HOUSTON — California-based investment firm BKM Capital Partners has acquired West Belt Business Park, a 260,887-square-foot industrial property in southwest Houston. West Belt Business Park consists of five buildings that house 30 tenant spaces ranging in size from 770 to 23,000 square feet. Charlie Strauss, Lance Young and Clay Anderson of JLL represented the undisclosed seller in the transaction. BKM, which plans to implement a value-add program, was self-represented. The property was fully leased at the time of sale to a tenant roster with a weighted average remaining lease term of just under three years.
WALLKILL, N.Y. — Crow Holdings Development is underway on construction of an 834,800-square-foot industrial project in Wallkill, about 70 miles north of New York City. Golden Triangle Logistics Center will be a 92-acre development with two buildings that will total 535,600 and 299,200 square feet. The first building, which is slated for a summer delivery, will feature a clear height of 36 feet, 88 dock doors and parking for 83 trailers and 422 cars. JLL originally brokered the land sale behind Golden Triangle Logistics Center and has also been retained as the leasing agent.
PASSAIC, N.J. — Valley Bank has provided an $18.6 million loan for the refinancing of a 124,000-square-foot industrial building in the Northern New Jersey community of Passaic. The building at 101 Seventh St. is currently operated as a recycling facility and offers proximity to several major nearby thoroughfares. Jason Gaccione, Shawn Rosenthal and Jake Salkovitz of CBRE arranged the loan on behalf of the owner, an entity doing business as 101 Seventh Street Urban Renewal LLC.
RENO, NEV. — Nuveen Real Estate has purchased an infill industrial portfolio totaling 497,875 square feet in Reno for an undisclosed price. Situated next to the Reno-Tahoe International Airport, the five-building portfolio is currently fully leased. Spanning 27 acres, the portfolio is located at 4681 and 4689 Aircenter Circle and 4745, 4855 and 4980 Longley Lane. The buildings range from 19,000 square feet to 153,000 square feet and offer 24-foot to 25-foot clear heights, 68 dock-high doors, 11 grade-level doors and ample power. Jeff Chiate, Rick Ellison, Matt Leupold and Aubrie Monahan of Cushman & Wakefield’s National IAG — West team, in collaboration with Will Strong, Michael Matchett, Jack Stamets, Molly Hunt and Madeline Warren of the firm’s National IAG — Mountain West team, represented the undisclosed seller.
SAN YSIDRO, CALIF. — Border Business Center LLC has completed the sale of a four-building industrial park at 464, 494 and 524 W. Calle Primera and 2325 Via Tercero in San Ysidro. Partners Capital Inc. acquired the asset for $15 million. Known as Border Commerce Center, the 69,530-square-foot park offers 51 suites, averaging 1,200 square feet in size. At the time of sale, the property was fully leased. Matt Harris and Matt Pourcho of CBRE represented the seller in the transaction.
SALEM, ORE. — Colorado-based Spartan Investment Group has expanded its footprint in the Pacific Northwest with the acquisition of two self-storage facilities in Salem. Terms of the transactions were not released. Spartan now owns nine self-storage facilities in the Pacific Northwest. Totaling 164,752 net rentable square feet and 1,150 units, the portfolio includes a 633-unit facility with 93,252 net rentable square feet at 350 Glen Creek Road NW and a 615-unit property with 71,500 net rentable square feet at 3715 Blossom Drive NE. Spartan plans to invest in upgrades and expand amenities at both locations.
QUAKERTOWN, PA. — CBRE has negotiated the $5.7 million sale of two industrial buildings totaling 165,175 square feet in Quakertown, about 50 miles north of Philadelphia. The interconnected buildings sit on an 8.1-acre site in the downtown area and were originally constructed in the late 1800s by the Quakertown Electric Light Co. Steve Marzullo, Adam Silverman and Dale Lewis of CBRE represented the seller, a division of Mativ Holdings, in the deal and procured the buyer, Pennsylvania-based Coleman Investment Properties.
VERNON HILLS, ILL. — PREMIER Design + Build Group has completed the new headquarters for Heathrow Scientific, a producer of laboratory supplies and instruments. The 113,000-square-foot facility in the Chicago suburb of Vernon Hills will serve as the central hub for the company’s manufacturing, laboratory and office operations. Following the demolition of an existing structure, PREMIER constructed the two-story building that features a large laboratory space dedicated to product design and quality control as well as an outdoor dining area. The project also includes 12 dock positions and two drive-in doors.
BUFFALO GROVE, ILL. — Lee & Associates of Illinois has negotiated the $4.2 million sale of a 51,088-square-foot industrial building in the Chicago suburb of Buffalo Grove. The property is located at 901 Deerfield Parkway. Tom Boyle of Lee & Associates represented the buyer, Paragon Micro Inc. Rick Hiton of Hiton & Associates represented the seller, Awaken CTTE LLC.
HOUSTON — Locally based developer Triten Real Estate Partners will build a 392,650-square-foot industrial project in North Houston. The site at the intersection of FM 1960 and Kenswick Drive spans 25 acres, and the development will consist of two front-load buildings. The buildings will total 214,558 and 178,002 square feet and will feature 36-foot clear heights and combined parking for 286 cars and 82 trailers. Method Architecture is designing the project, and Harvey Cleary is the general contractor. Construction is scheduled to begin in the first quarter and to be complete before the end of the year.