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Industrial

1900-Continental-Blvd_Charlotte-N.C
AcquisitionsIndustrialNorth CarolinaSoutheast

Avison Young Arranges $97M Sale of Industrial Building in Charlotte, North Carolina

by Hayden Spiess

CHARLOTTE, N.C. — Avison Young has arranged the $97 million sale of an industrial building located at 1900 Continental Blvd. in Charlotte. The multi-tenant property totals 1.4 million square feet. LM Real Estate acquired the building from a joint venture between Somerset Properties and Waterfall Asset Management. Chris Skibinski, Chris Loyd and Erik Foster of Avison Young brokered the transaction. According to the firm, this marks the largest industrial sale within the Charlotte market this year. 

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Interchange-at-Live-Oak-San-Antonio
AcquisitionsIndustrialTexas

Black Salmon Buys 493,688 SF Spec Industrial Project in San Antonio

by Taylor Williams

SAN ANTONIO — Miami-based investment firm Black Salmon has purchased Interchange at Live Oak, a 493,688-square-foot speculative industrial project in San Antonio. The development, which is under construction and slated for an early 2025 completion, will ultimately consist of four rear-load buildings. Black Salmon acquired the property in partnership with Chicago-based investment firm Stotan Industrial. The seller and sales price were not disclosed. 

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DevelopmentIndustrialNew JerseyNortheast

Seagis Property Group Completes 178,200 SF Industrial Project in Newark

by Taylor Williams

NEWARK, N.J. — Seagis Property Group has completed a 178,200-square-foot industrial project at 2013 McCarter Highway in Newark. Two tenants — the Newark Board of Education and skincare products provider Deciem — preleased space at the building, which features a clear height of 40 feet, 37 dock doors, an ESFR sprinkler system and parking for 127 cars and 42 trailers. Colliers serves as the landlord’s leasing agency. A CBRE team of Kate Granahan, Kevin Dudley, Chad Hillyer and Nicholas Klacik represented the tenants in both deals.

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AcquisitionsIllinoisIndustrialMidwest

Stream Realty Partners Acquires 104,008 SF Halsted Pershing Business Center in Chicago

by Kristin Harlow

CHICAGO — Stream Realty Partners has acquired Halsted Pershing Business Center in Chicago’s Stockyards submarket for an undisclosed price. The 104,008-square-foot industrial property is fully leased to three tenants. Patrick Russo, Mustafa Ali and Ben Harrison of Stream facilitated the acquisition. Ed Halaburt, Sean Devaney, John Huguenard, Kurt Sarbaugh, Will McCormack and Michael Conway of JLL represented the undisclosed seller. Stream currently manages a portfolio of 41 investments totaling 23.2 million square feet.

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DevelopmentIllinoisIndustrialMidwestSelf-Storage

Noble Self Storage Breaks Ground on 130,000 SF Redevelopment Project in Batavia, Illinois

by Kristin Harlow

BATAVIA, ILL. — Noble Self Storage has broken ground on Batavia Square, a 130,000-square-foot self-storage facility and a 44,729-square-foot electric car dealership in the Chicago suburb of Batavia. Noble Self Storage acquired the shuttered Sam’s Club building at 510 N. Randall Road in March. Linda Kost of Grid 7 properties dba Realty Metrix Commercial represented the seller, 501 N. Randall Rd Batavia LLC, and the buyer, Noble Self Storage/Bradley Financial Corp. Sam’s Club vacated the property in January 2018. The two-story, climate-controlled self-storage facility will be in the rear of the building and the car dealership will occupy the entire frontage. Completion is slated for early 2025.

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AcquisitionsArizonaIndustrialWestern

Cushman & Wakefield | PICOR Brokers Sale of 40,078 SF Industrial Space in Tucson, Arizona

by Amy Works

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of 40,078 square feet of industrial space at 2106 N. Forbes Blvd. in Tucson. North Forbes LLC sold the asset to Block “C” Properties LLC for $3.9 million. Stephen Cohen of Cushman & Wakefield | PICOR represented both parties in the transaction.

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IllinoisIndustrialLeasing ActivityMidwest

John B. Sanfilippo & Son Inks 444,600 SF Industrial Lease at Venture Park 47 in Huntley, Illinois

by Kristin Harlow

HUNTLEY, ILL. — John B. Sanfilippo & Son Inc. has inked a 444,600-square-foot industrial lease at Venture Park 47 in the Chicago suburb of Huntley. Completed in 2023, the building at 12300 Jim Dhamer Drive totals 729,823 square feet. Frank Griffin and John Sharpe of Lee & Associates represented the tenant, which has begun occupying the facility concurrently with a tenant improvement build-out. Brian Kling and Reed Adler of Colliers represented the owner, Venture One Real Estate. The transaction marks the largest industrial lease of the second quarter in Chicago’s North Kane County submarket and the fourth largest in metro Chicago, according to Lee & Associates. John B. Sanfilippo & Son is a processor, packager and marketer of a wide variety of nut and snack products.

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DevelopmentIllinoisIndustrialMidwest

Krusinski Construction Completes 66,000 SF Industrial Build-out in Woodridge, Illinois

by Kristin Harlow

WOODRIDGE, ILL. — Krusinski Construction Co. has completed the build-out of a 66,000-square-foot interior warehouse space on behalf of J&P Warehousing and Tardella Foods in the Chicago suburb of Woodridge. J&P Warehousing is a third-party logistics firm and will serve its food-and-beverage client, Tardella Foods, out of the Woodridge facility at 2250 W. 75th St. Krusinski previously completed construction of the building, a 100,400-square-foot facility, on behalf of developer Molto Properties. The interior build-out included minor office modifications, installing a demising wall to separate the J&P Warehousing space from the adjacent 34,400-square-foot tenant space. Krusinski also separated gas and electrical services to accommodate the multi-tenant property. Additional project elements consisted of installing tenant-specific electrical and HVAC equipment, including a charging station for electric pallet jacks and an air compressor. Harris Architects designed the building.

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Broadwood-Business-Centre-Mesa-AZ
AcquisitionsArizonaIndustrialWestern

BKM Capital Partners Sells 156,154 SF Broadwood Business Centre in Mesa, Arizona for $32.9M

by Amy Works

MESA, ARIZ. — Newport Beach, Calif.-based BKM Capital Partners has completed the sale of Broadwood Business Centre, a multi-tenant light industrial property in Mesa. A joint venture between Bendetii and Westport Capital Partners acquired the asset for $32.9 million. Originally built in mid-1980s and extensively renovated to be competitive in the upper tier of business parks, Broadwood Business Centre features 156,154 square feet of space spread across eight freestanding buildings at 2452 W. Birchwood Ave. and three multi-tenant buildings at 2450 W. Broadway Ave. and 2451 W. Birchwood Ave. At the time of sale, the property was fully leased. The industrial park can accommodate a broad range of user types, including showroom users, quasi retailers, manufacturers and distributors. Bob Buckley and Tracy Cartledge of Cushman & Wakefield Capital Markets, along with Will Strong, Michael Matchett and Molly Hunt of Cushman & Wakefield National Industrial Advisory Group – Mountain West, represented the seller in the deal.

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Prosper-Self-Storage-McKinney
AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 460-Unit Self-Storage Facility in McKinney, Texas

by Taylor Williams

MCKINNEY, TEXAS — Marcus & Millichap has brokered the sale of Prosper Self Storage, a 460-unit facility located north of Dallas in McKinney. The facility was originally built in 2009 and spans 72,147 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a Dallas-based investor, in the transaction. The duo also procured the buyer, a publicly traded REIT. Both parties requested anonymity. The sales price was not disclosed.

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