CLAYTON, OHIO — CBRE has brokered the $12 million sale of a 200,356-square-foot distribution center in Clayton, a northwest suburb of Dayton. Situated on 20 acres at 1 Lau Parkway, the property is net leased to Michigan-based HVAC manufacturing company Hart & Cooley LLC. The company has occupied the facility since its completion in 1997. The property features 12 dock doors, four drive-in doors, clear heights ranging from 24 to 26 feet and trailer parking. Will Roberts, Steve Timmel, Phil Pelok and Brandon Ellis of CBRE represented the seller, Property Advisors Group. AIC Industrial was the buyer.
AUBURN, N.Y. — Marcus & Millichap has brokered the sale of B&C Storage, a 229-unit self-storage facility in Auburn, about 30 miles west of Syracuse. The facility was originally built on 2.8 acres in 1980 and comprises 24,094 net rentable square feet of non-climate-controlled space. The sale included an adjacent parcel that spans a third of an acre. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the buyer and seller, both of which were limited liability companies that requested anonymity, in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.
STRATFORD, CONN. — Locally based brokerage firm Angel Commercial has negotiated the $7.2 million sale of two adjacent development sites at 1255 and 1297 West Broad Street in Stratford, located in southern Connecticut’s Fairfield County. The lots are part of a 14-acre assemblage that is zoned and approved for the construction of a 231,000-square-foot industrial facility that will feature clear heights of 36 to 39 feet, two drive-in doors and 232 parking spaces. Boston-based GFI Partners purchased the land and is developing the facility. Jon Angel of Angel Commercial brokered the land deal, the seller in which was not disclosed. Construction is slated for a second-quarter 2024 completion.
SAN DIEGO — Northmarq has arranged a $51.2 million loan for Rose Canyon Business Park, a 232,863-square-foot industrial asset in San Diego. Built in 1976, the multi-tenant industrial park is located at 4901-4907 Morena Blvd., just north of downtown San Diego. Northmarq arranged the two-year loan, which features extension options, through its relationship with an undisclosed bridge lender. The floating-rate loan enables the unnamed sponsor to carry out its value-add business plan over the next three years at Rose Canyon Business Park.
SAN JOSE, CALIF. — Mag Mile Capital has arranged a $20 million cash-out senior mortgage in connection with the financing of a light industrial flex property located at 355 E. Trimble Road in San Jose. The 96,780-square-foot property is owned by 355 Trimble Owner, an entity affiliated with Chicago-based Highlands REIT, which has owned the property debt-free since acquiring it as part of a spinoff in 2016. Highlands and global tech hardware manufacturer Veeco executed a 16-year lease at the research-and-development property in January 2021, which included one year of rent abatement to complete a substantial tenant buildout.
HOUSTON — Silver Star Properties, an entity formerly known as Hartman Short Term Income Properties XX Inc., has sold a 734,000-square-foot industrial property located at 2300 Quitman Road in Houston. The property consists of five buildings ranging in size from 84,467 to 199,151 square feet. Silver Star purchased the property, which was originally constructed in 1920, in 1998. Tenants at the property, which was fully leased at the time of sale, include Liberty Tire Recycling and Sunbelt Warehouse LLC. The buyer was an undisclosed national investment firm.
GRAND PRAIRIE, TEXAS — Lee & Associates has negotiated a 14,522-square-foot industrial lease in the central metroplex city of Grand Prairie. According to LoopNet Inc., the property at 1209 W. Carrier Parkway was built in 1980, totals 34,673 square feet and has 16-foot clear heights. Mark Graybill and Reed Parker of Lee & Associates represented the landlord, Link Industrial Properties, in the lease negotiations. Jamie White of Jamie White Commercial Real Estate represented the tenant, Team Rubicon, a nonprofit provider of disaster relief services.
JACKSONVILLE AND DELRAY BEACH, FLA. — Redfearn Capital has purchased an industrial facility in Jacksonville and industrial outdoor storage (IOS) property in Delray Beach for a combined $18.9 million. The Jacksonville property is a 138,200-square-foot warehouse with 32 dock doors and 24-foot clear heights within Imeson Industrial Park. An entity doing business as 201 Busch Partners LLC sold the single-tenant facility, which was fully occupied by Wing Industries, for $14.4 million. The Delray Beach IOS property comprises a 13,790-square-foot facility and two acres of outdoor storage located at 1595 S.W. 4th Ave. APS Real Estate Inc. sold the asset, which is leased to Assurance Power Systems, for $4.5 million.
ELBERTA, ALA. — Argus Self Storage Advisors has brokered the $1.9 million sale of a self-storage facility located on a 16.1-acre site in Elberta. The facility comprises 98 climate-controlled units totaling 11,250 rentable square feet and 37 boat and RV parking spaces spanning 19,800 rentable square feet. Texas-based A-Affordable Boat & RV Storage purchased the property from undisclosed sellers. Stuart LaGroue Sr. and Bill Barnhill of Argus represented the sellers in the transaction.
SECAUCUS, N.J. — Third-party warehousing and freight firm Global Interactive Logistics (GIL) has signed a 115,000-square-foot industrial lease in the Northern New Jersey community of Secaucus. The multi-tenant facility at 1000 New County Road was built on 25.5 acres in 1968 and totals 525,224 square feet. Conor Dolan, Jeff Babikian, Nick Klacik and Kevin Dudley of CBRE represented GIL, which will relocate from nearby Kearny, in the lease negotiations. Larry Schiffenhaus and Tom Monahan, also with CBRE, represented the landlord, Prologis.