Industrial

KKR Purchases 197,000 SF Industrial Property in Vista, California from Westcore

by Amy Works December 1, 2021

VISTA, CALIF. — KKR has acquired Vista Commerce, an industrial warehouse facility in Vista, from Westcore for an undisclosed price. Situated on an all-concrete site, the 197,000-square-foot Vista Commerce features 14 dock-high doors, six grade-level doors, 27-foot clear heights and ample power. The property is fully leased to an undisclosed, publicly listed healthcare diagnostic testing company. CBRE represented Westcore in the deal. KKR acquired Vista Commerce through its KKR Real Estate Partners Americas II fund.

December 1, 2021

Acquisitions Indiana Industrial Midwest

Phoenix Investors Purchases 1.7 MSF Manufacturing Plant in Connersville, Indiana

by Kristin Harlow December 1, 2021

CONNVERSVILLE, IND. — An affiliate of Phoenix Investors has purchased a 1.7 million-square-foot manufacturing plant in Connersville, about 65 miles east of Indianapolis. The purchase price and seller were not disclosed. The facility sits on 186 acres at 4747 N. Western Ave. Philco Corp. built the first phase of the property in 1953. In 1961, Ford Motor Co. acquired Philco — a pioneer in battery, radio and television production — and renamed the division Philco-Ford in 1966. Ford expanded the Connersville plant in various phases throughout the 1960s. Ford operated the plant from 1961 until it spun the division off as Visteon Corp. in 2000. Visteon closed the plant in 2007. Since 2013, CliqStudios Cabinets has occupied one-third of the plant, which features a clear height of 30 feet, 50 docks and drive-in doors, two rail sidings. Phoenix plans to make upgrades to the facility.

December 1, 2021

Development Industrial South Carolina Southeast

Capital Development Partners to Build $250M Industrial Park Near Port of Charleston

by Julia Sanders November 30, 2021

NORTH CHARLESTON, S.C. — Capital Development Partners, a Savannah, Ga.-based industrial real estate and infrastructure development firm, has purchased 135 acres in North Charleston near the Port of Charleston’s newly opened Hugh K. Leatherman Terminal. The sales price for the land was $65 million. The Savannah, Ga.-based firm plans to develop Shipyard Creek Logistics Center, an industrial park exceeding $250 million in value. Construction on the site infrastructure and the initial cross-dock terminal will start immediately, with delivery expected in 2022. Shipyard Creek Logistics Center will include container storage, warehousing and logistics support facilities. The project is expected to create 200 direct jobs and thousands of indirect jobs. The deep-water Leatherman Terminal offers highly efficient operations for import and export customers. The terminal can handle 700,000 twenty-foot equivalent units in Phase I with expansion capability to 2.4 million TEUs of capacity in Phase II, according to Capital Development Partners. The location of Shipyard Creek Logistics Center offers proximity to infrastructural access points designed to move containers to and from the Port of Charleston via the Leatherman Terminal, the South Carolina Ports Authority’s future dual rail-served intermodal cargo facility and Interstate 26.

November 30, 2021

Acquisitions Industrial Texas

Dalfen Industrial Acquires 169,700 SF Century Center in Irving

by Taylor Williams November 30, 2021

IRVING, TEXAS — Locally based investment and development firm Dalfen Industrial has acquired Century Center, a 169,700-square-foot property located near Dallas-Fort Worth (DFW) International Airport in Irving. Built in 2014, the property was fully leased to three tenants at the time of sale. The seller and sales price were not disclosed. Following this transaction, Dalfen owns more than 3 million square feet of industrial space in DFW and has more than 2 million square feet of product in its development pipeline.

November 30, 2021

Industrial Loans Self-Storage Texas

Terrydale Capital Arranges $24.2M Acquisition Loan for South Texas Self-Storage Portfolio

by Taylor Williams November 30, 2021

DALLAS — Dallas-based Terrydale Capital has arranged a $24.2 million acquisition loan for a portfolio of self-storage properties located in South Texas. The portfolio consists of eight existing facilities, four vacant sites and one site that is under construction. Cody Baker of Terrydale Capital arranged the five-year loan, which carried a fixed interest rate of 3.25 percent, two years of interest-only payments and a 25-year amortization schedule. An undisclosed correspondent bank provided the loan. The borrower was also not disclosed.

November 30, 2021

Acquisitions Indiana Industrial Midwest

MAG Capital Partners Acquires Indiana Industrial Facility in Sale-Leaseback Transaction

by Kristin Harlow November 30, 2021

CAMPELLSBURG, IND. — MAG Capital Partners LLC has acquired the global headquarters building of Metal Powder Products (MPP) in Indiana. The purchase price of the sale-leaseback transaction was not disclosed. The nearly 16-acre property is located at 596 W. Oak St. in Campbellsburg, about 47 miles northwest of Louisville. MAG Capital Partners also purchased four of MPP’s industrial properties in Pennsylvania for a total portfolio consideration of 500,000 square feet. Newmark’s JC Asensio, Andrew Sandquist and Briggs Goldberg represented MPP in the sale. MAG Capital Partners, a private investment firm led by Dax Mitchell and Andrew Gi, is based in Fort Worth, Texas.

November 30, 2021

Acquisitions Industrial Midwest Ohio

Marcus & Millichap Arranges $17M Sale of Industrial Building in Carey, Ohio

by Kristin Harlow November 30, 2021

CAREY, OHIO — Marcus & Millichap has arranged the $17 million sale of a 237,155-square-foot industrial building in Carey, about 60 miles south of Toledo. Hanon Systems, a South Korean-based manufacturer of automotive HVAC and cooling systems, fully occupies the facility, which is located at 581 Arrowhead Drive. Joshua Baker, Erin Patton, Craig Fuller and Scott Wiles of Marcus & Millichap’s Patton Wiles Fuller Group represented the seller. The buyer and seller were not provided.

November 30, 2021

Connecticut Development Industrial Leasing Activity Northeast Office

JLL Negotiates 80,000 SF Industrial, Office Lease in Shelton, Connecticut

by Taylor Williams November 30, 2021

SHELTON, CONN. — JLL has negotiated an 80,000-square-foot build-to-suit commercial lease in Shelton, located in the southern coastal part of Connecticut. The tenant, Ranpak Corp., a provider of paper-based packaging products, has committed to 33,000 square feet of office space and 47,000 square feet of research and development and warehouse space. Evan Behr, Ian Ceppos and Patrick Lennon of JLL represented the tenant in the lease negotiations. JLL also represented Ranpak in its site selection and is overseeing development of the space, which was designed by Locus Design Collaborative. Construction of the space, which will also house a showroom and innovation center, is expected to be complete by the fourth quarter of next year.

November 30, 2021

Development Industrial New York Northeast Office

Micatu to Open 40,000 SF Manufacturing Facility in Horseheads, New York

by Taylor Williams November 30, 2021

HORSEHEADS, N.Y. — Micatu Inc., a provider of optical sensing technology, will open a 40,000-square-foot manufacturing facility in the Upstate New York community of Horseheads. The company also recently completed an expansion of its office and training facilities. Upon completion of the project, which is scheduled for the first quarter of next year, Micatu’s total footprint will span 50,000 square feet. The company also expects to hire about 25 new employees.

November 30, 2021

Acquisitions Industrial Maryland Southeast

Terreno Realty Purchases Industrial Property in Hyattsville, Maryland for $8M

by Julia Sanders November 29, 2021

HYATTSVILLE, MD. — Terreno Realty Corp. has purchased an industrial property in Hyattsville for approximately $8 million. The seller was not disclosed. The industrial property is located on a 2.9-acre land parcel at 5380 Tuxedo Road. The property is situated less than one mile outside of Washington, D.C., and is adjacent to the intersection of U.S. Route 50 and the Baltimore-Washington Parkway. The property is fully leased to two undisclosed tenants. Terreno Realty Corp. is a Bellevue, Wash.-based commercial real estate company that acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C.

November 29, 2021

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