HAVERHILL, MASS. — JLL has negotiated the $36 million sale-leaseback of a 108,689-square-foot cold storage facility located on the northern outskirts of Boston in Haverhill. Building features include clear heights of 27 to 40 feet, 12,000 pallet positions, 21 dock-high doors and 6,000 square feet of office space. Michael Restivo, Lenny Pierce and David Coffman of JLL represented the seller, an entity doing business as CF Cold Storage LLC, in the transaction. An affiliate of Cold Scout Storage purchased the facility and will lease it back to the seller on a short-term basis.
LONG BEACH, CALIF. — DAUM Commercial Real Estate Services has arranged the sale of an industrial distribution property located at 3221 E. 59th St. in Long Beach. Metra Electronics sold the asset to a high-net-worth private investor for more than $11 million. Michael Collins and Dustin Hullinger of DAUM’s Capital Markets Group represented the buyer, while Brian Held and Rob Flores of CBRE represented the seller in the deal. Constructed in 1970 on nearly two acres, the 38,233-square-foot building features 22-foot warehouse ceiling heights, three dock-high truck positions and grade-level loading. Additionally, the property is fully fenced and secure and provides ample truck parking and storage area.
GURNEE, ILL. — Cawley Chicago has brokered the sale of a 31,000-square-foot industrial building in Gurnee, a city in Northeast Illinois. The sales price was undisclosed. The property is located at 3940 Tannahill Drive. Dustin Albers, Andrew Maletich and Matt Garland of Cawley Chicago represented the buyer, Imperial Lubes, which is relocating and expanding its operations from Elk Grove Village. Marc Samuels of Cushman & Wakefield represented the undisclosed seller.
SPRING HILL, TENN. — A joint venture between PCCP LLC and Distribution Realty Group plans to develop Beechcroft Industrial Park, an 815,530-square-foot industrial project located at 825-845 Beechcroft Road in Spring Hill, about 38 miles south of Nashville. The three-building speculative project will be situated on a 63-acre site adjacent to the largest General Motors manufacturing facility in North America. The joint venture expects to break ground in October and deliver Beechcroft Industrial Park in November 2023.
LAKE OSWEGO AND TUALATIN, ORE. — Gantry has arranged $6.5 million in permanent financing for the acquisition of two cross-collateralized industrial/flex industrial assets near Portland. The properties include a 14,600-square-foot flex industrial building on Willow Lane in Lake Oswego, and Teton Business Center, a two-building, 45,000-square-foot industrial park in Tualatin. Adam Parker, Paddy Ryan and Bryant Bushnell of Gantry secured the financing on behalf of a longstanding borrower client, a family office partnership. Gantry secured the 20-year loan through one of its correspondent life companies. The financing features an interest rate below 5 percent, which locked at the time of application.
MONTGOMERY, ILL. — Coldwell Banker Commercial Real Estate Group has brokered the $3.4 million sale of the US 30 Self Storage property in Montgomery, about 45 miles west of Chicago. The self-storage facility consists of 278 enclosed units and 268 paved parking spaces for boats and RVs. The property was originally constructed in 2005 with additional units added in 2021. Richard Faltz of Coldwell Banker Commercial represented the undisclosed buyer. The seller was also not provided.
WILMER, TEXAS — Dallas-based Champion Partners and Chicago-based Cresset Partners have broken ground on Tradepoint 45 West, a 1.3 million-square-foot speculative warehouse that will be located in the southern Dallas suburb of Wilmer. The site spans 95 acres, and the structure will feature 40-foot clear heights, 237 dock doors, 354 truck trailer parking stalls and 306 employee parking spaces. Completion is slated for the third quarter of 2023. The development team has tapped Stream Realty Partners to lease the building.
SUNNYVALE, TEXAS — Colliers has negotiated the sale of a 163,000-square-foot manufacturing facility located on U.S. Highway 80 in Sunnyvale, an eastern suburb of Dallas. Automotive parts provider The Adell Group occupies the facility along with construction management firm The Christman Co. Andrew Johnson of Colliers represented the buyer, Dallas-based Leon Capital Group, in the transaction, additional terms of which were not disclosed.
WESTWOOD, N.J. — Lakeland Bank has provided a $12 million loan for the refinancing of an 830-unit self-storage facility located in the Northern New Jersey community of Westwood. The property spans 113,800 net rentable square feet of space across 783 climate-controlled units and 47 drive-up units. Greg Nalbandian led a JLL team that arranged the loan on behalf of the borrower, Maxim Realty Trust, which developed the facility in 2017. Extra Space Storage operates the property.
CALHOUN, GA. — Lincoln Property Co. Southeast (LPC Southeast) has broken ground on Calhoun 75 Commerce Center, a 404,000-square-foot distribution center located near I-75 on Belwood Road in Calhoun, about 68 miles northwest of Atlanta. Set to deliver in fall 2023, the front-load facility will feature 36-foot clear heights, 67 dock-high doors, 74 trailer parking spaces and 278 auto parking spaces. The property will also offer tenant amenities including an outdoor grill and lounge area, as well as an additional 1.2 acres of land available for excess parking. Denton Shamburger, Turner Fortin and Colin Beecham of LPC Southeast will oversee the construction, marketing and leasing of the building.