CHICAGO — A 981-unit, 65,000-square-foot self-storage facility is opening at 6000 W. Touhy Ave. in Chicago. CubeSmart Self Storage will manage the climate-controlled facility, which is expected to open in April. The property, owned by SPM Advisors LLC, was formerly home to a Frozen Ropes facility. Athletico Physical Therapy will remain a tenant at the property.
JACKSONVILLE, FLA. — Cushman & Wakefield has brokered the $25.3 million sale of Interstate South Commerce Center, a 260,272-square-foot industrial park located at 9440-9456 Phillips Highway in Jacksonville. Karl Johnson, Mike Davis, Rick Brugge and Michael Lerner of Cushman & Wakefield arranged the transaction on behalf of the seller, GCP-Interstate South LLC, an affiliate of Birmingham-based Graham Commercial Properties (GCP). Kissimmee Land Co. LLC, a Fort Family Investments partnership based in Jacksonville, acquired the asset. Interstate South Commerce Center includes six small-bay, rear-load, dock-high buildings that were developed between 1986 and 1989. At the time of sale, the property was 88.5 percent leased to 31 tenants, including Lennar, Honeywell, Dal-Tile and Lincare.
SAN DIEGO — Murphy Development Co. (MDC) has completed the disposition of Siempre Viva Business Park Building 16, a 165,763-square-foot industrial facility located at 8411 Siempre Viva Road in San Diego. Ajinomoto Windsor acquired the property for $26.5 million. MDC originally developed the facility as a build-to-suit for Circle Foods, a subsidiary of Stephan Bronfman’s Claridge Inc. Tyson Foods acquired Circle Foods in 2013, assuming the long-term lease with MDC. Ajinomoto Windsor simultaneously purchased both Circle Foods from Tyson and Building 16 from MDC. Tyson Foods is scheduled to cease operations in April 2018. After food processing renovations and new equipment installation, Ajinomoto Windsor plans to expand food-processing operations at the facility. The building features a 32-foot minimum clear height, 8,000 amps of 277/480 volt power, ESFR sprinklers, manufacturing sewer and water capacity, concrete truck courts, wide column spacing and high dock door ratios.
UPLAND, CALIF. — US Storage Centers has acquired a self-storage facility located at 1808 W. Foothill Blvd. in Upland. Foothill You-Stor sold the property for an undisclosed price. The 45,452-square-foot property features 483 self-storage units with drive-up access, video monitoring, gated access and RV/boat/auto storage. US Storage Centers currently owns and operates 43 self-storage facilities in Southern California. Garrett Sholer of Lee & Associates represented the buyer, while Travis Allan, also of Lee & Associates, represented the seller in the deal.
CHICAGO — PGIM Real Estate Finance and the New York State Teachers’ Retirement System (NYSTRS) have provided $1.1 billion in financing for the acquisition of a 146-property industrial portfolio. Each entity provided $550 million. The portfolio comprises more than 21.7 million square feet with the largest concentrations of properties in Chicago, Dallas, Baltimore-Washington, D.C. and southern California. The properties are home to 327 tenants, including Amazon, FedEx, The Home Depot and Coca-Cola. On average, the buildings are 20 years old and have a clear height of 27 feet.
EAST RUTHERFORD, N.J. — Duke Realty has acquired six industrial buildings and two land sites for future development along the I-95 corridor in central New Jersey. Three of the six buildings are located in Cranbury, South Brunswick, and Carteret and three buildings are located in Perth Amboy. Together, the six properties total 3.1 million square feet of industrial space and increase Duke Realty’s New Jersey industrial portfolio to 5.6 million square feet. Development has already begun on a 661,000-square-foot warehouse on one of the acquired land sites at 429 Delancy St. in Newark and a 194,000-square-foot warehouse is also proposed at the second land site, 5 Ethel Blvd. in Wood-Ridge. Duke Realty’s New Jersey office is located in East Rutherford.
NEWBURGH, N.Y. — The Stubblebine Co./CORFAC International has arranged a 180,000-square-foot industrial lease for Gekay Sales & Service Co. at 3 Enterprise Drive in Newburgh. Gekay specializes in fountain system repairs in the soft drink and vending machine industries. David and James Stubblebine of Stubblebine Co. represented the tenant while Art Ross and Lisa Ann Pollakowski of Newmark Knight Frank represented the landlord, Newburgh Industrial Associates. The property, which features 24-foot ceiling heights and 33 loading docks, was previously a distribution facility and is located seven miles east of Stewart International Airport.
AUSTIN, TEXAS — The Jenkins Organization, a Houston-based developer and operator of self-storage facilities, will open ATX Storage, a 1,022-unit facility in Austin, on March 31. Construction of the property, which features 110,025 square feet of net rentable space, began in March 2017. The Jenkins Organization will also open another Austin facility, the 736-unit Lakeline Storage, on March 31. With these two facilities coming on line, the company now operates 45 properties across five states.
RICHARDSON, TEXAS — A subsidiary of Hartman Income REIT Management Inc. has acquired Richardson Tech Center, a 96,660-square-foot flex property in Richardson, a northeastern suburb of Dallas. The multi-tenant property consists of four buildings. Zane Marcell and Dustin Volz of JLL represented the undisclosed seller in the transaction. David Wheeler and Russell Turman represented Hartman internally. HFF arranged acquisition financing for the deal through Southside Bank.
DALLAS — Dallas-based brokerage firm Henry S. Miller (HSM) has secured a 39,646-square-foot industrial lease in Dallas for ABC Supply Co. Inc., a wholesale distributor of roofing and siding products. Dan Spika of HSM represented ABC Supply in the lease negotiations for the warehouse space at 4884 Duncanville Road. Matt Elliott of NAI Robert Lynn represented the landlord, Texas Industrial Development LLC. The property features 1,380 square feet of office space, seven dock-high doors and access to Interstate 20 and U.S. Highway 67.