FARMERS BRANCH, TEXAS — California-based Panattoni Development has acquired 8.4 acres in the northern Dallas suburb of Farmers Branch for the development of a 159,405-square-foot speculative distribution center. The site is located near Interstates 35 and 635. Completion is slated for the second quarter of 2020. The seller was Centurion American Development Group. Biel Partners Commercial Real Estate represented Panattoni in the land acquisition.
DALLAS — G.W. Floyd Ventures LLC has acquired Switzer Business Park, a 123,000-square-foot development featuring a mix of office, industrial and flex spaces in northeast Dallas. Brian Pafford and Jason Finch of Bradford Commercial Real Estate Services represented the seller, a California-based partnership that is exiting the Texas market. Bradford will continue to lease the property, which houses more than 60 tenants, on behalf of the new ownership.
NAMPA, IDAHO — Amazon has announced plans to open its first fulfillment center in Idaho, creating more than 1,000 full-time jobs. Located in Nampa, the 650,000-square-foot facility is slated to open in 2020. The fulfillment center is being developed in partnership with Pannotoni Development Co. Inc. Amazon plans to utilize the center to fulfill customer orders such as books, electronics and toys.
NORTHGLENN, COLO. — Pinnacle Real Estate Advisors has arranged the sale of Huron Business Center, an industrial facility in Northglenn, 15 miles north of Denver. An undisclosed seller sold the property for $11 million, or $140.69 per square foot. The name of the buyer was not released. Located at 405-475 W. 115th Ave., the asset features 78,187 square feet of industrial space. Matt Lewallen and Kevin Calame of Pinnacle Real Estate Advisors represented the seller in the deal.
MINEOLA, TEXAS — Marcus & Millichap has brokered the sale of KeepIt Mini Storage, a 509-unit self-storage facility in Mineola, about 80 miles east of Dallas. Built in phases between 1994 and 2017, the property comprises 116 climate-controlled units, 393 non-climate-controlled units, four uncovered parking spaces and a 1,800-square-foot business center that can be rented out on a per-day basis. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller and developer in the transaction, and procured the 1031 exchange buyer.
OCALA, FLA. — Stan Johnson Co. has negotiated the sale of a 375,600-square-foot distribution center in Ocala. Custom Window Systems fully occupies the building, using it for company headquarters, manufacturing and distribution. Custom Window Systems has 15 years left on a triple-net lease. The company has occupied the building since it was constructed in 2006. In 2017, the facility was expanded by 150,000 square feet. Sky Management Services acquired the building for an undisclosed price. The property was listed for more than $28 million. Mollie Alteri, Joey Odom, Mike Sladich, and Maggie Holmes of Stan Johnson Co. represented the seller, a New York City-based institutional investor.
MARLBOROUGH AND BILLERICA, MASS. — Berkeley Partners has acquired two industrial flex properties near Boston for $14.5 million. The two single-building properties, which include 734 Forest Street in Marlborough and 35 Dunham Road in Billerica, total 120,796 square feet. Both buildings were 100 percent leased at the time of sale. Scott Dragos, Doug Jacoby, Chris Skeffington, Roy Sandeman, Anthony Hayes, Timothy Mulhall and Daniel Hines of CBRE represented Berkeley Partners in the transaction. The team also represented the seller, The RAM Companies USA.
GREENWOOD, IND. — Monmouth Real Estate Investment Corp. has acquired a 615,747-square-foot industrial building located at 1151 S. Graham Road in Greenwood for $81.5 million. Amazon.com Services Inc. occupies the property on a 15-year, net lease basis. The building is situated on 78.6 acres. The seller was not disclosed.
BOLINGBROOK, ILL. — ML Realty Partners has purchased a 302,354-square-foot industrial property in Bolingbrook for an undisclosed price. The newly constructed, Class A building is located at 999 Dalton Lane near I-55. It is immediately available for lease and features a clear height of 36 feet. Jeff Devine and Steve Disse of Colliers International brokered the transaction. The seller was not disclosed.
WILKES-BARRE, PA. — NAI Mertz has brokered the $4.2 million sale of a 225,000-square-foot industrial property in Wilkes-Barre, located approximately 120 miles west of New York City. The buyer, pipe distribution company PSI, plans to renovate the property to the tune of $9 million and add a new pipe mill. David Weaver and Stephen Cole of NAI Mertz represented the seller, Medley Investments, in the transaction. Elijah Miller of Hinerfeld Commercial Real Estate represented PSI.
