Friday, April 4, 2025
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Industrial

DevelopmentGeorgiaIndustrialLeasing ActivitySoutheast

Logistics Property Co. Signs Three Industrial Leases Totaling 373,000 SF in Covington, Georgia

by John Nelson

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.

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1268-E-Grant-Line-Rd-Tracy-CA
CaliforniaIndustrialLoansWestern

CBRE Secures $70.2M in Financing for 606,343 SF Distribution Center in Tracy, California

by Amy Works

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.

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RightSpace-Storage-Spanish-Fork-UT.jpg
AcquisitionsIndustrialSelf-StorageUtahWestern

Marcus & Millichap Arranges Sale of 364-Unit RightSpace Storage Facility in Spanish Fork, Utah

by Amy Works

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.

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AcquisitionsIndustrialMidwestMinnesota

CBRE Negotiates Sale of Jacquard Distribution Center in Lakeville, Minnesota for $22M

by Kristin Harlow

LAKEVILLE, MINN. — CBRE has arranged the sale of the Jacquard Distribution Center, a 168,000-square-foot industrial property in Lakeville, for $22 million. Advanced Exhaust Solutions purchased the facility from Lakeville Jacquard 32 LLC. Built in 2023, the property features a clear height of 36 feet, 32 dock doors, an ESFR sprinkler system, 101 parking spaces and 48 trailer stalls. It is situated on a 14.3-acre site just east of I-35 and minutes from Airlake Airport. Jeff Przytarski, Bryan Van Hoof, Sam Manke, Kyle Ferderer and Chance Lindsey of CBRE represented the seller.

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AcquisitionsIndustrialMidwestNebraskaSelf-Storage

Matthews Arranges $15.5M Sale of Self-Storage Portfolio in Nebraska

by Kristin Harlow

NORTH PLATTE, NEB. — Matthews Real Estate Investment Services has negotiated the $15.5 million sale of a four-property self-storage portfolio in North Platte, located in the west-central part of Nebraska. The facilities are located at 3109 S. Willow St., 2020 E. Philip Ave., 2505 W. Rodeo Road Ave. and 214 N. Lakeview Road. The portfolio totals 208,083 net rentable square feet across 1,142 units. Mason Gates of Matthews brokered the transaction. The seller, Matthew Ackerman of ASONP LLC, sought to divest the portfolio after years of building one of the largest self-storage footprints in Nebraska. The buyer, HAN Capital LLC, is a property investment company based in Chicago looking to expand its self-storage footprint across Nebraska and the broader Midwest. The transaction marked the largest broker-facilitated self-storage deal in the state by price and square footage, according to Matthews. The deal was structured with a blend of conventional and seller financing.

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DevelopmentIndustrialSelf-StorageTexas

SurePoint to Develop 761-Unit Self-Storage Facility in Missouri City, Texas

by Taylor Williams

MISSOURI CITY, TEXAS — SurePoint Development, a self-storage owner-operator based in San Antonio, will develop an 761-unit self-storage facility in Missouri City, a southwestern suburb of Houston. The site is located along FM 521 just south of Sienna Parkway near Johnson Development’s Sienna master-planned community, where SurePoint opened another self-storage facility in 2021. CubeSmart will operate the new facility, which will comprise 95,000 net rentable square feet, inclusive of climate-controlled space. Construction is set to begin this summer. A tentative completion date was not announced.

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IndustrialLeasing ActivityTexas

Allied Plastic Supply Signs 24,000 SF Industrial Lease in Northwest Houston

by Taylor Williams

HOUSTON — Allied Plastic Supply LLC has signed a 24,000-square-foot industrial lease in northwest Houston. According to showcase.com, the property at 5250 N. Sam Houston Parkway W was built in 2007 and features 24-foot clear heights. Garret Geaccone of Stream Realty Partners represented the landlord, Prologis, in the lease negotiations. Joe Berwick of JLL represented the tenant, which provides custom plastic fabrication services.

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INOVA-Centennial-CO
ColoradoDevelopmentIndustrialWestern

United Properties Procures $20.1M JV Equity for 442,450 SF Industrial Project Near Denver

by Amy Works

CENTENNIAL, COLO. — Cushman & Wakefield served as the exclusive advisor to United Properties in the procurement of a $20.1 million joint venture equity investment for Phase I of INOVA, a Class A multi-tenant industrial project being constructed in Centennial. The planned 442,450-square-foot project will consist of five shallow-bay, rear-load industrial buildings on nearly 43 acres, with each building on a separate parcel. Phase I of INOVA will include a 141,480-square-foot building and a 113,770-square-foot building on individual parcels, totaling 255,250 square feet of industrial space. Phase II is currently planned to be two 93,600-square-foot front-park, rear-load buildings, totaling 187,200 square feet. The project also includes an additional vacant 5-acre pad site that can house a 43,700-square-foot freestanding building, which is being targeted for a build-to-suit user. Will Strong, Michael Matchett, Molly Hunt, Jack Stamets and Madeline Warren of Cushman & Wakefield’s National Industrial Advisory Group — Mountain West represented United Properties in the equity transaction. Tyler Smith, Alex Rhodes and Aaron Valdez of Cushman & Wakefield provided local advisory services for the assignment and will represent the venture in leasing the project.

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1555-Burke-Ave-San-Francisco-CA
AcquisitionsCaliforniaIndustrialWestern

MCA Realty Buys 40,000 SF Multi-Tenant Industrial Building in San Francisco

by Amy Works

SAN FRANCISCO — MCA Realty has acquired a multi-tenant industrial building located at 1555 Burke Ave. in San Francisco for $11 million. The firm purchased the building with its MCA Realty Industrial Growth Fund II from a San Francisco-based private investor in an off-market transaction. MCA Realty plans to implement a capital improvement program at the 40,000-square-foot building. Planned exterior upgrades include new paint, concrete repairs, roof overlay, modern landscaping, identity signage and exterior fencing. Interior improvements include office refreshes, new carpet/ceiling tiles and bathroom fixtures, LED lighting, painting and insulation of the warehouse. The building features 16 condominium units featuring 18-foot clear heights, grade-level loading, well-designed ingress/egress and efficient warehouse and office layouts. At the time of sale, the property was 94 percent leased to 15 tenants. Jim Farris of JMF Capital represented the buyer, while Karl Hansen of CBRE represented the seller in the deal.

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DevelopmentIndustrialMidwestOhio

Sansone Group to Develop 212,000 SF Cold Storage Facility in Columbus, Ohio

by Kristin Harlow

COLUMBUS, OHIO — Sansone Group, in partnership with Clous Road Partners, has secured an 18.6-acre site in Columbus for the development of a 212,000-square-foot cold storage facility. Located on Groveport Road in the northern Rickenbacker submarket, the site is less than five miles from Rickenbacker International Airport and offers direct access to distribution routes, including I-270, I-70 and I-71. The project will feature temperature settings ranging from 40 to minus 20 degrees Fahrenheit and 50-foot clear freezer heights. Construction is expected to begin this summer. Sansone Group has partnered with JLL and CBRE to market the property. The project team includes Kadean Construction and Hercules Construction Management.

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