Industrial

HFF Arranges $33M Acquisition of Vacant 340,000 SF Industrial Building in the Inland Empire

by Amy Works January 24, 2019

SAN BERNARDINO, CALIF. — HFF has brokered the sale of a vacant industrial building in San Bernardino. Bixby Land Co. acquired the Class A asset for $33 million. The newly built, 340,000-square-foot property is located at 4982 Hallmark Parkway within the Inland Empire. The acquisition is part of a joint venture with AXA Investment Managers – Real Assets to aggregate $400 million of industrial assets across the Western United States. Andrew Briner and Michael Roberts of HFF represented the buyer, while CBRE represented the undisclosed seller in the transaction.

January 24, 2019

Acquisitions Colorado Development Industrial Western

J.A. Green Development Buys 175 Acres for Expansion at JAG Logistics Center at Denver Airport

by Amy Works January 24, 2019

AURORA, COLO. — J.A. Green Development Corp. has acquired approximately 175 acres of land, located at 26100-26120 E. 68th Ave. in Aurora. The property, situated adjacent to the 75-acre parcel that JAG purchased in 2018, will be part of the JAG Logistics Center at DIA (Denver International Airport). ACP DIA 1287 Investors LLC sold the property for an undisclosed price. Situated at the southern border of Denver International Airport, the business park will ultimately contain more than 3 million square feet of Class A warehouse space in two phases. The logistics center will feature flexible build-to-suit sites ranging from 100,000 square feet to 1 million square feet with an available delivery in fourth-quarter 2020. Alec Rhodes, Tyler Smith and Aaron Valdez of Cushman & Wakefield’s Denver Industrial team are the exclusive listing agents for JAG Logistics Center at DIA, which is part of the Porteos master-planned development and located within a confirmed Opportunity Zone.

January 24, 2019

Acquisitions California Industrial Self-Storage Western

Gelt Inc. Purchases 665-Unit Self-Storage Facility in California for $16.5M

by Amy Works January 24, 2019

SOUTH PASADENA, CALIF. — Los Angeles-based Gelt Inc. has acquired Southmark Storage, a self-storage facility located in South Pasadena. Southmark Storage LLC, a California-based private investor, sold the property for $16.5 million. Situated on a 1.8-acre site at 919 Mission St., the six-building property features 623 indoor storage units, 42 outdoor rental units, a site office and a two-bedroom manager’s apartment. At the close of escrow, the property, which was built in 1986, was 99 percent occupied. Immediately upon closing, Gelt hired Extra Space Storage to streamline operations at the property. Gelt also plans to install new roofs, asphalt and paint, as well as signage, property access systems and the addition of a web payment platform. Greg Nassir and Edward Matevosian of CBRE represented the seller, while Gelt was self-represented in the transaction.

January 24, 2019

Development Industrial Texas

Stream Realty Partners Breaks Ground on 296,615 SF Industrial Project in Metro Dallas

by Taylor Williams January 23, 2019

GRAND PRAIRIE, TEXAS — Stream Realty Partners has broken ground on Grand Lakes | I-30, a 296,615-square-foot industrial project in Grand Prairie, located roughly midway between Dallas and Fort Worth. GSR Andrade is the project architect; Kimley-Horn is the civil engineer and The Conlan Co. is the general contractor. The project is expected to be delivered by the third quarter. Heitman, a global real estate investment management firm, will acquire the property upon completion. Stream Realty Partners will also handle leasing and management of the facility.

January 23, 2019

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 723-Unit Self-Storage Facility in Metro Austin

by Taylor Williams January 23, 2019

ROUND ROCK, TEXAS — Marcus & Millichap has brokered the sale of Mustang Storage, a 723-unit self-storage facility in Round Rock, a northern suburb of Austin. The property, which features 161,590 square feet of traditional storage space, includes 509 storage spaces for boats and recreational vehicles. Brian Kelly, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, an undisclosed limited liability company, in the transaction. The trio also procured the buyer, GYS Development, which specializes in development and management of self-storage assets. Tim Speck of Marcus & Millichap also assisted in closing the deal.

January 23, 2019

Acquisitions Connecticut Industrial Northeast

Angel Commercial Brokers $4.8M Sale of Industrial Facility in Stamford

by David Cohen January 23, 2019

STAMFORD, CONN. — Angel Commercial has brokered the $4.8 million sale of an industrial facility in Stamford. Located at 72 Camp Ave., the 33,822-square-foot, two-story property is in the Springdale section of Stamford . The two tenants in the building are Building Blocks Learning Center and Upper Deck Fitness. Jon Angel of Angel Commercial represented both the buyer, 132 Jamaica Avenue Realty Corp., and the seller, 72 Camp Avenue LLC.

January 23, 2019

Acquisitions Industrial Massachusetts Northeast

Stubblebine Co. Negotiates $4.4M Sale of Industrial Property in Massachusetts

by David Cohen January 23, 2019

AUBURN, MASS. — The Stubblebine Co. has negotiated the $4.4 million sale of a 75,000-square-foot industrial facility in Auburn. Located at 33 Sword St., the three-acre property was the former Imperial Distributors distribution center before Imperial relocated to its current location in Worcester. David Skinner, David Stubblebine and James Stubblebine of Stubblebine Co. represented the undisclosed seller in the transaction. The buyer was F.W. Webb Co., a wholesale distributor of plumbing, heating, cooling and industrial products. F.W. Webb currently has a location at 43 Sword Street and plans to open a new wholesale store at 33 Sword Street.

January 23, 2019

Development Industrial Midwest Wisconsin

Ashley Capital Breaks Ground on 438,000 SF Industrial Building in Sturtevant, Wisconsin

by Kristin Harlow January 23, 2019

STURTEVANT, WIS. — Ashley Capital has broken ground on the second industrial building at Enterprise Business Park in Sturtevant. The 438,000-square-foot speculative building will be located at 11201 Enterprise Way. Completion is slated for late this year. John Sharpe and Tom Boyle of Lee & Associates and Terry McMahon and Cody Ziegler of Cushman & Wakefield |Boerkewill market the property for lease. Upon build-out, Enterprise Business Park will span 1.3 million square feet. The first building, totaling 376,000 square feet, is now leased to four tenants.

January 23, 2019

Industrial Leasing Activity Midwest Missouri

Würth Baer Supply Co. Signs 66,448 SF Industrial Lease in Kansas City

by Kristin Harlow January 23, 2019

KANSAS CITY, MO. — WürthBaer Supply Co. has signed a 66,448-square-foot industrial lease at 1758 N. Topping Ave. in Kansas City. Founded in 1950, the company is a specialty wholesale distributor to the woodworking industry. The Vernon Hills, Ill.-based company will relocate from its facility at 7440 E. 12th St. in Kansas City. Steven Podolsky of Podolsky Circle CORFAC International represented the tenant, which will take occupancy of the new space in June. Karbank Real Estate Co. assisted Podolsky Circle.

January 23, 2019

Industrial Leasing Activity New York Northeast

NAI Hanson Secures 5,000 SF Industrial Lease in Elmwood Park, New Jersey

by David Cohen January 23, 2019

ELMWOOD PARK, N.J. — NAI James Hanson has secured a 5,000-square-foot industrial lease in Elmwood Park. Located at 475 Mola Blvd., the property includes six loading docks, one drive-in door and 165 parking spaces as well as 7,000 square feet of office space. Jeff DeMagistris, Tom Ryan and Tom Vetter of NAI James Hanson represented the owner, the Stro Cos., in securing the lease with healthcare solutions provider Digirad Corp. Achieve 24 Fitness currently operates 13,000 square feet of the building as a fitness center.

January 23, 2019

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