ELLABELL, GA. — CRG has broken ground on Building E at The Cubes at Interstate Centre II, a 463,250-square-foot spec industrial facility in Ellabell, about 23 miles west of Savannah. CRG is slated to deliver the facility in July. JLL is overseeing the leasing at the project. Located on Interstate Centre Boulevard, The Cubes at Interstate Centre II is situated 1.5 miles from Interstate 16, approximately 15 miles from Interstate 95 and within 25 miles of the Port of Savannah and Savannah-Hilton Head International Airport. Upon full buildout, the Cubes at Interstate Centre II will offer approximately 4.3 million square feet of Class A industrial space. Building E will offer features such as 36-foot clear heights, an ESFR sprinkler system, 80 dock doors and four drive-in doors. The project will also provide truck courts with 185-foot depths, 131 trailer spaces and 225 auto spaces. CRG’s parent company Clayco is the builder for the project, while Lamar Johnson Collaborative is the architect. Building E will be the second facility CRG has built within the 300-acre Interstate Centre II. The first facility was Building A, a 700,000-square-foot building located on 56.3 acres that was fully leased to McKesson Medical-Surgical, a medical supplies …
Industrial
AURORA, COLO. — A joint venture between Karis Capital and AEW has completed the disposition of Park 225, a newly developed industrial property located at 13575 E. 37th Ave. in Aurora. San Diego-based Westcore acquired the asset for $33 million. Totaling 142,760 square feet, the multi-tenant building was 57 percent leased to two tenants at the time of sale. Built in 2020, Park 225 features 32-foot clear heights, cross-dock loading, concrete truck court aprons, an ESFR sprinkler system, interstate visibility, heavy trailer parking and available yard. Will Strong, Kirk Kuller, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group in Phoenix represented the seller in the deal. Cushman & Wakefield’s Matt Tone, Steve Hager, Joey Trinkle, Drew McManus, Ryan Searle and Bryan Fry provided leasing advisory in the deal.
Northmarq Arranges $28.1M Construction Loan for Tacoma Central Logistics Project in Washington
by Amy Works
TACOMA, WASH. — Northmarq has arranged a $28.1 million construction loan for the development of Tacoma Central Logistics at 1950 S. State St. in Tacoma. Scott Moline and Bob Spiro of Northmarq secured the three-year, interest-only loan through the firm’s relationship with a national bank for the undisclosed borrower. Totaling 248,000 square feet, the speculative building will feature 36-foot clear heights, 183 auto stalls, four grade-level doors, 56 dock doors and 50 trailer parking stalls. The Tacoma News Tribune previously occupied the site, but the former building was demolished.
BROOMFIELD, COLO. — Realterm has purchased a final-mile warehouse facility located at 400 W. 160th Ave. in Broomfield. Terms of the transaction were not released. Built in 2021 on 52.5 acres, the 200,864-square-foot property features a functional office space, ample parking and 32 loading docks in a combination of drive-in doors and dock-high positions. Cushman & Wakefield represented the undisclosed seller and facilitated the sale.
WESTBOROUGH, MASS. — A joint venture between Dallas-based Lincoln Property Co. and Cara Real Estate, the U.S. investment arm of German firm Cara Investment, has purchased a 198,000-square-foot manufacturing facility in Westborough, located in between Boston and Worcester. The sales price was approximately $20.6 million. At the time of sale, the majority of the property was leased to two tenants, NEO Tech, which produces electronics components, and Columbia Tech, which provides product development and engineering solutions to an array of industries. The seller was not disclosed.
BLOOMINGTON, MINN. — JLL Capital Markets has arranged the sale of a two-building light industrial portfolio totaling 121,572 square feet in the Minneapolis-area community of Bloomington. The portfolio comprises the 58,976-square-foot Victoria Pond Center and the 62,596-square-foot Cedar Business Center, both of which were developed in the mid-1980s. Victoria Pond Center is fully leased to 11 tenants. Cedar Business Center is 91 percent leased to four tenants. David Berglund and Colin Ryan of JLL represented the seller, Hoyt Properties Inc. The sales price and buyer were undisclosed.
NEWPORT, MINN. — Colliers Minneapolis-St. Paul has brokered the sale of Raceway Business Center I in Newport, just southeast of St. Paul. The sales price was undisclosed. The 83,000-square-foot warehouse is located at 710 Hastings Ave. Developed by Scannell Properties in 2018, the property features a clear height of 28 feet, 10 dock-high doors, three drive-in doors, 122 parking stalls and a 120-foot truck court. Mark Kolsrud, John McCarthy, Pete Carbonneau, Kyle Delarosby, Tom Sullivan, Peter Fooshe, Tanner Theis and Lydia Turczyn of Colliers represented the seller, Starline Properties LLC. STAG Industrial Holdings LLC was the buyer.
DENTON, TEXAS — Dallas-based Urban Logistics Realty will develop Urban District 35, a four-building, 440,663-square-foot industrial park that will front Interstate 35 in Denton. Building features will include 28- to 32-foot clear heights, 60-foot speed bays and ample car and trailer parking. Construction is slated for a fourth-quarter completion. Dallas-based Holt Lunsford Commercial has been tapped to lease the development.
GREENCASTLE, PA. — Marcus & Millichap has brokered the sale of A-1 Greencastle Self Storage, a 378-unit facility located in Franklin County in the southern part of the state. The facility consists of 71,426 net rentable square feet across 365 non-climate-controlled units, 10 climate-controlled units and three commercial spaces. The property also features 17 parking spaces. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the undisclosed seller in the transaction. Sean Beuche of Marcus & Millichap assisted in closing the deal as the broker of record.
MANASSAS, VA. — Bethesda, Md.-based Finmarc Management Inc. has disposed of a six-building portfolio comprising 212,000 square feet of warehouse and flex space in Manassas for $45.6 million. Boston-based The Davis Cos. and West Palm Beach, Fla.-based Davin Holdings were the buyers. Marc Tasker, Ryan Moody and Christopher Kubler of NAI KLNB represented Finmarc Management. Joseph Hoffman and Aaron Rosenfeld of Kelley Drye provided legal services. The portfolio was located at 7345, 7663 and 7795 Coppermine Drive and 7201, 7301 and 7401 Gateway Court. The portfolio was 86 percent leased at the time of sale to tenants including Aimpoint, Capital Lighting & Supply, Cedar F&B, Eaton Corp., DH Cos., Lennox Industries and Notal Vision. The six properties were part of a 26-building portfolio containing approximately 950,000 square feet of commercial office, flex/office and warehouse space.