O’FALLON, MO. — Colliers International has brokered the sale of a 37,500-square-foot industrial building in O’Fallon, about 37 miles northwest of St. Louis. The sales price was undisclosed. Permian Plastics, a manufacturer of plastic injection molding, occupies the property, which is located at 1477 Hoff Industrial Drive. Chad Burkemper, Joseph Hill and Geoff Orf of Colliers represented the seller, Permian Holdings Inc. The buyer was GK2-Hoff LLC.
IRVING, TEXAS — Marcus & Millichap has arranged the sale of Walnut Hill Business Park II, a 28,339-square-foot industrial building located at 1600 Corporate Court in Irving. Built in 1982, the property is situated on two acres about 13 miles west of Dallas. The buyer and seller were both private investors. Adam Abushagur of Marcus & Millichap represented the seller and procured the buyer in the transaction.
OKLAHOMA CITY — CBRE has arranged a 56,000-square-foot industrial lease at 3100 N. Meridian Ave. in Oklahoma City. The tenant, Made by Influence LLC, leased the space from landlord USA Prop Management LLC. Randy Lacey of CBRE’s Oklahoma City office represented the landlord in the lease negotiations.
AUSTIN, TEXAS — Stonelake Capital Partners has closed on the purchase of an 18-building industrial portfolio in Austin totaling nearly 530,000 square feet. The seller was the McWane Family of Cos., an iron products manufacturer based in Birmingham, Ala. Stonelake Capital purchased the portfolio for an undisclosed price in an off-market transaction via its Stonelake Opportunity Partners V LP fund. Stonelake Capital is now one of the largest industrial landlords in Austin, with a 25-building portfolio spanning more than 850,000 square feet. Travis Eickenhorst and Cole Wilson lead the company’s Austin investment strategy.
ORLANDO, FLA. — Dalfen Industrial has acquired a 243-acre undeveloped parcel in Orlando, where the company plans to build a 2.8 million-square-foot speculative industrial project. The Class A asset will be situated along State Road 417 near the interchange with Lee Vista Boulevard and Orlando International Airport. Dalfen plans to construct multiple facilities on the site, ranging from 100,000 to 1.5 million square feet. Total construction could exceed 3 million square feet when all phases are complete, according to the developer. The first building is scheduled for completion in the fourth quarter of 2021. The seller and price of the vacant property were undisclosed. “With this project, Dalfen Industrial is satisfying a strong need in Orlando, as there are a limited number of development projects in our market geared toward bulk users,” says Jared Bonshire of Cushman & Wakefield, who represented Dalfen in the land sale transaction. “While there are projects of this scale along the I-4 Corridor in Davenport, Apopka and Lakeland, this development is the first of its kind for Orlando.” Dalfen Industrial is a Dallas-based buyer of industrial real estate, primarily focused on strategically located urban infill warehouses and distribution buildings. The developer recently acquired a 1.9 …
GILBERT, ARIZ. — CBRE has arranged the sale of a flex industrial and office building located at 1145 W. Gary Road in Gilbert. Martinsburg, Pa.-based Curry Supply Co. acquired the property from Edmonton, Alberta-based Silent-Aire. Curry Supply, a manufacturer and dealer of commercial service vehicles, will occupy the building, which serve as its fifth U.S. location and first Arizona location. Situated on 3.16 acres, the two-story, 55,392-square-foot building features 10,000 square feet of office space that includes offices, conference rooms, open bullpen areas, break rooms, restrooms and a dedicated server room. The remaining industrial space features an evaporate-cooled warehouse with LED lighting throughout, 24-foot clear ceiling heights, five grade-level doors, two truck wells and existing five-ton and one-ton cranes. Additionally, the property offers 72 parking spaces. Rusty Kennedy, Pat Feeney, Dan Calihan and James Cohn of CBRE in Phoenix represented the seller, a global manufacturer of HVAC equipment and modular data centers, in the transaction.
VISTA, CALIF. — JLL has brokered the sale of an industrial building located at 1330 Park Center Drive in Vista. Sunny Harvest LLC acquired the property from Park Center Holdings for $4.5 million, or $199 per square foot. Chris Baumgart and Steven Field of JLL’s North County San Diego team represented the seller in the transaction. The 22,356-square-foot, freestanding building features 24-foor clear heights, dock- and grade-level loading and solar panels. At the time of sale, the property was partially occupied by Thirty-Third Threads, an affiliate of the seller. The tenant plans to lease back its space.
THE COLONY, TEXAS — Marcus & Millichap has brokered the sale of Riverview Business Center, a 46,250-square-foot industrial building located at 1671 Riverview Drive in The Colony. Situated on a four-acre parcel, the property was built in 2006 and renovated in 2010. Adam Abushagur of Marcus & Millichap’s Dallas office represented the seller, a private investor, in the transaction. Abushagur also procured the buyer, a private investor based in California that used the 1031 program.
DELTONA, FLA. — Amazon has unveiled plans for a new fulfillment center in Deltona, a city situated nearly 30 miles northeast of Orlando. Atlanta-based Seefried Industrial Properties will develop the more than 1 million-square-foot fulfillment center near Interstate 4, where large items will be picked packaged and shipped. Items will include sports equipment, patio furniture, pet food and large household goods. Amazon is expected to create more than 500 new jobs in Deltona. A timeline for construction of the Deltona facility was not disclosed. Currently, Amazon operates facilities in and around Orlando, Miami, Tampa and Jacksonville.
BLOOMINGTON, CALIF. — ASB Real Estate Investments, on behalf of its Allegiance Real Estate Fund, has acquired Bloomington Logistics Center, a warehouse and distribution building in Bloomington. Crow Holdings Industrial, the industrial development division of Dallas-based Crow Holdings, sold the asset for $100.5 million. Completed in 2019, Bloomington Logistics Center features 36-foot clear heights, ESFR sprinklers, 185-foot wide truck courts, three percent skylights, LED lighting, 4,000-amp electrical service, ample parking spaces, low office finish, 118 dock-high doors and four grade-level doors. Newgistics, the e-commerce arm of Pitney Bowes, occupies the 677,383-square-foot, cross-dock building on a triple-net lease basis. Situated on 34.5 acres at 11260 Cedar Ave., the property offers immediate access to Interstates 10, 15 and 60, as well as proximity to both the Ontario International Airport and the BNSF Intermodal Container Facility. Mark Detmer, Bo Mills and Ryan Sitov of JLL Capital Markets represented the seller in the deal.