Industrial

Custer-Storage-&-Business-Center-McKinney-Texas

Strategic Storage Growth Trust Acquires 730-Unit Facility in Metro Dallas

by Taylor Williams May 4, 2018

MCKINNEY, TEXAS — Strategic Growth Storage Trust Inc., a REIT sponsored by California-based SmartStop Asset Management LLC, has acquired Custer Storage & Business Center, a 730-unit self-storage facility in the northern Dallas metro of McKinney. Built in 2015, the 95,000-square-foot property includes 10 single-story buildings with approximately 230 drive-up units and 500 first-floor units that are climate-controlled. The seller and sales price were not disclosed. With this acquisition, Strategic Growth Storage Trust’s portfolio consists of 26 self-storage properties totaling roughly 17,300 units and 1.9 million net rentable square feet across 10 states.

May 4, 2018

Development Georgia Industrial Southeast

Core5 to Build $52M Industrial Facility, Corporate Headquarters for Beverage Distributor in Metro Atlanta

by Camren Skelton May 4, 2018

AUSTELL, GA. — Atlanta-based Core5 Industrial Partners has unveiled plans to construct a 601,350-square-foot build-to-suit facility for Empire Distributors at 685 Hartman Road in Austell, roughly 18 miles west of Atlanta. Total project costs are estimated at more than $52 million. Upon completion of the property in the fourth quarter, the beverage distributor will relocate to the new facility from its current 300,000-square-foot location at Atlanta Industrial Park. The new climate-controlled facility will house Empire’s corporate headquarters and regional distribution operations, and will include 80,000 square feet of two-story office space. Empire will move more than 440 employees to the new facility, with anticipated growth to more than 510 employees within 10 years. Randall Paulson Architects and Southeast Engineering Inc. are designing the building, Plateau Excavating is the site work contractor, and KBDG Inc. is the general contractor. Bilijack Bell of Wilson, Hull & Real Estate represented Core5 in the land acquisition, and Blaine Kelley of CBRE represented Empire in the acquisition of the facility.

May 4, 2018

Acquisitions Georgia Industrial Self-Storage Southeast

Marcus & Millichap Arranges $19.4M Sale of Self-Storage Property in Metro Atlanta

by Camren Skelton May 4, 2018

ROSWELL, GA. — Marcus & Millichap has arranged the $19.4 million sale of Space Shop Self Storage, a 1,174-unit self-storage property in Roswell, located roughly 23 miles north of Atlanta. Stacey Gorman of Marcus & Millichap arranged the transaction on behalf of the seller, Stein Investment Group, and procured the buyer, a regional self-storage operator. Space Shop Self Storage was constructed in 1995 and was recently renovated and expanded. The property is situated on six acres along Alpharetta Highway.

May 4, 2018

Industrial Loans New Jersey Northeast

HFF Arranges $36.7M in Permanent Financing for Industrial Facility in Secaucus

by David Cohen May 3, 2018

SECAUCUS, N.J. — HFF has arranged $36.7 million in permanent financing for a newly constructed, two-building industrial facility at One County Road in Secaucus. Completed earlier this year, the 240,317-square-foot facility features a 32-foot clear height, 180-foot truck courts and 50-by-35 foot column spacing. One County Road is situated on 20 acres in the Meadowlands industrial market. The HFF team worked on behalf of the borrower, Bhasin Properties, to place the 15-year, fixed-rate loan with Allianz Real Estate of America. Loan proceeds will be used to take out an existing construction loan, which was also arranged by HFF.

May 3, 2018

Acquisitions California Industrial Western

Avison Young Negotiates $4.8M Sale of Multi-Tenant Industrial Building in Cathedral City, California

by Amy Works May 3, 2018

CATHEDRAL CITY, CALIF. — Avison Young has arranged the sale of a multi-tenant industrial building located at 68945 Perez Road in Cathedral City. North First Street Properties LP sold the property to Cathedral City 2 LLC for $4.8 million. Built in 1989, the 29,400-square-foot property is situated on 1.7 acres of land with frontage and access along Perez Road. At the time of sale, the property was full leased to a variety of tenants, including Caliber Collision Centers, Su Casa Imports and additional space entitled for cannabis manufacturing. Keith Kropfl and Michael Ganz of Avison Young, along with Thom Olson of Creatus Properties, represented the buyer, while Coldwell Banker represented the seller in the transaction.

May 3, 2018

Acquisitions Arizona Industrial Leasing Activity Western

Brennan Investment Group Completes Acquisition, Leaseback of 79,968 SF Industrial Facility in Phoenix

by Amy Works May 3, 2018

PHOENIX — Brennan Investment Group has acquired a two-building industrial facility, located at 4245 N. 40th Ave. in Phoenix, for an undisclosed price. The 79,968-square-foot property was simultaneously leased back to the seller, F&B Manufacturing, a provider of parts for the aerospace, automotive, power generation and semi-conductor industries. F&B Manufacturing uses the facility at its headquarters and for manufacturing and distribution.

May 3, 2018

Acquisitions Industrial South Carolina Southeast

HFF Brokers Sale of 451,370 SF Industrial Facility Near Charleston

by Camren Skelton May 3, 2018

SUMMERVILLE, S.C. — HFF has brokered the sale of Newton Way Industrial Center, a 451,370-square-foot distribution and manufacturing facility located in Summervillle, roughly 22 miles from the Port of Charleston. Chris Norvell and Patrick Nally of HFF arranged the transaction on behalf of the seller, Gramercy Property Trust. Bob Barrineau and Brendan Redeyoff of CBRE represented the undisclosed buyer, a user that plans to also occupy the building. Newton Way Industrial Center was constructed in 2007 and features 30-foot clear heights, 37 dock-high loading doors, 22 drive-in doors, parking and storing for up to 100 trailers, 513 parking space and 17,900 square feet of office space. In addition, the property has Foreign Trade Zone status, which provides tenants with the ability to facilitate international mercantile activity if needed.

May 3, 2018

Development Industrial Texas

Carson Cos. Breaks Ground on Four Industrial Buildings in Metro Houston

by Taylor Williams May 3, 2018

PASADENA, TEXAS — The Carson Cos., a California-based industrial developer, has broken ground on four buildings within Bayport Industrial Park in Pasadena, a southeastern suburb of Houston. The groundbreakings mark Phase II of an industrial development known as Carson Bayport. The project will deliver one 207,000-square-foot cross-dock warehouse and three 25,000-square-foot crane-ready buildings, all four of which will be developed on a speculative basis. The largest building, completion of which is slated for the fourth quarter, will feature 62 dock-high doors, 30-foot clear heights, an ESFR sprinkler system, 154 car parking spaces and a fenced-in truck court.

May 3, 2018

CubeSmart-Self-Storage-Missouri-City-Texas

Acquisitions Industrial Self-Storage Texas

Bellomy Arranges Sale of 434-Unit CubeSmart Self-Storage Facility in Metro Houston

by Taylor Williams May 3, 2018

MISSOURI CITY, TEXAS — Bellomy & Co. has arranged the sale of a 434-unit self-storage facility in the southeastern Houston metro of Missouri City that is managed by Pennsylvania-based REIT CubeSmart. The property features both climate- and non-climate-controlled units totaling 54,400 square feet of net rentable space with room for expansion. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. represented the seller, Austin-based Yellowstone Investments, in the transaction. The trio also procured the undisclosed, Houston-based buyer.

May 3, 2018

Industrial Loans Michigan Midwest

Alliant Provides $3.5M Refinancing for Industrial Property in Plymouth, Michigan

by Kristin Harlow May 3, 2018

PLYMOUTH, MICH. — Alliant Credit Union has provided a $3.5 million loan for the refinancing of a 41,400-square-foot industrial property in Plymouth, about 25 miles west of Detroit. The research and development property is located within Metro West Technology Park. The 10-year loan features a 25-year amortization schedule. Chris Charboneau of Walker & Dunlop arranged the loan. The borrower was not disclosed.

May 3, 2018

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