Industrial

Stonemont Financial to Develop 903,200 SF Industrial Park in Locust Grove, Georgia

by John Nelson January 5, 2023

LOCUST GROVE, GA. — Stonemont Financial Group has purchased an infill, 113-acre site in Locust Grove with plans to develop a 903,200-square-foot industrial park. The development will break ground in the first quarter, with an expected completion of first-quarter 2024. Called Stonemont Park 75 South, the development will include three rear-load speculative warehouses ranging in sizes from 124,800 square feet to 538,720 square feet. Clear heights will vary from 32 feet to 40 feet, and the property will also include 316 trailer parking stalls and 612 car parking stalls, as well as 2,000 linear feet of frontage along I-75. Stonemont Park 75 South will sit along Highway 42 within Atlanta’s I-75 South industrial submarket. The design-build team will include Ware Malcomb (architect), Eberly & Associates (civil engineer) and Alston Construction (general contractor). Wilson Hull & Neal will serve as the leasing agent for the park on behalf of Stonemont Financial.

January 5, 2023

Acquisitions Industrial Nevada Western

RealComm Advisors Brokers Sale of 12,000 SF Industrial Building in Las Vegas

by Amy Works January 5, 2023

LAS VEGAS — RealComm Advisors has arranged the sale of an industrial building located at 3711 Regulus Ave. in Las Vegas. SWE Enterprises sold the 12,000-square-foot asset to FGM Fund for $3.1 million. Greg Pancirov and Paul Hoyt of RealComm Advisors represented the seller in the deal.

January 5, 2023

Development Industrial Self-Storage Texas

Bakke, Batson-Cook Break Ground on 802-Unit Self-Storage Facility in McAllen, Texas

by Taylor Williams January 4, 2023

MCALLEN, TEXAS — A partnership between San Antonio-based Bakke Development Corp. and Atlanta-based Batson-Cook Development Co. has broken ground on an 802-unit self-storage facility in the Rio Grande Valley city of McAllen. Designed by Alamo Architects and built by Independent Contractors Inc., SharyBak Storage will be a three-story building that will sit on two acres at 4901 E. Expressway 83. Frost Bank provided construction financing for the project, which is slated for a first-quarter 2024 completion. The development follows the partnership’s start of construction on a 781-unit self-storage facility in McAllen earlier this year.

January 4, 2023

Development Industrial Loans Self-Storage Texas

Cronheim Mortgage Arranges $12.9M Construction Loan for El Paso Self-Storage Project

by Taylor Williams January 4, 2023

EL PASO, TEXAS — New Jersey-based Cronheim Mortgage has arranged a $12.9 million construction loan for a self-storage project in El Paso. The facility will span 151,000 net rentable square feet across approximately 1,200 units with both climate- and non-climate-controlled space. The borrower and developer, Verturo Interests, will operate the facility under its Just A Closet brand. David Poncia of Cronheim Mortgage originated the financing, which was structured with a fixed interest rate and a 75 percent loan-to-cost ratio, through a local bank. Completion is slate for the fourth quarter.

January 4, 2023

Acquisitions California Industrial Office Western

Newmark Negotiates $37M Sale of Office, Industrial Campus in Burbank, California

by Amy Works January 4, 2023

BURBANK, CALIF. — Newmark has arranged the sale of 2777 North Ontario Street, an office and industrial campus in Burbank. A joint venture between Washington Capital Management, on behalf of its client, and SSV Properties sold the asset to Montana Avenue Capital for $37 million. Kevin Shannon, Ken White, Rob Hannan, Laura Stumm and Michael Kolcum of Newmark represented the seller in the transaction. Totaling 127,140 square feet, the two-story office and industrial campus is 71 percent leased to entertainment and media-related companies. Eikon, a post-production firm, occupies 79,312 square feet in the office component, while Iron Mountain occupies 47,828 square feet of the industrial space. The campus recently underwent a $7 million renovation, including a revitalized common area, updated HVAC and MEP systems, a seismic retrofit, remodeled bathrooms, resurfaced parking, operable windows and skylights, and new landscaping and hardscaping, as well as revitalized branding and color scheme.

January 4, 2023

Acquisitions California Development Industrial Western

Seefried Properties, USAA Buy 19 Acres for Logistics Center Development in Tracy, California

by Amy Works January 4, 2023

TRACY, CALIF. — Seefried Partners and USAA Real Estate have acquired a 19-acre site at the northwest corner of Grant Line Road and Chrisman Road for the development of a distribution warehouse. Construction for the speculative, 335,157-square-foot building is slated to begin in fourth-quarter 2023. The building will feature ample auto and trailer parking, 36-foot clear heights, ESFR sprinklers, and LED warehouse and site lighting that meets the needs of modern industrial users. Mike Goldstein and John Steinbuch of Colliers represented the development partners in the land transaction and will handle leasing efforts for the project. HPA Architecture is serving as project architect and Kier & Wright is the civil engineer.

January 4, 2023

Acquisitions Industrial Kansas Midwest

MAG Capital Partners Acquires 216,000 SF Kansas Industrial Property in Sale-Leaseback

by Kristin Harlow January 4, 2023

CHANUTE, KAN. — In a sale-leaseback transaction, MAG Capital Partners LLC has acquired a nearly 216,000-square-foot industrial property in Chanute, a city in eastern Kansas. The sales price was undisclosed. Located at 1700 S. Washington Ave., the 47-acre property features rail access with roughly 7,600 feet of track. Gary Glatter of Cresa represented the seller, Babcock & Wilcox Enterprises Inc. Founded by Dax Mitchell and Andrew Gi, Dallas-based MAG Capital Partners is focused on industrial real estate.

January 4, 2023

Acquisitions Georgia Industrial Southeast

Brennan, Global Gate Purchase 522,410 SF Industrial Portfolio in Dalton, Georgia

by John Nelson January 4, 2023

DALTON, GA. — A joint venture between Brennan Investment Group LLC and Global Gate Capital has purchased Greenpoint Industrial Park Buildings 1-3, a portfolio of newly built industrial assets in the northwest Atlanta suburb of Dalton totaling 522,410 square feet. An entity doing business as Dossche Holdings LLC sold the portfolio for an undisclosed price. Dennis Mitchell, Britton Burdette, Matt Wirth, Mitchell Townsend and Bo Osgood of JLL represented the seller in the transaction. Completed in 2022, the buildings were 100 percent preleased during construction to The Recreational Group, which designs, manufactures and installs recreational surfacing products, including synthetic turf and composite modular tile. Situated 24 miles from Appalachian Regional Port, the three-property portfolio along Duckworth Road makes up the first phase of the master-planned Greenpoint Industrial Park, the second phase of which will add an additional 1.2 million square feet. Austin Kriz and Tom Cromartie of JLL handle leasing at the park and led efforts to finalize the stabilization of Phase I.

January 4, 2023

Logistics-Center-at-I-95-Jackson-New-Jersey

Acquisitions Industrial New Jersey Northeast

Cushman & Wakefield Brokers Sale of 1 MSF Industrial Facility in Jackson Township, New Jersey

by Taylor Williams January 3, 2023

JACKSON TOWNSHIP, N.J. — Cushman & Wakefield has brokered the sale of an approximately 1 million-square-foot industrial facility located at 515 Monmouth Road in Jackson Township, about 30 miles east of Trenton. The newly constructed complex comprises one cross-dock and one rear-load building that total 617,452 and 383,092 square feet, respectively. Building features include clear heights of 40 feet, 185-foot truck court depths, 713 car parking spaces and 181 trailer parking stalls. Gary Gabriel, Kyle Schmidt, David Bernhaut and Seth Zuidema of Cushman & Wakefield represented the seller, a partnership between Active Acquisitions and Stonecutter Capital, in the transaction. The team also procured Brookfield Properties as the buyer.

January 3, 2023

Industrial Leasing Activity New Jersey Northeast

I-FE Apparel Signs 36,165 SF Industrial Lease Renewal in South Hackensack, New Jersey

by Taylor Williams January 3, 2023

SOUTH HACKENSACK, N.J. — I-FE Apparel, the company behind clothing brands such as PJ Mark and Bleecker & Mercer, has signed a 36,165-square-foot industrial lease renewal in South Hackensack, located outside of Manhattan in Northern New Jersey. Stephen Jennings represented the landlord, Alfred Sanzari Enterprises, in the lease negotiations on an internal basis. The representative of the tenant was not disclosed.

January 3, 2023

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