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Industrial

Ares-Mgmt-Portfolio-CA
CaliforniaIndustrialLoansWestern

Cushman & Wakefield Arranges $475M CMBS Financing for 4.8 MSF Industrial Portfolio for Ares Management

by Amy Works

LOS ANGELES — Cushman & Wakefield, on behalf of an Ares Management Real Estate fund, has arranged $485 million in financing backed by a 4.8 million-square-foot, 25-building industrial portfolio spanning 16 markets in 12 states. The floating-rate, CMBS single-borrower (SASB) financing was provided by a syndicate led by J.P. Morgan, with Morgan Stanley and Natixis Corporate & Investment Banking as joint bookrunners. Rob Rubano, Gideon Gil, Brian Share, Joe Lieske, Ernesto Sanchez and Lars Weston of Cushman & Wakefield Equity, Debt and Structured Finance led the financing. Managed by Ares Industrial Management, the portfolio is currently 97 percent leased to 58 tenants. The properties feature Class A and Class B, bulk warehouse and light industrial assets. The individual assets offer a variety of industrial features, including 30-foot average clear heights, ample dock doors and an average 5 percent of office space square footage across the portfolio. The portfolio includes two properties in the San Francisco Bay area totaling 518,300 square feet; three properties in Southern California totaling 344,700 square feet; five properties in Houston totaling 693,900 square feet; a 722,500-square-foot property in Reno, Nev.; and a 797,600-square-foot property in Atlanta. The remaining properties in the portfolio are spread across Salt …

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13201-Dahlia-St-Fontana-CA
AcquisitionsCaliforniaIndustrialWestern

Rexford Industrial Buys Fully Leased Industrial Building in Fontana, California for $70.1M

by Amy Works

FONTANA, CALIF. — Rexford Industrial has acquired an industrial property, located at 13201 Dahlia St. in Fontana, from an undisclosed seller for $70.1 million. Constructed in 1989, the cross-dock industrial facility features 30-foot clear heights, 59 dock-high door and four grade-level doors. At the time of sale, the 278,650-square-foot building was fully leased to a credit tenant. Mark Detmer, Patrick Nally, Evan Moran, Mike McCrary, Jeff Bellitti, Ruben Goodsell and Hunter McDonald of JLL handled the transaction.

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IndustrialLeasing ActivityTexas

Newmark Negotiates 218,400 SF Industrial Lease Extension in Irving

by Taylor Williams

IRVING, TEXAS — Newmark has negotiated a 218,400-square-foot industrial lease extension at Building 4 of Valley View Business Center in Irving. The 414,871-square-foot building was constructed on 23 acres in 2009 and features 30-foot clear heights, 87 dock-high doors and five drive-in doors. John McMillan, Jeff Sanita, Danny Williams, Connor Reeves and Garrett Gibbons of Newmark represented the tenant, ASC Engineered Solutions, in the lease negotiations. Holt Lunsford Commercial represented the landlord, Brookfield Properties.

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AcquisitionsIndustrialMichiganMidwestNAISelf-StorageWisconsin

NAI Pfefferle Negotiates Sale of Five-Property Self-Storage Portfolio in Michigan, Wisconsin

by Kristin Harlow

MICHIGAN AND WISCONSIN — NAI Pfefferle has negotiated the sale of a five-property self-storage portfolio in Michigan and Wisconsin. The assets total 355 units across 73,358 square feet. The sales price was undisclosed, but the asking price was $3.9 million. Jonathan Glassco of NAI Pfefferle brokered the sale. Buyer and seller information was not provided.

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AcquisitionsIllinoisIndustrialMidwest

Industrial Outdoor Ventures Acquires 10-Acre Industrial Service Facility in Channahon, Illinois

by Kristin Harlow

CHANNAHON, ILL. — Industrial Outdoor Ventures (IOV) has acquired a 10-acre industrial service facility in Channahon near Joliet for an undisclosed price. Located on Riverside Drive, the asset consists of four grade-level equipment maintenance facilities, each approximately 15,000 square feet. The yard area can accommodate 128 trailer parking stalls. The property, leased to six tenants on a short-term basis, is situated near the BNSF and UP intermodals as well as I-55 and I-80. Josh Hearne, Andrew Bobak and Reiner Pranger of Cawley Chicago have been named the leasing agents for the property. Patrick Stanton of Patrick Commercial represented the undisclosed seller.

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LogistiCenterOxbow-Seattle-WA
AcquisitionsIndustrialWashingtonWestern

EQT Exeter Acquires LogistiCenter @ Oxbow Industrial Facility in Seattle for $81.5M

by Amy Works

SEATTLE — EQT Exeter Real Estate Income Trust has purchased LogistiCenter @ Oxbow, a distribution facility in Seattle, for $81.5 million. Brett Hartzell and Paige Morgan of CBRE National Partners West represented the seller in the transaction. The seller was not disclosed, but the property was listed as a previous project on Dermody Properties’ website. Situated on 45.1 acres at 2871 S. 102nd St., LogistiCenter @ Oxbow offers 202,464 square feet of industrial space. Built in 2021, the property features low 10 percent coverage, 36-foot clear heights, 135-foot truck courts and a full drive-around capacity. The property was built as a build-to-suit for Amazon, according to Dermody Properties.

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IndustrialLoansSouth CarolinaSoutheast

CH Realty Partners Secures $50M Refinancing for Industrial Facility Near Spartanburg, Carolina

by John Nelson

UNION, S.C. — Development and investment firm CH Realty Partners has secured a $50 million loan for the refinancing of its industrial facility located at 260 Midway Drive in Union, roughly 30 miles southeast of Spartanburg. Built in 2023 for mycelium technology company MycoWorks, the property spans 150,000 square feet. The refinancing with 3650 Capital will allow CH Realty Partners to optimize the capital structure of the property and ensure long-term support for MycoWorks. CH Realty Partners is also currently underway on a build-to-suit food manufacturing facility in Wilson, N.C., for Believer Meats.

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CTX-110-Kyle
DevelopmentIndustrialLoansTexas

Lincoln Property Co., Goldman Sachs Break Ground on 894,000 SF Industrial Project in Kyle, Texas

by Taylor Williams

KYLE, TEXAS — A partnership between Dallas-based developer Lincoln Property Co. and Goldman Sachs has broken ground on CTX 110, an 894,000-square-foot industrial project in Kyle, located southwest of Austin. Formerly known as Waterstone, the development will consist of four buildings that will range in size from 152,940 to 335,879 square feet. Buildings will feature a mix of cross-dock and front-load configurations, 32- to 36-foot clear heights and a combined total of 232 dock-high doors, 10 drive-in doors and 994 parking spaces. Powers Brown is the project architect. Campbell Roche, Kyle Spencer, Will Mogk, Kristi Leonard, Ryan Pollack and Campbell Swango of JLL arranged $83.8 million in construction financing through Bank OZK and Affinius Capital on behalf of the partnership. JLL has also been retained as the leasing agent. Completion is slated for late 2025.

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IndustrialLeasing ActivityTexas

Stream Realty Partners Negotiates 300,000 SF Industrial Lease in Northeast Houston

by Taylor Williams

HOUSTON — Stream Realty Partners has negotiated a 300,000-square-foot, full-building industrial lease in northeast Houston. According to LoopNet Inc., the building at 9255 Railwood Drive was completed in 2003. Boone Smith and Garret Geaccone of Stream represented the landlord, New York City-based DRA Advisors, in the lease negotiations. Kent Willis of Colliers represented the tenant, nVntori, a provider of logistics and supply chain solutions.

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AcquisitionsIndustrialTexas

Bradford Arranges Sale of 19,000 SF Warehouse in Aledo, Texas

by Taylor Williams

ALEDO, TEXAS — Dallas-based brokerage firm Bradford Commercial Real Estate Services has arranged the sale of a 19,000-square-foot warehouse in Aledo, located west of Fort Worth. The two-tenant building was constructed on a four-acre site at 377 Savage Lane in 2017. Shane Benner of Bradford represented the buyer, an entity doing business as 4T4 Pack LLC, in the transaction. Cole Collins of Marcus & Millichap represented the seller.

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