TEXAS — Self-storage owner-operator Locktite Storage has sold a portfolio of nine facilities totaling 4,835 units that are located throughout Texas. Specifically, the properties are located in the southeastern and south central cities of Dripping Springs, Wimberly, Seguin, Conroe, Houston, Deer Park, La Porte, Pasadena and Manvel, and offer a total of 684,000 net rentable square feet. Steve Mellon and Brian Somoza of JLL represented Locktite Storage in the transaction. National Storage Affiliates purchased the portfolio for an undisclosed price.
HOUSTON — NAI Partners has secured a 56,400-square-foot industrial lease at 533 Northpark Central Drive in Houston for MIAT College of Technology, which provides career training for students interested in aviation, energy and other technical fields. Chris Kugle and John Ferruzzo of NAI Partners represented the tenant in the lease negotiations. Jason Dillie of Cushman & Wakefield represented the landlord, Prologis.
NEW BROCKTON, ALA. — Ben E. Keith Foods will develop a new 425,000-square-foot distribution center in New Brockton. The facility will be designed to accommodate future expansion up to 1 million square feet. The project will create 80 jobs for the next five years in addition to the more than 230 individuals the company already employs through its distribution center and manufacturing facility in neighboring Elba, Ala. Construction for the project is expected to begin by December 2019 with a completion date by December 2021.
REDDING, CALIF. — The Loeffler Self-Storage Group has facilitated the sale of Best Value Storage, a self-storage facility located along Lake Boulevard in Redding. California-based CP Partners sold the property to a local owner-operator for $6.9 million. Situated on 5.3 acres, Best Value Storage features 64,797 net rentable square feet and 521 self-storage units. The property consists of 15 single-story buildings, a manager’s office and two living quarters. At the time of sale, the property was 100 percent leased. Bobby Loeffler and Tyler Skelly of Loeffler Self-Storage Group represented the seller in the deal.
ELK GROVE VILLAGE, ILL. — Brennan Investment Group has secured its first tenant at Elk Grove Technology Park in Illinois. Broetje-Automation, a specialized production processor in the aviation and aerospace industries, has signed a lease to occupy 43,206 square feet within a 151,693-square-foot building. The site will serve as the company’s U.S. headquarters and production facility for manufacturing and assembling robotic systems and automated equipment. Mike Sedjo, Jack Brennan and John Hamilton of CBRE represented Brennan in the lease transaction. Bill Lussow of Bespoke CRE represented Broetje. Phase I of Elk Grove Technology Park consists of four buildings with a total of 524,583 square feet still available for lease. Completion of the last building is slated for late summer.
ARLINGTON HEIGHTS AND WAUCONDA, ILL. — Newmark Knight Frank (NKF) has brokered the sale of two industrial properties totaling approximately 75,000 square feet in the Chicagoland area. In Arlington Heights, a private investor purchased an 18,557-square-foot facility located at 561-575 S. Arthur Ave., approximately 25 miles northwest of Chicago, for an undisclosed price. The property is fully leased to multiple tenants, including Bosch Tools. In Wauconda, One Liberty Properties purchased a 56,579-square-foot distribution facility located at 1275 Karl Court, about 45 miles northwest of Chicago. Echo Inc., a developer and manufacturer of handheld outdoor power equipment, fully occupies the property on a net lease basis. Adam Marshall and Boris Shraybman of NKF represented the private sellers in both transactions.
FRANKLIN TOWNSHIP, N.J. — Crow Holdings, the industrial development arm of Trammell Crow Co., has broken ground on Crow Holdings at Veronica Ave., a 925,000-square-foot speculative project in Franklin Township. The Class A property will be located between Trenton and Newark and is expected to open in the first quarter of 2020. Building features will include a clear height of 40 feet, 170 trailer parking spaces, 159 dock positions and 394 automobile parking spaces. Cushman & Wakefield will handle leasing of the facility.
FENTON, MO. — US Capital Development has broken ground on a $20 million industrial build-to-suit for 1st Phorm at Fenton Logistics Park in Missouri. The sports nutrition products manufacturer expects to occupy the 182,400-square-foot facility by early next year. Upon completion, the property will house more than 400 employees and feature an auditorium, gym, podcast room, basketball court, kitchen and media rooms in addition to office and warehousing space. With the addition of the new 1st Phorm facility, US Capital Development will have invested more than $111 million in developing Fenton Logistics Park and delivered 50 percent of the industrial space planned within the park. The developer continues to breathe new life into the site of the former Chrysler Plant, which now features 648,411 square feet of completed space, with 88 percent of those buildings occupied. M+H Architects is serving as the architect on the 1st Phorm project, while Stock & Associates is the consulting engineer and Alper Audi Inc. is the structural engineer. CBRE’s Jon Hinds and Katie Haywood represented US Capital Development while Noel Fehr of NAI Desco represented 1st Phorm.
INDIANAPOLIS — PCCP has formed a joint venture with Indianapolis-based Strategic Capital Partners LLC to develop the next phase of Metro Air Business Park in Plainfield on a speculative basis. The 100-acre business park is located along Ronald Reagan Parkway, adjacent to the Indianapolis International Airport. The next phase of development will total 724,878 square feet and will include a 223,480-square-foot Building 8 and a 501,398-square-foot Building 9. Construction is expected to begin in August with completion in the second quarter of 2020. Building 8 will have a clear height of 32 feet while Building 9 will feature a clear height of 36 feet.
SOUTH ELGIN, ILL. — Lee & Associates has brokered the sale of a 10,348-square-foot industrial building located at 1640 Shanahan Drive in South Elgin. The sales price was not disclosed. Jay Farnam of Lee & Associates represented the buyer, West Bank Holdings. Morken & Associates represented the undisclosed seller.