Industrial

HFF Arranges $10.2M Construction Loan for Self-Storage Facility in Northern New Jersey

by David Cohen May 23, 2018

NUTLEY, N.J. —HFF has arranged $10.2 million in financing for the development of a 925-unit, CubeSmart-branded self-storage facility at 10 Kingsland St. in Nutley. The three-story, 125,000-square-foot facility will contain 765 climate-controlled and 160 non-climate-controlled units in a variety of sizes. HFF represented the developer, Tulfra Real Estate, in securing the construction loan with Bank of New Jersey. Loan proceeds will be used for acquisition costs, site improvements, construction and facility lease up.

May 23, 2018

Industrial Loans Midwest Office Ohio

KeyBank Originates $125M CMBS Loan for Refinancing of 2.7 MSF Industrial, Office Portfolio

by Kristin Harlow May 23, 2018

CLEVELAND — KeyBank Real Estate Capital has originated a $125 million CMBS loan for the refinancing of Griffin Capital Essential Asset REIT II, a four-property commercial real estate portfolio. The properties total 2.7 million square feet and include two industrial buildings and two office buildings. The properties are located in Columbus, Ohio; Chicago; Las Vegas; and Birmingham, Ala. Randy Martin of Cleveland-based KeyBank originated the 10-year loan. In addition to KeyBank’s loan, Bank of America NA provided $125 million in CMBS financing.

May 23, 2018

Acquisitions Industrial New York Northeast

Seagis Property Group Acquires Six Industrial Buildings in Queens

by David Cohen May 23, 2018

NEW YORK CITY — Seagis Property Group has acquired six warehouse buildings in South Queens for an undisclosed price. The properties, which are located in the JFK submarket of Queens, total 68,000 square feet. Seagis now owns 52 buildings totaling 1 million square feet across New York City.

May 23, 2018

Acquisitions Industrial Texas

HFF Negotiates Sale of 192,000 SF Industrial Asset in North Houston

by Taylor Williams May 23, 2018

HOUSTON — HFF has negotiated the sale of Interwood Business Center, a 192,000-square-foot industrial asset located near George Bush Intercontinental Airport in north Houston. The two-building property, which includes one rear-load building and one cross-dock building, features 24-foot clear heights, dock-high doors and 130- to 190-foot truck courts. Trent Agnew, Rusty Tamlyn and Dane Petersen of HFF represented the seller, Stockbridge Capital Group, in the transaction. California-based Black Equities Group Ltd. purchased the property, which was 93 percent leased at the time of sale, for an undisclosed price.

May 23, 2018

Industrial Leasing Activity Texas

Darling Ingredients Signs 95,322 SF Office Lease Expansion in Irving

by Taylor Williams May 23, 2018

IRVING, TEXAS — Darling Ingredients, a provider of sustainable food, feed and fuel solutions, has signed a 95,322-square-foot office lease at 5601 N. MacArthur Blvd. within the Las Colinas business district in Irving. Beginning in December, the company will relocate from its 59,000-square-foot space at 251 O’Connor Ridge Blvd., which it has occupied for three decades. Bill McClung and Robbie Baty of Cushman & Wakefield represented Darling Ingredients in the lease negotiations. Matt Hurlbut and Nathan Durham of Transwestern represented the landlord, Massachusetts-based Brookwood Financial Partners LLC.

May 23, 2018

Acquisitions Florida Industrial Southeast

Colliers International Arranges $13.9M Sale of Industrial Site in South Florida

by Camren Skelton May 23, 2018

DANIA BEACH, FLA. — Colliers International has arranged the $13.9 million sale of a 28-acre industrial site located at 4030 State Road 7 in Dania Beach. Liberty Property LP, a subsidiary of Liberty Property Trust, acquired the land with plans to build the 300,000-square-foot Liberty 595 Distribution Center on the site. Steven Wasserman and Brooke Berkowtiz of Colliers International arranged the transaction on behalf of the seller, the City of Fort Lauderdale. The land once served as a composting site for the City of Fort Lauderdale, and was later used by the city’s Public Works Department.

May 23, 2018

Acquisitions Delaware Industrial Northeast

CBRE Negotiates Sale of 120,000 SF Industrial Facility in Delaware

by David Cohen May 22, 2018

NEWARK, DEL. — CBRE has negotiated the sale of 322 Ruthar Drive in Newark for an undisclosed amount. DuPont Transportation & Advanced Polymers acquired the 120,000-square-foot industrial facility. CBRE represented DuPont in the transaction. The seller was undisclosed. DuPont has committed to invest $45 million in the new facility, which will increase its manufacturing capacity for DuPont Kalrez, a specialized engineered material used in a variety of sealing applications.

May 22, 2018

Development Industrial Self-Storage Texas

HPI Horne Developing 979-Unit Self-Storage Facility in San Antonio

by Taylor Williams May 22, 2018

SAN ANTONIO — HPI Horne Storage, a joint venture between Austin-based HPI Real Estate Services & Investments and self-storage industry veteran Hugh Horne, is developing a 979-unit facility located at 10126 Potranco Road in San Antonio. The property will total 134,000 square feet of net rentable space and all its units are climate-controlled. The joint venture will own and operate the facility and a publicly traded self-storage REIT will manage it. Completion is slated for April 2019. SBS Construction is serving as general contractor and Arch-Con Architecture is providing design services. Elsewhere in San Antonio, the joint venture has another development site under contract at 12727 Vista Del Norte and is set to close on a third site near The Pearl in June.

May 22, 2018

Acquisitions Industrial Texas

ViaWest Group Sells 245,945 SF Industrial Portfolio in El Paso

by Taylor Williams May 22, 2018

EL PASO, TEXAS — ViaWest Group, a Phoenix-based development and management firm, has sold a portfolio of industrial properties in El Paso totaling 245,945 square feet across four assets. The portfolio was 40 percent leased when ViaWest Group acquired it in 2015 and was 94 percent leased at the time of sale. Arturo De La Mora and Jonathan Bryan of CBRE represented ViaWest Group in the sale. Bill Caparis, also with CBRE, represented the buyer, Stonelake Capital Partners.

May 22, 2018

Florida Industrial Leasing Activity Southeast

Bridge Signs Sportswear Company to 172,927 SF Lease at Planned Industrial Development in South Florida

by Camren Skelton May 22, 2018

POMPANO BEACH, FLA. — Bridge Development Partners has signed its first tenant at Bridge Point Powerline Road, a 467,832-square-foot industrial park under development in Pompano Beach. TSF Sportswear LLC, a Florida-based wholesale apparel distributor, will relocate its existing Pompano Beach headquarters to the new facility, fully occupying the 172,927-square-foot Building 1. Tony Hoover of CBRE arranged the lease on behalf of Bridge, the project developer. Bridge Point Powerline Road will feature three buildings and include Class A warehouse, distribution and flex/showroom space. All buildings will feature 32-foot clear heights, 54-foot column spacing, 60-foot speed bays, T-5 energy efficient lighting and ESFR sprinkler systems. Bridge expects to wrap up construction on the park in the third quarter of 2019.

May 22, 2018

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