Industrial

Colliers Brokers Sale of 400,000 SF Distribution Center in Rochelle, Illinois

by Kristin Harlow January 18, 2022

ROCHELLE, ILL. — Colliers has brokered the sale of a 400,000-square-foot distribution center located at 101 N. Centerpoint Drive in Rochelle, about 25 miles south of Rockford. The sales price was undisclosed. Situated on 21 acres, the building features a clear height of 30 feet, 40 truck docks and 79 trailer spots. The facility is fully leased to global toy manufacturer TOMY, which has been the sole occupant since the building’s completion in 2004. Jeff Devine and Steve Disse of Colliers brokered the transaction. Hillwood Development purchased the asset from a fund advised by the U.S. real estate business of UBS Asset Management.

January 18, 2022

Acquisitions California Industrial Western

ZKS Sells Multi-Tenant Industrial Facility in Torrance, California to Rexford Industrial for $75.3M

by Amy Works January 18, 2022

TORRANCE, CALIF. — ZKS Real Estate Partners has completed the disposition of an industrial property located at 4240 W. 190th St. in Torrance. Rexford Industrial Realty acquired the asset for $75.3 million. David Prior, Todd Taugner and Frank Schulz of The Klahin Co./CORFAC International represented the seller in the deal. Bret Hardy, Andrew Briner, Kevin Shannon, Jim Linn and Scott Schumacher of Newmark served as the institutional investment contacts in the transaction. Situated on 11.4 acres, the 307,487-square-foot building features dock-high and grade-level loading, a large yard area, future rail-service potential and immediate access to interstates 405 and 110.

January 18, 2022

Acquisitions California Industrial Western

Staley Point Capital Buys Industrial Property in City of Industry, California for $22M

by Amy Works January 18, 2022

CITY OF INDUSTRY, CALIF. — Staley Point Capital has acquired an industrial asset, located at 18689 Arenth Ave. in City of Industry, for $22 million, or $227 per square foot, in an off-market transaction. Bain Capital Real Estate was a joint venture partner on the acquisition. The 97,000-square-foot property features 24-foot clear heights, eight dock-high positions and a functional concrete truck court. At the time of purchase, the property was 86 percent leased. Winston & Strawn served as legal counsel to Staley Point Capital for the transaction. JLL represented both the buyer and undisclosed seller in the deal, while JLL Capital Markets arranged loan financing for the acquisition.

January 18, 2022

Acquisitions Industrial Texas

Pegasus Real Estate Acquires 271,100 SF Industrial Portfolio in Irving

by Taylor Williams January 18, 2022

IRVING, TEXAS — Pegasus Real Estate has acquired a two-property industrial portfolio totaling 271,100 square feet in Irving. The portfolio comprises a fully leased, 92,051-square-foot building and a 12-building complex that was 93 percent leased at the time of sale. The properties were built in phases between 1981 and 1999 and feature 12- to 18-foot clear heights. Stephen Bailey, Dustin Volz, Wesley Gilmer and Pauli Kerr of JLL represented the seller, Fort Worth-based Fort Capital, in the transaction. Dustin Dulin and Wyatt Simmons, also with JLL, arranged floating-rate acquisition financing on behalf of Pegasus Real Estate.

January 18, 2022

Acquisitions Industrial NAI Office Texas

NAI Partners Arranges 34,000 SF Office, Industrial Sale-Leaseback in Houston

by Taylor Williams January 18, 2022

HOUSTON — NAI Partners has arranged the sale-leaseback of a 34,000-square-foot office and industrial property in Houston. The property is located at 1515 Witte Road on the city’s west side. Cary Latham and Wyatt Huff of NAI Partners represented the seller/tenant, Allpoints Group, a provider of surveying and other advisory services for the homebuilding industry, in the transaction. The duo also secured the buyer, locally based investment firm Triten Real Estate Partners.

January 18, 2022

Industrial Loans Massachusetts Northeast Office

EagleBridge Capital Arranges $14.6M in Financing for Metro Boston Flex Building

by Taylor Williams January 18, 2022

ANDOVER, MASS. — Boston-based mortgage banking firm EagleBridge Capital has arranged $14.6 million in debt and joint venture equity financing for 6 Riverside Drive, a 77,000-square-foot flex building in the northern Boston suburb of Andover. The property sits on 8.6 acres and houses both office and research and development space. Ted Sidel of EagleBridge Capital arranged the financing on behalf of the undisclosed borrower. The breakdown of debt and equity components was also not disclosed.

January 18, 2022

Contour-Apache-Southern-Ave-Rds-Buckeye-AZ

Arizona Development Industrial Western

Contour Real Estate Buys 77-Acre Industrial Development Site in Buckeye, Arizona

by Amy Works January 17, 2022

BUCKEYE, ARIZ. — An entity controlled by Contour Real Estate has acquired an approximately 77-acre industrial site at the southeast corner of Apache and Southern Avenue roads in Buckeye. The Napolitano Family sold the property, which is adjacent to the Cardinal Glass and Walmart distribution facilities, for $14.5 million. Contour plans to develop a 1.2 million-square-foot, Class A, cross-dock facility targeting e-commerce and logistics tenants in needs of a regional distribution hub. Ware Malcomb is serving as architect and civil engineer for the project. Paul Borgesen and Dylan Sproul of SVN Desert Commercial Advisors represented the buyer in the deal. Marc Hertzberg of JLL’s Phoenix office will handle leasing for the completed facility.

January 17, 2022

Acquisitions Development Illinois Industrial Midwest

Bridge Industrial Acquires Former Progress Rail Site in McCook, Illinois, Plans 1.2 MSF Development

by Kristin Harlow January 17, 2022

MCCOOK, ILL. — Bridge Industrial has acquired 87 acres in McCook that was previously home to Caterpillar manufacturer Progress Rail. Bridge plans to build two industrial buildings totaling nearly 1.2 million square feet on the site. Progress Rail downsized its footprint and will continue to operate on the remainder of the area not sold to Bridge. Demolition of existing structures is scheduled to begin this month. Completion of the project is slated for mid-2023. The larger building, totaling 999,126 square feet, will feature 201 exterior docks, four drive-in doors, 211 trailer positions, 508 car parking spaces and a clear height of 40 feet. The smaller facility, totaling 189,953 square feet, will feature 43 docks, two drive-in doors, 48 trailer positions, 222 car parking spaces and a clear height of 36 feet.

January 17, 2022

Acquisitions Illinois Industrial Midwest

JLL Income Property Trust Purchases Suburban Chicago Distribution Center for $47M

by Kristin Harlow January 17, 2022

ELGIN, ILL. — JLL Income Property Trust has purchased a two-building distribution center in the northwest Chicago suburb of Elgin for $47 million. Constructed in 2020, the buildings total 407,000 square feet. The larger building features a clear height of 33 feet, while the smaller one features a clear height of 29 feet. Both facilities are fully leased. The seller was undisclosed.

January 17, 2022

Acquisitions Indiana Industrial Midwest

Colliers Brokers Sale of 248,363 SF Industrial Portfolio in Metro Indianapolis

by Kristin Harlow January 17, 2022

INDIANAPOLIS — Colliers has brokered the sale of a seven-building industrial portfolio totaling 248,363 square feet in metro Indianapolis for more than $25 million. Five of the buildings are located in Indianapolis while two are in Noblesville. Alex Cantu and Alex Davenport of Colliers represented the seller, GDW Properties. The portfolio sold to separate buyers, including Exeter Property Group, Biynah Industrial Partners, Trip Portfolio LLC and an unnamed private investor.

January 17, 2022

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