Tuesday, June 17, 2025
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Industrial

Crownwood-Industrial-Estates-Bristol-Pennsylvania
AcquisitionsIndustrialNortheastPennsylvania

Benchmark, Regal Ventures Acquire 218,410 SF Industrial Property in Bristol, Pennsylvania

by Taylor Williams

BRISTOL, PA. — A partnership between Pennsylvania-based developer Benchmark Real Estate and New York-based investment firm Regal Ventures has acquired a 218,410-square-foot industrial property in Bristol, located northeast of Philadelphia. Crownwood Industrial Estates comprises three buildings that range in size from 13,042 to 112,348 square feet on a 25-acre site along the I-95 corridor that can support future expansion. At closing, the partnership sold the 112,348-square-foot building to Penn Steel Fabrication, which occupied about half of that building’s space and was facing lease expiration in 2025. Michael Borski and Pat Gilmore of The Flynn Co., a Philadelphia-based brokerage firm, arranged the sale. The seller and sales price were not disclosed.

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DevelopmentIndustrialSouth CarolinaSoutheast

Frampton to Construct 300,000 SF Industrial Facility in Early Branch, South Carolina for Le Creuset

by John Nelson

EARLY BRANCH, S.C. — Frampton Construction plans to build a new 300,000-square-foot distribution facility in Early Branch for Le Creuset of America, a kitchen supply retailer that operates boutique and outlet stores around the country. Set for completion in late 2025, the facility will feature space for bulk and direct-to-consumer distribution, general storage and a two-story designated office space spanning 22,000 square feet with amenities including locker rooms, a kitchen/breakroom, outdoor patio with a grill and a stone walking path surrounding a pond. The space will also feature a lobby and a 2,180-square-foot storefront that will display Le Creuset’s cookware. The build-to-suit facility will sit on 62 acres along Bob Gifford Boulevard and consolidate the tenant’s operations in the area, as well as create 30 new jobs. Architect McMillan Pazdan Smith designed the facility to be expandable by 120,000 square feet.

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1382-E-Foothill-Blvd-Upland-CA
AcquisitionsCaliforniaDevelopmentIndustrialSelf-StorageWestern

Buchanan Street Partners Buys Metro Los Angeles Development Site, Plans 1,180-Unit Self-Storage Project

by Amy Works

UPLAND, CALIF. — Buchanan Street Partners has acquired a 2.1-acre site located at 1382 E. Foothill Blvd. in Upland for $6.2 million from a private owner/developer in an off-market transaction. Buchanan Street Partners plans to redevelop the site, which is located approximately 37 miles east of Los Angeles and is currently occupied by a vacant medical office building, into a Class A self-storage facility. The new four-story, 123,000-square-foot property will offer 1,180 self-storage units. Construction will begin immediately, with completion slated for January 2026. DAI General Contracting is the general contractor, and Wintrust Bank is providing construction financing for the project.

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AcquisitionsColoradoIndustrialWestern

Malman Commercial Real Estate Negotiates $4.5M Sale of Industrial Building in Denver

by Amy Works

DENVER — Malman Commercial Real Estate has arranged the sale of 4600 Ironton Street, an industrial property in Denver. GS Ironton LLC sold the asset to Aspen Ironton LLC for $4.5 million. The property offers 37,636 square feet of industrial space. Jake Malman and Dan Prevedel of Malman Commercial Real Estate represented the seller, while Taylor Roy, also with Malman, represented the buyer in the deal.

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ArizonaDevelopmentIndustrialWestern

Thompson Thrift Completes 400,000 SF First Phase of Industrial Park in Queen Creek, Arizona

by Amy Works

QUEEN CREEK, ARIZ. — Thompson Thrift has completed the construction of the first phase of Germann Commerce Center, an industrial development in Queen Creek, a suburb southeast of Phoenix. Located on the southwest corner of Germann and Meridian roads, the first phase of Germann Commerce Center consists of 400,000 square feet of speculative light-industrial space in five standalone buildings spread across approximately 26 acres. The buildings feature front-park/rear-load industrial space with 28- to 32-foot clear heights and frontage along East Germann Road. Thompson Thrift plans to complete the build-out of the speculative office space in the first phase by the end of the year. The second phase is being marketed for build-to-suit and for-sale options. At full build-out, the 70-acre property will offer just over 1 million square feet of warehouse, distribution, light assembly and manufacturing space across 12 buildings.

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AlabamaDevelopmentIndustrialSoutheast

Scannell Properties Breaks Ground on 500-Acre Industrial Park in Mobile, Alabama

by John Nelson

MOBILE, ALA. — Scannell Properties has broken ground on RailPort Logistics Mobile, a 500-acre industrial park in Mobile. The project is designated by rail giant CSX as a “Platinum CSX Select Site,” meaning it’s been deemed a shovel-ready site along the CSX rail network. At full build-out, RailPort Logistics Mobile will span 4.7 million square feet across 10 buildings. Scannell Properties estimates that the property will support 2,500 workers. The site is located proximate to Port of Mobile and I-10. Phase I will encompass 390 acres, and approximately 149 acres will be reserved for conservation. Scannell Properties plans to invest approximately $15 million for transportation infrastructure upgrades at the site. David Salinas, senior development manager with the Indianapolis-based firm, says the investment will “also benefit the neighboring Todd Acres Industrial Park.”

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AcquisitionsIndustrialMarylandSoutheast

KLNB Brokers $8.3M Sale of Industrial Facility in Frederick, Maryland

by John Nelson

FREDERICK, MD. — KLNB has brokered the $8.3 million sale of a 56,000-square-foot, high-bay warehouse in Frederick, about 40 miles northwest of Washington, D.C. Hercules Custom Iron (HCI), a division of Hercules Fence, purchased the 5.6-acre site at 4607 Wedgewood Blvd., which was formerly home to Flying Dog Brewery. The new Frederick warehouse will triple the size of HCI’s operations and double its shop and office footprint. Marc Balamaci, Ken Fellows, Scott Mendelson and Robert Pugh of KLNB represented the buyer in the transaction. HCI has also tapped KLNB to sell its existing 26,000-square-foot warehouse located at 36 W. Pennsylvania Ave. in nearby Walkersville, Md.

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District of ColumbiaHealthcareHospitalityIndustrialLoansMultifamilyOfficeRetailSoutheast

MBA: Third-Quarter Commercial, Multifamily Borrowing Increased 59 Percent Year-Over-Year

by John Nelson

WASHINGTON, D.C. — Commercial and multifamily mortgage loan originations increased 59 percent in the third quarter of 2024 compared to a year ago, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. The third-quarter volume also represents a 44 percent increase from the second quarter. There was a 510 percent year-over-year increase in the dollar volume of loans for healthcare properties, a 99 percent increase for hotel properties, 82 percent increase for retail properties, 57 percent increase for industrial properties and a 56 percent increase for multifamily properties. Office real estate originations decreased 3 percent from a year ago. Among investor types, the dollar volume of loans originated for commercial mortgage-backed securities (CMBS) increased by 260 percent year-over-year. There was a 69 percent increase for depository (i.e. bank) loans, a 62 percent increase for investor-driven lender loans, 31 percent increase in loans for life insurance companies and a 28 percent increase in loans from government-sponsored enterprises (GSEs, namely Fannie Mae and Freddie Mac). Jamie Woodwell, MBA’s head of commercial real estate research, says that lower interest rates due in part to the Federal Reserve’s 50-basis-point decrease in September were “a key driver” for the uptick …

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Extra-Space-Storage-Denton
AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 493-Unit Self-Storage Facility in Denton, Texas

by Taylor Williams

DENTON, TEXAS — Marcus & Millichap has brokered the sale of a 493-unit self-storage facility in the North Texas city of Denton. Extra Space Storage operates the property, which was built in the early 1980s. The unit mix comprises 84 interior non-climate-controlled units, 294 drive-up non-climate-controlled units, 13 multi-door interior units and two multi-door drive-up units for a total of 58225 net rentable square feet. Brandon Karr of Marcus & Millichap represented the seller, a locally based investor, in the transaction and procured the buyer, a publicly traded self-storage REIT. Both parties requested anonymity.

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AcquisitionsIndustrialTexas

Evergen Equity Buys 26-Acre Industrial Outdoor Storage Facility in Von Ormy, Texas

by Taylor Williams

VON ORMY, TEXAS — Austin-based Evergen Equity has purchased a 26-acre industrial outdoor storage (IOS) facility in Von Ormy, a southwestern suburb of San Antonio. The facility, which according to LoopNet Inc. was built in 2018, is located within Speedway Park and includes a 7,500-square-foot truck terminal with office space, service bays and a storage yard. The seller and sales price were not disclosed. Partners Real Estate is the property’s leasing agent.

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