Industrial

CBRE Arranges $70.6M Sale of 1.2 MSF Industrial Portfolio in Suburban Twin Cities

by Kristin Harlow November 21, 2017

MINNEAPOLIS — CBRE has arranged the sale of a 1.2 million-square-foot industrial portfolio in the Twin Cities metro area for $70.6 million. The portfolio, which features 14 buildings across seven properties, includes: Corporate Square in Eagan; Eagan Industrial Warehouse in Eagan; Braemar Business Center in Bloomington; Northpoint Industrial Center in Fridley; France Avenue Business Park in Brooklyn Center; Round Lake Business Center in Arden Hills; and Burnsville Business Center in Burnsville. The portfolio was 81 percent leased at the time of sale to tenants such as Ameriprise Inc., Staples, Supply Technologies LLC and Galil Medical Inc. Ryan Watts, Judd Welliver, Sonja Dusil and Tom Holtz of CBRE marketed the portfolio for sale on behalf of Artis REIT. Capital Partners LLP purchased the portfolio in a joint venture with PCCP LLC.

November 21, 2017

Industrial Loans New Jersey New York Northeast

HFF Arranges $663M in Financing for Retail Properties in New York, New Jersey for Urban Edge Properties

by Amy Works November 21, 2017

NEW YORK AND NEW JERSEY — HFF has arranged 16 financings totaling $663 million secured by 15 retail properties and one industrial property totaling 4.6 million square feet in New York and New Jersey. Scott Aiese, Jon Mikula and Mike Tepedino of HFF secured the 16 separate loans with two CMBS lenders, three life company lenders and one bank for the borrower, Urban Edge Properties. The loans include 14 fixed- and two floating-rate facilities with terms ranging from seven to 13 years. Loan proceeds will be used to pay off existing CMBS debt and create additional proceeds, while staggering and lengthening the duration of the borrower’s maturity schedule. The portfolio comprises 98.1-percent-leased retail centers anchored by grocery stores, including ShopRite, Stop & Shop and Aldi; The Home Depot; Lowe’s Home Improvement Warehouse; Costco; BJ’s Wholesale Club and Walmart; and one multi-tenant warehouse property in East Hanover, N.J. The 16 properties are in dense submarkets with affluent demographics, including 15 located in New Jersey and one in New York.

November 21, 2017

Industrial Massachusetts Northeast

Calare Properties Acquires 103,200 SF Industrial Building in Canton, Massachusetts

by Amy Works November 21, 2017

CANTON, MASS. — Calare Properties has purchased an industrial property, located at 15-21 University Road in Canton, for an undisclosed price in an off-market transaction. Situated on 17 acres, the 103,200-square-foot property was vacant at the time of sale. The property features 14 loading docks, six drive-in docks, more than 300 parking spaces and flexible floor plans. The name of the seller was not released.

November 21, 2017

Illinois Industrial Midwest

Windy City Wire Signs 247,500 SF Industrial Lease Renewal in Bolingbrook, Illinois

by Kristin Harlow November 21, 2017

BOLINGBROOK, ILL. — Windy City Wire Cable and Technology Products LLC has signed an industrial lease renewal and expansion in Bolingbrook, a southwest suburb of Chicago. The cable management company now occupies the entire 247,500-square-foot facility, which is located at 386 Internationale Drive. The property features 30-foot clear heights, 42 exterior docks and nine drive-in doors. Kevin Mackey of TIG represented Windy City Wire in the transaction. ML Realty Partners is the property landlord.

November 21, 2017

California Industrial Western

Berdan Holdings Buys FedEx Shipping Facility in Carlsbad, California, for $24.5M

by Nellie Day November 20, 2017

CARLSBAD, CALIF. — Berdan Holdings has purchased a 109,807-square-foot FedEx shipping facility in Carlsbad for $24.5 million. The facility is located at 2495 Faraday Ave. The property was built in 1999. It is fully leased to FedEx on a net lease basis. Property features include 32-foot clear height, 10,900 square feet of office space, nine dock and nine grade-level doors. Ron Jacobson of SD Realty Partners represented Berdan Holdings, while Aric Starck of Cushman & Wakefield’s San Diego office represented the seller, Leonard Living Trust, in this transaction.

November 20, 2017

Arizona Industrial Western

Lincoln Property Co. to Break Ground on 901,700 SF Spec Industrial Center in Arizona

by Nellie Day November 20, 2017

GOODYEAR, ARIZ. — Lincoln Property Co. has announced plans to break ground on Lincoln Logistics 40, a 901,700-square-foot spec industrial development in Goodyear, in December. The development will be the area’s first speculative industrial project to offer a 40’ clear ceiling heights. The project will be situated along Interstate 10 at Bullard Avenue on 50 acres within the Airport Gateway at Goodyear business park. Lincoln Logistics 40 will feature 169 dock and grade-level doors, 185 trailer storage stalls, up to 660 parking stalls, fiber optic data and energy-efficient clearstory windows in lieu of skylights. Completion is slated for mid-2018. Layton Construction will build the project. The architect is Butler Design Group. CBRE’s Pat Feeney, Dan Calihan and Rusty Kennedy represented the land seller, EJM Development Co. The firm’s John Werstler and Cooper Fratt represented Lincoln Property in the land purchase. Werstler, Kennedy and Fratt serve as the Lincoln Logistics 40 exclusive leasing team.

November 20, 2017

Industrial New Hampshire Northeast

Cushman & Wakefield Brokers $6.6M Sale of 98,595 SF Flex Building in Nashua, New Hampshire

by Amy Works November 20, 2017

NASHUA, N.H. — Cushman & Wakefield has arranged the sale of a flex building located at 472 Amherst St. in Nashua. BSP Cotton Road LLC, an entity related to Brady Sullivan Properties, sold the property to Pinnacle Properties for $6.6 million. Situated on 7.7 acres, the two-building property totals 98,595 square feet and is leased to multiple tenants. Tom Farrelly, Sue Ann Johnson and Denis Dances of Cushman & Wakefield, in collaboration with Charles Panasis, Ben Kelley and James Tobin of Brady Sullivan Properties, represented the seller in the deal.

November 20, 2017

Florida Industrial Southeast

Westmount Realty Capital Sells 332,250 SF Industrial Portfolio in Tampa

by Camren Skelton November 20, 2017

TAMPA, FLA. — Westmount Realty Capital LLC has sold a 332,250-square-foot, 14-building industrial portfolio located in Tampa’s Westside submarket. The sales price and seller were not disclosed. The portfolio includes six showroom and flex buildings on West Waters Avenue, two rear-load, dock-high buildings on Sunstate Street and six front-load, dock-high distribution warehouse buildings on Pioneer Park Boulevard. Westmount originally acquired the portfolio in 2013 and invested in exterior upgrades. The portfolio’s occupancy rates improved during Westmount’s ownership from 75 to 94.5 percent.

November 20, 2017

California Industrial Western

Former LA Times Printing Plant Site in Costa Mesa Sells for $65M

by Nellie Day November 17, 2017

COSTA MESA, CALIF. — A joint venture that includes SteelWave has acquired a 24-acre site that previously served as a Los Angeles Times printing plant in Costa Mesa for $65 million. The site is located at 1350 South Coast Drive. The 50-foot-tall steel frame building on the property was used by the Los Angeles Times and three of its community newspapers as a printing plant, distribution facility and office until it closed in 2010. The facility is known as The Press. Redevelopment plans include more than three acres of outdoor amenities, as well as a 20,000-square-foot raised patio. SteelWave plans to re-brand the space as the Hive. Rick Kaplan and Rob Lambert of Cushman Wakefield represented the sellers, Tribune Real Estate Holdings, a subsidiary of Tribune Media Co., and Kearny Real Estate. Kearny Real Estate has worked with the City of Costa Mesa to re-entitle and redevelop the property over the past two years.

November 17, 2017

Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 274-Unit Self-Storage Facility in Katy

by Taylor Williams November 17, 2017

KATY, TEXAS — Marcus & Millichap has arranged the sale of Franz Road Self Storage, a 274-unit self-storage facility located at 23012 Franz Road in the Houston metro of Katy. Dave Knobler of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a limited liability company. Both parties requested anonymity.

November 17, 2017

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