Industrial

Mapleton Investments Acquires Industrial Property in Phoenix for $4.4M

by Amy Works August 20, 2021

PHOENIX — Mapleton Investments has purchased a freestanding industrial building located at 3269 E. Harbour Drive in Phoenix. Stephen M. Javinett Trust sold the asset for $4.4 million, or $150 per square foot. Situated within the Southbank Industrial Business Park, the property features 29,665 square feet of space. Constructed in 1989, the building features a 40/60 blend of office and warehouse space, 100 percent air conditioning, three grade-level doors, 1,000 amp, 277/480-volt power, 18-foot clear heights in the warehouse, moisture-abating industrial clerestory skylights, fenced rear yard and 96 parking spaces. Chris Toci and Chad Littell of Cushman & Wakefield’s Phoenix office represented the buyer, while Mike Parker of CBRE represented the seller in the deal.

August 20, 2021

Industrial Leasing Activity New Jersey Northeast

LOGON Signs 71,000 SF Industrial Lease Renewal, Expansion in Jersey City

by Taylor Williams August 20, 2021

JERSEY CITY, N.J. — Locally based printing and mailing firm LOGON has signed a 41,000-square-foot industrial lease renewal and added 30,000 square feet to its footprint at the Lackawanna Warehouse Building, a 1.5 million-square-foot industrial property in Jersey City. Dan Reider, Justin Pollner and John Crawford represented the tenant, which has occupied space at the property since 2004, in the lease renewal and expansion negotiations. Jeremy Modest represented the landlord, Solil Management Co., on an internal basis.

August 20, 2021

Extra-Space-Storage-Corrales-Rio-Rancho-NM

Acquisitions Industrial New Mexico Self-Storage Western

Titan Development Sells Four Self-Storage Facilities in New Mexico to Extra Space Storage

by Amy Works August 19, 2021

SANTA FE, ALBUQUERQUE AND RIO RANCHO, N.M. — Titan Development has completed the disposition of four self-storage assets in New Mexico. Extra Space Storage Inc. (NYSE: EXR) acquired the 380,000-square-foot portfolio for an undisclosed price. The properties are the 88,000-square-foot Extra Space Storage Vegas Verde and the 101,000-square-foot Extra Space Storage Rodeo Business Park in Santa Fe; the 103,000-square-foot Extra Space Storage Ladera Road and Unser Boulevard in Albuquerque; and the 88,000-square-foot Extra Space Storage Corrales and 528 in Rio Rancho. The facilities were the final four self-storage assets within Titan’s inaugural fund, Titan Real Estate Development Fund I (TDREF I), a $112 million private-equity real estate fund established in 2017 to raise and invest capital in $350 million of Titan’s investment opportunities across the industrial, multifamily, self-storage and seniors housing sectors.

August 19, 2021

Acquisitions Georgia Industrial Southeast

Dalfen Buys 60,000 SF Industrial Property in Norcross, Georgia

by Julia Sanders August 19, 2021

NORCROSS, GA. — Dalfen Industrial has bought 5250 Brook Hollow Parkway, a 60,000-square-foot, single-tenant industrial property in Norcross, a northeast suburb of Atlanta. This acquisition brings Dalfen Industrial’s Atlanta portfolio to almost 2 million square feet. The sales price and seller were not disclosed. Built in 1999, the infill property is located close to Interstates 85 and 285 and is approximately 20 miles from the Hartsfield-Jackson Atlanta International Airport. The property features high dock door counts and the potential for outside storage. The 5250 Brook Hollow Parkway property is 100 percent leased to Office Creations, a woman-owned business and office furniture and design retailer.

August 19, 2021

Industrial Leasing Activity Texas

Colliers Negotiates 134,800 SF Industrial Lease at Langfield Distribution Center in Houston

by Taylor Williams August 19, 2021

HOUSTON — Colliers International has negotiated a full-building, 134,800-square-foot industrial lease at Langfield Distribution Center in Houston. The newly built property sits on 8.5 acres and includes 32-foot clear heights, 56 employee parking spaces and 33 trailer parking stalls. John Nicholson and Trey Horne of Colliers represented the landlord, Boston-based Cabot Properties, in the lease negotiations. Billy Gold of CBRE represented the tenant, JFC International, a wholesaler and distributor of Asian food products.

August 19, 2021

Industrial Leasing Activity Texas

Fidelity Paper & Supply Signs 107,082 SF Industrial Lease in Grand Prairie, Texas

by Taylor Williams August 19, 2021

GRAND PRAIRIE, TEXAS — Fidelity Paper & Supply, a distributor of packaging supplies and materials, has signed a 107,082-square-foot lease within Heller Industrial Park in the central metroplex city of Grand Prairie. John Brewer and Riley Maxwell of Transwestern represented the landlord in the lease negotiations. Cameron Rogers with Rubicon Representation represented the tenant.

August 19, 2021

Industrial Loans Massachusetts Northeast

Axiom Capital Arranges $10M Loan for Refinancing of Cold Storage Facility in Avon, Massachusetts

by Taylor Williams August 19, 2021

AVON, MASS. — Axiom Capital Corp. has arranged a $10 million loan for the refinancing of a cold storage facility in Avon, located south of Boston. Built in 1988 and renovated between 2009 and 2012, the property features a clear height of 30 to 32 feet, 25 dock doors and 5.3 million cubic feet of storage space. An undisclosed life insurance company provided the seven-year, fixed-rate loan to the borrower, an undisclosed private owner/developer. The property has been leased to a global cold storage operator since 2013.

August 19, 2021

13255-S-Broadway-360-W132nd-St-Los-Angeles-CA

Acquisitions California Industrial Western

DAUM Commercial Negotiates Sale of 145,000 SF Industrial Complex in Los Angeles

by Amy Works August 18, 2021

LOS ANGELES — DAUM Commercial Real Estate Services has arranged the sale of a two-building industrial complex in the South Bay submarket of Los Angeles County. Newport Beach-based Hager Pacific Properties acquired the asset from a private party for $17.2 million. The property consists of a 108,000-square-foot building and a 37,000-square-foot building, with each leased to a single tenant. The asset is located at 13255 S. Broadway and 360 W.132nd St. The complex offers frontage on three streets, convenient access to major area freeways and close proximity to downtown Los Angeles and Long Beach. Michael Collins of DAUM Commercial represented the seller in the transaction.

August 18, 2021

Development Industrial Washington Western

GTIS Partners, Ryan Cos. to Develop 126,646 SF Last-Mile Industrial Project in Seattle

by Amy Works August 18, 2021

SEATTLE — GTIS Partners and Ryan Cos. have formed a joint venture to develop 65 S Horton St., a last-mile industrial/urban logistics property in Seattle. The project is expected to cost approximately $42.5 million. Totaling 126,646 square feet, the four-story building will offer dual freight elevator access to floors two through four, and the ground floor will feature a loading dock, shipping/receiving space, 10 covered docks and 85 parking spots. The site is located in one of the city’s qualified opportunity zones, adjacent to several Port of Seattle terminals and one mile south of downtown Seattle.

August 18, 2021

Acquisitions Arizona Industrial Office Western

Colton Commercial Brokers $8.5M Sale of Two-Building Ace Asphalt Property in Phoenix

by Amy Works August 18, 2021

PHOENIX — Colton Commercial has arranged the sale of the Ace Asphalt facility, a two-building property located at 3030 S. 7th St. in Phoenix. OP 3030 7th Property acquired the asset from Aceland LLC for $8.5 million. Situated on 29.4 acres, the property includes a 27,682-square-foot office building and an 11,788-square-foot service building. Ace Asphalt will continue its current lease at the site. Dan Colton of Colton Commercial represented the seller, while Pat Harlan of JLL’s Phoenix office represented the buyer in deal.

August 18, 2021

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