Industrial

SRS Arranges $16.2M Sale-Leaseback of Flex Industrial Facility in Conyers, Georgia

by Julia Sanders October 8, 2021

CONYERS, GA. — SRS Real Estate Partners’ Investment Properties Group has arranged the sale-leaseback of a Class A, 107,976-square-foot flex industrial facility in Conyers, about 24.4 miles from downtown Atlanta. The facility is fully leased to Batchelor & Kimball, a subsidiary of Emcor that manufactures plumbing and mechanical system fabrications. The tenant, via an entity doing business as New River Ventures LLC, sold the property for $16.2 million to Patriot Equity Partners LLC. Kyle Stonis and Pierce Mayson of SRS represented the buyer in the transaction. Bobby Mayson of Lavista Associates represented the seller. Located at 2227 Plunkett Road on 19.8 acres, the property was constructed as a build-to-suit for Batchelor & Kimball in 2017. The property features a 27.6 percent office finish, as well as other amenities including side-load truck access, 130-foot concrete truck courts, outside storage, gate entrance, pre-cast construction and 32-foot clear heights.

October 8, 2021

Development Industrial Midwest Missouri

Opus Breaks Ground on 847,475 SF Industrial Build-to-Suit for Hallmark in Liberty, Missouri

by Kristin Harlow October 8, 2021

LIBERTY, MO. — The Opus Group has broken ground on Liberty Heartland Logistics Center in Liberty, a suburb just northwest of Kansas City. The first building is an 847,475-square-foot build-to-suit for Hallmark Cards Inc. The project will feature a clear height of 40 feet, 48 dock doors, two drive-in doors, 150 trailer parking spots and 450 vehicle parking spots. This will be Hallmark’s second distribution center in Liberty and will be situated less than one mile from its current facility. Completion is slated for February 2023, at which time Hallmark anticipates more than 1,200 full-time employees working between its two centers. Opus also plans to build two additional speculative buildings at Liberty Heartland Logistics Center that will span 572,000 and 239,000 square feet. Opus is the developer, design-builder, interior designer, architect and engineer. Mark Long, John Hassler and Scott Bluhm of Newmark Zimmer are marketing Buildings B and C for sale or lease. The Missouri Department of Economic Development collaborated with project partners.

October 8, 2021

Development Industrial Kansas Midwest

Contegra Construction Completes Two Distribution Centers Totaling 919,080 SF in Kansas City

by Kristin Harlow October 8, 2021

KANSAS CITY, KAN. — Contegra Construction Co. has completed two additional industrial buildings at NorthPoint Development’s Turner Logistics Center in Kansas City. The two distribution centers total 919,080 square feet. Building II spans 543,544 square feet and features 54 dock doors, four drive-in ramps, 284 car parking stalls and 137 trailer stalls. Building III totals 375,536 square feet and offers 37 dock doors, two drive-in ramps and 371 parking spaces. Both buildings feature clear heights of 36 feet. The 250-acre industrial park is now home to three buildings, the first of which totals 408,000 square feet.

October 8, 2021

Development Industrial Midwest Ohio

Stotan Industrial Unveils Plans to Develop 640,640 SF Spec Facility in Suburban Columbus

by Kristin Harlow October 8, 2021

GROVEPORT, OHIO — Chicago-based Stotan Industrial and its joint venture partners LaSalle Investment Management and CA Industrial have acquired a 47-acre site in Groveport with plans to build a 640,640-square-foot speculative facility. The partnership acquired the land on Hayes Road from Sunshine and Smooch LLC. Development plans call for 60 dock doors, 154 trailer spots, 310 car parking spots and a clear height of 36 feet. CBRE’s Rick Trott represented Stotan in the land purchase and has been retained as the project’s leasing agent. Stotan, a private investment firm specializing in the acquisition and development of industrial properties, was launched earlier this year.

October 8, 2021

Acquisitions Industrial New York Northeast Self-Storage

Talonvest Capital Arranges $118.2M Loan for Refinancing of New York City Self-Storage Portfolio

by Taylor Williams October 8, 2021

IRVINE, CALIF. — Talonvest Capital Inc., a California-based boutique financial advisory firm, has arranged a $118.2 million bridge loan for the refinancing of a portfolio of four self-storage facilities located in and around New York City. The properties, which total 320,819 net rentable square feet across 5,148 units, are located in Brooklyn, Long Island City (Queens), Yonkers and White Plains. The portfolio also included 12,380 square feet of commercial space. An undisclosed global investment management firm provided the nonrecourse, floating-rate loan to the borrower, self-storage owner-operator Clutter Inc. Jim Davies, Kim Bishop, Eric Snyder, David DiRienzo and Tom Sherlock of Talonvest handled the debt placement.

October 8, 2021

Acquisitions Industrial New York Northeast Self-Storage

Marcus & Millichap Brokers Sale of 726-Unit Self-Storage Facility on Long Island

by Taylor Williams October 8, 2021

MIDDLE ISLAND, N.Y. — Marcus & Millichap has brokered the sale of Middle Island Self Storage, a 726-unit facility managed by Public Storage on Long Island. Built on five-plus acres in 2019, the 74,601-square-foot property sold for $25 million, or $34,435 per unit. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction. The facility was 91 percent occupied at the time of sale.

October 8, 2021

Acquisitions Florida Industrial Southeast

Marcus & Millichap Arranges $62.7M Sale of Industrial Portfolio in Florida

by Julia Sanders October 7, 2021

FORT LAUDERDALE, FLA. — Marcus & Millichap has arranged the $62.7 million sale of a seven-property industrial portfolio across five Florida cities. Tyler Kuhlman and Douglas Mandel of Marcus & Millichap’s Fort Lauderdale office represented the buyer, Redfearn Capital, a private real estate investment firm based in Delray Beach, Fla. The Federated Cos., led by Jonathan Cox, was the seller. The fully occupied, net-leased portfolio includes the following properties: 4000 Shader Road in Orlando; 5515 W 5th St. in Jacksonville; 2101 W 33rd St. in Jacksonville; 2906 Corporate Way in Palmetto; 940 Williston Park Point in Lake Mary; 12900 44th St. N. in Pinellas Park; and 5120 Great Oak Dr. in Lakeland.

October 7, 2021

Acquisitions Industrial Texas

CBRE Investment Management Buys 952,000 SF Industrial Property Near Fort Worth

by Taylor Williams October 7, 2021

HALTOM CITY, TEXAS — A fund sponsored by CBRE Investment Management, the entity formerly known as CBRE Global Investors, has acquired 820 Exchange, a roughly 952,000-square-foot industrial property in the Fort Worth suburb of Haltom City. Phoenix-based Creation developed the four-building property and completed it earlier this year. Two of the development’s four buildings that feature 30- to 36-foot clear heights and cross-dock/rear-load configurations were fully leased at the time of sale. All told, 820 Exchange is currently 72 percent leased to three tenants. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and Matthew Barge of JLL represented the seller in the transaction.

October 7, 2021

Acquisitions Industrial Texas

Westcore Acquires 210,887 SF Industrial Property in Metro Houston

by Taylor Williams October 7, 2021

BAYTOWN, TEXAS — San Diego-based investment firm Westcore has acquired a 210,887-square-foot industrial property in the eastern Houston suburb of Baytown. The newly built property, which is located within the Cedar Port Industrial Park master-planned development near Port Houston, features 32-foot clear heights, 200-foot truck court depths and an ESFR sprinkler system. Jason Tangen and Barrett Gibson of Colliers International represented the seller, metro Houston-based NIT Industrial, in the transaction. Westcore was self-represented.

October 7, 2021

Acquisitions Industrial New York Northeast Office

Phoenix Investors Acquires 4 MSF Former IBM Campus in Endicott, New York

by Taylor Williams October 7, 2021

ENDICOTT, N.Y. — An affiliate of Wisconsin-based Phoenix Investors has acquired the 4 million-square-foot former IBM headquarters campus in Endicott, located near the New York-Pennsylvania border. The site, which consists of 29 buildings on 130 acres and is currently known as the Huron Campus, houses industrial, office and R&D users. The campus was first converted to a multi-tenant development in the early 2000s and today serves as the workplace of more than 2,800 people, though IBM still maintains a presence on the property. The seller was not disclosed.

October 7, 2021

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