ST. LOUIS — Marcus & Millichap has arranged the sale of a 26,894-square-foot industrial building in St. Louis for an undisclosed price. The property sits on 3.9 acres at 373 Marshall Ave. It was built in 2005 and expanded in 2016. ICL North America Inc., a chemical and fertilizer company, occupies the building. Adam Abushagur and Tyler Sharp of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The duo also secured the private buyer.
OCEANSIDE, CALIF. — Denver-based Black Creek Group has completed the disposition of Rocky Point Distribution Center, a new, Class A, multi-tenant industrial facility located in Oceanside, a suburb of San Diego. Jackson, Miss.-based EastGroup Properties acquired the property for an undisclosed price. Bryce Aberg, Jeffrey Cole, Jeff Chiate, Mike Adey and Zach Harman of Cushman & Wakefield’s San Diego and Orange County, Calif., offices represented the buyer in the off-market transaction. Situated on 14.3 acres at 1291 and 13122 Rocky Point Drive, the two-building asset includes a 109,163-square-foot building and a fully leased 117,528-square-foot building. The complex was approximately 52 percent leased overall at the time of sale to an industrial mix that includes Wayfair Logistics. The two-building project is a part of a larger group of five buildings originally known as the Pacific Coast Collection.
SURPRISE, ARIZ. — Strategic Storage Trust IV, a public, non-traded REIT sponsored by an affiliate of SmartStop Self Storage REIT, has acquired a newly constructed self-storage facility in Surprise, a suburb of Phoenix. Terms of the transaction, including acquisition price and a seller’s name, were not released. The purchase of the Class A facility marks Strategic Storage Trust IV’s 22nd wholly owned property acquisition and its first property in the Phoenix area. Situated on 3.13 acres at 13788 W. Greenway Road, the 79,000-square-foot property features 716 self-storage units, climate control, drive-up access, ground-level units, overhead lighting and wide aisles and driveways. The property was constructed this year.
JACKSON, TENN. — Gladstone Commercial Corp. has acquired a 241,000-square-foot industrial facility in Jackson, approximately 80 miles northeast of Memphis, for $9 million. The facility is a build-to-suit industrial warehouse that is 100 percent leased to Berry Global Inc, a plastic packaging manufacturer. Buchanan Realty Group assisted seller FirstcChoice Property & Development in the sale. Completed in August 2019, Berry utilizes the warehouse primarily for the storage and distribution of products manufactured at its adjacent production facility. The building is located near Interstate 40 and U.S. Highway 412.
DALLAS — Locally based investment firm Sealy & Co. has acquired a portfolio of 19 light industrial buildings totaling 1.6 million square feet in Dallas. The portfolio was 97 percent leased at the time of sale. Randy Baird of CBRE worked with Scott Sealy Jr., Jason Gandy and Tom Herter of Sealy & Co. to broker the deal, the seller in which was not disclosed. The acquisition is the largest in company history and follows Sealy’s $908 million disposition of a 16.3 million-square-foot industrial portfolio earlier this month.
HOUSTON — Houston-based Investment & Development Ventures LLC (IDV) is has acquired land for the development of a new industrial park in Houston. The development spans 214 acres with nearly a mile of frontage along Beltway 8 on the city’s south side. Dave Ramsey and Brad Elmore of Houston-based NewQuest Properties represented the seller in the land disposition.
HOUSTON — NAI Partners has negotiated a 15,300-square-foot industrial lease at 4318 Bluebonnet Drive in south Houston for Lake Management Services, which specializes in construction and maintenance of lakes and ponds. Jake Wilkinson and Chris Caudill of NAI Partners represented the tenant in the lease negotiations. Clay Pritchett, also with NAI Partners, represented the landlord, Martinez A&M Investments.
COFFEYVILLE, KAN. — An affiliate of Phoenix Investors has purchased an approximately 880,000-square-foot distribution center in Coffeyville in southeastern Kansas. The purchase price was undisclosed. The original facility was built as a distribution center for Golden Brooks in 1978 and then served as an Amazon fulfillment center from 1999 through 2014. The property, which features 70 dock doors and three drive-in doors, sits on 105 acres adjacent to the Coffeyville Municipal Airport. Upon closing, Phoenix executed a lease for the entire facility with Array Technologies for the distribution of solar tracking equipment. Wisconsin Bank & Trust provided acquisition financing. Ken Szady of Marcus & Millichap brokered the sale.
PLEASANT PRAIRIE, WIS. — Associated Bank has provided a $33.1 million loan for the construction of a 590,525-square-foot industrial building within Stateline 94 Business Park in Pleasant Prairie. Fresenius Kabi, a healthcare company specializing in lifesaving medicines and technologies, will occupy the building upon completion in July 2020. The borrower and developer, Bluepoint 94 LLC, is a joint venture between Venture One Real Estate and CRG. Clayco will serve as general contractor. Elizabeth Hozian of Associated Bank handled the loan arrangements and closing.
WEST DEPTFORD, N.J. — Novaya Foxfield Industrial LLC has completed construction of a 122,000-square-foot industrial project in West Deptford, a southern suburb of Philadelphia. Located at 301 Grove Road, the Class A property offers 32-foot clear heights, 10 loading docks, two drive-in doors and office space. NAI Mertz is handling leasing efforts on behalf of Novaya Real Estate Ventures.
