PHILADELPHIA — California-based SecureSpace Self Storage has opened a 120,260-square-foot facility at 2501 N. 15th St. in the Glenwood area of Philadelphia. The number of units was not disclosed. The facility will feature entirely climate-controlled space across multiple unit sizes and will add to SecureSpace’s two additional nearby developments and three operating stores in the greater Philadelphia area.
FEDERAL WAY, WASH. — MCA Realty has completed the sale of Spectrum Business Park, a six-building industrial campus in Federal Way, just northeast of Tacoma. A private investor purchased the asset for $13.7 million. Andy Miller and Matt McLennan of Kidder Mathews and Kyle Schipper of NAI Puget Sound Properties represented the seller, while Earney Velton of JSH Properties represented the buyer in the transaction. Built in 1978, Spectrum Business Park features 68,911 square feet of industrial space that was 100 percent leased at the time of sale. The park is located at 1620-1720 S. 341st Place. MCA Realty originally acquired the business park in September 2021 and spend $500,000 in capital improvements that included new paint, parking lot improvements, roof/gutter upgrades, interior improvements, electrical upgrades, landscaping and a new signage program. Spectrum Business Park is the fifth property sold within the MCA Realty Industrial Growth Fund.
MONROVIA, CALIF. — Positive Investments has completed the disposition of an office/industrial building, located at 222 E. Huntington Drive in Monrovia, a northeastern suburb of Los Angeles. An undisclosed buyer acquired the property for $25 million. Built in 1988 on 5.7 acres, the two-story, multi-tenant building features 122,000 square feet of office/flex space. The property features a two-story glass atrium entryway, newly remodeled lobby, landscaped grounds, electric car charging stations, ample parking and three roll-up loading doors. The buyer plans to occupy a portion of the asset. Andrew Berk of Avison Young represented the seller in the deal.
CONROE, TEXAS — Colliers has brokered the sale of a 43,200-square-foot, single-tenant industrial building in Conroe, about 40 miles north of Houston. The site spans 9.9 acres and offers immediate access to I-45. Michelle Soderberg of Colliers represented the seller, an entity doing business as JMBG Inc., in the transaction. Wade Nelson of Nelson Properties represented the buyer, Spring Glass & Mirror Ltd., which will also use the building as its new headquarters. The sales price was not disclosed.
FARMERS BRANCH, TEXAS — Multinational conglomerate Honeywell International has signed a 17,755-square-foot industrial lease in the northern Dallas metro of Farmers Branch. According to LoopNet Inc., the building at 12880 Valley Branch Lane was built in 1997, totals 75,502 square feet and features 24-foot clear heights. Nathan Denton and Adam Graham of Lee & Associates represented the landlord, GID Industrial, in the lease negotiations. Neil Schorr of Realty Insight Group represented Honeywell.
HAZELWOOD, MO. — IDI Distributors, an insulation distribution company, has signed a roughly 30,000-square-foot industrial lease at Hazelwood Business Park in suburban St. Louis. Industrial Commercial Properties owns the new business park, which is a redevelopment of the former St. Louis Mills Mall. Dan Lesinski and Billy Spence of Newmark Zimmer are the leasing agents for Hazelwood Business Park. The development can accommodate tenants ranging in size from 30,000 to 700,000 square feet.
WOODBRIDGE, N.J. — New Jersey-based Woodmont Industrial Partners has completed a 54,113-square-foot project in the Northern New Jersey community of Woodbridge. The building features a clear height of 32 feet, eight exterior dock doors, one drive-in door and build-to-suit office space. Woodmont has also secured a full-building lease with Indiana-based R.A.S. Logistics. Mindy Lissner, Chuck Fern, Jason Barton and David Gheriani of Cushman &. Wakefield represented Woodmont in the lease negotiations.
AGAWAM, MASS. — Marcus & Millichap has brokered the $2.8 million sale of a 37,650-square-foot industrial building in Agawam, located just south of Springfield in western Massachusetts. The building, which was fully occupied at the time of sale, sits on a 3.4-acre site and features five loading docks and 40 parking spaces. Harrison Klein of Marcus & Millichap represented the seller, a group of private investors, in the transaction. Tom Hovey and Eric Suffoletto of Atlantic Capital Partners represented the buyer, an individual/personal trust.
RINCON, GA. — Atlanta-based Core5 Industrial Partners plans to develop Effingham Business Center, a 121-acre industrial park situated in Rincon, a city in the Savannah market of Effingham County. The site is approximately 9.5 miles from Port of Savannah’s Garden City Terminal and 10 miles from Savannah/Hilton Head International Airport. The park will feature a 401,760-square-foot rear-load building, which will accommodate tenants 100,000 square feet and higher, and a 362,880-square-foot front-load building designed to accommodate tenants of 150,000 square feet and higher. Both buildings are being developed on a speculative basis and will feature 36-foot clear heights, automobile parking, office finishes, dock equipment, lighting and 185-foot truck courts. Delivery of both buildings is scheduled for the first quarter of 2025. CBRE’s Savannah office will handle leasing efforts on behalf of Core5 for both buildings.
APOPKA, FLA. — An affiliate of PGIM Real Estate has sold Northwest Distribution Center, a four-property, 646,436-square-foot industrial park in Apopka, a suburb of Orlando. New York-based Clarion Partners purchased the asset for an undisclosed price. Situated off State Road 429 and Ocoee Apopka Road, the portfolio was 85 percent leased at the time of sale. Buildings A and B at Northwest Distribution Center were built in 2008, and Buildings C and D were delivered in 2017. Jose Lobón, Frank Fallon, Trey Barry, David Murphy, Royce Rose and Alain Bonvecchio of CBRE represented the seller in the transaction.