MISSOURI AND OHIO — Box Equities has acquired two distribution centers in Missouri and Ohio. The first property is a 900,000-square-foot center anchored by Home Depot in Missouri. The second asset is a 150,000-square-foot Pepsi distribution center in Ohio. Seller information and sales prices were undisclosed. New York-based Box Equities, which launched only eight months ago, now owns and manages more than 1.8 million square feet of industrial real estate.
HIAWATHA, IOWA — BDC Group Inc. has moved into its newly constructed headquarters at 1525 Ketelsen Drive in Hiawatha, a northern suburb of Cedar Rapids. The 25,000-square-foot facility features a mix of office, warehouse and flex space. The property will enable BDC to consolidate its Iowa operations teams from multiple facilities in Cedar Rapids. Erica Seelman of GLD Commercial represented BDC throughout the site selection process and lease negotiations. BDC, otherwise known as Building Diverse Communications, is a solutions-based provider that specializes in outside plant construction, telecommunications site development, network infrastructure and maintenance.
LANCASTER AND WOODLAND, CALIF. — Westcore has acquired a two-property industrial portfolio, totaling more than 1.4 million square feet of space, located at 2801 West Ave. H in Lancaster and 1755 E. Beamer St. in Woodland. Kimco Realty Corp. sold the portfolio for $108 million. Rite Aid occupies both distribution warehouses on 20-year leases. The Lancaster facility features 926,860 square feet and the Woodland property offers 508,000 square feet. Darla Long, Barbara Emmons and Rebecca Perlmutter of CBRE represented the seller, while Westcore was self-represented in the transaction.
LAS CRUCES, N.M. — The LeClaire-Schlosser Group of Marcus & Millichap has arranged the sale of Dona Ana Storage, a self-storage property in Las Cruces. Haggar Group acquired the asset. Terms of the transaction were not released. The buyer has rebranded the facility as StorWise Self Storage. The property features 273 non-climate-controlled units with tilt-up concrete exterior walls, metal Kynar-coated roofs, concrete drive aisles, LED lighting, security cameras, an on-site management apartment, leasing office and keypad controlled gate. Thomas Parsons and Adam Schlosser of Marcus & Millichap’s Denver office, along with Matthew Reeves of the firm’s Albuquerque office, represented the seller in the deal.
ONTARIO, CALIF. — Alere Property Group is developing a speculative industrial facility located on 9.3 acres at 1656 S. Cucamonga Ave. in Ontario. With construction underway, the 211,000-square-foot property will feature 40-foot clear heights; a 5,000-square-foot, two-story office space; 23 dock-high doors; two ground-level doors; and a 185-foot truck court with extra trailer parking. Completion is slated for third-quarter 2021. Additionally, Alere Property acquired two industrial properties: 1062 McGaw Avenue in Irvine and 14422 Astronautics Drive in Huntington Beach. Terms of the transactions were not released. The company will redevelop the 5.2-acre site in Irvine, which Ricoh USA occupies, into a 120,000-square-foot industrial facility with 36-foot clear heights, 13 dock-high doors and two ground-level doors. Completion is slated for 2023. The 47,000-square-foot Huntington Beach property, which Terrible Herbst Motorsports occupies, features 26-foot clear heights, a secured fenced yard and three ground-level doors.
HOLLYWOOD, FLA. — Cushman & Wakefield has arranged the $9.9 million sale of Hollywood Design Center, a fully leased, 57,383-square-foot industrial building in Hollywood. Dominic Montazemi, Mike Ciadella, Scott O’Donnell, Greg Miller and Miguel Alcivar of Cushman & Wakefield represented the seller, an entity doing business as Avid Asset Properties Hollywood LLC, in the transaction. Larry Genet and Tom O’Loughlin of CBRE also assisted the seller in the transaction. The buyer was an entity doing business as KD Properties Group LLC. Hollywood Design Center features two tenants on long-term leases. The center is the international headquarters for Silver Airways and houses the company’s training center, command center and executive offices. The other tenant is UHS Hardware, a national commercial and residential hardware supplier. UHS Hardware occupies the other half of the property and moved to Hollywood Design Center after outgrowing its old space nearby. Located at 2850 Greene St., the center features seven functional warehouse bays with 24-foot clear heights, LED lighting, air conditioning throughout and ESFR sprinkler systems. Built in 1968, the property features a new roof under warranty, multiple HVAC unit replacements, a resealed and restriped parking lot and cosmetic upgrades to the exterior façade.
LAS VEGAS — Colliers International Las Vegas has arranged the purchase of an industrial building located at 3873 W. Oquendo Road in Las Vegas. The buyer, 963963 LLC, purchased the property from an undisclosed seller for $2.9 million. Situated within Stadium Industrial Park, the asset features 20,064 square feet of industrial space. Chris Connell and Grant Traub of Colliers International represented the buyer in the transaction.
AUBREY, CROWLEY AND WYLIE, TEXAS — Bellomy & Co. has negotiated the sale of a portfolio of five self-storage facilities in the Dallas-Fort Worth metroplex. Totaling 1,736 units and 278,840 net rentable square feet, the Class A properties are located in Aubrey (north of Frisco), Crowley (south of Fort Worth) and Wylie (south of Dallas). Bill Bellomy and Michael Johnson of Bellomy & Co. represented the Dallas-based seller in the transaction. The buyer was a New York-based investment firm doing business as Storage King USA.
PHILADELPHIA — New Jersey-based Greek Development has acquired a 305,706-square-foot industrial facility located at the base of the Betsy Ross Bridge in Philadelphia. The price was $31.5 million. The property features clear heights of 19 to 21 feet, 30 loading doors and more than 350 parking spaces. John Plower, Ryan Cottone, Larry Maister and Kyle Lockard of JLL represented the seller, an entity doing business as 2121 Wheatsheaf Lane LLC, in the transaction. The property was leased to cocoa bean distributor Dependable Distribution Services at the time of sale.
CBRE Negotiates Sale of Two Industrial Properties Totaling 198,721 SF in Elizabethtown, Pennsylvania
ELIZABETHTOWN, PA. — CBRE has negotiated the sale of two industrial properties totaling 198,721 square feet within Conewago Industrial Park in Elizabethtown, located in Lancaster County. Built in 2019, the properties were fully leased at the time of sale to Bel-Aqua Pool Supply Co. and Packaging Corp. of America. Michael Hines, Brian Fiumara, Brad Ruppel, Joe Hill and Lauren Dawicki of CBRE represented the seller, a partnership between Novaya Foxfield Industrial and Drake Real Estate Partners, in the transaction. Boston-based Cabot Properties purchased the assets for an undisclosed price.