HOUSTON — Alterra IOS (industrial outdoor storage) has acquired a 4.6-acre site in southeast Houston. The site at 9002 Wayfarer Lane houses 40,930 square feet of warehouse space, and an undisclosed, national trucking company recently renewed its lease at the property. Zane Carman of Partners Real Estate brokered the sale. The seller and sales price were not disclosed.
BERGEN, N.Y. — Dutch farm machinery and equipment provider Oxbo International will open a 195,000-square-foot, build-to-suit industrial project in Bergen, a western suburb of Rochester. The site spans 50 acres, and the new facility will replace Oxbo’s existing plant that is located about seven miles away and has been operational since 1969. Oxbo will enter into a 25-year ground-lease agreement with the owner, Ohio-based Geis Development, and expects to employ about 200 people at the plant at full capacity. Construction is slated for an October 2025 completion.
MOUNT OLIVE, N.J. — JLL has arranged a $9 million permanent loan for a 161,000-square-foot industrial building in the Northern New Jersey community of Mount Olive. Constructed in 1982, the building features clear heights of 19 to 22 feet, 112 surface parking spaces, 30 trailer parking spaces, 11 tailboard loading docks and three drive-in doors. Greg Nalbandian and Ben Morgenthal of JLL arranged the 10-year, fixed-rate loan through life insurance company TruStage on behalf of the borrower, Commercial Realty Group. The building was fully leased at the time of the loan closing to UnCommon Logistics.
NEW YORK CITY — Marcus & Millichap has brokered the $8.5 million sale of two industrial and office buildings in the Long Island City area of Queens. The adjacent properties are located at 37-11 Vernon Blvd. and 814 37th Ave. and include a total of 18,440 square feet of building space and a 6,560-square-foot open lot for shipping and parking. The buildings also feature 20-foot ceilings, conference rooms and overhead crane space. Jakub Nowak of Marcus & Millichap represented the seller, Vernon Associates LLC, in the transaction and procured the buyer, an undisclosed local private investor.
WEST SACRAMENTO, CALIF. — Lee & Associates has arranged the sale of a heavy industrial-zoned property at 3961 Channel Drive in West Sacramento. Yara North America sold the asset Greencycle Properties, an affiliate of Teichert Inc., for $17.9 million. Alex Weiss and Greg Pieratt of Lee & Associates represented the seller in the transaction. The site, which was formerly used by Yara International as a fertilizer supply port, was decommissioned a year ago. Situated on 23.4 acres, the asset includes one existing building, rail spurs, 5.5 acres of undeveloped industrial land and direct access to the Sacramento Deep Water Ship Channel.
ITASCA, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has purchased a 59,735-square-foot industrial building in Itasca for an undisclosed price. Constructed in 1972 and located at 700 District Drive, the facility features clear heights ranging from 18 to 24 feet, three docks, two drive-in doors and parking for 77 cars. Venture One signed a long-term lease with a tenant prior to closing on the property. Jeff Janda of Lee & Associates represented the undisclosed seller, while Cal Payne of CBRE represented Venture One and the tenant. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group.
LAKELAND, FLA. — Equus Capital Partners Ltd. has acquired a two-building industrial property located at 900 and 920 N. Chestnut Road in Lakeland, about 35 miles east of Tampa. An affiliate of High Street Logistics Properties sold the 299,241-square-foot property for $38 million. Frank Fallon and Jose Lobon of CBRE represented the seller in the transaction. Equus Capital purchased the property on behalf of a programmatic joint venture between one of its affiliates and a domestic public pension plan. The two industrial buildings were built in 2021 and were fully leased at the time of sale to two tenants: Gruma and Safelite. The property sits 1.5 miles from I-4 and a little over four miles from Lakeland Linder International Airport.
PASADENA, TEXAS — Alterra IOS has acquired a five-acre industrial outdoor storage site in the eastern Houston suburb of Pasadena. The site at 5100 Underwood Road currently houses 57,500 square feet of warehouse space and was acquired off-market via a sale-leaseback with the seller and tenant, an undisclosed national industrial chemical cleaning company. The sale-leaseback agreement spans 10 years and also includes two other properties.
NAMPA, IDAHO — LDK Ventures has completed the disposition of Building C at Madison Logistics Center in Nampa to Marlay Partners for $21 million. The facility sits approximately 21 miles west of Boise, Idaho via I-84. Building C is one of the industrial park’s three 115,008-square-foot buildings, which in total offer 345,024 square feet of industrial space. At the time of sale, Building C was fully occupied by tenants including a Fortune 50 retailer, UTZ Quality Foods and Carroll’s. Madison Logistics Center features 32-foot warehouse clear heights, an ESFR sprinkler system, ample dock doors, trailer parking stalls and roofing prepped for solar panels.
LINTHICUM HEIGHTS, MD. — Rockefeller Group has broken ground on a 136,500-square-foot distribution center located at 1305 Furnace Road in Linthicum Heights. The New York City-based developer has dubbed the project “Rockefeller Group Logistics Center BWI” given its three-mile distance to Baltimore/Washington International Thurgood Marshall Airport (BWI Airport). The Class A property will feature 36-foot clear heights, 54- by 50-foot column spacing, a 60-foot-wide speed bay, 147 car parking spaces and 33 dock doors with two additional drive-in doors. The development will also feature one acre of industrial outdoor storage. The project team includes Morris & Ritchie Associates (civil engineer), Morgan Gick McBeath Associates (architect) and FCL Builders (general contractor). John Boote, Jarred Testa and McLane Fisher of Cushman & Wakefield will oversee leasing of the project on behalf of Rockefeller Group, which plans to deliver the facility in fourth-quarter 2025.