MURPHY, TEXAS — The Jenkins Organization, a Houston-based developer and operator of self-storage facilities, will open Murphy Self Storage, a 635-unit facility in Murphy, a northeastern suburb of Dallas. The property will feature both climate- and non climate-controlled units. The grand opening is slated for Saturday, April 21. The Jenkins Organization plans to open three other facilities in the Dallas-Fort Worth (DFW) area this year.
GRAPEVINE, TEXAS — Stream Realty Partners has negotiated a 66,052-square-foot industrial lease at International Airport Center, a 356,530-square-foot distribution warehouse located in the Dallas metro of Grapevine. Built in 2001, the building is situated adjacent to Dallas-Fort Worth (DFW) International Airport. Ryan Boozer of Stream Realty represented the tenant, Hanes Industries, in the lease negotiations. Steve Koldyke of CBRE represented the landlord, International Airport Center Inc.
NAPERVILLE, ILL. — Lagestee-Mulder has acquired a 47,000-square-foot industrial building in Naperville for an undisclosed price. The property is situated on 4.3 acres at 1600 Shore Road. Built in 1989, the property is fully leased to nine tenants that occupy spaces ranging in size from 3,118 to 9,429 square feet. Lagestee-Mulder’s investment fund, LM Value Investors II LLC, was used to acquire the newly renovated property. John Whitehead and Adam Johnson of NAI Hiffman represented the seller, Midwest Industrial Funds.
SACRAMENTO, CALIF. — BKM Capital Partners has acquired Expo Centre, a 122,253-square-foot, multi-tenant industrial business park in downtown Sacramento for $10.1 million. The seven-building park is located alongside the SR-160 at 1761 to 1791 Tribute Road. Expo Centre is currently 81 percent leased with in-place rental rates that are about 18 percent below market value. BKM plans to implement a series of capital improvements to reposition the property. BKM acquired the property from a private syndication managed by Sperry Equities. Palmer Capital represented the seller in this transaction.
WALL TOWNSHIP, N.J. — G.S. Wilcox & Co. has arranged a $9.8 million loan for the refinancing of three flex buildings in the Allaire Corporate Campus in Wall Township. Thrivent Financial for Lutherans provided the 10-year term loan. The borrower was a repeat client of G.S. Wilcox. The property, which is currently 100 percent leased to three tenants, is located less than two miles from I-95.
DAYTONA BEACH, FLA. — Monmouth Real Estate Investment Corp. has acquired a new industrial building located at 1341 N. Clyde Morris Blvd. in Daytona Beach for $30.8 million. The seller, VanTrust Real Estate, completed the 399,440-square-foot, build-to-suit facility for B. Braun Medical Inc. in 2017. The Pennsylvania-based medical device company manufactures, markets and sells healthcare products worldwide and is a subsidiary of B. Braun Melsungen AG, based in Germany. The property is net-leased to B. Braun for 10 years. The building is situated on 27.5 acres, roughly four miles from Daytona Beach International Airport and near Interstate 4.
ATLANTA — Weaver Capital Partners and the Seng Co., in conjunction with their joint venture equity partner SilverCap Partners, has acquired a 515,000-square-foot industrial portfolio located along Seaboard Industrial Boulevard in Atlanta’s West Midtown district. Patterson Real Estate Advisory Group served as the joint venture’s capital advisor and arranged acquisition financing through CIBC Bank USA. The sales price and terms of the financing were not disclosed. The joint venture acquired the nine-building portfolio from Zep Inc., which formerly owned and occupied the entire property. Zep, a manufacturer of maintenance and cleaning solutions, will lease back 58,000 square feet in one of the buildings in order to consolidate its operations in Adairsville, Ga., roughly 60 miles northwest of Atlanta. The new ownership will continue to operate the portfolio as industrial space.
HOUSTON — Trammell Crow Co. has broken ground on Phase II of Fallbrook Pines Business Park, a 127-acre industrial development located in northwest Houston. Phase II, which is being developed on a speculative basis, will deliver two Class A buildings totaling 660,073 square feet. Designed by Powers Brown Architecture, the buildings will feature cross-dock configurations, 32-foot clear heights, 52-foot wide column spacing, ESFR sprinkler systems and extra trailer parking and outside storage space. Delivery is slated for November. Phase I of the project, which delivered roughly 709,000 square feet, was completed in October 2015 and is fully leased to seven tenants.
STURTEVANT, WIS. — The Dickman Company Inc./CORFAC International has brokered the sale of a 187,000-square-foot industrial building in Sturtevant, about 28 miles south of Milwaukee. The sales price was not disclosed. The property is located at 2620 90th St. Gallo Business Center Investments LLC purchased the building from 90th Street Industrial LLC. Samuel M. Dickman Jr., Samuel D. Dickman and Zach Noble of Dickman brokered the transaction.
WATERFORD, MICH. — Marcus & Millichap has arranged the sale of Secured Self Storage in Waterford, about 35 miles northwest of Detroit. The sales price was not disclosed. The 72,125-square-foot self-storage facility is located at 4303 Highland Road. Built in 1982, the property consists of 20 climate-controlled units and 535 standard units. Brett Hatcher and Gabriel Coe of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also secured and represented the out-of-state buyer.
