Industrial

Marcus & Millichap Directs $9.7M Sale of Self-Storage Facility in Belfair, Washington

by Amy Works April 17, 2019

BELFAIR, WASH. — Marcus & Millichap has arranged the sale of All Star Self Storage, Boat & RV, a self-storage facility located at 19720 E. Highway 106 in Belfair. A regional investment group acquired the property from a local partnership for $9.7 million, or approximately $127 per rentable square foot. The five-parcel asset is situated on 12 acres and features 586 self-storage units, a 25,000-square-foot boat barn for indoor boat and vehicle storage and 120 uncovered parking spaces. The property was built in several phases between 1987 and 2003. Christopher Secreto of Marcus & Millichap represented the seller and secured the buyer in the deal.

April 17, 2019

Development Industrial Texas

Trammell Crow, Clarion Break Ground on Phase II of 900,000 SF Industrial Park in Austin

by Taylor Williams April 17, 2019

AUSTIN, TEXAS — A partnership between Trammell Crow Co. and Clarion Partners has broken ground on Phase II of Park 183, an industrial development in southeast Austin. Phase II includes an 85,000-square-foot building that is fully preleased to FedEx Corp. Park 183 will ultimately span more than 900,000 square feet of Class A space across seven buildings. Completion of Phase II is slated for the fourth quarter.

April 17, 2019

Acquisitions Industrial Texas

Avison Young Arranges Sale of 40,000 SF Industrial Building in Houston

by Taylor Williams April 17, 2019

HOUSTON — Avison Young has arranged the sale of a 40,000-square-foot industrial building located at 1690 North Loop West in Houston. Situated on 6.2 acres, the facility formerly served as a printing complex for local firm Greensheet Media. Todd Mason, Jeff Lindenberger, Richard Mason and Taylor Wilson of Avison Young represented the seller, Helen Gordon Interests Ltd., in the transaction. The buyer, GSD North Loop 610 LLC, plans to develop a self-storage facility on a portion of the property.

April 17, 2019

Acquisitions Georgia Industrial Iowa Southeast

Americold to Acquire Cloverleaf for $1.24B, Including 22 Cold Storage Facilities

by Alex Tostado April 16, 2019

ATLANTA AND SIOUX CITY, IOWA — Americold Realty Trust has entered into a definitive agreement to acquire Cloverleaf Cold Storage from the company’s management and an investor group led by private equity funds managed by Blackstone. The purchase price was $1.24 billion. Atlanta-based Americold will acquire 22 cold storage facilities in nine states in the Midwest and Southeast, 21 of which are owned by Cloverleaf and one is managed by the company, totaling 5.2 million refrigerated square feet. Sioux City, Iowa-based Cloverleaf is the fifth largest cold storage provider in the United States. The company acquired competitor Zero Mountain in January. Bank of America Merrill Lynch and Goldman Sachs & Co. LLC are Americold’s financial advisors in the transaction, and King & Spalding LLP is its legal advisor. Wells Fargo Securities and Deutsche Bank Securities Inc. are Cloverleaf and Blackstone’s financial advisors, and Kirkland & Ellis LLP is their legal advisor.

April 16, 2019

Industrial Leasing Activity Texas

Logistics Property Co. Negotiates 1.1 MSF Industrial Lease in South Dallas

by Taylor Williams April 16, 2019

DALLAS — Industrial development and investment firm Logistics Property Co. LLC has negotiated a 1.1 million-square-foot industrial lease at Southport Logistics Park, the Chicago-based company’s 252-acre development in south Dallas. The tenant is an undisclosed manufacturer of consumer-packaged goods. Kacy Jones and John Hendricks of CBRE represented Logistics Property Co. in the lease negotiations. Allen Gump, Lynn Reich and Suzanne Serino of Colliers International represented the tenant. At full buildout, Southport Logistics Park will house more than 3.55 million square feet of Class A space across four buildings.

April 16, 2019

Acquisitions Industrial Michigan Midwest

L. Mason Capitani CORFAC International Arranges Sale of 16,830 SF Industrial Building in Michigan

by Kristin Harlow April 16, 2019

SHELBY TOWNSHIP, MICH. — L. Mason Capitani CORFAC International has arranged the sale of a 16,830-square-foot industrial building located at 51255 Oro Drive in Shelby Township. The sales price was not disclosed. The buyer, Michigan Architectural Millwork, will use the building for the production of doors, plywood, moldings, hardwood boards and hardware. Jason Capitani and Joseph DePonio III of L. Mason Capitani represented both the buyer and the seller, JMJ Investment Co.

April 16, 2019

Development Industrial Nevada Western

Panattoni Development Completes Centennial Commerce Center in North Las Vegas

by Amy Works April 16, 2019

LAS VEGAS — Panattoni Development Co. has completed the construction of Centennial Commerce Center, a speculative industrial facility in North Las Vegas. Located at 6405 E. Centennial Parkway on 10.4 acres, the cross-docked 213,000-square-foot facility features 32-foot clear heights, ESFR sprinklers, LED warehouse lighting and flexible office build-outs. Valued at $16 million, the project will designed with flexibility to accommodate up to four 51,000-square-foot tenants. Speedway10 Industrial, a joint venture between LaSalle Investment Management and Panattoni Development, owns the industrial asset. Alston Construction served as general contractor, and Greg Tassi and Donna Alderson of CBRE are handling the leasing of the property.

April 16, 2019

Acquisitions California Industrial Western

Allstate Electric Buys 55,000 SF Industrial Building in Los Angeles for $9.6M

by Amy Works April 16, 2019

LOS ANGELES — Allstate Electric, a division of Regency Lighting, has purchased an industrial property, located at 9240 Jordan Ave. in the Chatsworth submarket of Los Angeles. SDG Jordan Associates LLC sold the property for $9.6 million. Allstate Electric, the buyer, has occupied the 55,000-square-foot property since 2016. Mike Tingus and Grant Fulkerson of Lee & Associates-LA North/Ventura, while Matthew Dierckman of CBRE represented the buyer in the transaction.

April 16, 2019

Development Industrial Kentucky Southeast

Aeroterm Begins Construction on 50,400 SF Industrial Facility at CVG Airport in Northern Kentucky

by Alex Tostado April 15, 2019

HEBRON, KY. — Aeroterm, a developer and owner of airport cargo facilities, has broken ground on a 50,400-square-foot industrial facility at Cincinnati/Northern Kentucky International Airport (CVG) in Hebron. FedEx will be the anchor tenant for the asset, and there is 12,000 square feet of available space for one or two additional tenants. The LEED-certified building offers insulated, pre-cast concrete panels and will be used for airside cargo operations. The facility can accommodate cargo, government users and other terminal support users such as flight kitchens or commissaries. Aeroterm expects to deliver the facility in November.

April 15, 2019

Illinois Industrial Leasing Activity Midwest

Lions Logistics Signs 25,054 SF Industrial Lease in Elk Grove Village, Illinois

by Kristin Harlow April 15, 2019

ELK GROVE VILLAGE, ILL. — Lions Logistics has signed a 25,054-square-foot industrial lease in Elk Grove Village. The 50,117-square-foot building, located at 1260 Lunt Ave., is now fully leased. Chris Lydon and Chris Tecu of Avison Young represented the landlord, CenterPoint Properties. Main Street Real Estate Group represented Lions Logistics, a third-party logistics company. The building includes 2,929 square feet of newly constructed office space as well as two interior docks and one drive-in door.

April 15, 2019

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