Industrial

Meritex to Deliver 79,420 SF Industrial Facility Near Charlotte Douglas International Airport

by Camren Skelton December 11, 2017

CHARLOTTE, N.C. — Meritex has broken ground on a 79,420-square-foot industrial building located next to CLT Logistics Center, an 11-building industrial campus located roughly four miles south of Charlotte Douglas International Airport. Meritex acquired CLT Logistics Center in 2016 for $46.3 million, with plans to develop on the adjacent land site. The new building will feature 32-foot clear heights, a 60-foot speed bay, store fronts with timber panel finishes and additional trailer storage. The project is the first phase of a larger plan to develop three distribution buildings on the site, which will accommodate approximately 220,000 square feet. The first phase is expected to deliver by spring 2018. Foundry Commercial will manage the project and handle the property’s leasing assignment.

December 11, 2017

Illinois Industrial Midwest

NAI Hiffman Brokers Sale of 161,740 SF Industrial Building in Bridgeview, Illinois

by Kristin Harlow December 11, 2017

BRIDGEVIEW, ILL. — NAI Hiffman has brokered the sale of a 161,740-square-foot industrial building in Bridgeview, about 13 miles southwest of Chicago. The sales price was not disclosed. The property is situated along I-294 at 7400-7420 Richards Road. The building features 18 exterior docks, one drive-in door, 24-foot clear heights and parking for 60 cars. Chris Gary and Jay Maher of NAI Hiffman represented the seller, Transwestern Investment Group. Adam Haefner of Darwin Realty & Development Corp. represented the buyer, Rex Carton Co., a manufacturer of corrugated boxes and custom shipping containers.

December 11, 2017

Industrial Texas

Stockbridge Capital Sells 936,608 SF Industrial Portfolio in Houston

by Taylor Williams December 8, 2017

HOUSTON — San Francisco-based investment and management firm Stockbridge Capital Group has sold a portfolio of four industrial properties totaling 936,608 square feet in Houston. The portfolio consists of the 206,483-square-foot Astro Business Park in south Houston; the 225,475-square-foot asset located at 5990-6018 Griggs Road; the 298,081-square-foot McCarty Business Park; and the 206,569-square-foot property located at 8710-8798 Westpark Drive on the city’s southwest side. The portfolio was 95 percent leased at the time of sale. Trent Agnew and Rusty Hamlyn of HFF represented the Stockbridge Capital in the sale. ATCAP Fund I LP, the investment vehicle of Dallas-based ATCAP Partners, purchased the portfolio for an undisclosed price. HFF’s Brian Carlton and Cameron Cureton also secured an undisclosed amount of acquisition financing for the transaction through Global Atlantic Financial Group.

December 8, 2017

Industrial Self-Storage Texas

E.E. Reed Breaks Ground on 1,753-Unit Self-Storage Facility in West Houston

by Taylor Williams December 8, 2017

HOUSTON — E.E. Reed Construction LP has broken ground on a 1,753-unit self-storage facility in west Houston for Proguard Storage. Upon completion, the six-story, climate-controlled facility will total 268,593 square feet. Houston-based Edgecomb & Associates is designing the project, which is scheduled to be complete in November 2018. The project will be the fourth self-storage facility for E.E. Reed since 2011.

December 8, 2017

Industrial Texas

NAI Partners Brokers Sale of 48,300 SF Industrial Portfolio in Houston

by Taylor Williams December 8, 2017

HOUSTON — NAI Partners has brokered the sale of a three-building, 48,300-square-foot industrial portfolio located at 18155 Chisholm Trail in north Houston. The three buildings, which total 21,000, 14,500 and 12,800 square feet, are located on the former campus of oil and gas firm Weatherford International. John Ferruzzo and Nick Peterson of NAI Partners represented the buyer, Marston Acquisition Co. LLC, in the transaction.

December 8, 2017

Georgia Industrial Loans Southeast

CBRE Secures $28.7M Acquisition Loan for Industrial Asset in Metro Atlanta

by Camren Skelton December 8, 2017

AUSTELL, GA. — CBRE has arranged a $28.7 million acquisition loan for Core5 Logistics Center at Interstate West, a 781,440-square-foot industrial facility located at 440 Interstate West in Austell, roughly 18 miles northwest of downtown Atlanta. Joel Torbora, Jonathan Rice and Jeff Ackemann of CBRE arranged the three-year loan through BMO Harris on behalf of the buyer, WPT Capital Advisors. The company acquired the facility from Core5 Industrial Partners, which developed the property in September. Core5 Logistics Center features 36-foot clear heights. Todd Barton of CBRE is handling the property’s leasing assignment.

December 8, 2017

Illinois Industrial Midwest

Midwest Industrial Funds Sells 84,000 SF Industrial Building in Chicago

by Kristin Harlow December 8, 2017

CHICAGO — Midwest Industrial Funds has sold an 84,000-square-foot industrial building in Chicago for an undisclosed price. The food production building is located at 4300 S. Morgan St. within the Stockyards Business Park. The property features 17- to 28-foot ceilings, seven exterior docks, parking for 150 cars and freezer space on a nine-acre site. An affiliate of WP Carey, which had a long-term lease agreement in place with Griffith Foods at closing, purchased the property. Scott Duerkop, Jason Volpe and Sean Devaney of JLL represented the buyer and Griffith Foods in the transaction. Brian Vanosky, Tom Condon and Tim McCahill of Lee & Associates represented Midwest Industrial Funds.

December 8, 2017

Illinois Midwest Self-Storage

Marcus & Millichap Arranges $4.4M Sale of Self-Storage Facility in Romeoville, Illinois

by Kristin Harlow December 8, 2017

ROMEOVILLE, ILL. — Marcus & Millichap has arranged the sale of Space Savers Self Storage in Romeoville for $4.4 million. The 44,000-square-foot self-storage facility is located at 645 S. Weber Road. Built in 2005, the facility offers climate-controlled, indoor, outdoor and portable storage units. For security, the facility features 24-hour surveillance and all units are electronically controlled. Sean Delaney and Michael Male of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The team also procured the buyer, a private investor.

December 8, 2017

Industrial Washington Western

Peregrine Realty Partners Buys 205,554 SF Industrial Property in Seattle for $36.5M

by Nellie Day December 8, 2017

SEATTLE — Peregrine Realty Partners has purchased North Creek Parkway Center, a 205,554-square-foot flex industrial/office park in the North Creek submarket east of Seattle, for $36.5 million. The six-building center is located at 11804-18916 North Creek Parkway. Almost half of North Creek Parkway Center’s tenants have leased space in the park for 10 plus years, including anchor Alder Biopharmaceuticals. HFF represented both the buyer and seller, an affiliate of KBS Capital Advisors, in this transaction.

December 8, 2017

Florida Industrial Southeast

First Industrial Acquires Warehouse in Broward County for $22.7M

by Camren Skelton December 7, 2017

POMPANO BEACH, FLA. — First Industrial Realty Trust Inc. has acquired a 172,120-square-foot warehouse/distribution building in Broward County’s Pompano Beach for $22.7 million. Located at 2504 N.W. 19th St., the property features 16 dock-high doors, two drive-in doors, 323 auto stalls and an additional 4.1-acre parking lot that is available for future development. Mike Davis, Rick Brugge and Michael Lerner of Cushman & Wakefield arranged the transaction on behalf of First Industrial. The name of the seller was not disclosed. Sean Rooney of Hanna Commercial, Jay Ziv of Avison Young and Matthew McAllister, Rick Etner, Chris Metzger and Christopher Thomson of Cushman & Wakefield secured a 19,000-square-foot lease with Stoncor Group Inc., a provider of corrosion and abrasion solutions for the infrastructure and construction markets. With the new lease, the facility is fully occupied.

December 7, 2017

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