Industrial

Cushman & Wakefield Arranges Sale-Leaseback of Industrial Facility in Parsippany

by David Cohen October 30, 2018

PARSIPPANY, N.J. — Cushman & Wakefield has arranged the sale and leaseback of a 540,103-square-foot industrial facility in Parsippany. The sales price was undisclosed. Located at 100 Jefferson Road, the property currently serves at the global headquarters for the seller, PNY Technologies. Gary Gabriel, Kyle Schmidt, Andrew Merin, David Bernhaut, Brian Whitmer and Ryan Larkin of Cushman & Wakefield represented PNY Technologies in the transaction. The buyer was a joint venture between Turnbridge Equities and Harbor Group International. PNY Technologies leased back approximately 25 percent of the building on a long-term basis, leaving 400,000 square feet of industrial space for Turnbridge Equities to rent. Turnbridge and HGI have commenced a $4.5 million capital improvement program at the facility that will include new parking and loading areas, new office space and building entrances, as well as new mechanical systems.

October 30, 2018

Industrial Leasing Activity Texas

Newsom Design Extends 119,083 SF Industrial Lease in Metro Dallas

by Taylor Williams October 30, 2018

FARMERS BRANCH, TEXAS — Newsom Design LLC, which produces building signage and other marketing materials, has extended its 119,083-square-foot industrial lease at 13780 Benchmark Drive in Farmers Branch, a northern suburb of Dallas. Blake Kendrick of Stream Realty Partners represented the landlord, DRA Advisors, in the lease negotiations. Landry Commercial Inc. represented the tenant.

October 30, 2018

Florida Industrial Loans Office Southeast

NorthMarq Capital Arranges $24M Refinancing for 311,287 SF Flex Property in Melbourne, Florida

by Amy Works October 30, 2018

MELBOURNE, FLA. — NorthMarq Capital has secured the $24 million refinancing of an office and manufacturing property located at 100 N. Babcock St. in Melbourne. Leonardo DRS Inc. occupies the 311,287-square-foot facility. The company is a developer of mission-critical products and services that support military forces, intelligence agencies and prime contractors. Robert Hernandez and Lauren Hanley of NorthMarq’s Tampa office arranged the 11-year loan through an unnamed life insurance company.

October 30, 2018

Acquisitions Georgia Industrial Self-Storage Southeast

Ackerman Sells 105,800 SF Warehouse in Metro Atlanta for $5.3M, Buyer Planning Self-Storage Conversion

by Amy Works October 30, 2018

TUCKER, GA. — Ackerman & Co. has sold an industrial building, located at 2232 Mountain Industrial Blvd. within Stone Mountain Industrial Park in Tucker. Mequity Cos. purchased the property for $5.3 million. The buyer, an Atlanta-based real estate development and investment firm, is redeveloping the 105,800-square-foot warehouse into a build-to-suit project for CubeSmart. The climate-controlled self-storage facility is slated for completion by year’s end. Brett Buckner, Jimmy Stevens and Major Martin of Ackerman & Co. provided in-house representation for the seller. Ackerman & Co. originally acquired the 4.1 million-square-foot Stone Mountain industrial portfolio in 2015.

October 30, 2018

Acquisitions California Industrial Western

IDS Real Estate Group Buys 544,864 SF Industrial Portfolio in San Diego

by Amy Works October 30, 2018

SAN DIEGO — An affiliate of IDS Real Estate Group has purchased a four-building industrial portfolio within Siempre Viva Business Park in San Diego’s Otay Mesa submarket, for an undisclosed price. Situated on 28.1 acres, the 99 percent-leased portfolio is located at 8690 Kerns St., 2660 Sarnen St. and 8863 and 9043 Siempre Viva Road. Totaling 544,864 square feet, the properties feature 24- to 32-foot clear heights, wide truck courts, loading via 98 dock-high and 14 grade-level doors, an above-standard parking ratio, and low office built-out. The properties were originally constructed between 2001 and 2003. Nick Frasco, Nick Psyllos and Andrew Briner of HFF represented the undisclosed seller in the deal.

October 30, 2018

Development Indiana Industrial Midwest

CT Realty Buys 95-Acre Land Site Near Indianapolis for Development of 1 MSF Industrial Building

by Kristin Harlow October 30, 2018

WHITESTOWN, IND. — CT Realty has purchased a 95-acre land site in Whitestown, about 20 miles northwest of Indianapolis. The purchase price was not disclosed. The developer plans to build a 1 million-square-foot building. Project costs are estimated at $50 million. CT acquired the land from GDI Cos., which is the master planner for the surrounding Crossroads Logistics Center. The project will be situated within a one-day drive of 57 percent of the U.S. population, according to CT. Completion is slated for late 2019. Terry Busch of CBRE represented GDI, which will serve as general contractor via its subsidiary GDI Construction. Busch is also handling lease-up of the building.

October 30, 2018

Acquisitions Illinois Industrial Midwest

Green Door Capital, Citimark Purchase 447,059 SF Industrial Portfolio in Metro Chicago for $38M

by Kristin Harlow October 30, 2018

CHICAGO — A partnership between Green Door Capital and Citimark Inc. has purchased a seven-property industrial portfolio in metro Chicago for $38 million. The properties, totaling 447,059 square feet, include: 5120 Prairie Stone Parkway in Hoffman Estates; 1124 Tower Road and 1555-1559 Brasswood Road in Schaumburg; 3225 Corporate Drive and 3301-3301 Corporate Drive in Joliet; 454 Scott Drive in Bloomingdale; and 3720 Prairie Lake Court in Aurora. At the time of sale, the portfolio was 93 percent leased to 10 different tenants. Kurt Sarbaugh, Robin Stolberg, Stephen Skok and Sam Berry of HFF marketed the portfolio on behalf of the seller, Globe Corp.

October 30, 2018

Acquisitions Data Centers Industrial Midwest Ohio

Romans Properties Brokers $9.3M Sale of Data Center in Canton, Ohio

by Kristin Harlow October 30, 2018

CANTON, OHIO — Romans Properties has brokered the sale of a 30,000-square-foot data center in Canton for $9.3 million. The property, located at 4726 Hills and Dales Road, is fully leased to Secure Data 365. Chriss Orr of Romans represented the buyer, an institutional client. The seller was not disclosed.

October 30, 2018

Acquisitions Industrial Northeast Pennsylvania

Markward Group Brokers Sale of 20,096 SF Industrial Building in Pennsylvania

by David Cohen October 29, 2018

EASTON, PA. — Markward Group has brokered the sale of a 20,096-square-foot industrial building in Easton. The sales price was undisclosed. The property is located at 1298 Spruce St. Matt Macdonald of Markward Group represented the seller, Ealer Realty Corp., in the transaction. VM Realty Group represented the buyer, GLCJ Holdings LLC. The building was the former location of Ealer Electric and United Electric Supply.

October 29, 2018

Industrial Leasing Activity Texas

Door Manufacturer Signs 172,120 SF Industrial Lease in Irving

by Taylor Williams October 29, 2018

IRVING, TEXAS — Chase Industries, a Cincinnati-based manufacturer of custom traffic doors, has signed a 172,120-square-foot industrial lease within Liberty Park GSW in Irving. The company will occupy all of Building 1, the shell construction of which is expected to be complete this week. Kurt Griffin, Nathan Orbin and David Eseke of Cushman & Wakefield represented the landlord, Liberty Property Trust, in the lease negotiations. Colliers International represented Chase Industries.

October 29, 2018

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