Industrial

Harbor Associates, Evergen Equity Buy $55M Industrial Portfolio in Gardena, California

by Amy Works November 28, 2023

GARDENA, CALIF. — A joint venture between Harbor Associates and Evergen Equity has purchased an industrial portfolio in Gardena from a local investor for $55 million in an off-market transaction. Gardena is in the South Bay area of greater Los Angeles. Located at 690-760 W. 190th St., the portfolio consists of four adjacent buildings ranging in size from 17,000 square feet to 45,000 square feet. The 7.5-acre site is located within the 34 million-square-foot Gardena/Harbor industrial submarket and is immediately next to the I-405/I-110 interchange. Eric Cox, Barbara Perrier and Darla Longo of CBRE represented the seller in the deal.

November 28, 2023

Illinois Industrial Leasing Activity Midwest

Entre Commercial Realty Negotiates 68,825 SF of Industrial Subleases in Libertyville, Illinois

by Kristin Harlow November 28, 2023

LIBERTYVILLE, ILL. — Entre Commercial Realty has negotiated two subleases totaling 68,825 square feet in the Chicago suburb of Libertyville. The property at 801 Technology Way is now fully leased and features a clear height of 24 feet, eight truck docks, two grade-level doors and ample parking. In the first transaction, AAT Sales Inc. subleased 24,777 square feet. The provider of food service equipment is relocating and expanding from nearby Northbrook. Rob Elbrecht of Tri State Realty represented the subtenant, while Dan Benassi and Sam Deihs of Entre represented the sublandlord. LED Tranquility Inc., a full-service audio, video, lighting and scenic company, subleased 44,048 square feet. Dan Benassi and Sam Deihs of Entre represented the sublandlord and were the sole brokers for the lease.

November 28, 2023

Arizona Development Industrial Loans Western

JLL Arranges $12M Construction Loan for ATLAS Germann Industrial Development in Gilbert, Arizona

by Amy Works November 28, 2023

GILBERT, ARIZ. — JLL Capital Markets has arranged $12 million in construction financing for ATLAS Germann, an industrial development in Gilbert. The borrowers are ATLAS and OakPoint. Jason Carlos, Jarrod Howard, Steve Larsen and Kyle Westfall of JLL Capital Markets secured the five-year, fixed-rate loan from a regional bank. Snack-food manufacturer Frito-Lay Inc., a subsidiary of PepsiCo, will fully occupy the 60,500-square-foot property that is situated on 8.2 acres.

November 28, 2023

Data Centers Development Industrial Texas

H5 Data Centers to Undertake Expansion at Downtown San Antonio Campus

by Taylor Williams November 27, 2023

SAN ANTONIO — Denver-based owner-operator H5 Data Centers will undertake an expansion project at its San Antonio campus, which is located at 100 Taylor St. in the downtown area. The expansion will add turnkey colocation space that can support an additional 340 cabinets and up to 1.5 megawatts of additional power capacity. A construction timeline was not disclosed. The campus currently consists of two buildings totaling 85,000 square feet.

November 27, 2023

Industrial Leasing Activity Texas

Partners Real Estate Negotiates 13,410 SF Industrial Lease in Dallas Design District

by Taylor Williams November 27, 2023

DALLAS — Partners Real Estate has negotiated a 13,410-square-foot industrial lease in the Dallas Design District. According to LoopNet Inc., the single-tenant property at 2050-2062 Irving Blvd. was built in 1952 and renovated earlier this year. Building features include 14-foot clear heights and two drive-in bays. Hanes Chatham Jr. of Partners represented the landlord, an entity doing business as 2050 Irving Blvd., in the lease negotiations. DeAnna Green of Nydan Group represented the tenant, The Blueprint University.

November 27, 2023

Industrial Leasing Activity Texas

Toshiba America Renews 9,569 SF Industrial Flex Lease in Farmers Branch, Texas

by Taylor Williams November 27, 2023

FARMERS BRANCH, TEXAS — Toshiba America Business Solutions Inc. has renewed its lease for 9,569 square feet of industrial flex space at 4350 Spring Valley Road in the northern Dallas metro of Farmers Branch. Jason Finch of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as SB Tech Center LLC, in the lease negotiations. Brooke Benedict of Colliers represented the tenant.

November 27, 2023

Acquisitions Illinois Industrial Lee & Associates Midwest

Lee & Associates Brokers Sale of 94,490 SF Industrial Facility in Schaumburg, Illinois

by Kristin Harlow November 27, 2023

SCHAUMBURG, ILL. — Lee & Associates has brokered the sale of a 94,490-square-foot industrial facility in the Chicago suburb of Schaumburg for an undisclosed price. Constructed in 1988, the building is located at 2050 Mitchell Blvd. adjacent to Schaumburg Regional Airport. Terry Grapenthin, Michael Plumb and Ryan Earley of Lee & Associates represented the undisclosed seller. Nick Krejci and Noel Liston of Core Industrial Realty represented the buyer, a manufacturing user.

November 27, 2023

Acquisitions Industrial Midwest Ohio

Comunale Acquires 19,671 SF Industrial Building in Hilliard, Ohio

by Kristin Harlow November 27, 2023

HILLIARD, OHIO — Comunale Properties has acquired a 19,671-square-foot industrial building located on Parkway Lane in Hilliard, a northwest suburb of Columbus. The purchase price was undisclosed. The seller will lease back a portion of the property’s warehouse space on a short-term basis while relocating its operations. Immediately upon acquisition, Comunale leased the remainder of the building to a national mechanical, fire protection and HVAC services company that will eventually occupy the entire premises. Situated on three acres, the building features a clear height of 24 feet. Ray Boll and Jeff Boll of RJ Boll Realty represented the undisclosed seller.

November 27, 2023

Acquisitions Industrial New Jersey Northeast

Seagis Property Group Buys 30,058 SF Industrial Building in Carlstadt, New Jersey

by Taylor Williams November 27, 2023

CARLSTADT, N.J. — Seagis Property Group has purchased a 30,058-square-foot industrial building within Gotham Industrial Park in the Northern New Jersey community of Carlstadt. The building, which was vacant at the time of sale, sits on 1.5 acres and features a clear height of 16 feet, four loading docks and roughly 1,500 square feet of office space. Leo Josephs and Joshua Meisner of Leo Josephs & Co. represented Seagis, which plans to implement a value-add program, in the transaction. The seller and sales price were not disclosed.

November 27, 2023

Acquisitions Illinois Industrial Midwest Top Stories

CBRE Arranges Sale of 1.1 MSF Industrial Campus in West Chicago

by Taylor Williams November 27, 2023

CHICAGO — CBRE has arranged the sale of a two-building, 1.1 million-square-foot industrial campus located at 4700-4800 Proviso Drive and 5000 Proviso Drive in Chicago. The properties are located in the Melrose Park neighborhood on the west side of the city. The site is located roughly 10 miles from O’Hare International Airport and is also near the Union Pacific Intermodal railway and the interchange of interstates 290 and 294. According to data from CBRE, the O’Hare submarket had an industrial vacancy rate of 2.4 percent as of the third quarter. Houston-based Hines purchased the campus for an undisclosed price. Zach Graham, Michael Caprile and Joe Horrigan of CBRE represented the unnamed seller in the transaction. The campus was fully leased at the time of sale, with a single logistics user that has been in place for approximately 20 years occupying each of the three spaces. Building features include 32- and 35-foot clear heights, one dock per 5,000 square feet of space, 159 trailer parking stalls and the capacity for dual rail loading. Hines plans to implement a value-add program to make improvements at the property. “This transaction represented a compelling opportunity given its strategic infill location in the densely populated …

November 27, 2023

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