Thursday, May 22, 2025
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Industrial

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AcquisitionsCaliforniaIndustrialWestern

West Harbor Capital Sells 184,778 SF Industrial Property in City of Industry, California

by Amy Works

CITY OF INDUSTRY, CALIF. — West Harbor Capital has completed the disposition of an industrial property located at 705 Baldwin Park Blvd. in the City of Industry to Safco Capital Corp. for $38 million. Cenveo, the nation’s largest envelope manufacturer, fully occupies the 184,778-square-foot property that features loading doors, trailer parking and 4,000 amps of power. Barbara Perrier and Eric Cox of CBRE National Partners West, along with Paul Sablock of JLL, represented the seller in the transaction.

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AcquisitionsIndustrialMidwestOhio

Marcus & Millichap Negotiates $3.8M Sale of Industrial Property in Sidney, Ohio

by Kristin Harlow

SIDNEY, OHIO — Marcus & Millichap has arranged the $3.8 million sale of a 165,230-square-foot industrial property in Sidney, about 40 miles north of Dayton. Located at 1521 Michigan St., the facility sits on more than 33 acres at the intersection of I-75 and Michigan Street. Formerly home to Reliable Castings Corp., the property includes heavy manufacturing capacity, a machine shop, warehouse, distribution spaces and offices. Nathan Pealer of Marcus & Millichap represented the seller, Reliable Castings, and procured the buyers, Moxie Equities and Lido Realty. The complex sale involved a bankruptcy, a business winding down its operations and active equipment auctions taking place during the selling process, according to Pealer. The buyers plan to improve and lease the property, and marketing efforts are underway.

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IndustrialMarket ReportsUtahWesternWestern Market Reports

Utah’s Industrial Market Enters 2025 With Steady Demand, Evolving Product Mix

by John Nelson

— By Jarrod Hunt of Colliers —  Utah’s industrial real estate market continues to show resilience in 2025, supported by healthy tenant demand and an evolving mix of warehouse, flex and manufacturing product types. Leasing activity remains particularly strong in the 20,000- to 50,000-square-foot range, with a steady stream of local fulfillment and light manufacturing tenants driving mid-sized requirements across the Wasatch Front. Product Type and Demand Trends With enhanced industrial tracking now focused by building type, warehouse space stands out as the most active, though flex and light manufacturing buildings are seeing targeted interest. Mid-sized tenants seeking efficient, modern, move-in-ready space continue to account for most lease activity, favoring locations with convenient access to transportation corridors and workforce hubs. South Market Poised for a Breakout Year The South Utah County market is positioned for another active year, with a wave of new deliveries and groundbreakings happening this year. The Ritchie Group’s Global Logistics Center near the Spanish Fork Airport is the region’s largest project. It will feature 13 planned buildings comprising 3.3 million square feet, and early leasing interest is encouraging. While the Central market has led to early year absorption, momentum in the South is expected to build …

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AcquisitionsIndustrialSelf-StorageTexas

JLL Negotiates Sale of Three Houston Self-Storage Facilities Totaling 1,606 Units

by Taylor Williams

HOUSTON — JLL has negotiated the sale of three self-storage facilities totaling 1,606 units in the Houston area that are operated under the Go Store It brand. The facilities are located at 2919 S. Highway 146 in the Bacliff area on the city’s southeast side and 12610 Tanner Road and 4100 W. 34th St. in northwest Houston. All three properties were built in the past 25 years and offer climate- and non-climate-controlled space. Matthew Wheeler, Adam Roossien, Brian Somoza and Steve Mellon of JLL represented the seller, a partnership between Madison Capital Group and affiliates of Cerberus Capital Management, in the transaction. Griffin Guthneck, also with JLL, arranged an undisclosed amount of acquisition financing for the purchase, which was part of a larger, 340,000-square-foot (net rentable) portfolio deal that included two facilities in Rhode Island. The buyer was not disclosed.

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AcquisitionsIndustrialTexas

Apricus Realty, ABR Capital Buy 11-Acre IOS Property in Houston

by Taylor Williams

HOUSTON — A joint venture between Dallas-based Apricus Realty Capital and Baltimore-based ABR Capital Partners has purchased an 11-acre IOS (industrial outdoor storage) property in Houston. The address was not disclosed. The joint venture acquired the rail-served property, which includes more than 100,000 square feet of existing facilities across multiple buildings, in a sale-leaseback with Box Gang Manufacturing, a locally based manufacturer of waste management products including dumpsters and trash bins. Nathan Mai and Carlton Anderson of Mohr Partners represented the joint venture in the transaction. C.W. Sheehan, Peyton Ackerman and Nate Henderson of JLL arranged acquisition financing for the deal.

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IndustrialLeasing ActivityTexas

Duralum Products Signs 57,000 SF Industrial Lease in Northwest Dallas

by Taylor Williams

DALLAS — Duralum Products has signed a 57,000-square-foot industrial lease in northwest Dallas. The provider of patio covers and other home furnishings is taking space at 7 Justice Way, a single-tenant building that according to LoopNet Inc. was completed in 2023. Jason Moser and Giovanni Scardino of Stream Realty Partners represented the locally based landlord, Trive Capital, in the lease negotiations. David Eseke and Clay Balch of Cushman & Wakefield represented the tenant.

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IndustrialLeasing ActivityNew JerseyNortheast

Logistics Plus Inc. Signs 1 MSF Industrial Lease in Millstone, New Jersey

by Taylor Williams

MILLSTONE, N.J. — Pennsylvania-based Logistics Plus Inc. has signed a 1 million-square-foot, full-building industrial lease in Millstone, an eastern suburb of Trenton. The building is part of Millstone 8 Logistics Center, a 140-acre speculative development by Crow Holdings that also includes a 220,000-square-foot building that is fully leased to United Legwear. Logistics Plus’ building features a clear height of 40 feet, 274 trailer parking stalls and 172 loading doors. Rob Kossar, Nate Demetsky and Leslie Lanne of JLL represented the ownership group, which includes The Carlyle Group and 2020 Acquisitions, in the lease negotiations. Andrew Crites, Art Leichner and Kyle Eaton of Newmark represented the tenant.

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AcquisitionsFloridaIndustrialSoutheast

CBRE Arranges $43.5M Sale of Warehouse in North Miami

by John Nelson

MIAMI — CBRE has arranged the sale of Sunshine State Industrial, a 211,471-square-foot, multi-tenant warehouse located at 1400 N.W. 159th St. in Miami. Corebridge Real Estate Investors purchased the property for $43.5 million. José Lobón, Trey Barry, Frank Fallon, Royce Rose, George Fallon, Gabriel Braun and Daniel Sarmiento of CBRE represented the seller, Boston-based Longpoint Partners, in the transaction. Originally built in 1969 on the city’s north side, the cross-dock warehouse features fluorescent and metal halide lighting, LED exterior lighting, 24-foot clear heights, 151 parking spaces, 49 loading positions and truck court depths of 95 feet to 150 feet, as well as a 335-foot building depth. The property is situated within the 5 million-square-foot Sunshine State Industrial Park, immediately adjacent to the Golden Glades Interchange project and the Miami and Fort Lauderdale airports.

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Clarion-IOS
IndustrialLoansTop Stories

Clarion Provides Financing for 2.3 MSF National Industrial Outdoor Storage Portfolio

by Taylor Williams

NEW YORK CITY — A fund backed by New York City-based Clarion Partners has provided an undisclosed amount of financing for a national portfolio of eight industrial outdoor storage (IOS) properties totaling 2.3 million square feet. Eastdil Secured arranged the debt and acted as an advisor on the deal. The debt is a first mortgage loan for the refinancing of the national portfolio, and the borrower is a partnership between Outour Storage Investments and affiliates of Cerberus Capital Management. The portfolio encompasses properties in Chicago, Phoenix, Las Vegas, Houston, California’s Inland Empire, Dallas-Fort Worth and Atlanta with an aggregate size in excess of 50 acres. The Clarion fund also acquired a 7.6-acre IOS facility at 15550 Export Plaza Drive in Houston. The Houston property was recently upgraded, includes a 24,000-square-foot structure and was fully leased at the time of sale to a waste management services company. “This portfolio is a relatively rare assembly of IOS properties with best-in-class specifications, terrific market locations and a strong roster of national and regional credit tenants,” says Brent Jenkins, portfolio manager at Clarion Partners. “This financing provides an ideal opportunity to expose our investors to this high-demand subsector within the larger industrial and logistics …

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AlabamaIndustrialMarket ReportsSoutheastSoutheast Market Reports

‘Clouds Are Clearing’ for Next Step of Birmingham’s Industrial Market

by John Nelson

The Birmingham industrial market is poised for an increase in absorption as the apex of higher interest rates seem to be settling down, not to mention the post-election certainty that now favors business expansion. Corporate America is waking up and the clouds are clearing.   For the past 24 months, the competitive set of investor-controlled warehouse space has been sitting on about 2 million square feet of inventory. About 550,000 square feet of that is still unleased speculative space in three different projects delivered at the back-end of the post-COVID development wave that did see about 700,000 square feet of absorption of new spec space before the music metaphorically stopped.  Then came the 2023/2024 wave of the “new spec space,” a byproduct of the mentioned interest rates and COVID over-correction. Several second-generation spaces are now being marketed as companies vacated or downsized for various reasons. For example, discount retailer Dollar General is vacating an entire 307,000-square-foot warehouse.  Broader, there have been two major announcements in Central Alabama for the closure of distribution centers, both as a result of retailers’ bankruptcies. JoAnn Fabric’s 700,000-square-foot distribution facility in Opelika at I-85 is now on the market as is the 1.2 million-square-foot former …

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