KATY, TEXAS — Bellomy & Co. has arranged the sale of Saums Road Self Storage, a self-storage facility in the Houston metro of Katy that features 306 units across 27,270 square feet of net rentable space. The sale includes additional land for expansion. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. represented the undisclosed seller and procured the undisclosed buyer, both of which are based in Texas.
LOS ANGELES — The Magellan Group has sold two Los Angeles-area properties for a total of $77.6 million. The transaction includes Commerce Business Center and Magellan Storage – Commerce, both located in the Commerce submarket. Blackstone Property Partners acquired Commerce Business Center, a 290,000-square-foot industrial facility. The project included 90,000 square feet of new construction built by Magellan to meet demand for smaller tenant spaces in the market. U.S. Storage Centers purchased Magellan Storage – Commerce, a 1,348-unit, 144,000-square-foot self-storage facility. Magellan’s value-add strategy for the project entailed the redesign and redevelopment of a former industrial building. NKF represented Magellan on the business center sale, while Cushman & Wakefield represented the seller on the self-storage transaction.
CHICAGO — Chicago-based Brennan Investment Group LLC, in a joint venture with Arch Street Capital Advisors LLC, has acquired a 2.3 million-square-foot industrial portfolio located throughout four states in a sale-leaseback transaction. The sales price was not disclosed. The four buildings were net-leased back to the seller, BlueLinx Corp., a building and industrial product distributor. The buildings are located in Boston, Raleigh-Durham, Atlanta and Washington, D.C. Since 2011, Brennan and Arch Street have acquired more than $1 billion of single-tenant, net-leased industrial assets.
MONCKS CORNER, S.C. — CBRE has brokered the sale of Foxbank Industrial Park, a 201,500-square-foot manufacturing and distribution facility located at 2550 U.S. Highway 52 in Moncks Corner, roughly 30 miles north of Charleston. Patrick Gildea, Bob Barrineau, Brandon Redeyoff and Matt Smith of CBRE arranged the transaction on behalf of the seller, JL Woode. CCP Commercial Real Estate acquired the park for an undisclosed price. Foxbank Industrial Park is situated on more than 30 acres and features 25- to 35-foot clear heights, 10,280 square feet of office space, existing bridge cranes, 18 oversized ground-level doors and an outdoor storage area. Sea Fox Boats, a manufacturer of saltwater boats, anchors the property.
RIDGEFIELD, N.J. — Marcus & Millichap has brokered the sale of an industrial building located at 730 Grand Ave. in Ridgefield. A private investor acquired the property from a limited liability company for $9 million. Renovated in 2015, the 81,870-square-foot property was 93 percent occupied at the time of sale. Steve Lim of Marcus & Millichap represented the seller and buyer in the deal.
EDINBURG, TEXAS — Bellomy & Co. has arranged the sale of Superior Storage, a 524-unit self-storage facility located in the Rio Grande Valley (RGV) metro of Edinburg. The facility offers a mix of climate- and non climate-controlled units across 70,640 net rentable square feet. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. represented the Texas-based seller and procured the California-based buyer. Both parties requested anonymity.
SUSSEX, WIS. — The Dickman Co. Inc./CORFAC International has negotiated the sale of a 36,203-square-foot industrial building in Sussex, about 19 miles northwest of Milwaukee. The sales price was not disclosed. The property is located on Main Street. Sussex Crossings LLC purchased the asset from Rosenow Creek LLC. Nick Keys and Zach Noble of the Dickman Co. brokered the transaction. Three units are currently available for lease at the property.
IRVING, TEXAS — Lee & Associates has brokered the sale of a 20,864-square-foot industrial property located at 1624 W. Walnut Lane in Irving. Corbin Blount and Adam Graham of Lee & Associates represented the seller, communications firm Solaris Technologies. Trace Fielding and Greg Nelson of Paladin Partners represented the buyer, Mar-Lan Industries, a manufacturer of wire harness and electrical panels.
ENGLEWOOD, COLO. — Lincoln Property Co. has acquired Highfield Building 5, a 101,000-square-foot industrial building in Englewood, for $13.5 million. The building is located at 14150 Grasslands Drive within the Highfield Business Park. The Class A industrial distribution facility is fully leased to two tenants, Charter Communications and Gateway Classic Cars. Building 5 was initially launched as a speculative project but reached full occupancy within 12 months of breaking ground. CBRE’s Jim Bolt, Tyler Carner and Jeremy Ballenger represented the seller, a partnership between Confluent Development and Bradbury Properties, in this transaction.
RIVERSIDE AND CHINO HILLS, CALIF. — Newcastle Partners has completed construction of the 503,592-square-foot Meridian Distribution Center II in Riverside. It is situated on a 26.9-acre land parcel at 22000 Opportunity Way. Phil Lombardo, Chuck Belden and Andrew Starnes of Cushman & Wakefield’s Ontario office are responsible for marketing the project. Newcastle also started construction of a 100,326-square-foot building in the Chino Hills Commerce Center in Chino Hills. The center is located at 15291 Fairfield Ranch Road and is situated on approximately 5 acres of land. David Consani, Jim Koenig and Jason Chao of CBRE are responsible for marketing the asset for sale or lease. Newcastle Partners has developed more than 5 million square feet of industrial product in the Inland Empire region over the past eight years.
