OCALA, FLA. — Atlanta-based MDH Partners has acquired 28 acres of industrial land in Ocala, with plans to construct Ocala Logistics Center, a 350,878-square-foot Class-A, cross-dock distribution building. The seller and the sales price for the land were not disclosed. Joe DeHaven served as the deal lead for MDH Partners. Clay Witherspoon with Avison Young represented the seller and will also lease the property on behalf of MDH. Peak Development Co. will act as the development manager for the project. Situated on 27.9 acres of land, Ocala Logistics Center will feature 279 parking spaces, ESFR sprinkler systems and 36-foot clear heights. Located at the corner of NW 35th Street and NW 27th Avenue, the facility is located a half-mile from Interstate 75 and 25 miles north of the Florida Turnpike Junction. The development of Ocala Logistics Center will increase MDH’s Florida footprint to over 1.5 million square feet.
WEBSTER, TEXAS — Partners Capital, the investment management platform and development arm of Partners Real Estate Co., has sold Clear Lake Business Park, a 149,305-square-foot industrial flex property located in the southern Houston suburb of Webster. Cary Latham and Josh Lass-Sughrue of NAI Partners represented Partners Capital, which originally acquired the asset in February 2019, in the transaction. The buyer and sales price were not disclosed.
EAST WINDSOR, CONN. — BlueTriton Brands, a locally based beverage company formerly known as Nestlé Waters North America, has signed a 279,256-square-foot, full-building industrial lease in East Windsor. Built in 1979, the property features clear heights of 18 to 20 feet, more than 300 parking spaces and 5,000 square feet of office space. Chris Metcalfe and Jack Reed of CBRE represented the landlord, a joint venture between an affiliate of New York City-based Wharton Equity Partners and Boston-based Long Wharf Capital, in the lease negotiations. The building is currently undergoing a renovation, and the tenant plans to take occupancy in late February or early March.
NEW YORK CITY — Locally based brokerage firm TerraCRG has arranged the $30 million sale of an industrial site located at 360 Kingsland Ave. in Brooklyn’s Greenpoint area. According to LoopNet Inc., the site spans 98,250 square feet and houses a 17,000-square-foot manufacturing and office facility. The site is zoned for up to 196,000 buildable square feet of commercial space. Dan Marks and Daniel Lebor of TerraCRG represented the seller, a limited liability company, in the transaction. The buyer was private equity firm Sitex Group.
CHICAGO AND MILWAUKEE — Westmount Realty Capital is partnering with a fund managed by the real estate group of Ares Management Corp. to recapitalize a 51-asset industrial portfolio totaling 6.1 million square feet in the Chicago and Milwaukee metro areas. Westmount and Ares acquired the portfolio of logistics, bulk distribution and last-mile properties from a Partners Group-Westmount joint venture. The portfolio is nearly 99 percent leased to a roster of 123 tenants. Michael Caprile of CBRE and Josh McArtor of Eastdil Secured represented the seller.
OAK PARK, MICH. — The Opus Group has broken ground on a 275,401-square-foot industrial building in Oak Park, a northern suburb of Detroit. The speculative project has been preleased to an undisclosed user. Located at 15100 Eight Mile Road, the building will feature a clear height of 32 feet, 44 dock doors, 57 trailer parking stalls and 196 auto parking stalls. Completion is slated for December 2022. Opus is the developer, design-builder, architect and structural engineer. David MacDonald and Sean Cavanaugh of JLL represented Opus. Paul Hoge and Gary Stephens of Signature Associates represented the seller of the land.
BEDFORD, OHIO — JB Hudco has leased a former Walmart store spanning 197,518 square feet in Bedford, an eastern suburb of Cleveland. The property is located at 22209 Rockside Road. The current owner converted the building into industrial space. Jeffrey Calig and David Hexter of NAI Pleasant Valley represented Texas-based JB Hudco, which provides logistical and order management services to businesses throughout the U.S.
PALESTINE, TEXAS — Marcus & Millichap has brokered the sale of Security Storage of Palestine, a two-property, 839-unit portfolio located about 120 miles southeast of Dallas. The main facility was built in phases between 1980 and 2014 and spans 97,370 net rentable square feet of space across 30 climate-controlled units and 631 non-climate-controlled units, as well as 12 outdoor parking spaces. The second facility comprises 156 non-climate-controlled units totaling 20,000 net rentable square feet. Dave Knobler of Marcus & Millichap represented the seller, an unnamed private investor, in the transaction and procured the buyer, a Dallas-based 1031 exchange investor.
CARROLL, IOWA — Provender Partners, a real estate investor in food-related industrial buildings, has acquired a 469,673-square-foot distribution portfolio that serves as the Midwest supply chain for Core-Mark for roughly $24 million. The portfolio comprises a 435,968-square-foot warehouse and distribution center in the central Iowa city of Carroll as well as six support facilities ranging in size from 2,500 to 4,000 square feet in Iowa, South Dakota and Minnesota. Core-Mark, a wholesale distributor to the convenience retail industry, occupies all of the facilities. Dick Powell of CBRE represented the undisclosed seller. Matt Bear of Bear Real Estate Advisors represented Provender.
FOSTORIA, OHIO — Matthews Real Estate Investment Services has brokered the $14.5 million sale of a 488,000-square-foot industrial property in Fostoria, about 40 miles south of Toledo. Global consumer brand Arm & Hammer occupies the building, which is located at 110 E. Jones Road. Alexander Harrold of Matthews represented the institutional seller. The transaction closed above the final list price.