Industrial

MAG Capital Partners Buys 28,500 SF Baby Food Manufacturing Facility in Sanger, California

by Amy Works July 21, 2020

SANGER, CALIF. — Fort Worth, Texas-based MAG Capital Partners has completed the acquisition and 20-year leaseback of a baby food manufacturing facility in California’s Central Valley. Led by Principals Dax Mitchell and Andrew Gi, MAG Capital purchased the fully leased property from Initiative Foods, a private label baby food manufacturer, for an undisclosed price. Located at 1945 Industrial Way in Sanger, the 28,500-square-foot property was built to suit for the tenant-seller, which produces more than 50 varieties of organic products made from locally sourced fruits and vegetables. The facility was completed in November 2019. Mary Garnett and Jim Tuesley of Barnes & Thornburg represented the buyer, while Chelsea Mandel of Stream Capital Partners represented the seller in the transaction.

July 21, 2020

Florida Industrial Loans Office Southeast

Alliant Credit Union Provides $16.2M Refinancing Loan for Industrial, Flex Property in Jacksonville

by Alex Tostado July 20, 2020

JACKSONVILLE, FLA. — Alliant Credit Union has provided a $16.2 million refinancing loan for a 194,000-square-foot industrial/flex property in Jacksonville. The five-year, non-recourse loan has a 30-year amortization schedule. The building was 90 percent leased at the time of the refinancing to tenants including Konica Minolta and Fresenius Medical Care. The asset is situated at 9143 Philips Highway, 14 miles south of downtown Jacksonville. Jacob Cohen of Walker & Dunlop originated the loan on behalf of the undisclosed borrower.

July 20, 2020

Acquisitions Arizona Industrial Western

DAUM Negotiates Purchase of Two Industrial Buildings Near Phoenix for $4.9M

by Amy Works July 20, 2020

GOODYEAR, ARIZ. — DAUM Commercial Real Estate Services has arranged the acquisition of two industrial properties totaling nearly 36,500 square feet in Goodyear, a western suburb of Phoenix. A private investor acquired both buildings for a total of $4.9 million. The two properties feature warehouse and office space, truck wells, grade-level doors, PAD zoning, fenced yards and at least 20-foot clear heights. The assets are located at the intersection of North 137th Avenue and West Auto Drive in Palm Valley Crossing, a larger development that Hopewell Development completed earlier this year. Trevor McKendry and Chris Rogers of DAUM’s Phoenix office represented the buyer in the deal.

July 20, 2020

Acquisitions California Industrial Western

Valore Ventures Sells 28,542 SF Flex Facility in Santa Fe Springs, California

by Amy Works July 20, 2020

SANTA FE SPRINGS, CALIF. — Valore Ventures has completed the disposition of a flex industrial property located at 15511 Carmenita Road in Santa Fe Springs. An Orange County, Calif.-based private investor acquired the asset for an undisclosed price. Built in 1998, the 28,542-square-foot property features 11,437 square feet of office space spanning two floors and 17,105 square feet of one-story industrial warehouse space with 22-foor clear heights at the rear of the building. Additionally, the asset offers a gated parking lot, two drive-in doors and two grade-level doors. At the time of sale, the property was fully leased. Peter Bauman of Marcus & Millichap Phoenix represented the seller, Kenny De Angelis of Valore Ventures, in the deal.

July 20, 2020

Acquisitions Illinois Industrial Midwest

Venture One Acquires 488,571 SF Industrial Building in Batavia, Illinois

by Kristin Harlow July 20, 2020

BATAVIA, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial V LP, has acquired a 488,571-square-foot industrial building located at 601-605 Kingsland Drive in Batavia. The purchase price was undisclosed. The building is fully leased to two tenants. Constructed in 1996, the property was expanded in 2002. It sits on 26.9 acres and features 25 exterior docks, three drive-in doors and parking for 414 cars. There is an additional 7.3 acres on the site that can accommodate more car parking, truck parking or a 132,737-square-foot building expansion. Jeff Devine and Steve Disse of Colliers International represented the undisclosed seller. VK Industrial V LP is a partnership between Venture One and Kovitz Investment Group.

July 20, 2020

Illinois Industrial Midwest Office

Chicago’s Taurus Modal Group Rebrands as TMG Real Estate Advisors

by Kristin Harlow July 20, 2020

CHICAGO — Taurus Modal Group, a Chicago-based real estate advisory firm, has rebranded as TMG Real Estate Advisors (TMG). The rebrand “embraces the firm’s industrial and office real estate brokerage roots, while also recognizing its broader focus as a multi-disciplinary real estate advisory firm,” according to a release from the company. TMG’s expanded service offerings now include strategic consulting, construction services, supply chain solutions, project management, lease administration, portfolio management and workplace strategy. Dan Smolensky and Marat Safir founded the firm in 2015.

July 20, 2020

Development Industrial Texas

Stream Realty, Principal Complete 3.3 MSF Bay Area Business Park Near Port Houston

by Taylor Williams July 17, 2020

HOUSTON — Stream Realty Partners and Principal Real Estate Investors have completed the final phase of Bay Area Business Park, a 3.3 million-square-foot industrial development located near Port Houston. The final phases consisted of three speculative building totaling 1.3 million square feet that were approximately 20 percent preleased at delivery. Development of the original 137-acre site began in 2007, with Phase I being completed in 2008 and adding 1.2 million square feet to the local supply. Phase II was completed in 2016 and added 850,000 square feet, and in 2019, the development team purchased an additional 95 acres for the property’s third and final phase.

July 17, 2020

Industrial Leasing Activity Office Texas

Eatery Essentials to Open 400,000 SF Headquarters, Manufacturing Plant in Dallas

by Taylor Williams July 17, 2020

DALLAS — Eatery Essentials, a provider of food storage containers and the U.S. subsidiary of Taiwanese supplier Vigour Pak, will relocate its corporate headquarters and primary manufacturing and warehousing operations to a 400,000-square-foot facility in Dallas. The facility will be located at 2425 Danieldale Road on the city’s south side and is expected to be operational by October. Eatery Essentials anticipates that the move will create about 150 new jobs.

July 17, 2020

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 41,830 SF Industrial Lease in Arlington

by Taylor Williams July 17, 2020

ARLINGTON, TEXAS — Lee & Associates has negotiated a 41,830-square-foot industrial lease at 4100 New York Ave. in Arlington. According to LoopNet Inc., the property was built in 2018 and spans 110,468 square feet. Adam Graham and Mark Graybill of Lee & Associates represented the landlord, Boston-based Cabot Properties, in the lease negotiations. David Eseke and Gary Collett of Cushman & Wakefield represented the tenant, Wastequip Manufacturing Co., a Charlotte-based manufacturer of trash containers, compactors and other waste management equipment.

July 17, 2020

Industrial Loans Northeast Pennsylvania

Cushman & Wakefield Arranges $20.3M Refinancing of Industrial Asset in Mechanicsburg, Pennsylvania

by Taylor Williams July 17, 2020

MECHANICSBURG, PA. — Cushman & Wakefield has arranged a $20.3 million loan for the refinancing of 6345 Brackbill Boulevard, a 507,634-square-foot industrial asset in Mechanicsburg, located outside of Harrisburg. The property was fully leased at the time of sale and features proximity to several major thoroughfares, including Interstates 81, 76, 83 and 283. John Alascio, Sridhar Vankayala and Maya Steinberger of Cushman & Wakefield placed the loan through Univest Bank & Trust Co. on behalf of the borrower, Penwood Real Estate Investment Management LLC.

July 17, 2020

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