BOSTON — Locally based investment firm Marcus Partners has sold a portfolio of six industrial buildings that total roughly 1 million square feet and are located throughout the greater Boston area. The sales price was $167 million. Three of the buildings are located in Franklin, and the other three are located in Sutton, Peabody and Avon. Chris Skeffington, Scott Dragos and Roy Sandeman of CBRE represented Marcus Partners in the transaction and procured the undisclosed buyer.
PHILADELPHIA — Locally based brokerage firm Roddy Inc. has negotiated an 11,000-square-foot industrial lease in northeast Philadelphia. The building at 10081 Sandmeyer Lane sits on 2.8 acres and totals 34,000 square feet. Sean Durkin of Roddy Inc. represented the tenant, Rhoads Industries, a provider of welding and custom fabrication services, in the lease negotiations. Jason Ostach of Binswanger represented the undisclosed landlord.
PEMBROKE PINES, FLA. — Cushman & Wakefield has brokered the $59.6 million sale of Bang Energy’s former warehouse and distribution center in Pembroke Pines, as well as an adjacent 23.2-acre parcel. Mike Davis, Dominic Montazemi, Rick Brugge, Rick Colon, Greg Miller and Mike Ciadella of Cushman & Wakefield represented the seller, entities doing business as Sheridan Real Estate Investment A LLC and Sheridan Real Estate Investment C LLC, in the transaction. Located at 20311 Sheridan St., the property includes a 224,560-square-foot building that once doubled as a manufacturing facility for Bang Energy’s energy drinks and the company’s corporate accounting office. The buyer, a new entity led by Summit Real Estate Group’s Arrowrock US Industrial Fund IV, is planning to overhaul the facility and is actively marketing the building for lease. The adjacent land, 13 acres of which are developable, is zoned for industrial ground-up development. Construction of an approximately 280,000-square-foot building on the property is anticipated to commence in the first quarter of 2024, with delivery slated for fourth-quarter 2024.
ZEELAND, MICH. — Marcus & Millichap has brokered the sale of Access Mini Storage, a self-storage facility totaling 96,715 rentable square feet in Zeeland, a city in western Michigan. The property at 3440 88th Ave. features 496 non-climate-controlled units and 38 outdoor parking spaces. Sean Delaney of Marcus & Millichap represented the buyer and seller, both of which were limited liability companies.
TOLLESON, ARIZ. — Westcore has completed the disposition of an industrial property located at 8590 W. Jefferson St. in Tolleson, approximately 10 miles west of Phoenix. Texas-based Stonelake Capital Partners acquired the asset for $8.3 million. Situated on 4.4 acres, the building features 37,587 square feet of industrial space. At the time of sale, the property was fully leased to a Utah-based wholesale plumbing, waterworks, irrigation and industrial piping distributer. Phil Haenel, Foster Bundy and Will Strong of Cushman & Wakefield represented the seller in the deal. Mike Haenel and Andy Markham, also of Cushman & Wakefield, provided leasing advisory.
ARVADA, COLO. — Marcus & Millichap has brokered the sale of an industrial building located at 5790 Lamar St. in Arvada, just northwest of Denver. A limited liability company sold the asset to an undisclosed buyer for $1.7 million. Riley Kilgore, Alyssa Tomback and Thimy Moraitis of Marcus & Millichap’s Denver office represented the seller in transaction. Situated on 0.5 acres, the 8,075-square-foot property features a fully fenced parking lot, one 12-foot drive-in door and three-phase power with 400 amps and 220 volts.
FRANKLIN, KY. — Bluegrass Supply Chain has completed a 100,000-square-foot expansion of its industrial facility located in Henderson Industrial Park in Franklin. Situated at 805 Garvin Lane and now totaling 200,000 square feet, the building was purchased in 2021 and originally comprised 100,000 square feet. The expansion will create 20 to 25 jobs, according to Shawn Hart, vice president of operations with Bluegrass Supply Chain.
TERRELL, TEXAS — Kansas City-based developer VanTrust Real Estate has acquired two industrial development sites totaling 60.4 acres in Terrell, an eastern suburb of Dallas. The company plans to develop two speculative buildings totaling 702,000 square feet. Building 1 will be a 196,560-square-foot, rear-load facility. Building 2 will total 505,440 square feet and feature a cross-dock configuration. Both buildings will be marketed to e-commerce and third-party logistics users alike. Demian Salmon of Stream Realty Partners represented the undisclosed seller in the land deal. A construction timeline was not disclosed.
SUGAR LAND, TEXAS — Marcus & Millichap has brokered the sale of Sugar Land RV/Boat & Self Storage, a facility located on the southwestern outskirts of Houston. Built on six acres in 1999, the property consists of 304 non-climate-controlled units, one warehouse/workshop space, eight covered parking spots and six outdoor parking spaces for a total of 95,942 net rentable square feet. Dave Knobler of Marcus & Millichap represented the seller, a private investor, in the transaction and procured the buyer, a New York-based limited liability company. Both parties requested anonymity.
DALLAS — Holt Lunsford Commercial has negotiated a 49,280-square-foot industrial lease renewal in West Dallas. Canon Shoults and Maddy Canty of Holt Lunsford represented the landlord, AEW Capital Management, in the lease negotiations. Jim Svidron with NAI Robert Lynn represented the tenant, Production & Rigging Resources Inc., which provides logistical services for the entertainment industry.