FORT WORTH, TEXAS — Hawk Logistics has signed a 26,707-square-foot industrial lease in East Fort Worth. The space is located within Building 1 of the Riverbend East development. Tomas Wilson, Alex Wilson and Mark Graybill of Lee & Associates represented the tenant in the lease negotiations. Steve Trese and Brian Gilchrist of CBRE, along with Wilson Brown of HPI Real Estate Services & Investments represented the landlord, Leon Capital.
MCKINNEY, TEXAS — Lee & Associates has negotiated a 20,092-square-foot industrial lease in the northern Dallas suburb of McKinney. The space is located within Building 2 at McKinney Trade Center. Brett Lewis and Taylor Stell of Lee & Associates represented the tenant, Blount Fine Foods Corp., in the lease negotiations. Ken Wesson and Adam Graham, also with Lee & Associates, represented the landlord, Chicago-based ML Realty Partners.
LOS ANGELES — All Access Rentals has purchased a 34,664-square-foot industrial property located at 11640 Hart St. in the North Hollywood neighborhood of Los Angeles. The sales price was $7.8 million. Chris Nelson, Jacob Castro and Ben Turner of Matthews brokered the deal. The name of the seller was not released. The property features M2 zoning, clear heights ranging from 24 feet to 38 feet, three grade-level loading doors and a secured fenced yard. All Access Rentals, a construction equipment rental company, will use the property to expand its footprint into the Los Angeles market.
ORLANDO, FLA. — JLL Capital Markets has arranged the $56.1 million sale of Cypress Park, a 256,838-square-foot industrial property located along Satellite Boulevard in Orlando. Luis Castillo, Cody Brais, Taylor Osborne, David Orta Jr. and Mia Gian of JLL represented the seller, Herbert Management Corp., in the transaction. The buyer was Midtown Capital Partners. Situated directly off Florida’s Turnpike and U.S. Route 441 interchange near the Orlando International Airport, the five-building industrial property sits on roughly 23.4 acres and features 45 dock-high doors, 18 drive-in and grade-level doors, clear heights ranging from 20 to 22 feet and up to 100-foot truck court depths. At the time of sale, Cypress Park was 99 percent leased to 26 tenants across nine industries such as technology, manufacturing, building materials, construction, retail distribution, food-and-beverage, financial services and third-party logistics. Suite sizes range from 1,000 to 34,000 square feet.
PHILADELPHIA — Alterra IOS, a Philadelphia-based owner-operator of industrial outdoor storage (IOS) properties, has received two loans totaling $400 million for the refinancing of a national portfolio of 99 such properties. Truist Financial Corp. (NYSE: TFC) and KeyBank (NYSE: KEY) provided the debt with commitments of $225 million and $175 million, respectively. Collectively, the portfolio totals 551 usable acres and nearly 2.1 million square feet of accompanying warehouse facilities. Each site is located in a “major” U.S. industrial and logistics corridor in core markets across California, Florida, Georgia, North Carolina and Texas. Specific breakdowns of locations across these states were not disclosed. The financing was executed utilizing an equity pledge framework as opposed to traditional asset-level mortgages. According to Alterra, this structure enables more streamlined, efficient execution and portfolio-level underwriting by allowing the borrower to “reduce legal and administrative burden(s) by eliminating property-level title work across a multi-state portfolio.” “Structures like this are becoming more relevant as institutional capital seeks efficient ways to access fragmented sectors at scale,” says Kate Mooney, senior associate, capital markets at Alterra. “As IOS portfolios have grown and matured, lenders have developed greater comfort underwriting diversified portfolios rather than individual assets. Equity pledge facilities reflect …
CORPUS CHRISTI, TEXAS — Self-storage brokerage firm Versal has arranged the sale of Action Storage U-Haul, a 279-unit facility in Corpus Christi. The property spans 51,164 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster, Hugh Horne and Kirk Silas of Versal represented the seller, a locally based entity doing business as Mission Lake Estates Inc., in the transaction. The team also procured the buyer, Dallas-based Hinze Capital.
FORT WORTH, TEXAS — NWA Recycling has signed a 17,896-square-foot industrial lease in southeast Fort Worth. The space is located along Fairlane Avenue, although the address was not disclosed. Walker Floyd and Patrick Kelley of Holt Lunsford Commercial represented the tenant in the lease negotiations. Finn Wilson of LanCarte Commercial represented the landlord, Faropoint.
DALLAS — Local brokerage firm Holt Lunsford Commercial has negotiated a 20,258-square-foot industrial lease renewal in northeast Dallas. The tenant is Nevitt Fragrances Inc., and the space is located within the building at 10480 Markison Road, which according to LoopNet Inc. was built in 1987 and totals 49,107 square feet. Josh Barnes, Blake Troiani and Danny Phillips of Holt Lunsford represented the landlord, ATCAP Partners, in the lease negotiations. Adam Jones of Stream Realty Partners represented the tenant.
SOUTHLAKE, TEXAS — ATLIX, a supplier of industrial metal 3D printers, has signed a 17,180-square-foot industrial lease in Southlake, located northeast of Fort Worth. The space is located within the building at 1825 Mustang Court and includes 4,300 square feet of office space. Shane Benner of Bradford Commercial Real Estate Services represented the tenant in the lease negotiations. Keaton Brice, Andrew Gilbert and Maddy Coffman of Holt Lunsford Commercial represented the landlord, Brookfield Properties.
INDIANAPOLIS — Colliers has negotiated the sale of a six-building industrial portfolio totaling 954,072 square feet throughout the Northwest, Northeast and Southwest submarkets of metro Indianapolis. The assets are located in Indianapolis, Fishers and Plainfield. Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse, Tyler Ziebel, Jason Speckman, Jimmy Cohoat and Andrea Hopper of Colliers represented the seller, EQT. Wisconsin-based MLG Capital was the buyer. The portfolio was 90 percent leased to 10 tenants at the time of sale with a weighted average lease term of 4.6 years. Suite sizes range from approximately 24,000 square feet to more than 260,000 square feet. Roughly 40 percent of the square footage is leased to investment-grade tenants. Four of the six assets are located within Park 100, one of the largest industrial parks in Indianapolis.
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