Industrial

CBRE Secures $17.5M in Acquisition Financing for Two Industrial Properties in New Hampshire

by David Cohen April 13, 2018

MERRIMACK, N.H. — CBRE has secured $17.5 million in acquisition financing on behalf of Calare Properties for 57-59 Daniel Webster Highway, a two-building industrial property in Merrimack. The two warehouses total 511,000 square feet. Kyle Juszczyszyn and Matthew Machiros of CBRE secured the financing from Harbor One Bank. Calare Properties is a real estate manager and operator. The tenant roster at the property currently includes Law Logistics, Nanocomp Technologies, Raymer’s Express and XPO Logistics.

April 13, 2018

Development Illinois Industrial Midwest

Meridian Constructs Truck Terminal for CenterPoint Properties in Joliet, Illinois

by Kristin Harlow April 13, 2018

JOLIET, ILL. — Meridian Design Build has completed construction of a 112,500-square-foot truck terminal for CenterPoint Properties in Joliet. The new facility is situated on a 46.4-acre site within the CenterPoint Business Center. The redevelopment project includes 17,930 square feet of office space, 169 loading positions and two drive-in doors. An adjacent 22,176-square-foot maintenance building features 17 fully equipped service bays. Cornerstone Architects provided architectural and structural design services, while Manhard Consulting completed civil engineering design.

April 13, 2018

Development Industrial Texas

Liberty to Develop 172,210 SF Industrial Facility in Irving

by Taylor Williams April 13, 2018

IRVING, TEXAS — Liberty Property Trust will develop a 172,210-square-foot industrial facility within GSW North, an industrial park in Irving. The facility will be located near Dallas-Fort Worth (DFW) International Airport and offer convenient access to State Highways 161, 360 and 183. Construction of the facility, which is slated to begin this month and wrap in December, marks Phase III of development. Cushman & Wakefield will handle leasing of the building, completion of which will bring the total size of the park to 709,000 square feet.

April 13, 2018

Acquisitions Industrial Self-Storage Texas

Bellomy Arranges Sale of 482-Unit Self-Storage Facility in Metro Austin

by Taylor Williams April 13, 2018

LEANDER, TEXAS — Bellomy & Co. has arranged the sale of Big & Safe Self Storage, a 482-unit facility in Leander, a northwestern suburb of Austin. Built in 2004 and expanded in 2014, the property features climate- and non-climate-controlled units totaling 60,475 net rentable square feet. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. represented the Vermont-based seller in the transaction. The team also procured the buyer, Montfort Capital Partners, a Dallas-based self-storage investment firm.

April 13, 2018

California Industrial Western

MCA Realty Buys 137,465 SF Industrial Building in Moorpark, California

by Nellie Day April 13, 2018

MOORPARK, CALIF. — MCA Realty has purchased a 137,465-square-foot industrial property in the Ventura County city of Moorpark. The two-building complex is located at 14399 and 14401 Princeton Ave. One of the buildings is leased to turbocharger manufacturer Turbonetics Holdings.

April 13, 2018

California Industrial Western

Dollar General to Expand Distribution Operations by 240,000 SF Near Bakersfield

by Nellie Day April 13, 2018

TEJON RANCH, CALIF. — Dollar General has expanded its presence at Tejon Ranch Commerce Center (TRCC) just south of Bakersfield with the addition of more than 240,000 square feet of warehouse space. The dollar store currently operates out of a separate building at TRCC. This expansion will allow retailer to increase its footprint by nearly 40 percent. Dollar General has used the Tejon Ranch Commerce Center as the hub of its California distribution operations for the last six years. With its expansion into the new Tejon Ranch-Majestic Realty-developed facility, it will now occupy a total of more than 850,000 square feet of space within TRCC.

April 13, 2018

Industrial Loans North Carolina Southeast

Alliant Credit Union Funds $6.4M Refinancing for Industrial Property in Charlotte

by Camren Skelton April 13, 2018

CHARLOTTE, N.C. — Alliant Credit Union has provided a $6.4 million loan for the refinancing of an industrial building located at 8825 Statesville Road in Charlotte. Alliant closed the 10-year loan with five years of interest-only payments and a 30-year amortization schedule on behalf of the borrower, RU 8825 Statesville Road Charlotte NC LLC. The 64,637-square-foot building serves as a research and development facility for Husqvarna North America, a producer of outdoor power equipment. The property is located adjacent to Husqvarna’s U.S. headquarters.

April 13, 2018

Acquisitions Florida Industrial Southeast

Colony Industrial Acquires 1.3 MSF Industrial Park in Jacksonville for $77.5M

by Camren Skelton April 12, 2018

JACKSONVILLE, FLA. — Colony Industrial, an affiliate of Colony NorthStar, has acquired Westside Industrial Park in Jacksonville for $77.5 million. The 1.3 million-square-foot park, located at 4601 and 4910 Bulls Bay Highway, includes four Class A industrial buildings. The Jacksonville Business Journal reports Pattillo Industrial Real Estate sold the portfolio, which was 99.8 percent leased at the time of sale to nine tenants. Frank Fallon, Chris Riley and Trey Barry of CBRE arranged the transaction on behalf of the seller. The acquisition marks Colony Industrial’s fourth investment in the Jacksonville market over the last nine months.

April 12, 2018

Acquisitions Industrial Kentucky Southeast

Phoenix Investors Buys Eight-Property Industrial Portfolio in Kentucky for $9.3M

by Camren Skelton April 12, 2018

MILWAUKEE — Affiliates of Milwaukee-based Phoenix Investors have acquired an eight-property industrial portfolio located throughout Kentucky for $9.3 million. The properties total 831,000 square feet and are located in Morehead, Carrollton, Danville, Maysville and Mount Sterling. Affiliates of Pope Cos. sold the properties, which were constructed between 1989 and 2004. The new owners plan to renovate the portfolio, which was 63 percent leased at the time of sale, and find new tenants for the vacant space. Bryan Flaherty of CBRE arranged the sale, and Walker & Dunlop Commercial Property Funding LLC provided financing.

April 12, 2018

Acquisitions Illinois Industrial Midwest

Plymouth Industrial REIT Buys Two Industrial Buildings in Chicago Area for $15.7M

by Kristin Harlow April 12, 2018

ELGIN AND ARLINGTON HEIGHTS, ILL. — Plymouth Industrial REIT Inc. has acquired two Class B industrial buildings in the Chicago area for $15.7 million. One of the properties is a 236,736-square-foot building located at 1600 Fleetwood Drive in Elgin. Stamar Packaging fully occupies the asset. The other property, 3 West College Drive in Arlington Heights, is 100 percent leased to Arrow Up, a provider of containerized bins for the oil fracking industry. Midwest Industrial Funds was the seller.

April 12, 2018

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