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Industrial

FloridaIndustrialLeasing ActivitySoutheast

CBRE Arranges 42,143 SF Industrial Lease in Royal Palm Beach, Florida

by John Nelson

ROYAL PALM BEACH, FLA. — CBRE has arranged a 42,143-square-foot industrial lease within Royal Palm Logistics Center, an industrial property located at 1131 N. State Road 7 in Royal Palm Beach, a city in South Florida’s Palm Beach County. The tenant, Bush Brothers Provision Co., is a family-owned meat packing and distribution company based in nearby West Palm Beach. Set to open its new space in August, the move represents the first relocation for Bush Brothers since 1925, according to CBRE. The tenant plans to create 25 new positions in addition to its existing 65-person workforce. Kirk Nelson, Robert Smith and Jeff Kelly of CBRE represented the tenant in the lease negotiations. The developer is McCraney Property Co. Royal Palm Logistics Center features 32-foot clear heights, an ESFR sprinkler system and dock-high and grade-level loading.

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4626-Somerton-Road-Feasterville-Trevose
DevelopmentIndustrialLoansNortheastPennsylvania

JLL Secures Construction Debt, Equity for 320,250 SF Industrial Project Near Philadelphia

by Taylor Williams

FEASTERVILLE-TREVOSE, PA. — JLL has secured construction debt and joint venture equity for a 320,250-square-foot industrial project in Feasterville-Trevose, about 20 miles northeast of Philadelphia. The sponsor is regional developer J.G. Petrucci Co. The building will be situated on a 19.5-acre site at 4626 Somerton Road and will feature a clear height of 36 feet, 55 tailgate doors, two drive-in doors and parking for 56 trailers and 195 cars. Jon Mikula, John Plower, Ryan Cottone and Michael Lachs of JLL arranged the construction loan through Principal Asset Management and structured the joint venture with Boston-based Cabot Properties.

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3000-3010-E-La-Jolla-St-Anaheim-CA.
AcquisitionsCaliforniaIndustrialWestern

CBRE Negotiates $18.5M Sale of Two-Building Industrial Complex in Anaheim, California

by Amy Works

ANAHEIM, CALIF. — CBRE has arranged the sale of an industrial complex located at 3000-3010 E. La Jolla St. in Anaheim. A Southern California-based private seller sold the asset to an undisclosed buyer for $18.5 million. Anthony DeLorenxo, Gary Stache, Bryan Johnson, Nick Williams and Keith Greer of CBRE Investment Properties represented the seller in the deal. Totaling 88,128 square feet, the complex consists of a 50,128-square-foot building at 3000 E. La Jolla St. and a 37,128-square-foot building at 3010 E. La Jolla St. Both facilities feature a dock and truck well. Sonfarrel Aerospace, an aerospace part manufacturer, has fully occupied the asset since 1974 and will continue to do so.

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IndustrialLoansNew JerseyNortheast

G.S. Wilcox Arranges $49M Loan for Refinancing of Northern New Jersey Industrial Portfolio

by Taylor Williams

CARLSTADT, N.J. — Locally based financial intermediary G.S. Wilcox & Co. has arranged a $49 million loan for the refinancing of a portfolio of four industrial buildings totaling 570,000 square feet in the Northern New Jersey community of Carlstadt. The buildings were constructed in the 1980s and feature clear heights of 22 feet, several loading docks and proximity to the New Jersey Turnpike. Gretchen Wilcox and David Fryer of G.S. Wilcox arranged the five-year, interest-only loan through an unnamed lender. The borrower was also not disclosed.

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Constellation-Eldridge-Houston
DevelopmentIndustrialTexas

Constellation Real Estate to Develop 537,375 SF Industrial Project in Northwest Houston

by Taylor Williams

HOUSTON — Constellation Real Estate Partners has acquired 25.8 acres at 6401 N. Eldridge Parkway in northwest Houston for the development of a 537,375-square-foot industrial project. Designed by Seeberger Architecture, Constellation Eldridge will feature 40-foot clear heights, 127 trailer parking spaces and an ESFR sprinkler system. The developer has tapped CBRE as the leasing agent. Construction will begin in the first quarter with the demolition of an existing administrative building on the site, and delivery is slated for the fourth quarter.

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AcquisitionsIndustrialSelf-StorageTexas

Versal Arranges Sale of 309-Unit Self-Storage Facility in Rockport, Texas

by Taylor Williams

ROCKPORT, TEXAS — Self-storage brokerage firm Versal has arranged the sale of Stowaway Storage, a 309-unit facility in Rockport, located about 35 miles northeast of Corpus Christi in South Texas. The facility spans 34,626 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, Texas-based investment firm Curren Cos. Inc., in the transaction. The team also procured the undisclosed, Texas-based private buyer.

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IndustrialLeasing ActivityNew JerseyNortheast

Colliers Negotiates 431,720 SF Industrial Lease Extension in Southern New Jersey

by Taylor Williams

FLORENCE TOWNSHIP, N.J. — Colliers has negotiated a 431,720-square-foot industrial lease extension in the Southern New Jersey community of Florence Township. The cross-dock, single-tenant building at 1500 John Galt Way is located within The Haines Center Industrial Park and features clear heights of 30 to 37 feet. Marc Isdaner and Alex Stringfellow of Colliers represented the tenant, paper products provider Sylvamo North America, in the lease negotiations. Regional developer Whitesell Construction Co. owns the property.

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IndustrialLeasing ActivityMassachusettsNortheast

Yankee Candle Co. Opens 360,000 SF Warehouse, Distribution Center in Hatfield, Massachusetts

by Taylor Williams

HATFIELD, MASS. — The Yankee Candle Co. has opened a 360,000-square-foot warehouse and distribution center in the Central Massachusetts city of Hatfield. The company will occupy the entirety of the building at 142 Elm St., which was constructed in 1968 and totals 359,938 square feet, according to LoopNet Inc. Joe Garvey of Cushman & Wakefield and Mitch Bolotin of Colebrook Realty Services represented the tenant in the lease negotiations. Tyler McGrail, J.R. McDonald, Eric Jeremiah and Margaret Fee of Newmark represented the landlord, Boston-based FoxRock Properties.

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IndustrialLee & AssociatesTexas

Used Bikes Direct Signs 22,630 SF Industrial Lease in Houston

by Taylor Williams

HOUSTON — Used Bikes Direct, which sells pre-owned motorcycles, has signed a 22,630-square-foot industrial lease in Houston. The building at 16445 North Freeway was constructed on 1.4 acres in 1982 and formerly served as a furniture store and warehouse. Judy Beebe and Chris Klein of Colliers represented the tenant in the lease negotiations. Zane Carmen and Clay Pritchett of Partners Real Estate represented the landlord, an entity doing business as Bet Ezra LLC.

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AcquisitionsFloridaIndustrialSoutheast

JLL Brokers $38.5M Sale of Industrial Portfolio in Miami

by John Nelson

MIAMI — JLL has brokered the $38.5 million sale of Milpa & Wesley Center, an industrial portfolio located at 6801-7500 N.W. 77th Ave. in Miami. The property, which was 91 percent occupied at the time of sale, comprises 182,575 square feet across six buildings. Cofe Properties LLC sold the portfolio to Miami Palmetto Property LLC, an entity co-sponsored by East Capital Partners and ABR Capital Partners’ GP Investment Program. Luis Castillo, Cody Brais, Wells Waller, Taylor Osborne and Aaliyah St. Louis of JLL represented the seller in the transaction. The property features 17- to 19-foot clear heights, 12 dock-high and 101 grade-level doors and 275 parking spaces.

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