Industrial

9431-Dowdy-Dr-San-Diego-CA

SAN DIEGO — Stos Partners, in a joint venture with Long Wharf Capital, has completed the disposition of an industrial property in San Diego’s Miramar submarket. EverWest Real Estate Investors bought the property for $17.3 million. The sellers initially acquired the asset for $11 million in early 2020. Located at 9431 Dowdy Drive, the 55,000-square-foot property features ample parking space, drive-around access, dock-high loading space, storage space and a security system with a fenced-in lot. Bryce Aberg, Brant Aberg and Zachary Hardman of Cushman & Wakefield represented the seller in the deal.

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BOSTON — Arden Logistics Parks, the industrial investment arm of Philadelphia-based Arden Group, has purchased a portfolio of eight industrial properties totaling roughly 1.3 million square feet that are located throughout southeast Massachusetts. The sales price was $160 million. Specifically, the properties, which were built between 1968 and 2016, are located in Mansfield, Fall River, New Bedford, Seekonk, Attleboro and Norton. Scott Dragos, Chris Skeffington, Doug Jacoby, Anthony Hayes, Tim Mulhall, Roy Sandeman and Dan Hines of CBRE represented the seller, Westbrook Partners, in the transaction. At the time of sale, the portfolio was 97 percent leased to 23 tenants, including Nestle, T-Mobile, Displays2Go and Whirlpool.

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201-Elizabeth-St.-Bordentown-New-Jersey

BORDENTOWN, N.J. — Cushman & Wakefield has brokered the $60 million sale of a 275,631-square-foot industrial asset located at 201 Elizabeth St. in Bordentown, located outside of Philadelphia in the southern part of the Garden State. Mindy Lissner, Bill Waxman, Christine Eberle, David Gheriani, Chris Griffith, Jeff Volpi and Morgan Nitti of Cushman & Wakefield represented the buyer, Penwood Real Estate Investment Management, in the transaction. Steven Schultz of Newmark represented the seller, The O’Donnell Group.

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Port-Houston-Ship-Channel

By Taylor Williams If ever there was a time to start a commercial real estate story with a line about how everything’s bigger in Texas, a 2022 update on Port Houston’s activity would surely be it. For that really is the case in and around Houston’s economic engine. The various pieces of infrastructural groundwork that the port began laying over the last decade-plus in anticipation of expanded activity are seeing heavier utilization. The channel itself, its shores lined with 900-ton cranes, are being deepened (from 45 to 46.5 feet) and widened (from 530 to 700 feet) at accelerated paces to accommodate the ever-growing volume of cargo passing through the port. And with the forward progress of all these projects and initiatives comes healthy demand for bigger industrial tracts to develop and spaces to lease.  “We’re simply in a different place now than we were a decade ago,” says John Moseley, Port Houston’s chief commercial officer. “At that time, not everybody was convinced that Houston would become a massive import hub. But we saw demographic changes and felt that as a marine terminal operator, we controlled our own destiny. So we invested in our infrastructure and economic development to attract distribution …

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Raintree-Life-Storage-Scottsdale-AZ

SCOTTSDALE, ARIZ. — Thorofare Capital has closed a $20 million loan for Raintree & Pima Self Storage Partners, an affiliate of Phoenix-based 1784 Capital Holdings. The funds will be used to complete construction of a Raintree Life Storage location in Scottsdale. The $20 million floating-rate financing carries an initial term of 1.5 years and includes two six-month extension options. Additionally, the loan features interest-only payments for its entire duration and is nonrecourse, subject to customary completion and carry guarantees. Situated on a 2.2-acre site facing Loop 101, the 81,435-square-foot facility features 944 climate-controlled self-storage units. Life Storage will handle the property operations upon the project’s delivery, which is slated for September 2022. Life Storage currently operates 5,887 self-storage units, totaling 618,881 square feet, within a 7.5-mile radius of the Raintree Life Storage. TLW Construction is serving as general contractor on the project, which is approximately 65 percent complete at the time of financing. RKAA Architects is serving as project architect.

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12628-WCR4-Brighton-CO.jpg

BRIGHTON, COLO. — Tri-County Real Estate Acquisitions has completed the disposition of an industrial portfolio on three lots totaling 22 acres at 12628, 12706 and 12750 WCR 4 in Brighton. 12628 Brighton Partners LLC purchased the property for $9.2 million. Totaling 30,525 square feet, the portfolio was 100 percent leased to two tenants at the time of sale. Travis Ackerman of Cushman & Wakefield’s Fort Collins, Colo., office represented the seller in the deal.

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HUTTO, TEXAS — Titan Development has acquired 188 acres in the northern Austin suburb of Hutto for the development of an industrial project that will be dubbed Hutto Mega TechCenter. Titan Development acquired the land, which is located near State Highway 130 and is zoned for light industrial usage, from the City of Hutto. Buildings will range in size from 200,000 to 1 million square feet. A construction timeline is still being finalized.

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BAYTOWN, TEXAS — CBRE has negotiated a 307,000-square-foot industrial lease at Building C at Baytown Intermodal Center, a 1.2 million-square-foot campus located within Cedar Port Industrial Park. The site is located near Port Houston on the southeastern outskirts of Houston. Boomer White and Jim Stark of CBRE represented the landlord, Reich Brothers, a privately investment group with offices in New York and Los Angeles, in the lease negotiations. The representative and name of the third-party logistics company that will be the new tenant were not disclosed.

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OMAHA, NEB. — Airlite Plastics Co. Inc. and Marianna Industries Inc. have leased the former Gordmans distribution center located at 9202 F St. in Omaha. Kevin Stratman, Clint Seemann and Ryan Zabrowski of Investors Realty represented the landlord, an entity doing business as G&I IX Specialty Ret LLC. The property was left vacant by Gordmans after its parent company, Stage Stores, filed for bankruptcy. The center underwent a substantial renovation led by Investors Realty’s project management team. Paul LaFave of CBRE represented Marianna, which leased 81,090 square feet. Airlite leased 186,405 square feet and did not have a representative. Omaha-based Airlite sells plastic containers and reusable products. Omaha-based Marianna is a hair care formulator and manufacturer.

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ELK GROVE VILLAGE, ILL. — A joint venture between Clear Height Properties and Blackbird Investment Group has sold a 112,000-square-foot industrial building in Elk Grove Village for an undisclosed price. The property, located at 1250-1350 Greenleaf Ave., is fully leased to Brett Anthony Foods. In early 2018, Clear Height began planning with Brett Anthony Foods on site selection. Clear Height and Blackbird acquired the adjacent building at 1250 Greenleaf Ave. in January 2021 through a sale-leaseback transaction. A project team consisting of DSI Group, Michael Weber Architects, Cartland Kraus and Cage Engineering merged the two buildings via a 10,000-square-foot addition and completed improvements to the façade, main entrance, parking lot, landscaping and office portion. Michael Caprile, Zach Graham, Jason Lev and Ryan Bain of CBRE represented Clear Height in the sale. An institutional investor acquired the asset.

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