CROWN POINT, IND. — Saxum Real Estate has begun development of a 322,600-square-foot cold storage project for Arcadia Cold in Crown Point, a city in northwest Indiana. FCL Builders is the general contractor. The project will feature a clear height of 50 feet, ample dock space and dock doors to expedite distribution and container handling services, and convertible rooms with temperature capabilities between minus 10 and 38 degrees Fahrenheit. Completion is slated for the second quarter of 2026. Arcadia Cold specializes in providing third-party handling, storage, distribution and value-add services to the food industry and is the seventh-largest cold storage operator in the U.S., according to a release.
PHOENIX — CBRE has facilitated the sale-leaseback of the MarLam Industries Manufacturing portfolio in Phoenix. A joint venture led by Wentworth Property Co. acquired the asset from MarLam Industries for $17.5 million. Located at 2425 S. 10th St. and 834 E. Hammond Lane, the two adjacent buildings offer a total of 106,174 square feet. The 48,504-square-foot building on South 10th Street features 5,403 square feet of office space, 22-foot clear heights and 11 grade-level doors. The 47,438-square-foot facility on East Hammond Lane offers 20-foot clear heights, 11 grade-level doors and a 4,829-square-foot mezzanine office level. MarLam Industries, a manufacturer of laminate and cultured marble tops and tubs and fabricator of Corian and granite kitchen and bath countertops, leased back the portfolio as part of the transaction. Geoffrey Turbow, Anthony DeLorenzo and Matt Pourcho of CBRE represented the seller in the deal.
STRONGSVILLE, OHIO — Peak Construction Corp. has completed a 56,000-square-foot tenant improvement project for Blackhawk Industrial Distribution in Strongsville, a southern suburb of Cleveland. Peak previously constructed the 310,000-square-foot building on behalf of developer Scannell Properties. The property features a clear height of 32 feet, nine docks and 3,500 square feet of office space. HSB Architects & Engineers was the project architect.
HIALEAH, FLA. — CBRE has arranged the sale of Miami Midway Park, a four-building industrial park in Hialeah spanning 505,518 square feet. A real estate fund managed by Ares Management purchased the property from a joint venture partnership between Greystar and Butters Construction & Development for an undisclosed price. Jose Lobón, Frank Fallon, Trey Barry, Royce Rose, Devin White, Gabriel Braun and Daniel Sarmiento of CBRE represented the seller in the transaction. Affiliate firm Ares Industrial Management will manage Miami Midway Park on behalf of the new ownership. Delivered in second-quarter 2024, Miami Midway Park features 32-foot clear heights, 120 dock high doors, LED lighting and electric vehicle charging stations. The property was 76 percent leased at the time of sale, with 123,799 square feet of space available at the time of sale.
SALISBURY, MD. — St. John Properties Inc. has begun construction on Westwood Commerce Park, a three-building industrial project in Salisbury, approximately 30 miles west of Ocean City in Wicomico County. The first phase of construction, which will be built on a speculative basis, comprises two flex/research-and-development facilities spanning more than 70,000 square feet that will be located at the intersection of Ocean Gateway and Naylor Mill Road. St. John Properties plans to deliver Phase I by fourth-quarter 2025. The 16-acre development will also include a three-acre pad site that would be suitable for a gas station or convenience store, according to St. John Properties. The Baltimore-based developer anticipates Westwood Commerce Park to employ more than 400 people at full capacity.
HARRISON AND KEARNY, N.J. — NAI James E. Hanson has brokered the $156.3 million sale of a portfolio of six industrial outdoor storage (IOS) properties totaling 48.7 acres in Northern New Jersey. Four of the properties are located in Harrison, and the other two are located in Kearny. Scott Perkins, Christopher Todd, and William Ericksen of NAI Hanson represented the buyer, Chicago-based Ambient Capital Partners, in the transaction. The seller was not disclosed.
RUPERT, IDAHO — Mart Frozen Foods, a subsidiary of The Mart Group, has opened a $65 million high-tech food manufacturing facility in Rupert. Situated in Southern Idaho’s Magic Valley region, which leads the state’s agribusiness industry, the 100,000-square-foot plant produces and packages frozen, fully baked Idaho potatoes known as OH!Tatoes. The new facility is adjacent to The Mart Group’s headquarters, bringing the company’s total employment in Rupert to more than 230 people. The new Mart Frozen Foods facility will directly create 80 full-time jobs and have an estimated annual economic impact of $11.5 million.
ALVARADO, TEXAS — Dallas-based brokerage firm Bradford Commercial Real Estate Services has negotiated the sale of a 33,750-square-foot industrial complex in Alvarado, located southeast of Fort Worth. The property consists of three newly constructed buildings on a five-acre site that were 67 percent leased at the time of sale. Shane Benner of Bradford represented the buyer, an entity doing business as Blue Mound Business Park LLC, in the transaction. Jake Petrie of LanCarte Commercial represented the undisclosed seller.
ALLENTOWN, PA. — NAI Summit has brokered the sale of a 32,329-square-foot warehouse located at 801 W. Greenleaf St. in the Lehigh Valley city of Allentown. According to LoopNet Inc., the property was originally built in 1925 and renovated in 1990 and features a clear height of 18 feet. Mike Adams and Sarah Finney Miller of NAI Summit represented the seller, personal care products manufacturer Spartan Brands, in the transaction. The Allentown Economic Development Corp. purchased the building for $1.4 million.
LAS VEGAS — CommCap Advisors has arranged $7.2 million in refinancing for Spencer Street Industrial in the Las Vegas Airport submarket. The borrower was Spencer Street Investors LLC. The property consists of two single-story multi-tenant warehouse and distribution facilities totaling 162,342 rentable square feet. CommCap Advisors secured the full-term interest-only loan through one of CommCap’s correspondent life insurance companies.