Industrial

VanTrust Completes 514,135 SF Spec Industrial Development in El Paso, Signs Three Tenants

by Taylor Williams February 24, 2022

EL PASO, TEXAS — Kansas City-based developer VanTrust Real Estate has completed Phase I of El Paso Logistics Park, a speculative project that consisted of four industrial buildings totaling 514,135 square feet. VanTrust has also executed three new leases at these buildings totaling roughly 187,000 square feet. David Hingst of PIRES International represented OLA Logistics LLC, which leased 76,848 square feet at Building 3; Steve Berger and Chad McCleskey of CBRE represented Interceramic Inc., which inked a deal for 44,410 square feet at Building 3; and Andres Sandoval of CBRE represented Buckland Global Trade Services Inc, which committed to 66,065 square feet at Building 4. Bill Caparis and Arturo De La Mora of CBRE El Paso represented VanTrust in each of those deals.

February 24, 2022

Development Industrial Texas

Trammell Crow, Clarion Partners Break Ground on 308,484 SF Industrial Project in Austin

by Taylor Williams February 24, 2022

AUSTIN, TEXAS — A partnership between Dallas-based Trammell Crow Co. and New York-based Clarion Partners has broken ground on the final phase of Park 183, a 950,000-square-foot industrial development in southeast Austin. The fourth and final phase of the project will add two buildings totaling 308,484 square feet to the local supply. The buildings will span 160,327 and 148,157 square feet and will feature 32-foot clear heights. STG Design is the architect for Phase IV, and Tribble & Stephens is the general contractor. Comerica Bank provided construction financing. CBRE has been tapped as the leasing agent and recently secured a 154,786-square-foot expansion for American Canning at Park 183. Completion of Phase IV is slated for the fourth quarter.

February 24, 2022

Industrial Loans New Jersey Northeast

Signature Bank Funds $39M Loan for Refinancing of New Jersey Industrial Portfolio

by Taylor Williams February 24, 2022

RIDGEWOOD, N.J. — Signature Bank has funded a $39 million loan for the refinancing of a portfolio of eight industrial properties totaling approximately 395,000 square feet that are located in various areas of Northern New Jersey. Specifically, the warehousing and logistics facilities are located in Woodbridge, Moonachie, Clifton, Woodland Park, Wyckoff and Roselle. Zachary Bermudez led the Signature Bank team that originated the financing on behalf of the borrower, New Jersey-based STRO Cos.

February 24, 2022

Industrial Kentucky Leasing Activity Southeast

Dermody Properties Signs Healthcare Manufacturer to 208,320 SF Industrial Lease in Louisville

by Julia Sanders February 24, 2022

LOUISVILLE, KY. — Reno, Nev.-based Dermody Properties has signed a lease for a 208,320-square-foot space in LogistiCenterSM at Louisville Airport Building 3. Leasing the space is Fisher & Paykel Healthcare, a designer, manufacturer and marketer of products and systems for use in acute and chronic respiratory care, surgery and the treatment of obstructive sleep apnea. Kevin Grove of CBRE represented Fisher & Paykel Healthcare in the lease transaction, and Tom Sims of CBRE represented Dermody Properties. Beginning this summer, Fisher & Paykel will occupy the entire building to use as a distribution hub. The firm will be relocating jobs from within the region to this new location. The building is situated on 41 acres within the Louisville Renaissance Zone, which is home to many logistics and manufacturing companies including UPS Worldport and Ford Motor Co. The property is located within two miles of Louisville Muhammad Ali International Airport. Across from the property is Dermody’s LogistiCenter at Louisville Airport Building 2, which offers 203,840 square feet of logistics space.

February 24, 2022

Acquisitions Arizona Industrial Western

Martens Development, Dune Real Estate Sell Seven-Building Industrial Portfolio in Mesa for $130M

by Amy Works February 24, 2022

MESA, ARIZ. — A joint venture between Scottsdale-based Martens Development and New York City-based Dune Real Estate Partners have completed the disposition of Landing 3, a newly completed Class A industrial development in Mesa. An affiliate of Cohen Asset Management and ASB Real Estate Investments acquired the asset for $130 million. Located at 7827-8009 E. Ray Road, Landing Phase III was built in 2021 and features 525,342 square feet of industrial space spread across seven buildings. Landing 3 is part of the multi-phase, master-planned industrial project known as The Landing, which totals 858,901 square feet. Landing 3 consists of seven freestanding light industrial buildings and a cross-dock facility, all with 36-foot clear heights, 100 percent concrete throughout, loading and heavy parking, ESFR sprinklers and fenced yards. At the time of sale, Landing 3 was 100 percent leased to a diversified tenant mix. Will Strong, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West, as well as Adam Spies and Marcella Fasulo of Cushman & Wakefield’s New York Capital Markets team, represented the seller in the deal. Rob Rubano and Brian Share of Cushman & Wakefield’s Equity, Debt & Structured Finance team arranged financing …

February 24, 2022

15443-Fairland-Ranch-Road-Chino-Hills-CA

Acquisitions California Industrial Self-Storage Western

Buchanan Street Partners Acquires 920-Unit Self-Storage Facility in Chino Hills, California

by Amy Works February 24, 2022

CHINO HILLS, CALIF. — Newport Beach, Calif.-based Buchanan Street Partners has purchased a newly constructed, three-story self-storage facility located at 15443 Fairland Ranch Road in Chino Hills. A private developer sold the asset for $24.5 million in an off-market deal. The 95,500-square-foot property features 920 climate-controlled units. Westport Properties will serve as third-party manager for the facility, which will operate under the US Storage Centers brand. The transaction marks the third California self-storage facility purchased by Buchanan within the last 12 months.

February 24, 2022

Acquisitions Arizona Industrial Western

ScanlanKemperBard Acquires 620,000 SF Distribution Center in Glendale, Arizona

by Amy Works February 23, 2022

GLENDALE, ARIZ. — ScanlanKemperBard and an institutional investor have purchased a 620,000-square-foot Class A industrial distribution center in Glendale. Slate Real Estate Capital, the private credit business of Slate Asset Management, provided a $46.3 million senior loan facility to the buyers. Ramsey Daya and Grant Gooding of Newmark represented the borrower in the transaction.

February 23, 2022

Acquisitions Florida Industrial Southeast

JLL Arranges Sale of 235,200 SF Industrial Building in Jacksonville

by Julia Sanders February 23, 2022

JACKSONVILLE, FLA. — JLL Capital Markets has arranged the sale of Crossroads Building 300, a 235,200-square-foot industrial building in Jacksonville. Britton Burdette, Luis Castillo, Mitchell Townsend, Cody Brais and Luke Pope of JLL represented the private, undisclosed seller. Principal Real Estate Investors acquired the asset for an undisclosed price. Completed this year, Crossroads Building 300 features 32-foot clear heights, deep truck courts, a rear-load configuration, 56 dock-high doors, 43 trailer stalls, ESFR fire protection, LED lighting and ample parking. The property is fully leased to two tenants, CarParts.com and Drummond Press Inc. Located at 6610 Pritchard Road, the property is situated within the master-planned Crossroads Distribution Center with immediate access to Interstate 295. Additionally, Crossroads Building 300 is close to Interstates 10 and 95.

February 23, 2022

Acquisitions Georgia Industrial Southeast

Westmount Realty Capital Purchases 191,526 SF Industrial Portfolio in Metro Atlanta

by Julia Sanders February 23, 2022

NORCROSS, GA. — Dallas-based Westmount Realty Capital has purchased Atlanta Plaza 85, an infill industrial portfolio in the northeast Atlanta suburb of Norcross. The sales price and seller were not disclosed. Atlanta Plaza 85 is a 191,526-square-foot portfolio featuring nine flex/light industrial buildings, with each building averaging 21,281 square feet. The Atlanta Plaza 85 portfolio offers direct access to Interstates 85 and 285 and Jimmy Carter Boulevard. Built between 1979 and 1987, the portfolio was 91.9 percent leased at the time of sale to 49 tenants. Westmount Realty Capital plans to make capital upgrades of more than $1 million over the next five years, including roof replacements and repairs, corridor upgrades, space conversion and HVAC and paving repairs.

February 23, 2022

Acquisitions Illinois Industrial Midwest

JLL Brokers Sale of 906,517 SF Industrial Facility in Joliet, Illinois

by Kristin Harlow February 23, 2022

JOLIET, ILL. — JLL Capital Markets has brokered the sale of Clarius Park Joliet Building 2, a 906,517-square-foot industrial facility in Joliet. The sales price was undisclosed. Lion Electric occupies the building, which features a clear height of 40 feet, 107 dock-high doors, 16 drive-in doors and 213 trailer stalls. John Huguenard, Sean Devaney and Peter Moriarty of JLL represented the seller, a partnership between Clarius Partners LLC and Walton Street Capital LLC. Dominic Carbonari, Rob Wheeler and Michael Connor of JLL assisted in the sales transaction after completing the lease on behalf of the seller. Avison Young Investment Management was the buyer.

February 23, 2022

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