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Industrial

ExtraSpace-Storage-Budd-Lake-New-Jersey
DevelopmentIndustrialNew JerseyNortheastSelf-Storage

Quinlan Development Completes 761-Unit Self-Storage Facility in Budd Lake, New Jersey

by Taylor Williams

BUDD LAKE, N.J. — New York City-based Quinlan Development Group has completed a 761-unit self-storage facility in the Northern New Jersey community of Budd Lake. The facility spans 95,200 net rentable square feet across four buildings and offers a mix of climate- and non-climate-controlled units. The project also features direct unit lighting and hydraulic elevators throughout. Ware Malcomb designed the project, and Gerard Construction served as the general contractor. ExtraSpace Storage will operate the facility.

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AcquisitionsIndustrialNew JerseyNortheast

Dora’s Naturals Buys Industrial Property in Moonachie, New Jersey, for $31M

by Taylor Williams

MOONACHIE, N.J. — Dora’s Naturals, a distributor of perishable food-and-beverage products, has purchased a 105,000-square-foot industrial property in the Northern New Jersey community of Moonachie for $31 million. The building at 210 W. Commercial Ave. was originally constructed in 1966. Kevin Dudley, Chad Hillyer, Nicholas Klacik, Elli Klapper, Kate Granahan and Brian Fiumara of CBRE represented Dora’s Naturals in the transaction. The seller was Beauty Plus, a provider of wigs and hair extensions.

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CRG-9401-De-Soto-Ave-LA-CA
AcquisitionsCaliforniaIndustrialWestern

NBP Capital Sells Industrial Building in Los Angeles for $41.5M

by Amy Works

LOS ANGELES — NBP Capital, dba NBP 9401 De Soto LLC, has completed the disposition of a warehouse and distribution facility located at 9401 De Soto Ave. in the Chatsworth neighborhood of Los Angeles. Center Capital Partners, Authentic Capital Group and TPG Angelo Gordon acquired the asset for $41.5 million. Situated on 6.7 acres, the 150,831-square-foot property features 28- to 31-foot clear heights, 12 dock-high loading positions, six ground-level doors, 21,000 square feet of office space and a fenced concrete yard. At the time of sale, the property was fully leased to two high-quality tenants. Mark Esses and Keith Kleinman of California Realty Group represented the seller, while Michael Longo, Barbara Perrier and Bennett Robinson of CBRE National Partners represented the buyer in transaction. The property will serve as the initial investment in a joint venture between TPG Angelo Gordon and Center Capital Partners’ partnership with Authentic Capital Group.

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IndustrialKansasLoansMidwest

Barings Provides $244M Loan for Refinancing of 6.4 MSF Industrial Portfolio in Edgerton, Kansas

by Kristin Harlow

EDGERTON, KAN. — Barings has provided a $244 million loan for the refinancing of a 10-building industrial portfolio totaling 6.4 million square feet within Logistics Park Kansas City in Edgerton, about 40 miles southwest of Kansas City. A joint venture between an Ares Management Real Estate fund and NorthPoint Development owns the portfolio, which was developed between 2014 and 2017. On average, the buildings feature a clear height of 35 feet and 706 dock doors. The portfolio is currently 93 percent leased to tenants such as Amazon, Stanley Black & Decker, Sam’s Club, Assa Abloy and Smart Warehousing. All 10 properties offer immediate access to BNSF Railway’s intermodal rail facility.

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AcquisitionsIndustrialMidwestWisconsin

Colliers Brokers Sale of 10-Building Industrial Portfolio in Cudahy, Wisconsin

by Kristin Harlow

CUDAHY, WIS. — Colliers has brokered the sale of a 10-building industrial portfolio known as Mitchell Industrial Park in Cudahy, a southern suburb of Milwaukee. The sales price was undisclosed. The portfolio totals 879,704 square feet and is 99 percent leased to 22 tenants, including DHL, National Packaging Services, Menasha Packaging and Fastenal. The buildings, constructed over the course of several decades, range in size from 24,000 to 212,000 square feet. The assets are located on the immediate southeast corner of Milwaukee Mitchell International Airport. Tom Shepherd, Jennifer Huber-Bullock, Bill Langhoff, Joe Langhoff, Jeff Devine, Steve Disse and Tyler Ziebel of Colliers represented the seller, an affiliate of Oak Realty Group Inc. A joint venture between DRA Advisors and Capital Partners purchased the portfolio. According to Colliers, the deal marked the largest industrial sale year to date in Wisconsin in terms of both size and value.

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IllinoisIndustrialLeasing ActivityMidwest

Commercial Stainless Services Signs 38,169 SF Industrial Lease in Itasca, Illinois

by Kristin Harlow

ITASCA, ILL. — Commercial Stainless Services Inc. has signed a 38,169-square-foot industrial lease at 1401 Glenlake Ave. in Itasca. The full-service commercial kitchens and architectural products manufacturer is relocating from 1201 Busse Road in Elk Grove Village. The Itasca facility is located just west of O’Hare International Airport and features convenient access to I-290, I-90 and I-355. Jeff Janda and Michael Plumb of Lee & Associates represented the landlord, Prologis. Chris Nelson and Calvin Gunn of Lee & Associates represented the tenant.

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Pederson-Logistics-Center-Katy
AcquisitionsIndustrialTexas

Triten Real Estate Partners Sells 343,760 SF Industrial Property in Katy, Texas

by Taylor Williams

KATY, TEXAS — Locally based development and investment firm Triten Real Estate Partners has sold a 343,760-square-foot industrial property located at 574 Pederson Road in the western Houston suburb of Katy. Pederson Logistics Center is a freestanding cross-dock building that sits on a 25-acre site and features 36-foot clear heights and an ESFR sprinkler system. At the time of sale, the building was fully leased to exercise equipment provider Johnson Health Tech. The buyer was Dallas-based Sealy & Co. The sales price was not disclosed.

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AcquisitionsIndustrialTexas

Colliers Arranges Sale of 48,500 SF Industrial Building in Tomball, Texas

by Taylor Williams

TOMBALL, TEXAS — Colliers has arranged the sale of a 48,500-square-foot industrial building in the northern Houston suburb of Tomball. The building sits on 7.3 acres at 915 S. Cherry St. and, according to LoopNet Inc., was originally constructed in 1974 and renovated in 2014. Tom Condon Jr. of Colliers represented the seller, an entity doing business as JPL Ventures South Cherry LLC, in the transaction. The buyer, Dixon Capital, was self-represented.

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DevelopmentIndustrialMassachusettsNortheast

Rhino Capital Breaks Ground on 180,000 SF Manufacturing Facility in Taunton, Massachusetts

by Taylor Williams

TAUNTON, MASS. — Boston-based investment firm Rhino Capital Advisors has broken ground on a 180,000-square-foot manufacturing facility in Taunton, located south of Boston near the Massachusetts-Rhode Island border. The site spans 11.2 acres within Myles Standish Industrial Park, and the building will feature a clear height of 36 feet, five loading docks and 270 parking spaces. Rhino Capital is developing the property in partnership with MassDevelopment and the Taunton Development Corp. Construction is expected to be complete next spring.

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AcquisitionsIndustrialMidwestMinnesota

Syndicated Equities Group Acquires 45,306 SF Winnebago Industries Innovation Center Near Minneapolis

by Kristin Harlow

SAVAGE, MINN. — Syndicated Equities has acquired the Winnebago Industries Innovation Center in Savage, about 20 miles south of Minneapolis. The property consists of a 45,306-square-foot, single-story industrial building that is fully net leased to Winnebago Industries. Originally constructed in 2017, the building underwent a renovation to Winnebago’s specifications in 2023 and now serves as the company’s primary research, development and testing facility. Winnebago utilizes the property for the creation of new prototypes, technology enhancements for its vehicles, data and connectivity upgrades, advanced materials construction and self-driving autonomy development. Syndicated also owns Winnebago’s corporate headquarters, which are located three miles northwest of the asset. Syndicated acquired the latest property in a Delaware Statutory Trust ownership structure to accommodate investors completing 1031 exchanges along with accredited individual investors.

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