NEW BRUNSWICK, N.J. — JLL has arranged a $13.6 million acquisition loan for a 35,800-square-foot industrial outdoor storage facility located outside of Trenton in New Brunswick. The site spans 6.4 acres and houses three buildings totaling 10,300, 19,500 and 9,000 square feet. Buildings feature 24- to 28-foot clear heights and a combined 26 dock positions. Michael Klein, Max Custer and Benjamin Morgenthal of JLL arranged the three-year, floating-rate loan through Byline Bank on behalf of the borrower, regional investment firm Ridgecut Road.
ELLABELL, GA. — VanTrust Real Estate has sold Building C of Interstate West, an approximately 1.2 million-square-foot industrial facility located near the Port of Savannah in Ellabell. Transwestern Investment Group (TIG) purchased the property from VanTrust for an undisclosed price. Britton Burdette, John Huguenard, Matt Wirth, Dennis Mitchell and Jim Freeman of JLL represented VanTrust in the transaction. Located at 77 Logistics Drive, Building C is fully leased to Webstaurant Store Inc., a subsidiary of Clark Associates Inc. Built in 2022, the property features 185-foot truck court depths, 212 dock-high doors, four drive-in doors, 244 auto spaces and 270 trailer spaces. VanTrust is also underway on a 2 million-square-foot build-to-suit project for retailer Burlington within the 515-acre Interstate West industrial park.
WEST CALDWELL, N.J. — NAI DiLeo-Bram has negotiated the sale of a 30,000-square-foot industrial building in the Northern New Jersey community of West Caldwell. The buyer, 85°C Bakery Café, will use the space for warehouse and distribution purposes to support its new retail locations that are opening in Cherry Hill and East Hanover in the coming weeks. David Simon and Kyle Gerace of NAI DiLeo-Bram represented the owner-occupant in the transaction. The seller and sales price were not disclosed.
TUCSON, ARIZ. — Lincoln Property Co. has broken ground on I-10 International, a Class A industrial project on 79 acres in Tucson. The $75 million Phase I totals 373,811 square feet across two distribution buildings: the 158,944-square-foot Building 1 and the 214,867-square-foot Building B. Phase I will also include a 188,434-square-foot Building 3. All buildings at I-10 International Phase I will be cold capable with 32-foot clear heights, 14-foot tall glass entrances, full concrete truck courts, generous use of clerestory windows and an R-38 insulated roof deck system. The project team includes Brinkmann Constructors as general contractor, and Butler Design Group and Ware Malcomb as architects. Jesse Blum of PICOR/Cushman & Wakefield is providing leasing services on behalf of Lincoln Property Co.
ILLINOIS, IOWA, MICHIGAN AND WISCONSIN — TPG Angelo Gordon has acquired a 780,000-square-foot, seven-building manufacturing portfolio in a sale-leaseback transaction with Douglas Dynamics Inc., a manufacturer and upfitter of commercial work truck attachments and equipment. The transaction involves the company’s facilities in Huntley, Ill.; Manchester, Iowa; Madison Heights, Mich.; Milwaukee; and Rockland, Maine. The transaction is valued at $64.2 million, and Douglas Dynamics is expected to receive net proceeds of approximately $50 million. The company intends to use the net proceeds to pay down its term loan debt and for other corporate purposes. The initial lease for the assets is 15 years, with two 10-year options to renew.
ALSIP, ILL. — Bossard, a fastener distributor, has renewed its 68,310-square-foot industrial lease at 11800 S. Austin Ave. in Alsip. The 162,000-square-foot warehouse was constructed in 2005. Brian Vanosky, Michael O’Leary and Dylan Maher of Lee & Associates represented the owner, Cabot Properties. Ken Franzese, John Cassidy and Jim Martin of Lee & Associates represented the tenant.
KIHEI, HAWAII — DXD Capital has broken ground on a Class A self-storage facility in Kihei, a city on Maui. Upon completion, the facility will offer 355 individual storage units totaling 45,813 net rentable square feet. Situated within the Maui Research & Technology Park, the facility will offer drive-up, non-climate-controlled units. The property is slated to open in second-quarter 2025. DXD acquired the asset in April 2023. RYCON will serve as general contractor, and American Savings Bank will be the construction lender. Extra Space will manage the facility.
By Mary Lamie, Bi-State Development, St. Louis Regional Freightway The St. Louis regional industrial market continues to be a magnet for investment, with significant capital investment dollars flowing into four target industry sectors that remain key drivers of the bi-state economy. These sectors include metals, advanced manufacturing, food and AgTech, and chemicals. They are legacy industry sectors poised for continued innovation, job creation and economic diversification, in part due to the region’s exceptional logistics and transportation assets and established talent pipelines. Metals The St. Louis metropolitan area ranks second in the United States for mineral and ore exports. With more than $2.9 billion exported in 2022, the figures prove the market is well established for metals manufacturing, processing and shipping. The metals market is expected to grow with nearly 17,000 metals industry workers already in the region, and with copper supplier Wieland making a $500 million investment at its East Alton, Illinois, facility — a move that will retain 800 jobs in the region. “Wieland is committed to a sustainable future and is taking significant steps to modernize its East Alton facility,” says Greg Keown, president of Wieland Rolled Products North America. “This effort solidifies our ability to supply the …
HOUSTON — Chemical wholesaler Catalyst Trading Co. has signed a 49,911-square-foot industrial lease near downtown Houston. According to LoopNet Inc., the space at 3401 Navigation Blvd. features 32-foot clear heights, 38 exterior dock doors, two drive-in bays and 20 car parking spaces. Jeremy Lumbreras and Boone Smith with Stream Realty Partners represented the landlord, Stonelake Capital Partners, in the lease negotiations. The tenant representative was not disclosed.
BIRMINGHAM, ALA. — TruCore Investments has purchased a 96,000-square-foot, Class B industrial facility located at 3230 Messer Airport Highway in Birmingham. The property had roughly 60,000 square feet of availability at the time of sale. The seller and sales price were not disclosed. Built in 1979, the concrete structure is situated on 4.4 acres and features 14 drive-in doors, 30 dock doors and 48 parking spaces. TruCore plans to improve the facility functionally and cosmetically, including an exterior refresh, as well as boost occupancy. The property represents TruCore’s first acquisition in Birmingham.