Industrial

Stan Johnson Co. Brokers $14M Sale of Industrial Facility in Fenton, Missouri

by Kristin Harlow July 12, 2019

FENTON, MO. — Stan Johnson Co. has brokered the sale of Cassens Business Center in Fenton for $14 million. The multi-tenant industrial facility spans 132,279 square feet and is located at 2391 Cassens Drive. At the time of sale, the property was fully leased to two national tenants as well as a regional company. Zach Harris and Brad Pepin of Stan Johnson represented the seller, Green Street St. Louis, a Missouri-based developer. RCRL LLC, a New Jersey-based individual investor, purchased the building.

July 12, 2019

Acquisitions California Industrial Lee & Associates Western

Lee & Associates Brokers $3.9M Sale of Industrial Building in San Marcos, California

by Amy Works July 11, 2019

SAN MARCOS, CALIF. — Lee & Associates has arranged the sale of an industrial building, located at 307 E. Carmel St. in San Marcos. James 2002 Revocable Trust sold the property to 307 E Carmel LLC for $3.9 million. The 18,452-square-foot building features 30 percent showroom, 30 percent office and 40 percent warehouse space. The new owner leased the property to Chefs Toys LLC. Marko Dragovic and Isaac Little of Lee & Associates – North San Diego County and Jim Snyder of Lee & Associates – Newport Beach represented the buyer, while Colliers International represented the seller in the deal.

July 11, 2019

Acquisitions Illinois Industrial Midwest

Avison Young Negotiates Sale of 117,472 SF Industrial Building in Suburban Chicago

by Kristin Harlow July 11, 2019

BATAVIA, ILL. — Avison Young has negotiated the sale of a 117,472-square-foot industrial building in Batavia for an undisclosed price. The property is located at 1020 Olympic Drive in Chicago’s Fox Valley submarket. The Class B building was constructed in 1977 and expanded in 1983. The property, situated on a seven-acre site, features clear heights ranging from 24 to 28 feet as well as three rail doors that enable connection to the nearby Burlington Northern Santa Fe rail spur. Tom Curtis and John Moysey of Avison Young represented the seller, a national manufacturing company, which used the facility as a single-tenant building for many years. The building was vacant at the time of sale. Midwest Industrial Funds purchased the asset and has retained Avison Young to market the repositioned property, which will undergo major renovations, including a new roof, installation of modern HVAC systems and an office renovation.

July 11, 2019

Acquisitions Industrial South Carolina Southeast

JLL Negotiates $35.5M Sale of New Industrial Building in Metro Charleston

by Alex Tostado July 10, 2019

HANAHAN, S.C. — JLL has arranged the $35.5 million sale of a new 313,650-square-foot distribution and light assembly center in Hanahan, a northern suburb of Charleston. Science Applications International Corp. (SAIC), a U.S. government contractor, occupies the entire space on a triple net lease. The center is situated on 23.1 acres at 7413 Magi Road. It was delivered in June and features a minimum 32-foot clear height, ESFR sprinkler system, fully conditioned warehouse and tilt-up concrete construction with a glass-lined facade. Patrick Nally, Chris Norvell and Mike Massardo of JLL represented the seller, a joint venture between North Signal Capital and a fund managed by Westport Capital Partners LLC, in the transaction. San Francisco-based Stockbridge purchased the building.

July 10, 2019

Development Industrial South Carolina Southeast

Agricultural Machinery Company to Invest $6M for New Distribution Facility in Upstate South Carolina

by Alex Tostado July 10, 2019

SIMPSONVILLE, S.C. — Agricultural machinery company Alo will invest $6 million for a new distribution facility in Simpsonville. Alo will create 44 jobs over the next five years at the facility. Alo’s operations will include the distribution of farming equipment manufactured by the company at multiple global locations, steel fabrication of made-to-order mounting kits for the agricultural equipment and assembly of products and hydraulic kits. Distribution will be mainly for the U.S. market. The new facility will be located at 130 Monroe Drive, 15 miles south of Inland Port Greer and 12 miles southeast of downtown Greenville. Alo expects to open the new facility in October.

July 10, 2019

District of Columbia Industrial Loans Multifamily Office Retail Southeast

MBA: Q1 Commercial Real Estate, Multifamily Mortgage Originations Rise 12 Percent, Sales Fall 9 Percent

by Alex Tostado July 10, 2019

WASHINGTON, D.C. — Commercial real estate loan originations rose 12 percent in the first quarter of 2019 compared with the same period a year ago, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. The industrial sector climbed 73 percent in loan originations, followed by healthcare (41 percent) and hotels (14 percent). Retail and multifamily both saw increases (9 percent each), while the dollar volume of office property loans was unchanged. “The momentum seen in 2018’s record year of borrowing and lending continued in the first quarter of this year,” said Jamie Woodwell, MBA’s vice president of commercial real estate research. “First-quarter volumes were higher for nearly every property type, and double-digit growth in loan volume for Fannie Mae and Freddie Mac led the increase among capital sources. Low interest rates and strong property values continue to make commercial real estate an attractive market for borrowers.” While loan volumes ticked up, acquisitions across the four major property types fell 9 percent, says MBA. Apartment sales were roughly flat from last year, while office, retail and industrial property sales fell from 14 to 16 percent. The capitalization rates were flat from 2018 for industrial, retail and …

July 10, 2019

Development Industrial Texas

NRG Manufacturing to Open 238,900 SF Industrial Campus in Greater Houston

by Taylor Williams July 10, 2019

WALLER, TEXAS — NRG Manufacturing, a division of AFGlobal Corp., will open a 238,900-square-foot campus within Waller Industrial Park, located on the northwestern outskirts of Houston. NRG has partnered with Houston- and Dallas-based developer Archway Properties to renovate an existing 144,500-square-foot warehouse and office facility and to build a 94,400-square-foot manufacturing and testing center. The latter is under construction and is expected to be complete in November. Don Dennis and Ben Allen of Archway’s advisory division represented the landlord, GeoSouthern Intermediate Holdings, in the lease negotiations.

July 10, 2019

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 145-Unit Self-Storage Facility in Metro Houston

by Taylor Williams July 10, 2019

SPRING, TEXAS — Marcus & Millichap has brokered the sale of Redline Storage, a 145-unit self-storage facility located in the northern Houston suburb of Spring. The property spans 28,248 net rentable square feet. Dave Knobler of Marcus & Millichap represented the seller, a private investor, in the transaction and procured the buyer, a limited liability company based in the area. Redline Storage was close to full occupancy at the time of sale.

July 10, 2019

Acquisitions Industrial Texas

MoxieBridge Acquires 168,600 SF Industrial Portfolio in DFW

by Taylor Williams July 9, 2019

DALLAS, FORT WORTH AND GRAND PRAIRIE, TEXAS — Locally based private equity investment firm MoxieBridge has acquired a 168,600-square-foot industrial portfolio in the Dallas-Fort Worth (DFW) metroplex. The portfolio, which was fully leased at the time of sale, spans seven buildings in Dallas, Fort Worth and Grand Prairie that were built between 2006 and 2009. Combined, the properties offer 560 trailer parking spaces and 34 tenant suites. With this acquisition, MoxieBridge now owns more than 1.3 million square feet of commercial and residential space in Dallas and Houston.

July 9, 2019

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 204-Unit Self-Storage Facility in Forney, Texas

by Taylor Williams July 9, 2019

FORNEY, TEXAS — Marcus & Millichap has brokered the sale of Town & Country Self-Storage, a 204-unit facility in Forney, located east of Dallas. The facility spans 20,311 net rentable square feet. Roger Hendricks of Marcus & Millichap represented the seller, a private investor, in the transaction. Hendricks also procured the buyer, a limited liability company. Both parties requested anonymity.

July 9, 2019

Newer Posts

Older Posts