REBusinessOnline

Venture One Acquires 17,900 SF Industrial Building in Waukegan, Illinois

WAUKEGAN, ILL. — Venture One Real Estate has acquired a 17,900-square-foot industrial building located at 1161 S. Northpoint Blvd. in Waukegan for an undisclosed price. Constructed in 2000, the property was vacant at the time of acquisition. It features two exterior docks, one drive-in door, 2,476 square feet of office space and parking for 31 cars. Ralph Huszagh of JC Forney Realty Inc. represented the undisclosed seller and will be retained by Venture One to market the building for lease. …

Acquisitions, Illinois, Industrial, Midwest

Soaring Demand for Inland Empire Warehouse Space Brings Opportunities for Developers

By Richard Lee and J.C. Casillas, NAI Capital CommercialIn the fourth quarter of 2020, the Inland Empire industrial market continued to battle the effects of an economy that has so far spent three-fourths of the year under a COVID-19 shutdown. After dipping for several quarters, the average asking rent held steady at $0.72 triple net, down 6.5 percent from the fourth quarter of 2019. The vacancy rate nudged up 10 basis points from the previous quarter’s record low, down 90 basis points …

California, Industrial, Market Reports, Western, Western Market Reports

Sansone Group, Argos Capital Partners to Develop 245,000 SF Distribution Center in Port St. Lucie, Florida

PORT ST. LUCIE, FLA. — Sansone Group and Argos Capital Partners will develop Legacy Park at Tradition in Port St. Lucie. The distribution park will comprise 375 acres that will house eight industrial buildings and span 3.2 million square feet upon full buildout, which is slated for 2023. In December, the developers acquired the first piece of land for the project. The first building in the park will be a 245,000-square-foot, build-to-suit distribution center for an undisclosed tenant. St. …

Development, Florida, Industrial, Southeast

Goldman Investment Advisors Brokers $4.1M Sale of Self-Storage Property Near Memphis

WYNNE, ARK. — Goldman Investment Advisors has brokered the $4.1 million sale of Handy Rentals, a 96,455-square-foot self-storage property in Wynne. The property spans nine acres and is located at 1306 S. Falls Blvd., 49 miles west of downtown Memphis. Milwaukee-based Bank Five Nine provided acquisition financing to the buyer, Wynne Properties Group. Larry Goldman of Goldman Investment Advisors represented the undisclosed seller in the transaction. Goldman Investment Advisors is an affiliate …

Acquisitions, Arkansas, Industrial, Self-Storage, Southeast

ViaWest Group Acquires Insight Enterprises Office Portfolio in Tempe, Plans Industrial Redevelopment

TEMPE, ARIZ. — A joint venture partnership led by Phoenix-based ViaWest Group has purchased three real estate properties in Tempe from Insight Enterprises for $26.8 million. Phil Breidenback and Kathy Foster of Colliers International Arizona represented the seller and handled the transaction.The portfolio includes a 102,000-square-foot office building at 6280 S. Harl Ave., a 130,270-square-foot industrial/back office property at 910 W. Carver Ave. and an adjacent 56,240-square-foot office …

Acquisitions, Arizona, Development, Industrial, Office, Western

Westmount Realty Capital Sells 289,491 SF Industrial Building Occupied by FedEx in Columbus, Ohio

COLUMBUS, OHIO — Westmount Realty Capital LLC has sold a 289,491-square-foot industrial building occupied by FedEx Supply Chain Inc. in Columbus for an undisclosed price. The building is situated within the Rickenbacker Global Logistics Industrial Park. FedEx has occupied the property since September 2019. Westmount acquired the building in late 2018 as part of a 1.4 million-square-foot portfolio. Built in 1994, the industrial building sits on 14.3 acres along John Glenn Avenue. It features …

Acquisitions, Industrial, Midwest, Ohio

KKR Buys 263,606 SF Distribution Facility in Goodyear, Arizona

GOODYEAR, ARIZ. — KKR has purchased a newly constructed 263,606-square-foot industrial distribution and warehouse property in Goodyear for $43.1 million. Principals of Minneapolis-based Provident Real Estate Ventures, along with Merit Partners and Sunbelt Holdings, sold the 263,606-square-foot facility.Situated on more than 15 acres, the property features three points of ingress and egress, a fully air-conditioned warehouse, 36-foot clear heights, ample loading with 100 percent truck …

Acquisitions, Arizona, Industrial, Western

Huntington Industrial Partners Sells 468,300 SF Warehouse in Metro Dallas

LANCASTER, TEXAS — Colorado-based Huntington Industrial Partners has sold Park 20, a 468,300-square-foot warehouse located in the southern Dallas suburb of Lancaster. Built in 2017, the property offers immediate access to Interstates 35, 20 and 45 and was fully leased at the time of sale to pet products supplier PetMate. Building features include 32-foot clear heights, 99 overhead dock doors, an ESFR sprinkler system and 48 trailer parking stalls. Dustin Volz, Stephen Bailey and Zach Riebe of …

Acquisitions, Industrial, Texas

Colliers International Brokers $1.3M Sale of Industrial Property in Las Vegas

LAS VEGAS — Colliers International has arranged the sale of an industrial building located at 6676 Escondido St. in Las Vegas. Green Bean Battery acquired the property for $1.3 million.The asset features 6,059 square feet of industrial space. Brian Riffel and Tyler Jones of Colliers International represented the seller, Escondido Investments, in the

Acquisitions, Industrial, Nevada, Western

Marcus & Millichap Arranges Sale of 524-Unit Self-Storage Facility in Fresno, Texas

FRESNO, TEXAS — Marcus & Millichap has arranged the sale of Cajun Self Storage, a 524-unit facility in Fresno, located south of Houston. Built in 2005 and expanded in 2015, the facility spans 104,823 net rentable square feet across both climate- and non-climate-controlled units. Brian Kelly, Brett Hatcher, Gabriel Coe and Jack Newman of Marcus & Millichap represented the seller in the transaction. Kelly, Hatcher and Coe also procured the buyer. Both parties were limited liability …

Acquisitions, Industrial, Self-Storage, Texas
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