Wednesday, July 16, 2025
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Industrial

AcquisitionsIllinoisIndustrialMidwest

MDH Partners Acquires 1.3 MSF Industrial Portfolio in Bedford Park, Illinois

by Kristin Harlow

BEDFORD PARK, ILL. — MDH Partners has acquired a 1.3 million-square-foot industrial portfolio in Bedford Park, an industrial suburb of Chicago. The purchase price was undisclosed. The portfolio comprises six buildings and one trailer lot. The buildings range in size from 120,000 to 380,000 square feet and feature clear heights from 22 to 28 feet. The portfolio is 96 percent leased to seven tenants, including Heligear Acquisition Co., Trimark Marlinn, Power Stop, Nexus Distribution, Westrock CP and Bus & Truck of Chicago Inc. FedEx Ground Package Systems Inc. leases the 150-stall trailer lot. The acquisition represents MDH’s entrance into the Chicago market. Houston Hawley led the acquisition for MDH. CBRE represented the undisclosed seller.

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IndustrialLeasing ActivityMidwestOhio

Kennametal Leases 125,000 SF Warehouse in Cleveland

by Kristin Harlow

CLEVELAND — Kennametal, a supplier of tooling and industrial materials, has leased a 125,000-square-foot warehouse at 18105 Parkway in Cleveland. Christopher Livingston, Jonathan Elson and Brad Totten of Avison Young represented the tenant in the lease transaction. Chelm Properties Inc. is the landlord. Kennametal’s headquarters are in Pittsburgh, but the company has operated in Cleveland for 22 years.

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IndustrialMidwestMissouri

ElmTree Funds Closes its Largest Commingled Fund with $888M of Investor Commitments

by Kristin Harlow

ST. LOUIS — St. Louis-based ElmTree Funds LLC has closed its largest commingled fund to date. Known as Net Lease Fund IV LP, the fund raised $888 million of investor commitments. Fund IV has approximately $2.5 billion in immediate investment capacity, of which roughly $800 million has been committed and deployed. The fund’s investor base is comprised of public and private pension plans, insurance companies, endowments and foundations. Fund IV targets investments in industrial and logistics assets across the United States. Annie Hsieh of ElmTree led the fundraising effort for Fund IV.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 469-Unit Self-Storage Facility in Houston

by Taylor Williams

HOUSTON — Marcus & Millichap has brokered the sale of Barker Cypress Self Storage, a 469-unit facility in Houston. Built on 2.9 acres in 1996 and expanded in 2003, the property consists of 130 climate-controlled units totaling 15,800 net rentable square feet and 339 non-climate-controlled units totaling 40,250 net rentable square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a family partnership, in the transaction. The buyer was not disclosed.

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DevelopmentIllinoisIndustrialMidwest

Scannell to Build 1.3 MSF Spec Industrial Development in Tinley Park, Illinois

by Kristin Harlow

TINLEY PARK, ILL. — Scannell Properties has unveiled plans to develop Tinley Business Park, a 1.3 million-square-foot speculative industrial project in Tinley Park, a southwest suburb of Chicago. The three-building development will offer immediate access to I-80, I-57 and I-294. The two larger buildings will feature a clear height of 36 feet, while the smaller building will feature a clear height of 32 feet. All buildings will have ample trailer and automobile parking. Construction is expected to begin next year. Sam Durkin, Scott Duerkop and Conor Mullady of JLL will market the project for lease.

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AcquisitionsIndustrialMidwestOhio

Dayton-Area Industrial Building Trades Hands for $10.8M

by Kristin Harlow

MIAMISBURG, OHIO — CBRE has arranged the $10.8 million sale of a 197,731-square-foot industrial building in Miamisburg, just south of Dayton. Located at 511 Byers Road, the one-story building was constructed in 1986 and is fully leased to four tenants. The property has undergone renovations since 2019, including parking improvements and new exterior paint. Steve Timmell, Will Roberts, Jeff Johnston, Chris Prosser and Doug Whitten of CBRE represented the seller, Industrial Commercial Properties LLC. Heritage Acquisitions LLC was the buyer.

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AcquisitionsIndustrialOfficeTexas

Partners Capital Sells 145,915 SF Flex Property in Houston

by Taylor Williams

HOUSTON — Partners Capital, the investment platform of Partners Real Estate Co., has sold Point West Business Park, a 145,915-square-foot flex property in Houston. Partners Capital originally acquired the three-building complex in 2019 and completed more than 25,000 square feet of new leases during its holding period. Cary Latham, Wyatt Huff and Josh Lass-Sughrue of NAI Partners represented the seller in the transaction. Fort Worth-based PHP Capital Partners purchased the asset for an undisclosed price.

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AcquisitionsIllinoisIndustrialMidwest

Darwin Realty/CORFAC International Brokers Sale of 13,418 SF Warehouse in St. Charles, Illinois

by Kristin Harlow

ST. CHARLES, ILL. — Darwin Realty/CORFAC International has brokered the sale of 13,418-square-foot warehouse in St. Charles, about 40 miles west of Chicago. Located at 860 Equity Drive, the property was built in 2006 and features a clear height of 18 feet, one dock door and one drive-in door. The building is utilized as a showroom and for storage space. Brendan Sheahan and Frank Damato of Darwin represented the buyer, a private investor. Ryan Corcoran of Corcoran Commercial Real Estate represented the seller, Pillar of Cloud LLC.

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AcquisitionsIndustrialNortheastPennsylvania

Phoenix Investors Buys 600,000 SF Industrial Property Near Pittsburgh

by Taylor Williams

MCKEESPORT, PA. — Phoenix Investors, a Milwaukee-based investment firm, has purchased a 600,000-square-foot industrial property in McKeesport, located southeast of Pittsburgh in Allegheny County. The property, which was built in 1963 and subsequently renovated in 2005 and 2018, is located on a 36-acre site approximately 35 miles southeast of Pittsburgh International Airport with proximity to Interstates 70 and 76. Ned Shekels of Pennsylvania Commercial Real Estate Inc. brokered the deal, the seller in which was not disclosed. Phoenix Investors expects to immediately commence upgrades to the facility to accommodate new tenant occupancy and market the available space for lease.

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AcquisitionsIndustrialNew JerseyNortheast

Avison Young Brokers Sale of 187,013 SF Paper Mart Industrial Facility in East Hanover, New Jersey

by Taylor Williams

EAST HANOVER, N.J. — Avison Young has brokered the sale of Paper Mart’s warehouse and distribution center in East Hanover, located in Morris County. The facility, which sits on a 9.2-acre site, has served as the paper and office products supplier’s headquarters since 1978. Matthew Turse, Timothy Cadigan and Grant Otto of Avison Young represented Paper Mart in the transaction. Tom Consiglio and Scott Peck of Resource Realty represented the buyer, Urban Edge Properties, a New York-based REIT that was spun off from Vornado Realty Trust in 2015.

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