PISCATAWAY, N.J. — JD.com, a global e-commerce firm based in Beijing, has signed a 216,892-square-foot industrial lease in the Northern New Jersey community of Piscataway. Indianapolis-based REIT Duke Realty (NYSE: DRE) is developing the facility, which will feature a clear height of 40 feet and 38 trailer parking spaces, with a target completion date of this fall. Noah Balanoff and Jacquelyn Severino of Colliers, along with internal agents Ben Rosen and Gregg Bazzani, represented Duke Realty in the lease negotiations. Chuck Fern, Jason Barton and Thomas Tucci of Cushman & Wakefield, along with Andy Ho of Kander Pacific Inc., represented the tenant.
Industrial
NEW YORK CITY — Seattle-based lender Columbia Pacific Advisors has provided a $36 million loan for the refinancing of an industrial property located along the Hudson River in The Bronx. The property is a 480,000-square-foot outdoor storage yard that is situated on a 14-acre site. The borrower is locally based developer Dynamic Star. Will Nelson led the transaction for Columbia Pacific Advisors.
BRIDGEVILLE, PA. — Marcus & Millichap has brokered the $30 million sale-leaseback of a 346,009-square-foot industrial facility in Bridgeville, a southern suburb of Pittsburgh. Built on 31 acres in 1980, the four-building property features clear heights of 11 to 28.5 feet, 26 dock-high doors and five grade-level doors. Adam Abushagur of Marcus & Millichap represented the seller, a sister company of the tenant, IT firm Black Box Corp., in the transaction. Abushagur also procured the buyer, Spirit Realty Capital.
WEST CHICAGO, ILL. — Stonemont Financial Group and developer Stotan Industrial are building a 258,720-square-foot speculative industrial project in West Chicago. Completion of the Class A development is slated for February 2023. Named DuPage Crossings, the facility will feature a clear height of 36 feet, 32 exterior docks, 45 trailer stalls and 219 parking spaces. The 17-acre project will be situated within the Fox Valley submarket and offer immediate access to I-88.
CHICAGO — NAI Hiffman has negotiated the sale of a 225,000-square-foot refrigerated warehouse in Chicago’s Back of the Yards neighborhood as well as the business occupying the facility, Ashland Cold Storage. The sales price was undisclosed. The buyer, Karis Cold, has engaged Artico Cold Storage to assume the facility’s operations. The property is located at 1556 W. 43rd St. within Chicago Stockyards Industrial Park. John Basile of NAI Hiffman and Jay Maher of Nelson Hill represented Karis Cold, which focuses exclusively on the cold storage industry.
CHARLOTTE, N.C. — Avison Young has brokered the $35 million sale of a 300,000-square-foot industrial facility located at 10800 Withers Cove Park Drive in southwest Charlotte. Built in 2000, the property was fully leased at the time of sale to Essendant, a national wholesale distributor of office supplies. The facility features a concrete tilt-wall construction, cross-dock loading, an ESFR sprinkler system and available land for future expansion opportunities or excess trailer parking. Tom Tropeano, Chris Loyd and Chris Skibinski of Avison Young’s Charlotte industrial team represented the private seller in the transaction. The buyer and seller were not disclosed.
FORT WORTH, TEXAS — Car parts manufacturer Westin Automotive Products has signed 128,400-square-foot industrial lease renewal at Railhead Industrial Park, a 633-acre development in Fort Worth. The rail-served park is located on the city’s north side. Reid Bassinger of Lee & Associates represented the tenant in the lease negotiations. Matt Carthey and George Jennings of Holt Lunsford Commercial represented the landlord, James Campbell Co.
HOUSTON — NAI Partners has brokered the sale of a 26,125-square-foot warehouse located at 6927 Brittmoore Road in northwest Houston. According to LoopNet Inc., the single-tenant property was built in 2006, renovated in 2015 and features 30-foot clear heights. Zane Carman and Clay Pritchett of NAI Partners represented the seller, an entity doing business as Brittmoore Properties LLC, in the transaction. Jack Gaffney of Finial Group represented the undisclosed buyer.
INDIANAPOLIS — In a sale-leaseback transaction, MAG Capital Partners LLC has acquired a 34,630-square-foot industrial facility in Indianapolis for an undisclosed price. The building sits on three acres at 6266 Morenci Trail. The seller, Printing Technologies Inc., has occupied the property since its founding in 1994. The facility was originally built in 1984. Based in Fort Worth, Texas, MAG Capital Partners is led by Dax Mitchell and Andrew Gi.
ADDISON, ILL. — Clear Height Properties has sold a 31,385-square-foot industrial building in Addison for $3.1 million. Clear Height purchased the property at 345 S. Fairbank St. in November and completed improvements such as roof repair, interior renovations, dock repairs, masonry repair and new LED lighting. Justin Lerner, Joe Karmin and Ross Lehrman of Transwestern represented Clear Height. Brent DeNoble and Doug Altenberger of Lee & Associates represented the undisclosed buyer.