Sunday, April 20, 2025
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Industrial

AcquisitionsIndustrialOfficeSouth CarolinaSoutheast

CBRE Arranges $13.8M Sale of Flex Property in Columbia, South Carolina

by John Nelson

COLUMBIA, S.C. — CBRE has arranged the $13.8 million sale of 20/21 Business Center, a 98,386-square-foot flex property located in Columbia. Red Bank, N.J.-based Denholtz was the buyer. Matt Smith, Patrick Gildea, Robert Hardaway, Aaron Dupree and Marie Diekmann of CBRE represented the seller, CB Equities, in the transaction. Situated on 17.6 acres, the property — which was 98 percent leased at the time of sale — comprises three buildings and three vacant land parcels. Additional features of the center include interstate visibility and expansion opportunities, as well as 17 dock doors and 10 drive-in doors. CBRE originally arranged CB Equities’ acquisition of the property in May 2022 for $10.5 million.

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IndustrialLeasing ActivityNorth CarolinaSoutheast

Eaton Corp. Signs 550,000 SF Industrial Lease in Youngsville, North Carolina

by John Nelson

YOUNGSVILLE, N.C. — Eaton Corp., a publicly traded electric utility company based in Ireland, has signed a 550,000-square-foot industrial lease at US-1 North Commerce Center in Youngsville, approximately 23 miles outside Raleigh. Upon completion of the three-phase development, US-1 North Commerce Center will span five buildings across 1.4 million square feet. Summit Real Estate Group is the developer for the project. Foundry Commercial represented Summit Real Estate in the lease negotiations. Delivered in June 2024, the first phase — which was 90 percent preleased to three tenants — includes two buildings that total 394,000 square feet. Phase II — which comprises two additional buildings at 470,000 square feet — is slated for completion in the summer. Eaton Corp. will occupy the entirety of Phase III in an $18.3 million build-to-suit arrangement by the second-quarter 2026.

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DevelopmentIndustrialNorth CarolinaSoutheast

M. David Properties Completes 105,384 SF Industrial Facility in Charlotte

by John Nelson

CHARLOTTE, N.C. — M. David Properties has completed SilverPark North I, a 105,384-square-foot industrial facility located within the three-building SilverPark North industrial campus in Charlotte. SilverPark North I features 32-foot clear heights, 20 dock-high doors and two drive-in doors, as well as a 2,501-square-foot speculative office suite. Veho, a technology company that operates one of the largest parcel delivery platforms in the United States, leases a 60,932-square-foot space at SilverPark North III. SilverPark North II and III are now both fully occupied. Brad Cherry and Matthew Greer of JLL lead leasing efforts for the campus on behalf of M. David Properties.

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MCA-Freeway-Industrial-Park-Riverside-CA
CaliforniaIndustrialLoansWestern

Northmarq Arranges $52M in Refinancing for 17-Building Industrial Park in Riverside, California

by Amy Works

RIVERSIDE, CALIF. — Northmarq, on behalf of MCA Realty, has arranged $52 million in refinancing for MCA Freeway Industrial Park, a 17-building asset totaling 481,201 square feet. Scott Botsford and Joe Giordani of Northmarq’s Newport Beach, Calif., Debt + Equity team secured the refinancing, which was structured on a sub-6 percent fixed-rate, five-year term with partial interest-only payments and substantial cashout. Northmarq originated and will service the loan. The firm sourced the loan through its correspondent life insurance platform. Located at 1600-2060 Chicago Ave. and 1614-1616 Marlborough Ave., MCA Freeway Industrial Park is occupied by 120 tenants. The property offers three dock-high doors, 123 roll-up doors, 962 parking stalls and suite sizes ranging from 1,075 square feet to 23,477 square feet.

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Falcon-Commerce-Center-Monument-CO
ColoradoDevelopmentIndustrialWestern

VanTrust Enters Colorado Market with 363,955 SF Industrial Development in Monument

by Amy Works

MONUMENT, COLO. — VanTrust has broken ground for the construction of Falcon Commerce Center, a two-building Class A industrial development in Monument. The buildings offer a total of 363,955 square feet of industrial, warehouse and distribution space. The project is VanTrust’s first venture in the Colorado market. Falcon Commerce Center will include the 249,633-square-foot Building A and 114,322-square-foot Building B. Building A will be the area’s first cross-dock speculative facility, while Building B will feature a rear-load dock. Building B is slated for completion in first-quarter 2026, with Building A scheduled for delivery in second-quarter 2026. VanTrust is partnering with CP Real Estate Capital on the project. Randy Churchill of NAI Highland Commercial and Carmon Hicks of JLL are handling leasing for Falcon Commerce Center.

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Rose-Garden-Biz-Park-Phoenix-AZ
AcquisitionsArizonaIndustrialWestern

BKM Capital Partners Sells 159,304 SF Rose Garden Business Park in Phoenix

by Amy Works

PHOENIX — Newport Beach, Calif.-based BKM Capital Partners has completed the sale of Rose Garden Business Park, a small-bay industrial park on 10.2 acres in Phoenix. An undisclosed affiliate of BKM Capital Partners acquired the asset for $35.1 million. Located at 1801-1831 W. Rose Garden Lane and 20801-20823 N. 19th Ave., the property consists of nine buildings offering a total of 159,304 square feet of industrial space. Originally built in 1987, Rose Garden Business Park features 18-foot clear heights, 43 grade-level doors and 16 dock doors. At the time of sale, the property was fully leased. Bob Buckley and Tracy Cartledge of Cushman & Wakefield, in collaboration with Will Strong, Michael Matchett, Molly Hunt, Jack Stamets and Madeline Warren of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West, represented the seller in the deal.

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21300-Vanowen-St-Los-Angeles-CA
AcquisitionsCaliforniaIndustrialWestern

Marcus & Millichap Brokers Sale of 50,000 SF Industrial Property in Los Angeles

by Amy Works

LOS ANGELES — Marcus & Millichap has arranged the purchase of an industrial building located at 21300 Vanowen St. in Los Angeles. The asset traded for $16.3 million. Adam Abushagur, Ari Greene and Joshua Cohan of Marcus & Millichap represented the buyer, a limited liability company, in the deal. Situated on 2.4 acres, the single-tenant, 50,000-square-foot distribution center offers 16-foot clearances and 11 dock-high and grade-level doors. At the time of sale, the property was occupied by a FedEx Ship Center on a triple-net lease at market rate.

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DevelopmentIllinoisIndustrialMidwest

Dermody to Build 460,428 SF Logistics Facility in Romeoville, Illinois

by Kristin Harlow

ROMEOVILLE, ILL. — Dermody has acquired land at 251 S. Pinnacle Drive in the Chicago suburb of Romeoville with plans to build LogistiCenter at Romeoville, a 460,428-square-foot logistics facility. Construction will begin this spring, with completion slated for the first quarter of 2026. The site is near I-55, I-355, I-80, I-294 and Illinois Route 53. It is also in close proximity to the Union Pacific Joliet Intermodal Terminal and BNSF Logistics Park, Chicago. The project will feature a 3,000-square-foot spec office, clear height of 40 feet, 51 exterior dock-high doors, four drive-in doors, 160 parking stalls, up to 141 trailer spaces, ESFR fire protection and LED lighting. The divisible facility will be able to accommodate a wide variety of uses, including advanced manufacturing, e-commerce fulfillment, distribution and warehousing. John Whitehead and Adam Roth of NAI Hiffman represented Dermody in the transaction.

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AcquisitionsIllinoisIndustrialMidwest

Brown Commercial Group Brokers $2.4M Sale of Industrial Building in Des Plaines, Illinois

by Kristin Harlow

DES PLAINES, ILL. — Brown Commercial Group has brokered the sale of a 22,050-square-foot food distribution building in the Chicago suburb of Des Plaines for $2.4 million. The property was customized for food distribution and includes nearly 6,000 square feet of cooler space and 2,530 square feet of walk-in freezer space. Mason Hezner and Candace Scurto of Brown represented the seller, Athos Rawls Road LLC. Joe Karmin of Transwestern represented the buyer, GCB LLC, which plans to use the space for a similar food distribution business.

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IndustrialLoansTexas

Thorofare Capital Provides $48.3M Acquisition Loan for DFW Manufacturing Facility

by Taylor Williams

LOS ANGELES — Los Angeles-based Thorofare Capital has provided a $48.3 million acquisition loan for an 838,214-square-foot manufacturing facility in the Dallas-Fort Worth (DFW) area. The name and address of the property were not disclosed. The facility features 50-foot clear heights, and the undisclosed owner secured a new, 20-year lease at the time of the loan closing. The tenant was also not named. Felix Gutnikov, David Perlman, Andrew Kim and Jonathan Hart of Thorofare originated the floating-rate loan.

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