SOUTH WINDSOR, CONN. — JLL has arranged a $9.5 million loan for the refinancing of a 115,800-square-foot industrial building in South Windsor, located northeast of Hartford. The building at 555 Nutmeg Road was constructed on 12.1 acres in 1980 and was fully leased at the time of sale to wholesale tire distributor US Autoforce. Max Custer, Ryan Carroll and Michael Donohoe of JLL arranged the five-year, fixed-rate loan through an undisclosed life insurance company on behalf of the borrower, Snowball Developments.
MORGANVILLE, N.J. — CBRE has brokered the $6.9 million sale of an industrial outdoor storage (IOS) facility in the Central New Jersey community of Morganville. The 21,000-square-foot facility at 173 Amboy Road was originally constructed in 1988, and the property includes 4.8 acres of outdoor storage space. Liam McGregor, Mark Silverman, Brian Fiumara and Elli Klapper of CBRE represented the buyer, private industrial investment firm Genesis, in the off-market transaction. The seller was not disclosed.
RICHMOND, VA. — JLL has negotiated the sale of a six-building industrial portfolio spanning more than 1 million square feet near Richmond International Airport. The portfolio comprises Class A and B buildings that were constructed between 1971 and 1999 across three sites. The assets are situated on the eastern side of Richmond’s metropolitan area near the intersection of I-295 and I-64. Bill Prutting, Pete Pittroff, Craig Childs, Chris Dale, Dave Andrews and Ginna Wallace of JLL represented the undisclosed seller in the transaction. The sales price was also not disclosed. The buyer, Silverman Group, has tapped SL Industrial Partners to manage the portfolio.
GLENDALE, ARIZ. — IndiCap and VAC Development have broken ground for Bethany Bay, a Class A shallow-bay industrial project in Glendale. Located at 16380 and 16840 W. Bethany Home Road, the $31 million development will feature 136,800 square feet spread across two buildings. Completion is slated for August 2026. The 98,060-square-foot Building 1 will offer a clear height of 28 feet and 5,000 amps of power, and the 39,226-square-foto Building 2 will feature a clear height of 24 feet and 2,500 amps of power. Suite sizes will range from 4,500 square feet to 18,000 square feet, with each building accommodating four to six users. Building 2 will be delivered with fully built-out speculative office suites ranging from 800 square feet to 1,100 square feet — each of which will be connected to warehouse space and equipped with HVAC, lighting and restrooms for near-immediate occupancy. MIke Schwab of Land Advisors handled the project on behalf of IndiCap. The project team includes Berkeley Partners as senior lender, Olive Point Capital as preferred equity, Newmark as lender placement, Colliers as leasing broker, Commonwealth Land Title Insurance Co. as title company, Ware Malcomb as architect and civil engineer and FCL Builders as general contractor.
MAGNA, UTAH — The LeClaire-Schlosser Group of Marcus & Millchap has directed the sale of Pink Door Storage & RV, a 63,630-square-foot storage facility in Magna. A local development partnership sold the asset to Zoke Group for an undisclosed price. Jordan Farrer and Adam Schlosser of Marcus & Millichap represented the seller. Constructed in 2002, Pink Door Storage & RV features 445 self-storage units spread across seven single-story buildings with 220 drive-up units. Property amenities include a gate entry with a digital keypad, an onsite management office in front of the entrance gate, 24/7 surveillance, asphalt driveways, units with roll-up doors and covered RV and boat parking.
HOUSTON — Panelmatic Electrical Solutions has signed a 10-year, 728,080-square-foot industrial lease in North Houston. The manufacturer of switchgear systems will occupy the entirety of Westpoint 45, a newly developed, cross-dock facility that sits on a 42-acre site near the intersection of I-45 and Beltway 8. Building features include 40-foot clear heights, speculative office space and 180 trailer parking stalls. Richard Quarles, Mark Nicholas, Joseph Berwick and Eliza Klein of JLL represented the landlord, a partnership between locally based developer Vigavi and Principal Asset Management, in the lease negotiations. Wes Williams of Colliers represented Panelmatic.
FORT WORTH, TEXAS — Locally based brokerage firm LanCarte Commercial has negotiated a 31,780-square-foot industrial lease in southwest Fort Worth. The building at 14485 U.S. Highway 377 includes 2,415 square feet of office space. Sarah LanCarte and Finn Wilson of LanCarte Commercial represented the undisclosed landlord in the lease negotiations. Jon McDaniel of NAI Robert Lynn represented the tenant, the Tarrant County Emergency Services District.
ROSEDALE, MD. — Knott Realty Group has completed two industrial buildings located at 9107 and 9115 Yellow Brick Road within Rossville Industrial Park in Baltimore County. 9107 Yellow Brick Road totals 150,492 square feet and offers 46 dock doors, two drive-in doors and 226 parking spaces, while 9115 Yellow Brick Road comprises 125,791 square feet with 38 dock doors, two drive-in doors and 160 parking spaces. Rossville Industrial Park now spans approximately 1 million square feet across nine buildings. The new facilities feature tilt-up construction, 32-foot height ceilings, ESFR sprinklers, high-bay LED lighting and a seven-inch reinforced concrete slab, as well as energy-efficient roofs and HVAC systems. An outside storage lot is also available to support up to 29 trailer drops. Additionally, Knott Realty Group will incorporate solar panels on the rooftops of both buildings and apply for LEED certification. The project team included Baltimore Land Design Group, Geo-Technology Associates, Glen Arm Building Co., Lorax Partnerships, Morris & Ritchie Associates, Venable and Ware Malcomb, with support from Providence Engineering and Paragon Engineering.
FRASER, MICH. — Inland Real Estate Investment Corp. and Devon Self Storage, a member of The Inland Real Estate Group of Cos. Inc., have completed an 85,330-square-foot self-storage redevelopment project in Fraser, a northern suburb of Detroit. The property at 31475 Utica Road was formerly a light industrial facility built in 1975. The asset now consists of a two-story, climate-controlled building, along with exterior non-climate-controlled buildings, offering a total of approximately 750 storage units, a 24-hour security system and a drive-in area providing access to the main interior storage area.
PASSAIC, N.J. — A joint venture between Los Angeles-based PCCP LLC and Atlanta-based Stonemont Financial Group has received $65.4 million in bridge financing for a 295,506-square-foot industrial property in Northern New Jersey. Built on a 17.7-acre site at 122 Eighth St. in 2024, Passaic Logistics Center features a clear height of 40 feet, 40 dock-high doors, 130-foot truck court depths and parking for 55 trailers and 167 cars. In addition, the building can accommodate a single or multiple users. JLL arranged the financing through TPG Real Estate Credit on behalf of the joint venture. Specific loan terms were not disclosed.