Industrial

68945-Perez-Rd-Cathedral-City-CA

CATHEDRAL CITY, CALIF. — Avison Young has arranged the sale of a multi-tenant industrial building located at 68945 Perez Road in Cathedral City. North First Street Properties LP sold the property to Cathedral City 2 LLC for $4.8 million. Built in 1989, the 29,400-square-foot property is situated on 1.7 acres of land with frontage and access along Perez Road. At the time of sale, the property was full leased to a variety of tenants, including Caliber Collision Centers, Su Casa Imports and additional space entitled for cannabis manufacturing. Keith Kropfl and Michael Ganz of Avison Young, along with Thom Olson of Creatus Properties, represented the buyer, while Coldwell Banker represented the seller in the transaction.

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PHOENIX — Brennan Investment Group has acquired a two-building industrial facility, located at 4245 N. 40th Ave. in Phoenix, for an undisclosed price. The 79,968-square-foot property was simultaneously leased back to the seller, F&B Manufacturing, a provider of parts for the aerospace, automotive, power generation and semi-conductor industries. F&B Manufacturing uses the facility at its headquarters and for manufacturing and distribution.

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SUMMERVILLE, S.C. — HFF has brokered the sale of Newton Way Industrial Center, a 451,370-square-foot distribution and manufacturing facility located in Summervillle, roughly 22 miles from the Port of Charleston. Chris Norvell and Patrick Nally of HFF arranged the transaction on behalf of the seller, Gramercy Property Trust. Bob Barrineau and Brendan Redeyoff of CBRE represented the undisclosed buyer, a user that plans to also occupy the building. Newton Way Industrial Center was constructed in 2007 and features 30-foot clear heights, 37 dock-high loading doors, 22 drive-in doors, parking and storing for up to 100 trailers, 513 parking space and 17,900 square feet of office space. In addition, the property has Foreign Trade Zone status, which provides tenants with the ability to facilitate international mercantile activity if needed.

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Carson-Bayport-3-Pasadena-Texas

PASADENA, TEXAS — The Carson Cos., a California-based industrial developer, has broken ground on four buildings within Bayport Industrial Park in Pasadena, a southeastern suburb of Houston. The groundbreakings mark Phase II of an industrial development known as Carson Bayport. The project will deliver one 207,000-square-foot cross-dock warehouse and three 25,000-square-foot crane-ready buildings, all four of which will be developed on a speculative basis. The largest building, completion of which is slated for the fourth quarter, will feature 62 dock-high doors, 30-foot clear heights, an ESFR sprinkler system, 154 car parking spaces and a fenced-in truck court.    

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CubeSmart-Self-Storage-Missouri-City-Texas

MISSOURI CITY, TEXAS — Bellomy & Co. has arranged the sale of a 434-unit self-storage facility in the southeastern Houston metro of Missouri City that is managed by Pennsylvania-based REIT CubeSmart. The property features both climate- and non-climate-controlled units totaling 54,400 square feet of net rentable space with room for expansion. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. represented the seller, Austin-based Yellowstone Investments, in the transaction. The trio also procured the undisclosed, Houston-based buyer.

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PLYMOUTH, MICH. — Alliant Credit Union has provided a $3.5 million loan for the refinancing of a 41,400-square-foot industrial property in Plymouth, about 25 miles west of Detroit. The research and development property is located within Metro West Technology Park. The 10-year loan features a 25-year amortization schedule. Chris Charboneau of Walker & Dunlop arranged the loan. The borrower was not disclosed.

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OLATHE, KAN. — Professional Packaging Systems LLC has signed a 247,589-square-foot industrial lease in Olathe. The distributor of packaging equipment will occupy space at 16231 S. Lone Elm Road. Ed Elder and John Stafford of Colliers International represented the landlord, STAG Industrial Holdings LLC. Mike Mitchelson of CBRE represented the tenant.

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Parc-Air-59-Humble-Texas

HUMBLE, TEXAS — A partnership between two Dallas-based companies, developer Jackson-Shaw and investment firm Thackeray Partners, has begun work on Parc Air 59, a 320,000-square-foot industrial facility in the northern Houston metro of Humble. The Class A development will consist of a 160,000-square-foot, cross-dock building and two 80,000-square-foot single-load buildings. Features will include 28- and 32-foot clear heights, ESFR sprinklers and abundant trailer parking. Arch-Con Corp. is serving as general contractor for the project, which is scheduled for a fourth-quarter completion. Powers Brown is handling design of the project and Kimley-Horn is serving as civil engineer. Comerica is providing construction financing and Cushman & Wakefield will lease and manage the property.

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ARLINGTON AND FARMERS BRANCH, TEXAS — Matthews Commercial Group, a Dallas-based brokerage firm, has arranged the sale of two commercial properties in the Dallas area. Eliud Sangabriel of Matthews represented the seller in the disposition of a 12,000-square-foot retail center in Arlington, which was built in 2006, and a 15,000-square-foot industrial building in Farmers Branch. Jeremy Mercer of Mercer Cos. represented the buyer of the industrial property. Other terms of sale were not disclosed

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OCOEE, FLA. — McCraney Property Co. has acquired 43.9 acres in Ocoee, roughly 12 miles west of Orlando, with plans to develop a 652,696-square-foot industrial park. Dubbed Distribution 429, the development will include three buildings: Building 100, totaling 104,950 square feet; Building 200, totaling 145,164 square feet; and Building 300, totaling 402,582 square feet. William “Bo” Bradford of Lee & Associates represented the undisclosed seller in the land sale. McCraney expects to break ground on the development later this month. The buildings will target end-users requiring freight forwarding, third-party logistics and fulfillment needs.

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