CLEVELAND, TEXAS — Locally based brokerage firm Oxford Partners has negotiated the sale of a 16,000-square-foot industrial building located at 2024 County Road 388 in Cleveland, about 45 miles northeast of Houston. Matt Rogers of Oxford Partners represented the seller, BE Plastics Inc. in the transaction. Tim Larson of KW Commercial represented the undisclosed buyer.
BEDFORD, MASS. — A partnership between Redgate, Optimum Asset Management and AEW Capital Management has delivered Riverwalk Labs, a 168,000-square-foot life sciences and manufacturing project in Bedford, about 20 miles northwest of Boston. The developers converted a former office building into a facility with 20,000-square-foot lab and office suites, as well as four separate tenant lobbies and multiple loading docks. Ci Design served as the project architect, and J. Calnan & Associates served as the general contractor.
Douglas Capital Partners Acquires 385,000 SF Office, Industrial Portfolio in Metro Columbus for $25M
GROVE CITY AND DUBLIN, OHIO — Michigan-based real estate investment firm Douglas Capital Partners has acquired three Columbus-area properties from American National Insurance Co. and Brookfield for $25 million. The three-property portfolio totals 385,000 square feet and is comprised of SouthPark XX, a Class A industrial asset in Grove City, and two office buildings in Dublin. The office assets include the Emerald Professional Building and Upper Metro Place. The acquisitions mark the first investments outside of Michigan for Douglas Capital Partners.
NEW HOLSTEIN, WIS. — Greywolf Brokerage LLC, a division of Greywolf Partners Inc., has arranged the $3.7 million sale of a 122,500-square-foot industrial building in New Holstein, about 43 miles south of Green Bay. The property sits on six acres at 2221 Calumet Drive. The fully leased building features 10 loading docks, five drive-in doors and a clear height of 20 feet. Buyer and seller information was not provided.
LAS VEGAS — Gantry has secured a $7 million permanent loan to retire construction financing for Epic Storage @ Ann Road, a self-storage facility in Las Vegas. Located at 10490 Hammer Lane, the property features 681 self-storage units and 46 RV parking spaces. The Class A property was delivered in third-quarter 2023. Chris Funai of Gantry’s Las Vegas office represented the borrower, a local real estate developer. The 10-year loan was procured from one of Gantry’s insurance company correspondents at a fixed rate and 30-year amortization period.
REDWOOD CITY, CALIF. — Marcus & Millichap has arranged the sale of an industrial property located at 2549 Middlefield Road in Redwood City, located in the southern Bay Area. An individual sold the asset to an undisclosed buyer for $1.7 million. Built in 1975, the 4,800-square-foot building features two grade-level roll-up doors, office space and two bathrooms. The property is currently undergoing significant street improvements, which will add to traffic counts. Carlos Azucena and Joshua Johnson of Marcus & Millichap represented the seller in the deal.
FORT PIERCE, FLA. — Stonemont Financial Group has completed South Florida Logistics Center 95, a 1.3 million-square-foot industrial park in Fort Pierce, a city in Southeast Florida’s St. Lucie County. The complex is located at the intersection of South Kings Highway and Orange Avenue, near I-95 and the Florida Turnpike. At 1.1 million square feet, Building 1 at the complex is the largest speculative building in Southeast Florida, according to Stonemont, while Building 2 spans 245,000 square feet. The design-build team includes construction firm Evans General Contractors, architect Ware Malcomb and civil engineer Engineering Design & Construction Inc. Sky Groden of JLL’s Fort Lauderdale office is handling leasing at South Florida Logistics Center 95, both buildings of which are available for lease.
CHARLOTTESVILLE, VA. — A joint venture between Madison Capital Partners and Batson-Cook Development Co. (BCDC) has broken ground on Go Store It Self Storage Charlottesville, a five-story self-storage facility. The 704-unit property will be located at the intersection of Rio Road West and Seminole Trail, about three miles north of the University of Virginia. The 92,585-square-foot facility will feature climate-controlled units, interior loading areas and 24/7 security. Project partners include general contractor BenCo Construction, architect JMN Architecture and civil engineer Shimp Engineering. United Bank is providing construction financing to Madison Capital and BCDC, which expect to deliver Go Store It Self Storage Charlottesville in early 2025.
BRENHAM, TEXAS — Locally based brokerage firm Cypressbrook Co. has negotiated a 12,000-square-foot industrial lease at 3265 U.S. Highway 290 in Brenham, about 75 miles northwest of Houston. George Montes of Cypressbrook represented the tenant, construction equipment dealer Berry Cos., in the lease negotiations. Lindi Braddock of Coldwell Banker Properties Unlimited represented the undisclosed landlord.
PHOENIX — MDC Realty Advisors and Mancal Properties have received $12.5 million in acquisition financing for the purchase of 2632 E. Chambers St., an industrial warehouse in Phoenix. The 114,907-square-foot asset features 28-foot clear heights, six dock doors, six drive-in doors and 131 parking spaces. The current tenant inked a long-term lease as part of the transaction and will continue its longstanding history at the property, which is situated in the Sky Harbor Airport market. Will Haass and Eric Tupler of JLL Capital Markets secured the interest-only, fixed-rate loan from a correspondent insurance company for the borrower.