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Industrial

AcquisitionsIllinoisIndustrialMidwest

Industrial Outdoor Ventures Acquires 5.7-Acre Property in Roselle, Illinois

by Kristin Harlow

ROSELLE, ILL. — Industrial Outdoor Ventures (IOV) has acquired an industrial outdoor storage (IOS) property located at 160 N. Garden Ave. in Roselle. The 5.7-acre property features a 28,964-square-foot maintenance building and a 1,350-square-foot standalone office. The maintenance building features 13 drive-thru service bays and four additional drive-in doors. IOV plans to make improvements to the facility as part of a leasing initiative. With this acquisition, IOV owns seven Chicago-area assets totaling 90 acres with approximately 158,500 square feet of buildings for storage, maintenance and complementary uses. Matt Garland of Cawley represented the seller, a regional cell tower construction and maintenance company. Garland and Andrew Maletich of Cawley have been named the leasing agents for the property.

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165-S-Price-Rd-Chandler-AZ
AcquisitionsArizonaIndustrialWestern

Unbound Development Buys 100,000 SF Industrial Building in Chandler, Arizona

by Amy Works

CHANDLER, ARIZ. — Unbound Development of Phoenix has acquired a freestanding industrial building in Chandler from Rogers Corp. for $14 million. Located at 165 S. Price Road, the 100,000-square-foot property was vacant at the time of sale. Built in 1982 and renovated in 2005, the building features 8,400 amps of power, expandable to 150 megawatts, an oversized lot and Loop 101 freeway frontage. The single-tenant property is situated on 16.7 acres. Unbound Development plans to upgrade the property to meet the needs of today’s users. Joshua Wyss and Steven Mardian of Cushman & Wakefield represented the seller, while Michael Kitlica of Cushman & Wakefield represented the buyer in the transaction.

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AcquisitionsIndustrialMichiganMidwestSelf-Storage

Marcus & Millichap Arranges Sale of 1,103-Unit Self-Storage Property in Metro Detroit

by Kristin Harlow

WESTLAND, MICH. — Marcus & Millichap has arranged the sale of Five Star Store It, a 1,103-unit self-storage property in the Detroit suburb of Westland. The sales price was undisclosed. The facility sits on 22 acres at 5235 S. Merriman Road and features 30 climate-controlled units, 774 non-climate-controlled units and 229 parking spaces totaling 115,707 net rentable square feet. A retail component on the property will be converted into climate-controlled storage. Brett Hatcher, Gabriel Coe and Nathan Coe of Marcus & Millichap represented the private regional seller and procured the buyer, MyPlace Storage.

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IllinoisIndustrialLeasing ActivityLee & AssociatesMidwest

Lee & Associates Negotiates 188,142 SF Industrial Lease in Carol Stream, Illinois

by Kristin Harlow

CAROL STREAM, ILL. — Lee & Associates of Illinois has negotiated a 188,142-square-foot industrial lease at 815 Kimberly Drive in the Chicago suburb of Carol Stream. The 406,000-square-foot property is now fully leased. Kenneth Franzese, John Cassidy and Jay Farnam of Lee & Associates represented the landlord, Prologis. NAI Hiffman represented the tenant, Bulldog Cartage, which is undergoing an expansion from its primary location in Addison, Ill.

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IllinoisIndustrialLeasing ActivityMidwest

Amsco Distributing Signs 15,000 SF Industrial Lease in Huntley, Illinois

by Kristin Harlow

HUNTLEY, ILL. — Amsco Distributing has signed a 15,000-square-foot industrial lease at 11419 Smith Drive in the Chicago suburb of Huntley. Kevin Kaplan of Entre Commercial Realty negotiated the lease. The tenant will utilize the facility for its third-party logistics operations. The multi-tenant building is also home to Pound for Pound Fitness.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 140-Unit Self-Storage Facility in Garland, Texas

by Taylor Williams

GARLAND, TEXAS — Marcus & Millichap has brokered the sale of Storage Fit, a 140-unit self-storage facility in Garland, a northeastern suburb of Dallas. The facility is located at 3701 Dividend Drive and features 47,539 net rentable square feet. A West Coast-based 1031 exchange investor sold the property to a private, locally based investment group for an undisclosed price. Danny Cunningham and Brandon Karr of Marcus & Millichap brokered the deal.

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IndustrialLeasing ActivityTexas

Holt Lunsford Negotiates 46,000 SF Industrial Lease in Northwest Dallas

by Taylor Williams

DALLAS — Holt Lunsford Commercial has negotiated a 46,000-square-foot industrial lease at 904 Regal Row in northwest Dallas. Sam Crain, Harrison Davis and Oliver Day of Holt Lunsford represented the tenant, Fresh from Texas LLC, in the lease negotiations. Kevin Griffiths and Michael Haggar with JLL represented the undisclosed landlord. Information on the property was not available via LoopNet.

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AcquisitionsIndustrialNew JerseyNortheast

Taconic Partners Acquires Central New Jersey Industrial Property for $74.3M

by Taylor Williams

NORTH BRUNSWICK, N.J. — Regional investment firm Taconic Partners has acquired a 360,000-square-foot industrial property in North Brunswick, located roughly midway between Trenton and Newark, for $74.3 million. The site at 1735 Jersey Ave. spans 17 acres, and the building offers a clear height of 24 feet and 24 loading positions. Tenants at the property, which was fully leased at the time of the loan closing, include pallet manufacturer and distributor Kamps Inc. and furniture rental company Luxe Living Design. Jordan Avanzato, Marc Duval, Nicholas Stefans and Jason Lundy of JLL brokered the deal. The seller was not disclosed. Evan Pariser and Aaron Niedermayer, also with JLL, arranged $46.6 million acquisition financing through J.P. Morgan for the deal on behalf of Taconic Partners.

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IndustrialMassachusettsNortheast

JLL Brokers Recapitalization of 217,217 SF Industrial Flex Portfolio in Greater Boston

by Taylor Williams

NORWOOD, WOBURN AND BILLERICA, MASS. — JLL has brokered the recapitalization of a portfolio of four industrial flex properties totaling 217,217 square feet in the greater Boston area. The facilities are located in Norwood, Woburn and Billerica and were all fully leased at the time of sale to a combined seven tenants. A fund managed by Berkeley Real Estate Partners previously owned the portfolio and sold the assets to a new joint venture in which Berkeley is the managing member and Invesco Real Estate as an investment partner. Michael Restivo, Andrew Gray and David Coffman of JLL structured the recapitalization on behalf of Berkeley. Brett Paulsrud, Andrew Gray, Hugh Doherty and Ali Howard, also with JLL, arranged acquisition financing for the deal on behalf of Invesco.

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IndustrialLeasing ActivityNew JerseyNortheast

Yahee Technologies Corp. Signs 154,000 SF Industrial Lease in Cranbury, New Jersey

by Taylor Williams

CRANBURY, N.J. — Yahee Technologies Corp., a provider of home furniture, pet supplies and outdoor and garden products, has signed a 154,000-square-foot industrial lease within Prologis Cranbury Business Park in Central New Jersey. The building at 3 Security Drive, which according to LoopNet Inc. totals 201,093 square feet, features a clear height of 32 feet and 21 dock doors. Christopher Galiano of NAI DiLeo-Bram represented the tenant in the lease negotiations. KBC Advisors represented Prologis.

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