Industrial

Pickett-Circle-SLC-UT

SALT LAKE CITY — MCA Realty has purchased three multi-tenant industrial buildings in Salt Lake City from a private investor for an undisclosed price in an off-market transaction. Totaling 77,944 square feet, the properties are located at 515, 537 and 539 Pickett Circle. Built between 1998 and 2005, 515 Pickett Circle (24,356 square feet), 537 Pickett Circle (43,544 square feet) and 539 Pickett Circle (10,044 square feet) offer 20-foot clear heights and a combined 24 grade-level doors. MCA Realty plans to implement a capital improvement program, including refreshed paint, upgraded landscaping, enhanced parking areas and modernized signage. Travis Healey and Tom Freeman of Colliers represented MCA Realty and the seller in the transaction.

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FARMERS BRANCH, TEXAS — Jet Engine Support Inc. has signed a 19,800-square-foot industrial lease renewal at 12901 Nicholson Road in the northern Dallas metro of Farmers Branch. According to LoopNet Inc., the building was completed in 1981. Keenan Cook of Mercer Co. represented the tenant in the lease negotiations. Keaton Brice, Andrew Gilbert and Jon Skidmore of Holt Lunsford Commercial represented the landlord.

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ATLANTA — Alterra IOS has acquired five industrial outdoor storage (IOS) properties totaling 146,700 square feet across 32 acres in metro Atlanta. Each site is located within industrial submarkets with access to major highways and transportation networks. The properties include: The industrial sites are occupied by a mix of tenants, including a national wholesale food distributor, a national truck rental and transportation services company and a regional equipment rental dealer. ONE Commercial Real Estate, Lee & Associates, King Industrial Realty Inc. and Cone Commercial Real Estate were the brokerages involved in these transactions. The sellers and sales price were not disclosed.

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LOMBARD, ILL. — LSC Development LLC has completed a new self-storage facility at 665 W. North Ave. in the Chicago suburb of Lombard. The project is located at the intersection of North Avenue and I-355 and is six miles southwest of the Chicago O’Hare International Airport. The development is the adaptive reuse of a former Staples office building, which has been transformed into a five-story, fully climate-controlled self-storage facility. The property features 69,375 rentable square feet of self-storage space, 14,960 rentable square feet of parking and a gated vehicle storage area with 64 spaces for RVs, boats and other vehicles. The facility features secure keypad entry and camera surveillance. Groundwork LTD designed the project, while G.A. Johnson & Son served as the general contractor. Byline Bank provided construction financing. Extra Space Storage is managing the facility.

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2756 South Riverside Ave Bloomington CA

GREENWICH, CONN. AND ANNAPOLIS, MD. — Realterm and Starwood Property Trust (NYSE: STWD) have provided a $672 million loan for an industrial outdoor storage (IOS) portfolio spanning 33 markets. The 78-property portfolio, which is owned by affiliates of Atlanta-based Stonemont and New York City-based Cerberus Capital Management, stretches 830 acres. Stonemont and Cerberus will continue to own and operate the properties. The proceeds will refinance an existing $486 million mortgage, return a portion of the money to primary investors and fund closing costs. Eastdil Secured Savills arranged the transaction. Additional details of the deal, including the portfolio’s location and tenant information, were not disclosed. The IOS sites support fleet parking, equipment storage and other logistics activities. According to the press release, the loan is recognized as the largest financing deal of its kind in the IOS sector. “This financing marks a significant milestone for our credit platform and underscores our ability to execute sophisticated solutions that drive industry-making deals,” says Paul Sisson, head of credit at Realterm. “Borrowers are continuing to seek lenders with a deep understanding of the industrial real estate and logistics sectors.” Realterm acquires, develops, finances and manages differentiated real estate and infrastructure assets serving global land, air, …

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DECATUR, TEXAS — Marcus & Millichap has brokered the sale of a 689-unit self-storage facility in Decatur, about 40 miles northwest of Fort Worth. Decatur Self Storage was built on a 19.8-acre site in 1980 (expanded in 2018) and comprises 14 single-story buildings that offer a mix of climate-controlled spaces, drive-up storage units, covered parking and specialty storage options for a total of 121,650 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, an undisclosed, family-owned self-storage operator, in the transaction. The duo also procured the buyer, SW Group, a Houston-based private investment firm that owns and operates 17 self-storage facilities throughout Texas. Decatur Self Storage was roughly 94 percent occupied at the time of sale.

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FORT WORTH, TEXAS — The industrial investment arm of Dallas-based S2 Capital has purchased a 589,022-square-foot park located at 5721 E. Rosedale St. in Fort Worth’s Historic Southside district. The development, which S2 plans to rebrand as Panther City Industrial Park, comprises 31 buildings. The new ownership also plans to invest in capital improvements to suite interiors, as previous ownership already completed upgrades to common areas and building façades. The seller and sales price were not disclosed.

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NEW YORK CITY — Cushman & Wakefield has arranged the $450 million sale of a four-property commercial portfolio located throughout the greater New York City area. The portfolio comprises existing multifamily, retail, healthcare and industrial buildings spanning roughly 4 million square feet, as well as multiple development sites totaling roughly 300 acres, in the following markets: East Fishkill, N.Y., Edgewater, N.J., Norwalk, Conn. and Yonkers, N.Y.   Specifically, the portfolio includes iPark 84, a 270-acre, 1.8 million-square-foot industrial campus in East Fishkill that was originally built to be IBM’s flagship semiconductor manufacturing plant and can support another 1.5 million square feet of new development. Other properties within the portfolio include Edgewater Harbor, a 262-unit waterfront apartment complex with 60,000 square feet of retail space; a 400,000-square-foot mixed-use development in Norwalk that is anchored by a Northwell Health medical outpatient facility; and Trilogy Lofts, a newly constructed, 97-unit apartment building in Yonkers. Andy Merin, Frank DiTommaso and Ryan Dowd of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was a partnership between New York-based Saber-Hightower, Waterfall Asset Management and Dallas-based Lincoln Property Co. John Alascio, Alex Hernanez, Brad Domenico, Chuck Kohaut and Mitch Rothstein, also with Cushman …

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Avondale-Tech-Center-Avondale-AZ

AVONDALE, ARIZ. — Local developer Creation, in partnership with a real estate fund advised by Crow Holdings Capital, has broken ground on Avondale Tech Center, a 700,000-square-foot Class A industrial campus on the western outskirts of Phoenix. LGE Design Build is serving as both architect and general contractor for the project, which is slated for completion in third-quarter 2027. Situated on 38 acres on the northwest corner of 117th Avenue Corporate Drive, Avondale Tech Center will feature three buildings ranging in size from 212,184 to 254,264 square feet. The buildings will offer 36-foot clear heights, seven-inch unreinforced slab floors, four EV chargers with eight charging stalls per building and fully gated entry. Riley Gilbert, John Lydon and Kelly Royle of JLL are handling leasing efforts for the development.

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Gateway-1960-Houston

HOUSTON — Atlanta-based developer Portman has acquired land and received construction financing for Gateway 1960, a 714,339-square-foot industrial project that will be located in North Houston. Neither the acreage of the site nor the amount of the construction loan were disclosed. Gateway 1960 will comprise a 440,323-square-foot cross-dock structure, a 157,723-square-foot front-load building and a 116,293-square-foot rear-load facility, all of which will feature speculative office space, LED lighting and dock-high loading doors. Project partners include general contractor Angler Construction, Powers Brown Architecture as the architect, civil engineer Langan and leasing agent Partners Real Estate. Construction is set to begin before the end of the month and to be complete in the third quarter of 2027.

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