DALLAS — Sealy & Co. has acquired a 1.5 million-square-foot industrial portfolio located in four submarkets in Dallas. The industrial portfolio is comprised of 18 buildings occupied by a diverse tenant base. The assets were acquired as part of the Sealy Strategic Equity Partners LP portfolio. The seller in the transaction was undisclosed.
CARROLLTON, TEXAS — Lee & Associates has negotiated the sale of a 120,483-square-foot industrial building located at 2425 Camp Ave. in Carrollton. Nathan Denton, Adam Graham and Corbin Blount of Lee & Associates’ Dallas/Fort Worth office represented the seller, Evergreen Properties. Ryan Boozer and Todd Poticny of Stream Realty Partners LP represented the buyer, UT Vehicle.
MCCOOK AND HANOVER PARK, ILL. — Gramercy Property Trust has acquired two single-tenant industrial properties near Chicago for $60.2 million in separate transactions. In the first deal, Gramercy purchased a 147,923-square-foot, temperature-controlled facility in McCook, approximately 15 miles west of Chicago. The building, constructed in 2012, is leased to a global supplier for the food service industry. Gramercy also acquired a 238,423-square-foot distribution center in Hanover Park, approximately 35 miles west of Chicago. An international provider of information technology hardware, software and service solutions occupies the building, and the two tenants have a weighted average remaining lease term of 17.2 years. The sellers in the transactions were undisclosed.
WOONSOCKET, R.I. — Sweeney Real Estate & Appraisal has brokered the sale of the former Woonsocket Glass & Mirror building, located at 500 Pond St. in Woonsocket. T&T Woodworkers acquired the 12,791-square-foot property for an undisclosed price. The property features a drive-in door, loading dock, 18-foot ceiling heights in the warehouse, office space and a showroom area. Thomas Sweeney of Sweeney Real Estate & Appraisal represented the seller, Woonsocket Glass Fabricators, while Larry Steingold of MG Commercial represented the buyers in the deal.
BUCKEYE, ARIZ. — Cardinal IG Cos. has purchased 77 acres of land in Buckeye, where it plans to develop a 250,000-square-foot advanced glass manufacturing facility. The build-to-suit facility will be situated just south of the southeast corner of Apache Road and Southern Avenue. The purchase price was not disclosed. The space is about three miles south of Interstate 10 and three miles east of Highway 85. Buckeye is a suburb just west of Phoenix. Cardinal IG is a wholly owned subsidiary of Cardinal Glass Industries, a glass manufacturer with more than 6,000 employees and 37 manufacturing locations across the U.S. Its new manufacturing facility will produce high-quality, energy-efficient insulating glass for residential window and door companies across the globe. The site is part of 152 acres controlled by Evergreen Devco Inc. and Evergreen-Apache & Southern LLC. JLL’s Anthony Lydon and Marc Hertzberg represented Evergreen in this transaction. The firm is also marketing the remaining 75 acres on the direct southeast corner of Apache and Southern, situated just north of the Cardinal IG site.
LEAGUE CITY, TEXAS — Bellomy & Co. has arranged the sale of Space Station Self Storage in League City, 20 miles southeast of Houston. The Class A facility consists of 674 units and 77,980 square feet on 5.4 acres. The property, built in 2009, was 85 percent occupied at the time of closing. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. marketed the property on behalf of the Houston-based seller. The trio also procured the buyer, Public Storage, which is the largest self-storage operator in the United States and Europe with more than 2,000 facilities.
TOMBALL, TEXAS — Colliers International has brokered the sale of a 5.5-acre tract of land on Spell Road just west of Hufsmith Kohrville Road in Tomball. The $25 million project, the second for the Tomball Business and Technology Park, will consist of a 42,700-square-foot laboratory and office facility expected to hold 75 employees. Tom Condon Jr. of The Woodlands office of Colliers International represented the seller, Tomball Economic Development Corp. Gray Gilbert of CBRE represented the buyer, GE Betz Inc. Jane Matthews of Stewart Title Tomball coordinated the closing.
DALLAS — Lee & Associates has completed a lease renewal for a 28,891-square-foot industrial space located at 11625 Columbia Center Drive in Dallas. Nathan Denton of Lee & Associates Dallas/Fort Worth represented the tenant, Vogue Tyre, a provider of custom tires and wheels, and Mitch Pruitt internally represented the landlord, Prologis.
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Sioux City Experiences ‘Crane Craze’ Across Property Types
The skies are dotted with cranes — not the type you would find on route west to the Sandhills of Nebraska, but the type synonymous with a robust economy. It is safe to say there have never been so many cranes at work in the history of Sioux City. Several large industrial projects are resulting in further development of retail and multifamily space that has been in demand for some time in Sioux City. Retail, entertainment wave Helping to draw residents and visitors alike out into the streets of Sioux City is the $130 million Hard Rock Hotel & Casino. The Hard Rock replaced the floating Argosy riverboat casino in a first-in-the-state competitive bidding war for a land-based casino. Due to the popularity of the development since it opened in August 2014, the Hard Rock already has plans to add an $8 million casino expansion by the end of the year. Hard Rock has played a vital role in making Sioux City a regional, cultural and entertainment destination. Dallas-based Anthony Properties is planning to deliver 350,000 square feet of retail space by the summer of 2018. The 64-acre site, located at the intersection of Sunnybrook Drive and Sergeant Road, is …
LITTLETON, MASS. — Colony Capital has completed the sale of Potpourri | Littleton, a newly completed industrial facility located in Littleton. Gramercy Property Trust acquired the built-to-suit, 450,000-square-foot facility for $39.7 million. The property is fully leased to Potpourri Group on a long-term basis and will serve as the company’s regional fulfillment center. Robert Griffin, Edward Maher and Matthew Pullen of NGKF Capital Markets represented the seller in the deal.