Industrial

Levin Johnston Arranges $25M Sale of Two Self-Storage Facilities in Silicon Valley

by Amy Works July 18, 2018

LOS GATOS, CALIF — Levin Johnston of Marcus & Millichap has arranged the sale of two institutional-quality self-storage facilities located at 688 University Ave. and 17443 Farley Road West in Los Gatos within California’s Silicon Valley. A private high-net-worth family acquired the assets for $25 million. Constructed in 1999 and 2005, the Stor’ It Los Gatos facilities feature a total of 785 self-storage units, ranging from 25 square feet to 300 square feet, and in a mix of climate-controlled and standard unit offerings. At the time of sale, the 45,287-square-foot asset was 84 percent occupied. Adam Levin of Levin Johnston and Jacob Becher of Marcus & Millichap represented the buyer and the seller, a private high-net-worth individual, in the deal.

July 18, 2018

Acquisitions Arizona Industrial Western

Golden Eagle Distributors Sells Industrial Building in Tucson for $13.3M

by Amy Works July 18, 2018

TUCSON, ARIZ. — Golden Eagle Distributors, a Tucson-based beer distributor, has completed the sale of a 161,212-square-foot industrial building located at 705 E. Ajo Way in Tucson. 6455 Box Springs Blvd. LLC purchased the property for $13.3 million. Stephen Cohen and Michael Hammond of Cushman & Wakefield | PICOR represented the seller, while Art Day of CBRE represented the buyer in the transaction.

July 18, 2018

Industrial Leasing Activity Midwest Wisconsin

Anderson Manufacturing Signs 19,370 SF Industrial Lease in Lake Geneva, Wisconsin

by Kristin Harlow July 18, 2018

LAKE GENEVA, WIS. — Anderson Manufacturing LLC has signed a 19,370-square-foot industrial lease in Lake Geneva. The manufacturer of screws, rivets and other fastener solutions will occupy the space at 999 S. Wells St. Nick Keys of the Dickman Co. Inc./CORFAC International brokered the lease transaction. The landlord is 999 Wells LLC.

July 18, 2018

Development Georgia Industrial Southeast

CRG, Pope & Land Enterprises to Develop 8.5 MSF Industrial Project Along Metro Atlanta’s I-85 South Corridor

by Camren Skelton July 17, 2018

NEWNAN, GA. — CRG, in partnership with Pope & Land Enterprises Inc., has unveiled plans to develop The Cubes at Bridgeport, a 560-acre industrial project located along the Interstate 85 South Corridor in Newnan. At full build-out, the park will include 8.5 million square feet of industrial space. The development is located near both CSX and Norfolk Southern railroads, roughly 30 miles from Hartsfield-Jackson Atlanta International Airport and approximately five miles from Newnan-Coweta County Airport. The first phase of the development will include a 1 million-square-foot speculative building with 40-foot clear heights, trailer storage and car parks. The building will be capable of handling warehousing, e-commerce and manufacturing tenants. Phase I will also include infrastructure improvements such as ramp upgrades, a new signalized intersection on Highway 29 and a public parkway and overpass above the CSX main line. Other planned infrastructural improvements include water lines, two miles of new sanitary sewer and electric utility improvements. Clayco is the design-builder for the project and its subsidiary, BatesForum, is the architect. Developers expect to wrap up construction on the first building at the project in December 2018. Chris Tomasulo and Steve Grable of JLL are handling The Cubes’ leasing assignment.

July 17, 2018

Acquisitions Industrial Texas

Hartman Income REIT Sells 66,504 SF Industrial Asset Near DFW Airport

by Taylor Williams July 17, 2018

IRVING, TEXAS—Investment and management firm Hartman Income REIT has sold Skyway Business Center, a 66,504-square-foot industrial asset located near Dallas-Fort Worth (DFW) International Airport in Irving. Built in 1981 and acquired by Hartman Income REIT in 2008, the property was roughly 73 percent leased at the time of sale. The buyer was Dallas-based Dalfen America Corp.

July 17, 2018

Acquisitions California Industrial Self-Storage Western

Loeffler Negotiates $4.5M Sale of Self-Storage Facility in Northern California

by Amy Works July 17, 2018

REDDING, CALIF. — Loeffler Self-Storage Group has arranged the sale of All-Preferred Mini-Storage, a self-storage facility located in Redding. The Raudman Family sold the property to a local investor for $4.5 million, or $57.62 per square foot. Situated on 3.9 acres, the 78,095-square-foot facility features 530 storage units and a cellular antenna. The property comprises 13 single-story buildings with asphalt drive aisles, plus a manager’s office and residence. Bobby Loeffler and Tyler Skelly of Loeffler Self-Storage Group represented the seller and buyer in the transaction.

July 17, 2018

Development Industrial South Carolina Southeast

Red Rock to Break Ground on First Phase of Smith Farms Industrial Park in Upstate South Carolina

by Camren Skelton July 17, 2018

SPARTANBURG, S.C. — Red Rock Developments will soon break ground on the first phase at Smith Farms Industrial Park in Spartanburg County. The Columbia, S.C.-based developer first unveiled plans for the 5.9 million-square-foot project, located at the intersection of Highway 101 and Reidville Road, in March. Phase I will include two speculative buildings totaling 610,000 square feet. Building I will be a 400,000-square-foot, cross-dock facility that will suit the needs of warehouse/distribution users. The second building will be a rear-load facility totaling 210,000 square feet. The building will be suited for non-distribution or smaller tenants, according to Red Rock. Smith Farms is located roughly three miles from Interstate 85, providing access to BMW’s Spartanburg plant, Greenville-Spartanburg International Airport and the Greer Inland Port. Red Rock expects to wrap up construction on the first two buildings in the second quarter of 2019. NAI Earle Furman is handling the project’s leasing assignment.

July 17, 2018

Acquisitions Illinois Industrial Midwest

Midwest Industrial Funds Acquires 600,000 SF Industrial Complex in Hodgkins, Illinois for $17M

by Kristin Harlow July 17, 2018

HODGKINS, ILL. — Midwest Industrial Funds has purchased a 600,000-square-foot, two-building industrial complex in Hodgkins, about 17 miles southwest of Chicago, for more than $17 million. The company plans to renovate and reposition both buildings at a total cost of $15 million. Midwest Industrial plans to tear down part of the building at 6600 River Road in order to modernize the property with 45 additional exterior docks, new glass façade, new office space, a new roof and HVAC. Once renovated, the 408,000-square-foot building will be named Hodgkins Center of Commerce and feature 62 dock doors, onsite trailer parking and a clear height of 26 feet. The smaller property at 6620 River Road will remain 110,000 square feet and undergo an exterior renovation. Walter Murphy of Lee & Associates represented the undisclosed seller. Steve Roth of CBRE secured construction financing for the project. Harris Architects will provide architectural services and Spaceco is the civil engineer.

July 17, 2018

Acquisitions Illinois Industrial Midwest

Amerco Purchases Two Industrial Buildings in Libertyville, Illinois

by Kristin Harlow July 17, 2018

LIBERTYVILLE, ILL. — Amerco Real Estate Co. has purchased two industrial buildings in Libertyville, about 40 miles northwest of Chicago. The purchase price was not disclosed. Amerco is the parent company of U-Haul and provides real estate and development services to U-Haul. The company purchased a 48,439-square-foot building at 14045 Rockland Road as well as a 12,000-square-foot building located next door. Both properties will serve as storage and truck rentals for U-Haul. Brian Bocci of Entre Commercial Realty represented the buyer in both transactions. John Hauser of Avison & Young represented the undisclosed seller of the larger building. The second building was not officially on the market, but JLL represented its seller.

July 17, 2018

Development Industrial Texas

E.E. Reed Completes 130,000 SF Distribution Center in Metro Houston

by Taylor Williams July 16, 2018

MONT BELVIEU, TEXAS — E.E. Reed Construction has completed a 130,000-square-foot distribution center for Wismer Distributing, which specializes in the delivery of alcoholic beverages, in Mont Belvieu, about 30 miles east of Houston. The property consists of 100,000 square feet of warehouse/distribution space and 30,000 square feet of office space. E.E. Reed worked in conjunction with Houston-based Tramonte + Johnson on the design/build project.

July 16, 2018

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