Industrial

Stos Partners Buys 228,912 SF Coronavirus Test Distribution Site in Temecula, California

by Amy Works May 4, 2020

TEMECULA, CALIF. — San Diego-based Stos Partners has purchased an industrial asset located at 42301 Zevo Drive in Temecula. A private investor sold the facility for $28.9 million in an off-market transaction. Currently, a global, publicly traded healthcare company occupies the entire 228,912-square-foot property. The tenant plans to utilize the facility as part of its distribution network for COVID-19 tests. Scott Stewart of Lee & Associates represented Stos Partners, while Alisa Lovas of Lee & Associates represented the seller in the deal.

May 4, 2020

Development Industrial South Carolina Southeast

Tindall to Develop $27.9M Industrial Facility in Upstate South Carolina

by Alex Tostado May 1, 2020

SPARTANBURG, S.C. — Tindall Corp. has acquired 41 acres in Spartanburg to develop its $27.9 million utility division manufacturing facility. The locally based company, which provides concrete solutions for the industrial sector across the country, will use the new site to expand its operations and create 20 jobs. The new site is situated at 2877 Fairforest Clevedale Road, less than two miles from Tindall’s existing headquarters. Tindall expects the utility division to open in early 2021. The South Carolina Coordinating Council for Economic Development has awarded Spartanburg County a $100,000 Set-Aside grant for costs related to the project. John Montgomery, Garrett Scott and Brockton Hall of Colliers International represented the seller, a private family fund, in the land transaction. Bobby Lyons of Lyons Industrial Properties represented the buyer.

May 1, 2020

Industrial Leasing Activity Texas

Elite Mattress Inks 40,485 SF Industrial Lease Renewal in East Dallas

by Taylor Williams May 1, 2020

DALLAS — Elite Mattress LLC has inked a 40,485-square-foot industrial lease renewal at 5200 E. Grand Ave., located in eastern Dallas. Canon Shoults and Josh Barnes of Holt Lunsford Commercial represented the landlord, Holt Lunsford Commercial Investments, in the lease negotiations. The representative of the tenant was not disclosed.

May 1, 2020

Acquisitions Industrial Northeast Pennsylvania

Velocity Ventures Acquires 51,181 SF Industrial Building in Bensalem, Pennsylvania

by Alex Patton May 1, 2020

BENSALEM, PA. — Velocity Ventures, a Philadelphia-based firm, has acquired a 51,181-square-foot industrial building in Bensalem, a southwestern suburb of Trenton. The sales price was $2.4 million. Located at 1296 Adams Road, the property features a roughly 18-foot clear height and offers quick access to Interstates 276 and 95. The building was approximately 80 percent leased at the time of sale. Jason Ostach and Chris Pennington of Binswanger Commercial Real Estate Services represented Velocity Ventures in the transaction. DM Ventures LLC was the seller.

May 1, 2020

Acquisitions California Industrial Western

Dermody Properties Buys 121,836 SF Logistics Center in Southern California

by Amy Works May 1, 2020

ONTARIO, CALIF. — Dermody Properties has purchased a logistics center located at 3120 E. Mission Blvd. in Ontario for an undisclosed price. The name of the seller was not released. Dermody Properties plans to renovate the 121,836-square-foot property by enhancing the loading, upgrading the fire suppression system to ESFR and improving the aesthetic of both the interior and exterior of the building. The facility will be available for lease beginning July 1. The asset is located within a few miles of major freeways, including Interstates 10 and 15 and State Route 60. Additionally, the facility is 2.2 miles from the Ontario International Airport and approximately 60 miles from the ports of Los Angeles and Long Beach, Calif. Dan de la Paz of CBRE represented Dermody Properties in the acquisition.

May 1, 2020

Industrial Leasing Activity Texas

CBRE Negotiates 152,274 SF Industrial Lease Renewal in Metro Dallas

by Taylor Williams April 30, 2020

COPPELL, TEXAS — CBRE has negotiated a 152,274-square-foot industrial lease renewal at 200 Northpoint Drive in Coppell, located near DFW International Airport. According to LoopNet Inc., the property was built in 2006 and totals 549,848 square feet. Brian Gilchrist and Tim Vogds of CBRE represented the tenant, HVAC manufacturing firm Hart & Cooley, in the lease negotiations. The name and representative of the landlord were not disclosed.

April 30, 2020

Acquisitions Industrial Texas

Marcus & Millichap Brokers Sale of 35,183 SF Industrial Building in Devine, Texas

by Taylor Williams April 30, 2020

DEVINE, TEXAS — Marcus & Millichap has brokered the sale of a 35,183-square-foot industrial building located along the Interstate 35 corridor in Devine, a suburb of San Antonio. A national oilfield services firm currently occupies the property. Brennan Foley and Joshua Murphy of Marcus & Millichap represented the seller, a private investor, in the transaction. Other terms of sale were not disclosed.

April 30, 2020

Acquisitions California Industrial Western

Westport Capital, Cannae Partners Sell Modernized R&D Facility in Silicon Valley for $41.1M

by Amy Works April 30, 2020

MILPITAS, CALIF. — A joint venture between affiliates of Westport Capital Partners and Cannae Partners has completed the disposition of a research and development (R&D) property located at 1565 Barber Lane in Milpitas. New York City-based Empire Square Group acquired the asset for $41.1 million. Situated on 5.5 acres within Oak Creek Business Park, the property features 102,668 square feet of modernized R&D space. Originally developed in 1980, the facility underwent significant improvements in 1996, 2009 and 2019. At the time of sale, the two-story property was fully leased. Eric Fox, Steve Hermann, Adam Lasoff, Seth Siegel and Ryan Venezia of Cushman & Wakefield’s Northern California Capital Markets group represented both parties in the transaction.

April 30, 2020

Acquisitions Industrial Midwest Missouri

Newmark Grubb Zimmer Arranges Sale of Nine-Building Industrial Portfolio in Kansas City

by Kristin Harlow April 30, 2020

KANSAS CITY, MO. — Newmark Grubb Zimmer (NGZ) has arranged the sale of Midtown Park and Rivergate Business Center, two light industrial parks containing a total of nine buildings in Kansas City, for an undisclosed price. The properties total 560,000 square feet. There are four buildings within Midtown Park and five buildings within Rivergate. The portfolio is home to 29 tenants that occupy space ranging in size from 3,600 to 80,000 square feet. Mark Long, John Hassler, Scott Bluhm and Trenton Wahl of NGZ represented the seller, Brennan Investment Group. Sealy & Co. purchased the portfolio.

April 30, 2020

Development Florida Industrial Office Southeast

Aerion Supersonic to Develop $300M Research and Development Campus on Florida’s Space Coast

by Alex Tostado April 29, 2020

MELBOURNE, FLA. — Aerion Supersonic has unveiled plans to develop Aerion Park, a future $300 million office campus in Melbourne. The property will span 60 acres at the Orlando Melbourne International Airport and form a new global headquarters and integrated campus for research, design, build and maintenance of the company’s supersonic aircraft. The company is relocating from Reno, Nev., and will break ground later this year. Aerion expects to create 675 jobs by 2026. At the new site, Aerion will build the AS2, the world’s first privately built supersonic jet.

April 29, 2020

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