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.
SUFFOLK, VA. — National industrial real estate development firm Industrial Realty Group LLC (IRG) plans to break ground on a 227,000-square-foot distribution facility in Suffolk near the Port of Virginia. Upon completion, the project will be fully leased to RoadOne IntermodaLogistics, a national intermodal, distribution and logistics services company that will use the facility for transload purposes. The firm operates nearly 100 facilities in the United States and Canada, and the Suffolk facility will be RoadOne’s fourth new transload facility and the second one in Virginia that it has added in the past 18 months. The facility is also RoadOne’s third build-to-suit project near the Port of Virginia. Charles Dickinson of Harvey Lindsay Commercial Real Estate represented both IRG and RoadOne in the lease negotiations. The Los Angeles-based developer expects to complete the project in the third quarter of 2023.
LAFAYETTE, IND. — Marcus & Millichap has negotiated the sale of Brady Lane Self Storage in Lafayette, about 60 miles northwest of Indianapolis. The sales price was undisclosed. Located at 1909 Brady Lane, the 62,240-square-foot self-storage facility comprises 574 units across eight buildings. Jeffrey Herrmann and Sean Delaney of Marcus & Millichap represented the seller, a California-based limited liability company. The duo also secured and represented the buyer, a Minnesota-based limited liability company.
MESA, ARIZ. — Teakwood Real Estate Partners has acquired a self-storage facility located at 462 S. Gilbert Road in Mesa. Terms of the transaction were not released. Westport Properties will oversee management and operation of the property under the US Storage Centers brand. The facility features 292 single-story, drive-up units, electronic gate access and 24-hour surveillance. Teakwood Real Estate Partners represented itself in the acquisition.
EL PASO, TEXAS — Marcus & Millichap has brokered the sale of Stuff Hotel, a 424-unit self-storage facility that is situated on a 2.5-acre site at 11655 Pellicano Drive in El Paso. Jon Danklefs of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity, in the transaction.
FAIR LAWN, N.J. — General contractor Peak Construction Corp. is underway on construction of Fair Lawn Logistics Center, a 155,010-square-foot speculative industrial project in Northern New Jersey. The facility will be situated on a 9.2-acre site and will feature a clear height of 36 feet, 16 dock doors and 5,000 square feet of office space. M+H Architects is designing the project, and Dynamic Engineering is serving as the civil engineer. Completion is slated for May 2023. The developer was not disclosed.
