Industrial

Cushman & Wakefield Arranges Sale of CVS-Leased Distribution Center in Orlando

by Alex Tostado March 12, 2020

ORLANDO, FLA. — Cushman & Wakefield has arranged the sale of a 713,585-square-foot distribution center fully leased to CVS/pharmacy in Orlando. CVS services 500 stores in Florida and Puerto Rico from the facility. The property is situated at 8201 Chancellor Drive, eight miles south of downtown Orlando and nine miles west of Orlando International Airport. The building was originally developed in 1975 and offers 24- to 35-foot clear heights, 97 dock positions, approximately 500 car parking spaces and 429 trailer parking spaces. The seller was a closed-ended fund owned by a Spanish family office and managed by Exan Capital, an independent real estate fund manager. The buyer was PBV Logistics Center LLC, an affiliate of Phoenix-based logistics investor and developer Tratt Properties. Mike Davis, Wayne Ramoski, Rick Brugge, Rick Colon, Jared Bonshire and David Perez of Cushman & Wakefield represented the seller in the transaction.

March 12, 2020

Acquisitions Arkansas Industrial Self-Storage Southeast

AKA Partners Acquires Self-Storage Facility in Metro Memphis for $8.9M

by Alex Tostado March 12, 2020

WEST MEMPHIS, ARK. — AKA Partners LLC has acquired Storage Depot, a climate-controlled self-storage facility in West Memphis, for $8.9 million. The Murray, Utah-based buyer plans to expand the property on the adjacent three acres. Storage Depot is situated at 701 Ark. Highway 77, nine miles west of downtown Memphis. AKA Partners has hired Argus Management to manage the property. Barclays provided acquisition financing. The seller was West Memphis-based DSB, a partnership between David Reagler, Scott Ferguson and LaRand Thomas. Larry Goldman of RE/Max represented the seller in the transaction.

March 12, 2020

Industrial Leasing Activity Texas

Logistics Firm Signs 267,902 SF Industrial Lease Renewal in Metro Dallas

by Taylor Williams March 12, 2020

LEWISVILLE, TEXAS — Kuehne & Nagel, a global transport and logistics firm based in Switzerland, has signed a 267,902-square-foot industrial lease renewal at 1800 Waters Ridge Drive in the northern Dallas metro of Lewisville. Steve Trese and Wilson Brown of CBRE represented the landlord, Teachers Insurance & Annuity of America, in the lease negotiations. Blake Anderson of Savills represented the tenant.

March 12, 2020

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 8,817 SF Industrial Lease in Metro Dallas

by Taylor Williams March 12, 2020

CARROLLTON, TEXAS — Holt Lunsford Commercial has negotiated an 8,817-square-foot industrial lease at 1415-1421 Hutton Drive in the northern Dallas suburb of Carrollton. Josh Barnes and Canon Shoults of Holt Lunsford represented the landlord, Frontier Equity, in the lease negotiations. Michael Haggar of JLL represented the tenant, Aquabella LLC.

March 12, 2020

Acquisitions California Industrial Western

CenterPoint Acquires 1.6 MSF Industrial Property in California’s Inland Empire

by Amy Works March 12, 2020

ONTARIO, CALIF. — CenterPoint Properties has purchased an industrial property located 5600 E. Airport Drive in Ontario. Situated on 94.2 acres, the asset features 1.6 million square feet of industrial space. The acquisition includes a short-term leaseback with the existing tenant. However, CenterPoint plans to market the property for lease in the future. The company intends to leverage the existing improvements and capitalize on a parking ratio five times greater than the market average. The site can accommodate multiple tenants, including a combination of standalone yards. Thad Mallory, Bret Hardy and Jim Linn of Newmark Knight Frank represented CenterPoint in the off-market transaction. Terms of the deal, including seller and acquisition price, were not released.

March 12, 2020

Acquisitions Arizona Industrial Western

Industrial Outdoor Ventures Buys Heavy Industrial Facility in Glendale, Arizona

by Amy Works March 12, 2020

GLENDALE, ARIZ. — Industrial Outdoor Ventures has purchased a heavy industrial facility with storage yard, located at 4800 W. Pasadena Ave. in Glendale. WHAL Properties sold the asset for an undisclosed price. Situated on 4.6 acres, the property includes a 29,625-square-foot industrial service facility with 3,300 square feet of office space and a paved storage yard. The site is fully secured and zoned for a wide range of heavy industrial uses and features heavy three-phase power and 16-foot to 24-foor clear ceiling heights. Additionally, the property is situated near Interstates 10 and 17, less than a mile from the BNSF Intermodal Facility and 12 miles from Phoenix Sky Harbor Airport. Currently, MasTec, a multi-national infrastructure engineering and construction company, occupies the entire property. Kerri Scott and Bob Broyles of Colliers International represented the seller in the deal.

March 12, 2020

Acquisitions California Industrial Western

Sinclair Printing Sells 130,392 SF Industrial Warehouse in Southern California

by Amy Works March 12, 2020

PALMDALE, CALIF. — Sinclair Printing has completed the sale of an industrial warehouse located at 600 W. Technology Drive in Palmdale. Greenlaw Partners acquired the asset for $15 million. Dennis Marciniak and Larry McEwan of DAUM Commercial Real Estate Services completed the transaction. The buyer secured a multi-national technology company as a tenant for the 130,392-square-foot building. Situated on 8.7 acres, the property features ample warehouse space and a total of 15,000 square feet of office, conference room and an overflow storage space. The building features 28-foot clear heights, four dock-high loading doors and refrigeration.

March 12, 2020

Development Industrial New Jersey Northeast

Johnson Development to Build 266,966 SF Industrial Development in Burlington, New Jersey

by Alex Patton March 12, 2020

BURLINGTON, N.J. — Johnson Development Associates will build a 266,966-square-foot warehouse facility in Burlington, a southern suburb of Trenton. The project, which will be branded Exit 5 Distribution Center, will be constructed on a 59.3-acre industrial site located at 107 Elbow Lane. Delivery is scheduled for the fourth quarter. Dan McGovern, Paul Touhey and Drew Green of CBRE represented Johnson Development in the 59.3-acre land acquisition, which closed as an off-market transaction. Seacalco LLC was the seller. The sales price was undisclosed.

March 12, 2020

Acquisitions Industrial Northeast Pennsylvania

NorthBridge Partners Acquires Four-Building Industrial Portfolio in Philadelphia for $25.5M

by Alex Patton March 12, 2020

PHILADELPHIA — NorthBridge Partners has acquired a 281,000-square-foot, four-building portfolio situated on 27.3 acres in Philadelphia for $25.5 million. The assets are located at 2722 Commerce Way, 2801-17 Southampton Road, 2825-45 Southampton Road and 2191 Hornig Road. The properties offer convenient access to the Interstate 95 corridor. At the time of sale, the portfolio was 94 percent leased to 12 tenants including United Natural Foods Inc., Goodman Distribution and the City of Philadelphia. Frank Roddy of Roddy Inc. represented NorthBridge in the transaction. The seller(s) was undisclosed.

March 12, 2020

Industrial Loans Massachusetts Northeast

JLL Arranges $5.6M Loan for Refinancing of Industrial Building in Wilmington, Massachusetts

by Alex Patton March 12, 2020

WILMINGTON, MASS. — JLL has arranged a $5.6 million loan for the refinancing of a light manufacturing industrial building in Wilmington, a northern suburb of Boston. Local bank Webster Five provided the 10-year, fixed-rate loan to the borrower, Boston-based Rhino Capital Advisors LLC. The property, located at 272 Ballardvale St., was constructed in 1976 and features 20-foot clear heights. Brett Paulsrud and Amy Lousararian of JLL arranged the loan.

March 12, 2020

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