NAPA, CALIF. — DivcoWest and Orchard Partners have completed the first phase of Napa Logistics Park, a 2.9 million-square-foot, master-planned warehouse distribution park in Napa County. It is situated on 218 acres adjacent to Highway 29. The project’s first phase includes a 646,000-square-foot cross-dock logistics facility, which is currently available for sale or lease. Brooks Pedder and Benjamin Conwell of Cushman & Wakefield and Greig Lagomarsino of Colliers International represent the landlords.
LAS VEGAS — Strategic Storage Trust has purchased two self storage facilities in Las Vegas for $28.1 million. The 771-unit Storage Direct-Silverado is located at 9890 Pollock Drive. The 871-unit Storage Direct- Bermuda is located at 590 E. Silverado Blvd. CBRE’s Nick Walker represented both the buyer and the seller, Silverado Mini Storage LLC, in this transaction.
STOCKTON, CALIF. — Westcore Properties has purhcsed a 172,500-square-foot industrial property in Stockton for $6 million. The facility is located at 4545 Qantas Lane. The building is fully leased to PacTiv for three years. JLL’s Robert Taylor and Tim Mustin represented the seller, the Friedman Family, in this transaction.
GREENVILLE, TEXAS — Rhino Linings Corp. is relocating its global production and blending headquarters to Greenville. Located at 1001 Ed Rutherford St., the revitalized 100,000-square-foot production plant sits on approximately 100 acres of land. The facility will include a lab, blending and material drumming machinery, large warehouse, showroom and offices. Additionally, the Greenville plant will serve as an industrial coating training facility, hosting hundreds of Rhino Linings customers and prospects interested in applying Rhino Linings products.
HOUSTON — Prologis has leased industrial space to Mahi Granite at its facility located at 8255 Kempwood in Houston. The tenant will occupy 36,750 square feet of space. Greg Barra and David Boyd of Boyd Commercial/CORFAC International represented the landlord, while Bobby Daush of Fischer and Grant Hortenstine of Avison Young represented the tenant in the lease transaction.
LIVONIA, MICH. — Colliers International has brokered the sale of the Awrey’s Bakery building in Livonia, a western suburb of Detroit. The sales price was not disclosed. The 219,225-square-foot building sits on 20 acres and is located at 12301 Farmington Road. Raffi Derbabian of Colliers International represented the seller, NJ Ventures LLC. The buyer was undisclosed. Awrey’s bakery production will continue to operate out of the building. Originally founded in 1910, the bakery remains one of the largest, privately owned bakeries in the country.
Orlando likely resides in the minds of children and children at heart as “The Happiest Place on Earth,” and those involved in its industrial market today couldn’t agree more. Over the past five years, the Central Florida industrial market has been transformed from its prior position as a spoke in the wheel of distribution to the hub. To service consumers located in the country’s third most populous state, companies are locating large distribution centers in Central Florida (hub) with smaller distribution centers in Tampa, South Florida and Jacksonville (spokes). From a distribution standpoint, Central Florida has become the statewide distribution center for Florida. Warehouse is the New Retail The world of e-commerce began with the birth of the internet in the early 90s, made a big milestone with the first secure online transaction in 1994, and today Amazon is no longer first thought of as a rainforest in South America. In fact, Amazon is so prolific that recent reports from Consumer Intelligence Research Partners estimate that Amazon Prime now reaches nearly half of U.S. households. That translates to 54 million people, just in the United States, who have paid $99 for an annual membership that enables each consumer access to …
NEW YORK CITY — Kalmon Dolgin Affiliates (KDA) has arranged the sales of sites at a sub-divided industrial complex located in Staten Island’s Mariners Harbor district to two Brooklyn-based buyers for a total of $13 million. Gary Mayzlin of KDA represented the seller, 135 Lake Avenue Realty LLC, and buyers in transactions. World Wide Plumbing acquired the property at 125 Lake Avenue, which features seven industrial acres and 100,000 square feet of warehouse buildings; and, Royal Seafood Baza Inc. purchased the property at 175 Lake Avenue, which consists of a 50,000-square-foot industrial warehouse with 40,000 square feet of parking.
LINDEN, N.J. — HFF has arranged $7 million in acquisition financing for a warehouse and distribution building located at 1501-1525 W. Blancke St. in Linden. The borrower, Penwood Real Estate Investment Management, will use proceeds of the loan to purchase the building and fund immediate and future capital expenditures, tenant improvements and leasing commissions. Vantage Specialty Chemicals and HelloFresh occupy the 115,913-square-foot facility. Michael Klein of HFF arranged the five-year, fixed-rate loan with First Bank New Jersey for the borrower.
CARLSTADT, N.J. — Terreno Realty Corp. has acquired an industrial property, located at 248 Paterson Plank Road in Carlstadt, for $5 million. Situated on 5.2 acres, the 31,000-square-foot property features 64 dock-high and two grade-level loading positions, parking for 25 cars and trailer storage. At the time of sale, the property was fully leased to two tenants. The name of the seller was not released.