PORT NECHES, TEXAS — Marcus & Millichap has brokered the sale of Eagle Climatized Storage, a 237-unit self-storage facility in Port Neches, located outside of Beaumont near the Louisiana-Texas border. The facility was built on 3.5 acres in 2003, and all of the units feature climate-controlled space. Dave Knobler of Marcus & Millichap represented the seller, a Georgia-based private investor, in the transaction. Brandon Karr and Danny Cunningham, also with Marcus & Millichap, also procured the buyer, a Texas-based limited liability company. Both parties requested anonymity.
ELIZABETH, N.J. — JLL has negotiated the sale of a 138,642-square-foot cold storage facility located in the Northern New Jersey community of Elizabeth. Built in 2016, the property features 60-foot clear heights, 18 temperature-controlled loading docks and 4,800 square feet of office space. In addition, the property was fully leased to Seafrigo Cold Storage at the time of sale. Michael Oliver, Marc Duval, Jordan Avanzato, Nicholas Stefans and Jose Cruz of JLL represented the undisclosed buyer in the transaction. The seller, a joint venture between The Avidan Group and Elberon Development Group, was represented in-house.
PHOENIX — GO Industrial has purchased land parcels on the east and west sides of Phoenix for the development of approximately 1.3 million square feet of space in two speculative industrial projects: GO | 99 North and GO | AZ Ave. Located on the west side of Phoenix, GO | 99 North will be a 1.1 million-square-foot facility situated on 70 acres. The building will feature 40-foot clear heights, concrete truck courts, and 217 trailer and 1,315 auto parking stalls. Groundbreaking is slated for third-quarter 2022. The building is the continuation of GO Industrial’s 1.3 million-square-foot GO | 99 industrial project, which is now under construction. Together, the two projects will bring a total of 2.4 million square feet to the area. Located on the East Valley, GO | AZ Ave. will be a 181,655-square-foot building on 10 acres. The facility will feature 32-foot clear heights, concrete truck courts, and 53 trailer and 212 auto parking stalls. Construction is scheduled to begin during the second quarter of 2022. DLR Group is serving as architect for both projects. General contractors have not yet been selected. Andy Markham, Mike Haenel and Phil Haenel of Cushman & Wakefield represented GO Industrial in the …
SPRING VALLEY, NEV. — Alston Construction, as general contractor, has unveiled plans for a 298,389-square-foot industrial facility located at W. Sunset Road and Raphael Riviera Way in Spring Valley, for Ashley Furniture Industries. The project will include tilt-up construction, full-site improvements, paving, concrete and landscaping. The warehouse will offer a retail showroom component and a distribution center. Construction is slated to begin in June 2022, with completion scheduled for July 2023. Hodgdon Group will serve as developer and Robert Jacob will serve as architect.
GEORGETOWN, TEXAS — CelLink Corp. has signed a 294,297-square-foot industrial lease at Gateway35 Commerce Center, a master-planned park by Titan Development that is located in the northern Austin suburb of Georgetown. The tenant, which manufactures circuits for batteries used in the automotive and energy storage industries, will occupy the entirety of Building 1 upon completion in June. In addition, CelLink plans to hire between 800 and 2,000 employees over the next 10 years and invest about $130 million in the local economy over the next five years.
MIAMI — Talonvest Capital has arranged a $21.4 million loan for a new self-storage facility in Miami. Situated near Interstate 95 and Miami’s Wynwood district, the seven-story property spans 106,940 square feet and comprises 1,100 climate-controlled units. An unnamed private investment firm based in New York provided the loan to the borrower, SpareSpace Storage, a locally based owner-operator. The firm will use the three-year loan to refinance construction debt and also finance the phased buildout of the facility. David DiRienzo, John Chase, Jim Davies, Ivan Viramontes, and Thalia Tovar of Talonvest Capital originated the loan, which features interest-only payments for the life of the loan with two 12-month extension options.
CHARLESTON, S.C. — Frampton Construction Co. has broken ground on a “transload” industrial facility near the Port of Charleston spanning 89,000 square feet. The Keith Corp. is developing the property in partnership with the South Carolina Ports Authority on behalf of the tenant, TradePort Logistics. The third-party logistics firm handles cargo for retailers like Walmart, which recently opened its 3 million-square-foot distribution hub nearby. TradePort’s concrete, tilt-up building will feature 20-foot clear heights, 130 dock doors, 630 trailer parking spaces and 110 employee parking spaces, as well as approximately 2,000 square feet of office space. The site is located off Clements Ferry Road. An access road is being built to connect the facility to Charleston Regional Parkway, according to Frampton. Other project members include architect Berenyi Inc. and civil engineer Thomas + Hutton. Frampton expects to deliver the facility this summer.
ELK GROVE VILLAGE, ILL. — Lee & Associates has negotiated two industrial leases totaling 48,070 square feet in Elk Grove Village. In the first transaction, Arrow Trans Corp. inked a 42,070-square-foot lease at 2001 Estes Ave. Brad Simousek and Michael Plumb of Lee represented the tenant, while John D’Orazio and Jonathan Kohn of Colliers represented the owner, Link Logistics Real Estate. In the second transaction, Simousek represented Crown Roll Leaf in its lease of 6,000 square feet at 689 Chase Ave. Dustin Albers, Andrew Maletich and Matt Garland of Cawley Chicago represented the undisclosed owner.
ZANESVILLE, OHIO — Marcus & Millichap has arranged the sale of Premier Storage of Zanesville for an undisclosed price. The self-storage facility consists of 102 non-climate-controlled units totaling 14,400 net rentable square feet. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller. Zanesville is located about 50 miles east of Columbus. Buyer and seller information was not provided.
By Pat Harlan, Managing Director, JLL Labor, geography, population growth and a steady stream of cost-effective, “speed to market” solutions make Phoenix one of the most dynamic industrial markets in the country. Based on existing fundamentals, 2022 is on track to be another record year. As of third-quarter 2021, Phoenix had landed just under 16 million square feet of net leasing year-to-date. Absorption had improved by more than 28.5 percent in the same 12-month period, to total 8.5 million square feet. Nearly 94 percent of that activity was generated from ecommerce and food and beverage users. Vacancy had also dipped to pre-pandemic levels, falling by 100 basis points year-over-year to just 6.8 percent as of the end of the third quarter of 2021. Construction continues to ramp up, trying to meet a seemingly unending stream of demand. As of the end of the third quarter, there was 16.6 million square feet of metro Phoenix industrial space under development. The West Valley accounts for about 11.3 million square feet of this activity. The Southeast Valley represents an additional 3.4 million square feet. Two of the largest buildings underway in the market right now are the Cubes Glendale, totaling 1.2 million square feet, and Building …