BLOOMINGDALE, GA. — A partnership between Crestlight Capital and GEM Realty Capital has acquired Savannah Portside II, a newly constructed, 1.2 million-square-foot industrial distribution warehouse located in Bloomingdale, roughly 14 miles northeast of Savannah. In September 2023, the partnership purchased the adjacent Savannah Portside I building. Together, the properties, which are located at 201 and 301 Savannah Portside International Parkway, total 2.3 million square feet. Two undisclosed tenants fully occupy the buildings. CBRE will manage and lease both properties on behalf of Crestlight and GEM.
DENTON, TEXAS — Dallas-based Urban Logistics Realty has sold Urban District 35, a four-building, 440,663-square-foot industrial property located in the North Texas city of Denton. The buyer was High Street Logistics Properties. The 31-acre site fronts I-35, and building features include 28- to 32-foot clear heights, 60-foot speed bays and ample car and trailer parking. Construction began in early 2022. Urban District 35 was 67 percent leased at the time of sale.
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.