Industrial

Cushman & Wakefield Brokers Sale of 400,000 SF Industrial Facility in Middlesex, New Jersey

by Taylor Williams November 3, 2021

MIDDLESEX, N.J. — Cushman & Wakefield has brokered the sale of a 400,000-square-foot industrial facility in Middlesex, about 40 miles southwest of New York City. Built on 30.3 acres in 2021, the property offers a clear height of 36 feet, 38 loading positions, 334 car and 281 van parks and 130-foot truck court depths. Gary Gabriel, Kyle Schmidt, David Bernhaut, Ryan Larkin, Jules Nissim and Kimberly Bach of Cushman & Wakefield represented the seller, Rockefeller Group, in the transaction. A fund sponsored by CBRE Investment Management acquired the asset for an undisclosed price.

November 3, 2021

Acquisitions Industrial Nevada Western

Applied Medical Resources Acquires 33,787 SF Industrial Warehouse in North Las Vegas

by Amy Works November 3, 2021

NORTH LAS VEGAS, NEV. — Applied Medical Resources Corp. has purchased an industrial facility located at 3955 N. Pecos Road in North Las Vegas. Aria Investments sold the asset for $5.3 million. Dean Willmore, Alex Stanisic, Mike Willmore and Lauren Willmore of CBRE represented the seller in the deal. Built in 2006, the 33,787-square-foot warehouse features 24-foot clear heights, seven private offices, two dock-high loading doors, three grade-level loading doors, a paved, fenced yard and a 50-stall parking lot.

November 3, 2021

Development Georgia Industrial Office Southeast

Joint Venture to Redevelop 35,500 SF Warehouse in Metro Atlanta into Office Space

by Julia Sanders November 2, 2021

CHAMBLEE, GA. — A joint venture between Seven Oaks Co. LLC and Packard Capital LLC have plans to redevelop 2135 American Industrial Way, a 35,500-square-foot warehouse in downtown Chamblee. Slated for completion by June 2022, the two-acre site and single-story building will be redeveloped into creative office space. The 2135 American Industrial Way building, which served as a warehouse for an event rental company and an antique showroom that provided movie props, will include a 1,200-square-foot covered front patio, an outdoor beer garden-style seating area and a dedicated food truck parking place. The interior will feature a furnished lobby with roll-up garage doors connected to the front patio, façade windows, the ability to add exterior access points and the option to modify windows to allow for open and close functionality. Winter Construction Co. will serve as the general contractor, and Aileen Almassy and Andy Sumlin of Cushman & Wakefield will oversee leasing efforts. S/L/A/M Collaborative is the designer for the building. Kimley-Horn is completing the civil and engineering design work, and Atlantic Capital Bank is providing construction debt financing.

November 2, 2021

Development Industrial Texas

Rosewood, Champion Begin Work on 610,000 SF Spec Industrial Project in Metro Dallas

by Taylor Williams November 2, 2021

WILMER, TEXAS — A partnership between two locally based developers, Rosewood Property Co. and Champion Partners, has begun construction on Tradepoint 45 East, a 610,000-square-foot speculative industrial project located in the southern Dallas suburb of Wilmer. Tradepoint 45 East will feature 40-foot clear heights, 112 dock doors and 215 trailer stalls. Pross Design Group is the project architect, and Kimley-Horn is the civil engineer. The Conlan Co. is the general contractor, and Veritex Community Bank provided construction financing. Stream Realty Partners is marketing the building for lease. Construction is slated for a third-quarter 2022 completion.

November 2, 2021

Industrial Loans Retail Self-Storage Texas

Cronheim Mortgage Arranges $7.8M Refinancing for Self-Storage, Retail Asset Near Fort Worth

by Taylor Williams November 2, 2021

CHATHAM, N.J. — New Jersey-based Cronheim Mortgage has arranged a $7.8 million loan for the refinancing of a self-storage and retail asset located in the Fort Worth area. The property, formerly a grocery-anchored retail center, consists of a CubeSmart-branded self-storage facility with roughly 1,000 units and a 10,000-square-foot retail space occupied by Goodwill. David Turley, Janet Proscia and David Poncia of Cronheim arranged the nonrecourse, fixed-rate loan on behalf of the borrower, an affiliate of California-based DealPoint Merrill. An undisclosed national bank provided the loan. The address of the property was not disclosed.

November 2, 2021

Development Illinois Industrial Midwest

Contegra Completes 624,000 SF Distribution Center in Metro St. Louis, Begins Construction of 1 MSF Facility

by Kristin Harlow November 2, 2021

PONTOON BEACH, ILL. — Contegra Construction Co. has completed the third distribution center at NorthPoint Development’s Gateway Tradeport in Pontoon Beach, about 13 miles northwest of St. Louis. Contegra is now building a 1 million-square-foot facility at the development that will be the largest speculative distribution center in the St. Louis area, according to the general contractor. With the completion of the 624,000-square-foot Gateway Tradeport III, the 600-acre Gateway Tradeport is now home to more than 1.7 million square feet of distribution space, all of which was built by Contegra. Building III features a clear height of 40 feet, 64 dock doors and parking for 181 trailers. Building IV is slated for completion in 2022.

November 2, 2021

Acquisitions Indiana Industrial Midwest

Colliers Brokers Sale of Two Industrial Buildings Totaling 650,987 SF in Suburban Indianapolis

by Kristin Harlow November 2, 2021

MT. COMFORT, IND. — Colliers International has brokered the sale of Buildings 1 and 2 at Mount Comfort Commercial Park for an undisclosed price. The properties, totaling 650,987 square feet, are located on Enterprise Drive in Mt. Comfort, about 15 miles northeast of Indianapolis. Building 1 spans 260,406 square feet and features a clear height of 32 feet and 26 docks. Building 2 is a 390,581-square-foot facility with a clear height of 36 feet and 38 docks. Both buildings offer 135-foot trailer courts and were completed on a speculative basis. Alex Cantu, Jimmy Cohoat, Jason Speckman, Andrea Hopper and Alex Davenport of Colliers represented the sellers, Becknell Industrial and Cross Harbor Capital. An affiliate of EQT Exeter was the buyer.

November 2, 2021

Acquisitions Illinois Industrial Midwest

Marcus & Millichap Negotiates $10.2M Sale of Industrial Facility in Lombard, Illinois

by Kristin Harlow November 2, 2021

LOMBARD, ILL. — Marcus & Millichap has negotiated the $10.2 million sale of Oak Creek Center in Lombard, a western suburb of Chicago. The 79,462-square-foot industrial facility is located on Oak Creek Drive. Tenants include Home Depot and Kia Motors. Peter Doughty of Marcus & Millichap represented the seller, a private investor. He also secured and represented the buyer, a private investor. Frank Montalto and Dean Giannakopoulos of Marcus & Millichap Capital Corp. arranged acquisition financing on behalf of the buyer.

November 2, 2021

Acquisitions California Industrial Western

CapRock Partners Divests of 210,156 SF Distribution Facility in San Diego’s Otay Mesa

by Amy Works November 2, 2021

SAN DIEGO — CapRock Partners has completed the disposition of a newly renovated distribution center located at 1855 Dornoch Court in San Diego’s Otay Mesa submarket. An investment firm acquired the property for an undisclosed price. CapRock completed several million dollars in capital improvements to the 210,156-square-foot building, which was originally built in the late 1980s. Situated on 10.6 acres, the facility features functional divisibility with a variety of bay sizes, 26- to 28-foot clear heights, grade- and dock-high loading doors, ESFR sprinkler systems and concrete truck courts. Bryce Aberg, Jeff Chiate, Jeffrey Cole, Ed Hernandez, Mike Adey and Zach Harman of Cushman & Wakefield represented the seller in the deal. Brant Aberg of Cushman & Wakefield along with Joe Anderson and Andy Irwin of JLL provided market leasing advisory.

November 2, 2021

Acquisitions Industrial Washington Western

Marcus & Millichap Negotiates $14.2M Sale of Oakridge Business Park One in Redmond, Washington

by Amy Works November 2, 2021

REDMOND, WASH. — The Leibsohn Group of Marcus & Millichap has arranged the sale of Oakridge Business Park One, an industrial property in Redmond. A local investor acquired the property from an undisclosed seller for $14.2 million. Located at 17965 NE 65th St., Oakridge Business Park One features 41,900 square feet of industrial space. At the time of sale, the property was fully leased to a single tenant on a long-term lease. The buyer plans to eventually redevelop the asset. Brian Leibsohn and Raymond Vara of The Leibsohn Group in Marcus & Millichap’s Seattle office represented the seller and procured the buyer in the deal.

November 2, 2021

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