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Industrial

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AcquisitionsIndustrialSelf-StorageTexas

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

by Taylor Williams

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.

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IndustrialLoansMichiganMidwest

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

by Kristin Harlow

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.

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IndustrialKansasLeasing ActivityMidwest

Professional Packaging Systems Signs 247,589 SF Industrial Lease in Olathe, Kansas

by Kristin Harlow

OLATHE, KAN. — Professional Packaging Systems LLC has signed a 247,589-square-foot industrial lease in Olathe. The distributor of packaging equipment will occupy space at 16231 S. Lone Elm Road. Ed Elder and John Stafford of Colliers International represented the landlord, STAG Industrial Holdings LLC. Mike Mitchelson of CBRE represented the tenant.

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DevelopmentIndustrialTexas

Jackson-Shaw, Thackeray Begin Work on 320,000 SF Industrial Facility in Metro Houston

by Taylor Williams

HUMBLE, TEXAS — A partnership between two Dallas-based companies, developer Jackson-Shaw and investment firm Thackeray Partners, has begun work on Parc Air 59, a 320,000-square-foot industrial facility in the northern Houston metro of Humble. The Class A development will consist of a 160,000-square-foot, cross-dock building and two 80,000-square-foot single-load buildings. Features will include 28- and 32-foot clear heights, ESFR sprinklers and abundant trailer parking. Arch-Con Corp. is serving as general contractor for the project, which is scheduled for a fourth-quarter completion. Powers Brown is handling design of the project and Kimley-Horn is serving as civil engineer. Comerica is providing construction financing and Cushman & Wakefield will lease and manage the property.

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AcquisitionsIndustrialRetailTexas

Matthews Commercial Arranges Sale of Retail, Industrial Assets in Dallas Area

by Taylor Williams

ARLINGTON AND FARMERS BRANCH, TEXAS — Matthews Commercial Group, a Dallas-based brokerage firm, has arranged the sale of two commercial properties in the Dallas area. Eliud Sangabriel of Matthews represented the seller in the disposition of a 12,000-square-foot retail center in Arlington, which was built in 2006, and a 15,000-square-foot industrial building in Farmers Branch. Jeremy Mercer of Mercer Cos. represented the buyer of the industrial property. Other terms of sale were not disclosed

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DevelopmentFloridaIndustrialSoutheast

McCraney Acquires 43.9 Acres Near Orlando for 652,696 SF Industrial Development

by Camren Skelton

OCOEE, FLA. — McCraney Property Co. has acquired 43.9 acres in Ocoee, roughly 12 miles west of Orlando, with plans to develop a 652,696-square-foot industrial park. Dubbed Distribution 429, the development will include three buildings: Building 100, totaling 104,950 square feet; Building 200, totaling 145,164 square feet; and Building 300, totaling 402,582 square feet. William “Bo” Bradford of Lee & Associates represented the undisclosed seller in the land sale. McCraney expects to break ground on the development later this month. The buildings will target end-users requiring freight forwarding, third-party logistics and fulfillment needs.

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IllinoisIndustrialLeasing ActivityMidwest

King Solutions Signs 160,669 SF Industrial Lease in Glendale Heights, Illinois

by Kristin Harlow

GLENDALE HEIGHTS, ILL. — King Solutions Inc. has signed a 160,669-square-foot industrial lease in Glendale Heights, about 30 miles west of Chicago. The property is located at 500 Regency Drive. This is the first location in the Chicago area for the asset-based 3PL provider of freight transportation management, retail project logistics, order fulfillment and warehousing services. Built on 9.4 acres in 1989, the warehouse features a clear height of 25 feet, seven exterior docks, one interior dock and two drive-in doors. The property can accommodate parking for 200 cars. Michael Morgan, Jim Herbst and Brian Netzky of Colliers International represented King Solutions in the lease transaction. Jeff Janda of Lee & Associates represented the landlord, Gateway.

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IllinoisIndustrialLoansMidwest

Cohen Financial Secures $5.8M Refinancing for Industrial Property in Chicago

by Kristin Harlow

CHICAGO — Cohen Financial, a division of SunTrust Bank, has secured a $5.8 million loan for the refinancing of Workshop 4200 located at 4200 W. Diversey Ave. in Chicago. The 153,000-square-foot industrial property has been renovated into a workshop for creative and artisan tenants such as photographers, visual and sculptural artists, candle makers, coffee roasters and furniture makers. Workshop 4200 features a gallery space in the common area that hosts events, meetings, happy hours and showcases tenant artwork. Many of the artist tenants have relocated to the building from other properties in the city. Dan Rosenberg and Matt Terpstra of Cohen Financial arranged the loan with Morgan Stanley.

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AcquisitionsIndustrialNew JerseyNortheast

Stro Companies Acquires 45,000 SF Industrial Building in Elmwood Park

by David Cohen

ELMWOOD PARK, N.J. — The Stro Companies has acquired 475 Mola Boulevard, a 45,000-square-foot industrial building in Elmwood Park for $4.1 million. SB One Bank provided the acquisition financing. The seller was an owner occupant. Stro plans to relaunch the asset with a complete reposition and upgrade program, including interior and exterior improvements that will subdivide the existing two units into four. Currently 32,000 square feet of the building sits vacant.

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AcquisitionsIndustrialNew JerseyNortheast

Marcus & Millichap Negotiates $1M Sale of Industrial Building in Hackensack

by David Cohen

HACKENSACK, N.J. — Marcus & Millichap has negotiated the sale of a 7,200-square-foot industrial property in Hackensack for $1 million. The building is located at 174 Lodi St. in Hackensack, 14 miles northeast of Manhattan. The sole tenant of the building is a laundry services company. Steve Lim of Marcus & Millichap represented the seller in the transaction, a private investor and the buyer, also a private investor.

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