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.
ATLANTA — The Atlanta office of Cushman & Wakefield has secured the $108.6 million refinancing of a 2.2 million-square-foot, eight-property industrial portfolio located across the United States. Mike Ryan, Brian Linnihan and Richard Henry of Cushman & Wakefield arranged the floating-rate loan on behalf of the borrower, Industrial Properties America III LLC, a joint venture between IDI Logistics and institutional investors advised by J.P. Morgan Asset Management. The portfolio includes 2124 Skyview Drive in Lithia Springs, Ga.; 11600 Miramar Parkway in Miramar, Fla.; 2501 S.W. 160th Ave. in Miramar; and 8425 Airways Blvd. in Southhaven, Miss. The other properties are located in Illinois, Ohio, Texas and California. At the time of sale, the portfolio was fully leased to 23 tenants.
ATLANTA — Lincoln Property Co. Southeast (LPC Southeast) has broken ground on Union 85 Distribution Center, a 243,540-square-foot speculative warehouse/distribution center in Atlanta. The facility will be located at 3725 Royal South Parkway, less than a half-mile from Interstate 85 within Atlanta’s I-85 South industrial submarket. The building will feature 32-foot clear heights, 38 dock-high doors, two drive-in doors, front-load configuration and 40 existing spaces for excess trailer storage. LPC Southeast will handle the project’s leasing assignment upon completion, which is scheduled for later this year. The company delivered Flat Shoals 85 Distribution Center at the end of 2017. The building is fully leased to Future Forwarding Co.
COLTON, CALIF. — Black Creek Group has purchased a three-building industrial portfolio totaling 743,381 square feet in Colton for an undisclosed price. The portfolio includes a 121,196-square-foot property located at 2036 Miguel Bustamante Parkway, a 174,995-square-foot building located at 2053 Miguel Bustamante Parkway and a 447,190-square-foot property located at 2163 S. Riverside Ave. The adjacent properties feature dock-high loading, ESFR sprinkler systems, minimum clear heights ranging from 32 feet to 36 feet, and state-of-the-art office space. Ken Anderson and Rick John of DAUM Commercial Real Estate Services, along with Barbara Emmons Perrier and Darla Longo of CBRE, represented the buyer and seller in the deal. The seller was an undisclosed REIT.
SAN DIEGO, CALIF. — MetroGroup Realty Finance has provided $21.9 million permanent acquisition financing for a R&D/flex corporate campus located at 10307 and 10309 Pacific Center Court in San Diego. The seven-year loan features a 30-year amortization, fixed interest rest and a loan-to-purchase-price ratio of 69 percent. Colony Northstar sold the property to a Newport Beach, Calif.-based private investor for an undisclosed price. Quantum Design International, a global scientific instrumentation manufacturer and distributor, occupies the 103,830-square-foot property. Michael Hartel of Colliers International represented the buyer in the acquisition transaction.
BRANSON, MO. — American Street Capital (ASC) has arranged a $3 million CMBS loan for the refinancing of a self-storage portfolio in Branson. The portfolio includes five facilities and 694 units spanning 127,449 square feet. The portfolio was over 95 percent occupied at the time of the loan closing. Igor Zhizhin of ASC arranged the 10-year loan, which features a 30-year amortization schedule.
MALVERN AND LANGHORNE, PA., FRANKLIN, MASS. — Goldman Sachs Asset Management Private Real Estate (GSAM) has acquired a portfolio of five industrial flex properties in suburban Philadelphia and Boston totaling 525,000 square feet for an undisclosed amount. The properties are located in Malvern and Langhorne Pa., and Franklin, Mass. The addition of the five properties brings GSAM Private Real Estate’s industrial portfolio in the Northeast and Mid-Atlantic regions to 13 properties totaling 2.4 million square feet. GSAM Private Real Estate represented itself in the transaction. The seller was not disclosed.
GARLAND, TEXAS — Stream Realty Partners has arranged the sale of a 54,000-square-foot industrial building located at 2601 W. Kingsley Road in the Dallas metro of Garland. Kingsley Industrial LLC sold the property to Snell Motor Co. Inc. for an undisclosed price. Matt Dornak and Ryan Wolcott of Stream Realty Partners brokered the sale.
STOCKBRIDGE, GA. — U-Haul Co. has acquired a 324,000-square-foot warehouse located at 471 Eagles Landing Parkway in Stockbridge, roughly 19 miles southeast of downtown Atlanta. Other terms of the deal were not disclosed. U-Haul Mobility & Storage at Eagles Landing will be repurposed to offer 1,800 indoor self-storage units for rent. The facility will include a mix of climate-controlled and non-climate-controlled units and security features. In addition, the warehouse will house a new regional office for U-Haul. The company’s operations will encompass 108,000 square feet, and the remaining 216,000 square feet will be available for lease. The facility will employ approximately 20 people when fully operational, and will feature a sidewalk expansion for customers who arrive by golf cart, an electrical charging station for golf carts and a walking and biking path. In the coming weeks, U-Haul will allocate warehouse space to store more than 300 U-Box portable moving and storage containers and lot space to accommodate 40 U-Haul truck boxes, providing immediate storage solutions for customers while self-storage rooms are under construction. A construction timeline was not disclosed.
