Industrial

Rexford Industrial Sells Industrial Building in Van Nuys, California for $17M

by Jeff Shaw April 11, 2023

VAN NUYS, CALIF. — Rexford Industrial Realty has sold a 48,394-square-foot, multi-tenant industrial building in Van Nuys for $17 million. The buyer was Orion Business Park LLC. The building is located at 8101-8117 Orion Ave. in the San Fernando Valley. Built in 1978, it consists of 29 tenant spaces ranging from 1,000 to 4,000 square feet. The building features 13-foot clear height ceilings and 25 ground-level loading docks. The building was about 93 percent leased at the close of escrow. The new owner intends to lease up the remaining vacancy and hold the asset as a long-term investment. Chris Jackson, Todd Lorber and Tim Foutz with NAI Capital Commercial’s Investment Services Group represented Rexford in the transaction.

April 11, 2023

Industrial Leasing Activity Texas

Partners Real Estate Negotiates 54,000 SF Industrial Lease in East Houston

by Taylor Williams April 11, 2023

HOUSTON — Partners Real Estate has negotiated a 54,000-square-foot industrial lease at 10620 Needham Road in East Houston. According to LoopNet Inc., the property was originally built in 1978. Zane Carman and Clay Pritchett of Partners represented the undisclosed landlord in the negotiations for the full-building lease. The representative of the tenant, oilfield services firm Meyer Services Co., was not disclosed.

April 11, 2023

Acquisitions Arizona Industrial Western

Fundrise Acquires Industrial Building within Cubes at Glendale in Arizona for $82.6M

by Jeff Shaw April 10, 2023

GLENDALE, ARIZ. — Fundrise has purchased Building E at the Cubes at Glendale, a 570,080-square-foot, Class A industrial warehouse in Glendale, for $82.6 million. The asset is located along the 303 Corridor. Upon completion, the Cubes at Glendale industrial park will feature 5.5 million square feet of Class A industrial space at the intersection of Reems Road and Northern Avenue. The seller, CRG, has completed construction on Building A, a 1.2-million-square-foot industrial building leased to Williams Sonoma, and Building D, a 637,000-square-foot industrial building. LaSalle Investment Management and US Merchants, respectively, were the buyers. Cushman & Wakefield’s Will Strong, Phil Haenel, Micki Strain, Kirk Kuller and Molly Hunt of the firm’s National Industrial Advisory Group — Mountain West team represented CRG in the latest sale transaction.

April 10, 2023

Acquisitions Georgia Industrial Southeast

EverWest Sells Industrial Portfolio in Metro Atlanta for $50M

by Jeff Shaw April 10, 2023

ATLANTA — EverWest Real Estate Investors has sold a five-building industrial portfolio in metro Atlanta for $50 million. Taurus Investment Holdings purchased the properties, which total 581,750 square feet. The portfolio is fully leased to tenants including Steelcase Inc., Bonded Services and Heritage Crystal Clean. Matt Wirth of JLL represented EverWest in the transaction.

April 10, 2023

Acquisitions Industrial Southeast Virginia

Red Rock, Westport Capital Divest of 353,044 SF Distribution Center in Metro Richmond

by Jeff Shaw April 10, 2023

CHESTER, VA. — A joint venture partnership between a fund managed by Red Rock Developments and a fund managed by Westport Capital Partners has sold a distribution center located at 1400 Digital Drive in Chester, roughly 20 miles southeast of Richmond. The 353,044-square-foot property was fully leased at the time of sale to CCBCC Operations LLC, which Coca-Cola Consolidated Inc. owns. Eric Robison and Bo McKown of Cushman & Wakefield | Thalhimer with Jonathan Carpenter and Graham Savage of Cushman & Wakefield’s Industrial Advisory Group arranged the sale. Bailard Real Estate Fund acquired the property for an undisclosed price.

April 10, 2023

Industrial Leasing Activity Texas

Colliers Negotiates 393,625 SF Industrial Lease in West Dallas

by Taylor Williams April 10, 2023

DALLAS — Colliers has negotiated a 393,625-square-foot industrial lease in West Dallas. According to LoopNet Inc., the property at 3700 Pinnacle Point Drive was built in 2001 and spans roughly 1 million square feet. James Min, Brad Balke, Chris Teesdale and Tom Pearson of Colliers represented the tenant, Kumho Tire, in the lease negotiations. Southern California-based investment firm Cohen Asset Management owns the property in partnership with Dallas-based Lincoln Property Co. The deal brings the building to full occupancy.

April 10, 2023

Development Industrial Texas

Lovett Industrial, Cresset Partners Break Ground on 274,416 SF Project in Wylie, Texas

by Taylor Williams April 10, 2023

WYLIE, TEXAS — A partnership between Houston-based developer Lovett Industrial and Chicago-based investment firm Cresset Partners has broken ground on Wylie Business Center, a 274,416-square-foot project that will be located on the southern outskirts of Dallas. Building features will include a rear-load configuration, 36-foot clear heights, 55 dock-high doors, 185-foot truck court depths, 77 trailer parking stalls and 154 car parking spaces. Ware Malcolmb is the project architect, and Conlan Co. is the general contractor. JLL will market the property for lease. Completion is slated for December.

April 10, 2023

Acquisitions Industrial Midwest Missouri Self-Storage

Marcus & Millichap Arranges Sale of 221-Unit Self-Storage Facility in Rolla, Missouri

by Kristin Harlow April 10, 2023

ROLLA, MO. — Marcus & Millichap has arranged the sale of a 221-unit self-storage facility in Rolla, a Missouri city located about midway between Springfield and St. Louis. The sales price was undisclosed. The property includes non-climate-controlled units along with one 400-square-foot office space and eight parking stalls. The facility is 93 percent leased. Marla Čolić and Anne Williams of Marcus & Millichap represented the seller, a limited liability company. A private equity group with storage holdings across the U.S. was the buyer.

April 10, 2023

Development Industrial Loans New Jersey Northeast

Hampshire Cos., Invesco to Develop 187,530 SF Industrial Facility in Northern New Jersey

by Taylor Williams April 10, 2023

BOGOTA AND RIDGEFIELD PARK, N.J. — A joint venture between locally based developer The Hampshire Cos. and Atlanta-based Invesco Real Estate will develop a 187,530-square-foot industrial facility in the Northern New Jersey communities of Bogota and Ridgefield Park. The site at 30 Cross St. spans 11.7 acres, and the building will feature a clear height of 36 feet, 21 dock-high doors and 268 automobile parking spaces. Michael Klein, John Rose, Jon Mikula and Ryan Carroll of JLL arranged $34.5 million in floating-rate construction financing through Texas Capital Bank on behalf of the joint venture. A tentative completion date was not disclosed.

April 10, 2023

Industrial Loans Northeast Pennsylvania Self-Storage

MMCC Arranges $8.1M Loan for Refinancing of Philadelphia Self-Storage Facility

by Taylor Williams April 10, 2023

PHILADELPHIA — Marcus & Millichap Capital Corp. (MMCC) has arranged an $8.1 million loan for the refinancing of Compass Self Storage, a 1,167-unit facility located on the north side of Philadelphia. Douglas Brooks of MMCC originated the financing, which was structured with a five-year term, fixed interest rate and a 25-year amortization schedule. The borrower and direct lender were not disclosed.

April 10, 2023

Newer Posts

Older Posts