Industrial

Glendale Manufacturing Facility Sells for $5.7M

by Nellie Day June 15, 2015

GLENDALE, ARIZ. – A 120,000-square-foot industrial manufacturing facility in Glendale has sold to AMERCO Real Estate Company for $5.7 million. AMERCO is a provider of real estate and development services for U-Haul. The facility is located at 6112 N. 56th Ave. AMFORM will occupy the building. It will allow the manufacturing division for U-Haul to triple in size from its present facility in Glendale. AMFORM plans to occupy building in about six months. David Wilson of Daum Phoenix represented both the buyer and the seller, American Park ‘n Swap, in this transaction.

June 15, 2015

Industrial Midwest Minnesota

CPA:18 – Global Buys $17M Warehouse/Distribution Facility in Minnesota

by Amy Works June 12, 2015

PLYMOUTH, MINN. — CPA:18 – Global, a non-traded REIT managed by W. P. Carey Inc., has acquired a 208,900-square-foot warehouse and distribution facility in Plymouth. A private investment group sold the property for $17 million. The facility is net leased to Core-Mark International, a subsidiary of Core-Mark Holding Company Inc., for a period of 13 years. Originally constructed in 1975, the facility has been expanded twice and features more than 23,000 square feet of cooler/freezer storage space. The seller is contributing $1 million for tenant improvements to the office space and to enhance the HVAC and lighting of the warehouse.

June 12, 2015

Industrial Texas

M&M Negotiates Sale of 90,600 SF Self-Storage Facility in Metro Dallas

by Haisten Willis June 12, 2015

PLANO, TEXAS — Marcus & Millichap has negotiated the sale of All Star Self-Storage, a 90,600-sqaure-foot self-storage facility located in Plano. Brandon Karr of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Karr also secured the buyer, a limited liability company. All Star Self-Storage is located at 800 Fulgham Road. The 185-unit property comprises seven buildings constructed in 2002 on 4.8 acres and features garage-style doors, standing seam metal roofs, steel framing, brick facades, perimeter fencing and lighting, video surveillance, an on-site manager’s office and personalized key-pad entry/exit gates.

June 12, 2015

1420 Sams Avenue Elmwood Business Park New Orleans

Industrial Louisiana Southeast

Cushman & Wakefield Arranges $15.5M Sale of 360,000 SF Distribution Center in New Orleans

by John Nelson June 12, 2015

NEW ORLEANS — Cushman & Wakefield has brokered the $15.5 million sale of a 358,060-square-foot distribution center located at 1420 Sams Ave. in Elmwood Business Park, a 33 million-square-foot industrial park in New Orleans. Built in 1984, the property was 95.6 percent leased at the time of sale. Mike Davis, Michael Lerner and Rick Brugge of Cushman & Wakefield represented the seller, Columbus Nova, in the transaction.

June 12, 2015

Industrial Texas

CBRE Capital Markets Arranges $17.7M in Financing for Metro Dallas Industrial Portfolio

by Haisten Willis June 11, 2015

GRAPEVINE, TEXAS — CBRE Capital Markets’ debt and structured finance team has arranged financing for the DFW Corporate Drive portfolio in Grapevine. CBRE worked on behalf of JLL Income Property Trust to obtain a $17.7 million non-recourse loan. The 10-year, interest-only loan has a fixed interest rate of 3.23 percent and was secured through one of CBRE’s correspondent life companies. The DFW Corporate Drive Portfolio consists of two industrial warehouses totaling 643,429 square feet. The buildings are 100 percent leased to tenants including Kay Chemical, Fleetpride and Harland Clarke. The portfolio is located in the DFW Airport submarket. Greg Greene, Scott Lewis and Matt Ballard with CBRE’s Dallas office originated and secured the financing on behalf of the borrower.

June 11, 2015

Industrial Texas

Avison Young Arranges Land Sale in Metro Houston

by Haisten Willis June 11, 2015

BAYTOWN, TEXAS — Lee Jones and Tommy LeBlanc of Avison Young represented the Hunt Family in the sale of 44 acres near the Grand Parkway to Guy Pfitzner, who was represented by Brenda Wagner of Mary Dunn Real Estate. The property is located a half mile east of Highway 99 on FM 565 in Baytown.

June 11, 2015

Industrial Maryland Southeast

CBRE Arranges 122,044 SF Industrial Lease in Metro Baltimore

by John Nelson June 11, 2015

COLUMBIA, MD. — CBRE has arranged a lease on behalf of Deutsche Asset & Wealth Management for 122,044 square feet at Gateway Commerce Center in Columbia, a suburb of Baltimore. The property is situated near I-95, Baltimore/Washington International Thurgood Marshall Airport and Columbia Town Center. National Retail Systems Inc., which includes Keystone Freight Corp. and National Retail Transportation Inc., will utilize the property at 8700 Robert Fulton Drive to provide logistics support for T.J. Maxx. Built in 1971 and remodeled in 1997, Gateway Commerce Center spans more than 48.7 acres with a total of 700,945 square feet and features dock and drive-in loading, an ESFR sprinkler system and 28- to 50-foot clear heights. John Wilhide and Ed Harris of CBRE represented the landlord in the lease transaction.

June 11, 2015

Industrial Texas

M&M Arranges Sale of 38,060 SF Self Storage Facility in Metro Houston

by Haisten Willis June 10, 2015

PINEHURST, TEXAS — Marcus & Millichap has arranged the sale of Ray Childress Storage located in Pinehurst. The asset has 21,600 net rentable square feet and 16,400 feet of covered and uncovered parking. Dave Knobler of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a private investor. Knobler also secured the buyer, a limited liability company. Ray Childress Storage is located at 35615 FM 149 in Pinehurst.

June 10, 2015

Industrial Loans New Jersey Northeast

Cronheim Mortgage Arranges Two Loans Totaling $13.5M in New Jersey

by Amy Works June 10, 2015

RIDGEFIELD AND NORTH BERGEN, N.J. — Cronheim Mortgage has arranged two loans totaling $13.5 million for two warehouse and distribution facilities in New Jersey. In the first transaction, Cronheim secured $10 million in financing for a 325,340-square-foot warehouse in Ridgefield. The 10-year loan features four years of interest-only payments and a 32-year amortization schedule. The property features 20-foot clear height ceilings, 24,000 square feet of office space, truck loading space and vehicle parking. Additionally, Cronheim arranged a $3.5 million loan for a 235,000-square-foot industrial facility in North Bergen. The 10-year loan features a 30-year amortization schedule. Leased by a wine and spirits company, the facility features 20-foot ceiling heights, ample truck and car parking, and 6,500 square feet of office space. Dev Morris and Andrew Stewart of Cronheim Mortgage arranged the financing in both deals.

June 10, 2015

Georgia Industrial Southeast

Colliers Brokers Sales of Two Industrial Assets in Metro Atlanta Totaling $42.1M

by John Nelson June 10, 2015

ATLANTA — Colliers International has brokered the sale of two industrial assets in metro Atlanta totaling 1.2 million square feet for a combined $42.1 million. Dennis Mitchell and Matt Wirth of Colliers International’s Atlanta office represented the seller, DCT Industrial, in both transactions. The properties included Eagles Landing Trade Center III, a 505,000-square-foot distribution building located at 301 Eagles Landing Parkway in Stockbridge that sold for $21 million, and a five-building industrial portfolio totaling 712,763 square feet in Atlanta’s I-20 West/Fulton industrial submarket that sold for $21.1 million.

June 10, 2015

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