Industrial

CBRE Negotiates $22.2M Sale of Airport Way Industrial Park in Portland

by Amy Works October 2, 2018

PORTLAND, ORE. — CBRE has brokered the sale of Airport Way Corporate Park, an industrial park located at 12021 NE Airport Way, 12067 and 12055 NE Glenn Widing in Portland. An undisclosed buyer acquired the property from Airport Way LLC for $22.2 million. Constructed between 1992 and 2008, the 140,693-square-foot property comprises three buildings featuring full sprinkler systems, dock-high and grade-level loading, abundant parking, above-standard parking and high visibility from Airport Way. At the time of sale, the park was 95 percent leased to 15 tenants. Cara Nolan of CBRE’s Portland office and Barbara Emmons of CBRE National Partners represented the seller in the deal.

October 2, 2018

Acquisitions Industrial Texas

Cohen Asset Management Acquires Two Industrial Assets Totaling 1.3 MSF in Dallas

by Taylor Williams October 2, 2018

DALLAS — Southern California-based Cohen Asset Management Inc. has acquired two industrial assets totaling approximately 1.3 million square feet within Pinnacle Industrial Park in Dallas. The first property, a 1 million-square-foot bulk distribution building, features 178 exterior docks, six drive-in doors and 32-foot ceiling heights. The second property, a 327,600-square-foot warehouse, includes 62 exterior docks, three drive-in doors and 30-foot ceiling heights. Both assets were built in 2001. Steve Rowland of Transwestern represented Cohen in the acquisition from an undisclosed seller.

October 2, 2018

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Arranges Sale of 211,086 SF Manufacturing Facility in Houston

by Taylor Williams October 2, 2018

HOUSTON — Lee & Associates has arranged the sale of a 211,086-square-foot manufacturing facility located at 12218 Robin Blvd. in Houston. According to LoopNet Inc., the property was built in 1964 and features 10-foot clear heights as well as 10 drive-in, grade-level doors. Justin Tunnell of Lee & Associates represented the seller, Admiral Glass Co., in the transaction. Joseph Berwick and Richard Quarles of JLL represented the buyer, IFP-II LLC.

October 2, 2018

Industrial Market Reports Nevada Western Western Market Reports

Opportunity, Demand Define Las Vegas Industrial Market

by Taylor Williams October 2, 2018

The Las Vegas industrial sector set records in 2017, with more new construction and higher net absorption than any other time in the market’s history. New construction was dominated by pre-leased space primarily driven by transportation and logistics companies, namely ecommerce and retail-related businesses. As a result, the overall vacancy rate decreased to the second lowest level in market history. As a percentage of overall market size, Las Vegas led the country in both new construction and net absorption. The significant momentum of 2017 did carry over to the first quarter of 2018, albeit at a relatively slower rate. New construction totaled 1.3 million square feet and net absorption lagged deliveries at a positive 1 million square feet, marking the 22nd consecutive quarter of positive net absorption. The overall direct vacancy rate in the first quarter of 2018 was 4 percent, an increase of 50 basis points over the previous quarter. This provided much-needed inventory for tenants looking to enter or expand into the Las Vegas market. While the North Las Vegas submarket dominated 2017, accounting for nearly 70 percent of total net absorption, it is the Southwest submarket that is surging in 2018 with 53 percent of net absorption …

October 2, 2018

Acquisitions Industrial Self-Storage Texas

Colliers Brokers Sale of 186-Unit Self-Storage Facility in Arlington

by Taylor Williams October 1, 2018

ARLINGTON, TEXAS — Colliers International has brokered the sale of Arlington Stor-More, a 186-unit self-storage facility located at 2932 W. Division St. in Arlington. The property features 41,178 net rentable square feet and includes an additional 2.5 acres of land for future expansion. Richard Minker and Chad Snyder of Colliers International represented the undisclosed seller in the transaction. The buyer was also not disclosed.

October 1, 2018

Acquisitions Industrial Texas

NAI Partners Negotiates Sale of 20,500 SF Industrial Property in Houston

by Taylor Williams October 1, 2018

HOUSTON — NAI Partners has negotiated the sale of a 20,500-square-foot industrial property located at 4750 Windfern Road in Houston. According to LoopNet Inc., the property was built in 2008 and includes 110-foot truck court depths, 28 parking spaces and two grade-level overhead doors. Jake Wilkinson of NAI Partners represented the buyer, Himmel’s Architectural Door & Hardware, in the transaction.

October 1, 2018

Acquisitions Florida Industrial Southeast

Charles Wayne Properties Acquires Five-Building Industrial Property in Sanford, Florida for $9.6M

by Amy Works October 1, 2018

SANFORD, FLA. — Charles Wayne Properties has purchased Monroe CommerCenter South, a five-building industrial/flex campus located on 8.5 acres in Sanford, a Florida town in north Seminole County. Miami-based Monroe South RE LLC sold the asset for $9.6 million. Totaling 116,500 rentable square feet, the five buildings are located at 627-655 Progress Way, 663-691 Progress Way, 703-739 Progress Way, 4141-4186 Incubator Court and 4140 Flex Court. Built in 2013, Monroe CommerCenter South features office and warehouse space with grade-level roll-up doors. Ron Rogg and Chip Wooten of CBRE represented the seller in the deal. Charles Wayne Investment Management will handle asset and investment management functions for the property and its investors.

October 1, 2018

Acquisitions Illinois Industrial Midwest

Entre Commercial Brokers Sale-Leaseback of 122,048 SF Industrial Facility in Lake Zurich, Illinois

by Kristin Harlow October 1, 2018

LAKE ZURICH, ILL. — Entre Commercial Realty has brokered the sale-leaseback of a 122,048-square-foot industrial facility in Lake Zurich. Brian Bocci of Entre represented the buyer, Exeter Property Group. Kris Keller of Keller Williams represented the seller, 1300 Rose Road LLC. The seller plans to lease back approximately 65 percent of the building on a long-term lease. The remaining portion of the property has another tenant in place. Built in 2005, the property features a clear height of 28 feet.

October 1, 2018

Acquisitions Industrial Midwest Wisconsin

Founders 3 Brokers $1.7M Sale of Industrial Building in New Berlin, Wisconsin

by Kristin Harlow October 1, 2018

NEW BERLIN, WIS. — Founders 3 Real Estate Services has brokered the sale of Western Racquet Club’s 58,320-square-foot industrial building in New Berlin for $1.7 million. An affiliate of Milwaukee investor LCM Funds Real Estate LLC purchased the property with plans to renovate and re-lease the building. UNITS Moving and Portable Storage will partially occupy the facility. Brett Deter of Founders 3 represented the buyer and lessee.

October 1, 2018

Acquisitions California Industrial Top Stories Western

RAF Pacifica Group Sells 1 MSF Industrial Portfolio in Metro San Diego for $170M

by Taylor Williams October 1, 2018

CARLSBAD, VISTA, SAN MARCOS AND TEMECULA, CALIF. — RAF Pacifica Group has completed the disposition of a 12-asset industrial portfolio in San Diego County. An undisclosed buyer acquired the properties for $170 million. Totaling more than 1 million square feet, the portfolio consists of institutional-quality assets in the southern California cities of Carlsbad (3261, 3266 and 3193 Lionshead Ave. and 2281 Las Palmas); Vista (1125 Joshua Way, 1385 Park Center Drive, 2641 and 2651 La Mirada Drive); San Marcos (120 Mata Way, 195 Bosstick Blvd., and 2946, 2950 and 2954 Norman Strasse Road); and Temecula (26201 Ynez Road and 42259 Rio Nedo Road). The Class A properties feature highly efficient warehouse designs and loading capabilities, low office build-out percentages, expansive clear heights and strategic layouts for parking, loading and truck traffic flow. Aric Starck of Cushman & Wakefield’s San Diego office represented the seller, while the buyer was self-represented in the transaction. “The RAF portfolio incorporates a remarkable mix of existing core assets, fully renovated warehouse/distribution centers, as well as newly developed, state-of-the-art projects,” said Starck. “Each asset is strategically positioned in sought-after locations characterized by superior access to freeways, amenities, airports and residential communities.” According to Starck, the deal …

October 1, 2018

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