Industrial

Parceljet Signs 239,190 SF Industrial Lease in Montgomery, Illinois

by Kristin Harlow October 7, 2024

MONTGOMERY, ILL. — Parceljet Information Technology LLC has signed a 239,190-square-foot industrial lease at 900 Knell Road in Montgomery. The cross-border logistics company is expanding from its coastal locations to grow its presence in the Midwest. The space is part of a 992,462-square-foot building constructed in 1960 and renovated in 2000. The facility features a clear height of 30 feet, 17 exterior docks and one drive-in door. Parking is available for 184 trailers and more than 600 cars. George Cibula and Rick Daly of DarwinPW Realty/CORFAC International represented the landlord, CenterPoint Properties. Danielle Radtke and Patrick Smith of CenterPoint were instrumental in getting Parceljet into the space in a short timeframe.

October 7, 2024

Development Illinois Industrial Midwest

Contegra Construction Completes 76,000 SF Headquarters Expansion for West Star Aviation in Metro St. Louis

by Kristin Harlow October 7, 2024

EAST ALTON, ILL. — Contegra Construction Co. has completed a 76,000-square-foot expansion for West Star Aviation’s service facility and headquarters in East Alton, about 25 miles north of St. Louis. The company’s maintenance, repair and overhaul property now totals more than 500,000 square feet. The expansion is projected to create 60 to 80 jobs over the next two years. Located at 2 Airline Court, the three-building expansion project added 50,000 square feet of new hangar capacity, 13,000 square feet of additional back shop space and 13,000 square feet of additional storage space. It also includes 165 parking spaces.

October 7, 2024

Arizona Development Industrial Self-Storage Western

DXD Capital Starts Construction of 706-Unit Self-Storage Facility in Scottsdale, Arizona

by Amy Works October 7, 2024

SCOTTSDALE, ARIZ. — DXD Capital has broken ground on a self-storage facility totaling 66,750 rentable square feet in Scottsdale. Located at 8888 E. Desert Cove Ave., the four-story property will offer 706 individual storage units and two basement levels. Extra Space Storage will manage the facility, which is slated to open in fourth-quarter 2025. The project team includes TLW Construction as general contractor and Southwest Capital Bank as construction lender. DXD Capital acquired the site in July 2024. To date, DXD has invested in 19 self-storage developments and one seven-facility portfolio acquisition across the United States.

October 7, 2024

Development Industrial New Hampshire Northeast Office

PROCON Breaks Ground on 57,000 SF Industrial Flex Project in Milford, New Hampshire

by Taylor Williams October 7, 2024

MILFORD, N.H. — Locally based design-build firm PROCON has broken ground on a 57,000-square-foot industrial flex project in Milford, located near the Massachusetts-New Hampshire border. The project is a build-to-suit for Hitchiner, a provider of casting-based components and assemblies for the aerospace and automotive industries, and will serve as a “shared services operations” center on the company’s existing campus. Completion is scheduled for fall 2025.

October 7, 2024

Connecticut Industrial Leasing Activity Northeast

Pikalo Foods Signs 20,280 SF Industrial Lease in New Haven, Connecticut

by Taylor Williams October 7, 2024

NEW HAVEN, CONN. — Pikalo Foods, a family-owned, wholesale provider of empanadas, has signed a 20,280-square-foot industrial lease in New Haven. According to LoopNet Inc., the building at 145 Hamilton St. was originally constructed in 1965. Mark Glassman of Arnold Peck’s Commercial World represented the tenant in the lease negotiations. Carl Russell and Chris Nolan of Pearce Real Estate represented the landlord, a New York-based entity doing business as 145 Hamilton LLC.

October 7, 2024

Acquisitions Industrial Oklahoma Self-Storage Texas

Marcus & Millichap Brokers Sale of 375-Unit Self-Storage Facility in Tuttle, Oklahoma

by Taylor Williams October 4, 2024

TUTTLE, OKLA. — Marcus & Millichap has brokered the sale of Premium Storage, a 375-unit self-storage facility in Tuttle, a southwestern suburb of Oklahoma City. The site spans seven acres, and the property features 107,330 net rentable square feet across 37 climate-controlled units, 334 non-climate-controlled units and four commercial spaces. Bryan Quaschnick, Danny Cunningham and Brandon Karr of Marcus & Millichap represented the Dallas-based seller in the deal and procured the buyer, an out-of-state, privately held investment group. Both parties requested anonymity.

October 4, 2024

Acquisitions Industrial Nevada Western

Colliers Facilitates Two Sales of 493,000 SF Infill Logistics Portfolio in Nevada

by Amy Works October 4, 2024

LAS VEGAS AND HENDERSON, NEV. — Colliers has arranged the dual acquisitions of a two-parcel infill logistics portfolio in Henderson and Las Vegas by BKM Capital Partners and an Ares Management Real Estate fund. Michael Kendall, Gian Bruno, Dan Doherty, Paul Sweetland, Jerry Doty, Chris Lane, Brian Riffel and Tyler Jones of Colliers represented the seller, a private institutional investment firm, in the sales. BKM Capital Partners purchased a two-building, 153,368-square-foot property at 6620 Escondido St. in Las Vegas for an undisclosed price. BKM plans to implement a $4.4 million capital improvement program to execute structural and cosmetic improvements to the property, as well as speculative tenant improvements to turn the two large units into nine warehouses ranging in size from 7,000 square feet to 31,000 square feet each. The asset was constructed in 1995. An Ares Management Real Estate fund acquired Airparc Heights, a six-building, Class A business park at 3225-3255 Sunridge Parkway and 1065-1085 Alper Center Drive in Henderson. Ares acquired the park, which will be managed by the Ares Industrial Management team. Spanning 339,214 square feet, the project was delivered in 2022 and gained full occupancy within one month of delivery.

October 4, 2024

Acquisitions Industrial Washington Western

Marcus & Millichap Facilitates $19M Sale of Self-Storage Facility in Tacoma, Washington

by Amy Works October 4, 2024

TACOMA, WASH. — Marcus & Millichap has negotiated the sale of 12th Street Storage, a self-storage facility in Tacoma. An undisclosed limited liability company sold the asset to a fund manager for $19 million. Located at 1018 E. Highland Ave., 12th Street Storage offers 91,546 square feet of self-storage space. The facility, which was developed in 2020 and 2021 by a local investment group, was acquired by an international real estate firm based in London and Los Angeles. Christopher Secreto of Marcus & Millichap’s Seattle office represented the seller and secured the buyer in the deal.

October 4, 2024

Alabama Development Industrial Southeast

TriOut to Develop 223,500 SF Industrial Project in Huntsville, Alabama

by John Nelson October 3, 2024

HUNTSVILLE, ALA. — TriOut Advisory Group plans to develop a 223,500-square-foot industrial project in Huntsville. The project will be situated near I-565 on an 18-acre site along Sparkman Drive within Cummings Research Park. The project team includes locally based civil engineer Johnson & Associates. NAI Chase Commercial Real Estate is handling the leasing assignment on behalf of TriOut.

October 3, 2024

Acquisitions California Industrial Self-Storage Western

Capital 360, Barings Sell 2,460-Unit Extra Space Storage Facility in Cerritos, California for $91M

by Amy Works October 3, 2024

CERRITOS, CALIF. — A joint venture between Capital 360 and Charlotte-based Barings has completed the disposition of Extra Space Storage in Cerritos to Houston-based Hines for $91 million. Nick Walker and Trevor Roberts of CBRE’s Self Storage Advisory Group represented the seller in in the transaction. Capital 360 and Barings originally acquired the site in 2018. Situated on 4.9 acres at 17900 Crusader Ave., the three-story, 260,273-square-foot facility offers 2,460 storage units. Constructed in 2020, the facility was more than 88 percent occupied at the time of sale.

October 3, 2024

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