Industrial

Newmark Zimmer Arranges Sale of 275,000 SF Industrial Property in Edwardsville, Kansas

by Kristin Harlow March 23, 2022

EDWARDSVILLE, KAN. — Newmark Zimmer has arranged the sale of a 275,000-square-foot industrial property in Edwardsville, a western suburb of Kansas City. The sales price was undisclosed. The cross-dock truck terminal facility, which is fully leased to one tenant, features 335 truck doors and sits on a 126-acre site at 9140 Woodend Road. Originally constructed in 1999, the facility was expanded in 2013 and 2019. Jerry Hopkins, Ken Hedrick, Mark Long, John Hassler and Alex Foshay of Newmark Zimmer brokered the transaction. Buyer and seller information was not provided.

March 23, 2022

Industrial Leasing Activity New Jersey Northeast

LaserShip Logistics Signs 327,000 SF Industrial Lease in Southern New Jersey

by Taylor Williams March 23, 2022

LOGAN TOWNSHIP, N.J. — Freight company LaserShip Logistics has signed a 327,000-square-foot industrial lease at Building F at Logan North, a 3.2 million-square-foot speculative development in Southern New Jersey. John Dingle & Dean Torosian of JLL represented the tenant in the negotiations for the full-building lease. Torosian also worked with Nate Demetsky and Matt Kemery of JLL to represent the landlord, a partnership between Advance Realty Investors and Greek Development.

March 23, 2022

Acquisitions Illinois Industrial Midwest

Clear Height Properties, Blackbird Investment Group Sell 56,500 SF Industrial Building in Suburban Chicago

by Kristin Harlow March 22, 2022

ELK GROVE VILLAGE, ILL. — A joint venture between Clear Height Properties and Blackbird Investment Group has sold a 56,500-square-foot industrial building located at 1400 Greenleaf Ave. in the Chicago suburb of Elk Grove Village. The sales price was undisclosed. The partnership acquired the property in January 2021 and invested $720,000 in renovations. Originally constructed in 1973, the building features a clear height of 18 feet, three loading docks and 9,500 square feet of office space. Justin Lerner of Transwestern represented both the sellers as well as the buyer, Ideal Property Investments. Avatar Financial Group provided a $1.5 million bridge loan for the acquisition.

March 22, 2022

Acquisitions Industrial Northeast Pennsylvania

Realterm Acquires 45-Acre Parking Facility in Bethlehem, Pennsylvania

by Taylor Williams March 22, 2022

BETHLEHEM, PA. — Global logistics operator Realterm has acquired a 45-acre parking and maintenance facility in the Lehigh Valley community of Bethlehem. The site offers proximity to Interstate 78 and U.S. Route 22, as well as rail service from Lehigh Valley Rail Management. John Plower, Ryan Cottone, Chad Hillyer, Zach Maguire and Sean Christman of JLL represented the undisclosed seller in the transaction. The property was fully leased at the time of sale.

March 22, 2022

Industrial Leasing Activity New Jersey Northeast

SEKO Logistics Signs 164,000 SF Industrial Lease in Logan Township, New Jersey

by Taylor Williams March 22, 2022

LOGAN TOWNSHIP, N.J. — Global freight company SEKO Logistics has signed a 164,000-square-foot industrial lease at Building A at Logan North, a 3.2 million-square-foot speculative development in Southern New Jersey. Kevin Dudley, Nick Klackik and Jeff Kapcheck of CBRE represented the tenant in the lease negotiations. Nate Demetsky, Dean Torosian and Matt Kemery of JLL represented the landlord, a partnership between Advance Realty Investors and Greek Development.

March 22, 2022

Acquisitions Arizona Development Industrial Western

Greystar Buys 154-Acre Industrial Development Site Near Phoenix Mesa Gateway Airport for $43.7M

by Amy Works March 22, 2022

MESA, ARIZ. — Greystar has acquired a 154-acre industrial development near Phoenix Mesa Gateway Airport from Phoenix-based Unbound Development. The acreage sold for $43.7 million. Located in Phoenix, the asset consists of six different parcels and provides Greystar with a Class A industrial development opportunity. Unbound spent the last year and a half acquiring the 154 acres located near the northeast corner of Pecos and Sossaman roads and obtaining approval from Mesa’s planning and zoning board for a development named Unbound Gateway. Unbound purchased 18 acres in September 2021 and remaining 136 acres in January 2022 for a combined total of $27.1 million. Greystar will utilize the development team that Unbound had assembled, with Derek Builders as general contractor, Deutsch Architecture Group as designer and Hunter Engineering as civil engineer. The development will feature approximately 2.2 million square feet in three buildings, including a 1.2 million-square-foot building, a 517,029-square-foot building and a 476,229-square-foot building.

March 22, 2022

Acquisitions California Industrial Western

Majestic Asset Management Buys Six-Building Industrial Campus in Goleta, California for $50.7M

by Amy Works March 21, 2022

GOLETA, CALIF. — Agoura Hills-based Majestic Asset Management has purchased a six-building industrial/R&D campus located at 315-346 Bollay Drive and 320-340 Stork Road in Goleta, for $50.7 million in an off-market transaction. The asset was part of a portfolio of commercial properties managed by The Towbes Group. Situated on 11.9 acres, the 194,625-square-foot portfolio is occupied by multiple tenants, including Lockheed Martin, Alcon Research, Electro Optical Industries, The Good Work Space, DeLabs and Santa Barbara Imaging Systems. Francois DeJohn and Steve Hayes of Hayes Commercial Group represented the buyer in the transaction.

March 21, 2022

Acquisitions California Development Industrial Western

Kubato Tractor Acquires Land Parcel in Elk Grove, California for 632,000 SF Distribution Center

by Amy Works March 21, 2022

ELK GROVE, CALIF. — Kubato Tractor Corp. has closed escrow on a 43.7-acre land parcel located at 10251 E. Grant Line Road in Elk Grove. Terms of the transaction were not released. Kubato plans to develop a 632,000-square-foot Western Regional Distribution Center at the site, which has an additional 12-plus acres of expansion land for future needs. The company will relocate from its 180,000-square-foot facility in Lodi, where it has operated its Western distribution center since 2005. Tim Pryor of Mid Cal Industrial Properties and Ken Noack of Newmark Knight Frank handled the transaction.

March 21, 2022

Development Industrial Texas

Creation Equity Breaks Ground on 555,790 SF Industrial Project in Mesquite, Texas

by Taylor Williams March 21, 2022

MESQUITE, TEXAS — Phoenix-based developer Creation Equity has broken ground on Mesquite 635, an industrial project that will be located on the eastern outskirts of Dallas and will total roughly 556,000 square feet. Creation Equity is developing the property, which will comprise two rear-load buildings and one front-load building, in partnership with Crow Holdings Capital. Building A will span 159,728 square feet and feature 32-foot clear heights and 37 trailer parking spots. Building B will comprise 156,144 square feet and offer 32-foot clear heights and 27 trailer stalls. Building C will total 239,918 square feet and feature 36-foot clear heights and 46 trailer parks. LGE Design Group is the project architect and general contractor. Completion is slated for the second quarter of 2023.

March 21, 2022

Industrial Leasing Activity Lee & Associates Texas

Shoppa’s Material Handling Signs 65,814 SF Industrial Lease in Fort Worth

by Taylor Williams March 21, 2022

FORT WORTH, TEXAS — Shoppa’s Material Handling, a provider of industrial equipment and machinery, has signed a 65,814-square-foot industrial lease in Fort Worth. Reid Bassinger and Trey Fricke of Lee & Associates represented the tenant in the lease negotiations. Adam Graham and Mark Graybill, also with Lee & Associates, represented the landlord, ML Realty Partners.

March 21, 2022

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