VALLEY COTTAGE, N.Y. — Walker & Dunlop has arranged a $37.7 million construction loan for Lincoln Logistics, a 220,000-square-foot industrial project in Valley Cottage, about 25 miles north of New York City. The property will feature a clear height of 36 feet, 55 dock doors and 123 parking spaces. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Mo Beler arranged the debt on behalf of the borrower, a partnership between Lincoln Equities Group and PCCP. The direct lender was not disclosed.
FORT WALTON BEACH, FLA. — U-Haul has completed the development of a new, 800-unit self-storage facility in Fort Walton Beach dubbed U-Haul Moving & Storage of the Emerald Coast. Located at 200 Irwin Ave., the facility comprises 138,000 square feet. U-Haul acquired the property, which was originally constructed in 1971 and formerly housed a J.M. Fields department store and Kmart, in 2019. The acquisition and adaptive reuse of the site aligns with U-Haul’s corporate sustainability initiatives, and the company worked with the Audubon Society to maintain a bird-friendly rooftop for the threatened Least Turn and Black Skimmer species.
DENTON, TEXAS — Marcus & Millichap has negotiated the sale of Stuff Hotel, a 440-unit self-storage facility located in the North Texas city of Denton. The property was built in 1985 and spans 56,310 square feet of net rentable of space. Brandon Karr, Danny Cunningham and Jon Danklefs of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Danklefs also procured the buyer, another limited liability company. Both parties requested anonymity.
DALLAS — Seattle-based investment firm Lake Washington Partners has purchased Tradepoint 20/45, a 418,000-square-foot industrial facility in South Dallas. Built in 2022, the property features 36-foot clear heights, 78 dock doors, two ramps, 124 car parking spaces and 107 trailer stalls. Dustin Volz, Stephen Bailey, Adam Citron, Dom Espinosa and Zach Riebe of JLL represented the seller, a partnership between Blumenfeld Development Group and Declaration Partners, in the transaction.
NEW YORK CITY — Walker & Dunlop has arranged a $100 million loan for the refinancing of JFK Logistics Center, a 423,000-square-foot industrial property in Queens that is fully leased to Amazon. The multi-story facility sits on 10.7 acres and features a clear height of 36 feet, 16 loading positions and two floors of parking. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Mo Beler arranged the debt on behalf of the borrower, a partnership between Wildflower Ltd. and Amstar. J.P. Morgan Investment Management provided the loan.
HENDERSON, NEV. — LM Construction Co. (LMCC) has broken ground on Nancy J Industrial Park, an eight-building industrial project in Henderson. Each of the eight 40,998-square-foot buildings will offer four nine-foot by 10-foot dock loading doors, two 12-foot by 14-foot grade level doors, 24-foot clear heights and rear loading access. Additionally, each building is divisible to two occupants. Las Vegas-based LMCC is the design-build general contractor for the project. The first two buildings are slated for completion in January 2024. Larry Monkarsh, owner of LMCC and partner in Brass Cap Development, is also acting as the owner/developer of the project, developing as Red Label LV LLC. Chris Lexis and Joe Leavitt of Avison Young | Las Vegas are marketing the project for lease or sale.
PHOENIX — Stos Partners has purchased a freestanding industrial building located at 1002 S. 54th Ave. in Phoenix. A national window manufacturer and distributor bought the property for $10.9 million. Built in 1992, the vacant asset features 83,889 square feet of warehouse and distribution space and 7,000 square feet of office space. Situated on 4.2 acres, the building offers 25-foot warehouse clearance, a new roof, 17 dock-high doors, two drive-in, ground-level doors, HVAC in the warehouse space and an EVAP cooling system throughout the warehouse area, both powered by more than 2,500 amps of 277/440-volt power. Stos plans to upgrade the property to prepare the space for lease. Anna Josephson and Bo Mill of KBC Advisors represented Stos in the transaction. Phil Haenel, Mike Haenel and Andy Markham of Cushman & Wakefield are marketing the asset for lease.
GOODYEAR, ARIZ. — Phoenix-based LPC Desert West and Scottsdale-based Harvard Investments have broken ground on Phase I of Goodyear AirPark, located on 565 acres adjacent to the Phoenix-Goodyear Airport in Goodyear, approximately 20 miles west of Phoenix. Phase I of the project comprises 1.6 million square feet and six buildings ranging from 81,000 to 775,000 square feet. At build-out, Goodyear AirPark is expected to total 7 million square feet and up to 20 buildings. The buildings will offer up to 40-foot clear heights and multiple points of ingress and egress for aircraft, as well as truck courts and vehicle parking. Situated approximately three miles south of Interstate 10, the site is generally bounded by Estrella Parkway, Bullard Avenue and State Route MC 85. The property is also approximately 10 minutes from the Goodyear Ballpark, where the Cincinnati Reds and Cleveland Guardians train during spring. Additionally, the AirPark is located adjacent to a dark fiber line, offering extremely strong internet access for communication and data center development. Global neighbors to the site include Microsoft, Amazon, UPS, Walmart, Boeing, SubZero, Daimler-Benz, XPO Logistics, Red Bull and Aldi. Cerberus Capital Management is the equity partner for LPC and Harvard on the project. Butler Design …
RICHARDSON, TEXAS — Chicago-based developer Dayton Street Partners has acquired a 65-acre manufacturing and distribution campus in the northeastern Dallas suburb of Richardson with plans to expand the site. The undisclosed seller has agreed to lease back 10 percent of the space at the 845,000-square-foot campus, and electronics manufacturer Celestica has leased 672,588 square feet. The seller also vacated the remaining 90,000-square-foot building, at which Dayton Street has launched a capital improvement program. The expansion will feature a 240,000-square-foot facility on a nine-acre parcel that is expected to be complete in early 2024. Larry Serota, Mike Hardage and Nora Hogan of Transwestern represented the seller in the transaction.
AMARILLO, TEXAS — Marcus & Millichap has arranged the sale of Camp Lane Storage, a 197-unit facility located in the northwest Texas city of Amarillo. The property 24,440 spans square feet of net rentable, non-climate-controlled space and also includes 20 outdoor parking spaces. Arol Horkavy and Jon Danklefs of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity.