Industrial

Centerpointe-Commerce-Center-Moreno-Valley-CA

Rockefeller Group, Newcastle Partners Break Ground on 203,944 SF Distribution Center in Inland Empire

by Amy Works September 25, 2019

MORENO VALLEY, CALIF. — Rockefeller Group has broken ground on Centerpointe Commerce Center, a speculative distribution center situated on 8.8 acres of industrial land in Moreno Valley. The 203,944-square-foot facility is slated for completion in summer 2020. Located on Frederick Street, the dock-high industrial building will feature 32-foot clear heights, 8,000 square feet of speculative office improvements, 106 auto-parking stalls and 26 trailer-parking stalls. Additionally, the property will offer access to several Southern California freeways, including Interstate 215, State Route 60, State Route 90 and Interstate 10. Rockefeller Group acquired the site from Newcastle Partners in April. Newcastle pursued the required governmental approvals for the projects beginning in October 2017, and the company successfully obtained the entitlements and zoning just prior to Rockefeller Group’s acquisition. Rockefeller Group and Newcastle selected Newport Beach, Calif.-based RM Dalton as general contractor, Herdman Architecture + Design as architect and SDH & Associates as civil engineer. Bill Heim, Finn Comer, Alex Heim and Nesha Ritchie of Lee & Associates are the exclusive leasing agents for Centerpointe Commerce Center.

September 25, 2019

Florida Georgia Industrial Loans Self-Storage Southeast

Talonvest Capital Secures $123.3M Refinancing for Self-Storage Portfolio in Three States

by Alex Tostado September 24, 2019

IRVINE, CALIF. — Irvine-based Talonvest Capital Inc. has secured two refinancing loans totaling $123.3 million on behalf of Metro Self Storage. Lake Forest, Ill.-based Metro Self Storage will use the loan proceeds to refinance existing debt on eight properties in Georgia, 12 properties in Florida and two properties in Illinois. The portfolio totals more than 1.5 million square feet of rentable space. The two non-recourse loans feature a fixed 3.2 percent interest rate and 10 years of interest-only payments. An undisclosed national bank provided the funds.

September 24, 2019

Acquisitions Industrial Texas

Bradford Commercial Negotiates Sale of 38,500 SF Warehouse in Dallas

by Taylor Williams September 24, 2019

DALLAS — Bradford Commercial Real Estate Services has negotiated the sale of a 38,500-square-foot warehouse located within Lone Star Park in Dallas. The property, which is situated on 1.9 acres and built in 1984, was vacant at the time of sale. Brock Wilson and Joe Santaularia of Bradford Commercial represented the seller, SL4 DFW Industrial LP. Drew Feagin of Stream Realty Partners represented the buyer, First American Exchange Co. Inc.

September 24, 2019

Acquisitions California Industrial Western

JJRE Properties Sells 14,380 SF Industrial Building in California for $2.7M

by Amy Works September 24, 2019

CORONA, CALIF. — JJRE Properties has completed the disposition of an industrial building in Corona. An undisclosed buyer acquired the property for $2.7 million. Located at 508 Bateman Circle, the property features 14,380 square feet of industrial space. Greg Diab of Lee & Associates’ Orange, Calif., office represented the seller in the deal.

September 24, 2019

Acquisitions Industrial New York Northeast Self-Storage

Clutter Acquires The Storage Fox Self-Storage Portfolio in New York for $152M

by Alex Patton September 24, 2019

NEW YORK — National self-storage investment firm Clutter has purchased The Storage Fox, a smaller self-storage firm based in New York, acquiring four-property self-storage portfolio in for $152 million. The acquisition included 5,240 storage units across four properties located at 5601 Foster Ave. in Brooklyn; 3046 Northern Blvd. in Long Island City; 1 Holland Ave. in White Plains; and 280 Fullerton Ave. in Yonkers. Combined, the properties comprise approximately 500,000 square feet with a rentable area of 320,000 square feet.

September 24, 2019

Industrial Leasing Activity New Jersey Northeast

CBRE Negotiates 30,000 SF Industrial Lease in East Orange, New Jersey

by Alex Patton September 24, 2019

EAST ORANGE, N.J. — CBRE has negotiated a 30,000-square-foot industrial lease in East Orange, a western suburb of New York City. Prime Global Solutions, a quality supplier and manufacturer of bulk materials, will occupy the warehouse and distribution center beginning in October. ABC Supply Co. occupies the other half of the 60,000-square-foot facility. Lou Belfer and Scott Belfer of CBRE represented the landlord, J.G. Petrucci, in the lease negotiations. Monica Franco and Priscilla Teixeira of Commercial Realty Partners represented Prime Global Solutions.

September 24, 2019

Acquisitions Industrial North Carolina Southeast

CBRE|Raleigh Arranges Sale of Two Industrial Buildings Totaling 513,787 SF in Opportunity Zone

by Alex Tostado September 23, 2019

RALEIGH, N.C. — CBRE|Raleigh has arranged the sale of Beltline Center, a two-building, 513,787-square-foot industrial center in Raleigh. The buildings offer warehouse and flex space and were 62 percent leased at the time of sale to tenants including UPS, Iron Mountain and Andrew & Hamilton Co. Inc. Beltline Center is located within an Opportunity Zone on 30.8 acres, two miles from downtown Raleigh. Ben Kilgore, Butch Miller, Ann-Stewart Patterson, Chandler Hawkins and Leslie Holmes of CBRE|Raleigh, along with the BPG Management team of Ken Pennington and Mike Green, represented the seller, Equus Capital Partners, in the transaction. New York City-based LM Real Estate Partners acquired the property.

September 23, 2019

Industrial Leasing Activity New Jersey Northeast

Josmo Shoes Inks 26,000 SF Industrial Lease in Carlstadt, New Jersey

by Alex Patton September 23, 2019

CARLSTADT, N.J. — Josmo Shoes has signed a 26,000-square-foor industrial lease in Carlstadt, a northwestern suburb of New York City. The building at 75 Triangle Blvd. features three loading docks and 18-foot ceiling heights. Josmo will use the property as a secondary warehouse and distribution center to support its New York headquarters. Shawn Roth, David Cantor and Greg Sholom of Team Resources Inc. represented Josmo in the lease negotiations.

September 23, 2019

Industrial Leasing Activity Michigan Midwest

Crane Worldwide Logistics Signs 136,500 SF Industrial Lease in Romulus, Michigan

by Kristin Harlow September 23, 2019

ROMULUS, MICH. — Crane Worldwide Logistics has signed a 136,500-square-foot industrial lease in Romulus. The property is located at 10725 Harrison Road. The company is an international logistics firm with 120 locations in 30 countries. Peter Rogers of CBRE represented the tenant in the lease transaction. Randall Allman of CBRE represented the owner, AEW Capital Management.

September 23, 2019

Acquisitions Industrial Midwest Minnesota

NKF Brokers $4.3M Sale of Industrial Building in Minnesota

by Kristin Harlow September 23, 2019

WYOMING, MINN. — Newmark Knight Frank (NKF) has brokered the $4.3 million sale of a 99,282-square-foot industrial building in Wyoming, about 35 miles north of Minneapolis. The property is located at 5240 257th St. Dan Friedner, Jay Chmieleski and Patrick Cullen of NKF represented the buyer, Kirvida Holdings Inc., and the seller, U.S. Small Business Administration.

September 23, 2019

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