ROCKAWAY, N.J. — CBRE has negotiated the $12.7 million sale of Pine Street Commons, an industrial flex property in Rockaway, located just west of New York City. The property consists of six buildings on a 17-acre site. Charles Berger and Jeffrey Babikian of CBRE represented the seller, an entity doing business as Pine Street Commons LLC, in the transaction. The team also procured an undisclosed private investor as the buyer. Pine Street Commons was roughly 95 percent leased at the time of sale.
WEST VALLEY CITY, UTAH — The LeClaire-Schlosser Group of Marcus & Millichap has arranged the sale of Towne Storage Colt Plaza, a 60,325-square-foot self-storage facility in West Valley City. A joint venture between Towne Storage and a local development company sold the asset to UTEX Storage Partners for an undisclosed price. Situated on 2.6 acres, the 467-unit facility consists of five single-story buildings and one two-story building with 125 drive-up units. Towne Storage Colt Plaza amenities include a gated entry with a digital keypad, an onsite management office in front of the entrance gate, 24/7 video surveillance throughout the facility, asphalt driveways and units with roll-up doors. Jordan Farrer and Adam Schlosser of Marcus & Millichap represented the seller in the deal.
KANSAS CITY, MO. — Ace Hardware has opened its new 1.5 million-square-foot retail support center at Hunt Midwest’s KCI 29 Logistics Park in Kansas City. The project marks the first completed development at the 3,300-acre industrial park. The retail support center will support Ace’s growing network of more than 5,000 locally owned retail locations. Measuring a half mile from end to end, the new facility is the largest distribution center in Kansas City by building footprint and is almost twice the size of Ace’s average retail support center, according to Hunt Midwest. Clayco served as general contractor for the build-to-suit facility, and BZI Steel installed the roof. Ace has installed automation and advanced warehouse technology systems to streamline operations and minimize environmental impact. KCI 29 Logistics Park is located in almost the exact center of the continental U.S. on I-29 and is adjacent to the Kansas City International Airport. The industrial park can support up to 17.8 million additional square feet of build-to-suit development.
HOUSTON — Metro Denver-based Spartan Investment Group has agreed to purchase a portfolio of seven self-storage facilities totaling 3,497 units in the Houston area. The portfolio totals 463,185 net rentable square feet and includes four properties in Houston proper, as well as facilities in Katy, Rosenberg and Sugar Land. The seller and sales price, as well as the names of the operating entities of the facilities, were not disclosed. Spartan says that the formal closing date is imminent.
HOUSTON — Representative Materials Co. has signed a 119,355-square-foot industrial lease in northeast Houston. The manufacturer and distributor of conduit raceway systems is taking space within the building at 1055 W. Lake Houston Parkway, which is located within Generation Park Distribution Center. Jarret Venghaus, Jeff Venghaus and David Holland of JLL represented the owner, Outrigger Industrial, which recently bought the property, in the lease negotiations. Ryan Fuselier and David Buescher, also with JLL, represented the tenant. The deal brings the building to 46 percent occupancy.
WHITESTOWN, IND. — SkyREM has purchased a newly constructed warehouse totaling 565,560 square feet within 65 Commerce Park in the Indianapolis suburb of Whitestown. The development offers direct access to I-65 and proximity to the Indianapolis International Airport and CSX railroads. The facility is fully automated with robotics and is fully leased to a global e-commerce platform specializing in fashion. The property features a clear height of 36 feet and 55 dock doors. SkyREM purchased the asset from Strategic Capital Partners, a developer headquartered in Indianapolis.
ST. LOUIS — Inland Real Estate Investment Corp. and Devon Self Storage have completed an 80,217-square-foot self-storage facility with 797 units in St. Louis. The project at 4222 Union Blvd. involved the conversion of a warehouse into a climate-controlled self-storage property. The three-story facility features a 24-hour security system and is situated near I-70. Approximately 75 percent of St. Louis’ self-storage inventory is comprised of converted properties from prior uses, according to Inland, which maintains a self-storage portfolio of more than $1.8 billion in assets under management. Devon currently manages 190 properties across 31 states.
FORT WORTH, TEXAS — Cushman & Wakefield has brokered the sale of Midway Business Park, a 258,846-square-foot industrial park in East Fort Worth. Midway Business Park comprises 12 shallow-bay buildings that were constructed between 1973 and 1990 and that range in size from 2,000 to 40,000 square feet and feature a mix of front-load, cross-dock and rear-load configurations. The property was 91 percent leased to 29 tenants at the time of sale. Jim Carpenter, Jud Clements, Robby Rieke, Trevor Berry and Emily Brandt of Cushman & Wakefield represented the seller, Cohen Asset Management, in the transaction. The buyer, a Atlanta-based developer Ackerman & Co., was self-represented. The new ownership has tapped PI Real Estate Services & Investments as the leasing agent.
LAFAYETTE, GA. — Pilgrim’s, a global food company primarily known for producing and processing chicken and pork, will invest $400 million for the construction of a new prepared foods facility located in the northwestern corner of Georgia in LaFayette, about 30 miles south of Chattanooga, Tenn. Situated within Walker County Business Park, the multi-phase development is expected to create more than 630 new jobs at full capacity. The project is scheduled to break ground in the fall, and hiring is expected to begin in 2027, aligning with the scheduled completion of the first phase of construction. Lori Dowdy, in partnership with the Walker County Development Authority and Georgia Quick Start, internally represented the Georgia Department of Economic Development’s (GDEcD) Global Commerce team in the Pilgrim’s deal. Pilgrim’s currently operates seven food production facilities across Georgia, employing roughly 7,500 people.
DENVER — Malman Real Estate has arranged the purchase of an industrial property located at 4995 Olive St. in Denver. Olive HQ LLC acquired the asset from Appleman LLC for $2.7 million. Jake Malman of Malman Real Estate represented the buyer, while Russell Gruber of Gruber Commercial Real Estate represented the seller in the deal.