MESQUITE, TEXAS — Lee & Associates has brokered the sale of a 14-acre industrial development site located at 19205 Lyndon B. Johnson Freeway in Mesquite, an eastern suburb of Dallas. Alex Wilson, Nathan Denton and Reid Bassinger of Lee & Associates represented the buyer, Houston-based developer Lovett Industrial, in the transaction. The seller and sales price were not disclosed. Specific plans for the site were also not disclosed.
NORTH BERGEN, N.J. — Marcus & Millichap has brokered the $11.1 million sale of a 38,310-square-foot industrial property in North Bergen, located across the Hudson River from Manhattan. Built on 2.8 acres in 2004, the property features a clear height of 26 feet, 21 drive-in doors and 50 parking spaces. Mark Gjonbalaj, Alan Cafiero and Giacomo Fiorenza represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity, in the transaction.
NEWARK, N.J. — Locally based investment firm The STRO Cos. has acquired a two-building, 45,500-square-foot industrial property located at 202-231 Vanderpool St. in Newark. The site spans 1.6 acres, and the buildings feature clear heights of 14 and 18 feet, as well as a combined 12 drive-in doors and seven loading docks. The seller and sales price were not disclosed. The new ownership plans to implement a capital improvement program.
LAS VEGAS — The Rockefeller Group has acquired seven acres of land in Las Vegas to develop two speculative industrial buildings totaling 145,630 square feet. R A Plaza LLC sold the land for $8.5 million. The project, Cheyenne Industrial Park, will be located at 3102 N. Lamb Blvd. and is fully entitled. Rockefeller plans to begin construction by the end of year. Rockefeller recently started construction on its first development in the region, Nellis Logistics Center, a 134,100-square-foot speculative distribution facility, at the southwest corner of North Nellis Boulevard and East Carey Avenue in Clark County.
BARTLETT, ILL. — Entre Commercial Realty has brokered the sale of a 3.7-acre industrial site for a build-to-suit project in Brewster Creek Business Park in the Chicago suburb of Bartlett. The corporate headquarters facility will be home to a printing and packaging company relocating from Kane County. Mike DeSerto, Cory Kay and Mike Berkowitz of Entre represented the developer, Triumph Construction. JLL represented the buyer. The deal marks the fourth build-to-suit transaction that Entre has completed in Brewster Creek Business Park on behalf of Triumph.
CARTERSVILLE, GA. — CBRE has arranged a 110,441-square-foot industrial lease within Busch Logistics Park at 1187 Cassville White Road NE in Cartersville. The tenant is Ernesta, a New York City-based direct-to-consumer, custom-fit rug company. The company expects to hire up to 50 people at the location. Matt Von der Ahe and Scott Slappey of CBRE represented the tenant in the leasing negotiations. JLL represented the landlord, Houston-based Hines.
MCKINNEY, TEXAS — Locally based brokerage firm Citadel Partners has arranged the sale of a 279,180-square-foot logistics facility in the northern Dallas suburb of McKinney. Scott Jessen and Andy Goldston of Citadel Partners represented the seller and developer, Atlanta-based Core5 Industrial Partners, in the transaction. Dan Spika of Henry S. Miller represented the buyer, United Pacific Industries, which will also occupy the facility. The automotive design and manufacturing firm plans to move in during the second quarter. The sales price was not disclosed.
MESQUITE, TEXAS — Lowe’s Home Improvement has signed a 78,000-square-foot industrial lease at Landmark at the Meadows, a speculative project that is under construction in the eastern Dallas suburb of Mesquite. The North Carolina-based retailer is taking more than half the space at Building II, which totals 139,319 square feet and features 32-foot clear heights. Kurt Griffin and Nathan Orbin of JLL negotiated the lease on behalf of the landlord, Florida-based Landmark Cos.
NORTH RICHLAND HILLS, TEXAS — Holt Lunsford Commercial has negotiated a 51,961-square-foot industrial lease at Corporate Centre at the Crossing in North Richland Hills, a northern suburb of Fort Worth. Matt Carthey and Jake Neal with Holt Lunsford Commercial represented the landlord, Capital Commercial, in the lease negotiations. The representative of the tenant, third-party logistics firm Con-Way Freight, was not disclosed.
LAS VEGAS; LOS ANGELES; AND PORTLAND, ORE. — BKM Capital Partners has purchased 10 properties in four recent transactions valued at more than $280 million. The deals involve more than 1.1 million square feet of light industrial space across 35 buildings in Las Vegas, Los Angeles and Portland. The bulk of the activity occurred in Las Vegas, where BKM significantly expanded its holdings through two off-market transactions involving eight properties totaling nearly 830,000 square feet. The 22 small-bay industrial buildings consist of 321 units and are located near the Las Vegas Strip and McCarran Airport in Clark County’s Southwest submarket.