SAN ANTONIO — Point Acquisitions, an investment firm with offices in South Florida and Philadelphia, has purchased a 700-unit self-storage facility located at 18975 Marbach Lane in San Antonio. The site, which is located just off I-35 on the city’s northeast side, spans 65 acres, including 20 acres for additional expansion. The facility currently spans approximately 362,000 net rentable square feet. The seller and sales price were not disclosed.
HOLTSVILLE, N.Y. — Illinois-based investment firm Venture One Real Estate, in partnership with Kovitz Investment Group, has acquired a 50,061-square-foot industrial building located at 889 Waverly Ave. in the Long Island community of Holtsville. The property was built in 1981 and features a clear height of 20 feet, five exterior docks and 3,140 square feet of office space. Tommy Rosati, Jason Maietta and Brandon Lichtenstein of Colliers represented the undisclosed seller in the transaction. The property was fully leased to a single tenant at the time of sale.
HUNTLEY, ILL. — HIP, a joint venture among affiliates of Craig Realty Group Inc., The Prime Group Inc. and The Capital Cos., has begun development of Huntley Commercial Center in Huntley, a northwest suburb of Chicago. The first phase will be a 540,960-square-foot industrial building that is slated for completion in late 2023. The building will feature a clear height of 36 feet, 357 parking stalls, 90 trailer parking stalls, 100 exterior docks and four drive-in doors. The site features an additional 11 acres that will be developed into a 177,320-square-foot build-to-suit project. Adam Marshall and Mark Deady of Newmark will market the development for lease. Development Solutions Inc. is the general contractor and Ware Malcomb is the architect.
TWINSBURG, OHIO — NAI Pleasant Valley has brokered the sale of a 12,559-square-foot industrial building in Twinsburg, located about halfway between Akron and Cleveland. The sales price was undisclosed. The property is located at 2458 Edison Blvd. Jeffrey Calig and David Hexter of NAI Pleasant Valley represented the undisclosed seller and the buyer, Columbus-based TNT Services, which is a fleet and commercial property power washing company.
COLONIE, N.Y. — Commercial finance and advisory firm Axiom Capital Corp. has arranged a $16 million permanent loan for the refinancing of a portfolio of 16 industrial buildings totaling 302,914 square feet in Colonie, located outside of Albany in upstate New York. The direct lender was a bank, and the borrower was a locally based private investment group. Both parties requested anonymity.
MESA, ARIZ. — Stockbridge has purchased a single-tenant warehouse/distribution building situated on 28.6 acres at 3115 N. Higley Road in Mesa from Lexin Capital for an undisclosed price. Built in 2018, a Fortune 10 global e-commerce company fully occupies the 147,435-square-foot property. Will Strong, Kirk Kuller, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield’s National Advisory Group represented the seller in the deal. Designed as a last-mile delivery station, the Class A tilt-up concrete building features 32-foot clear heights, ESRF sprinklers, skylights, R-38 insulation and heavy power. Additionally, the property has ample parking and a 135-foot, fully secured, 100 percent concrete truck court.
SAN DIEGO — LDG Commercial Real Estate has purchased a warehouse and distribution building in San Diego’s Otay Mesa submarket. The San Diego-based company acquired the asset for $10.5 million in an off-market transaction. The name of the seller was not released. Located at 9840 Siempre Viva Road, Across Town Movers fully occupies the 61,500-square-foot building.
SANTA CLARA, CALIF. — Cedar Fair LP (NYSE: FUN), an amusement and water parks owner and operator based in Sandusky, Ohio, has sold the land at California’s Great America amusement park in the Silicon Valley town of Santa Clara. Prologis (NYSE: PLD), an industrial REIT based in San Francisco, purchased the 112 acres for $310 million and executed a lease with Cedar Fair to continue operating the park. Cedar Fair plans to eventually close Great America, which was built in 1976 by Marriott International Inc. (NASDAQ: MAR). The park features more than 60 rides and rollercoasters, as well as the Planet Snoopy children’s park and South Bay Shores waterpark, according to the property website. Cedar Fair will continue to operate the park for a period of up to 11 years and then will close existing park operations at the end of the lease term. After 40 years of leasing Great America, Cedar Fair purchased the land from the City of Santa Clara in 2019 per an order from the State of California. The city purchased the park from Marriott in 1985. Following company-wide park closures from the COVID-19 pandemic, Cedar Fair explored options to raise revenue within its existing portfolio. …
NEW BRAUNFELS, TEXAS — Marcus & Millichap has brokered the sale of Brauntex Storage, a 194-unit self-storage facility that sits on 2.5 acres on the northeastern outskirts of San Antonio. Dave Knobler and Jon Danklefs of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The duo also procured the buyer, a New York-based investment firm. Both parties requested anonymity.
SAVANNAH, GA. — DHL, a German logistics company, has leased 516,800 square feet of industrial space within Savannah Gateway Industrial Hub (SGIH) for its new “import facility.” The 2,600-acre industrial campus underway near the Port of Savannah is a public-private partnership between Broe Real Estate Group, its transportation affiliate OmniTRAX and the Effingham County Industrial Development Authority. DHL will anchor a new 790,400-square-foot cross-dock facility that is scheduled to come on line in August. Other facilities underway in the first phase of SGIH include a 380,000-square-foot, dual-rail-served building and a 940,000-square-foot property set to break ground this summer. At full buildout, Broe estimates that SGIH could span up to 20 million square feet of industrial space.