CLEBURNE, TEXAS — Marcus & Millichap has brokered the sale of U-Lock-It Mini Storage, an 224-unit self-storage facility in Cleburne, a southern suburb of Fort Worth. The facility totals 27,120 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller and procured the buyer, both of which were locally based entities that requested anonymity, in the transaction.
ONTARIO, CALIF. — San Francisco-based Stockbridge has acquired a core industrial portfolio in the Inland Empire from Principal Asset Management for $142.2 million. Located at 3351 E. Philadelphia St. and 4450 E. Lowell St. in Ontario, the two-building portfolio offers 540,478 square feet of industrial space. At the time of sale, the properties were both 100 percent occupied. Jeff Chiate, Jeffrey Cole, Rick Ellison and Matt Leupold of Cushman & Wakefield’s National Industrial Advisory Group – West represented the seller in the transaction. Phil Lombardo, Chuck Belden and Andrew Starnes of Cushman & Wakefield provided leasing advisory. Rob Rubano, Brian Share, Joseph Lieske, Max Schafer and Becca Tse of Cushman & Wakefield Equity, Debt & Structured Finance collaborated in sourcing acquisition financing for the transaction.
SAN DIEGO — A joint venture between Birtcher Anderson & Davis and Nuveen has purchased 7949 Stromesa Court, an industrial building in San Diego’s Miramar submarket, from an undisclosed seller for $26.5 million. Situated on 5.3 acres, the single-story, 107,564-square-foot building was 95 percent leased to 12 tenants. The property features grade- and dock-level loading, 22-foot warehouse clear heights and the ability to accommodate 53-foot truck trailers. Evan McDonald and Kurtis Blanchard of Colliers represented the buyer, while Dean Asaro of Kidder Mathews represented the seller in the transaction.
FRESNO, CALIF. — JLL Capital Markets has arranged the sale of Cherry Ave Self Storage, a self-storage facility on 5.4 acres at 1844 S. Cherry Ave. in Fresno. A public REIT sold the asset to PSC Fresno LLC, an affiliate of Pratt Street Capital LLC, for $8.2 million. Cherry Ave Self Storage consists of a three-story building and 12 one-story buildings offering a total of 1,085 units. The facility features drive-up units, freight elevators and boat and RV parking. Additionally, the property offers a 262-square-foot, newly renovated office. Brian Somoza of JLL Capital Markets’ investment sales and advisory team represented the seller in the deal.
LODI, N.J. — CBRE has negotiated the $29.2 million sale of a 169,205-square-foot industrial showroom in the Northern New Jersey community of Lodi. The building was originally constructed in 1968 and renovated in 2020. Brian Fiumara, Elli Klapper, Kevin Dudley, Jeremy Wernick, Mark Silverman, Chad Hillyer, Nicholas Klacik and Kate Granahan of CBRE represented the buyer, AAA Wholesale, in the transaction. The seller was not disclosed.
HILLSBOROUGH, N.J. — Bluestar Direct has signed a 13,500-square-foot industrial lease expansion in the Northern New Jersey community of Hillsborough. The wholesaler of various food products is expanding from a 5,000-square-foot space at the 596,315-square-foot Hillsborough Business Center, where it has been a tenant since 2020. Victor Kelly represented the landlord, Larken Associates, in the lease negotiations on an internal basis.
OKLAHOMA CITY — TruCore Investments, a Tulsa-based firm specializing in Class B industrial deals, has acquired a 142,115-square-foot property in Oklahoma City in a sale-leaseback with an undisclosed tenant. The building sits on 8.5 acres at 13131 Broadway Extension. According to LoopNet Inc., the property was originally built in 1979 and features 22-foot clear heights and 12 dock-high loading doors. Rusty Smith and Allan Meadors of Cushman & Wakefield brokered the deal. TruCore plans to implement a value-add program.
PEABODY, MASS. — Colliers has arranged a $52.7 million loan for the refinancing of a 370,000-square-foot industrial property in Peabody, a northern suburb of Boston. The building is located within the Centennial Park development and houses the headquarters of an undisclosed e-commerce retailer. Barings provided the financing to a partnership between two Boston-based firms, Oliver Street Capital and Bain Capital Real Estate. The partnership plans to expand the property by 82,790 square feet, and the loan includes construction proceeds for that endeavor. John Broderick and Patrick Boyle led the debt placement efforts for Colliers.
LYONS, GA. — Oxford Industries Inc., an Atlanta-based clothing and apparel manufacturer whose brands include Tommy Bahama and Lilly Pulitzer, plans to develop a new large-scale distribution center in Lyons, a South Georgia city in Toombs County. The company will invest $130 million in the first phase of the project, which will sit on 50 acres and support 60 new jobs at full completion. Oxford Industries is an international apparel design, sourcing and marketing company that features a portfolio of lifestyle brands, over 300 company-owned retail stores and an e-commerce business. The company also has a complementary wholesale business through department and specialty stores. The manufacturer has had a physical presence in Toombs County since the 1940s. With the new Lyons facility, Oxford Industries expects to boost output from 7 million units annually to 20 million units. The construction timeline was not disclosed.
CONOVER, N.C. — JLL has arranged the sale of BSN Medical Distribution Facility, a 149,987-square-foot industrial property located at 1011 Keisler Road in Conover, about 44 miles northwest of Charlotte via N.C. Highway 16. Pete Pittroff, Dave Andrews, Josh McArdle, Michael Scarnato and Allan Parrott of JLL represented the seller, Founders Properties LLC, and procured the buyer, Diamond Properties. The sales price was not disclosed. The tenant, BSN Medical Inc., has more than five years of lease term remaining at the facility. The property was renovated in 2009 and features rear- and side-load configurations, 27 dock-high doors and 82 parking spaces spanning 17.2 acres, which provides potential expansion capacity at the site.