Industrial

Talonvest Arranges $48.8M Bridge Loan for Refinancing of NYC Self-Storage Properties

by Taylor Williams June 18, 2019

NEW YORK CITY, NEW ROCHELLE AND MOUNT VERNON, N.Y. — Talonvest Capital Inc., a California-based mortgage broker, has arranged a $48.8 million bridge loan for the refinancing of three self-storage properties located throughout the New York City metropolitan area. The properties total 175,531 net rentable square feet across 2,012 units and are located in The Bronx, New Rochelle and Mount Vernon. An undisclosed lender provided the three-year, nonrecourse loan to a partnership between Kansas-based Clark Investment Group and self-storage developer GoodFriend Management. A full service commercial real estate lender provided the loan, which included an interest/operating reserve, individual release provisions and prepayment flexibility.

June 18, 2019

Acquisitions Industrial Texas

HFF Negotiates Sale of Three Warehouses Totaling 113,117 SF in Houston

by Taylor Williams June 17, 2019

HOUSTON — HFF has negotiated the sale of Kempwood Tech Center, an industrial property consisting of three buildings totaling 113,117 square feet in northwest Houston. The warehouses are situated on 7.2 acres at 2700-2778 Bingle Road near Interstate 10 and U.S. Highway 290. Marty Hogan and Charles Strauss of HFF marketed the property in conjunction with Ten-X on behalf of the seller, LNR Partners LLC. Scott Wilkerson of Garver Real Estate represented the buyer, a limited partnership.

June 17, 2019

Acquisitions Industrial Self-Storage Western Wyoming

SkyView Advisors Brokers Sale of 99,700 SF Self-Storage Property in Cheyenne, Wyoming

by Amy Works June 17, 2019

CHEYENNE, WYO. — SkyView Advisors has negotiated the sale of Superior Storage of Cheyenne, a self-storage facility located in Cheyenne. Storage Star acquired the property for an undisclosed price. Situated on 6.4 acres at 4405 Van Buren Ave., Superior Storage of Cheyenne totals 99,700 rentable square feet and 493 total units. Zachary Urow and Ryan Clark of SkyView Advisors represented the undisclosed seller in the deal.

June 17, 2019

150-Milford-Road-East-Windsor-New-Jersey

Acquisitions Industrial New Jersey Northeast

Dermody Properties Acquires 615,000 SF Logistics Center in New Jersey

by Taylor Williams June 17, 2019

EAST WINDSOR, N.J. — Dermody Properties has acquired a 615,000-square-foot logistics center in East Windsor, a northern suburb of Trenton. Built in 1998 and expanded in 2003, the 51.5-acre property features a clear height of 36 feet, 41 dock-high doors, 413 automobile parking spots and 28 trailer parking spots. Dermody, an investment firm based in Reno, Nevada, plans to upgrade the building and make the space available for occupancy by 2020. CBRE is handling leasing of the center.

June 17, 2019

Development Industrial Midwest Ohio

Kroger, Ocado Break Ground on $55M Customer Fulfillment Center in Southwest Ohio

by Kristin Harlow June 17, 2019

MONROE, OHIO — The Kroger Co. and Ocado, a dedicated online grocery retailer, have broken ground on their first customer fulfillment center. Cincinnati-based Kroger is investing $55 million to build the property, which will be situated in the southwest Ohio city of Monroe. The automated warehouse facility will have digital and robotic capabilities and will span 335,000 square feet. The model will be replicated in other locations, as Kroger plans to build 20 such facilities. To date, two additional sites have been selected in the central Florida and Mid-Atlantic regions. The Ohio facility is expected to generate more than 400 new jobs. Ryan Cos. US Inc. is designing and building the property. In May 2018, Kroger and UK-based Ocado announced their partnership in order to provide online ordering, automated fulfillment and home delivery capabilities.

June 17, 2019

Acquisitions Industrial Midwest Ohio

Modula Purchases Former Dayton Daily News Building in Ohio

by Kristin Harlow June 17, 2019

FRANKLIN, OHIO — Modula, an Italian company that manufactures automated storage systems, has purchased the former Dayton Daily News building in Franklin along I-75. An affiliate of Capital Environmental Risk Transfer Alliance sold the property for nearly $13.2 million, according to the Cincinnati Business Courier. Cox Media Group Ohio previously owned and occupied the 252,000-square-foot building. The company used the facility for the printing of all of its local newspapers. Cox Media Group Ohio announced in July 2017 that company newspapers would be printed at an Indianapolis production facility under an agreement with Gannett Publishing Services. Modula received a Job Creation Tax Credit from the state of Ohio totaling 1.52 percent for seven years. Modula plans to create 100 new jobs at the facility. In partnership with the European American Chamber of Commerce, the project represents ongoing efforts by REDI Cincinnati to attract foreign investment to the greater Cincinnati region. Modula’s investment in southwest Ohio will be its second location in the United States. Chuck Ackerman, Bill Keefer and Todd Cochran of Colliers International brokered the transaction.

June 17, 2019

Acquisitions Industrial Lee & Associates Midwest Wisconsin

Lee & Associates Negotiates Sale of 196,400 SF Spec Industrial Building in Pleasant Prairie, Wisconsin

by Kristin Harlow June 17, 2019

PLEASANT PRAIRIE, WIS. — Lee & Associates has negotiated the sale of a 196,400-square-foot, speculative industrial building within LakeView Corporate Park in Pleasant Prairie for an undisclosed price. The newly completed building features 20 exterior docks and four drive-in doors. Tom Boyle of Lee & Associates represented the buyer, Scannell Properties. John Sharpe of Lee & Associates represented the seller, Lakeview Industrial Development, which is a joint venture between Hunzinger Construction Co. and Wangard Partners. Sharpe and Boyle have been retained by the new owner to market the property for lease.

June 17, 2019

Florida Industrial Leasing Activity Southeast

Tobacco Company Renews 238,437 SF Industrial Lease in Tampa

by Alex Tostado June 14, 2019

TAMPA, FLA. — ITG Brands LLC, the third largest tobacco company in the United States, has renewed its 238,437-square-foot industrial lease at East Meadow Distribution in Tampa for 10 years. The company has occupied the entire facility for the past 15 years. East Meadow is located within five miles of Interstates 75 and 4, and is near the Port of Tampa and Port Manatee. Rick Narkiewicz and John Esposito of Newmark Knight Frank represented the tenant in the lease negotiations. Cushman & Wakefield represented the landlord, UBS Financial Services Inc.

June 14, 2019

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 173-Unit Self-Storage Facility in Temple, Texas

by Taylor Williams June 14, 2019

TEMPLE, TEXAS — Marcus & Millichap has brokered the sale of The Storeroom, a self-storage facility located in the Central Texas city of Temple that consists of 173 non-climate-controlled units and 22 uncovered parking spaces. Spanning 20,675 square feet, the property includes a leasing office and showroom, 24-hour video surveillance and perimeter fencing and lighting. Brandon Karr and Danny Cunningham of Karr Self-Storage, a division of Marcus & Millichap, represented the seller, a private investor, in the transaction. The buyer was a Texas-based partnership.

June 14, 2019

Acquisitions Arizona Industrial Western

DAUM Commercial Negotiates $8.2M Sale of 123,754 SF Industrial Building in Phoenix

by Amy Works June 14, 2019

PHOENIX — DAUM Commercial Real Estate Services has facilitated the sale of an industrial building located in Phoenix’s Southwest submarket. Exeter Property Group purchased the asset from David Turner International for $8.2 million in an off-market transaction. Situated on 7.2 acres at 4502 W. Monterosa St., the 123,754-square-foot property features an air-conditioned warehouse, six dock-high doors, two grade-level doors, ample parking and 24-foot clear heights. Trevor McKendry and Chris Rogers of DAUM represented the buyer and seller in the deal.

June 14, 2019

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