Industrial

Sitex Group Acquires 83,000 SF Warehouse in Moonachie, New Jersey

by David Cohen August 13, 2018

MOONACHIE, N.J. — Sitex Group has acquired an 83,000-square-foot warehouse located at 131 W. Commercial Ave. in Moonachie. Sitex purchased the property from a private seller. The sales price was not disclosed. The property, which is located approximately ten miles from New York City, can accommodate one or two occupants and features ceiling heights of up to 20 feet. The building is currently 50 percent occupied by a logistics company. Sitex plans to renovate the interior and exterior of the property in order to appeal to corporate tenants.

August 13, 2018

Florida Industrial Loans Multifamily Office Retail Southeast

Walker & Dunlop Secures $120M Refinancing for Mixed-Property Portfolio in Metro Miami

by Camren Skelton August 13, 2018

MIAMI LAKES, FLA. — Walker & Dunlop has secured a $120 million loan for the refinancing of the Graham Portfolio, a 29-property portfolio in Miami Lakes, a master-planned community located less than 20 miles northwest of Miami. The 1.2 million-square-foot portfolio includes retail, office, industrial, flex, multifamily and ground lease assets. Al Rex, Marty McGrogan and Ariel Zucker of Walker & Dunlop arranged the 15-year, non-recourse loan on behalf of the borrower, the Graham Cos., which developed the properties within the portfolio. An unnamed life insurance company provided the loan. All of the properties included in the Graham Portfolio are located within a mile of downtown Miami Lakes and many are anchored by tenants such as CVS/pharmacy, Burger King and Publix.

August 13, 2018

Alabama Development Industrial Southeast

Burton Property Group to Break Ground on New Headquarters for Aircraft Engine Manufacturer in Mobile

by Camren Skelton August 13, 2018

MOBILE, ALA. — Burton Property Group (BPG) will soon break ground on a new corporate headquarters and manufacturing facility for Continental Motors Group at the Mobile Aeroplex at Brookley, an industrial complex and airport in Mobile. The facility will consolidate the aircraft engine manufacturer’s operations from 11 buildings situated on 45 acres to two buildings on approximately 20 acres. The buildings will total 275,000 square feet, with the majority being dedicated to aircraft engine and parts manufacturing. BPG partnered with Atlanta-based investment firm Stonemont Financial Group to fund the development. Clayco Inc. is designing and building the project, which is expected to take 11 months to complete. Continental Motors Group employs approximately 450 people in Alabama’s Mobile and Baldwin counties.

August 13, 2018

Acquisitions Industrial Midwest Wisconsin

Colliers Brokers $4.3M Sale of Industrial Building in Hartland, Wisconsin

by Kristin Harlow August 13, 2018

HARTLAND, WIS. — Colliers International has brokered the $4.3 million sale of a 58,828-square-foot industrial building in Hartland, a western suburb of Milwaukee. Printing company JTS Direct LLC fully occupies the property, which is located at 1180 Walnut Ridge Drive. Tom Shepherd, Jennifer Huber-Bullock and Steve Sewart of Colliers represented the seller, SH 1180 Walnut Ridge LLC. Kashou Brothers LLC purchased the asset.

August 13, 2018

Acquisitions Industrial Self-Storage Texas

Bellomy Arranges Sale of 941-Unit Self-Storage Facility in Houston

by Taylor Williams August 10, 2018

HOUSTON — Bellomy & Co. has arranged the sale of Sentry Self Storage, a 941-unit facility in Houston. Built in 2006, the property is situated on five acres and features climate-controlled units that total 104,025 net rentable square feet. Hugh Horne of Los Angeles-based Charmel Storage Capital, along with Bill Bellomy and Michael Johnson of Bellomy & Co., represented the seller in the transaction. The team also procured the buyer, Public Storage, a self-storage operator and REIT based in Glendale, Calif.

August 10, 2018

Arizona Development Industrial Western

TCC Buys Southwest Phoenix Site for 554,000 SF Industrial Development

by Amy Works August 10, 2018

PHOENIX — Trammell Crow Co. (TCC) and an institutional investor have acquired a 38.5-acre site south of the southeast corner of 59th Avenue and Lower Buckeye Road in Phoenix’s Southwest submarket. The price was not disclosed. The partnership plans to develop West 202 Logistics Center, a 554,000-square-foot industrial building, on the site. The cross-docked building will feature 36-foot clear heights, signature office entries, all-concrete truck courts and circulation drives. Construction is slated to begin this quarter. Butler Design Group will serve as the project architect and Willmeng Construction as general contractor. Comerica Bank is providing construction financing. Pat Feeney, Dan Calihan, Rusty Kennedy and Bill Bayless of CBRE Phoenix are marketing the project on behalf of the joint venture.

August 10, 2018

Acquisitions Michigan Midwest Self-Storage

Marcus & Millichap Brokers Sale of 94,115 SF Self-Storage Facility in Suburban Detroit

by Kristin Harlow August 10, 2018

ROCHESTER HILLS, MICH. — Marcus & Millichap has brokered the sale of Rochester Mini Storage in Rochester Hills, about 25 miles north of Detroit. The sales price was not disclosed. The 94,115-square-foot self-storage facility includes units that range in size from 25 to 400 square feet. Both climate-controlled and non-climate-controlled options are available. Brian Kelly, Brett Hatcher and Gabriel Coe of Marcus & Millichap brokered the transaction. An out-of-state buyer purchased the asset. The seller was a local owner.

August 10, 2018

Data Centers Development Industrial Southeast Virginia

CoreSite Receives County Approval to Expand Data Center Campus in Northern Virginia by 289,000 SF

by Camren Skelton August 10, 2018

RESTON, VA. — CoreSite Realty Corp. has received final approval from the Fairfax County Board of Supervisors to expand the scope of its planned data center campus in Reston. With the approval, CoreSite can build an additional 289,000 square at the campus, bringing the total square footage to 900,000, or more than 100 megawatts. CoreSite acquired the 21.2-acre light industrial/office park in 2016. The data center provider already owns an existing facility in Reston. Upon full build-out of the expansion, its Northern Virginia data center footprint will span nearly 1.4 million square feet. CoreSite is one of the world’s largest data center providers, with 20 facilities under management across New York, Boston, Denver, Chicago, Miami, Silicon Valley, Los Angeles and Northern Virginia.

August 10, 2018

Acquisitions Industrial Texas

Brennan Acquires 12-Building Industrial Park in Northwest Houston

by Taylor Williams August 9, 2018

HOUSTON — Chicago-based Brennan Investment Group LLC has acquired Hempstead Business Park, a 12-building industrial property located at 10612-10616 Hempstead Highway in northwest Houston. The buildings total 133,850 square feet and were 92 percent occupied at the time of sale. The seller was not disclosed.

August 9, 2018

Industrial Leasing Activity Texas

CBRE Negotiates 153,130 SF Industrial Lease in Oklahoma City

by Taylor Williams August 9, 2018

OKLAHOMA CITY — CBRE has negotiated a 153,130-square-foot industrial lease at 4200 SE 59th St. in Oklahoma City on behalf of Dex Heavy Duty Parts LLC, a North Carolina-based auto parts manufacturer. David Portman of CBRE represented the tenant in the lease negotiations. The property, which was built in 2002, is a distribution warehouse with 25-foot ceiling heights and 29 dock-high doors. The owner of the property is OKC 59th Street LLC.

August 9, 2018

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