FORT WORTH, TEXAS — Holt Lunsford Commercial has negotiated an 8,800-square-foot office lease renewal at 2816 Shamrock Ave. in Fort Worth. According to LoopNet Inc., the building was constructed in 1972, renovated in 2008 and totals 16,000 square feet. Jake Neal and Blake Lloyd of Holt Lunsford represented the tenant, San Jose Cattle Co., in the lease negotiations. The name and representative of the landlord were not disclosed.
FARMINGTON, N.H. — Marcus & Millichap has brokered the sale of Farmington Self Storage, a 35-unit facility located near the New Hampshire-Maine border. The facility was built on 3.3 acres in 1995 and totals 7,647 net rentable square feet. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer, which was also undisclosed, plans to expand the facility by about 14,000 net rentable square feet. Occupancy was 100 percent at the time of sale.
PHILADELPHIA — Walker & Dunlop Inc. has arranged $40 million in limited partner equity and $135 million in construction financing for 5000 Richmond Street, a 750,000-square-foot, last-mile distribution facility in Philadelphia. The project will include two Class A buildings each with clear heights of 40 feet, a total of 112 loading dock doors, 206 trailer parking stalls and 759 car parking stalls. The site is within a Qualified Opportunity Zone and benefits from a long-term tax abatement from the city. The development will be situated six miles from Center City and offer immediate access to I-95, I-276 and I-476, which connect to New York City and Washington, D.C. Vacancy in the metro Philadelphia industrial market ticked up slightly in the first quarter to 4.4 percent, according to CBRE. But the market remains undersupplied, leading rents to gain upward momentum, states the brokerage. Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Mo Beler, Michael Diaz and Michael Ianno of Walker & Dunlop represented the borrower, DH Property Holdings LLC (DHPH). Barings provided the construction financing. “This multi-year effort began with our team sourcing limited partner capital to help DHPH acquire the land in the depths of COVID, and culminated in a …
DELRAY BEACH, FLA. — PEBB Enterprises and Banyan Development have started construction on Atlantic II, a 10-acre mixed-use project located at 8778 W. Atlantic Ave. in Delray Beach. Upon completion, which is scheduled for mid-2024, the development will feature a 10,000-square-foot, multi-tenant retail building, 100,000 square feet of self-storage space and a car wash outparcel. The outparcel is currently under contract for sale, and Paradise Grills has signed a lease to occupy 6,000 square feet in the retail building. Liberty Investment Properties, which develops self-storage properties, is partnering with the joint venture on the development.
CARROLLTON, TEXAS — Locally based investment and development firm Cawley Partners has purchased CP Frankford Trade Center, a 187,424-square-foot industrial property in the northern Dallas metro of Carrollton. At the time of sale, the property was fully leased to cosmetics provider Mary Kay, which has been a tenant since the facility was constructed in 2003. Jim Carpenter, Jud Clements, Robby Rieke, Taylor Starnes, Madeleine Supplee and Trevor Berry of Cushman & Wakefield represented the undisclosed seller in the transaction. The sales price was also not disclosed.
ENNIS, TEXAS — LanCarte Commercial, an investment and brokerage firm based in Fort Worth, has arranged the sale of a 143,596-square-foot industrial property in Ennis, located south of the metroplex. According to LoopNet Inc., the single-tenant property at 2708 NE Main St. was built on 8.9 acres in 1969, renovated in 2010 and features 30-foot clear heights. Sarah LanCarte, Parker LanCarte and Jenny Carlstrom of LanCarte Commercial represented the seller in the transaction. Justin Rubel of Converd Commercial represented the out-of-state buyer. Both parties requested anonymity.
DALLAS — Curtis Specialized Moving & Storage LLC has signed a 98,132-square-foot industrial lease renewal and expansion at 460 W. Mockingbird Lane in Dallas. The tenant is taking an additional 5,625 square feet. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as GKI Industrial Dallas LLC, in the lease negotiations. David Easterling of CBRE represented the tenant.
GARLAND, TEXAS — Roof Experts has acquired a 17,165-square-foot industrial flex property in Garland, a northeastern suburb of Dallas. According to LoopNet Inc., the property at 601 N. 1st St. was built in 1970 and features a 14-foot clear height. Jeff McVaney of Partners Real Estate represented Roof Experts in the transaction. Chas Lester of TIG Real Estate Services represented the undisclosed seller.
CARLSBAD, CALIF. — BKM Capital Partners has completed the acquisition of Commerce Carlsbad, an eight-building industrial park in Carlsbad. The property, now named Pacific Coast Industrial Center, offers 129,928 square feet of space in 62 small-bay units. BKM plans to make significant improvements to the park and reduce the office space to meet market demands. With high demand and limited availability in the area, BKM aims to achieve full occupancy and market rates in the future. Cushman and Wakefield’s Brad Tecca facilitated the transaction as a representative for the seller. BKM represented itself in the deal. The price was not disclosed.
LOVELAND, COLO. — Tepuy Properties has sold a 28,396-square-foot office/industrial space in Loveland for $4.7 million. The building, situated off highway 287, offers versatile spaces suitable for different businesses. The property, originally purchased by Tepuy in 2017, is fully occupied. The buyer was Wing Seven Capital LLC. The sale of this property allows Tepuy to reposition another asset in its portfolio.