CARNEYS POINT, N.J. — CBRE has arranged the sale of a 707,400-square-foot industrial development site in Carneys Point, located along the Delaware River in Southern New Jersey. Known as Salem Commerce Park, the site is fully approved for the development of three buildings on three separate parcels, and the sale included a 10-acre tract that houses a 78,000-square-foot vacant office building. An affiliate of local developer D2 Organization sold the property to another local entity, EQT Exeter, for an undisclosed price. Brian Fiumara and Brad Ruppel of CBRE brokered the deal.
SPRINGFIELD, MASS. — Inland Private Capital Corp. and Devon Self Storage, which are both part of The Inland Real Estate Group of Cos., have completed a 601-unit self-storage redevelopment project in the western Massachusetts city of Springfield. The project converted a historic former factory building in the downtown area into a facility with three interconnected buildings totaling 59,837 net rentable square feet of climate-controlled space. The facility also features drive-thru unit capability and a 24-hour security system.
VALLEY COTTAGE, N.Y. — National Ramp has signed a 109,450-square-foot industrial lease in Valley Cottage, about 30 miles north of New York City. The space is located within Lincoln Logistics Rockland, a distribution facility that features a clear height of 36 feet, 34 dock doors and parking for 123 cars and 41 trailers. James Panczykowski of JLL and Adam Petrillo of Newmark represented the landlord, a partnership between Lincoln Equities and PCCP LLC, in the lease negotiations. National Ramp was self-represented.
JOLIET, ILL. — NAI Hiffman has negotiated the $1.5 million sale of an industrial outdoor storage (IOS) property in Joliet. The 7-acre fenced and secured site at 18424 NW Frontage Road features an 11,000-square-fot repair facility with four repair bays and approximately 100 trailer parking positions. It is situated 15 miles north of the CenterPoint Intermodal facility — Noth America’s largest inland port — and near I-55 and I-80. NAI Hiffman’s Disser Team, comprising Kelly Disser, Mike Freitag, Bill Byrne and TJ Feeney, represented the seller. Both the buyer and seller were privately owned trucking companies.
HUMBLE, TEXAS — SurePoint Development, a self-storage owner-operator based in San Antonio, will develop an 687-unit self-storage facility in Humble, a northeastern suburb of Houston. The site is located at the intersection of Sam Houston Tollway and Mesa Drive at the entrance to Johnson Development’s Fall Creek master-planned community. CubeSmart will operate the new facility, which will comprise 120,000 net rentable square feet of climate- and non-climate-controlled space. The facility will also feature boat/RV storage space and 10,000 square feet of mini-offices. Construction is set to begin before the end of the year. A tentative completion date was not announced. SurePoint is also planning a 761-unit facility in Missouri City.
HOUSTON — Hilltop Stones has signed a 121,795-square-foot industrial lease in northwest Houston. The manufacturer of granite, quartz and marble products is taking space at the building at 8760 Clay Road, which according to LoopNet Inc. was built in 1960 (renovated in 2010) and totals 356,953 square feet. Garret Geaccone and Boone Smith of Stream Realty Partners represented the landlord, DRA Advisors, in the lease negotiations. Wes Williams of Colliers represented the tenant.
EAST PROVIDENCE AND HOPE VALLEY, R.I. — JLL has arranged the sale of two self-storage facilitiestotaling 721 units in Rhode Island that are operated under the Go Store It brand. The properties are located at 3346 Pawtucket Ave. in East Providence and 1115 Main St. in Hope Valley and offer climate- and non-climate-controlled space. Matthew Wheeler, Adam Roossien, Brian Somoza and Steve Mellon of JLL represented the seller, a partnership between Madison Capital Group and affiliates of Cerberus Capital Management, in the transaction. Griffin Guthneck, also with JLL, led a team that arranged an undisclosed amount of acquisition financing for the purchase, which was part of a larger, 2,327-unit portfolio deal that included three facilities in Houston. The buyer was not disclosed.
COVINGTON, GA. — Logistics Property Co. LLC has signed three industrial leases totaling 373,000 square feet at Covington Commerce Center, a two-building industrial park in Covington, a city in Atlanta’s I-20 East submarket. The tenants were not disclosed, but Logistics Property Co. says the new users include both manufacturing and assembly tenants. The deals include a full-building lease at Building 100 and two deals at Building 200, where about 97,000 square feet remains available for lease. Myles Thomas of JLL represented the tenant in the Building 100 deal. Nathan Anderson and Matt Bentley of NAI Brannen Goddard represented the landlord in the lease deals. Civic partners at Covington Commerce Center include City of Covington, Newton County Economic Development and the Georgia Department of Economic Development.
TRACY, CALIF. — CBRE has secured $70.2 million in financing for Tracy 205 Logistics Center on behalf of Trammell Crow Co. Mike Walker and Brad Zampa of CBRE’s Debt and Structured Finance arranged the five-year loan through Barings. Adam Voelker and Will Parker of Trammell Crow Co. represented the borrower and Jack Cheng of Barings represented the lender in the financing. Located at 1268 E. Grant Line Road, Tracy 205 Logistics Center offers 606,343 square feet of Class A distribution space spread across 29.3 acres. Developed by Trammell Crow Co. in 2023, the property features a clear height of 40 feet, 4,000 amps of power, 103 dock doors and ample car and trailer parking.
SPANISH FORK, UTAH — Marcus & Millichap has arranged the sale of RightSpace Storage, a self-storage facility in Spanish Fork. Charles LeClaire and Adam Schlosser of The LeClaire-Schlosser Group of Marcus & Millichap, along with Jordan Farrer of Marcus & Millichap, represented the seller and secured the New York-based buyer. Terms of the transaction were not released. Situated on 5.1 acres, RightSpace Storage offers 364 units and 47,900 net rentable square feet. Built in 2001, the property contains four single-story self-storage buildings with 313 outdoor drive-up units and 49 surface parking spaces. The facility also features a gated entry with digital keypad, a freestanding building with leasing office and onsite manager quarters, 24/7 video surveillance, asphalt driveways and units with metal roll-up doors.