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Industrial

1925-1936-E-Vernon-Ave-Vernon-CA
AcquisitionsCaliforniaIndustrialWestern

CBRE Brokers $61.5M Sale of Industrial Redevelopment Site in Vernon, California

by Amy Works

VERNON, CALIF. — CBRE has arranged the sale of a 7-acre industrial redevelopment site located at 1925 and 1936 E. Vernon Ave. in Vernon. A confidential buyer acquired the asset from The Alavern Co. for $61.5 million. The property currently houses a five-story, 368,500-square-foot building. Barbara Perrier, Eric Cox, Jeff Stephens, Jack Mergenthaler and John Hillman of CBRE represented the seller, while Jack Cline, Evan Jurgensen and Andy Gage of Lee & Associates represented the buyer in transaction.

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Strongbox-Lamb-Industrial-Center-North-Las-Vegas-NV
AcquisitionsIndustrialNevadaWestern

NAI Excel Arranges $16.5M Sale of Strongbox Lamb Industrial Center in North Las Vegas

by Amy Works

NORTH LAS VEGAS, NEV. — NAI Excel has directed the sale of Strongbox Lamb Industrial Center in North Las Vegas. Strongbox Development sold the asset to a national cabinetry manufacturer for $16.5 million. The undisclosed buyer plans to occupy the 89,284-square-foot, Class A warehouse as its primary manufacturing and distribution hub on the West Coast. Situated on 4.5 acres, the property was completed in August 2024. Bryan Houser of NAI Excel represented the seller, while Sean Zaher of CBRE represented the buyer in the transaction.

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20-S-69th-Ave-Phoenix-AZ
AcquisitionsArizonaIndustrialWestern

Rectangle Investment Management Buys 39,588 SF Industrial Building in Phoenix

by Amy Works

PHOENIX — Denver-based Rectangle Investment Management, the investment management affiliate of Comunal Properties, has acquired an industrial building located at 20 S. 69th Ave. in Phoenix. Terms of the transaction were not released. Action Gypsum Supply, a key regional supplier of building materials, fully occupies the 39,588-square-foot property. The building features 28-foot clear heights, a secure truck court, dock-high and drive-in loading doors and a 1.29/1,000 parking ratio. Phil Haenel, Foster Bundy and Katie Repine of Cushman & Wakefield represented the undisclosed seller in the deal.

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AcquisitionsIndustrialNew JerseyNortheast

CBRE Negotiates Sale of 8,000 SF Industrial Outdoor Storage Facility in Sayreville, New Jersey

by Taylor Williams

SAYREVILLE, N.J. — CBRE has negotiated the sale of an 8,000-square-foot industrial outdoor storage facility in Sayreville, about 35 miles south of Manhattan. The site spans 1.3 acres and sold for $4 million. Mark Silverman, Elli Klapper, Liam McGregor and Jeremy Wernick of CBRE represented the buyer, Dallas-based Dalfen Industrial, in the off-market transaction. The seller was Florida-based Highpoint Enterprises.

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AcquisitionsIndustrialNortheastPennsylvania

Partnership Acquires 200,359 SF Industrial Portfolio in West Norriton, Pennsylvania

by Taylor Williams

WEST NORRITON, PA. — A partnership between Endurance Real Estate Group and Greystar-Thackeray has acquired a six-building, 200,359-square-foot industrial portfolio in West Norriton, a northwestern suburb of Philadelphia. The properties, which were fully leased to 15 tenants at the time of sale, feature clear heights of 18 to 20 feet and a total of 530 parking spaces and 46 loading positions. Gerry Blinebury, Jonas Skovdal and Brendan McGeary of Cushman & Wakefield represented the undisclosed seller in the transaction. John Alascio, Aaron Graves and T.J. Sullivan, also with Cushman & Wakefield, arranged an undisclosed amount of acquisition financing for the deal.

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AcquisitionsIndustrialMidwestOhio

Easterly Government Properties Acquires 99,246 SF Facility Near Wright-Patterson Air Force Base in Ohio

by Kristin Harlow

BEAVERCREEK, OHIO — Easterly Government Properties Inc. (NYSE: DEA) has acquired a 99,246-square-foot facility fully leased to Northrop Grumman Systems Corp. in Beavercreek, a suburb of Dayton. The purchase price was undisclosed. Northrop Grumman, a multinational aerospace and defense company, has occupied the build-to-suit facility since 2012. The property sits adjacent to Gate 22B at the Wright-Patterson Air Force Base, the main access point for the Air Force Research Laboratory’s headquarters and the Air Force Institute of Technology. With this acquisition, Easterly owns 95 properties totaling 9.3 million square feet. The Washington, D.C.-based firm focuses on the acquisition, development and management of Class A commercial properties that are leased to the U.S. Government.

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Portside-Logistics-Center-Houston
IndustrialLeasing ActivityTexas

Stream Realty Partners Negotiates 432,316 SF Industrial Lease Near Port Houston

by Taylor Williams

HOUSTON — Stream Realty Partners has negotiated a 432,316-square-foot industrial lease near Port Houston. The tenant, Gulf Coast Crating, is taking space at Portside Logistics Center, a two-building, 1 million-square-foot speculative development on Houston’s southeast side. Jeremy Lumbreras and Tyler Maner of Stream, which owns the property in a joint venture with Principal Asset Management, represented ownership in the lease negotiations on an internal basis. Patrick McKiernan and James Mashni of First Houston Properties Inc. represented the tenant. The deal brings Building 1 at Portside Logistics Center to full occupancy.

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ExtraSpace-Storage-Egg-Harbor-New-Jersey
DevelopmentIndustrialNew JerseyNortheastSelf-Storage

DXD Capital Completes 602-Unit Self-Storage Facility in Egg Harbor, New Jersey

by Taylor Williams

EGG HARBOR, N.J. — Developer DXD Capital has completed a 602-unit self-storage facility in Egg Harbor, located along the Jersey Shore. The facility features 76,700 net rentable square feet of both climate- and non-climate-controlled space with both multi-story and drive-up accessible unit options. Extra Space Storage will operate the facility. Storage Construction served as the general contractor for the project, construction of which was financed by Century Bank. DXD Capital first acquired the site at 6679 Black Horse Pike in November 2022.

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DevelopmentIndustrialSoutheastVirginia

Rockefeller Group, Matan Cos. Break Ground on 5 MSF Industrial Development in Suffolk, Virginia

by John Nelson

SUFFOLK, VA. — Rockefeller Group and Matan Cos. have broken ground on the first phase of Port 460 Logistics Center, an industrial development that will comprise 5 million square feet in Suffolk, approximately 20 miles southwest of Norfolk with direct access to the Port of Virginia. The co-developers are completing the project in a joint venture with Mitsubishi Estate New York, Chuo Nittochi and Taisei USA LLC. The first phase will comprise 2.4 million square feet of industrial space across five buildings, with the first two buildings scheduled for completion next year. A second phase will deliver 2.6 million square feet of space. Gregg Christoffersen and Kristopher Kennedy of JLL are managing leasing at Port 460.

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DevelopmentIndianaIndustrialMidwest

Meridian Design Build Completes 300,000 SF Cold Storage Build-to-Suit in Anderson, Indiana

by Kristin Harlow

ANDERSON, IND. — Meridian Design Build has completed construction of a 300,000-square-foot climate-controlled seed storage and distribution facility for Corteva Agriscience in Anderson, about 40 miles northeast of Indianapolis. Scannell Properties was the developer. Located at 4210 W. 67th St., the property is Corteva’s largest warehouse and distribution center in North America, according to Meridian. Constructed on 30 acres, the facility features 100,000 square feet of refrigerated and humidity-controlled cold storage space along with an adjacent dry storage area accessible via high-speed rollup doors. The building features 25 loading docks, two drive-in doors, a storm shelter and 4,000 square feet of office space. Curran Architecture was the architect, and American Structurepoint Inc. handled the civil engineering design.

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