Industrial

Vantage Point I

RIDGEVILLE, S.C. — Magnus Development has acquired a 10-acre site in Ridgeville for the development of Vantage Point I, a 157,500-square-foot Class A industrial building at Camp Hall Campus 1. The sales price and seller for the land deal were not disclosed. Construction for Vantage Point I is slated for completion by the third quarter of 2022. Robert Barrineau, Brendan Redeyoff and Tim Raber of CBRE will lease and market the project on behalf of Magnus. Vantage Point I will be a multi-tenant, rear-load facility that can accommodate tenants from 21,000 to 157,500 square feet. The building’s features will include 30-foot clear heights, an ESFR sprinkler system, 144-space parking lot, two drive-in doors and 16 dock doors that are expandable to 45. The project is located across from Volvo Cars U.S., 2.3 miles northeast of Interstate 26, 37.7 miles from Charleston and 38.5 miles from Port of Charleston.

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BROOKSHIRE, TEXAS — Stream Realty Partners has broken ground on the second phase of Empire West Business Park, located in the western Houston suburb of Brookshire. Phase II of the development will consist of six buildings totaling 2.3 million square feet that are expected to be complete in July 2022. Phase I of Empire West Business Park comprised three buildings totaling 1 million square feet that were delivered in April and are now fully leased. A JLL team led by Colby Mueck and John Ream arranged construction financing for the project through Square Mile Capital Management.

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LEWISVILLE, TEXAS — Lee & Associates has negotiated a 249,093-square-foot industrial lease at 2075 Midway Road in the northern Dallas suburb of Lewisville. According to LoopNet Inc., the property sits on 28 acres and features 32- to 36-foot clear heights and 185-foot truck court depths. Adam Graham, Mark Graybill and Johnny Anderson of Lee & Associates represented the landlord, First Industrial Texas LP, in the lease negotiations. The representative of the tenant, Swiss chemical provider Sika, was not disclosed.

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BRISTOL, WIS. — Haribo of America Inc. has signed a 157,656-square-foot, full-building industrial lease at Bristol Highlands Commerce Center in Bristol near the Wisconsin-Illinois border. Chicago-based HSA Commercial Real Estate is the owner and developer. The first phase of Bristol Highlands, which was completed in 2020 and includes a 472,176-square-foot warehouse, is now fully leased. Haribo, known for its gummy bears, plans to occupy the space in the first quarter of 2022. Haribo’s first North American production plant is currently under construction in Pleasant Prairie, which is two miles from Bristol. Whit Heitman, Sam Badger and Jared Paff of CBRE represented Haribo in the lease transaction. Jeff Hoffman of Cushman & Wakefield | Boerke and Eric Fischer of Cushman & Wakefield represented ownership.

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HILLSIDE, ROCHELLE PARK AND CLIFTON, N.J. — Locally based firm Quinlan Development Group has sold a portfolio of three self-storage facilities totaling 3,606 units to New York City-based RXR Realty for $108.5 million. The properties, which were completed between fall 2019 and summer 2021 and total 422,609 gross square feet, are located in the Northern New Jersey communities of Hillside, Rochelle Park and Clifton. Additional terms of the sale were not disclosed.

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Butterfield-Business-Center-Lot-D-Tucson-AZ

TUCSON, ARIZ. — Tucson Logistics Land LLC has purchased 9.1 acres of land from Butterfield Tucson Limited Partnership and 2.3 acres from Stewart Family Limited Partnership, with both parcels located at Butterfield Business Center Lot D in Tucson. Terms of the transactions were not released. The buyer plans to develop a for-lease, 194,750-square-foot industrial building on the site. Robert Glaser of Cushman & Wakefield | PICOR represented the seller, while Stephen Cohen of Cushman & Wakefield | PICOR represented the buyer in the deal. Cohen will also handle leasing of the completed project.

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NEW YORK CITY — Developer and operator StorQuest Self Storage has opened a new facility at 155 King St. in the Red Hook neighborhood of Brooklyn. The number of units was not disclosed, but the five-story property spans approximately 84,000 net rentable square feet. Construction began in mid-2020. The property is StorQuest’s second in Brooklyn and 10th in the state of New York.

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KAPOLEI, HAWAII — A joint venture between DXD Capital, a self-storage investor and developer, and InSite Property Group has acquired a 2.3-acre land site in Kapolei Business Park on Kalaeloa Boulevard in Kapolei. InSite will develop and operate an 853-unit self-storage facility on the property for the partnership under its SecureSpace brand. Construction of the self-storage facility is slated to begin in August 2022, with completion scheduled for September 2023. The property was acquired through DXD Self Storage Fund I, which DXD launched in November 2020. The $50 million fund will be used to primarily invest in ground-up development of Class A, multi-story, climate-controlled self-storage facilities across the United States.

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ORANGE, CONN. — New Jersey-based Cronheim Mortgage has arranged a $10 million permanent loan for a 137,670-square-foot industrial facility in Orange, located in the southern coastal part of the state. Formerly occupied by Sam’s Club, the property was recently converted to a van and truck parking facility for Amazon. Dev Morris, Allison Villamagna and Andrew Stewart of Cronheim Mortgage arranged the 10-year, interest-only loan on behalf of the undisclosed borrower.

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HOUSTON — Arden Logistics Group, the industrial investment arm of Philadelphia-based Arden Group, has purchased the 861,046-square-foot Hardy Light Industrial Portfolio in Houston. The portfolio consists of 34 multi-tenant warehouses that are located in the metro’s North Hardy Toll Road submarket. Dustin Volz, Stephen Bailey, Trent Agnew and Zach Riebe of JLL brokered the sale. Dustin Stolly, Jordan Roeschlaub and Chris Kramer of Newmark arranged acquisition financing through Rialto Capital Management on behalf of the new ownership. The seller was an undisclosed institutional investor that had owned the portfolio since 2006.

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