Industrial

LDK Ventures Sells 340,000 SF Warehouse in Sacramento for $42.8M

by Amy Works July 1, 2022

SACRAMENTO, CALIF. — LDK Ventures has completed the disposition of a warehouse building in Sacramento to Belvedere Logistics CA Property Owners for $42.8 million. Located at 8301 Belvedere Ave., the property features 340,000 square feet of industrial space. LDK Ventures originally acquired the asset in 2015 from a family trust. After purchase, LDK renewed both existing tenant leases and made building and site improvements, which included expansion of the interior, infill of existing rail tracks to create more usable floor space, and asphalt improvements to the site and parking areas. Rebecca Perlmutter, Darla Longo, Barbara Perrier, Brett Hartzell, Joe Cesta, Eric Cox, Michael Longo, Paige Morgan, Michael Luca and Ryan DeAngelis of CBRE represented LDK Ventures in the transaction.

July 1, 2022

Development Georgia Industrial Southeast

LPC Southeast to Develop Two Northwest Atlanta Industrial Properties Totaling 800,000 SF

by John Nelson July 1, 2022

KENNESAW AND CALHOUN, GA. — Lincoln Property Co. Southeast (LPC Southeast) has acquired land in the northwest Atlanta suburbs of Kennesaw and Calhoun to build two new industrial developments totaling 800,000 square feet. The development in Calhoun, a 400,000-square-foot industrial facility on Belwood Road just off I-75, will break ground in the third quarter and deliver in summer 2023. In Kennesaw, LPC Southeast has purchased a 175,000-square-foot facility and additional land directly off I-75 and a quarter-mile from Kennesaw State University. The land can accommodate up to 400,000 square feet of additional development. No construction timeline was given for the Kennesaw project. LPC Southeast’s Turner Fortin and Colin Beecham will oversee construction, marketing and leasing of both buildings.

July 1, 2022

Acquisitions Industrial North Carolina Southeast

JLL Brokers Sale of 475,901 SF Distribution Center in North Carolina’s Triad Region

by John Nelson July 1, 2022

WHITSETT, N.C. — JLL has brokered the sale of Greensboro I-40 Logistics Center, a newly built, 475,901-square-foot distribution center located in the Triad community of Whitsett. The Class A property is situated on 47.2 acres along the I-40 corridor near Greensboro, N.C. The developer, Atlanta-based Intersect Development Group, sold Greensboro I-40 Logistics Center to BentallGreenOak for an undisclosed price. Luis Castillo, Patrick Nally, Britton Burdette and Cody Brais of JLL represented the seller in the transaction. Paul Spellman, Taylor Allison and Emma Buch, also with JLL, arranged an undisclosed amount of acquisition financing on behalf of BentallGreenOak.

July 1, 2022

Acquisitions Illinois Industrial Midwest

NAI Hiffman Brokers Sale of Seven-Building Industrial Portfolio in Metro Chicago

by Kristin Harlow July 1, 2022

CHICAGO — NAI Hiffman has brokered the sale of the Chicago Strategic Logistics Portfolio for an undisclosed price. The seven-building portfolio totals 1.4 million square feet. The assets are located throughout metro Chicago and are fully leased by 12 tenants. Patrick Sullivan and Ryan Chambers of NAI Hiffman represented the undisclosed seller. The buyer was Ascendas Real Estate Investment Trust, a member of CapitaLand Investments, which is headquartered in Singapore.

July 1, 2022

Acquisitions Industrial Texas

Fort Capital Buys 459,812 SF Light Industrial Portfolio in Northwest Houston

by Taylor Williams July 1, 2022

HOUSTON — Fort Worth-based investment firm Fort Capital has acquired a portfolio of 19 light industrial buildings totaling 459,812 square feet in northwest Houston. At the time of sale, the Class B portfolio was 98 percent leased to 93 tenants in the mechanical, logistics, furniture and fabrication sectors, among others. The seller and sales price were not disclosed.

July 1, 2022

Illinois Industrial Leasing Activity Midwest

Partners Supply Chain Solutions Signs 50,007 SF Industrial Lease in Carol Stream, Illinois

by Kristin Harlow July 1, 2022

CAROL STREAM, ILL. — Partners Supply Chain Solutions (PSCS) has signed a 50,007-square-foot industrial lease at 189 Easy St. in the Chicago suburb of Carol Stream. The lease represents a 25 percent increase in space from the company’s current location at 171 Gary St. in Carol Stream. PSCS expects to take occupancy of its new space in August. Built in 1996, the property spans 75,538 square feet and features 10 docks. Jay Cook of Cresa represented PSCS, which operates bulk and rail operations in more than 1 million square feet in Elmwood. The Carol Stream facility will serve as its specialized operations center, housing food and pharmaceuticals and high-value inventory. Philadelphia-based EQT Exeter owns the building.

July 1, 2022

Acquisitions Industrial Texas

Realterm Acquires 186,344 SF Distribution Center Leased to Amazon in Arlington

by Taylor Williams July 1, 2022

ARLINGTON, TEXAS — Global investment manager Realterm has acquired a 186,344-square-foot distribution center in Arlington that is leased to Amazon on a triple-net basis. The facility was originally built on 15.5 acres in 1987 and was upgraded in 2020 to support last-mile distribution. Building features now include 29-foot clear heights, 10 dock-high doors and 338 van parking spaces. John Huguenard, Dustin Volz, Trent Agnew, Stephen Bailey, Dom Espinosa, Zach Riebe and Megan Babovec of JLL represented the seller, Oxford Properties, in the transaction.

July 1, 2022

Industrial Leasing Activity New Jersey Northeast

Showman Fabricators Signs 78,000 SF Industrial Lease in Fairfield, New Jersey

by Taylor Williams July 1, 2022

FAIRFIELD, N.J. — Custom metal products provider Showman Fabricators has signed a 78,000-square-foot industrial lease at 15 Law Drive in the Northern New Jersey community of Fairfield. The newly renovated facility features a clear height of 18 feet and four loading docks. Chuck Fern, Thomas Tucci, Torsten Thaler and Natalie Gorga of Cushman & Wakefield represented both Showman Fabricators and the landlord, The STRO Cos., in the lease negotiations.

July 1, 2022

Acquisitions Industrial Texas

JLL Negotiates Sale of 791-Unit Self-Storage Facility in Metro Houston

by Taylor Williams June 30, 2022

SUGAR LAND, TEXAS — JLL has negotiated the sale of Imperial Self Storage, a 791-unit facility located in the southwestern Houston suburb of Sugar Land. Operated by CubeSmart, the property features 94,220 net rentable square feet of climate-controlled space. Steve Mellon and Brian Somoza of JLL represented the seller, SurePoint Self Storage, in the transaction. OB Cos./My Place Self Storage, an investment firm launched by Simply Self Storage founder and former CEO Kurt O’Brien, purchased the facility for an undisclosed price.

June 30, 2022

Development Industrial Texas

Archway Properties to Develop 429,027 SF Industrial Project in Irving

by Taylor Williams June 30, 2022

IRVING, TEXAS — Archway Properties, a developer with offices in Houston and Dallas, will build Royal 114, a 429,027-square-foot industrial project in Irving. Royal 114 will consist of four rear-load buildings that will range in size from 46,261 to 155,050 square feet and will feature 28- to 32-foot clear heights. Pross Design Group is the project architect, and Peinado Construction is the general contractor. Transwestern will lease the property. Construction is set to begin later this summer and to be complete in the first quarter of 2023.

June 30, 2022

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