Industrial

Ledra Brands Buys Industrial Building in Southern California for $16.6M

by Amy Works February 20, 2020

IRVINE, CALIF. — Ledra Brands, a local lighting manufacturer, has purchased an industrial property located at 88 Maxwell in Irvine. University Medical sold the asset for $16.6 million. Ross Fippinger and Ross Bourne of CBRE represented the buyer, while Gregg Haly and Dave Desper, also of CBRE, represented the seller in the deal. Situated on 3.7 acres within the Irvine Spectrum submarket of Orange County, Calif., the 55,285-square-foot building features 14,684 square feet of office space, four dock-high loading doors, 30-foot clear heights and 125 parking spaces.

February 20, 2020

Acquisitions Arizona Industrial Western

Cushman & Wakefield Brokers $5.6M Acquisition of Industrial Building in Phoenix

by Amy Works February 20, 2020

PHOENIX — Cushman & Wakefield has arranged the purchase of a vacant industrial building located in Southwest Phoenix. KKR, a New York-based global investment firm, acquired the property from LMI Solutions for $5.6 million. The 82,288-square-foot property features 28-foot clear heights, 16 dock-high loading doors and an evaporative cooled warehouse area. The freestanding, fully-fenced building is situated on 5.2 acres at 46 N. 49th Ave. Phil Haenel of Cushman & Wakefield represented the buyer in the deal. Additionally, Haenel, Andy Markham and Mike Haenel, also of Cushman & Wakefield, will handle leasing for the property.

February 20, 2020

Acquisitions Industrial North Carolina Southeast

Beacon Partners Acquires 95,736 SF Industrial Building in Charlotte’s Echo Hills

by Alex Tostado February 19, 2020

CHARLOTTE, N.C. — Beacon Partners has acquired a 95,736-square-foot industrial building in Charlotte. The property offers multiple signage opportunities, parking, outside storage and is set up for a showroom or last-mile distributor. Beacon Partners plans to upgrade the exterior of the building, which can be subdivided for multiple tenants. The building is situated at 3412 Monroe Road, three miles southeast of downtown Charlotte in the Echo Hills neighborhood. Rob Speir and Lawrence Shaw of Colliers International represented Beacon Partners in the sale. Justin Smith of Colliers represented the undisclosed seller. Tim Robertson of Beacon Partner is handling leasing.

February 19, 2020

Acquisitions Arizona Industrial Lee & Associates Western

ViaWest Group Sells Industrial Portfolio in Phoenix for $16.6M

by Amy Works February 19, 2020

PHOENIX — ViaWest Group has completed the sale of Broadway Industrial Center and 45th Avenue Industrial Park in Phoenix. New York-based KKR acquired the three-building portfolio, located at 2950 E. Broadway Road and 77 N. 45th Ave., for $16.6 million. Will Strong of Cushman & Wakefield, along with Matt McDougall and Ken McQueen of Lee & Associates, handled the transaction. Constructed in 1984, 45th Avenue Industrial Park features 24-foot clear heights and a 125- to 150-foot truck court. Current tenants include Storopack and Western Millworks. Broadway Industrial Center consists of two buildings, totaling 95,094 square feet, with 24-foot clear heights and grade-level doors. Major tenants include Reddy Ice, Goldie’s Motors and Cereus Graphics. At the time of sale, both properties were fully leased.

February 19, 2020

Development Industrial Texas

IDV Breaks Ground on Phase I of 3.5 MSF South Belt Central Business Park in South Houston

by Taylor Williams February 19, 2020

HOUSTON — Locally based firm Investment & Development Ventures LLC (IDV) has broken ground on Phase I of South Belt Central Business Park, a development in Houston that will ultimately feature 3.5 million square feet of industrial space. The site spans 214 acres with nearly a full mile of frontage along Beltway 8 on the city’s south side. Phase I of the project, which is slated for a fourth-quarter completion, will consist of a 305,016-square-foot cross-dock building and a 131,553-square-foot side-load building. Cushman & Wakefield is handling leasing of the project.

February 19, 2020

Development Industrial Texas

Jackson-Shaw Buys Land in Northwest Houston for 476,640 SF Industrial Project

by Taylor Williams February 19, 2020

HOUSTON — Jackson-Shaw, a North Texas-based industrial developer, has acquired 45 acres in northwest Houston for the development of Nexus Park Northwest, a project that will ultimately feature 476,640 square feet of Class A industrial space. Preliminary plans call for four buildings that can accommodate users requiring between 15,000 and 200,000 square feet. Diamond Realty Investments Inc. is Jackson-Shaw’s equity partner on the project. Burton Construction is the general contractor, and Powers Brown is the architect. Construction is scheduled to begin in March and to be substantially complete by December.

February 19, 2020

Acquisitions Industrial Self-Storage Texas

Bellomy Negotiates Sale of 208-Unit Self-Storage Facility in Central Texas

by Taylor Williams February 19, 2020

LITTLE RIVER-ACADEMY, TEXAS — Bellomy & Co. has negotiated the sale of Academy Mini Storage, a 208-unit self-storage facility in Little River-Academy, a city located just south of Temple in Central Texas. The property was built in 2003 and features 27,000 net rentable square feet as well as nine acres for additional expansion. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, a locally based family trust, in the transaction. Academy Mini Storage was 68 percent occupied at the time of sale.

February 19, 2020

Acquisitions Industrial Midwest Ohio

Covington Group Purchases 583,000 SF Volvo-Occupied Warehouse in Metro Columbus

by Kristin Harlow February 19, 2020

LEWIS CENTER, OHIO — An affiliate of Covington Group Inc. has purchased a 583,000-square-foot warehouse and distribution center located at 8355 Highfield Drive in Lewis Center, about 20 miles north of Columbus. The purchase price was undisclosed. Located on a 31-acre site, the property features a clear height of 24 feet and 32 dock doors. It is fully occupied by Volvo Group North America, which uses the building for its slow-moving parts division for trucks and heavy equipment. Dallas-based Covington owns and manages approximately 5.5 million square feet of industrial assets nationwide.

February 19, 2020

Indiana Industrial Loans Midwest

Ariel Property Advisors Arranges $19.9M Acquisition Loan for Industrial Facility in Indiana

by Kristin Harlow February 19, 2020

BEDFORD, IND. — The capital services division of Ariel Property Advisors has arranged a $19.9 million loan for the acquisition of a 384,000-square-foot industrial facility in Bedford, about 75 miles south of Indianapolis. A West Coast-based lender provided the loan, which features a 10-year, fixed-rate term and a 30-year amortization schedule. The property is home to defense contractors SAIC and Raytheon, as well as other tenants.

February 19, 2020

Acquisitions Industrial Midwest Minnesota

Ackerberg Acquires 75,480 SF Industrial Building in Maplewood, Minnesota

by Kristin Harlow February 19, 2020

MAPLEWOOD, MINN. — Ackerberg has acquired a 75,480-square-foot industrial building located at 1140 Gervais Ave. in Maplewood, just east of St. Paul. The purchase price was undisclosed. The property features a clear height of 22 feet and 19 dock doors. It is fully leased to Minneapolis food bank Second Harvest Heartland. This summer, the food bank plans to relocate some of its operations to Brooklyn Center, thereby creating approximately 50,000 square feet of available space within the building. Dave Stokes and Chris Weirens of Cushman & Wakefield will market the space for lease on behalf of Ackerberg. Tim Carlson and Jim Vos of Cresa Partners represented the seller, Second Harvest Heartland.

February 19, 2020

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