GILBERT, ARIZ. — Sorrento Seven has purchased an industrial building located at 2228 W. Guadalupe Road in Gilbert, approximately 20 miles southeast of Phoenix. Simon Charitable Foundation sold the asset for $10.9 million. Moog Aerospace and Defense (NYSE: MOG.A/MOG.B) fully occupies the 34,132-square-foot facility, which was built in 2019. Brian Ackerman of Colliers handled the marketing and sale of the property.
MIDDLETOWN, PA. — EQT Exeter has purchased a 1.2 million-square-foot industrial property in Middletown, located on the southeastern outskirts of Harrisburg, for $170 million. The 196-acre site at 3327 E. Harrisburg Pike offers proximity to two major American shipping carriers and Harrisburg International Airport. Building features include a clear height of 40 feet, 224 dock-high doors and parking for 702 cars and 363 trailers (expandable to 500). EQT Exeter acquired the property, which was constructed last year and fully leased at the time of sale, in conjunction with a 638,000-square-foot industrial facility in Portland, Tennessee, for a combined price of $245 million. John Plower, John Huguenard, Ryan Cottone, Zach Maguire, Paul Torosian and Jeff Lockard of JLL represented the seller, Atlanta-based Core5 Industrial Partners, in the transaction.
FAIRFIELD, N.J. — Locally based investment firm The STRO Cos. has acquired a 76,560-square-foot industrial building in the Northern New Jersey community of Fairfield. The building, which was fully leased at the time of sale, houses small-bay units that range in size from 8,000 to 13,000 square feet and feature clear heights of 22 feet. Howard Weinberg of JLL represented the undisclosed seller in the transaction.
EDGECOMBE COUNTY, N.C. — Natron Energy, a sodium-ion battery manufacturer, has announced plans to develop a $1.4 billion factory at the Kingsboro CSX Select Megasite in Edgecombe County. Situated on 2,187 acres about 70 miles east of Raleigh, the facility will create more than 1,000 jobs, according to the company. Natron will receive roughly $30 million for the project from the North Carolina Megasite Readiness Program, which is overseen by the Economic Development Partnership of North Carolina (EDPNC). Christopher Chung, CEO of the EDPNC, says that the fund allows the state to “support the recruitment of large announcements like Natron.” A construction timeline was not disclosed.
PALM COAST, FLA. — Andover Properties has opened a new self-storage facility at 5622 State Highway 100 E in Palm Coast, a city on Florida’s Atlantic Coast midway between St. Augustine and Daytona Beach. Operating under the company’s Storage King USA brand, the 105,330-square-foot property totals 656 units, 564 of which are climate-controlled. The facility also features a 5,400-square-foot covered drive-thru canopy and 38 outdoor parking spaces.
LAREDO, TEXAS — A joint venture between Maryland-based investment firm Realterm and Texas-based Alliance Industrial will develop a 236,693-square-foot transload facility in the Rio Grande Valley city of Laredo. The facility, which will be situated on a 19.7-acre site, will support various cross-border industrial operations and will be able to accommodate a single or multiple users. Building features will include 32-foot clear heights, 50 dock-high loading positions and 190 trailer parking spaces. Construction is set to begin before the end of the month and to be complete in summer 2025.
FARMERS BRANCH, TEXAS — Locally based investment firm Bleecker Partners has welcomed three new tenants to Northway Plaza, a 131,149-square-foot industrial flex complex located in the northern Dallas metro of Farmers Branch. The deals with engineering firm Lina T. Ramey & Associates (8,400 square feet), High Five Ventures LLC (3,570 square feet) and Northstar Mobile Inc. (2,972 square feet) bring the property to nearly full occupancy. Jason Finch and Justin Greenwood of Bradford Commercial Real Estate Services represented Bleecker Partners in the lease negotiations. Ethan Denton of Lee & Associates represented Lina T. Ramey & Associates.
MELVILLE, N.Y. — Colliers has brokered the $20 million sale of a 91,428-square-foot warehouse in the Long Island community of Melville. The building sits on a 10-acre site at 135 Baylis Road and features a clear height of 16 feet. Robert Steinhart, Richard Warshauer, Jason Maietta, Tommy Rosati and Brandon Lichtenstein of Colliers represented the seller, Melville Beverage Partners, in the transaction. Local appliance wholesaler Kings Prime Equities LLC purchased the building with plans to occupy the space.
LOS ANGELES — DAUM Commercial Real Estate Services has arranged the sale of an industrial building in Los Angeles. A private investor acquired the asset from an undisclosed buyer for $14.1 million. Located at 200-202 W. 140th St., the building features 60,457 square feet of industrial space. At the time of sale, the property was fully occupied by local manufacturing tenants. Anthony Bergeman, Michael Chase and Krishna Shegran of DAUM represented the buyer in the deal.
PHOENIX — Gantry has arranged a $9.9 million permanent loan to facilitate the acquisition of an industrial building located at 5120 W. Buckeye Road in Phoenix. The 127,000-square-foot, multi-tenant warehouse features 30-foot clear heights and 30 loading docks, including four drive-in doors. At the time of financing, the property was fully leased by two tenants. Tim Storey and Chad Metzger of Gantry represented the borrower, a private real estate investor, in securing the seven-year loan from one of Gantry’s correspondent life company lenders. The loan features interest-only terms, prepayment flexibility and a fixed rate.
