EASTON, PA. — NAI Summit has arranged the $3 million sale of the historic former Crayola warehouse and distribution center in the Lehigh Valley community of Easton. Originally built in the 1890s as a manufacturing facility by Crayola predecessor Binney & Smith, the property consists of four buildings totaling 94,000 square feet on an 8.9-acre site. Matt Sprung of NAI Summit represented the seller, an out-of-state investor, in the deal. A local developer purchased the property with plans to implement a residential conversion.
LAFAYETTE, N.J. — The Metropolitan YMCA of the Oranges will open a 10,200-square-foot pickleball facility in the Northern New Jersey community of Lafayette. The six-court facility will be located within a freestanding industrial flex building at 11 Millpond Drive and is expected to open in November. John Schilp of NAI James E. Hanson represented the landlord in the lease negotiations. HQW Architects is designing the space, and Berardi Building Co. is handling the build-out.
CHICAGO — Chicago-based Logistics Property Co. LLC has received a $205 million permanent loan from PGIM Real Estate. The loan included five projects within the firm’s first develop-to-core fund, LPC Logistics Venture One LP. The five projects total nearly 2.7 million square feet across seven buildings. Frederickson ONE, Building 4 and Building 7 are in the Seattle market, 94 Logistics Park is in the Chicago market and Logistics 83 and North Penn Logistics Center are in the Southeast Pennsylvania/New Jersey market.
MONUMENT, COLO. — Ware Malcomb has announced the completion of a flagship facility for Eagle Rock Distributing Co. in Monument, approximately 20 miles north of Colorado Springs. Ware Malcomb provided integrated services, including civil engineering, architecture and interior design, and Murray & Stafford provided general contracting services for the 272,500-square-foot project. Eagle Rock specializes in the distribution of alcoholic beverages, offering its customers a selection of premium, craft and imported beers, wine, spirits, liquors and other related beverages. The distribution center consists of two buildings: a 262,500-square-foot distribution center and an adjacent 10,000-square-foot maintenance facility to service the company’s trucks. The distribution center includes 209,175 square feet of Controlled Environment Warehouse (CEW), a 12,480-square-foot key cooler, 30,125-square-foot two-story office space, loading docks and an event hosting area on each floor with an outdoor patio. The maintenance facility has a sand/oil interceptor and sanitary line connected. Additional improvements include solar panels covering most of the roofing, an asphalt parking lot, delivery truck loading ramps, concrete sidewalks, landscaping and all associated utilities.
PHOENIX — Stos Partners has purchased 236 and 240 North 48th Avenue in Phoenix from an owner-user for an undisclosed price. Situated on 5.3 acres, the property includes two freestanding industrial buildings totaling 94,836 square feet. Constructed in 1978, the 83,200-square-foot warehouse at 240 N. 48th Ave. features 3,450 square feet of office space, 24-foot clear heights, 19 dock-high doors, two grade-level loading doors, 7,000 amps, 45 parking spaces and direct access to Union Pacific Railroad with 10 rail spots. Built in 1979, the 11,636-square-foot building at 236 N. 48th Ave. offers 4,200 square feet of office space, one dock-high door, two grade-level loading doors and 14 auto parking spaces. Stos Partners plans to commence capital improvements to enhance the two buildings’ functionality and appeal, including exterior paint, parking lot and loading areas repairs, dock and ground-level doors repairs and roof and electrical system repairs. Phil Haenel, Gary Anderson and Foster Bundy of Cushman & Wakefield facilitated the transaction. Gary Anderson and Nik Vallens of Cushman & Wakefield are handling leasing for the buildings on behalf of Stos Partners.
LANHAM, MD. — Baldor Specialty Foods has opened a new 100,000-square-foot warehouse in Lanham, a Maryland suburb of Washington, D.C. The new facility is situated within Hargrove Industrial Campus and features 35 dock doors and refrigeration and frozen storage capabilities. Baldor currently has a staff of 140 employees at the facility, with plans to hire more drivers and warehouse staff. The Lanham facility serves as the fourth hub for the food distributor, joining Baldor’s headquarters in The Bronx and regional hubs in Boston and Philadelphia. The Lanham facility houses more than 7,000 premium and specialty produce, meat, fish, dairy and grocery items.
SANFORD, FLA. — SRS Real Estate Partners has brokered the $15.8 million sale of a 109,610-square-foot industrial building located at 2963 Stonewall Place in Sanford, roughly 28 miles north of Orlando. The buyer, Harvest Valley, a leading foodservice distributor specializing in Asian cuisine, plans to convert the property to a cold storage facility to serve its Central Florida clients. Wayne Schuchts, Michael Palmer and Andrew Lehrer of SRS’ industrial team represented Harvest Valley in the sale. The seller was not disclosed. The property was built in 2018 and sits on nine acres.
BIRMINGHAM, ALA. — Cushman & Wakefield / EGS Commercial Real Estate has arranged a 51,750-square-foot industrial lease at CenterState Logistics Park One, a newly constructed, 225,000-square-foot warehouse and distribution building located at 225 Daniel Payne Drive in north Birmingham. The tenant is Atlanta-based Conklin Metal Industries, a distributor of sheet metal, HVAC and duct fabrication supplies. The company is expanding its Birmingham footprint to accommodate growth within its manufacturing and distribution operations and is the first tenant to sign on at CenterState Logistics Park One. Mark Byers and Brad Moffatt of Cushman & Wakefield / EGS represented the landlord, an entity doing business as CenterState Logistics Park One LLC, in the lease negotiations. Jack Brown of Graham & Co. represented the tenant.
NEW BRAUNFELS, TEXAS — Developer CLX Ventures has completed New Braunfels Commerce Center, a 651,010-square-foot speculative industrial project on the northeastern outskirts of San Antonio. Designed by Powers Brown Architecture and built by Arch-Con Construction Corp., New Braunfels Commerce Center consists of four buildings ranging in size from 129,949 to 204,876 square feet on a 46.7-acre site. All buildings feature 32-foot clear heights, rear-load configurations, move-in ready office spaces, drive-in and dock doors, extended truck courts and ESFR sprinkler systems. Stream Realty Partners is the leasing agent. Construction began in August 2023.
EL PASO, TEXAS — Dallas-based Provident Industrial has sold the 345,394-square-foot Building III within Gateway Logistics Park in El Paso. Completed in August, the building features 36-foot clear heights, 59 dock doors, two ramp doors and a separately gated trailer staging area with 98 parking spaces, bringing the total trailer parking capacity to 173 stalls. The buyer was Philadelphia-based investment firm EQT Exeter, which also purchased Building I and II within Gateway Logistics Park earlier this year. Provident developed Building III in partnership with WestStar Bank and Singerman Real Estate. The sales price was not disclosed.