Industrial

Stos Partners Divests of $26.5M Manufacturing Building in Tustin, California

by Amy Works August 10, 2023

TUSTIN, CALIF. — Stos Partners has sold a high-tech manufacturing property in Tustin to KTI Hydraulics for $26.5 million. Stos Partners originally acquired the asset in December 2021 for $19.2 million. The company implemented a value-add strategy and capital improvement program, including a new roof, parking lot, exterior painting, landscaping and interior improvements, at the 71,616-square-foot property. The property is located at 1311 Valencia Ave. within the Irvine Business Complex. The building features excess yard area, ample parking ratio, high-end cleanroom space with a mix of office and warehouse space, and on-site electric vehicle charging stations. Nick Valasquez and Michael Hartel of Colliers, along with Ross Bournce of CBRE, represented Stos Partners. Xavier Nolasco and Steve Wagner of JLL represented the buyer in the transaction.

August 10, 2023

Acquisitions Industrial Iowa Midwest

Sealy & Co. Acquires 265,700 SF Altus Commerce Center in Altoona, Iowa

by Kristin Harlow August 10, 2023

ALTOONA, IOWA — Sealy & Co. has acquired the newly constructed Altus Commerce Center in Altoona, a northeast suburb of Des Moines. The purchase price was undisclosed. The industrial facility totals 265,700 square feet and features a clear height of 32 feet, 135-foot truck court, 26 dock-high doors and two drive-in doors. Jason Gandy and Davis Gibbs of Sealy led the transaction. Mark Long and John Hassler of Newmark represented the seller, VanTrust Real Estate. In honor of VanTrust, Sealy is making a significant contribution to the Marine Corps Scholarship Foundation to commemorate the transaction.

August 10, 2023

Acquisitions Development Industrial Northeast Pennsylvania

Cushman & Wakefield Brokers $13.5M Sale of Industrial Development Site in York, Pennsylvania

by Taylor Williams August 10, 2023

YORK, PA. — Cushman & Wakefield has brokered the $13.5 million sale of an industrial development site in York. The site, known as The Expressway Commerce Park, is fully approved for the development of two buildings totaling 673,920 square feet. Building A will total 403,000 square feet and feature 405 auto stalls, 77 trailer stalls, 74 dock doors and two drive-in doors. Building B will total 270,920 square feet and feature 269 auto stalls, 72 trailer stalls, 43 dock doors and two drive-in doors. Gerry Blinebury and Collin Potter of Cushman & Wakefield represented the seller, Maple Press, in the transaction. The buyer was MRP Industrial. The sale included a subdivision from the Maple Press manufacturing facility that will remain in operation.

August 10, 2023

Acquisitions Industrial New Jersey Northeast

Fastener Dimensions Acquires 60,000 SF Industrial Building in Pennsauken, New Jersey

by Taylor Williams August 10, 2023

PENNSAUKEN, N.J. — Fastener Dimensions, a manufacturer and distributor of precision bolts for the aerospace industry, has acquired a 60,000-square-foot industrial building in the Southern New Jersey community of Pennsauken. The sales price was $4.2 million. Fastener Dimensions will continue to occupy the freestanding building, where it has operated out of for the past several years. Jonathan Klear of NAI Mertz brokered the deal. The seller was not disclosed.

August 10, 2023

Acquisitions Arizona Industrial Western

Westcore Buys Hatcher Industrial Park in Glendale, Arizona for $92.7M

by Amy Works August 9, 2023

GLENDALE, ARIZ. — Westcore has completed a $92.7 million acquisition of the 906,125-square-foot Hatcher Industrial Park from Ryan Cos. US. Westcore partnered with Ryan one year ago for the development of the property, and this transaction marks the completion of the project and sale. Located in Glendale, the two-building industrial campus includes a 519,167-square-foot facility at 15101 W. Hatcher Road and a 386,958-square-foot asset at 15151 W. Hatcher Road. The warehouses feature 40-foot clear heights, ESFR sprinklers, eight grade-level doors, 167 dock-high doors and ample parking, including electric vehicle parking. Westcore is building out speculative office suites, equipping the buildings with full HVAC, LED warehouse lighting and dock packages with 40,000-pound-capacity levelers. Ryan Cos. served as the developer and builder for Hatcher Industrial Park and Ryan A+E Inc. served as architect. Tony Lydon, Marc Hertzberg, Riley Gilbert and Kelly Royle of JLL assisted with the transaction and are managing the leasing efforts for the property.

August 9, 2023

California Development Industrial Western

Rockefeller Group to Develop 259,000 SF Distribution Center in Perris, California

by Amy Works August 9, 2023

PERRIS, CALIF. — Rockefeller Group has completed the $13.4 million acquisition of a 14-acre parcel in Perris for the development of Patterson Commerce Center, a 259,000-square-foot distribution center. The project will be located adjacent to Optimus Logistics Center, a 1.4 million-square-foot, two-building logistics center. Full construction is slated to commence in September. The building will feature 36-foot clear heights, 56-foot by 60-foot column spacing, 145 parking spaces and a 185-foot to 240-foot truck court with 59 trailer stalls. Completion of Patterson Commerce Center is scheduled for summer 2024. The project team includes HPA Architects, Huitt-Zollars and RM Dalton. Jo McKay, Michael McKay and Michael Fine of Lee & Associates represented the Rockefeller Group on the land purchase and will oversee leasing of the project.

August 9, 2023

Corporate-Drive-Industrial-Complex-Selma

Development Industrial Texas

Ackerman & Co. Underway on 511,000 SF Industrial Project in Selma, Texas

by Taylor Williams August 9, 2023

SELMA, TEXAS — Atlanta-based developer Ackerman & Co. is underway on construction of Corporate Drive Industrial Complex, a 511,000-square-foot industrial project in Selma, a northeastern suburb of San Antonio. The development will consist of a 274,000-square-foot facility and 237,000-square-foot structure on a 32-acre site. The rear-load buildings will feature 32- to 36-foot clear heights and combined parking for 647 cars and 59 trailers. Ackerman is developing the project in partnership with Baltisse US Inc. and is targeting a first-quarter 2024 delivery. Partners Real Estate has been tapped as the leasing agent.

August 9, 2023

Acquisitions Illinois Industrial Midwest

Apex Industrial Automation Acquires 14,400 SF Building in Bensenville, Illinois

by Kristin Harlow August 9, 2023

BENSENVILLE, ILL. — Apex Industrial Automation, an industrial equipment and motor supplier, has acquired a 14,400-square-foot industrial building in the Chicago suburb of Bensenville for an undisclosed price. Apex will occupy over half of the building, which is located at 222-224 Williams St. The remainder of the building will be occupied by an existing tenant. Jerry Sullivan of DarwinPW Realty/CORFAC International represented the buyer, while Robert DeSalvo of Sierra Realty represented the seller, a private trust.

August 9, 2023

Development Industrial New York Northeast Self-Storage

Davis Cos., Highland Development Complete 6,000-Unit Self-Storage Facility in Manhattan

by Taylor Williams August 9, 2023

NEW YORK CITY — A joint venture between The Davis Cos., a Boston-based development and investment firm, and Highland Development Ventures has completed a 6,000-unit self-storage facility at 155 West 29th St. in Manhattan’s Chelsea neighborhood. Public Storage will operate the facility, which rises 18 stories and spans roughly 180,000 net rentable square feet. Project partners included Mancini Duffy (architect of record), Cauldwell Wingate Construction (general contractor), GEA Consulting Engineers (mechanical, electrical, plumbing and fire protection engineer) and McNamara Salvia (structural engineer).

August 9, 2023

Industrial Leasing Activity New Jersey Northeast

Cushman & Wakefield Negotiates 67,663 SF Industrial Lease in Secaucus, New Jersey

by Taylor Williams August 9, 2023

SECAUCUS, N.J. — Cushman & Wakefield has negotiated a 67,663-square-foot industrial lease at 700 Penhorn Ave. in the Northern New Jersey community of Secaucus. The building spans 105,975 square feet and features a clear height of 35 feet, 120 parking spaces, six loading docks and one drive-in door. Chuck Fern, Thomas Tucci, Stephen Shoemaker, Torsten Thaler and Natalie Gorga of Cushman & Wakefield represented the landlord, Sinai Associates Inc., in the lease negotiations. The tenant is third-party logistics firm Advanced International Freight. The building is now fully leased.

August 9, 2023

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