FORT WORTH, TEXAS — California-based brokerage firm Matthews Real Estate Investment Services has negotiated the $5.2 million sale of a 69,000-square-foot industrial building occupied by Beacon Roofing Supply in Fort Worth. According to LoopNet Inc., the property at 5328 E. Lancaster Ave. was built on 7.2 acres in 1969 and renovated earlier this year. Building features include 16-foot clear heights and four dock-high loading doors. Alexander Harrold of Matthews represented the seller in the transaction. The buyer was a Nashville-based family office. Both parties requested anonymity.
DALLAS — Lee & Associates has brokered the sale of a 40,546-square-foot industrial building in East Dallas. According to LoopNet Inc., the property at 3700 Dilido Road was originally built in 2002. Taylor Stell and Brett Lewis of Lee & Associates represented the buyer and seller, both of which requested anonymity, in the transaction. The sales price was also not disclosed.
BAY SHORE, N.Y. — Duro Dyne National Corp., a manufacturer of sheet metal accessories and equipment for the HVAC industry, has extended its single-tenant lease at 81 Spence St., a 128,600-square-foot industrial building located in the Long Island community of Bay Shore. The extension runs through 2035. A partnership between Metropolitan Realty Associates and Angelo Gordon owns the building, which features a clear height of 24 feet, 10 loading docks and two drive-in doors. No outside brokers were involved in the deal.
AURORA, COLO. — A 1031 exchange buyer has acquired a self-storage facility in Aurora for $2 million. The facility is located at 1521 Oswego St. It features 180 storage units, plus a management office and apartment. The lot is two blocks away from the Anshutz Medical Campus. The buyer was able to sell multiple apartment buildings to exchange into this new venture. Quentin Shore, Chris Knowlton and Jim Knowlton of the Knowlton Lawson Team at Pinnacle Real Estate Advisors arranged the transaction.
National headlines report Amazon, arguably the largest warehouse user in the country, curtailing demand and, in some cases returning space back to landlords. This is sandwiched by stories detailing rising interest rates and land prices, stricter entitlement guidelines and NIMBYs working to apply the brakes on new developments. But, in “The Land of Pleasant Living,” (a Baltimore nickname made popular by the smart advertising of a local beer), the industrial revolution continues. And, for good reason. More than 2.3 million square feet of industrial/warehouse space was leased in the greater Baltimore metropolitan region in fourth-quarter 2022, with a net absorption of more than 1.2 million square feet of space, contributing to an overall vacancy rate of 4.5 percent. Additionally, more than 13 million square feet of space is currently under construction and rents have soared more than 50 percent over the past two years, with an average rent of just under $8 per square foot in late 2022. Significant leases signed in fourth-quarter 2022 included Baltimore International Warehousing & Transportation’s 244,304-square-foot lease at 5250-5330 Holabird Ave.; Amazon’s 241,962-square-foot lease at 1713 E. Patapsco Ave. and the 168,655-square-foot lease executed by Transdev at 1610 Wicomico St. Baltimore is contained within …
LEBANON, TENN. — Texas-based Griffin Partners is underway on the development of a 2 million-square-foot industrial project in Lebanon, roughly 30 miles east of Nashville. Dubbed Earhart Industrial Park, the property will comprise two large speculative warehouses. The first warehouse will total 863,573 square feet and feature 367 car parking spaces and 196 trailer parking spaces. Totaling nearly 1.2 million square feet, the second building will include 448 car parking spaces and 284 trailer spaces. Both warehouses will have depths of 640 feet and clear heights of 40 feet. Melissa Alexander, W.B. Scoggin, Casey Flannery and Warren Snowdon of Foundry Commercial’s Industrial Services team will handle leasing at the development, which is scheduled for delivery in the third quarter of 2024.
LAWRENCEVILLE AND LILBURN, GA. — CBRE’s Self Storage Advisory Group has brokered the $43.6 million sale of a portfolio comprising three self-storage properties within metro Atlanta’s Gwinnett County. Located at 2600 Lawrenceville Highway and 1475 Grayson Highway in Lawrenceville and 3950 Five Forks Trickum Road in Lilburn, the properties total 242,500 square feet and 1,912 units. The occupancy rate was 94 percent at the time of sale. CBRE represented the seller, Gwinnett Self Storage, in the transaction. Wentworth Property Co. acquired the portfolio.
ROUND ROCK, TEXAS — Developer IDI Logistics has broken ground on Sunrise Commerce Center, a 465,786-square-foot speculative industrial project in the northern Austin suburb of Round Rock. The development will consist of five buildings that will be constructed in phases on a 37-acre site. Phase I will feature three rear-load buildings that will range in size from 59,274 to 175,170 square feet and are expected to be complete before the end of the year. Other project partners include 5G Studio Collaborative, Pacheco Koch (civil engineer), Adolfson & Peterson Construction and Stream Realty Partners (leasing agent).
GARLAND, TEXAS — Lee & Associates has negotiated a 19,386-square-foot industrial lease at 3520 W. Miller Road in Garland, a northeastern suburb of Dallas. According to LoopNet Inc., the property was built in 2003 and totals 64,500 square feet. Taylor Stell of Lee & Associates represented the tenant, HVAC equipment supplier Timberlake & Dickson, in the lease negotiations. Josh Barnes of Holt Lunsford Commercial represented the landlord, The Realty Associates Fund XI.
CARSON, CALIF. — Partners Capital has purchased a five-building industrial portfolio in Carson, a city 17 miles south of Los Angeles. The portfolio contains five buildings for a total of 38,152 square feet. Known as Carson Business Park, the asset is located on a two-acre site at 401 to 409 Gardena Blvd. The park was fully leased at the time of sale to 16 unique tenants with a weighted average lease term of about 0.8 years. In-place rents are about 61 percent below market rates. Scott Schumacher, Aaron Banks, Kevin Shannon, Andrew Briner and Anthony Muhlstein of Newmark represented the seller, an entity doing business as Carson Five LLC, in the transaction. The seller and sales price were not disclosed.