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Industrial

680-Belleville
IndustrialNew JerseyNortheast

Cushman & Wakefield Brokers Sale of 135,115 SF Industrial Property

by Amy Works

KEARNY, N.J. — Cushman & Wakefield has brokered the sale of an industrial property located at 680 Belleville Turnpike in Kearny. The 135,115-square-foot property is 100 percent net leased to Pepsi, which utilizes the site as its Northern New Jersey distribution center. Situated on 11 acres, the property features 18,000 square feet of office space, 16 loading docks, 36-foot clear ceiling heights and a 117-space trailer storage. Russo Development sold the property to TIAA-CREF for an undisclosed price. Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer and Kyle Schmidt of Cushman & Wakefield worked with Omer Mir Ahmed of Russo Development to represent the seller. The Cushman & Wakefield team also procured the buyer, who was represented in-house by Henry Dong.

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Inwood-Terrace-Weiss-Realty
IndustrialNew JerseyNortheast

Weiss Realty Brokers Sale of 12,324 SF New Jersey Warehouse Facility

by Amy Works

FORT LEE, N.J. — Weiss Realty has arranged the sale of a warehouse facility, located at 1253 Inwood Terrace in Fort Lee. Baron Verizon Fort Lee sold the 12,324-square-foot property to BCU/Madeline Housing Partners LLC (c/o Bergen County’s United Way) for $2.75 million. The one-story building features two overhead drive-thru doors, private offices, a secured 40-car paved parking area and access to Manhattan via the George Washington Bridge. Jaime Weiss of Weiss Realty represented the seller in the transaction.

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ArizonaIndustrialWestern

Marco Display Specialists Leases Warehouse Space in Phoenix

by Nellie Day

PHOENIX – Marco Display Specialists has leased 67,697 square feet of warehouse space in Phoenix. The space is located at 4141 W. Van Buren Street. It was built in 1998. The new lease brings the 243,039-square-foot industrial building to full occupancy. The U.S. grocery market merchandising manufacturer was represented by Rebecca Roberts of Green Street Commercial. The landlord, 4141 W. Van Buren LLC, was represented by Don MacWilliam and Payson MacWilliam of Colliers International.

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FloridaIndustrialSoutheast

Marcus & Millichap Brokers $17.5M Sale of Industrial Warehouse Park in South Florida

by John Nelson

AVENTURA, FLA. — Marcus & Millichap has brokered the $17.5 million sale of a 215,921-square-foot industrial warehouse park in Aventura, roughly 18 miles north of Miami. The nine-building park is located at 1600 N.E. 205th Terrace on the south side of Ives Dairy Road near I-95. Douglas Mandel and Benjamin Silver of Marcus & Millichap’s Fort Lauderdale office represented the seller, The Adler Group, and the buyer, an Aventura-based firm led by Mario Grosfeld and Jorge Linkewer.

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Fallbrook-Pines
IndustrialTexas

Trammell Crow, Clarion Partners Break Ground on Business Park in Houston

by Haisten Willis

HOUSTON — Trammell Crow Co. and joint venture partner Clarion Partners have broken ground on Fallbrook Pines Business Park in northwest Houston. The first phase of the development, scheduled for completion in the first quarter of 2015, will include four concrete, tilt-wall office/warehouse buildings totaling 709,045 square feet. The 127-acre park is located near the intersection of Beltway 8 and Highway 249 on Fallbrook Drive. Phase two will include two side-load buildings, one cross-dock building and one front-load building designed to accommodate fenced, secured truck courts. Powers Brown Architecture is the project’s architect. Rosenberger Construction is the general contractor. Faron Wiley and Joseph Smith of CBRE’s Houston office will be the leasing agents.

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IndustrialTexas

William Warren Group Acquires Four Self-Storage Properties for $27.9M

by Haisten Willis

HOUSTON AND AUSTIN, TEXAS — The William Warren Group has purchased four properties in the Houston and Austin areas for a total of $27.9 million. The facilities consist of a total of 2,257 units with 349,169 square feet. The purchases include Brazos Storage & Retail, located at 210 Gonyo Lane in Richmond, Gosling Road Self Storage located at 32103 Gosling Road in Spring, New Territory Self Storage located at 420 Sartartia Road in Sugar Land and Plum Creek Self Storage located at 5500 FM 2770 in Kyle.

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IndustrialNevadaWestern

Brookside Corporate Center in Reno Sells for $15.8M

by Nellie Day

RENO, NEV. – The leasehold interest on Brookside Corporate Center, a 261,141-square-foot industrial center in Reno, has sold to Libitzky Property Companies for $15.8 million. The Class A center sits adjacent to Reno-Tahoe International Airport. The three-building center is on a ground lease owned by the airport. HFF’s Steve Golubchik, John Simerlein and Josh DiSalle represented the seller.

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CaliforniaIndustrialLoansWestern

Western Wine Distribution Warehouse Near Napa Receives $8M Loan

by Nellie Day

NAPA, CALIF. – Western Wine Distribution warehouse, a 196,800-square-foot industrial property near Napa, has received an $8-million refinance. The property is located at 1275 Commerce Blvd. The loan contains a 10-year term and a 25-year amortization schedule. It was arranged by Robert R. Hervey of NorthMarq Capital’s Los Angeles office through the firm’s correspondent relationship with Nationwide Life Insurance Company.

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CaliforniaIndustrialWestern

Anaheim Industrial Building Sells for $2.5M

by Nellie Day

ANAHEIM, CALIF. – A 24,480-square-foot industrial building in Anaheim has sold to an unnamed buyer for $2.5 million. The building is located at 145 W. Santa Ana Street. It also contains 2,250 square feet of office space. The property is leased to EmilAmerica. Chris Migliori of DAUM’s Orange County office represented both parties in the transaction

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IndustrialKentuckySoutheast

Monmouth Buys Jim Beam Industrial Facility in Kentucky for $28M

by John Nelson

FRANKFORT, KY. — Monmouth Real Estate Investment Corp., a public equity REIT, has acquired a newly built, 599,840-square-foot industrial building at 1509 Leestown Road in Frankfort for $28 million. The build-to-suit property is fully leased to Jim Beam Brands Co. for 10 years. The Class A property is situated on approximately 92.2 acres and is expandable by an additional 200,000 square feet.

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