Industrial

Empire Square Group Sells 160,000 SF Manufacturing, Office Campus in San Jose for $64.3M

by Amy Works November 10, 2021

SAN JOSE, CALIF. — Empire Square Group has completed the disposition of a two-building advanced manufacturing and office campus located at 5300-5350 Hellyer Ave. in South San Jose. J&J Properties acquired the asset for $64.3 million. Joe Moriarty, Scott Prosser and Jack DePuy of CBRE Capital Markets brokered the sale. Brad Zampa and Michael Walker of CBRE Capital Markets’ Debt & Structured Finance group arranged $44 million in acquisition financing for J&J Properties. The 10-year, fixed-rate, non-recourse loan was arranged through a multinational investment bank. CAES, formerly Cobham, has occupied the 160,000-square-foot asset since it was originally built in 1999, and the company has invested significant capital into facility improvements over the years. The property features specialized infrastructure including 21 kV of power and more than 1,000 tons of HVAC. CAES is a provider of analog and radiation-hardened technology for the U.S. aerospace and defense industry. The company makes off-the-shelf and customized radio frequency, microwave and high-reliability microelectronic products and subsystems.

November 10, 2021

Acquisitions Industrial New York Northeast Self-Storage

Marcus & Millichap Brokers Sale of 590-Unit Self-Storage Facility in Evans Mill, New York

by Taylor Williams November 10, 2021

EVANS MILL, N.Y. — Marcus & Millichap has brokered the sale of Storage Made EZ, a 590-unit facility located in the Upstate New York community of Evans Mill. Built on 10.3 acres in 2006, the property consists of 211 climate-controlled units, 370 non-climate-controlled units and nine retail spaces for a total of 80,004 square feet of net rentable space. Luke Dawley, Nathan Coe, Gabriel Coe and Brett Hatcher of Marcus & Millichap represented the seller and buyer, both of which requested anonymity, in the transaction. Susan Bands of Marcus & Millichap assisted in closing the deal as the broker of record.

November 10, 2021

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 301,995 SF Industrial Lease in Fort Worth

by Taylor Williams November 9, 2021

FORT WORTH, TEXAS — Lee & Associates has negotiated a 301,995-square-foot industrial lease at Everman Distribution Center in Fort Worth. The property is located within Carter Distribution Center and features 38-foot clear heights, 280-foot truck court depths, 196 car parking spaces, 92 trailer parking spaces and 22 dock-high doors. Trey Fricke and Reid Bassinger of Lee & Associates represented the landlord, The Hollingsworth Cos., in the lease negotiations. Tom Golarz and James Ewing of Colliers International represented the tenant.

November 9, 2021

Acquisitions Industrial Texas

Mohr Capital Sells 113,786 SF Industrial Flex Building in Metro Dallas

by Taylor Williams November 9, 2021

CARROLLTON, TEXAS — Dallas-based investment firm Mohr Capital has sold a 113,786-square-foot industrial flex building located in the northern Dallas suburb of Carrollton. The property was fully leased at the time of sale. Connecticut-based telecommunications firm Frontier Communications occupies 75 percent of the space, and the remaining portion is leased to Transcendia, an Illinois-based provider of custom-engineered materials. Dustin Volz and Stephen Bailey of JLL represented Mohr Capital in the deal. Boston-based Cabot Properties purchased he asset for an undisclosed price.

November 9, 2021

Development Georgia Industrial Southeast

CA Industrial, Barings Break Ground on 4 MSF Logistics Site in Metro Savannah

by Julia Sanders November 9, 2021

BLOOMINGDALE, GA. — CA Industrial, part of Chicago-based CA Ventures, and Barings LLC, a subsidiary of MassMutual, have broken ground on the first phase of the I-16 Port Logistics site in Bloomingdale. The nine-building industrial project totals nearly 4 million square feet. Located on the northeast corner of Interstate 16 about 13.5 miles from Savannah, I-16 Port Logistics is situated close to the Port of Savannah. The first phase of the development will include one cross-dock facility and two rear-load facilities totaling 1.1 million square feet. Construction of Phase I of the three-phased project is slated for completion by Nov. 2022. Hartford Investment Management Co. (HIMCO) provided an undisclosed amount of construction financing for the development. Evans General Contractors is serving as the general contractor for the project, and William Lattimore and Bill Sparks of CBRE will serve as leasing brokers for the properties.

November 9, 2021

Acquisitions Industrial North Carolina Southeast

JLL Brokers Sale of 502,495 SF Last-Mile Distribution Center in Raleigh

by Julia Sanders November 9, 2021

RALEIGH, N.C. — JLL Capital Markets has brokered the sale of South 40 Distribution Center, a 502,495-square-foot, last-mile distribution facility in Raleigh. Patrick Nally, Pete Pittroff, Dave Andrews and Michael Scarnato of JLL represented the seller, LM Real Estate Partners, in the transaction. Pennybacker Capital acquired the property for an undisclosed price. Located at 2201 and 2126 S. Wilmington St., South 40 Distribution Center is in an infill location situated one mile south of downtown Raleigh. The property is also situated adjacent to Interstate 40. Pennybacker Capital is a real estate private equity investment manager with offices in Austin, New York, Denver and Charlotte. LM Real Estate Partners is a New York-based commercial real estate firm that specializes in the acquisition and operation of industrial properties.

November 9, 2021

Development Illinois Industrial Midwest

Opus Begins Construction of 49,984 SF Industrial Build-to-Suit in West Dundee, Illinois

by Kristin Harlow November 9, 2021

WEST DUNDEE, ILL. — The Opus Group has begun construction on a 49,984-square-foot industrial build-to-suit for Chicago Logistic Service in West Dundee, a far northwest Chicago suburb. This is the ninth project Opus has built within the Oakview Corporate Park. The building will feature 10 dock doors, two drive-in doors, 15 trailer stalls, 39 parking stalls, 2,900 square feet of office space and a clear height of 28 feet. Completion is slated for July 2022. Opus is serving as developer, design-builder, interior designer, architect and structural engineer. Noel Liston of Darwin Realty represented both Opus and the tenant.

November 9, 2021

Acquisitions Illinois Industrial Midwest

Entre Commercial Realty Brokers Sale of 40,500 SF Industrial Building in South Holland, Illinois

by Kristin Harlow November 9, 2021

SOUTH HOLLAND, ILL. — Entre Commercial Realty has brokered the sale of a 40,500-square-foot industrial building in South Holland, a southern suburb of Chicago. The sales price was undisclosed. The property is located at 510 W. 172nd St. Chris Wilbur and Jeff Locascio of Entre represented the seller, Hadady Corp. Sam Deihs of Entre represented the buyer, Green Electric Solutions, an electronics recycler.

November 9, 2021

Acquisitions California Industrial Office Western

Stos Partners Acquires 37,500 SF Office/Manufacturing Facility in Poway, California

by Amy Works November 9, 2021

POWAY, CALIF. — Stos Partners has purchased a corporate headquarters and manufacturing facility located at 13955 Stowe Drive in Poway. A private seller sold the asset for $8.6 million. Stos Partners plans to implement a series of capital upgrades including interior office rehabilitation, roof repair and HVAC system replacement. Shortly after closing, the buyer secured a tenant to fully occupy the 37,500-square-foot office and manufacturing building. James Duncan and Mickey Morera of Kidder Matthews represented Stos Partners in the transaction. C3Bank provided financing for the acquisition.

November 9, 2021

Acquisitions Industrial Massachusetts Northeast

CBRE Negotiates $17.6M Sale of Light Industrial Building in Mansfield, Massachusetts

by Taylor Williams November 9, 2021

MANSFIELD, MASS. — CBRE has negotiated the $17.6 million sale of an 81,596-square-foot light industrial building in Mansfield, located south of Boston. Built in 1986 and renovated in 2017, the property is located within the 50-acre Cabot Business Park and was fully leased to seven tenants at the time of sale. Scott Dragos, Chris Skeffington, Doug Jacoby, Anthony Hayes, Roy Sandeman, Tim Mulhall and Dan Hines of CBRE represented the seller, QS Forbes Boulevard LLC, in the transaction. Andrew Stone of CBRE arranged acquisition financing on behalf of the buyer, Connecticut-based investment firm Brickman.

November 9, 2021

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