Industrial

BKM Capital Partners Buys 898,389 SF Pacific Business Center in Nevada for $111M

by Amy Works July 30, 2019

HENDERSON, NEV. — BKM Capital Partners has purchased Pacific Business Center, a light multi-tenant industrial property in Henderson, for $111.2 million. The 13-building asset is located at 1045-1175 American Pacific Drive, 160-194 Gallagher Crest Road and 1060-1110 Mary Crest Road and offers a total of 898,389 square feet of industrial space. Constructed between 1996 and 1998, Pacific Business Center has undergone more than $12.4 million in capital improvements since 2010. Renovations included high-quality HVAC and EVAP systems, LED lighting, upgraded office finishes and new exterior paint. The property features 24-foot to 28-foot clear heights, ESFR sprinkler systems and new thermoplastic polyolefin (TPO) roofs. At the time of sale, the property was 85 percent occupied by a diverse mix of tenants. BKM was self-represented, while CBRE represented the undisclosed seller in the deal.

July 30, 2019

Acquisitions Arizona Industrial Western

CapRock Partners Acquires 226,436 SF Papago Distribution Center in Phoenix

by Amy Works July 30, 2019

PHOENIX — CapRock Partners, along with an institutional client advised by CenterSquare Investment Manager, has purchased Papago Distribution Center, a Class A industrial property located at 1010 N. 47th Ave. in Phoenix. A global asset manager sold the property for an undisclosed price. Updike Distribution Logistics, a third-party logistics company, fully occupies the 226,436-square-foot facility. The property features 5,000 square feet of office space, 30-foot clear heights, 60 dock-high doors and three drive-in ramps. Situated on 12 acres, the asset features a 130-foot truck court and heavy power capacity. Additionally, the property is rail-service capable with seven knock-out doors and nearly 200 parking spaces. Bo Mills and Mark Detmer of JLL represented the CapRock in the acquisition.

July 30, 2019

Acquisitions Industrial Texas

Brennan Investment Group Sells 129,061 SF Industrial Property in Dallas

by Taylor Williams July 30, 2019

DALLAS — Chicago-based Brennan Investment Group has sold 8820 Ambassador Row, an industrial property located near Love Field Airport and Interstate 35 in Dallas. According to LoopNet Inc., the property was built in 1966 on 5.9 acres and totals 129,061 square feet. The building serves as the corporate headquarters of Delivery Limited and houses all of its storage, logistics and administrative functions. The buyer was not disclosed.

July 30, 2019

Development Georgia Industrial Southeast

Cabot, Republic Property Break Ground on 275,000 SF Distribution Center Near Atlanta for Biolab Inc.

by Alex Tostado July 29, 2019

CONYERS, GA. — Cabot Properties and Republic Property Co. have broken ground on a 275,000-square-foot, build-to-suit distribution center in Conyers. Biolab Inc. will occupy the entire building upon completion. Biolab, which has operated in Conyers since 1973, will use the new facility to house production and storage space for pool and spa water-treatment chemicals. The center will feature a 32-foot ceiling clear height, fifteen overhead dock doors and two drive-in doors. ARCO Design/Build is the general contractor. A timeline for completion was not disclosed.

July 29, 2019

Acquisitions Industrial New Jersey Northeast

Kiss Products Purchases Distribution Facility in Piscataway, New Jersey, for $65.7M

by Alex Patton July 29, 2019

PISCATAWAY, N.J. — Kiss Products Inc., a manufacturer and distributor of nail care products, based in New York, has purchased a distribution facility in Piscataway, located in northeast New Jersey, for $65.7 million. The 469,000-square-foot property is part of Rockefeller Group Logistics Center, a 2.2 million-square-foot distribution center with other tenants that include Best Buy and Fujitsu General America Inc. Jules Nissim, Stan Danzig and Marc Petrella of Cushman & Wakefield represented the Rockefeller Group in the transaction. Greg Brown and Tom Kirczow of NAI DiLeo-Bram & Co. represented Kiss Products. Citibank, City National Bank and Shinhan Bank America financed the acquisition.

July 29, 2019

Acquisitions Industrial New York Northeast

Kalmon Dolgin Negotiates $16.5M Sale of Industrial Property in New York City

by Alex Patton July 29, 2019

NEW YORK CITY— Kalmon Dolgin Affiliates (KDA) has negotiated the $16.5 million sale of a 70,000-square-foot industrial property in Queens. The property formerly housed several tenants that used the space for warehousing and distribution. The buyer plans to demolish the building and build a self-storage facility. Neil Dolgin and Grant Dolgin of KDA represented the seller, Monitor Holding Corp., as well as the buyer, 74-16 Grand Ave. LLC, in the transaction.

July 29, 2019

Sheehan-Family-Cos.-Kingston-Massachusetts

Industrial Massachusetts Northeast

Dacon Corp. Completes 62,000 SF Headquarters Renovation in Kingston, Massachusetts

by Alex Patton July 29, 2019

KINGSTON, MASS. — Local design-build firm Dacon Corp. has completed a 62,000-square-foot renovation project at the headquarters of the Sheehan Family Cos., a distributor of beer and spirits in the Northeast region. The property is located in Kingston, a city on the southeast coast of Massachusetts. Renovations expanded the facility by 47,000 square feet, adding more temperature-controlled areas, storage space and efficient distribution capabilities. Renovations to the existing facility covered an additional 15,000 square feet.

July 29, 2019

Acquisitions Indiana Industrial Midwest

Monmouth Acquires 350,000 SF Industrial Building in Lafayette, Indiana for $25.5M

by Kristin Harlow July 29, 2019

LAFAYETTE, IND. — Monmouth Real Estate Investment Corp. has acquired a 350,000-square-foot industrial building in Lafayette for $25.5 million. The property is situated on 45 acres at 5440 Haggerty Lane. Toyota Tshusho America Inc. occupies the property on a net-lease basis for 10 years. The facility serves the 3.3 million-square-foot Subaru auto assembly plant, which is situated directly across from the building. The seller was not disclosed.

July 29, 2019

Illinois Industrial Leasing Activity Midwest

DHL Signs 60,000 SF Industrial Lease in Batavia, Illinois

by Kristin Harlow July 29, 2019

BATAVIA, ILL. — DHL has signed a 60,000-square-foot industrial lease in Batavia, a western suburb of Chicago. The recently completed, 102,000-square-foot building is located at 1100 N. Raddant Road within the Northeast Business Park. Principal Construction built the facility on behalf of developer Midwest Industrial Funds. Approximately 42,000 square feet remain available for lease.

July 29, 2019

Development Industrial Self-Storage Texas

The Jenkins Organization Opens 800-Unit Self-Storage Facility in North Austin

by Taylor Williams July 29, 2019

AUSTIN, TEXAS — The Jenkins Organization, a Houston-based self-storage developer, has opened Northgate Storage, an 800-unit facility in Austin. The property, which spans 124,000 square feet of climate-controlled space, fronts State Highway 183 on the city’s north side. Additional features include a covered loading zone, video monitoring and gated access. ARCO/Murray served as the design-build firm on the project.

July 29, 2019

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