WACO, TEXAS — Paint manufacturer and retailer Sherwin-Williams has opened its $39 million distribution center in Waco. The 615,000-square-foot center will service eight states, including Texas, and will require a workforce of 326 employees. The company projects that daily activity at the center will involve the rolling out of 65 trucks delivering roughly 3 million pounds of paint to 700 stores. Bob Moore Construction served as general contractor for the project.
EDMOND, OKLA. — Marcus & Millichap has brokered the sale of U Storage OK, a 623-unit self-storage facility in Edmond, a northern suburb of Oklahoma City. The Class A property features both climate- and non-climate-controlled units and recently underwent a 28,000-square-foot expansion. Trey Hammond and Michael Mele of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Brian Fulton of Marcus & Millichap represented the buyer, a private investment group. Both parties requested anonymity.
MCDONOUGH, GA. — PNK Group has broken ground on the first building at Southern Gateway at Lambert Farms, a more than 3 million-square-foot speculative industrial development in McDonough, a southern suburb of Atlanta. The first building is a 1.1 million-square-foot, cross-dock distribution facility with 40-foot clear heights. Additional plans for the Southern Gateway project include an adjacent 1.5 million-square-foot cross-dock building and two rear-load facilities totaling 358,000 and 275,000 square feet. Pat Murphy, Ray Stache, Lisa Pittman and Tara Healy of Cushman & Wakefield are handling the development’s leasing assignment. Upon completion, the park will feature a 1.2-mile landscaped walking trail, a food truck court and electric vehicle charging stations. Pattillo Construction Corp. is the project’s general contractor, Macgregor Architects & Associates is the architect and Eberly & Associates, Contour Engineering and Contour Environmental make up the project’s engineering team.
ELK GROVE VILLAGE, ILL. — Colliers International has brokered the sale of a 225,006-square-foot industrial warehouse in Elk Grove Village. The sales price was not disclosed. The property is located at 1501 Nicholas Blvd. The buyer, GHP Group Inc., is a manufacturing company that specializes in electric fireplaces and accessories, personal heating products and gas grills. Chris Volkert and Brendan Green of Colliers represented GHP Group in the sale. Ken Franzese and John Cassidy of Lee & Associates represented the seller, Prologis.
LITHIA SPRINGS, GA. — LRC Properties, in a joint venture with Ladder Capital, has acquired 7705 Staples Drive, a 644,040-square-foot industrial building in Lithia Springs. The manufacturing and food processing facility is located on 40 acres roughly 18 miles west of Atlanta. The building, constructed in 2007 and renovated in 2015, features a wastewater treatment plant, air compressors, large electrical load capacity, air conditioned space and a laboratory. Colliers International arranged the transaction on behalf of the seller, a joint venture between Keurig and AB InBev. The sales price was not disclosed.
AUSTIN, TEXAS — U.S. Storage Centers has acquired a 379-unit self-storage facility located at 5405 Wasson Road in Austin. With the acquisition of this property, which features climate-controlled units, drive-up access and vehicle storage spaces, U.S. Storage Centers now owns and operates 20 facilities in Texas. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. represented the seller, Move It Self Storage, in the transaction. The buyer was self-represented.
SPARTANBURG, S.C. — Columbia-based Red Rock Developments has unveiled plans to develop Smith Farms Industrial Park, a 5.9 million-square-foot industrial project in Upstate South Carolina’s Spartanburg County. The development will be located on 475 acres at the intersection of Highway 101 and Reidville Road, roughly three miles from Interstate 85 and eight miles from the Greenville/Spartanburg International Airport. According to the developer’s site plans, the project could eventually include up to 11 buildings, ranging in size from 60,000 square feet to 1.6 million square feet. The company said it will soon reveal details of a speculative building to be constructed at the site. A construction timeline was not disclosed. Red Rock has tapped NAI Earle Furman to market and lease Smith Farms.
SANTA FE SPRINGS, CALIF. — Bridge Development Partners has completed the disposition of three industrial properties totaling 224,000 square feet at Bridge Point Santa Fe Springs in Los Angeles County. Two of the buildings were completed as build-to-suit developments for the companies that acquired them, while the third was sold to a real estate investment firm. UniFirst Corp. acquired the 74,120-square-foot Building I, located at 13101 Rosecrans Ave. Paul Sablock and Christopher Lawrence of JLL represented the buyer. Novella Plastics purchased 75,331-square-foot Building II, located at 13123 Rosecrans Ave. Michael Lee of Redpoint Realty represented Novella Plastics in the deal. Westcore Properties acquired the 74,038-square-foot Building III, located at 13915 Maryton Ave., upon completion of the shell. Westcore leased the property to Carroll Tire Co., a division of Sumitomo Tire. Scott Heaton and Chris Sheehan of Colliers International represented Bridge Development in all three transactions, as well as Westcore Properties. Financial terms of the deals were not disclosed.
MESA, ARIZ. — NAI Horizon has arranged the acquisition of an office and industrial facility located at 10646 E. Pecos Road in Mesa. Peoria, Ariz.-based YBL LLC purchased the facility from DMW Properties, an Oregon limited liability company, for $2.7 million. The buyer, which operates as Liberty Lumber, is a contractor of residential and commercial lumber and supplies. The buyer plans to relocate its operation to the 12,436-square-foot facility. Rick Foss of NAI Horizon represented the buyer, while Tom Bean, also of NAI Horizon, represented the seller in the transaction.
TRUMBULL, CONN. — Washington Trust’s Commercial Real Estate Group has provided $6.6 million to refinance and make tenant improvements to an 83,193-square-foot multi-tenant office and industrial property in Trumbull. The 14-acre property located at 60 Commerce Drive is the former headquarters of the Pilot Pen Corp. and consists of two interconnected buildings. The front building is three levels totaling 15,505 square feet of office space while the rear building contains 67,688 square feet of office and industrial space. 60 Commerce Drive is owned by CH Commerce Drive Associates and City Park Commerce Drive.
