BURLINGTON TOWNSHIP, N.J. — NAI Mertz has brokered the sale of a 46,000-square-foot warehouse in Burlington Township. The price was not disclosed. Located at 308 Connecticut Drive, the property features 21-foot clear heights and is situated alongside Interstate 295. Jonathan Klear of NAI Mertz represented the buyer, Burton Real Estate, in the transaction. The seller, Merchant & Evans Industries, will remain as a tenant in the building.
TEXARKANA, TEXAS — Marcus & Millichap has brokered the sale of Payless Storage Inc., a 587-unit facility located at 927 N. Robison Road in Texarkana, located near the Arkansas border. Situated on 15 acres, the property spans two buildings offering 87,600 net rentable square feet. Brandon Karr and Danny Cunningham of Marcus & Millichap’s Karr Self Storage team represented the seller, a locally based limited liability company, and procured the buyer, a New York City-based private investor. Both parties requested anonymity.
ONTARIO, CALIF. — REDA, a Southern California-based opportunistic real estate investment and development firm, has started construction of the first building within Ontario Ranch Logistics Center. REDA acquired the 125 acres of land for logistics center between November 2017 and April 2018. Building 1 will feature 1.2 million square feet of speculative industrial space, 40-foot clearance heights, 185-foot truck courts, 182 dock-high loading doors, 220 additional trailer parking stalls, and concrete drive and parking areas. Upon complete build out, the logistics center will encompass 2.6 million square feet of industrial space.
RIVERSIDE, CALIF. — Newcastle Partners, in partnership with Sun Life Assurance Company of Canada, has completed the sale of a speculative industrial property nearing completion in Riverside. Situated on 13 acres at 21822 Opportunity Way, the 260,000-square-foot facility is situated within Meridian Business Park. The facility features 32-foot clear heights, an ESFR sprinkler system and a cross-docked design that includes up to 185-foot truck courts. The facility is the third and final phase of activity within Meridian Business Park, a 70-acre site with 1.37 million square feet of industrial space. Phil Lombardo and Chuck Beldon of Cushman & Wakefield represented Newcastle Partners in the transaction.
FRANKLIN PARK, ILL. — Apex Wire Products Co. Inc. has signed a 106,848-square-foot industrial lease in Franklin Park. On March 1, the company will begin occupying the space at 3701 Centrella St. Owned by Morgan Stanley, the Class A facility is located across the street from Chicago O’Hare International Airport. Tom Rodeno and Matthew Stauber of Colliers International brokered the lease transaction.
OMAHA, NEB. — Investors Realty Inc. has negotiated the sale of the 680 Maple Mini Storage facility in Omaha for $8.2 million. The six-building facility is located at 3206 N. 102nd St. Of the 652 total units, 108 are temperature-controlled. John Heinne and RJ Neary of Investors Realty represented the seller. Trenton Magid and Grant Palmer of NAI NP Dodge represented the buyer.
PLANO, TEXAS — Metro Dallas-based brokerage firm ESRP has arranged the sale-leaseback of a 1 million-square-foot office and data center campus in Plano, a northeastern suburb of Dallas. The seller/tenant is NTT Data, a Japanese data systems integration company, and the buyer was an undisclosed, San Francisco-based private equity firm. The property includes two data centers and leasable office space and has the capacity for future data center development. Steve Jarvie, Darren Woodson, Karra Guess and Damian Rivera of ESRP represented the seller in he transaction. Paul Moser and Rob Kennedy of Stream Data Centers represented the buyer.
OKLAHOMA CITY — Tampa, Fla.-based self-storage brokerage firm SkyView Advisors has brokered the sale of a 513-unit Extra Space Storage facility in Oklahoma City. The property features 110 climate-controlled units and 403 non-climate-controlled units across 78,295 square feet. Ryan Clark of SkyView represented the seller in the transaction. The buyer and other terms of sale were not disclosed.
SHARON, MASS. — Precision components manufacturer Senior Metal Bellows and construction management firm Dacon have broken ground on a two-story, 47,000-square-foot flex facility in Sharon. The property is an addition to an existing 65,000-square-foot facility at 1075 Boston Providence Highway in Sharon. The project consists of 25,700 square feet of manufacturing space on the first floor with 21,300 square feet of office space on the second floor. The expansion is Senior Metal Bellows’ sixth in the last 50 years due to growth in innovative capabilities, implementation of next-generation machinery and streamlining of operations. Norwood Engineering is the civil engineering firm of record. William Jackson of William Jackson Associates Inc. is serving as project manager. The project is slated for occupancy this summer.
PERRIS, CALIF. — Rockefeller Group has completed the sale of an industrial distribution building located within Optimus Logistics Center in Perris. KKR, through its Real Estate Partners Americas II Fund, acquired the newly constructed asset for $43.5 million. The 406,650-square-foot building is the second building to be completed and sold at Optimus Logistics Center, a 1.45 million-square-foot industrial complex. Rockefeller Group, in a joint venture with MBK Real Estate, completed the construction of Optimus Logistics Center in September 2018. Mike McCrary, Peter McWilliams, Sharon Wortmann and Scott Coyle of JLL represented both Rockefeller Group and KKR in the transaction.
