Industrial

ICP Completes Lease-Up of Office, Warehouse Property in Suburban Cleveland

by Kristin Harlow January 24, 2019

SOLON, OHIO — Industrial Commercial Properties (ICP) has completed the lease-up of 6680 Parkland Blvd. after acquiring the 82,000-square-foot office and warehouse property in December. Two tenants, King Nut and Loan Protector, will begin occupying the building in the first half of this year. Matthew Beesley of Cushman & Wakefield/Cresco Real Estate represented King Nut, a nut and snacks company, in the lease transaction. Steve Voinovich of CBRE represented Loan Protector, an insurance broker. ICP worked with David Stover of Hanna Commercial Real Estate on the acquisition.

January 24, 2019

Acquisitions Industrial Self-Storage Texas

LeClaire Group Brokers Sale of 595-Unit Self-Storage Facility in Metro Houston

by Taylor Williams January 24, 2019

LA PORTE, TEXAS — The LeClaire Group, a division of Marcus & Millichap, has brokered the sale of Spencer Mini Storage, a 595-unit self-storage facility in La Porte, an eastern suburb of Houston. The property consists of 226 climate-controlled units, 286 non-climate-controlled units and 83 vehicle parking spaces. The majority of the property was built between 1994 and 1999. Dave Knobler and Charles LeClaire of LeClaire Group represented the seller, a California-based family trust, in the transaction. The buyer was not disclosed.

January 24, 2019

Acquisitions Industrial Office Texas

Davis Commercial Arranges Sale of 3,000 SF Office Building in Metro Houston

by Taylor Williams January 24, 2019

MISSOURI CITY, TEXAS — Davis Commercial has arranged the sale of a 3,000-square-foot office building in Missouri City, a southwestern suburb of Houston. The sale includes the two acres on which the property is situated. The buyer, Bereshith Properties LLC, plans to develop warehouses on the additional land. Ashley Casterlin of Davis Commercial represented the seller, a limited partnership, in the transaction.

January 24, 2019

Acquisitions Industrial New Jersey Northeast

HFF Brokers Sale of 134,500 SF Industrial Facility in Jersey City

by David Cohen January 24, 2019

JERSEY CITY, N.J. — HFF has brokered the sale of a 134,500-square-foot vacant industrial facility in Jersey City. The sales price was undisclosed. Located at 21 Caven Point Ave., the five-acre property is seven miles from New York City and nine miles from Port Newark-Elizabeth Marine Terminal and Newark Liberty International Airport. The facility includes a solar panel system and 13 docks. Michael Oliver, Jose Cruz, Marc Duval, Jordan Avanzato, Kevin O’Hearn and Steve Simonelli of HFF represented the private seller in the transaction. The Avidan Group and Elberon Development Group purchased the property.

January 24, 2019

Acquisitions California Industrial Western

HFF Arranges $33M Acquisition of Vacant 340,000 SF Industrial Building in the Inland Empire

by Amy Works January 24, 2019

SAN BERNARDINO, CALIF. — HFF has brokered the sale of a vacant industrial building in San Bernardino. Bixby Land Co. acquired the Class A asset for $33 million. The newly built, 340,000-square-foot property is located at 4982 Hallmark Parkway within the Inland Empire. The acquisition is part of a joint venture with AXA Investment Managers – Real Assets to aggregate $400 million of industrial assets across the Western United States. Andrew Briner and Michael Roberts of HFF represented the buyer, while CBRE represented the undisclosed seller in the transaction.

January 24, 2019

Acquisitions Colorado Development Industrial Western

J.A. Green Development Buys 175 Acres for Expansion at JAG Logistics Center at Denver Airport

by Amy Works January 24, 2019

AURORA, COLO. — J.A. Green Development Corp. has acquired approximately 175 acres of land, located at 26100-26120 E. 68th Ave. in Aurora. The property, situated adjacent to the 75-acre parcel that JAG purchased in 2018, will be part of the JAG Logistics Center at DIA (Denver International Airport). ACP DIA 1287 Investors LLC sold the property for an undisclosed price. Situated at the southern border of Denver International Airport, the business park will ultimately contain more than 3 million square feet of Class A warehouse space in two phases. The logistics center will feature flexible build-to-suit sites ranging from 100,000 square feet to 1 million square feet with an available delivery in fourth-quarter 2020. Alec Rhodes, Tyler Smith and Aaron Valdez of Cushman & Wakefield’s Denver Industrial team are the exclusive listing agents for JAG Logistics Center at DIA, which is part of the Porteos master-planned development and located within a confirmed Opportunity Zone.

January 24, 2019

Acquisitions California Industrial Self-Storage Western

Gelt Inc. Purchases 665-Unit Self-Storage Facility in California for $16.5M

by Amy Works January 24, 2019

SOUTH PASADENA, CALIF. — Los Angeles-based Gelt Inc. has acquired Southmark Storage, a self-storage facility located in South Pasadena. Southmark Storage LLC, a California-based private investor, sold the property for $16.5 million. Situated on a 1.8-acre site at 919 Mission St., the six-building property features 623 indoor storage units, 42 outdoor rental units, a site office and a two-bedroom manager’s apartment. At the close of escrow, the property, which was built in 1986, was 99 percent occupied. Immediately upon closing, Gelt hired Extra Space Storage to streamline operations at the property. Gelt also plans to install new roofs, asphalt and paint, as well as signage, property access systems and the addition of a web payment platform. Greg Nassir and Edward Matevosian of CBRE represented the seller, while Gelt was self-represented in the transaction.

January 24, 2019

Development Industrial Texas

Stream Realty Partners Breaks Ground on 296,615 SF Industrial Project in Metro Dallas

by Taylor Williams January 23, 2019

GRAND PRAIRIE, TEXAS — Stream Realty Partners has broken ground on Grand Lakes | I-30, a 296,615-square-foot industrial project in Grand Prairie, located roughly midway between Dallas and Fort Worth. GSR Andrade is the project architect; Kimley-Horn is the civil engineer and The Conlan Co. is the general contractor. The project is expected to be delivered by the third quarter. Heitman, a global real estate investment management firm, will acquire the property upon completion. Stream Realty Partners will also handle leasing and management of the facility.

January 23, 2019

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 723-Unit Self-Storage Facility in Metro Austin

by Taylor Williams January 23, 2019

ROUND ROCK, TEXAS — Marcus & Millichap has brokered the sale of Mustang Storage, a 723-unit self-storage facility in Round Rock, a northern suburb of Austin. The property, which features 161,590 square feet of traditional storage space, includes 509 storage spaces for boats and recreational vehicles. Brian Kelly, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, an undisclosed limited liability company, in the transaction. The trio also procured the buyer, GYS Development, which specializes in development and management of self-storage assets. Tim Speck of Marcus & Millichap also assisted in closing the deal.

January 23, 2019

Acquisitions Connecticut Industrial Northeast

Angel Commercial Brokers $4.8M Sale of Industrial Facility in Stamford

by David Cohen January 23, 2019

STAMFORD, CONN. — Angel Commercial has brokered the $4.8 million sale of an industrial facility in Stamford. Located at 72 Camp Ave., the 33,822-square-foot, two-story property is in the Springdale section of Stamford . The two tenants in the building are Building Blocks Learning Center and Upper Deck Fitness. Jon Angel of Angel Commercial represented both the buyer, 132 Jamaica Avenue Realty Corp., and the seller, 72 Camp Avenue LLC.

January 23, 2019

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