AMARILLO, TEXAS — Marcus & Millichap has brokered the sale of Advantage Storage, a 432-unit self-storage facility in Amarillo. Built in 2019, the facility totals 84,475 net rentable square feet across 226 climate-controlled units, 181 non-climate units, 13 enclosed parking spaces and 12 warehouse units. Gabriel Coe, Nathan Coe, Brett Hatcher and Garret Nelson of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was an out-of-state REIT that also requested anonymity.
NEW KENT COUNTY, VA. — Matan Cos. has purchased 185 acres east of Richmond for the development of New Kent Logistics Center, a 2 million-square-foot industrial park. JLL arranged the land sale on behalf of Matan Cos. Located at the intersection of I-64 and Emmaus Church Road in New Kent County, the property will span four buildings and be situated between the industrial markets of Richmond and Hampton Roads, the latter of which houses the Port of Virginia. Matan has selected Gareth Jones, Chris Avellana and Charlie Polk of JLL to lease New Kent Logistics Center. The construction timeline was not disclosed.
NORFOLK, VA. — S.L. Nusbaum Realty Co. has brokered the $34.9 million sale of an industrial facility located at 3321 Princess Anne Road in Norfolk. Industrial Realty Group acquired the 298,126-square-foot warehouse from an entity doing business as 3321 Princess Anne LLC. Stephanie Sanker of S.L. Nusbaum represented the seller in the transaction. LION Power and Beckett Corp. currently occupy a combined 104,334 square feet at the facility, with the remaining space available for lease. Constructed in 2022, the building comprises two sections. Section A features 113,450 square feet with 36-foot clear heights, multiple dock doors with expansion potential, new racking, office space and restrooms. Section B totals 80,321 square feet with dock-level loading, 21- to 24-foot clear heights and 38- by 36-foot column spacing.
TAUNTON, MASS. — Ferguson Enterprises, a distributor of plumbing and HVAC supplies, has opened a 234,282-square-foot warehouse in Taunton, a southern suburb of Boston. The facility houses a 5,743-square-foot retail store, 30,000 square feet of offices and training space for employees and a designated pick-up and will-call area. Building features include a clear height of 40 feet, three exterior loading ramps and a floor-to-ceiling racking system. Ware Malcomb designed the project, and Connolly Brothers provided construction management services.
RENO, NEV. — Mohr Capital has partnered with Standard Real Estate Investments, as equity joint venture partner, to develop a single-story, multi-tenant industrial facility in Reno. Situated on 11 acres at 9865 N. Virginia St., the 180,000-square-foot property will offer large grade-level, drive-in doors; 32-foot clear heights; options to build office spaces on the end caps and in-line; 25 dock positions outfitted with 40,000-pound levelers and seals; motion-sensing LED light fixtures; ESFR fire protection sprinkler system; and roof-mounted, gas-fired make-up air units. Completion is slated for summer 2025. The project team includes FCL Construction as general contractor, Techtonics Design Group as civil engineer and architect and Stearns Bank as construction loan lender.
PLACENTIA, CALIF. — NAI Capital Commercial has arranged the sale of 1049 S. Melrose St., Unit C, a multi-tenant manufacturing building in the Orange County city of Placentia. A trust sold the asset to an undisclosed buyer for $5 million, or $248 per square foot. Situated within a 11-building, master-planned industrial park totaling 158,580 square feet, the 20,150-square-foot building is fully leased with one month-to-month tenant occupying 4,850 square feet; two leases expiring on Dec. 31 covering 11,300 square feet; and one lease expiring July 31, 2024, covering 4,000 square feet. Marie Taylor of NAI Capital Commercial represented the seller in the deal.
CHICAGO — Ryan Cos. US Inc. has formed a joint venture with Washington Capital Management Inc. to build a 170,000-square-foot speculative industrial facility at Pullman Crossings in Chicago. Pullman Crossings is a 50-acre industrial park that is part of Pullman Park, a 180-acre mixed-use project being developed by Chicago Neighborhood Initiatives. The new facility marks Ryan’s third phase of Pullman Crossings with the fourth and final phase expected to kick off later this year. The 10-acre site is located in the historic Pullman neighborhood near I-57. The building will feature outdoor eating areas, exterior bike racks, ESFR fire protection and a clear height of 32 feet in the warehouse. Ryan is serving as developer and builder. Bankers Trust Co. is providing construction financing. Completion is slated for the first quarter of 2025. Since 2017, Ryan has developed and built three industrial facilities totaling 685,000 square feet at Pullman Crossings, including a Whole Foods Market distribution center, a SC Johnson warehouse and an Amazon last-mile distribution center.
COSTA MESA, CALIF. — Voit Real Estate Services has arranged the sale of an industrial building at 123 Monte Vista Ave. in the Orange County city of Costa Mesa. An exotic car dealer sold the asset to a private individual for $3.2 million, or $1,054 per square foot. The buyer plans to use the 3,034-square-foot building for personal use. Stefan Rogers of Voit Real Estate Services’ Irvine office represented the seller, while Matt Fryer of Lee & Associates represented the buyer in the transaction.
GEORGETOWN, TEXAS — Houston-based developer Fidelis has broken ground on Berry Creek Business Park, a three-building, 520,571-square-foot industrial project located in the northern Austin suburb of Georgetown. The development will consist of two rear-load buildings ranging in size from 126,722 to 140,685 square feet with 32-foot clear heights and one cross-dock building that will span 253,164 square feet and feature 36-foot clear heights. Project partners include GSR Andrade (architect), Gordon Highlander Construction (general contractor), Westwood Civil (engineer) and Transwestern (leasing agent). Delivery is slated for early 2025.
KATY, TEXAS — Partners Real Estate has arranged the sale of a 32,900-square-foot industrial building in the western Houston suburb of Katy. According to LoopNet Inc., the single-tenant building at 7633 Cherokee St. was originally constructed in 1980. Hunter Stockard and Wyatt Huff of Partners represented the seller, an entity doing business as BC Real Estate Investments LLC, in the transaction. Jeff Peltier and Ben Condara of Colliers represented the undisclosed buyer.