Industrial

CBRE Negotiates 432,085 SF Industrial Lease in Laredo, Texas

by Taylor Williams October 22, 2024

LAREDO, TEXAS — CBRE has negotiated a 432,085-square-foot industrial lease in the Rio Grande Valley city of Laredo. The tenant, an undisclosed global logistics company, will occupy Building 1 at North Laredo Industrial Park, a speculative structure that features 112 dock positions, three drive-in doors, 224 trailer parking spaces and 17,000 square feet of newly constructed office space. Josh Aguilar and Rob Burlingame of CBRE represented the landlord, VanTrust Real Estate, in the lease negotiations. Kristina Madayag of KBC Advisors and Carlo Molano of Forum Commercial Real Estate represented the tenant.

October 22, 2024

Acquisitions Illinois Industrial Lee & Associates Midwest

Lee & Associates Brokers Sale of Industrial Development Site in Aurora, Illinois

by Kristin Harlow October 22, 2024

AURORA, ILL. — Lee & Associates has brokered the sale of a nearly four-acre industrial development site at 2290 White Oak Circle in Aurora. The sales price was undisclosed. The site features convenient access to the I-88 tollway via Eola Road to the east and Farnsworth Avenue to the west. Nick Eboli and Andrew Block of Lee & Associates represented the seller. George Cibula of DarwinPW Realty/CORFAC International represented the buyer, which plans to build a 50,000- to 60,000-square-foot speculative cold storage or warehouse.

October 22, 2024

Acquisitions Indiana Industrial Midwest

Zacher Co. Arranges Sale of 9,917 SF Industrial Building in Auburn, Indiana

by Kristin Harlow October 22, 2024

AUBURN, IND. — The Zacher Co. has arranged the sale of a 9,917-square-foot industrial building in Auburn, about 22 miles north of Fort Wayne. The sales price was undisclosed. The property is located at 1004 Auburn Drive. Dan Gabbard of Zacher represented the seller, The Richard and Phyllis Poff Estate. Ideal Property LLC was the buyer.

October 22, 2024

California Industrial Loans Western

Cushman & Wakefield Arranges $475M CMBS Financing for 4.8 MSF Industrial Portfolio for Ares Management

by Amy Works October 22, 2024

LOS ANGELES — Cushman & Wakefield, on behalf of an Ares Management Real Estate fund, has arranged $485 million in financing backed by a 4.8 million-square-foot, 25-building industrial portfolio spanning 16 markets in 12 states. The floating-rate, CMBS single-borrower (SASB) financing was provided by a syndicate led by J.P. Morgan, with Morgan Stanley and Natixis Corporate & Investment Banking as joint bookrunners. Rob Rubano, Gideon Gil, Brian Share, Joe Lieske, Ernesto Sanchez and Lars Weston of Cushman & Wakefield Equity, Debt and Structured Finance led the financing. Managed by Ares Industrial Management, the portfolio is currently 97 percent leased to 58 tenants. The properties feature Class A and Class B, bulk warehouse and light industrial assets. The individual assets offer a variety of industrial features, including 30-foot average clear heights, ample dock doors and an average 5 percent of office space square footage across the portfolio. The portfolio includes two properties in the San Francisco Bay area totaling 518,300 square feet; three properties in Southern California totaling 344,700 square feet; five properties in Houston totaling 693,900 square feet; a 722,500-square-foot property in Reno, Nev.; and a 797,600-square-foot property in Atlanta. The remaining properties in the portfolio are spread across Salt …

October 22, 2024

Acquisitions California Industrial Western

Rexford Industrial Buys Fully Leased Industrial Building in Fontana, California for $70.1M

by Amy Works October 22, 2024

FONTANA, CALIF. — Rexford Industrial has acquired an industrial property, located at 13201 Dahlia St. in Fontana, from an undisclosed seller for $70.1 million. Constructed in 1989, the cross-dock industrial facility features 30-foot clear heights, 59 dock-high door and four grade-level doors. At the time of sale, the 278,650-square-foot building was fully leased to a credit tenant. Mark Detmer, Patrick Nally, Evan Moran, Mike McCrary, Jeff Bellitti, Ruben Goodsell and Hunter McDonald of JLL handled the transaction.

October 22, 2024

Industrial Leasing Activity Texas

Newmark Negotiates 218,400 SF Industrial Lease Extension in Irving

by Taylor Williams October 21, 2024

IRVING, TEXAS — Newmark has negotiated a 218,400-square-foot industrial lease extension at Building 4 of Valley View Business Center in Irving. The 414,871-square-foot building was constructed on 23 acres in 2009 and features 30-foot clear heights, 87 dock-high doors and five drive-in doors. John McMillan, Jeff Sanita, Danny Williams, Connor Reeves and Garrett Gibbons of Newmark represented the tenant, ASC Engineered Solutions, in the lease negotiations. Holt Lunsford Commercial represented the landlord, Brookfield Properties.

October 21, 2024

Acquisitions Industrial Michigan Midwest NAI Self-Storage Wisconsin

NAI Pfefferle Negotiates Sale of Five-Property Self-Storage Portfolio in Michigan, Wisconsin

by Kristin Harlow October 21, 2024

MICHIGAN AND WISCONSIN — NAI Pfefferle has negotiated the sale of a five-property self-storage portfolio in Michigan and Wisconsin. The assets total 355 units across 73,358 square feet. The sales price was undisclosed, but the asking price was $3.9 million. Jonathan Glassco of NAI Pfefferle brokered the sale. Buyer and seller information was not provided.

October 21, 2024

Acquisitions Illinois Industrial Midwest

Industrial Outdoor Ventures Acquires 10-Acre Industrial Service Facility in Channahon, Illinois

by Kristin Harlow October 21, 2024

CHANNAHON, ILL. — Industrial Outdoor Ventures (IOV) has acquired a 10-acre industrial service facility in Channahon near Joliet for an undisclosed price. Located on Riverside Drive, the asset consists of four grade-level equipment maintenance facilities, each approximately 15,000 square feet. The yard area can accommodate 128 trailer parking stalls. The property, leased to six tenants on a short-term basis, is situated near the BNSF and UP intermodals as well as I-55 and I-80. Josh Hearne, Andrew Bobak and Reiner Pranger of Cawley Chicago have been named the leasing agents for the property. Patrick Stanton of Patrick Commercial represented the undisclosed seller.

October 21, 2024

Acquisitions Industrial Washington Western

EQT Exeter Acquires LogistiCenter @ Oxbow Industrial Facility in Seattle for $81.5M

by Amy Works October 21, 2024

SEATTLE — EQT Exeter Real Estate Income Trust has purchased LogistiCenter @ Oxbow, a distribution facility in Seattle, for $81.5 million. Brett Hartzell and Paige Morgan of CBRE National Partners West represented the seller in the transaction. The seller was not disclosed, but the property was listed as a previous project on Dermody Properties’ website. Situated on 45.1 acres at 2871 S. 102nd St., LogistiCenter @ Oxbow offers 202,464 square feet of industrial space. Built in 2021, the property features low 10 percent coverage, 36-foot clear heights, 135-foot truck courts and a full drive-around capacity. The property was built as a build-to-suit for Amazon, according to Dermody Properties.

October 21, 2024

Industrial Loans South Carolina Southeast

CH Realty Partners Secures $50M Refinancing for Industrial Facility Near Spartanburg, Carolina

by John Nelson October 18, 2024

UNION, S.C. — Development and investment firm CH Realty Partners has secured a $50 million loan for the refinancing of its industrial facility located at 260 Midway Drive in Union, roughly 30 miles southeast of Spartanburg. Built in 2023 for mycelium technology company MycoWorks, the property spans 150,000 square feet. The refinancing with 3650 Capital will allow CH Realty Partners to optimize the capital structure of the property and ensure long-term support for MycoWorks. CH Realty Partners is also currently underway on a build-to-suit food manufacturing facility in Wilson, N.C., for Believer Meats.

October 18, 2024

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