Industrial

Fort Capital Acquires 226,663 SF Industrial Portfolio in Euless, Texas

by Taylor Williams July 18, 2022

EULESS, TEXAS — Locally based investment firm Fort Capital has acquired a portfolio of 10 Class B industrial buildings totaling 226,663 square feet in Euless, located in the central part of the Dallas-Fort Worth metroplex. At the time of sale, the portfolio was 98 percent leased to a roster of 36 tenants in industries such as logistics, furniture and fabrication. All of the buildings were constructed between 1964 and 1985, with most construction dates trending toward the latter end of that range. The seller and sales price were not disclosed.

July 18, 2022

Industrial Leasing Activity Texas

Lee & Associates Negotiates 38,353 SF Industrial Lease in Dallas

by Taylor Williams July 18, 2022

DALLAS — Lee & Associates has negotiated a 38,353-square-foot industrial lease at 9755 Clifford Drive in Dallas. According to LoopNet Inc., the building sits on 8.5 acres and totals 114,500 square feet. Adam Graham and Stephen Williamson of Lee & Associates represented the landlord, Link Industrial Properties, in the lease negotiations. The name and representative of the tenant were not disclosed.

July 18, 2022

Industrial Loans New Jersey Northeast Pennsylvania

Cushman & Wakefield Arranges $367.8M in Financing for Mid-Atlantic Industrial Portfolio

by Taylor Williams July 18, 2022

NEW YORK CITY — Cushman & Wakefield has arranged a $367.8 million in financing for a portfolio of 23 industrial properties totaling approximately 3 million square feet in the Mid-Atlantic region. Specifically, the properties are located in Pennsylvania, Maryland and New Jersey and were fully leased to 41 tenants at the time of sale. Tenant footprints range in size from 7,238 to 478,715 square feet. John Alascio, Alex Hernandez, Alex Lapidus, Chuck Kohaut, T.J. Sullivan and Jason Blankfein of Cushman & Wakefield arranged the loan through J.P. Morgan on behalf of the borrower, Ares Management.

July 18, 2022

Florida Loans Self-Storage Southeast

Aztec Group Arranges $23M Refinancing for Self-Storage Facility in South Florida

by John Nelson July 18, 2022

AVENTURA, FLA. — Aztec Group has arranged the $23 million refinancing of a five-story, climate-controlled self-storage facility in the Miami suburb of Aventura. Glendale, Calif.-based self-storage operator Public Storage operates the property. Built in 2018, the facility offers 84,000 square feet of rentable space across 946 units. Jason Shapiro and Charles Penan of Aztec Group arranged the loan through the direct lender, an affiliate of Miami-based 3650 REIT, on behalf of the borrower, South Florida-based America’s Capital Partners. The nonrecourse, fixed-rate loan will be interest-only for the full 10-year term.

July 18, 2022

Development Industrial Midwest Minnesota

CRG Begins Development of 1 MSF Spec Warehouse in Suburban Minneapolis

by Kristin Harlow July 18, 2022

DAYTON, MINN. — CRG has begun development of The Cubes at French Lake, a 1 million-square-foot speculative warehouse in the Minneapolis suburb of Dayton. Located at 11500 Lawndale Lane near the intersection of County Road 81 and Dayton Parkway, the project will be the largest speculative industrial development in Minnesota, according to CRG. Completion is slated for 2023. The facility will feature a clear height of 40 feet, 652 parking spaces, a 185-foot truck court, 231 trailer parking spaces, 169 dock doors, four drive-in doors and 60-foot speed bays. CRG affiliate Lamar Johnson Collaborative designed the project, while CRG’s parent company Clayco will serve as general contractor. Chris Garcia and Grace McGuire of Lee & Associates are marketing the project for lease.

July 18, 2022

Acquisitions California Industrial Western

Dalfen Industrial Buys 86,680 SF Property in San Diego from Alcion Ventures, LPC West

by Amy Works July 18, 2022

SAN DIEGO — Dalfen Industrial has acquired a freestanding industrial building, located at 7615 Siempre Viva Road in San Diego’s Otay Mesa submarket. A partnership between Alcion Ventures and Lincoln Property Co. West sold the asset for $24.8 million. Mark Lewkowitz and Chris Holder of Colliers represented the buyer and seller in the deal. Totaling 86,680 square feet, the building is divisible by 45,180 square feet and features 20 dock-high doors, two grade-level roll-up doors, a sprinkler system, 27- to 28-foot clear heights, 1,500 amps, a 180-foot truck court and 6,950 square feet of office space.

July 18, 2022

California Development Industrial Western

Duke Realty Southern California Completes Four Industrial Projects in Metro Los Angeles

by Amy Works July 15, 2022

LONG BEACH AND FONTANA, CALIF. — The Southern California office of Duke Realty has completed four industrial facilities, totaling 335,984 square feet in Long Beach and Fontana. The properties include: A newly leased, 173,121-square-foot facility at 10905 Beech Ave. in Fontana. A pre-leased, 40,850-square-foot asset at 1180 Spring St. in Long Beach. A 72,526-square-foot building at 2861 Orange Ave. in Long Beach. A 49,487-square-foot property at 2851 Orange Ave. in Long Beach. Zac Sakowski of JLL and Mike Condon Jr. of Cushman & Wakefield are listing brokers for the Long Beach properties, while Clyde Stauff and Jace Gan of Colliers International are listing brokers for the Fontana development. Duke Realty is currently constructing nine additional properties, totaling 2 million square feet and a 4.6-acre trailer yard, in Irwindale, Perris, Redlands, Fontana, Anaheim and Lynwood.

July 15, 2022

Acquisitions California Industrial Western

CenterSquare, RAF Pacifica Group Sell 202,844 SF Industrial Facility in Vista, California

by Amy Works July 15, 2022

VISTA, CALIF. — A joint venture between CenterSquare and RAF Pacifica Group has completed the disposition of 1 Viper Way, an industrial property located in Vista. BLT Enterprises acquired the asset for an undisclosed price. Totaling 202,822 square feet, the facility features 28-foot clear heights, 20 dock-high doors, 16 grade-level doors, heavy power and ample skylights to provide natural light and energy efficiencies. At the time of sale, the property was fully leased to two tenants. Cushman & Wakefield advised CenterSquare and RAF Pacifica Group in the initial acquisition in 2021, as well as the lease-up and sale of the property.

July 15, 2022

Colorado Development Industrial Top Stories Western

Pepsi Buys 152 Acres in Denver to Develop 1.2 MSF Manufacturing Plant

by Jeff Shaw July 15, 2022

DENVER — PepsiCo Beverages North America (PBNA), a subsidiary of food and beverage giant PepsiCo Inc. (NASDAQ: PEP), has acquired nearly 152 acres of land in Denver. The company plans to build a 1.2 million-square-foot manufacturing facility on the site, which will be its largest in the country. The project will be triple the size of Pepsi’s existing facility in Denver’s River North Art District, where the company has operated since the 1950s. The new plant is scheduled to open in 2023 and will produce a variety of the company’s name-brand beverages, such as Pepsi, Pepsi Zero Sugar, Gatorade, bubly, Rockstar, Propel and Muscle Milk. The site is located within the Denver High Point development area, a massive, 5 million-square-foot industrial park currently under construction approximately 18 miles east of downtown near Denver International Airport. The new Pepsi plant will be the company’s most sustainable yet, according to the company, with plans for 100 percent renewable electricity, best-in-class water efficiency and reduced virgin plastic use. The initiative is part of Pepsi’s “pep+” pledge to positively impact the planet. Pepsi says the new location will also create 250 new jobs, in addition to the 250 employees already working at the downtown …

July 15, 2022

Industrial Loans Midwest Ohio

Northmarq Arranges $3.2M Loan for Refinancing of Industrial Property in Cincinnati

by Kristin Harlow July 15, 2022

CINCINNATI — Northmarq has arranged a $3.2 million loan for the refinancing of Kemper Commerce Park in Cincinnati. The 145,485-square-foot industrial property consists of two buildings. Christina Grimme of Northmarq arranged the 10-year, fixed-rate loan, which features a 20-year amortization schedule. A life insurance company provided the loan for the undisclosed borrower.

July 15, 2022

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