvey Development has sold CenterLinks Business Park, a 41-acre property in Fort Myers, to EQT Exeter for $92.5 million. Situated along Oriole Road west of I-75, the property features nine warehouses spanning 450,000 square feet that were leased to 40 tenants at the time of sale. CenterLinks features 100 percent dock-high flex units as well as space that can be used as office or medical office. Four years after breaking ground, McGarvey Development began receiving acquisition offers from private equity firms when the park was about 90 percent built out. A chance encounter between longtime acquaintances McGarvey president John McGarvey and Ward Fitzgerald, global CEO of EQT Exeter, led to the acquisition, which is the largest industrial sales price in the history of Southwest Florida’s Lee County, according to McGarvey.