Industrial

Global Logistical Connections Signs 100,000 SF Industrial Lease in Channahon, Illinois

by Kristin Harlow April 27, 2021

CHANNAHON, ILL. — Global Logistical Connections LLC has signed a 100,000-square-foot industrial lease at Route 6 Business Center, which is located at 23647 W. Eames St. in Channahon, about 50 miles southwest of Chicago. The company is relocating and expanding from its current 17,000-square-foot space at 60 Rawls Road in Des Plaines. The new lease commences in June. Route 6 Business Center is a 442,000-square-foot building that features a clear height of 36 feet, 75 exterior docks, 88 trailer spots, 60-foot loading bays and two drive-in doors. Ned Frank of Colliers International Chicago represented the tenant in the lease transaction. David Bercu, Charles Canale and Kataline Villalpando of Colliers represented ownership, Clarion Partners.

April 27, 2021

Acquisitions Florida Industrial Southeast

O’Connor Capital Partners Sells Tupperware Headquarters Campus in Central Florida for $43M

by Julia Sanders April 27, 2021

KISSIMMEE, FLA. — New York-based O’Connor Capital Partners has sold the Tupperware Brands corporate headquarters campus in Kissimmee Institutional Property Advisors (IPA), a division of Marcus & Millichap, arranged the $43 million sale of the 43-acre property. The buyer was Spirit Realty. The campus is 100 percent triple-net leased to Tupperware Brands, as it relocated its headquarters to the area in 1951. In 2020, Tupperware Brands executed a new 11-year lease with options enabling them to remain on the campus for up to 25 years. The eight-building campus is located on Orange Blossom Trail, just west of the Florida Turnpike and 10 miles south of Orlando International Airport. Douglas Mandel and Barry Wolfe of IPA represented O’Connor Capital Partners in the sale. The duo also procured the buyer, an unnamed investor based in Dallas. O’Connor is currently developing a mixed-use project on the land surrounding the Tupperware campus that will include residential, medical office and retail space.

April 27, 2021

Acquisitions Florida Industrial Self-Storage Southeast

Ackerman, Trout Daniel Broker Sale of CubeSmart Self Storage Facility in West Melbourne, Florida

by Julia Sanders April 27, 2021

WEST MELBOURNE, FLA. — Ackerman & Co. and Trout Daniel & Associates have arranged the sale of a CubeSmart Self Storage facility located at 1060 Polo Drive in West Melbourne. Missouri-based StorageMart acquired the facility, which features 397 climate-controlled storage units and 288 drive-up units. David Paulson, Stephen Lapierre and Wyatt Whitaker of Ackerman & Co. and Steven Cornblatt and Coleman Tirone of Trout Daniel & Associates represented StorageMart, which plans to rebrand the self-storage property into a StorageMart. The seller and sales price were not disclosed. The new StorageMart spans more than 70,000 rentable square feet. Planned upgrades to the property include improvements to loading accessibility and enhancements to security systems.

April 27, 2021

Data Centers Development Georgia Industrial Southeast

American Tower Expands Data Center in Downtown Atlanta

by Julia Sanders April 27, 2021

ATLANTA — American Tower, a data center REIT based in Boston, has expanded its American Tower Metro Data Center facility at 55 Marietta St. in downtown Atlanta. The addition brings nearly 20,000 square feet and 2 additional megawatts of capacity to the facility. American Tower has fully integrated the data center, formerly known as Colo Atl, into the American Tower brand. American Tower hopes with the expansion to provide its customers with more power and capacity, giving them a vehicle to provide stronger connectivity options. With the completion of the expansion, American Tower Metro Data Center now has a total of about 44,500 square feet across its second, fifth and eighth floors, while the added capacity brings the total to 4 megawatts. In 2020, additional improvements were completed, including renovations on the fifth floor, the addition of a new dedicated “meet-me-area,” upgrades to the security and surveillance systems and revamped workspaces on each floor for customers.

April 27, 2021

Industrial Leasing Activity Texas

Lee & Associates Negotiates 308,777 SF Industrial Lease Renewal in Fort Worth

by Taylor Williams April 27, 2021

FORT WORTH, TEXAS — Lee & Associates has negotiated a 308,777-square-foot industrial lease renewal at 1000 Terminal Road in Fort Worth. According to commercialcafé.com, the Class B property was built on 25.9 acres in 1991, totals 600,000 square feet and offers 366 parking spaces. Becky Thompson of Lee & Associates represented the tenant, Marco Co., a locally based manufacturer of retail fixtures and displays, in the lease negotiations. George Curry of JLL represented the landlord, Blackstone.

April 27, 2021

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 422-Unit Self-Storage Facility in Longview, Texas

by Taylor Williams April 27, 2021

LONGVIEW, TEXAS — Marcus & Millichap has arranged the sale of Annie’s Attic Self Storage, a 422-unit facility located in Longview, about 120 miles east of Dallas. The property sits on 6.2 acres and spans 69,820 net rentable square feet. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a limited liability company, in the transaction.

April 27, 2021

Industrial Leasing Activity Texas

Lykes Cartage Signs 68,818 SF Industrial Lease in Grand Prairie, Texas

by Taylor Williams April 27, 2021

GRAND PRAIRIE, TEXAS — Austin-based logistics firm Lykes Cartage Co. Inc. has signed a 68,818-square-foot industrial lease at 2880 113th St. in the central metroplex city of Grand Prairie. Joe Santaularia of Bradford Commercial Real Estate Services and Russell Todd of Centric Commercial represented the tenant in its negotiations for the new space and the subsequent sublease of its existing 28,000-square-foot warehouse in Grapevine. Michael Peinado of Lincoln Property Co. represented the landlord, Columbia Texas 113th Industrial LP.

April 27, 2021

Acquisitions California Industrial Western

Westcore Buys 108,927 SF Warehouse in Southern California for $16M

by Amy Works April 27, 2021

TEMECULA, CALIF. — Westcore has purchased a warehouse building located at 28381 Vincent Moraga Drive in Temecula. A private party sold the asset for $16 million. The 108,927-square-foot property features 40- to 42-foot clear heights and an existing in-rack sprinkler system. The 6.6-acre site offers ample dock-high loading and a fully fenced and secured truck yard. The buyer plans to make several cosmetic and deferred maintenance improvements to the property, including new paint, drought-tolerant landscaping, a new roof and skylights, and interior enhancements to the existing office space. Randy Lockhard of Newmark represented Westcore, while the seller was self-represented in the deal.

April 27, 2021

Development Industrial New Jersey Northeast Self-Storage

Partnership Opens 755-Unit CubeSmart Self-Storage Facility in Montville, New Jersey

by Taylor Williams April 27, 2021

MONTVILLE, N.J. — A partnership between Diversified Properties, The Hampshire Cos. and 1026 Real Estate Investors has opened a 755-unit self-storage facility for CubeSmart in Montville, located in Northern New Jersey. The fully climate-controlled facility has a gross square footage of 98,000 square feet. Diversified Properties, as lead developer, acquired the site in 2015 when it housed a 35,000-square-foot office building and a 2.5-acre pad site. Hampshire Cos. and 1026 Real Estate co-funded equity for the project.

April 27, 2021

Acquisitions Industrial New Jersey Northeast

Cushman & Wakefield Brokers Sale of 272,682 SF Industrial Building Near Philadelphia

by Taylor Williams April 27, 2021

MOORESTOWN, N.J. — Cushman & Wakefield has brokered the sale of Moorestown Distribution Center, a 272,682-square-foot industrial building that is located approximately 10 miles from downtown Philadelphia. The property was originally built on 15 acres in 1990 as the headquarters for gift shop Sbar’s Inc. and was expanded in 1997. Building features include 34 dock doors, 189 car parking spaces and clear heights of roughly 36 and 21 feet. John Gartland and Jonas Skovdal of Cushman & Wakefield represented the seller, the Piperno family, in the deal. Boston-based NorthBridge Partners acquired the asset for $23.2 million.

April 27, 2021

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