MEMPHIS, TENN. — Sealy & Co. has purchased a 600,000-square-foot warehouse/distribution facility situated on more than 25 acres at 4221 Pilot Drive in Memphis. This acquisition is the third investment in the Memphis market on behalf of the company’s investment offering, Sealy Strategic Equity Partners. The property features modern warehouse attributes, rail service and additional trailer parking. Located in Memphis’ Southeast submarket, the property is in close proximity to Memphis International Airport and the BNSF Rail intermodal.
HOUSTON — Colliers International, on behalf of the landlord, Southwest Texas (Clinton) Industrial Park, has leased three distribution spaces in Clinton Industrial Park to three separate tenants. Stone Paving USA leased 12,735 square feet at 7241 Clinton Drive, with Mike Quint of Jackson Cooksey representing the tenant. Mantua Manufacturing Co. leased 36,560 square feet at 7201 Clinton Drive, and CD Polytech leased 10,820 square feet at 7139 Clinton Drive. Steven O’Connor of Southwest Realty Advisors represented CD Polytech and Mantua Manufacturing. Walter Menuet of Colliers International represented the landlord in all three transactions. The park is now 100 percent leased.
WORCESTER, MASS. — Kelleher & Sadowsky Associates has arranged the sale of an industrial building located at 70 Quinsigamond Ave. in Worcester. Lutco Inc. acquired the 65,000-square-foot property from A.M. Castle Metals Co. for an undisclosed price. The buyer plans to make several improvements, including significant electrical upgrades, to the property in January 2016.William Kelleher IV and Matthew Mayrand of Kelleher & Sadowsky Associates brokered the transaction.
ELK GROVE VILLAGE, ILL. — Entre Commercial Realty LLC has arranged an 11,200-square-foot industrial lease in Elk Grove Village, approximately 23 miles northwest of Chicago. The lease is for Peet’s Coffee & Tea, which will use the site at 1950 Devon Ave. as distribution space. The building totals 98,445 square feet and can accommodate multiple tenants. The facility is situated on 5.6 acres. The lease space features 18-foot clear heights, two shared docks and a private drive-in door. Dan Benassi, Dan Jones and Mike DeSerto of Entre represented the landlord, Bristol Group Inc. Joe Bronson of NAI Hiffman represented the tenant in the transaction.
SAN DIEGO — Extra Space Storage has purchased the 1,300-unit Del Sol Self Storage in San Diego for $9.5 million. The space is located at 3055 Del St. The property features nearly 60,000 square feet of self-storage space, as well as 73 RV and boat storage spaces. The seller was M4 Management. Stephen Grossman of NAI Capital executed the transaction.
LAKE FOREST, ILL. — JLL has brokered the sale of a 17,000-square-foot industrial and office property in Lake Forest, approximately 30 miles north of Chicago. North American Herb and Spice Co. purchased the property from Rothbart LLC for an undisclosed price. Technique Engineering formerly occupied the space but will relocate to a 9,600-square-foot space at 968-972 Northpoint Blvd. in Waukegan. The property that North American Herb and Spice Co. purchased is located at 13950 Polo Drive and features 19-foot clear heights and 800 amps of power. Francesca DeAmicis of JLL represented the landlord, Rothbart LLC. North American Herb and Spice Co. was self-represented in the transaction, and Paine-Wetzel TCN Worldwide represented Technique Engineering.
JANESVILLE, WIS. — CBRE has brokered the sale of a 67,680-square-foot industrial lease in Janesville, approximately 40 miles southeast of Madison. An affiliate of Sara Investment Real Estate sold the manufacturing facility to Backyard Properties of Rock Country LLC for an undisclosed price. The property, located at 2135 Beloit Ave., is 100 percent leaded to Tigre ADS USA Inc., a multinational manufacturer of construction products. Chase Brieman of CBRE represented the seller in the transaction.
SAN ANTONIO AND KINGWOOD, TEXAS — Strategic Storage Growth Trust, which is sponsored by SmartStop Asset Management, has acquired three self-storage facilities for $26.7 million. The portfolio totals 196,300 square feet of storage space and 1,400 units. The properties include one self-storage facility located in the Alamo Heights area of San Antonio, one self-storage facility located in Kingwood and another in Colorado. Another San Antonio 101,600-square-foot property is under contract and scheduled to close in January 2016. The portfolio includes 8239 Broadway, San Antonio, with 490 units and 76,700 square feet; 1671 N. Park Drive, Kingwood, with 470 units and 60,100 square feet; 875 E. Ashby Place, San Antonio, with 440 units and 83,400 square feet (under contract). The portfolio will offer climate-controlled units, drive-up units and covered RV spaces.
DENTON, TEXAS — NOVUS Realty Advisors principals John St. Clair and Grant Brodeur have completed the trade of a 444-acre tract of land at Lakeview Ranch in Denton. FSA & S Collin County purchased the investment property from owner, Canyon Energy Partners, who was represented by St. Clair, while Brodeur handled the transaction for the buyer.
LORTON, VA. — First Potomac Realty Trust has sold Newington Business Park Center, a seven-building, 256,000-square-foot industrial development in Lorton, roughly 20 miles south of Washington, D.C. An affiliate of Velsor Properties LLC purchased the industrial park for $32.5 million. The sale is part of First Potomac’s disposition strategy to sell at least $200 million of assets to improve the REIT’s balance sheet. HFF represented First Potomac in the transaction. As of Sept. 30, the industrial park was 83.3 percent leased.