ROCHELLE, ILL. — Cawley Chicago has negotiated the sale of a 110,000-square-foot lumber yard in Rochelle, about 25 miles south of Rockford. The sales price was undisclosed. The property at 147 Second Ave. features a one-story manufacturing and warehouse facility, which was built in 2003. Jon Chamlin of Cawley Chicago represented the seller, Monty Enoch, proprietor of Cedar Siding Inc. The buyer, Wisconsin-based Dumke Associates, has retained Chamlin as the leasing agent. Dumke plans to renovate the property and begin lease-up in the first quarter of 2023.
FORT WORTH, TEXAS — Swiss chocolate maker Läderach has signed a 42,282-square-foot industrial lease at AllianceTexas, Hillwood’s 27,000-acre master-planned development in North Fort Worth. Jeff Feste, Fred Ragsdale, Blake Rogers and J.M. Priddy of JLL represented Läderach in the lease negotiations. Reid Goetz and Samuel Rhea represented Hillwood on an internal basis.
ETNA TOWNSHIP, OHIO — Contegra Construction Co. has completed a 1.1 million-square-foot distribution center at The Cubes at Etna 70 development in Etna Township near Columbus. Known as Building E, the speculative facility features a clear height of 40 feet, 108 dock doors, four drive-in docks and parking for 289 tractor-trailers and 298 cars. The developer was CRG and its capital partner LXP Industrial Trust. Lamar Johnson Collaborative served as architect. At full buildout, CRG’s The Cubes at Etna 70 will provide up to 2.9 million square feet of industrial space across 220 acres.
OLATHE, KAN. — Sealy & Co. has acquired a 569,584-square-foot industrial building in Olathe for an undisclosed price. The property, located at 1508 S. Green Road within the I-35 Logistics Park, is fully leased to a Fortune 500 tenant. The building features a clear height of 36 feet, 76 dock-high doors, three drive-in doors and a 135-foot truck court. Jason Gandy and Davis Gibbs led the acquisition on behalf of Sealy & Co. JLL brokered the sale on behalf of the seller, Scannell Properties.
HOLTVILLE, CALIF. — JK Management has completed the disposition of a 21.3-acre industrial site at 2255 Melon Road in Holtville. An undisclosed owner/occupier acquired the asset for $4.2 million. The buyer has not released future plans for the facility. The property currently features 101,665 square feet of industrial building improvements, with a 57,310-square-foot refrigerated space, two shop buildings and office space. Matt Davis, Melanie Haynes and Shannon Whitfield of Cushman & Wakefield’s National Land Advisory Group represented the seller in the deal.
BEND, ORE. — Marcus & Millichap has arranged the sale of Summit Self Storage, a self-storage facility at 720 SE 9th St. in Bend. An individual/personal trust sold the asset to a limited liability company for $4.2 million. Built in 1977, Summit Self Storage features 146 units and was 98 percent occupied at the time of sale. Christopher Secreto and Samuel Olson of Marcus & Millichap’s Portland office represented the seller and buyer in the deal.
By Andrew Chused, founding partner, head of investments, Hilco Redevelopment Partners From the nation’s beginning to modern times, Philadelphia has been a bellwether city with a proud legacy of leading the nation to many of its firsts, including the country’s inaugural medical school, library, hospital, business school and stock exchange. In this city of firsts, Hilco Redevelopment Partners (HRP) is unlocking and reinventing a large portion of the city: the former 1,300-acre Philadelphia Energy Solutions (PES) site on the city’s southwest side. Not only is the redevelopment of this site transforming a relic of the city’s industrial age into a new, sustainable economy for the first time, but the project will also transform the way logistics and life sciences companies grow in southwest Philadelphia. An Economic Hub The site, aptly named The Bellwether District, represents a new ecosystem for a variety of tenants, including logistics, e-commerce and life sciences. Located in the shadows of University City and along the Schuylkill River, the project will create over 32,000 jobs and serve as an economic catalyst that drives growth to the city and region for generations to come. Upon its acquisition of the property in June of 2020, HRP quickly began the …
FREEPORT, ILL. — Coldwell Banker Commercial McGuire Mears & Associates has negotiated the sale of a 488,000-square-foot industrial facility in Freeport, a city in Northwest Illinois. The sales price was undisclosed, but the list price was $7 million. The building is roughly 70 years old and features a clear height of 26 feet, 30 exterior docks and 10 drive-in doors. Adam Shultz of Coldwell Banker Commercial McGuire Mears & Associates represented the seller, an affiliate of Janesville, Wis.-based Badger Property Investments LLC. The buyer was an affiliate of Milwaukee-based Phoenix Investors LLC.
LEWISVILLE, TEXAS — Lee & Associates has negotiated a 46,628-square-foot industrial lease in the northern Dallas suburb of Lewisville. The newly constructed building is located at 550 Jubilee Lane. Adam Graham and Corbin Blount of Lee & Associates represented the landlord, Boston-based TA Realty, in the lease negotiations. The representative of the tenant, Redi Carpet, was not disclosed.
BERKS COUNTY, PA. — JLL has arranged a $49 million loan for the refinancing of a portfolio of three industrial buildings totaling 597,704 square feet in Berks County, located in the Lehigh Valley region. Berks 61 is a 270,000-square-foot manufacturing facility that was delivered in 2021 and houses a bottle-to-bottle recycling plant. Berks 222 is a two-building logistics park totaling 327,704 square feet that is home to three tenants, including National Coatings & Supplies Inc. Chad Orcutt, Ryan Ade and Blaine Fleming of JLL arranged the loan through Empower Annuity Insurance Co. of America on behalf of the borrower, Radnor-based Endurance Real Estate Group.