CHANNAHON, ILL. — Cawley Chicago has brokered the sale of a 143-acre land site in Channahon, a southwest suburb of Chicago. The sales price was not disclosed. A joint venture partnership led by Venture One Real Estate acquired the land, which is part of a phased acquisition that will ultimately total 292 acres. Venture One also unveiled plans for the groundbreaking of Crossroads 55 Business Park and the commencement of a 1 million-square-foot speculative warehouse facility. The site is situated in the I-80/Joliet Corridor submarket with immediate access to the Route 6 and Bluff Road interchanges on I-55. Joshua Hearne of Cawley Chicago represented the buyer in the transaction. Marquette Properties represented the undisclosed seller.
GREENWICH, CONN. — Brennan Investment Group, a U.S.-based real estate firm, and a client of Arch Street Capital Advisors, a Greenwich, Conn.-based real estate investment advisory firm, have formed a fifth joint venture to acquire, own and manage a substantial portfolio of industrial properties throughout the United States. The venture will focus on acquiring individual industrial assets in major markets in the United States that are critical facilities to tenants and leased on a long-term basis. In conjunction with the formation of the venture, Goldman Sachs provided the venture with a financing line of credit facility to enhance the venture’s efficiency in closing both portfolio and individual asset purchases. The new venture has already purchased nearly 900,000 square feet of industrial real estate in Dallas; Charlotte, N.C.; and Green Bay, Wis. Brennan and Arch Street have collectively acquired 77 properties comprising more than 12 million square feet in the single-tenant, net lease sector during the last five years. The companies seek net leased industrial investments meeting the following criteria: location in the top 100 U.S. markets, remaining lease term of at least 10 years, non-investment grade credits, and significant facility investment by the tenant. They are interested in all industrial …
CHARLOTTE, N.C. — Birmingham, Ala.-based Graham Commercial Properties (GCP) has acquired 10000 Twin Lakes Parkway, a 464,947-square-foot industrial property in Charlotte, for $22 million. Constructed in 1992, the Class A property is situated at the junction of Interstates 77 and 485. At the time of sale, 10000 Twin Lakes was fully leased to Schleich North America, a German producer of hand-painted toys, and Ingersoll Rand, a Dublin, Ireland-based industrial supply company. The seller was not disclosed.
SANTA CLARITA, CALIF. — Trammell Crow Co. and Clarion Partners have purchased 54 additional acres of land to develop the Center at Needham Ranch, a 132-acre business park in the Los Angeles submarket of Santa Clarita. The Class A park will be situated one mile from the intersection of Interstate 5 and Highway 14, about 30 miles from downtown Los Angeles and 15 miles from Burbank Airport. Phase I will include an 869,760-square-foot park with 30- to 36-foot clear heights, ESFR fire sprinklers, abundant dock-high loading, and large truck courts and yard areas. Construction of Phase I is scheduled to begin this month, with completion scheduled for the third quarter of 2018.
LIVERMORE, CALIF. — Performance Food Group has leased 89,429 additional square feet of space at an industrial warehouse/distribution facility in Livermore. The facility is located at 7587 Las Positas Ave. Performance Food Group already leases 222,345 square feet within the industrial complex. The facility features 30-foot minimum ceiling height, ESFR sprinkler system, cross dock loading access, ample parking and truck staging areas. Michael Lloyd and Greig Lagomarsino of Colliers executed the transaction.
CARLISLE, PA. — In Carlisle, Goodman Group has preleased 1 million square feet of logistics space to syncreon. The third-party logistics company is leasing space at one of two industrial facilities at the Goodman Logistics Center Carlisle, which offers direct access to Interstate 81. syncreon is scheduled to take occupancy of the building in early 2018. The seven-year lease was negotiated by Lauren Scarpace and Michael Hess of CBRE and is the first lease at the logistics center. The second logistics facility is currently available for lease and offers 938,236 square feet of available space.
MOUNT LAUREL, N.J. — Colliers International has arranged the $5.65 million sale of 116 Gaither Drive in Mount Laurel, a fully leased 106,000-square-foot industrial building. Food Sciences Corp. has a long-term lease on the property, which features 24-foot clear ceilings, 13 loading docks, one drive-in door, heavy electric service and expansion capabilities. The Bloom Organization sold the property to a private investor. Ian Richman and Marc Isdaner of Colliers were the sole brokers.
HOUSTON — Clay Development and Construction has broken ground on Cutten Distribution Center I, a 293,280-square-foot industrial facility located on Cutten Road in northwest Houston. Built entirely on a speculative basis, the property will be the 15th building within the 165-acre Cutten Road Business Park and feature 60-foot bays with 32-foot clear heights, trailer parking and a sprinkler system. Completion of the center is scheduled for January 2018.
DALLAS — Stream Realty Partners has brokered the sale of a portfolio of 18 industrial buildings totaling roughly 509,000 square feet at locations throughout the Dallas area, including Farmers Branch, Irving and Richardson. Jamie Jennings, James Mantzuranis, Jeremy Kelly and Ryan Wolcott of Stream represented the seller, a partnership between Elliott Management and Cienda Partners. Los Angeles-based Entrada Partners purchased the assets for an undisclosed price.
ORLANDO, FLA. — Colliers International has secured a 69,545-square-foot lease for Safemark Systems, a manufacturer of electronic safes for the hospitality industry, at Horizon Commerce Park in Orlando. With the new lease, Safemark Systems will combine its office and warehouse operations into one space. Richard Davis Jr. of Colliers International represented Safemark Systems in the lease transaction. Mike Borling of JLL represented the landlord, EastGroup Properties. Located at 200 W. Sand Lake Road, the property is situated roughly eight miles south of downtown Orlando, with access to State Road 528 and the Orlando Executive Airport.