ATHENS, TEXAS — Marcus & Millichap has brokered the sale of North Loop Mini Warehouses, a 277-unit self-storage facility in Athens, about 75 miles southeast of Dallas. The facility was built on 7.6 acres in 1994 and spans 53,812 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a local family, in the transaction and procured the buyer, a California-based private investor. Both parties requested anonymity.
HOUSTON — Locally based brokerage and investment firm Finial Group has acquired a 21,500-square-foot industrial building in North Houston. The building at 15375 Vantage Parkway E features 20-foot clear heights, two grade-level doors and four dock-high doors. The building was leased to Williams Insulation at the time of sale. The seller and sales price were not disclosed.
CHICAGO — JLL has arranged the sale of a 10.5 million-square-foot industrial portfolio in the Southeast. EQT Real Estate is selling the 46-building portfolio to an affiliate of California-based LBA Realty for an undisclosed price. John Huguenard, Trent Agnew, Will McCormack and Tara Hagerty of JLL represented the seller in the transaction. Additionally, Kevin MacKenzie, Peter Thompson, Steven Klein and Chris Pratt of JLL arranged an undisclosed amount of acquisition financing through two national banks for the buyer. The sold portfolio features properties in 10 separate markets, including Charlotte and Greensboro, N.C.; Greenville-Spartanburg, S.C.; Atlanta and Savannah, Ga.; Tampa, Orlando and Jacksonville, Fla.; and Birmingham and Huntsville, Ala. The logistics facilities in the portfolio average 230,000 square feet in size, according to JLL.
ALLENTOWN, PA. — Chobani has entered into an agreement to acquire the former manufacturing facility of Keurig Dr. Pepper in the Lehigh Valley city of Allentown, including the lease, equipment and operations, for $125 million. Keurig Dr. Pepper first opened the 1.5 million-square-foot facility in 2021, and the announcement coincides with Keurig Dr. Pepper agreeing to sell its full equity stake in Chobani back to the company for $800 million. Both of those transactions are expected to close in the third quarter. Chobani’s acquisition of the facility comes as part of a larger capital investment in the Lehigh Valley that is valued at 1.2 billion and expected to add about 900 new jobs to the local economy. The provider of dairy products plans to add up to 10 new production lines and says that the new facility will give the company “the capacity to scale new products while continuing to develop new formats and food-and-beverage platforms.”
BENSENVILLE, ILL. — BDK Express, a trucking and logistics company, has signed a full-building industrial lease totaling 120,985 square feet at 951 Thorndale Ave. in Bensenville. Paddy Dwyer, Joe Bronson and Pat Clifford of NAI Hiffman represented the landlord, Prologis. The Class B distribution center features a clear height of 24 feet, 20 loading docks and immediate access to I-390 as well as proximity to the Chicago O’Hare International Airport.
FORT COLLINS, COLO. — Ogilvie Partners has sold Prospect Innovation Campus, an industrial flex and research-and-development (R&D) campus in Fort Collins, to Denver-based ZS Capital Partners for $42 million. The 226,000-square-foot property comprises 11 buildings across four developments: Midpoint 3, River Center, Spring Creek and One Prospect. Constructed between late 1980s and early 2000, Prospect Innovation Campus offers a mix of small-bay industrial, flex and R&D space, as well as flexible suite configurations and a blend of office and warehouse components. The campus provides convenient access to I-25. Jeremy Ballenger, Tyler Carner, Patrick Devereaux, James Brady and Campbell Davis of CBRE represented the seller in the transaction.
EL SEGUNDO, CALIF. — Newmark has brokered the sale of a research-and-development (R&D) office facility in El Segundo, located just south of Los Angeles International Airport. Hackman Capital Partners sold the property, which is fully leased to electric vehicle manufacturer Rivian on a triple-net basis, to Majestic Asset Management for $27.2 million, or $480 per square foot. Situated on 2.1 acres at 401 Coral Circle, the 56,815-square-foot facility features 24-foot clear heights, six dock-high doors, 3,000 amps of power, a car wash and 110 parking stalls. Originally built in 1967 and renovated in 2020, the property serves as both a customer-facing service center and a highly secure R&D facility, supporting Rivian’s consumer and commercial vehicle lines. Kevin Shannon, Rob Hannan, Ken White, Laura Stumm, Micheal Moll, Ryan Plummer, Andrew Briner and Aaron Banks of Newmark represented the seller in the deal. Blake Thompson and Travis Bailey, also with Newmark, provided support on the debt strategy and financing consideration throughout the transaction process.
MONAHANS, TEXAS — Marcus & Millichap has brokered the sale of a portfolio of five self-storage facilities totaling 64,200 net rentable square feet across 529 units in Monahans, located just outside of Midland in West Texas. Known as the Double D Storage Portfolio, the facilities were originally developed on a combined 4.5 acres in 1993 and were 98 percent occupied at the time of sale. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
TULSA, OKLA. — Locally based investment firm TruCore Industrial has purchased a roughly 100,000-square-foot complex in northeast Tulsa. The property at 1872 N. 75th E. Ave. consists of four buildings that were fully leased at the time of sale to American Power Innovations, a manufacturer of power and energy equipment. The deal traded off-market. The seller and sales price were not disclosed.
DORAL, FLA. — Avison Young has arranged the $86 million sale of a 14-property small-bay industrial portfolio in Doral, a western suburb of Miami. The price equated to $296 per square foot. The portfolio, which is located along NW 54th Street, NW 56th Street, NW 79th Avenue and NW 82nd Avenue, spans 300,000 square feet. Martin Waas of Waas Realty LLC represented the sellers in the transaction. Waas Realty also handled the leasing and management of the warehouses since their development starting in 1973, according to South Florida Business Journal. Michael Fay and David Spillers of Avison Young, along with Industrial Advisors’ Tommy Gil and David Olade and Michael Waite of Miami Warehouse Real Estate, represented the buyer, Midtown Capital Partners.
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