REBusinessOnline

STAG Industrial Sells Two Industrial Buildings in Southern California for $88M

CAMARILLO, CALIF. — STAG Industrial has completed the disposition of two freestanding industrial buildings in Camarillo for $88 million. An undisclosed Southern California-based real estate investment and development company acquired the assets. John DeGrinis, Patrick DuRoss and Jeff Abraham of Newmark Knight Frank represented the seller, while DeGrinis, DuRoss, Abraham, Kevin Shannon, Jim Linn, Bret Hardy and Andrew Briner, also of NKF, represented the buyer in the transaction. Located …

Ready Capital Closes $13.2M Refinancing for Industrial/Flex Portfolio in Metro Seattle

FEDERAL WAY AND AUBURN, WASH. — Ready Capital has closed $13.2 million in financing for the recapitalization, renovation and stabilization of an industrial/flex portfolio located in Federal Way and Auburn, located in metro Seattle. The assets offer approximately 138,000 square feet of Class B industrial and flex space. Proceeds will be used for the recapitalization of funds, capital improvements, tenant leasing costs, and interest and operating shortfalls. The non-recourse, floating-rate …

CBRE Negotiates Sale of 1.7 MSF Industrial Portfolio in El Paso, Santa Teresa

EL PASO, TEXAS AND SANTA TERESA, MEXICO — CBRE has negotiated the sale of the IDI Logistics portfolio, a collection of 20 buildings totaling approximately 1.7 million square feet in El Paso and Santa Teresa, Mexico. Seventeen of the buildings are located in El Paso and three are located in Santa Teresa. The portfolio was 96.4 percent occupied at the time of sale. William Caparis, Andres Sandoval and Jonathan Bryan of CBRE represented Atlanta-based IDI Logistics in the transaction. The buyer …

Allied Stone Signs 226,000 SF Industrial Lease at Eagle Park 20/35 in Metro Dallas

DESOTO, TEXAS — Allied Stone Inc., a provider of quartz, granite and marble countertops, has signed a 226,000-square-foot industrial lease at Eagle Park 20/35 in the southern Dallas suburb of DeSoto. The building spans 454,408 square feet, is situated off Interstate 35 and features a cross-dock configuration with 32-foot clear heights. Matt Dornak and Drew Feagin of Stream Realty Partners represented the landlord, Ridgeline Property Group, in the lease

Lyman Negotiates 4,000 SF Industrial Lease in Westbrook, Connecticut

WESTBROOK, CONN. — Lyman Real Estate has negotiated a 4,000-square-foot industrial lease in Westbrook, located approximately 30 miles east of New Haven. Septic system servicer Skips Wastewater Services plans to occupy the space at 132 Cross Road beginning in March. Ron Lyman of Lyman Real Estate represented Skips Wastewater in the lease negotiations. Lyman also represented the landlord, 132 Cross Road

Zilber Property Group to Build Two Spec Industrial Buildings at Salem Business Park in Wisconsin

SALEM LAKES, WIS. — Zilber Property Group (ZPG) is developing two new spec industrial buildings at Salem Business Park in the village of Salem Lakes in southeast Wisconsin. Stabio North America has signed a lease to occupy 110,500 square feet at one building, while Advent Tool and Manufacturing Inc. will occupy 25,000 square feet of a 50,000-square-foot building. Pending government approvals, ZPG plans to begin construction on both facilities this spring. Completion is slated for the fourth …

Standard Equipment Sells Headquarters in Chicago for $14.8M

CHICAGO — Standard Equipment Co. has sold its headquarters property in Chicago’s Fulton Market West for $14.8 million. The 2.8-acre site includes four buildings totaling 43,828 square feet as well as a lot for truck and trailer parking. It has served as the environmental equipment company’s headquarters since 1986. Standard Equipment will relocate its operations to Elmhurst this quarter. George Toscas of ACO Commercial represented the buyer, Realterm

DFW Industrial Market Poised for More Growth in 2020

The Dallas-Fort Worth (DFW) real estate market is remarkable. In a recent meeting with a broker from another market, he made the observation: “You guys in Texas are like a country unto yourself. It’s not that you don’t know there are 49 other states, you just don’t care!” While that was a bit of an exaggeration, the point was well taken. Certainly DFW is not immune to national affairs and recessions, but the market appears to have enough momentum to carry through 2020, though the …

Ascendant Commercial Buys Land in South Fort Worth for 2.2 MSF Industrial Project

FORT WORTH, TEXAS — Ascendant Commercial, a Dallas-based investment and development firm, has purchased land at the northwest corner of Interstate 35 and State Highway 1187 in south Fort Worth for a 2.2 million-square-foot industrial project. Construction of Phase I of the project is expected to commence this summer and to feature an 850,000-square-foot speculative distribution center. Delivery is slated for May 2021. CBRE is handling leasing of the new

EVBox Signs 60,000 SF Lease for North American Headquarters in Libertyville, Illinois

LIBERTYVILLE, ILL. — EVBox has signed a 60,000-square-foot lease for its first North American headquarters and production facility located in Libertyville, about 40 miles north of Chicago. EVBox, which is a manufacturer of electric vehicle charging stations and charging management software, will occupy the space within the Innovation Park campus. The facility is expected to create between 80 and 120 new jobs in the immediate region. Operations will commence this summer. Based in Amsterdam, …

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