Industrial

Colliers Negotiates $26M Acquisition of Gifford Business Park in San Bernardino, California

by Amy Works March 3, 2023

SAN BERNARDINO, CALIF. — Colliers has arranged the sale of Gifford Business Park, a seven-building industrial business park in the Inland Empire submarket of San Bernardino. MIG acquired the asset from Positive Investments for $26 million. Christopher Smith and Andrey Mindirgasov of Colliers represented the buyer, while Alan Pekarcik of Kidder Mathews represented the seller in the deal. Located at 750-760 E. Central Ave. and 765-791 S. Gifford Ave., Gifford Business Park features 156,717 square feet of industrial space. The park offers 78 units, ranging from 910 square feet to 19,302 square feet, across seven buildings.

March 3, 2023

Acquisitions Industrial Texas

Cold Creek Solutions Sells 374,560 SF Cold Storage Facility in Denton, Texas

by Taylor Williams March 3, 2023

DENTON, TEXAS — Cold Creek Solutions, a cold storage developer based in the Dallas-Fort Worth area, has sold a 374,560-square-foot speculative facility in the North Texas city of Denton. The facility sits on a 23-acre site just northwest of I-35 and Barthold Road. Building features include 45-foot clear heights, more than 60,000 pallet positions, multiple tenant suites with convertible temperature functionality, 65 trailer parking spaces and ample car parking. ARCO National Construction served as the general contractor for the project, construction of which began in late summer 2021. The buyer was not disclosed.

March 3, 2023

Acquisitions Industrial Lee & Associates New Jersey Northeast

BlackRock Realty Advisors Buys Industrial Facility in Piscataway, New Jersey for $80M

by Taylor Williams March 3, 2023

PISCATAWAY, N.J. — BlackRock Realty Advisors has purchased 330 S. Randolphville Road, an approximately 300,000-square-foot industrial facility in the Northern New Jersey community of Piscataway, for $80 million. According to LoopNet Inc., the property was built on 7.9 acres in 1969, renovated in 2021 and features a clear height of 36 feet. At the time of sale, the facility was fully leased to General Plumbing Supply. Matthew Schnurr of Lee & Associates represented BlackRock Realty Advisors in the transaction. The seller was not disclosed.

March 3, 2023

Development Industrial New Jersey Northeast

Amazon Signs 205,000 SF Industrial Lease in Woodland Park, New Jersey

by Taylor Williams March 3, 2023

WOODLAND PARK, N.J. — Amazon has signed a 205,000-square-foot industrial lease in the Northern New Jersey community of Woodland Park. The e-commerce giant will occupy the entirety of the facility at 1150 McBride Ave., which was developed by a partnership between two New Jersey-based firms, Kushner Real Estate Group and The STRO Cos. The property features a clear height of 36 feet, two drive-in doors, 20 loading docks and ample car and trailer parking. Jason Goldman and Andrew Siesman of KBC Advisors represented Amazon in the lease negotiations. Jack Shulman and Elliot Ferris represented the landlord on an internal basis.

March 3, 2023

Acquisitions California Industrial Western

Luminous Capital Sells 37,200 SF R&D Building in Carlsbad, California for $18.6M

by Amy Works March 2, 2023

CARLSBAD, CALIF. — Luminous Capital Management, in partnership with Austin, Texas-based Virtus Real Estate Capital, has completed the sale of 2290 Cosmos Court, an industrial/R&D property in Carlsbad. Hazard Jr Enterprises LP, a family-owned entity advised by San Diego-based Commercial Facilities, acquired the asset for $18.6 million, or $501 per square foot. REEF, a global manufacturer of beach-inspired footwear and apparel, occupies the 37,200-square-foot building on a 10-year lease, which was signed in early 2022. Rusty Williams, Chris Roth and Jake Rubendall of Lee & Associates represented the seller in the deal. The team also handled the lease with REEF.

March 2, 2023

Washington-Talbert-Industrial-Park-Fountain-Valley-CA

Acquisitions California Industrial Western

DAUM Commercial Negotiates Sale of 59,754 SF Industrial Park in Fountain Valley, California

by Amy Works March 2, 2023

FOUNTAIN VALLEY, CALIF. — DAUM Commercial has arranged the sale of a multi-tenant industrial park at 18071 Mt. Washington St. and 11190-11240 Talbert Ave. in Fountain Valley. Manhattan West Real Estate acquired the asset from DDK Investments for $16.5 million. Built in 1982 on 2.9 acres, the park features two two-story industrial buildings totaling 59,754 square feet with 18-foot to 36-foot clear heights, oversized ground-level doors and large fenced yards. At the time of sale, the property was fully occupied by six tenants, including OC Art & Home, Harwood Galleria, The Drawer Shop and RADCO. Mike Barreiro and Devin Ray DAUM Commercial represented the seller, while Charles Johnson and Joseph Harmon sourced and represented the buyer in the deal.

March 2, 2023

Acquisitions California Industrial Western

Luminous Capital Sells 37,200 SF R&D Building in Carlsbad, California for $18.6M

by Amy Works March 2, 2023

March 2, 2023

Acquisitions California Industrial Western

DAUM Commercial Negotiates Sale of 59,754 SF Industrial Park in Fountain Valley, California

by Amy Works March 2, 2023

FOUNTAIN VALLEY, CALIF. — DAUM Commercial has arranged the sale of a multi-tenant industrial park at 18071 Mt. Washington St. and 11190-11240 Talbert Ave. in Fountain Valley. Manhattan West Real Estate acquired the asset from DDK Investments for $16.5 million. Mike Barreiro and Devin Ray of DAUM Commercial represented the seller, while Charles Johnson and Joseph Harmon sourced and represented the buyer in the deal. Built in 1982 on 2.9 acres, the park features two two-story industrial buildings totaling 59,754 square feet with 18-foot to 36-foot clear heights, oversized ground-level doors and large fenced yards. At the time of sale, the property was fully occupied by six tenants, including OC Art & Home, Harwood Galleria, The Drawer Shop and RADCO.

March 2, 2023

Industrial Leasing Activity Texas

Corporate Fitness Solutions Signs 8,385 SF Industrial Lease Renewal in Addison, Texas

by Taylor Williams March 2, 2023

ADDISON, TEXAS — Corporate Fitness Solutions has signed an 8,385-square-foot industrial lease renewal in the northern Dallas suburb of Addison. According to LoopNet Inc., the property at 4950 Keller Springs Road was built in 1980 and totals 60,118 square feet. Adam Curran of Cushman & Wakefield represented the tenant in the lease negotiations. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as Kennington Parkway Ltd.

March 2, 2023

Development Industrial Loans New Jersey Northeast

Cushman & Wakefield Arranges $17M Acquisition Loan for Northern New Jersey Industrial Site

by Taylor Williams March 2, 2023

BELLEVILLE, N.J. — Cushman & Wakefield has arranged a $17 million acquisition loan for a 15.3-acre industrial development site in the Northern New Jersey community of Belleville. The borrower, a partnership between Lincoln Equities Group and The Carlyle Group, plans to demolish the site’s existing structures and build two Class A warehouses totaling 204,550 square feet. John Alascio, Chuck Kohaut, T.J. Sullivan and Jason Blankfein of Cushman & Wakefield arranged the loan through ConnectOne Bank on behalf of the developer. A construction timeline was not disclosed.

March 2, 2023

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