HOUSTON — Lee & Associates has arranged the sale of a 22,738-square-foot industrial property located at 5999 W. 34th St. in Houston. Chase Cribbs and Justin Cole of Lee & Associates represented the undisclosed buyer in the transaction. Joshua Lass-Sughrue and Jason Ridenbaugh of NAI Partners represented the seller, 600 Southwest Military Ltd.
SUNNYVALE AND FREMONT, CALIF. — Levin Johnston of Marcus & Millichap has brokered the sales of two self-storage facilities in Sunnyvale and Fremont, totaling $27.8 million. Adam Levin of Levin Johnston and Jacob Becher of Marcus & Millichap represented the seller and buyers in each transaction. In the first transaction, a multifamily investor acquired a 517-unit Lock It Up Self-Storage, located at 220 W. Ahwanee Ave. in Sunnyvale. Lock It Up Self-Storage sold the property for $15.5 million. Built in 1987, the property offers 44,781 net rentable square feet and was 97 percent occupied at the time of sale. In the second deal, a high-net-worth individual purchased a 637-unit Lock It Up Self-Storage property located at 38491 Fremont Blvd. in Fremont. Constructed in 1986, the property offers a total of 54,550 net rentable square feet and six RV parking spaces. At the time of sale, the property was 94 percent occupied.
SAN DIEGO — Carleton Management has completed the sale of an industrial asset located in downtown San Diego’s East Village. A wholly owned subsidiary of Shapery Enterprises acquired the asset for $7 million. The transaction includes a vacant, 12,000-square-foot historical building at 1460 Island Ave. and an 11,000-square-foot light industrial building at 1490 Island Ave. The historic building dates backs to 1907 and was the former Electric Laundry Co. site. The buyer plans to restore the historic building and reposition it for a commercial tenant. The adjoining light industrial building is currently occupied by Crossfit Fortius and Urbana Design Build, a general contractor. Kevin Mulhern and Rachel Parsons of the CBRE Multifamily team represented the seller, while the buyer was self-represented in the transaction.
NEWFIELD, N.Y. — Marcus & Millichap has negotiated the $3.4 million sale of Sunny’s Self Storage, a 49,550-square-foot self-storage facility in Newfield, south of Ithaca in the Finger Lakes region. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a personal trust, in the transaction. The buyer was a limited liability company. Located at 1273 W. Danby Road, the property includes a mix of climate-controlled and non-climate-controlled units. The facility was built in 2008 and renovated in 2016.
AUSTIN, TEXAS — 3M, the Minnesota-based manufacturer best known for office products like Post-It notes and Scotch tape, will close its 220,000-square-foot plant in north Austin by the end of 2019. The property will be marketed for sale once it closes. According to the Minneapolis Star Tribune, the closing will impact approximately 120 jobs, though laid-off employees can apply for positions at 3M in other locations.
FORT WORTH, TEXAS — Dematic, an Atlanta-based provider of technology and software for supply chain operators, will open a new, build-to-suit distribution center in Fort Worth. The center will be used to store, sequence and ship company equipment, modules and components. Colliers International provided site selection services, and TCRG Properties and Ironwood Realty Partners are developing the property. The opening is slated for the second quarter of 2019.
ARLINGTON, WASH. — iBorrow, a nationwide private direct lender for commercial real estate, has funded a $10.2 million loan for an industrial building in Arlington, approximately 45 miles north of Seattle. The borrower group plans to use the proceeds to fund the value-add component of the property. The 244,590-square-foot property, which features 16,108 square feet of office space, was 84 percent leased at the time of financing.
LAS VEGAS — RealComm Advisors has arranged the purchase of an industrial property located within the Martin Hinson Business Center at 6683 Schuster St. in Las Vegas. Tabs Realty acquired the property for $1.7 million. Greg Pancirov and Mike De Lew of RealComm Advisors represented the buyer in the deal.
ALSIP, ILL. — Dayton Street Partners, together with an institutional investor, has acquired a 172,000-square-foot logistics facility in Alsip for $31.5 million. The seller, Experior Transport, will lease back the building for the next 15 years. The property features 100,376 square feet of warehouse space with a clear height of 32 feet, 69 dock doors and one drive-in door. There is also a 30,000-square-foot truck maintenance facility with 12 drive-in doors and 41,624 square feet of office space. Joshua Hearne of Cawley Chicago represented the buyer. Robin Stolberg, Kurt Sarbaugh, Steve Skok and Sam Berry of HFF arranged acquisition financing on behalf of Dayton Street.
GRAND HAVEN, MICH. — Brennan Investment Group LLC has purchased a 90,121-square-foot industrial property in Grand Haven, about 33 miles west of Grand Rapids. The purchase price was not disclosed. The property serves as the headquarters and manufacturing facility for Lakeshore Fittings, which specializes in brass and aluminum machined components and fittings. The tenant has occupied the facility since its completion in 1989. The seller was not disclosed.