Industrial

Gantry Arranges $8M Loan for Refinancing of Self-Storage Facility in Chicago

by Kristin Harlow October 31, 2023

CHICAGO — Gantry has arranged an $8 million permanent loan to refinance existing debt on a self-storage facility in Chicago’s South Loop. The property at 605 S. Wabash Ave. was formerly a parking structure, but now encompasses 1,184 self-storage units across five stories and 95,000 square feet. The property is under new management, operating as Extra Space Storage. Andy Bratt and Sean Kuang of Gantry arranged the loan on behalf of the borrower, a private real estate investor. An insurance company provided the five-year, fixed-rate loan.

October 31, 2023

Development Industrial Massachusetts Northeast Self-Storage

Basis Industrial Delivers 806-Unit Self-Storage Facility in Plymouth, Massachusetts

by Taylor Williams October 31, 2023

PLYMOUTH, MASS. — Basis Industrial has delivered an 806-unit self-storage facility in Plymouth, located in southern Massachusetts at the base of Cape Cod. The three-story facility spans 111,000 gross square feet of climate-controlled space and was completed in phases, with construction beginning in March 2022. Basis Industrial has engaged Public Storage to operate the facility.

October 31, 2023

12-18-Vanderhoof-Ave.-Denville-New-Jersey

Development Industrial New Jersey Northeast

JLL Secures Joint Venture Equity for 119,250 SF Industrial Project in Denville, New Jersey

by Taylor Williams October 30, 2023

DENVILLE, N.J. — JLL has secured joint venture equity for a 119,250-square-foot industrial project that will be located in the Northern New Jersey community of Denville. The site at 12-18 Vanderhoof Ave. spans 19 acres, and the facility will offer a clear height of 36 feet, 18 loading bays, one drive-in door and parking for 52 cars and 13 trailers. Marc Duval, Jason Lundy, Jordan Avanzato, Nicholas Stefans and Jose Cruz of JLL worked on behalf of the sponsor, Cervenka Development Partners, to arrange the equity partnership with global investment manager Monocle Group.

October 30, 2023

Development Illinois Industrial Midwest

Principle Construction Underway on 100,000 SF Spec Warehouse in Mount Prospect, Illinois

by Kristin Harlow October 30, 2023

MOUNT PROSPECT, ILL. — Principle Construction is underway on a 100,000-square-foot speculative warehouse in the Chicago suburb of Mount Prospect. Stotan Industrial is the developer. The project at 350 N. Wolf Road will feature a clear height of 32 feet, two drive-in doors, 96 parking spaces, 28 trailer spaces and 12 docks. Principle demolished a former Comcast office building on the site that had sat vacant for some time. Completion of the new warehouse is slated for the end of November. Harris Architects is the project architect.

October 30, 2023

Acquisitions Industrial Southeast Virginia

IPA Brokers $19.9M Sale of Industrial Property in Woodbridge, Virginia

by John Nelson October 27, 2023

WOODBRIDGE, VA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $19.9 million sale of a two-building industrial property located at 15111 and 15151 Farm Creek Drive in Woodbridge, about 26 miles south of Washington, D.C. Built in 1986 on an 8-acre site within Featherstone Industrial Park, the 139,818-square-foot property was fully leased at the time of sale to Bekins A1 Storage Inc., a privately held moving and storage company. Robert Filley and Chandler Pace of IPA represented the seller and procured the buyer. Both parties requested anonymity.

October 27, 2023

Acquisitions Industrial Southeast Virginia

Matan Acquires Two New Industrial Facilities in Richmond Totaling 321,000 SF

by John Nelson October 27, 2023

RICHMOND, VA. — Matan Cos. has purchased two recently delivered, high-bay industrial facilities within Deepwater Industrial Park in Richmond. Located 2.2 miles from the Richmond Marine Terminal, the assets total 321,000 square feet and feature 36-foot clear heights, 52- by 52-foot bay spacing and visibility from I-95. Hourigan, in collaboration with DSC Partners, delivered the facilities earlier this year. The third building within Deepwater Industrial Park is fully leased to Lowe’s Home Improvement. Matan has tapped Charlie Polk, Gareth Jones and Chris Avellana of JLL to lease the newly acquired assets. Sue Caras, Drake Grier and Evan Parker of JLL arranged acquisition financing through Mesa West Capital. The sales price and loan amount were not disclosed.

October 27, 2023

Acquisitions Industrial Texas

Matthews Arranges Sale of 211,000 SF Warehouse in West San Antonio

by Taylor Williams October 27, 2023

SAN ANTONIO — California-based brokerage firm Matthews Real Estate Investment Services has arranged the sale of a 211,000-square-foot warehouse in San Antonio. The building is located on the city’s west side and was originally constructed on 23 acres in 1969 and renovated in 2021. Jeff Miller and Michael Kelleher of Matthews represented the buyer, Evergen Equity, which plans to implement a value-add program. The seller was not disclosed. The building was leased to Flasher Equipment at the time of sale.

October 27, 2023

Acquisitions Industrial Texas

Provender Partners Acquires 185,569 SF Cold Storage Facility in Southwest Dallas

by Taylor Williams October 27, 2023

DALLAS — California-based investment firm Provender Partners has acquired a 185,569-square-foot cold storage facility in southwest Dallas. According to commercialcafé.com, the property at 5225 Investment Drive was built on 12.3 acres in 1986. Provender Partners, which acquired the facility as part of a $50 million portfolio deal, has also entered into a sale-leaseback agreement with the undisclosed seller. Chris Robinson of Fischer Co. and Scott Delphey with Food Properties Group represented both parties in the portfolio sale.

October 27, 2023

Development Indiana Industrial Midwest

NewCold Opens $300M Cold Storage Facility in Lebanon, Indiana

by Kristin Harlow October 27, 2023

LEBANON, IND. — NewCold has opened a $300 million cold storage facility in Lebanon, about 30 miles northwest of Indianapolis. The highly automated warehouse is one of the largest cold storage facilities nationwide, according to the firm. NewCold aims to make its warehouses increasingly grid-dependent, using their own power generated from a variety of sources, including renewable energy. NewCold says its properties are about 50 percent more energy efficient than traditional warehouses. The Lebanon facility serves global food producers.

October 27, 2023

Acquisitions Arizona Industrial Western

ViaWest Group Buys 39,360 SF Industrial Building in Phoenix

by Amy Works October 27, 2023

PHOENIX — ViaWest Group has acquired a single-tenant, Class A industrial property situated on 3.5 acres in central Phoenix. Buckeye RRV LLC sold the asset for an undisclosed price. Located at 1450 E. Buckeye Road, the building features 39,360 square feet of industrial space. At the time of sale, the property was fully leased to Core & Main (formerly HD Supply), a specialized distributor of water, wastewater, storm drainage and fire protection products and related services. The property features cross-dock access, truck-well and grade-level loading, more than 4,600 square feet of office space, drive-around ingress and egress, outside storage yard and heavy power. Paul Boyle of Cushman & Wakefield’s Phoenix office represented the seller and buyer in the deal.

October 27, 2023

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