Industrial

CBRE Arranges $20M Sale of Chancellor Square Industrial Complex in Orlando

by John Nelson February 18, 2025

ORLANDO, FLA. — CBRE has arranged the $20 million sale of Chancellor Square, an industrial complex spanning 142,069 square feet in Orlando. Boca Raton, Fla.-based Basis Industrial purchased the property from Miami-based B Group Capital Management. Ronald Rogg of CBRE represented the seller in the transaction, along with Sebastian Barbagallo and Franco Barbagallo of B Group Capital. Anthony Scavo and Ahmad Elayyan represented Basis Industrial internally. Situated on 23 acres in Orlando’s Central Park area, Chancellor Square comprises three single-story freestanding buildings that feature light industrial, flex and showroom space. The property was fully leased at the time of sale to government and publicly traded companies, according to CBRE.

February 18, 2025

Acquisitions Industrial Kentucky Southeast

Brennan Acquires 100,000 SF Industrial Facility Near CVG Airport in Hebron, Kentucky

by John Nelson February 18, 2025

HEBRON, KY. — Brennan Investment Group has purchased a 100,000-square-foot industrial facility located at 1102 Aviation Blvd. near the Cincinnati & Northern Kentucky International Airport (CVG) in Hebron. The property is located on 18 acres off I-275 near Amazon Prime Air Hub. The seller and sales price were not disclosed, though Brennan says it purchased the infill facility at below replacement cost. The Chicago-based investment firm plans to renovate and update the facility over the course of its ownership.

February 18, 2025

Acquisitions North Carolina Self-Storage Southeast

Andover Properties Buys 500-Unit Self-Storage Facility in Rockingham, North Carolina

by John Nelson February 18, 2025

ROCKINGHAM, N.C. — New York-based Andover Properties has purchased a self-storage facility located at 102 W. Greene St. in Rockingham, about 70 miles southeast of Charlotte. Renovated in 2022, the property comprises nearly 500 climate-controlled units and spans 63,000 square feet. The facility represents the 15th North Carolina facility for Andover’s Storage King USA brand. The property features three loading docks, multiple levels of storage units, keypad-controlled entry and 24/7 video surveillance. The seller and sales price were not disclosed.

February 18, 2025

Arizona Development Industrial Western

Creation Breaks Ground on 144,885 SF Source Logistics Center in Tempe, Arizona

by Amy Works February 18, 2025

TEMPE, ARIZ. — Creation has started construction of Source Logistics Center, a Class A industrial facility in Tempe. The company acquired the 15-acre site at the southeast corner of Warner Road and Hardy Drive in partnership with CrossHarbor Capital Partners as investor. The 144,885-square-foot project will feature a clear height of 32 feet, abundant power and 6 acres of contiguous yard space allowing for flexible storage or excess passenger vehicle, trailer or box-truck parking. The property also offers access to Interstate 10 and Loop 101, as well as Union Pacific rail spur capabilities. LGE Design Build is serving as architect and general contractor for Source Logistics Center, which is slated for completion in mid-2026. Cooper Fratt, John Werstler and Tanner Ferrandi of CBRE are handling leasing efforts for the project.

February 18, 2025

Acquisitions Arizona Industrial Western

MAG Capital Partners Acquires Infill Industrial Property in Northwest Phoenix

by Amy Works February 18, 2025

PHOENIX — MAG Capital Partners has purchased an industrial building located at 2848 Sweetwater Ave. in northwest Phoenix for an undisclosed price. Sunrun and Kaboomracks fully occupy the 39,950-square-foot building, which is situated on 3.1 acres. Phil Haenel and Foster Bundy of Cushman & Wakefield represented the seller, a private investor, in the deal.

February 18, 2025

Development Industrial Massachusetts Northeast

Partnership Completes 82,790 SF Warehouse in Peabody, Massachusetts

by Taylor Williams February 18, 2025

PEABODY, MASS. — A partnership between two local development and investment firms, Oliver Street Capital and Bain Capital Real Estate, has completed an 82,790-square-foot warehouse in Peabody, a northern suburb of Boston. The project is a build-to-suit for Christianbook, and the site is contiguous to the literary retailer’s existing headquarters. Locally based design-build firm Dacon Corp. handled the architectural and general contracting aspects of the partnership in conjunction with Fraser Project Management.

February 18, 2025

Industrial Leasing Activity Texas

Peak Paper Plastics Subleases 22,560 SF of Industrial Space in North Houston

by Taylor Williams February 17, 2025

HOUSTON — Peak Paper Plastics, a Chicago-based wholesaler, has subleased 22,560 square feet of industrial space in North Houston. The space is located at 3717 Yale St., a building that according to LoopNet Inc. is part of a larger complex that totals 137,647 square feet and was built in 1975. Austen Buckalew of locally based brokerage firm Oxford Partners represented the subtenant in the negotiations. Dustin Cruz and Kayla Kigh of Cresa represented the sublandlord, an entity doing business as Crazy Boss LLC.

February 17, 2025

Keystone-Trade-Center-Fairless-Hills-Pennsylvania

Industrial Leasing Activity Northeast Pennsylvania

Colliers, KBC Advisors Negotiate 517,641 SF Industrial Lease in Fairless Hills, Pennsylvania

by Taylor Williams February 17, 2025

FAIRLESS HILLS, PA. — Colliers and KBC Advisors have negotiated a 517,641-square-foot industrial lease in Fairless Hills, located just outside of Trenton in Eastern Pennsylvania. The space is located within Keystone Trade Center, a 15 million-square-foot campus that is a redevelopment of a former steel mill. Michael Golarz and Tom Golarz of Colliers, in conjunction with Mark Chubb, Mike Zerbe and Summer Coulter of KBC Advisors, represented the landlord, Missouri-based NorthPoint Development, in the lease negotiations. Michael Lee and Drew Maffey with Lee & Associates represented the tenant, global third-party logistics provider Cirro.

February 17, 2025

Acquisitions Delaware Industrial Northeast

Outrigger Industrial Acquires 125,000 SF Property in Bear, Delaware

by Taylor Williams February 17, 2025

BEAR, DEL. — Outrigger Industrial, which is a joint venture between four private real estate investors and firms Davidson Kempner Capital Management and Monarch Alternative Capital, has acquired a 125,000-square-foot property in Bear, located south of Wilmington. The property comprises two buildings totaling 40,000 and 85,000 square feet on an 8-acre site that were fully leased to a single tenant at the time of sale. The seller and sales price were not disclosed.

February 17, 2025

California Development Industrial Western

Partnership Delivers 163,000 SF Harbor Logistics Center in Santa Ana, California

by Amy Works February 17, 2025

SANTA ANA, CALIF. — Kearny Real Estate Co. and Dune Real Estate Partners have completed the construction of Harbor Logistics Center, a Class A warehouse and distribution complex at 3100 S. Harbor Blvd. in Santa Ana. The project was delivered nine months after demolition of the site’s existing 200,000-square-foot office campus. Accessible from three public streets, the 163,000-square-foot Harbor Logistics Center features a clear height of 36 feet, 17 dock-high doors, ESFR sprinklers and a 185-foot-deep truck court, as well as 7,000 square feet of built-out office space. The asset also offers rooftop solar panels and tenant parking stalls with electric vehicle charging. Additionally, the project is divisible to 98,000 square feet. Ben Seybold, Sean Ward and Keith Greer of CBRE’s Orange County, Calif., office is handling leasing for Harbor Logistics Center.

February 17, 2025

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