Industrial

15240-15250-Nelson-Ave-City-of-Industry-CA

DAUM Commercial Negotiates Sale of 64,000 SF Industrial Property in Los Angeles County for $11.5M

by Amy Works April 15, 2019

CITY OF INDUSTRY, CALIF. — DAUM Commercial Real Estate Services has brokered the sale of an industrial warehouse facility located at 15240-15250 Nelson Ave. in City of Industry. South El Monte, Calif.-based Art Weiss Industrial Properties sold the property to Max Sales Group for $11.5 million. The buyer is a wholesale manufacturer of products, including consumer electronics and home, auto, kitchen and pet accessories. The seller built the 64,000-square-foot asset in 1979. The warehouse features 24-foot interior clearance, nine loading docks, two ground-level doors, 4,000 square feet of office space and the option for a two-tenant layout. Charles Johnson II of DAUM handled the transaction.

April 15, 2019

Acquisitions California Industrial Western

Partners Capital Acquires Value-Add Industrial Asset in Southern California

by Amy Works April 15, 2019

BELL GARDENS, CALIF. — Partners Capital has purchased an industrial asset, located at 6855 Suva St. in Bell Gardens, for an undisclosed price. Situated on 2 acres, the property features two buildings totaling approximately 36,000 square feet. Remy Moses of Lee & Associates represented the buyer in the deal. Additional terms of the deal were not disclosed.

April 15, 2019

Acquisitions Industrial Massachusetts Northeast

Marcus & Millichap Orchestrates Sale of 83,271 SF Self-Storage Facility in Massachusetts

by David Cohen April 12, 2019

NORWOOD, MASS — Marcus & Millichap has arranged the sale of Extra Space Storage, an 83,271-square-foot self-storage facility in Norwood. The sales price was undisclosed. Located at 1450 Boston Providence Turnpike, the facility opened in 2016 and is currently 85 percent occupied. The property consists of 1,011 climate-controlled units. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a limited liability company. The buyer was also a limited liability company.

April 12, 2019

Acquisitions Industrial Texas

REV Recreation Group Sells 58,736 SF Service Center in Alvarado, Texas

by Taylor Williams April 12, 2019

ALVARADO, TEXAS — REV Recreation Group (NYSE: REGV), a Milwaukee-based manufacturer of emergency and recreational vehicles, has sold a 58,736-square-foot service center in Alvarado, about 30 miles south of Fort Worth. The property, which includes 10,156 square feet of office space, was built in 2008 and expanded in 2017. The sale also includes 12 acres of land. Dan Spika of Henry S. Miller Brokerage represented REV Recreation Group in the sale. Mark Wussow of Commercial Real Estate Services LLC represented the buyer, Illinois-based National Retail Properties LP.

April 12, 2019

California Industrial Loans Multifamily Western

Continental Partners Secures $15.8M in Financing for Four Southern California Assets

by Amy Works April 12, 2019

LOS ANGELES AND MOORPARK, CALIF. — Continental Partners has arranged a total of $15.8 million in financing across two transactions in Southern California. Zalmi Klyne of Continental Partners handled the transactions. Continental Partners secured $9 million in refinancing for a 41-unit, three-property multifamily portfolio in South Los Angeles. The financing allowed the undisclosed sponsor to cash out 90 percent equity. Previously, the firm arranged a bridge loan for the purchase of the assets in December 2017. The new 30-year loan is priced at rate of 4.61 percent with three years of interest-only payments and a loan-to-value ratio of 70 percent. The company also arranged $6.8 million in cash-out refinancing for a 105,000-square-foot industrial building in Moorpark. The firm previously secured a bridge loan for the acquisition of the property in October 2017. The loan was 98.5 percent of the original purchase price. The new financing features a seven-year term with a five-year fixed interest rate. The loan-to-value ratio is 70 percent.

April 12, 2019

Acquisitions Industrial Midwest Wisconsin

Dickman Co. Negotiates Sale of 245,000 SF Industrial Building in Watertown, Wisconsin

by Kristin Harlow April 12, 2019

WATERTOWN, WIS. — The Dickman Company Inc./CORFAC International has negotiated the sale of a 245,000-square-foot industrial building in Watertown for an undisclosed price. The property is situated at 1141 S. 10th St. in Watertown, about 50 miles west of Milwaukee. TJ Huenerbein and Nick Keys of Dickman brokered the transaction. TJW Plant 10 LLC purchased the building from Midland Stamping and Fabricating Corp.

April 12, 2019

Acquisitions Industrial Midwest Wisconsin

Colliers Brokers $4.5M Sale of King Juice Co. Headquarters in Milwaukee

by Kristin Harlow April 12, 2019

MILWAUKEE — Colliers International has brokered the sale of the King Juice Co. headquarters in Milwaukee for $4.5 million. The 114,000-square-foot beverage manufacturing property is located at 851 W. Grange Ave. King Juice Co., which makes lemonades, iced teas and fruit beverages, has a long-term lease at the property. Tom Shepherd, Jennifer Huber-Bullock and Steve Sewart of Colliers represented the seller, Milwaukee-based Salvatore B. Purpero Living Trust. New York-based BBS Grange Road Investors LLC purchased the asset. The buyer plans to add a new parking lot and upgrade the office finishes.

April 12, 2019

Development Illinois Industrial Midwest

Meridian Breaks Ground on 84,000 SF Meat Processing Facility in Chicago

by Kristin Harlow April 11, 2019

CHICAGO — Meridian Design Build has broken ground on an 84,000-square-foot USDA meat processing plant for Amylu Foods in Chicago’s Stockyards Industrial Park. The new sausage processing facility will include 56,000 square feet of production and cold-storage space and a freezer. The property will also include 16,500 square feet of corporate office space, including separate raw and cooked facilities, test kitchens and a laboratory. An expandable ammonia refrigeration plant will accommodate plant cooling and production loads. Harris Architects and Kimley-Horn make up the project team.

April 11, 2019

Development Industrial Texas

CT Realty Begins Construction of 882,565 SF Logistics Center at AllianceTexas in Fort Worth

by Taylor Williams April 11, 2019

FORT WORTH, TEXAS — CT Realty has begun construction of Westport Logistics Center, an 882,565-square-foot industrial project located within the Alliance submarket of Fort Worth. The facility, which is being developed in a joint venture with Mitsubishi’s Diamond Realty Investments, will be situated within a mile of Interstate 35 and adjacent to Fort Worth Alliance Airport, as well as the BNSF intermodal railway. The project will consist of two buildings in either single-sided or cross-dock configurations, with 32- and 36-foot clear heights, 185-foot truck courts and build-to-suit office spaces. Completion is slated for the fourth quarter. Westport Logistics Center is CT Realty’s fourth major industrial development in the DFW metroplex.

April 11, 2019

Acquisitions Industrial Massachusetts Northeast

Marcus & Millichap Negotiates $2.4M Sale of Industrial Facility in Massachusetts

by David Cohen April 11, 2019

WORCESTER, MASS. — Marcus & Millichap has negotiated the $2.4M sale of an industrial facility in Massachusetts. Located at 344 Franklin St., the 300,000-square-foot property was 60 percent occupied at the time of sale. Harrison Klein and Matthew Pierce in Marcus & Millichap’s Boston office represented the undisclosed seller in the transaction. An existing tenant purchased the property pursuant to a right of first refusal.

April 11, 2019

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