Industrial

Pinnacle Storage Acquires 572-Unit Self-Storage Facility in Conroe, Texas

by Taylor Williams November 2, 2018

CONROE, TEXAS — Pinnacle Storage Properties, a self-storage development and investment firm based in the Houston area, has acquired Preferred Mini Storage, a 572-unit facility in Conroe, roughly 40 miles north of Houston. The property was built in 1996 and expanded in 2017. About 76 percent (434) of the units are climate-controlled. Daniel Hartnett of Greysteel arranged a non-recourse bridge loan on behalf of Pinnacle for the acquisition. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, Copra Holdings LLC.

November 2, 2018

Industrial Leasing Activity Midwest Wisconsin

Zilber Property Group Leases Industrial Building to Paasche Airbrush in Kenosha, Wisconsin

by Kristin Harlow November 2, 2018

KENOSHA, WIS. — Zilber Property Group has leased a 42,235-square-foot industrial building to Paasche Airbrush Co. in Kenosha. Located in the Business Park of Kenosha, the recently constructed facility features a clear height of 28 feet and is located near I-94. Established in 1904, Paasche Airbrush is a family-owned and operated manufacturer of artist airbrushes, industrial spray guns and spray booths. Brett Kroner and Keith Puritz of Cushman & Wakefield represented the tenant in the lease transaction. Michael Kleber, Sergio Chapa and Mike Prost of Newmark Knight Frank represented Zilber Property Group.

November 2, 2018

Industrial Loans New Jersey Northeast

Avison Young Secures $21.1M Refinancing for Flex Facility in Allendale, New Jersey

by David Cohen November 1, 2018

ALLENDALE, N.J. — Avison Young has secured a $21.1 million loan to refinance a 114,200-square-foot industrial flex facility in Allendale. Located at 75 Commerce Drive, the property is fully occupied by a tenant roster that includes Hitachi Chemical Advanced Therapeutics Solutions and Telemetrics Inc. George Gnad of Avison Young represented the borrower, a venture between Red Pine Capital Partners and Double Z Management, in securing financing through lender Potomac Business Services. Terms of the financing were not disclosed.

November 1, 2018

Acquisitions Industrial Midwest Minnesota

Summerhill Arranges $8M Sale of Warehouse in Oakdale, Minnesota

by Kristin Harlow November 1, 2018

OAKDALE, MINN. — Summerhill Commercial Real Estate LLC has arranged the $8 million sale of a 109,444-square-foot warehouse in Oakdale, about 20 miles east of Minneapolis. Built in 1998, the property features a clear height of 24 feet, 13 dock doors and one drive-in door. RR Donnelly and Sky Zone fully occupy the property on net leases. Andy Richards and Peter Kordonowyof Summerhill represented the buyer, STAG Industrial Holdings LLC. Mark Young and John Higgins of Crossroads Properties Inc. represented the undisclosed seller.

November 1, 2018

Acquisitions California Industrial Western

Faris Lee Investments Negotiates $1.5M Acquisition of Industrial Property in Costa Mesa

by Amy Works November 1, 2018

COSTA MESA, CALIF. — Faris Lee Investments has arranged the acquisition of an industrial property located within the Mesa West Bluffs Urban Redevelopment Plan in Costa Mesa. A private investor purchased the property for $1.5 million. Thomas Chichester, Joseph Chicester and Matt Brooks of Faris Lee represented the buyer, while Lee & Associates represented the undisclosed seller in the deal. Built in 1961 and located at 789 W. 20th St., the multi-tenant property features 5,228 square feet of industrial space.

November 1, 2018

Acquisitions Illinois Industrial Lee & Associates Midwest

Lee & Associates Negotiates $7M Sale of Industrial Building in Tinley Park, Illinois

by Kristin Harlow October 31, 2018

TINLEY PARK, ILL. — Lee & Associates has negotiated the $7 million sale of an 84,388-square-foot industrial building in Tinley Park, about 30 miles south of Chicago. The property is located at 8201 W. 183rd St. Terry Grapenthin, Jeff Galanteand Ryan Earley of Lee & Associates represented the buyer, 7600 Grant BR LLC. The seller was not disclosed. The property was 80 percent leased at the time of sale.

October 31, 2018

Development Industrial Maryland Southeast

CREG Breaks Ground on 350,000 SF Speculative Industrial Development Near Baltimore

by Amy Works October 31, 2018

HARFORD COUNTY, MD. — Chesapeake Real Estate Group (CREG), on behalf of TA Realty, has broken ground on a two-building warehouse/industrial project within Trimble Road Business Park in the Edgewood submarket of Harford County, approximately 30 miles northeast of Baltimore. Having acquired the site from CREG in 2018, TA Realty is moving forward with the construction of a 210,000-square-foot speculative facility at 102 Fulfillment Drive and a 140,450-square-foot building at 103 Fulfillment Drive. AGCO, a designer, manufacturer and distributor of agriculture equipment and solutions, has preleased 50,000 square feet of space within 103 Fulfillment Drive, representing 35 percent of the building’s capacity. Slated for delivery in 2019, both buildings will feature concrete tilt-up construction, 32-foot clear ceiling heights and 7-inch unreinforced concrete floor slabs to accommodate heavy loads. The facility at 102 Fulfillment Drive will feature 18 dock doors and two drive-in doors.

October 31, 2018

Acquisitions Development Industrial Kentucky Self-Storage Southeast

Ziff Properties Acquires Warehouse in Lexington for Self-Storage Conversion

by Amy Works October 31, 2018

LEXINGTON, KY. — Ziff Properties has purchased the former Golden Burley Tobacco Warehouse and Building Materials Warehouse located on Angliana Avenue in Lexington for an undisclosed price. Fred Pfister of Silvestri Craig Realtors facilitated the transaction. The name of the seller and sales price were not released. Ziff Properties plans to convert the property, which is situated on 3.5 acres, into a Class A self-storage facility with 103,500 square feet of climate- and non-climate-controlled units. CubeSmart Self Storage will manage the asset.

October 31, 2018

Acquisitions Industrial Kentucky Southeast

Brennan Investment Buys 194,519 SF Industrial Facility in Louisville for Sale-Leaseback Deal

by Amy Works October 31, 2018

LOUISVILLE, KY. — Brennan Investment Group has acquired an industrial property located at 1300 W. Park Road in the Bullitt submarket of Louisville. Concurrent with the acquisition, the 194,519-square-foot property was leased back to the seller, a joint venture between Westfall Technik and a client of Arch Street Capital Advisors. The building is fully occupied by Amaray, a specialized global plastic packaging company, which was simultaneously acquired by Westfall Technik. Amaray has occupied the property since 2003.

October 31, 2018

Acquisitions Industrial Texas

Meritex Purchases 121,520 SF Light Industrial Building in Houston

by Taylor Williams October 31, 2018

HOUSTON — The Meritex Co., a Minnesota-based investment firm, has purchased Park 225, a 121,520-square-foot light industrial building located at the interchange of Highway 225 and Beltway 8 in Houston. The property was fully leased to four tenants at the time of sale. Tom Lynch of CBRE brokered the deal. Stream Realty Partners will manage the property. With this acquisition, Meritex now owns more than 500,000 square feet of industrial space in the metro Houston area.

October 31, 2018

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