AUSTIN, TEXAS — U.S. Storage Centers has acquired a 379-unit self-storage facility located at 5405 Wasson Road in Austin. With the acquisition of this property, which features climate-controlled units, drive-up access and vehicle storage spaces, U.S. Storage Centers now owns and operates 20 facilities in Texas. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. represented the seller, Move It Self Storage, in the transaction. The buyer was self-represented.
SPARTANBURG, S.C. — Columbia-based Red Rock Developments has unveiled plans to develop Smith Farms Industrial Park, a 5.9 million-square-foot industrial project in Upstate South Carolina’s Spartanburg County. The development will be located on 475 acres at the intersection of Highway 101 and Reidville Road, roughly three miles from Interstate 85 and eight miles from the Greenville/Spartanburg International Airport. According to the developer’s site plans, the project could eventually include up to 11 buildings, ranging in size from 60,000 square feet to 1.6 million square feet. The company said it will soon reveal details of a speculative building to be constructed at the site. A construction timeline was not disclosed. Red Rock has tapped NAI Earle Furman to market and lease Smith Farms.
SANTA FE SPRINGS, CALIF. — Bridge Development Partners has completed the disposition of three industrial properties totaling 224,000 square feet at Bridge Point Santa Fe Springs in Los Angeles County. Two of the buildings were completed as build-to-suit developments for the companies that acquired them, while the third was sold to a real estate investment firm. UniFirst Corp. acquired the 74,120-square-foot Building I, located at 13101 Rosecrans Ave. Paul Sablock and Christopher Lawrence of JLL represented the buyer. Novella Plastics purchased 75,331-square-foot Building II, located at 13123 Rosecrans Ave. Michael Lee of Redpoint Realty represented Novella Plastics in the deal. Westcore Properties acquired the 74,038-square-foot Building III, located at 13915 Maryton Ave., upon completion of the shell. Westcore leased the property to Carroll Tire Co., a division of Sumitomo Tire. Scott Heaton and Chris Sheehan of Colliers International represented Bridge Development in all three transactions, as well as Westcore Properties. Financial terms of the deals were not disclosed.
MESA, ARIZ. — NAI Horizon has arranged the acquisition of an office and industrial facility located at 10646 E. Pecos Road in Mesa. Peoria, Ariz.-based YBL LLC purchased the facility from DMW Properties, an Oregon limited liability company, for $2.7 million. The buyer, which operates as Liberty Lumber, is a contractor of residential and commercial lumber and supplies. The buyer plans to relocate its operation to the 12,436-square-foot facility. Rick Foss of NAI Horizon represented the buyer, while Tom Bean, also of NAI Horizon, represented the seller in the transaction.
TRUMBULL, CONN. — Washington Trust’s Commercial Real Estate Group has provided $6.6 million to refinance and make tenant improvements to an 83,193-square-foot multi-tenant office and industrial property in Trumbull. The 14-acre property located at 60 Commerce Drive is the former headquarters of the Pilot Pen Corp. and consists of two interconnected buildings. The front building is three levels totaling 15,505 square feet of office space while the rear building contains 67,688 square feet of office and industrial space. 60 Commerce Drive is owned by CH Commerce Drive Associates and City Park Commerce Drive.
NEW YORK CITY — The Blumenfeld Development Group has acquired an 80,000-square-foot industrial building at 260 Spur Drive South in Bay Shore, Long Island for $6.15 million. The property currently serves as the North American headquarters of Tensator, a provider of electronic queuing solutions in several industries including the retail and healthcare sectors. Blumenfeld, in partnership with The Hampshire Companies, acquired the property and negotiated a lease extension for Tensator. Kyle Burkhart of Cushman & Wakefield represented Tensator and Jason Miller and Jeffrey Schwartzberg of Premier Commercial Real Estate represented the undisclosed seller in the transaction. Bay Shore is 50 miles east of Manhattan.
DES MOINES, IOWA — Bellomy & Co. has negotiated the sale of two Class A self-storage facilities in Des Moines. The sales price was not disclosed. One of the properties, Afford It Storage, includes 280 units spread across 36,150 square feet. Country Club Mini Storage features 170 units totaling 22,200 square feet. The facilities, located 5.6 miles apart, both feature a mix of climate-controlled and non-climate-controlled units. Bill Bellomy, Michael Johnson and John Arnold of Bellomy represented the Iowa-based seller. The team also procured the buyer, StorageMart, which operates more than 15 million square feet of storage in three countries.
CERRITOS, CALIF. — Rexford Industrial Realty has acquired an industrial facility located at 16010 Shoemaker Ave. in Cerritos within the Los Angeles-Mid Counties submarket. An undisclosed company sold the property for $17.2 million, or $149 per square foot. Situated on 4.4 acres, the 115,600-square-foot property features 24-foot clearance and 12 dock-high positions with a secured concrete yard and immediate access to major transportation arterials. At the time of sale, the property was fully leased to a single-tenant user. Redford funded the acquisition through a combination of cash on hand and draws on the company’s line of credit.
HOUSTON — Lee & Associates has negotiated the sale of a 24,928-square-foot industrial building at 14219 Westfair W. Drive in Houston. Thomas Leger and Patrick Wolford of Lee & Associates represented the buyer, American Fire Systems, in the transaction. Richard Glass of CRC Real Estate represented the seller, Export Service International Forwarding LLC, a Houston-based freight company.
MEDLEY, FLA. — Cushman & Wakefield has arranged a 257,074-square-foot lease with Nestlé Waters North America at Airport North Logistics Park in Medley, roughly 15 miles northwest of Miami. The master-planned logistics park totals 900,000 square feet, and the first phase of the project comprises four buildings. Nestlé Waters will occupy all of Building 3, located at 8501 N.W. 80th St. Wayne Ramoski, Gian Rodriguez and Skylar Stein of Cushman & Wakefield arrangaed the transaction on behalf of the landlord, Dallas-based L&B Realty Advisors LLP. CBRE’s Tom O’Loughlin, Marineh Dermovsesian and Larry Genet represented Nestlé Waters. The industrial park features up to 32-foot clear heights and a 190-foot concrete truck court. In addition, the park is located roughly 10 miles from Miami International Airport and 15 miles from Port Miami. Building 1 at the park is fully leased to Neutralogistics and Eco Windows.
