Industrial

LBA Logistics Sells University Logistics Center in Tempe, Arizona for $27.5M

by Amy Works July 31, 2024

TEMPE, ARIZ. — LBA Logistics has completed the disposition of University Logistics Center, an industrial and logistics building on nine acres in Tempe. Setna iO and Setnix, an owner/occupier, acquired the asset for $27.5 million. Located at 1345 S. 52nd St., the 112,300-square-foot facility features 3,500 square feet of office space, 32-foot clear heights, three dock-high doors, 10 drive-in load doors, three truck wells, a concrete truck court, 18 new windows, storefront entry for will call, new LED lighting for the interior space and parking areas, secured parking and trailer storage and multiple points of ingress/egress. Additionally, the property offers 494 parking spaces. The buyer plans to use the facility to expand its operations, which focuses on aftermarket aircraft parts supply and high-tech airplane parts machining and repair. Mike Haenel, Andy Markham and Phil Haenel of Cushman & Wakefield represented the seller, while Todd Hamilton of Citywide Commercial Real Estate, along with Denise Stain Chaimovitz of Entre Commercial Realty, represented the buyer in the deal.

July 31, 2024

Development Industrial Loans Midwest Missouri

Bayview PACE Provides $20.5M Loan for Construction of $72M Headquarters for Master’s Transportation in Kansas City

by Kristin Harlow July 31, 2024

KANSAS CITY, MO. — Bayview PACE has provided a $20.5 million C-PACE loan for the construction of a $72 million headquarters facility for Master’s Transportation in Kansas City. Bayview says the C-PACE financing provided a complementary role in the capital stack of the development, which is now under construction and slated to open in 2025. Other financing includes a $31 million construction loan and $20 million in sponsor equity. Master’s is a bus and transportation fleet operator serving 26 states. The 324,000-square-foot facility will consolidate eight other area locations. C-PACE financing offers favorable and cost-effective terms for qualified improvements in energy, lighting, water systems, building envelope and other resiliency components. It can be applied to new construction or renovations. In this transaction, PACE financing was used in place of a participant bank. Kansas City-based Miller Stauch Construction Co. is the general contractor, and Eskie & Associates is the owner’s representative. Kansas City-based Finkle + Williams Architecture is the project architect.

July 31, 2024

Acquisitions Indiana Industrial Midwest

JLL Brokers Sale of 639,829 SF Industrial Portfolio in Portage, Indiana

by Kristin Harlow July 31, 2024

PORTAGE, IND. — JLL Capital Markets has brokered the sale of Northwest Indiana Logistics Portfolio, a two-building industrial portfolio totaling 639,829 square feet in Portage. The sales price was undisclosed. The distribution centers were built in the early 2000s and are 97 percent leased to eight tenants. Building 1, located at 6525 Daniel Burnham Drive, totals 122,829 square feet and features a clear height of 25 feet, 13 dock-high doors and six drive-in doors. Building 2, situated at 6750 Daniel Burnham Drive, totals 517,000 square feet and features a clear height of 30 feet, 60 dock-high doors and four drive-in doors. The buildings are part of AmeriPlex at the Port, a 385-acre industrial park. John Huguenard, Ed Halaburt and Kurt Sarbaugh of JLL represented the confidential seller in the sale to Sperry Equities. Brian Walsh of JLL arranged a five-year, fixed-rate acquisition loan through New York Life Real Estate Investors.

July 31, 2024

Acquisitions Industrial Self-Storage Texas

LandPark Advisors Buys 350-Unit Self-Storage Facility in Tomball, Texas

by Taylor Williams July 30, 2024

TOMBALL, TEXAS — Locally based investment and management firm LandPark Advisors has purchased Sentinel Self Storage, a 350-unit facility located on a 4.7-acre site in the northwestern Houston suburb of Tomball. The facility, which opened in April, spans 80,195 net rentable square feet and features an automated security gate with key code access, roll-up doors, a manager’s office and video surveillance throughout the property. The seller and sales price were not disclosed.

July 30, 2024

Development Industrial Texas

Mercer Co. Completes 101,268 SF Industrial Project in Oklahoma City

by Taylor Williams July 30, 2024

OKLAHOMA CITY — Dallas-based Mercer Co. has completed a 101,268-square-foot industrial project in Oklahoma City. The project, which consists of nine buildings on an eight-acre site, represents Phase I of a larger development known as OrderMatic Business Park. The buildings can accommodate users with requirements from 3,321 to 88,862 square feet. Mercer Co. is also leasing the project and recently opened an office in Oklahoma City to facilitate that objective.

July 30, 2024

Industrial Leasing Activity Midwest Missouri

Dive Bomb Industries Signs 128,000 SF Industrial Lease at Hazelwood Business Park in Missouri

by Kristin Harlow July 30, 2024

HAZELWOOD, MO. — Dive Bomb Industries has signed a 128,000-square-foot industrial lease at Hazelwood Business Park in Hazelwood, a northern suburb of St. Louis. The outdoor sporting goods company is relocating its headquarters from Westport. Dan Lesinski and Billy Spence of Colliers represented the landlord, Industrial Commercial Properties (ICP). Jake Corrigan of Sansone Group represented the tenant. Hazelwood Business Park, redeveloped by ICP, spans 147 acres and includes a mix of light industrial, tech, office and retail spaces.

July 30, 2024

California Development Industrial Western

Sudberry Properties Completes Second Phase of Otay River Business Park in Chula Vista, California

by Amy Works July 30, 2024

CHULA VISTA, CALIF. — Sudberry Properties has completed Phase II at the 50-acre Otay River Business Park in Chula Vista, just south of San Diego. The second phase consists of two manufacturing and warehouse buildings totaling 205,435 square feet. The 97,230-square-foot building is located at 2995 Faivre St., and the 108,205-square-foot building is located at 2855 Faivre St. The buildings offer 28- to 32-foot clear heights, dock-high and grade-level doors, 4,000 amps of 277/480-volt power and flexible spaces ranging from approximately 25,000 square feet to more than 108,000 square feet. PGW Auto Glass, a supplier of auto glass and shop accessories with more than 120 distribution branches in the United States and Canada, has leased approximately 23,500 square feet of warehouse space at 1995 Faivre St. The 137,500-square-foot Phase One is fully leased to variety of tenants, including Starbucks Coffee, SuperStar Car Wash, Jamba Juice, Menuderia Guadalajara, Knockaround Sunglasses, Colonna’s Shipyard Inc., Sunbelt Rentals, Luv Sola wood flowers, Shore Total Office and Boochcraft hard kombucha. The final phase of Otay River Business Park will include 108,700 square feet of manufacturing/warehouse space. Michael Mossmer of Voit Real Estate Services is handling leasing for the buildings. The project team includes San Diego-based TFW …

July 30, 2024

Development Industrial North Carolina Southeast

Merritt Properties Delivers 213,800 SF Industrial Park in Garner, North Carolina

by John Nelson July 30, 2024

GARNER, N.C. — Merritt Properties has delivered 42 Crossing, a three-building industrial park in the Raleigh suburb of Garner that spans 213,800 square feet. Situated on 22 acres near I-40 and I-540, the park’s facilities feature 18- to 24-foot clear heights, rear-loaded docks and drive-in capabilities. 42 Crossing also offers incubator warehouses that are ideal for companies seeking 1,800 to 3,600 square feet of small-bay industrial space. These move-in ready facilities include two offices, a bathroom, a climate-controlled warehouse and at-grade drive-in access. Committed tenants at 42 Crossing include Quartz America (12,629 square feet); C. E Gandee (1,800 square feet); The Spa Haus (1,800 square feet); Choufani & Bailey Roofing (1,800 square feet); Fibrezone USA (1,800 square feet); Dock, Door, & Grille Solutions (1,800 square feet); JMO Import Automotive (1,800 square feet); Konecranes (1,800 square feet); and Pickles and Play (18,350 square feet), marking the company’s third indoor pickleball facility at a Merritt property.

July 30, 2024

Development Industrial Southeast Tennessee

USGBC Certifies REI Co-Op’s 400,000 SF Distribution Center Near Nashville as LEED v4 Platinum

by John Nelson July 30, 2024

LEBANON, TENN. — The U.S. Green Building Council (USGBC) has certified REI Co-Op’s 400,000-square-foot distribution center in Lebanon as LEED v4 Platinum. Situated roughly 30 miles east of Nashville, the property is the largest LEED Platinum-certified industrial property in the Southeastern United States and one of 10 warehouses in the country to achieve LEED v4 Platinum certification, as well as the only facility in the state with that rating. Al. Neyer designed and developed the distribution center in 2023. Sustainable features of the REI distribution center include 100 percent renewable electricity via an onsite solar array, as well as a nearby solar array in east Tennessee that REI helps support; the use of reclaimed wood and metal sourced from the original barn onsite; a polished concrete stream inspired by the nearby Cumberland River; numerous skylights; and water systems to repurpose rain water. The Lebanon facility serves REI stores and customer online order fulfillment in the Midwest and Southeast, and complements REI’s three existing distribution centers in Bedford, Pa.; Goodyear, Ariz.; and Sumner, Wash. REI employs roughly 275 people at the Lebanon property, which has received industry awards from local chapters of national organizations including NAIOP and ULI.

July 30, 2024

Development Industrial Loans New Jersey Northeast

Lincoln Equities Group Receives $60.8M Construction Loan for Central New Jersey Industrial Project

by Taylor Williams July 29, 2024

HAMILTON, N.J. — Lincoln Equities Group has received a $60.8 million construction loan for a 420,024-square-foot industrial project that will be located in the Central New Jersey community of Hamilton. The site at 861 Sloan Ave. spans 48 acres and offers proximity to both interstates 95 and 295. Building features will include a clear height of 40 feet, 84 loading docks, two drive-in doors and parking for 556 cars and 81 trailers. John Alascio, Chuck Kohaut, T.J. Sullivan and Jason Blankfein of Cushman & Wakefield arranged the loan through Los Angeles-based PCCP on behalf of Lincoln Equities, which is developing the property in partnership with PGIM. Cushman & Wakefield also previously arranged the sale of the site.

July 29, 2024

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