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Industrial

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AcquisitionsIndustrialNortheast

Cushman & Wakefield Brokers Sale of 560,719 SF Industrial Property in Bay Shore, New York

by Taylor Williams

BAY SHORE, N.Y. — Cushman & Wakefield has brokered the sale of Candlewood Industrial Park, a two-building, 560,719-square-foot development located in the Long Island community of Bay Shore. Built in 1999, the structure at 145 Candlewood Road spans 313,246 square feet and features a clear height of 40 feet. Completed in 2013, the building at 158 Candlewood Road totals 247,473 square feet and features a clear height of 38 feet. Gary Gabriel, Kyle Schmidt, Ryan Larkin and Seth Zuidema of Cushman & Wakefield represented the seller, Rockefeller Group, in the transaction, and procured the buyer, NorthBridge Partners. Cushman & Wakefield has also been retained as the leasing agent.

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AcquisitionsIndustrialNew JerseyNortheast

JLL Negotiates Sale of Industrial Outdoor Storage Facility in Union, New Jersey

by Taylor Williams

UNION, N.J. — JLL has negotiated the sale of an industrial outdoor storage facility in the Northern New Jersey community of Union. The property at 2461 Iorio St. features a service facility with a clear height of 15 feet, one loading dock, four drive-in bays and 2.5 acres of outdoor storage space. Jason Lundy, Marc Duval, Jordan Avanzato and Nicholas Stefans of JLL represented the undisclosed seller in the transaction and procured the buyer, New York-based investment firm Ridgecut Road.

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AcquisitionsIndustrialSouth CarolinaSoutheast

JLL Brokers Sale of 158,340 SF Distribution Facility in Summerville, South Carolina

by John Nelson

SUMMERVILLE, S.C. — JLL has brokered the sale of Jedburg Logistics Park – Building 2, a 158,340-square-foot distribution facility located at 237 Jedburg Road in Summerville, a suburb of Charleston. Clarion Partners purchased the newly constructed facility from a partnership between Trinity Capital Advisors and Hartford Investment Management Co. The sales price was not disclosed. The property was fully leased at the time of sale to an unnamed global e-commerce company and features 32-foot clear heights, ESFR sprinklers and parking for automobiles and trailers.

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IndustrialLeasing ActivityNew JerseyNortheast

Federation Distribution Services Signs 104,451 SF Industrial Lease in South Brunswick, New Jersey

by Taylor Williams

SOUTH BRUNSWICK, N.J. — Federation Distribution Services Inc. has signed a 104,451-square-foot industrial lease in South Brunswick, located roughly midway between Trenton and Newark. The third-party logistics company will occupy half the space at the newly renovated building at 461 Ridge Road for a term of 65 months. Gary Politi and Michael Viera of JLL represented the landlord, a partnership between New Jersey-based Woodmont Industrial Partners and Denver-based Sagard Real Estate, in the lease negotiations. Monica Franco of Lee & Associates represented the tenant.

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IndustrialLeasing ActivityNortheastRhode Island

Cushman & Wakefield Negotiates 28,000 SF Office Lease in Johnston, Rhode Island

by Taylor Williams

JOHNSTON, R.I. — Cushman & Wakefield has negotiated a 28,000-square-foot office lease in Johnston, located just west of Providence. The tenant, regional contractor Dimeo Construction Co., is taking space at 1301 Atwood Ave., a 315,710-square-foot building that was originally constructed in 1973. Matt Fair and Peter Hayes of Cushman & Wakefield represented the landlord, Hobbs Brook Real Estate, in the lease negotiations. Alden Anderson of CBRE represented the tenant.

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AcquisitionsArizonaIndustrialWestern

BGO Acquires 1 MSF Industrial Building in Buckeye, Arizona

by Amy Works

BUCKEYE, ARIZ. — BGO, on behalf of an institutional investor, has purchased Paloma Vista Logistics Center — Building 1, a Class A warehouse and distribution building on nearly 50 acres in Buckeye. A joint venture between US Capital Development and funds managed by Ares Management sold the asset for an undisclosed price. Located at 18900 W. McDowell Road, the 1 million-square-foot Paloma Vista Logistics Center — Building 1 offers a clear height of 40 feet, multiple points of ingress/egress and 190-foot maneuverability. Completed in March 2024, the building is part of a master-planned industrial park with a recently completed 423,000-square-foot building adjacent to the property and a 1.2 million-square-foot planned Phase II. Upon completion, the park will total 2.7 million square feet of industrial space. Will Strong, Michael Matchett and Molly Hunt of Cushman & Wakefield’s Industrial Advisory Group represented both parties in the transaction. Andy Markham, Mike Haenel and Phil Haenel of Cushman & Wakefield provided leasing advisory and were retained by the buyer to continue leasing services for the project.

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AcquisitionsIllinoisIndustrialMidwest

Standard, TCC Sell 217,000 SF Industrial Facility in Woodridge, Illinois

by Kristin Harlow

WOODRIDGE, ILL. — Standard Real Estate Investments LP and Trammell Crow Co. (TCC) have sold Woodridge Industrial Center in the Chicago suburb of Woodridge for an undisclosed price. Standard made an equity investment through its $150 million investment vehicle last year, and construction was completed in July of this year. The transaction marks the first sale in the investment vehicle. Located at 8110 Lemont Road, Woodridge Industrial Center totals 217,000 square feet on 17 acres. The development is situated two miles north of the I-55/I-355 interchange and features 22 dock doors with 130-foot truck courts and 270 parking spaces. The project team included Harris Architects, general contractor FCL and civil engineer SpaceCo.

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AcquisitionsGeorgiaIndustrialSoutheast

JLL Arranges $100.6M Sale of New Bulk Industrial Building in Savannah

by John Nelson

SAVANNAH, GA. — JLL has arranged the $100.6 million sale of Rockingham Farms Building 9, a 942,210-square-foot industrial facility located at 125 Feldspar Drive in Savannah. The seller, Scannell Properties, developed the bulk industrial building in 2023 within Rockingham Farms Logistics Park, a 5.8 million-square-foot industrial development approximately nine miles from Port of Savannah’s Garden City terminal. Goldman Sachs Alternatives purchased the facility, which was fully leased at the time of sale to four tenants. Britton Burdette, Matt Wirth, Dennis Mitchell and Jim Freeman of JLL represented the seller in the transaction. The cross-dock building features 40-foot clear heights, 185-foot truck court, 183 dock-high doors, 7,500 square feet of offices and ample automobile and trailer parking.

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IndustrialLeasing ActivityTexas

OKT Lighting USA Signs 43,760 SF Industrial Lease in South Houston

by Taylor Williams

HOUSTON — OKT Lighting USA has signed a 43,760-square-foot industrial lease in South Houston. The manufacturer of LED linear lighting and downlights is taking space at 2304 Reed Road, an industrial building that according to LoopNet Inc. totals 79,072 square feet and features 30-foot clear heights. Will Mason and Tyler Maner of Stream Realty Partners represented the tenant in the lease negotiations. Allison Bergmann and Jim Foreman of Cushman & Wakefield represented the locally based landlord, Hines.

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AcquisitionsIndustrialNorth CarolinaSoutheast

Avison Young Brokers Sale of 402,390 SF Distribution Center in Metro Charlotte Leased to Amazon

by John Nelson

CONCORD, N.C. — Avison Young has brokered the sale of a 402,390-square-foot distribution center located at 7040 Northwinds Drive NW in Concord, a suburb of Charlotte along I-85. E-commerce giant Amazon fully occupies the facility for use as a fulfillment center. Texas-based Stonelake Capital Partners purchased the property from SL Industrial Partners, a member of the Silverman Group family of companies. Chris Skibinski, Henry Lobb and Abby Rights of Avison Young brokered the transaction. The sales price was not disclosed, but the Charlotte Business Journal reports the property traded for approximately $51 million. Will Jenkins, Marc Hedrick and Jack Harvey led Stonelake Capital’s team in the transaction on an internal basis.

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