Industrial

Beacon Partners Breaks Ground on 511,000 SF Industrial Project in Metro Raleigh

by John Nelson April 12, 2023

KNIGHTDALE, N.C. — Beacon Partners has broken ground on Knightdale Gateway, a 511,000-square-foot industrial park about 15 miles east of Raleigh in Wake County. Slated for completion in the second quarter of 2024, the project will feature two Class A buildings with 36-foot clear heights. The assets will include a 221,363-square-foot building anchored by the new 195,056-square-foot headquarters facility for Kitchen Cabinet Distributors (KCD) and a 289,632-square-foot building with frontage along U.S. Highway 64. Al Williams and Michael Morgan of JLL represented KCD in the lease transaction, and Tim Robertson with Beacon Partners represented the landlord internally. Williams, along with JLL colleague Matt Winters, will handle the leasing assignment for the remaining space at Knightdale Gateway. The design-build team includes general contractor Choate Construction, Merriman Schmitt Architects and Advanced Civil Design. Fifth Third Bank is providing an undisclosed amount of construction financing to Beacon Partners for the project.

April 12, 2023

Development Florida Industrial Southeast

Joint Venture to Develop 108,554 SF Cold Storage Facility in Tampa’s Ybor City Neighborhood

by John Nelson April 12, 2023

TAMPA, FLA. — Sansone Group, Mandich Group and BentallGreenOak have formed a joint venture to develop and operate a new 108,554-square-foot cold storage facility in Tampa’s Ybor City neighborhood. The rail-served facility will be situated less than three miles from Port Tampa and the CSX Intermodal Tampa Terminal, as well as 12 miles from Tampa International Airport. Tippmann Construction is the general contractor for the project, and locally based Stifel Bank provided an undisclosed amount of construction financing to the developers. Scott Delphey and Matthew Delphey of Food Properties Group, along with Lisa Ross and Trey Carswell of Cushman & Wakefield, will lease the facility on behalf of the ownership group.

April 12, 2023

Acquisitions Industrial Kentucky Southeast

MAG Capital Partners Buys 75,469 SF Industrial Facility in Carrollton, Kentucky in Sale-Leaseback Transaction

by John Nelson April 12, 2023

CARROLLTON, KY. — MAG Capital Partners LLC has acquired a 75,469-square-foot industrial facility located at 3356 U.S. Highway 42 E in Carrollton. The Dallas-based investment firm purchased the asset in a sale-leaseback with the tenant, DRC Industries, a regional converter and distributor of paper products and other packaging materials. Forest Bender of Marcus & Millichap represented the seller in the transaction, the sales price of which was not disclosed. Built in 1992 along the Ohio River, the warehouse has three drive-in doors, nine docks and 20-foot clear heights. The property is proximate to DRC’s production facility located where the Ohio and Kentucky rivers meet.

April 12, 2023

Arizona Industrial Leasing Activity Western

Chef’s Warehouse Signs 46,339 SF Cold Storage Lease in Phoenix

by Jeff Shaw April 12, 2023

PHOENIX — The Chef’s Warehouse West Coast LLC has signed a long-term lease for 46,339 square feet at Reywest Commerce Park in Phoenix. The space is located at 3717 W. Washington St. The lease is valued at $8.5 million. The Chef’s Warehouse specializes in specialty foods, supplies and ingredients for commercial establishments. The supplier is moving out of a smaller warehouse in Tempe. Reywest Commerce Park was built in 1991 and renovated in 2012. It features cold storage warehousing with cold loading dock and a large secure truck court. Phil Haenel of Cushman & Wakefield represented he landlord, CPT Condor Washington LLC. NAI Horizon’s Isy Sonabend and Drew Eisen represented Chef’s Warehouse in the lease transaction.

April 12, 2023

Acquisitions Industrial Midwest Ohio Self-Storage

Marcus & Millichap Negotiates Sale of 148-Unit Self-Storage Facility in Akron, Ohio

by Kristin Harlow April 12, 2023

AKRON, OHIO — Marcus & Millichap has negotiated the sale of Premier Storage of Akron, a self-storage facility in Akron, for an undisclosed price. Built in 1995, the property features 148 non-climate-controlled units and totals 21,200 net rentable square feet. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a limited liability company. Buyer information was not provided.

April 12, 2023

Acquisitions Florida Industrial Southeast

JLL Arranges Sale of 464,400 SF Distribution Center in Auburndale, Florida

by John Nelson April 11, 2023

AUBURNDALE, FLA. — JLL has arranged the sale of Building 100, a 464,000-square-foot, cross-dock distribution facility located at Pace Logistics Center in Auburndale. The seller, Intersect Development Group, delivered the property earlier this year. The buyer and sales price were not disclosed. Luis Castillo, Britton Burdette, Cody Brais and Taylor Osborne of JLL represented the seller in the transaction. Paul Spellman, Taylor Allison and Emma Buch of JLL arranged an undisclosed amount of acquisition financing on behalf of the buyer. Located on a 30-acre site at 1234 Pace Road, Building 100 features 40-foot clear heights, a 60-foot speed bay, dock levelers and a 185- to 190-foot truck court.

April 11, 2023

Industrial Leasing Activity Texas

MTU Maintenance to Open 430,000 SF Industrial Facility in Fort Worth

by Taylor Williams April 11, 2023

FORT WORTH, TEXAS — MTU Maintenance Dallas Inc., a provider of aviation repair services and a division of German manufacturer MTU Aero Engines, will open a 430,000-square-foot industrial facility in Fort Worth. The company will relocate from nearby Grapevine to a climate-controlled facility at Perot Field Fort Worth Alliance Airport during the second quarter. Paul Reitz of Reitz Realty Group represented MTU Maintenance in the deal. Hillwood owns the facility, which is approximately 10 times bigger than MTU Maintenance’s current space.

April 11, 2023

Acquisitions California Industrial Western

Vertical Ventures Buys 232,863 SF Rose Canyon Business Park in Central San Diego

by Jeff Shaw April 11, 2023

SAN DIEGO — Vertical Ventures has purchased a 232,863-square-foot industrial park in Central San Diego. The multi-tenant park is located at 4901- 4907 Morena Blvd., west of the Clairemont submarket. Known as Rose Canyon Business Park, the property’s 15 buildings are spread across 38.1 acres. The asset was built in the late 1970s through the 1980s, and has recently undergone external renovations. The property is 99.5 percent occupied and offers suites ranging from 500 to 5,000 square feet. Phillip Linton of the CBRE Capital Markets Division in San Diego represented the buyer, while Cushman & Wakefield represented the seller.

April 11, 2023

Acquisitions California Industrial Western

Rexford Industrial Sells Industrial Building in Van Nuys, California for $17M

by Jeff Shaw April 11, 2023

VAN NUYS, CALIF. — Rexford Industrial Realty has sold a 48,394-square-foot, multi-tenant industrial building in Van Nuys for $17 million. The buyer was Orion Business Park LLC. The building is located at 8101-8117 Orion Ave. in the San Fernando Valley. Built in 1978, it consists of 29 tenant spaces ranging from 1,000 to 4,000 square feet. The building features 13-foot clear height ceilings and 25 ground-level loading docks. The building was about 93 percent leased at the close of escrow. The new owner intends to lease up the remaining vacancy and hold the asset as a long-term investment. Chris Jackson, Todd Lorber and Tim Foutz with NAI Capital Commercial’s Investment Services Group represented Rexford in the transaction.

April 11, 2023

Industrial Leasing Activity Texas

Partners Real Estate Negotiates 54,000 SF Industrial Lease in East Houston

by Taylor Williams April 11, 2023

HOUSTON — Partners Real Estate has negotiated a 54,000-square-foot industrial lease at 10620 Needham Road in East Houston. According to LoopNet Inc., the property was originally built in 1978. Zane Carman and Clay Pritchett of Partners represented the undisclosed landlord in the negotiations for the full-building lease. The representative of the tenant, oilfield services firm Meyer Services Co., was not disclosed.

April 11, 2023

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