Industrial

Ready Capital Closes $14M Loan for Acquisition, Renovation of Industrial Asset in Metro Baltimore

by Camren Skelton January 22, 2018

HALETHORPE, MD. — Ready Capital Structured Finance has closed a $14 million loan for the acquisition, renovation and stabilization of a 313,000-square-foot industrial property located at 2209 Sulphur Spring Road in Halethorpe, roughly seven miles south of Baltimore. The name of the borrower was not disclosed. The 36-month, non-recourse, floating-rate loan features two extension options and flexible prepayment. The borrower plans to fully renovate interiors, as well as upgrade the building’s exterior and infrastructure. Following the renovations, the borrower will re-tenant the property at market rental rates.

January 22, 2018

Illinois Industrial Midwest

Podolsky Circle Arranges $6.2M Sale of Industrial Facility in Des Plaines, Illinois

by Kristin Harlow January 22, 2018

DES PLAINES, ILL. — Podolsky Circle CORFAC International has arranged the sale of Rand Center in Des Plaines for $6.2 million. The 136,533-square-foot industrial facility consists of four buildings and is located at 1221-1311 Rand Road. The property is currently 94 percent occupied by 43 tenants. Alissa Adler, John Homsher and Paul Tesdal of Podolsky Circle represented the seller, Ameritus Real Estate Investment. Clear Height Properties purchased the asset.

January 22, 2018

Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 635-Unit Self-Storage Facility in Corpus Christi

by Taylor Williams January 19, 2018

CORPUS CHRISTI, TEXAS — Marcus & Millichap has brokered the sale of Bay Area Mini Storage, a 635-unit self-storage facility located at 2301 Rodd Field Road in Corpus Christi. The property features 95,479 square feet of net rentable space and visibility from State Highway 357, and has undergone three expansions since its original construction in 2003. Jon Danklefs and Michael Mele of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer, a private investor. Both parties requested anonymity.

January 19, 2018

Industrial New York Northeast

SVN/Realty Three Advisors Brokers $2.8M Sale of Industrial Building in Plainview, New York

by Amy Works January 19, 2018

PLAINVIEW, N.Y. — SVN/Realty Three Advisors has arranged the sale of an industrial property located at 205 Express St. in Plainview. Robert Anton and Arthur Cerrone Jr. purchased the industrial property from 205 Express Street LLC for $2.8 million. Situated on 1.4 acres and built in 1995, the property features 20,200 square feet of industrial space. Lorraine O’Hara, Patricia Posillico and Aric Schachner of SVN/Realty Three Advisors represented the seller, while David Hunt of Hunt Corporate Services represented the buyer in the deal.

January 19, 2018

Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 305-Unit Self-Storage Facility in Metro Houston

by Taylor Williams January 18, 2018

BAYTOWN, TEXAS — Marcus & Millichap has arranged the sale of A Low Cost Self Storage, a 305-unit self-storage facility in the Houston metro of Baytown. The sale of the 35,214-square-foot property includes 1.5 acres of expansion land fronting State Highway 146. Dave Knobler of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Knobler also procured the buyer, an individual who owns 14 self-storage facilities along the Texas Gulf Coast operating under the name The Storage Place.

January 18, 2018

Alabama Industrial Southeast

Mazda, Toyota Select Huntsville for New $1.6B Auto Manufacturing Plant

by Camren Skelton January 18, 2018

HUNTSVILLE, ALA. — Mazda and Toyota leaders have selected Huntsville as the site of their new joint venture auto manufacturing plant. The automakers will invest $1.6 billion in the facility, located approximately 14 miles from Toyota’s existing Huntsville plant. The new plant will have the capacity to build 300,000 vehicles annually, with production split evenly between the two lines for each company to produce the Toyota Corolla and Mazda’s crossover model that will be newly introduced to the North American market. The facility is expected to create up to 4,000 jobs, and production is expected to begin by 2021. The joint venture plant marks the 11th U.S. manufacturing facility for Toyota.

January 18, 2018

Georgia Industrial Office Southeast

Granite, Third & Urban Form Development Partnership, Will Redevelop Warehouses in Atlanta’s West Midtown District

by Camren Skelton January 18, 2018

ATLANTA — Granite Properties has formed a long-term partnership with Third & Urban for the recapitalization and development of two warehouse properties in Atlanta’s West Midtown district. The partnership will create a portfolio to include the recapitalization of Complex, an adaptive reuse project Third & Urban unveiled in December 2016. The building is 80 percent leased to tenants including Proof of the Pudding, Bold Monk Brewing, Look Listen and LTX Solutions. The project is on track to be fully leased by June. In addition, the partnership will acquire and develop a group of warehouses located at 1218 and 1236 Menlo Drive, also in the West Midtown district. Similar to Complex, the new development — dubbed Inland Tract — will offer creative flex space for tenants that need both office and warehouse space.

January 18, 2018

Arizona Industrial Office Western

Rich Uncles Acquires 162,714 SF Creative Office, Warehouse Space in Arizona for $26.5M

by Nellie Day January 18, 2018

CHANDLER, ARIZ. — Rich Uncles NNN REIT Inc. has purchased a 162,714-square-foot creative office/warehouse space in Chandler for $26.5 million. The property serves as the headquarters for AvAir, a commercial aircraft parts business. The property is located at 6877 and 6971 W. Frye Road. The sale agreement allows AvAir to occupy the space for 15 years. Developed in 2015, the two buildings sit on 6.1 acres in the Santan Technology Park at the northeast corner of Loop 202 and 56th Street. Andy Ogan of Lee & Associates Arizona brokered the sale. John Hink of Tiffany & Bosco P.A. assisted the seller, Reasons Aviation LLC.

January 18, 2018

California Industrial Western

Sunshine Metals Leases 68,394 SF Industrial Warehouse in Corona, California

by Nellie Day January 18, 2018

CORONA, CALIF. — Sunshine Metals has signed an eight-year lease for a 68,394-square-foot freestanding industrial warehouse in Corona. The property is located at 1228 Sherborn St. The lease is valued at $4 million. Sunshine Metals is relocating from a previous Fullerton outpost. The company chose the building based upon its upgraded amenities and ease of access throughout Southern California, as well as to the ports of Los Angeles and Long Beach that the Inland Empire provides. Chris Migliori of DAUM Commercial Real Estate Services represented the landlord, Excel Business Park, in this transaction. JLL’s Cameron Driscoll and Luke McDaniel represented Sunshine Metals.

January 18, 2018

Illinois Industrial Midwest

Illinois Tool Works Signs 102,390 SF Industrial Lease in Lockport, Illinois

by Kristin Harlow January 18, 2018

LOCKPORT, ILL. — Illinois Tool Works Inc. (ITW) has signed a 102,390-square-foot industrial lease in Lockport, 30 miles southwest of Chicago. ITW is a global manufacturer of engineered fasteners and components. The 293,872-square-foot industrial facility is located within Heritage Crossing, a 228-acre business park. H. Charles Osweiler of Nicolson Porter & List represented ITW in the lease transaction. Dan Leahy, Mark Moran and John Whitehead of NAI Hiffman represented ownership, ML Realty Partners.

January 18, 2018

Newer Posts

Older Posts