Industrial

Exeter Property Group Buys 806,322 SF Industrial Asset in the Inland Empire for $97.7M

by Amy Works April 24, 2019

SAN BERNARDINO, CALIF. — Exeter Property Group, a Pennsylvania-based industrial development and investment firm, has purchased a distribution building located at 6227 Cajon Blvd. in the southern California city of San Bernardino. The sales price was $97.7 million. Bob’s Discount Furniture occupies the 806,322-square-foot property, which is situated on 41 acres. The property offer access to the BNSF Intermodal Yard, FedEx Group Rialto, UPS Air Hub and Ontario International Airport. Bo Mills, Mark Detmer and Ryan Sitov of JLL, along with Scott Schwartz of Insignia PMG, represented the undisclosed seller in the transaction. “This listing represented the opportunity for an investor to acquire a building with a long-term lease to a strong tenant in the largest industrial market in the world,” says Detmer. “The buyer was attracted to the stability of the property, the tenant’s commitment to the area and potential for future development growth.” — Amy Works

April 24, 2019

Development Florida Industrial Southeast

Rooker Breaks Ground on 155,820 SF Spec Industrial Facility in Jacksonville

by Alex Tostado April 23, 2019

JACKSONVILLE, FLA. — Atlanta-based developer Rooker has broken ground on a 155,820-square-foot speculative industrial facility located just off Interstate 295 in Jacksonville. In October 2018, Rooker acquired 39 acres in Perimeter West Industrial Park, including three industrial-zoned parcels, one of which will be the site of this project. Pieper O’Brien Herr Architects is designing the project, and FCL Builders is serving as the general contractor. Construction is expected to be complete by early December.

April 23, 2019

Acquisitions California Industrial Retail Western

Online Vehicle Auction Company Acquires 51 Acres in San Diego for $30M

by Amy Works April 23, 2019

SAN DIEGO — Copart, a Dallas-based online vehicle auction company, has purchased 51 acres of land in San Diego’s Otay Mesa submarket. The Street Family sold the property for $30 million. Located at the north end of La Media Road and the east side of Brownfield Airport, the property was most recently used as a truck yard. Additionally, the asset was recently improved with power, water, landscaping, fencing, screening and secure gates. Rob Hixson of CBRE represented the seller, while Joe Carroll of Resource One represented the buyer in the deal. Copart sells roughly 14,000 used cars per day, using patented virtual auction technology.

April 23, 2019

Acquisitions Industrial Midwest Ohio

Transwestern Fund Acquires 1.5 MSF Industrial Portfolio in Columbus

by Kristin Harlow April 23, 2019

COLUMBUS, OHIO — On behalf of its TSP Value and Income Fund II, Transwestern Investment Group has acquired a 1.5 million-square-foot industrial portfolio in Columbus for an undisclosed price. The portfolio includes three buildings: a 706,162-square-foot building at 3880 Groveport Road; a 403,122-square-foot facility at 3800 Lockbourne Industrial Parkway; and a 398,471-square-foot building at 4150 Lockbourne Industrial Parkway. The portfolio is approximately 50 percent leased to four tenants. The properties feature clear heights of 22 to 24 feet and more than 500 car and 400 trailer parking positions across the three assets. Kurt Sarbaugh and Robin Stolberg of HFF represented the seller, a joint venture between Singerman Real Estate and Green Door Capital. Ken Martin and Brian Carolton of HFF arranged acquisition financing with TBK Bank.

April 23, 2019

Acquisitions Industrial Michigan Midwest Self-Storage

Marcus & Millichap Arranges Sale of 58,590 SF Self-Storage Facility in Utica, Michigan

by Kristin Harlow April 23, 2019

UTICA, MICH. — Marcus & Millichap has arranged the sale of EZ Storage, a 58,590-square-foot self-storage facility in Utica. The sales price was not disclosed. Located at 12700 E. Utica Park Blvd., the 547-unit property includes both climate-controlled and non-climate-controlled units. The facility is 98 percent occupied. Brett Hatcher and Gabriel Coe of Marcus & Millichap marketed the property for sale on behalf of the seller, a limited liability company. The team also secured and represented the buyer, a limited liability company.

April 23, 2019

Acquisitions Illinois Industrial Midwest

Cawley Chicago Brokers Sale of 43,325 SF Industrial Building in Chicago

by Kristin Harlow April 23, 2019

CHICAGO — Cawley Chicago has brokered the sale of a 43,325-square-foot industrial building in Chicago for an undisclosed price. The property is situated on 1.8 acres at 4834 S. Oakley Ave. and includes fenced parking and outside storage. Frank Melchert and Stevan Arandjelovic of Cawley represented the seller, MPC Real Estate LLC. Draper and Kramer represented the buyer, Bridgewater Studio Inc., which will occupy the building.

April 23, 2019

Acquisitions Industrial Midwest Nebraska Self-Storage

StorageMart Adds Four Self-Storage Locations in Greater Omaha

by Kristin Harlow April 22, 2019

OMAHA, NEB. — StorageMart has acquired the Omaha Mini Storage Portfolio, adding four self-storage facilities to its footprint. The properties, located on Harrison Street, I Street and Industrial Road, offer climate-controlled units as well as drive-up units. StorageMart plans to make renovations to the facilities, including adding perimeter fencing, gates with keypad access and LED lighting. Plans also call for renovated offices, new paint and paving repairs. StorageMart is based in Columbia, Mo.

April 22, 2019

Development Industrial North Carolina Southeast

Chewy to Open $55M Distribution Center in North Carolina, Create 1,200 New Jobs

by Alex Tostado April 22, 2019

SALISBURY, N.C. — Online pet products retailer Chewy will open a $55 million distribution center in Salisbury, a city located roughly midway between Charlotte and Greensboro. The project is expected to bring 1,200 new jobs to the area. Local media outlet The Salisbury Post reports that the facility will span about 700,000 square feet, and that the groundbreaking will be held in May with completion slated for June 2020. The property will be the ninth fulfillment center in the country for Chewy, which is headquartered in Boston and Dania Beach, Fla. In April 2017, PetSmart acquired Chewy for a reported $3.35 billion.

April 22, 2019

Industrial Leasing Activity Massachusetts Northeast Office

R.W. Holmes Negotiates 14,011 SF Lease for Flex Space in Burlington, Massachusetts

by Taylor Williams April 22, 2019

BURLINGTON, MASS. — R.W. Holmes Commercial Real Estate has negotiated a 14,011-square-foot lease for flex space at 141 Middlesex Turnpike in Burlington, about 20 miles northwest of Boston. The tenant was Zimmer Northeast, a subsidiary of Zimmer Biomet (NYSE: ZBH), which manufactures and distributes orthopedics products. Mike Ogasapian and Garry Holmes of R.W. Holmes represented the tenant in the lease negotiations. Jordan Yarboro and Madison Chambers of JLL represented the landlord, The Berman Cos.

April 22, 2019

Kennedy-Greens-Distribution-Center-I-Houston

Development Industrial Texas

Clay Development Breaks Ground on 524,528 SF Spec Distribution Center in Houston

by Taylor Williams April 22, 2019

HOUSTON — Clay Development & Construction Inc. has broken ground on Kennedy Greens Distribution Center I, a 524,528-square-foot speculative industrial facility that will be located near George Bush Intercontinental Airport on Houston’s north side. The 29.2-acre site on which the facility will be situated is housed within Clay’s 145-acre Kennedy Greens South Business Park and allows for additional expansion of up to 500,000 square feet. The building will be designed as a cross-dock facility with 36-foot clear heights, 60-foot speed bays, 107 dock-high doors, 130-foot truck courts, 300 employee parking spaces and the option of 130 trailer parking spaces. Completion is slated for the fourth quarter. Clay will work with CBRE on marketing and leasing of the property. Trustmark Bank provided construction financing for the project.

April 22, 2019

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