AUSTIN, TEXAS — Priority Capital Advisory (PCA), a Los Angeles-based financial intermediary, has arranged a loan of an undisclosed amount for the refinancing of Chapman 71, an industrial outdoor storage (IOS) facility in South Austin. Built in the 1970s, the property consists of seven buildings on a 13-acre site at 5001 E. Ben White Blvd. Building features include 12 dock-high doors, 23 grade doors, 25 parking spaces and 16- to 25-foot clear heights. An undisclosed bank provided the nonrecourse financing to the owner, Austin-based PlaceMKR, which will use the proceeds to cash out and recapitalize the property. Chapman 71 was fully leased at the time of the loan closing.
AUSTIN, TEXAS — Quantic Wenzel has opened its new 45,000-square-foot headquarters facility in Austin. The electronics manufacturer relocated from a site about a quarter-mile away to 1835A Kramer Lane on the city’s north side. The new facility features a cleanroom, expanded engineering labs and optimized manufacturing areas to enhance production. Bo Beacham, John Barksdale, Mark Emerick and Kyle Lewis of CBRE represented Quantic Wenzel in its site selection and lease negotiations.
CHARLOTTE, N.C. — JLL has negotiated the sale of a five-property industrial portfolio spanning 652,647 square feet in submarkets in the Charlotte and Raleigh-Durham areas. The specific properties were not released. Pete Pittroff, Michael Scarnato, Dave Andrews and Michael Lewis of JLL represented the seller, LM Real Estate Partners, in the transaction. Lightstone purchased the portfolio for an undisclosed price. Peter Rotchford and Taylor Allison of JLL arranged a seven-year, fixed-rate acquisition loan for Lightstone through Voya Investment Management. According to JLL, the portfolio offered a value-add opportunity to the buyer as there is 116,000 square feet of availability and in-place rents roughly 27 percent below market rates. The 12 tenants in the portfolio have about 3.6 years of WALT (weighted average lease term) remaining.
CHEYENNE, WYO. — Earthcore Industries, a Jacksonville, Fla.-based manufacturer and distributor of Isokern fireplaces and chimney systems, is constructing a distribution center in Cheyenne. The 30,000-square-foot facility will streamline Earthcore’s service to its Northwest and Upper Midwest distribution and dealer networks. The project team includes Cheyenne-based Richardson Construction Co. and Fort Collins, Colo.-based VFLA Architecture + Interiors. Groundbreaking is scheduled for April 10.
SWEDESBORO, N.J. — Locally based investment firm Alterra IOS (industrial outdoor storage) has purchased a 4.9-acre facility located outside of Philadelphia in Swedesboro. The site at 223 Paulsboro Road is located 20 miles from Philadelphia International Airport and 30 miles from the Port of Philadelphia and was fully leased at the time of sale to equipment rental company Sunbelt Rentals. Scott Mertz of NAI Mertz brokered the deal. The seller was not disclosed.
COLUMBUS, OHIO — BGO and Crawford Hoying have sold a LEED Gold-certified cold storage facility in Columbus for $75.7 million. The 179,000-square-foot speculative development was completed in January. The project features refrigeration and storage technology to support modern food distribution. Contegra Construction was the general contractor, and CBRE was the leasing agent. The buyer was undisclosed.
OHIO, MICHIGAN AND WISCONSIN — MAG Capital Partners has purchased a 352,625-square-foot industrial portfolio in a sale-leaseback with Robbins Sports Surfaces, a Cincinnati-based manufacturer of high-performance flooring systems. The properties are located in Ohio, Michigan and Wisconsin and comprise manufacturing, warehouse, lumber processing, milling, finishing, assembly and office space across more than 111 acres. Phil DiGennaro and Joe DiGennaro of STREAM Capital Partners represented the seller.
ROSELLE, ILL. — Industrial Outdoor Ventures (IOV) has acquired an industrial outdoor storage (IOS) property located at 160 N. Garden Ave. in Roselle. The 5.7-acre property features a 28,964-square-foot maintenance building and a 1,350-square-foot standalone office. The maintenance building features 13 drive-thru service bays and four additional drive-in doors. IOV plans to make improvements to the facility as part of a leasing initiative. With this acquisition, IOV owns seven Chicago-area assets totaling 90 acres with approximately 158,500 square feet of buildings for storage, maintenance and complementary uses. Matt Garland of Cawley represented the seller, a regional cell tower construction and maintenance company. Garland and Andrew Maletich of Cawley have been named the leasing agents for the property.
CHANDLER, ARIZ. — Unbound Development of Phoenix has acquired a freestanding industrial building in Chandler from Rogers Corp. for $14 million. Located at 165 S. Price Road, the 100,000-square-foot property was vacant at the time of sale. Built in 1982 and renovated in 2005, the building features 8,400 amps of power, expandable to 150 megawatts, an oversized lot and Loop 101 freeway frontage. The single-tenant property is situated on 16.7 acres. Unbound Development plans to upgrade the property to meet the needs of today’s users. Joshua Wyss and Steven Mardian of Cushman & Wakefield represented the seller, while Michael Kitlica of Cushman & Wakefield represented the buyer in the transaction.
WESTLAND, MICH. — Marcus & Millichap has arranged the sale of Five Star Store It, a 1,103-unit self-storage property in the Detroit suburb of Westland. The sales price was undisclosed. The facility sits on 22 acres at 5235 S. Merriman Road and features 30 climate-controlled units, 774 non-climate-controlled units and 229 parking spaces totaling 115,707 net rentable square feet. A retail component on the property will be converted into climate-controlled storage. Brett Hatcher, Gabriel Coe and Nathan Coe of Marcus & Millichap represented the private regional seller and procured the buyer, MyPlace Storage.