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Industrial

DevelopmentIndustrialKentuckySoutheast

CRG, STAG Industrial Break Ground on 500,240 SF Facility in Shepherdsville, Kentucky

by John Nelson

SHEPHERDSVILLE, KY. — CRG and STAG Industrial have broken ground on Park Loop @ I-65, a 500,240-square-foot speculative industrial facility located at 650 Park Loop Road in Shepherdsville. The project is situated on a 42.5-acre site one mile east of I-65 and 20 miles south of Louisville, Ky. Park Loop @ I-65 will feature 40-foot clear heights, 96 dock doors, four drive-in doors, 185-foot-deep truck courts, ESFR sprinklers, LED lighting, trailer storage and parking for 310 vehicles. CRG and STAG Industrial plan to deliver the facility in early 2026. The developers have tapped Alex Grove and Doug Butcher of CBRE to market and lease the project. The design-build team includes Clayco (CRG’s parent company) and Lamar Johnson Collaborative.

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105-Baker-Hollow-Road-Windsor-Connecticut
AcquisitionsConnecticutIndustrialNortheast

JLL Brokers $25.3M Sale of Warehouse in Windsor, Connecticut

by Taylor Williams

WINDSOR, CONN. — JLL has brokered the $25.3 million sale of a 165,625-square-foot warehouse in Windsor, located just outside of Hartford. The building at 105 Baker Hollow Road was completed in 2022 and features 32-foot clear height, 38 loading docks, one drive-in door and parking for 117 cars and 58 trailers. Michael Restivo, David Coffman and Tommy Hovey of JLL represented the seller, a joint venture between Condyne Capital Partners and an account managed by UBS Realty Investors, in the transaction. The buyer was Missouri-based NorthPoint Development.

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Hannover-Industrial-Park-Fremont-CA
AcquisitionsCaliforniaIndustrialWestern

BKM Capital Partners Buys Hannover Industrial Park in Fremont, California for $43M

by Amy Works

FREMONT, CALIF. — BKM Capital Partners, on behalf of BKM Industrial Value Fund III, has acquired Hannover Industrial Park in Fremont for $43 million. An undisclosed seller sold the asset in an off-market transaction. Located in Silicon Valley’s I-880 Corridor, the 165,243-square-foot park consists of six buildings housing nine units with an average size of 18,360 square feet. The asset features a 14 percent overall office component, as well as a secured 67,000-square-foot paved yard. At the time of sale, Hannover Industrial Park was 74 percent occupied. BKM plans to invest $1.3 million in targeted capital improvements to reposition the property and drive tenant demand. Upgrades will include exterior paint, signage, landscaping upgrades, LED warehouse lighting and speculative tenant improvements for the three vacant suites. The asset is located at 4755-4900 Hannover Place and 4377 and 43815 S. Grimmer Blvd.

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1819-E-St-Sacramento-CA
AcquisitionsCaliforniaIndustrialOfficeWestern

Marcus & Millichap Arranges Sale of 9,600 SF Flex Property in Midtown Sacramento

by Amy Works

SACRAMENTO, CALIF. — Marcus & Millichap has arranged the sale of a single-tenant flex property located in midtown Sacramento. Toms Printing sold the asset to Flower Fist Art Market for $1.7 million. Constructed in 1966, the 9,600-square-foot building is located at 1819 E. St. The seller has operated its business at the location since 1989 until closing in 2015. James Beeghly, Russ Moroz, Christopher Drake, Adbullah Sulaiman and Matt Sulaiman of Marcus & Millichap represented the seller in the deal.

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DevelopmentIllinoisIndustrialMidwest

Freight Union to Build 61,858 SF Maintenance Facility in Pingree Grove, Illinois

by Kristin Harlow

PINGREE GROVE, ILL. — Freight Union Inc. will build a 61,858-square-foot maintenance facility with 30 repair bays, two docks and 238 trailer positions in Pingree Grove, a far northwest suburb of Chicago. Cory Kay and Mike DeSerto of Entre Commercial Realty represented Freight Union in the transaction, which marks the second build-to-suit project the Entre team has completed for the tenant. Freight Union built its first facility in Hampshire, Ill., in 2023. The project in Pingree Grove will serve as Freight Union’s new corporate headquarters. Entre procured the development by assembling 11 acres in four separate transactions and obtaining use approval for transportation, truck maintenance and trailer parking.

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AcquisitionsIndustrialSelf-StorageTexas

SmartStop Self Storage REIT Buys 3,800-Unit Portfolio in Greater Houston

by Taylor Williams

LADERA RANCH, CALIF. — California-based SmartStop Self Storage REIT (NYSE: SMA) has purchased a portfolio of five facilities totaling approximately 3,800 units in the greater Houston area. The portfolio totals roughly 420,000 net rentable square feet. The properties are located at 2412 W. Holcombe Blvd. on the city’s west side; 21836 Holzwarth Road in the northern suburb of Spring; 9040 Louetta Road in Spring; 32620 FM 2978 in the northwestern suburb of Magnolia; and 18250 I-45 S. in Shenandoah, about 35 miles north of downtown Houston. The seller was not formally named, but the press release identified  Kathy and Scott Tautenhahn of Amazing Spaces Storage Centers as the developers of the portfolio. The release also credited Aaron Swerdlin of Newmark as instrumental to the transaction.

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IndustrialLeasing ActivityTexas

Fitness Equipment Provider Signs 17,646 SF Industrial Lease in North Houston

by Taylor Williams

HOUSTON — BeFitNow Canada Inc., a wholesaler of exercise machines, has signed a 17,646-square-foot industrial lease in North Houston. The space is located within Vantage Parkway Business Park, which according to LoopNet Inc. consists of 10 buildings on a 15-acre site. Jason Gibbons, Chase Tucker and Tyler Holt of local brokerage firm Finial Group represented the undisclosed landlord in the lease negotiations. The tenant representative was not disclosed.

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IndustrialLoansNew JerseyNortheast

JLL Arranges $22.8M Loan for Refinancing of Industrial Property in Wall Township, New Jersey

by Taylor Williams

WALL TOWNSHIP, N.J. — JLL has arranged a $22.8 million loan for the refinancing of a 189,836-square-foot industrial property in Wall Township, located in coastal New Jersey. Built in phases between 2001 and 2006, the property at 1800 Route 34 consists of four buildings on an 11-acre site that feature clear heights of 16 feet, five dock-high doors, two drive-in doors and a total of 1,140 car parking spaces. Michael Klein, Max Custer, Ryan Carroll and Christian Badalamenti of JLL arranged the 10-year, fixed-rate loan through Grant Street Funding on behalf of the owner, The Donato Group. The property was fully leased at the time of the loan closing to tenants in field such as engineering, construction, healthcare and manufacturing.

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IndustrialIowaLoansMidwest

Gantry Secures $20M Permanent Loan for Amazon Distribution Center in Iowa City

by Kristin Harlow

IOWA CITY, IOWA — Gantry has secured a $20 million permanent loan to refinance a renovated warehouse located at 2500 Heinz Road in Iowa City. The 346,062-square-foot distribution center is fully leased to Amazon for use as a regional delivery station serving the Cedar Rapids and Iowa City metropolitan areas. The facility occupies a nearly 40-acre site zoned for industrial use with parking, trailer storage and room for expansion. Tony Kaufmann and Joe Foley of Gantry represented the borrower, a private real estate investor. A credit union provided the 10-year, fixed-rate loan, which features partial interest-only payments and no prepayment penalties.

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DevelopmentGeorgiaIndustrialSoutheast

IPA Secures $77.3M Construction Financing for Industrial Facility in Savannah

by John Nelson

SAVANNAH, GA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has secured $77.3 million in construction financing for Central Port Logistics Tract 3, an industrial development in Savannah. The property, which is situated within the Central Port Logistics Center industrial park near the Port of Savannah, will comprise three speculative industrial facilities totaling 1.2 million square feet. Sunny Sajnani and Travis Headapohl of IPA’s Dallas office arranged the non-recourse through an undisclosed life insurance company on behalf of the borrower, Capital Development Partners. The developer expects Central Port Logistics Tract 3 to deliver and be fully occupied by November 2026.

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