DEVENS, MASS. — CBRE/New England has arranged the sale of an industrial facility located at 36 Saratoga Blvd. in Devens. Cabot Properties acquired the 162,000-square-foot facility from J.G. Petrucci Co. for $10.35 million. Developed in 1999, the property was fully occupied at the time of acquisition. Bob Gibson, Dave Pergola and Brian Doherty of CBRE/NE represented the seller and procured the buyer.
TEMPE, ARIZ. — BKM Capital Partners has purchased Tempe Commerce Park, a 535,976-square-foot industrial asset in Tempe, for $58 million. The five-building park is located at 7410-7419 S. Roosevelt. Tempe Commerce Park was purchased at 30 percent below replacement costs. It is currently fully occupied. The asset was acquired through BKM Industrial Value Fund I L.P. JLL’s Mark Detmer and Bo Miles represented the seller, Invesco, which sold the asset on behalf of its client, Ohio Police and Fire.
PLANO, TEXAS — Ascent has opened a 43,330-square-foot data center known as Ascent DAL1 in Plano. The property is designed to withstand tornadoes with winds up to 360 miles per hour. DAL1 spans 4.3 acres and includes 2.7 megawatts of power, with the ability to expand to up to 7.2 megawatts. The building has three paths for fiber access.
NEW YORK CITY — TerraCRG has brokered the sale of a vacant commercial lot located in Brooklyn’s Gowanus neighborhood. Located at 84 14th St., the site sold for $2.6 million, or $163 per buildable square foot. Zoned M2-1, the vacant 7,996-square-foot lot offers 15,992 buildable square feet. The site is surrounded by a mix of residential and commercial buildings. Dan Marks and Mike Hernandez of TerraCRG brokered the transaction. The names of the seller and buyer were not released.
LIVONIA, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 155,433-square-foot industrial facility for an undisclosed price. EWI sold the building, which is located at 13211 Merriman Road in Livonia, approximately 20 miles northwest of Detroit. Alta Equipment Co., a Midwest forklift and heavy construction equipment provider, purchased the property. David Friedman and Phil Konopitski of Friedman Integrated Real Estate Solutions represented both parties in the transaction.
CEDAR PARK, TEXAS — Bellomy & Co. has brokered the sale of LockTite Storage – Lakeline in Cedar Park. The Class A facility, renovated in 2013, consists of 351 climate and non-climate-controlled units spanning 56,395 square feet. Cedar Park is located 18 miles northwest of downtown Austin. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. listed the facility on behalf of the Austin-based seller. The trio also procured the buyer, Public Storage, a publically traded REIT headquartered in Glendale, Calif.
ELMSFORD, N.Y. — GHP Office Realty LLC has acquired an 81,500-square-foot flex building located at 375 Executive Blvd. within Cross Westchester Executive Park in Elmsford. The building features 75,000 square feet of warehouse space with four loading docks and two drive-in doors, and 6,500 square feet of office space. Andrew Greenspan and Jamie Schwartz of GHP led the acquisition team. The buyer plans to upgrade the property to modernize it and make it more energy efficient. The County of Westchester sold the property for an undisclosed price.
NEW YORK CITY — Avison Young has arranged the sale of a seven-story parking garage located at 19 W. 20th St. in Manhattan’s Flatiron District. Extell Development sold the property to 19-25 West 20th Street Property LLC for $32.2 million. The 52,000-square-foot property is under a long-term lease to Icon Parking. Vincent Carrega, Jon Epstein, Neil Helman and Charles Kingsley of Avison Young represented the seller.
LOS ANGELES — Goodman Birtcher has purchased a 130-acre logistics portfolio that spans two infill sites in the Los Angeles submarkets of Santa Fe Springs and El Monte. The sites were purchased for a reported $240 million. The Santa Fe Springs site contains a six-building logistics campus that totals about 1 million square feet of space over 75 acres. The facility includes 18 acres of trailer parking and ambient refrigerated and freezer facilities suitable for food users, last-mile logistics and ecommerce companies. The transaction also includes a 55-acre site in El Monte that will be developed into a 1.2 million-square-foot, Class A logistics facility. It will be constructed with a flexible and sustainable design for logistics and ecommerce customers. The redevelopment efforts will commence once the sites’ current leases expire. JLL’s Louis Tomaselli, Zach Niles and Mark Detmer executed the transaction.
LOS ANGELES — Bridge Development Partners has announced plans to build a 429,840-square-foot warehouse and office facility in the City of Industry, a submarket of Los Angeles. The facility will be located near the 60 Freeway. The Class A property is scheduled for completion on Dec. 1. A 260,000-square-foot warehouse on the site will be demolished to make way for the new facility. Bridge Development is targeting high-tech tenants. Premier Design + Build will build the facility. HSA & Associates will provide engineering services, while HPA will deliver architectural services. Stuart Milligan of Cushman & Wakefield and Tony Phu of Colliers International will act as the building’s leasing agents. JP Morgan Chase Bank provided financing.