LAS VEGAS — Colliers International has arranged the sale of an industrial property located at 6280 Annie Oakley Drive in Las Vegas. 1201 American Pacific LLC acquired the asset from JPFH II LLC for $4.7 million. The property features 23,604 square feet of industrial space. Suzette LaGrange and Kara Walker of Colliers represented the seller, while Dan Doherty, Paul Sweetland, Chris Lane and Jerry Doty of Colliers represented the buyer in the deal.
SAN FRANCISCO — CBRE Capital Markets has secured construction financing for The Maclac Building, a five-story, 108,161-square-foot property located at 192-198 Utah St. and 151-191 Potrero Ave. in San Francisco. The borrower, a joint venture between affiliates of Comstock Realty Partners and Dune Real Estate Partners, plans to redevelop the asset, which is zoned as a production, distribution and repair (PDR). PDR refers to a variety of businesses encompassing dent and repair shops, marketing and advertising companies, traditional brick-and-mortar retailers and others, and according to the San Francisco Planning Department is used “instead of industrial to avoid conjuring images of heavy, ‘smoke-stack’ industry, such as large manufacturing plants, smelting operations and refineries.” Mike Walker and Brad Zampa of CBRE’s San Francisco office arranged the five-year, floating-rate, full-term interest-only financing for the borrower. The property spans five interconnected buildings over two parcels and half a city block in San Francisco’s SOMA Potrero District. Redevelopment started in May 2020 and is being completed in phases, with delivery expected for third-quarter 2022. The joint venture plans to reconfigure, upgrade and expand the current structures with 4,000 amps of power, updated building systems, green roof terraces and a multi-story glass atrium lobby tying the …
LAKELAND, FLA. — Cushman & Wakefield has arranged the sale of Dragstrip Logistics Center, a 710,962-square-foot, Class A distribution center located in Lakeland. Amazon is a tenant at the facility, according to the Tampa Bay Business Journal. Mike Davis, Rick Brugge, Stewart Calhoun, Rick Colon, Casey Masters, Dominic Montazemi and Zachary Eicholtz of Cushman & Wakefield represented the seller, Atlanta-based Ackerman & Co., in the transaction. Led by Steve Centrella, Intercontinental Real Estate Corp. acquired the property on behalf of one of its managed funds. The purchase price was not disclosed. Located at 8100 State-Road 33, Dragstrip Logistics Center is located between Tampa and Orlando and is situated along the Interstate 4 corridor. The building features a cross-dock design with 146 dock-high doors, 40-foot clear heights, 185-foot truck court depths plus 60-foot concrete aprons, 183 trailer drops, 858 van stalls and ESFR fire protection.
WHITELAND, IND. — Mohr Capital, a Dallas-based privately held real estate investment firm, has started construction on a new speculative industrial development within Mohr Logistics Park in Whiteland. The 827,000-square-foot development will feature a clear height of 32 feet. Mohr is also scheduled to break ground on a 1 million-square-foot project within the logistics park in the next 60 days. The 827,000-square-foot building is slated for completion in October, while the 1 million-square-foot project is scheduled to wrap up in January.
PHOENIX — Lincoln Property Co. has completed the disposition of an industrial portfolio located at 4441 W. Polk St., 120 E. Watkins St., 4720 W. Van Buren St. and 5240 and 5302 W. Buckeye St. in Phoenix. KKR acquired the fully leased, multi-tenant portfolio for $68 million. Totaling 540,039 square feet, the buildings were constructed between 1980 and 1990 and offer 24- to 28-foot clear heights, dock-high and grade-level doors and generous parking ratios. The buildings were designed as multi-tenant industrial warehouses for small to mid-size users. Darla Longa of CBRE’s National Partners team represented the seller in the deal.
CEDAR PARK, TEXAS — Dallas-based self-storage investment firm Montfort Capital Partners has purchased A3 Storage Centers, a 494-unit facility in Cedar Park, a northern suburb of Austin. The property was built on 5.6 acres in 1994 and spans 48,235 net rentable square feet. Jon Danklefs of Marcus & Millichap represented Montfort Capital, which plans to rebuild the leasing office and add a new climate-controlled building later this year, in the transaction. The seller was not disclosed.
BURLESON, TEXAS — Self-storage brokerage firm Bellomy & Co. has arranged the sale of I-35 Storage in Burleson, a southern suburb of Fort Worth. The property spans 55,531 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, a locally based limited liability company, in the transaction. Aaron Palmer of Modern Mountain Real Estate represented the buyer, Raleigh, N.C.-based 10 Federal.
DOWNERS GROVE, ILL. — Bridge Development Partners LLC has acquired a 9.2-acre site at 5300 Belmont Road in Downers Grove, a southwest suburb of Chicago. Bridge will develop Phase III of Bridge Point Downers Grove at the site. Construction is scheduled to begin this summer following the demolition of an existing building. Plans call for a 126,445-square-foot industrial building with a clear height of 32 feet, 13 exterior dock doors, two drive-in doors, a 130-foot truck court and parking for 137 cars. Completion is slated for the fourth quarter. Sean Henrick and David Friedland of Cushman & Wakefield represented Bridge in the transaction. CBRE represented the undisclosed seller.
RED OAK, IOWA — Bellomy & Co. has brokered the sale of Hawkeye Storage in western Iowa’s Red Oak for an undisclosed price. The Class B self-storage facility includes 189 units and spans 29,120 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy represented the seller, THR Storage LLC. The duo also procured the buyer, Dougherty Storage LLC.
LAWRENCE, MASS. — Boston-based Berkeley Investments has purchased two light industrial buildings totaling 340,000 square feet at 246 and 250 Canal St. in Lawrence, a northern suburb of Boston. Andrea Management sold the assets, which were originally built as commercial mills, to Berkeley Investments for an undisclosed price.
