Industrial

Marcus & Millichap Brokers Sale of Utah’s Largest Storage Facility in Cedar City

by Jeff Shaw June 6, 2023

CEDAR CITY, UTAH — A private equity group has sold Storage General Cedar, a 456,758-square-foot storage facility in Cedar City, for an undisclosed sum. Featuring 2,133 units and 456,758 total net rentable square feet, Storage General Cedar is the largest self-storage asset in Utah, according to Marcus & Millichap, which brokered the sale. The facility features electronic gate access, drive-up units with roll-up doors, wide drive aisles, RV/boat/trailer storage and parking, commercial shops available for rent, online rentals and unit management. The LeClaire-Schlosser Group of Marcus & Millichap represented the seller via Jordan Farrer of the firm’s Salt Lake City office and Adam Schlosser of the firm’s Denver office. The buyer and price were not disclosed.

June 6, 2023

Acquisitions California Industrial Western

DAUM Arranges Sale of Rusher Air Conditioning Headquarters in Torrance, California

by Jeff Shaw June 6, 2023

TORRANCE, CALIF. — DAUM Commercial Real Estate Services has arranged the move of Rusher Air Conditioning into a new headquarters in Torrance. Structured as a reverse exchange, the sale of the previous headquarters and purchase of a new one featured “a combined transaction value of $9.5 million,” according to DAUM. Michael Collins and Dustin Hullinger of DAUM’s Capital Markets Group, with the assistance of Brad Levin, arranged the transaction.

June 6, 2023

Development Illinois Industrial Midwest

Peak Construction Breaks Ground on 677,000 SF Industrial Build-to-Suit Project in Joliet, Illinois

by Kristin Harlow June 6, 2023

JOLIET, ILL. — Peak Construction Corp. has broken ground on a 677,000-square-foot industrial build-to-suit project within the Rock Run Crossings Business Park in Joliet. IDI Logistics is the developer and Ecolab is the tenant. Completion is slated for the second quarter of 2024. Ecolab is a sustainability company that offers water, hygiene and infection prevention solutions and services. The project team also includes architect Ware Malcomb and civil engineer Jacob & Hefner Associates Inc.

June 6, 2023

Acquisitions Industrial Texas

Cohen Asset Management Acquires 920,275 SF Logistics Facility in South Dallas

by Taylor Williams June 6, 2023

DALLAS — Southern California-based investment firm Cohen Asset Management has acquired DalParc Logistics Center Building 1, a 920,275-square-foot industrial property in South Dallas. The building was constructed in 2016 and serves as a fulfillment center for Amazon. Randy Baird, Jonathan Bryan, Ryan Thornton, Nathan Wynne and Eliza Bachhuber of CBRE represented the undisclosed seller in the transaction. The sales price was not disclosed.

June 6, 2023

Development Industrial Texas

Hoar Construction Breaks Ground on 328,000 SF Parking Garage at Sam Houston State University in Metro Houston

by Taylor Williams June 6, 2023

CONROE, TEXAS — General contractor Hoar Construction has broken ground on a 328,000-square-foot parking garage on the Sam Houston State University campus in Conroe, about 40 miles north of Houston. The garage, which will feature 983 spaces, is being constructed to accommodate students and faculty at the new health professions building, construction of which will begin next year. Kirksey Architecture designed the parking garage, which is slated for a summer 2024 delivery.

June 6, 2023

Acquisitions Industrial Texas

Partners Arranges Sale of 37,500 SF Industrial Property in Laredo, Texas

by Taylor Williams June 6, 2023

LAREDO, TEXAS — Partners Real Estate has arranged the sale of a 37,500-square-foot industrial property in the Rio Grande Valley city of Laredo. According to LoopNet Inc., the property at 14610 Atlanta Drive was built on 2.5 acres in 1997 and features 24-foot clear heights. Gustavo Torres of Partners represented the seller, a private investor, in the transaction. The buyer and sales price were not disclosed.

June 6, 2023

Development Industrial New York Northeast

L&L Holding, Columbia Property Top Out 1.3 MSF Terminal Warehouse in Manhattan

by Taylor Williams June 6, 2023

NEW YORK CITY — A joint venture between L&L Holding Co. and Columbia Property Trust has topped out Terminal Warehouse, a 1.3 million-square-foot industrial redevelopment project in Manhattan’s West Chelsea neighborhood. Designed by COOKFOX Architects, the project centers on the conversion of a historic warehouse that was originally built in 1891 into a mixed-use destination with office and retail components. The development also includes 2.5 acres of open green space. Full completion is slated for 2024.

June 6, 2023

Acquisitions Industrial New Jersey Northeast

Cushman & Wakefield Arranges Sale of 293,887 SF Industrial Property in Livingston, New Jersey

by Taylor Williams June 6, 2023

LIVINGSTON, N.J. — Cushman & Wakefield has arranged the sale of West Essex Logistics Center, a 293,887-square-foot industrial property in the Northern New Jersey community of Livingston. The property is a redevelopment of the former CIT Bank office headquarters campus and features a clear height of 36 feet, 54 loading docks and two drive-in doors. Gary Gabriel, David Bernhaut, Kyle Schmidt and Ryan Larkin of Cushman & Wakefield represented the seller, a partnership between Bluewater Property Group and Affinius Capital, in the deal. The buyer was Atlanta-based Invesco Real Estate.

June 6, 2023

Acquisitions Industrial Maryland Southeast

Joint Venture Buys 859,900 SF Industrial Warehouse in Metro Baltimore

by John Nelson June 5, 2023

ABERDEEN, MD. — A joint venture between MCB Real Estate LLC, Artemis Real Estate Partners and principals of Ace Logistics Services Inc. has acquired Tower Logistics Center, an 859,900-square-foot warehouse at 1225 S. Philadelphia Road in Aberdeen. The facility, which will be rebranded Ace Logistics Center, is situated on 98.5 acres in Baltimore’s I-95 North submarket. The seller is a partnership between Merritt Properties and BentallGreenOak, which developed the property in 2021. Benjamin Meisels and Peter Hajimihalis of JLL represented the buyer and Ace Logistics in the lease deal. Bo Cashman and Jonathan Beard of CBRE represented the seller. Ace Logistics Center features clear heights of 40 feet, 189 cross docks, four drive-in doors, 310 trailer parking spaces and 130-foot truck court depths. Ace Logistics Services has signed a long-term lease for the building and expects to begin operations later this month. The firm provides cargo handling, warehousing and logistical services and currently operates eight facilities totaling 1.4 million square feet of space, as well as six outside storage/drop yards, all close to the Port of Baltimore.

June 5, 2023

Acquisitions Industrial North Carolina Southeast

Brennan Acquires 143,268 SF Industrial Building in Conover, North Carolina

by John Nelson June 5, 2023

CONOVER, N.C. — Chicago-based Brennan Investment Group has acquired an industrial property located at 221 South McLin Creek Road in Conover. Axjo America Inc., a division of Swedish polymer company Axjo, fully occupies the 143,268-square-foot building, which is situated on an 8.3-acre site about 45 miles northwest of Charlotte. The property offers proximity to I-40, NC Highway 16 and U.S. Route 321. The seller and sales price were not disclosed. The Conover facility is Brennan’s fifth industrial investment in the Carolinas in the past 18 months, according to Scott McKibben, Brennan’s chief investment officer and managing principal.

June 5, 2023

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