HOUSTON — Locally based investment and development firm Triten Real Estate Partners has purchased three industrial outdoor storage sites totaling 53.3 acres in Houston. The sites at 3004 Aldine Bender Road and 3434 Greens Road are both located on the city’s north side and total 35.3 acres and 6.8 acres, respectively. The third property, which is located at 15005 Crosby Freeway in northeast Houston, spans 11.2 acres. Triten acquired the properties, all of which house existing structures and have the capacity to support truck parking operations, in three separate, off-market transactions. The sellers and sales prices were not disclosed.
HOUSTON — Northmarq has arranged a $5.5 million acquisition loan for a 72,649-square-foot industrial flex property in northeast Houston. Matt Franke of Northmarq arranged the loan, which carried a five-year term and a 25-year amortization schedule, through a national bank. The borrower was not disclosed. According to LoopNet Inc., the property at 6410 Cavalcade St. was built on 4.9 acres in 1976 and features 17- to 22-foot clear heights.
CARNEYS POINT, N.J. — An affiliate of regional investment firm D2 Organization has acquired a 48-acre industrial development site in Carneys Point, about 30 miles south of Philadelphia. The site, which was formerly known as Salem Business Center, comprises three vacant parcels totaling 35 acres, a 10-acre tract that houses a 78,000-square-foot building and an adjacent three-acre outparcel. Prior to closing, D2 Organization fully entitled the vacant land for the development of three buildings totaling 586,000 square feet. American Dream Realty represented D2 Organization in the land acquisition. The seller was The Delaware River & Bay Authority.
HASBROUCK HEIGHTS, N.J. — NAI James E. Hanson has brokered the sale of a 33,000-square-foot industrial building located in the Northern New Jersey community of Hasbrouck Heights. The building sits on a 1.5-acre site at 60 Railroad Ave. and features clear heights of 16 to 35 feet, as well as six drive-in doors. Andrew Somple and Justin Allessio of NAI Hanson represented the buyer and seller, both of which requested anonymity, in the transaction.
TINLEY PARK, ILL. — Cawley Chicago has brokered the sale of a 49,418-square-foot office building in the Chicago suburb of Tinley Park for an undisclosed price. Rawly Lantz and Justin Harris of Cawley Chicago represented the seller, a private local investor, and marketed the property for industrial reuse. The single-story property, built in 2001 and located at 18410 Crossing Drive, features 218 parking spaces and a clear height of 18 feet. Ted Gates of CBRE represented the buyer, a multi-national laboratory group.
TEMPE, ARIZ. — The Opus Group has completed the disposition of Warner Commerce Center, a newly built industrial project situated on an 18-acre infill site in Tempe. Barings acquired the asset for $42.4 million. Located at 1300 and 1330 W. Warner Road, the site was formerly an office building. Opus completed a speculative redevelopment of the property, transforming it into a 197,000-square-foot manufacturing, distribution or last-mile distribution facility. Warner Commerce Center consists of two 98,500-square-foot buildings each suitable for multiple tenants. The buildings feature 32-foot clear heights and a combined total of 40 rear-load dock doors, four drive-in doors, 64 dedicated trailer parking stalls and 392 vehicle parking stalls. Will Strong, Phil Haenel, Kirk Kuller, Molly Hunt, Cal Conway, Stephanie Saccente, Micki Strain and Foster Bundy of Cushman & Wakefield’s Industrial Advisory Group – Mountain West team represented the seller in the transaction.
IRWINDALE, CALIF. — DAUM Commercial Real Estate Services has arranged the sale of an eight-acre parcel, including two industrial buildings, located at 4510 Azusa Canyon Road in Irwindale. Rexford Industrial acquired the asset from DS Services of America, a water bottling and distribution company, for $40 million. The sale-leaseback deal includes a five-year lease with an option to extend. Dennis Sandoval, Kevin Sandoval and Bryan Sandoval of DAUM represented the seller, Dennis Sandoval also represented the buyer in the transaction. Constructed in 1950, the property features a 52,780-square-foot Class C industrial building and a 14,728-square-foot building. The buildings offer 24-foot clear heights, ample parking and a fully fenced and secured lot.
SACRAMENTO, CALIF. — San Diego-based Badiee Development has completed the construction and sale of Metro Air Park Logistics Center – Phase I in Sacramento. BentallGreenOak acquired the asset for an undisclosed price on a forward basis. Located on Badiee Drive, Metro Air Park Logistics Center – Phase I features two Class A industrial buildings totaling 308,780 square feet. Both buildings feature ESFR sprinklers and heavy power. Situated on 10.5 acres, the 183,088-square-foot Building I is divisible to four 40,000-square-foot suites. The building features 36-foot clear heights, 56 trailer and 155 auto parking stalls, 14,000 square feet of built-to-suit office space, and 31 dock-high and two grade-level doors. Situated on seven acres, the 125,692-square-foot Building II is divisible to two 60,000-square-foot suites. The facility features 32-foot clear heights, 103 auto stalls, 10,000 square feet of built-to-suit office space, and 21 dock-high and two grade-level doors. The second phase of Metro Air Logistics Center is currently under construction and will consist of a 109,300-square-foot freestanding building slated for completion in spring 2023. BentallGreenOak is expected to purchase the second phase upon its completion. Jeff Chiate, Rick Ellison, Mike Adey, Brad Brandenburg and Matthew Leupold of Cushman & Wakefield represented Badiee Development in …
WILMER, TEXAS — An undisclosed American multinational firm that provides apparel, footwear and accessories has signed a 1 million-square-foot industrial lease at Southport Logistics Park in Wilmer, a southern suburb of Dallas. The unnamed tenant will occupy the entirety of Building 3 at the 252-acre development, which is owned by Chicago-based Logistics Property Co. Features of the cross-dock, speculatively built facility include 40-foot clear heights, 354 car parking spaces (expandable to 724) and 164 trailer parking spaces (expandable to 197). Seth Kelly, Dan Estes and Nathan Lawrence of CBRE represented the tenant in the lease negotiations. Kacy Jones and John Hendricks, also with CBRE, represented Logistics Property Co.
NORMAN, OKLA. — Marcus & Millichap has arranged the sale of Cambridge Mini Storage, a 754-unit self-storage facility in Norman, located south of Oklahoma City. The facility totals 87,700 net rentable square feet. Bryan Quaschnick, Brandon Karr and Danny Cunningham of Marcus & Millichap represented the locally based seller in the transaction and procured a Dallas-based private partnership as the buyer. Both parties requested anonymity.