Industrial

Lowe’s Signs Lease for 60,000 SF Warehouse Development in Salem, Virginia

by Julia Sanders February 10, 2022

SALEM, VA. — Lowe’s Home Centers LLC has signed a lease for a 60,000-square-foot warehouse in Roanoke County’s Valley Tech Park in Salem. Roanoke, Va.-based Samet Corp. and North Carolina-based Valley Tech Partners LLC purchased the 8.5-acre site at 0 Technology Drive for the project. Construction is expected to begin in the first quarter and will be completed within a year. Boyd Johnson of Cushman & Wakefield | Thalhimer arranged the Lowe’s lease and land acquisition on behalf of the landlords.

February 10, 2022

Acquisitions California Industrial Western

DAUM Negotiates Acquisition of Two Industrial Buildings Totaling 208,180 SF in Fremont, California

by Amy Works February 10, 2022

FREMONT, CALIF. — DAUM Commercial Real Estate Services has arranged the purchase of two fully leased industrial properties in Fremont. CenterPoint Properties acquired the assets from an undisclosed seller for $86 million. Jordan Lara of DAUM represented the buyer in the deal. Situated on 13.7 acres at 41099 Boyce Road, the properties offer a total of 208,180 square feet of industrial space with 28-foot clear heights and a fully secured site.

February 10, 2022

Industrial Leasing Activity Texas

American Canning Signs 154,786 SF Industrial Lease Expansion at Park 183 in Austin

by Taylor Williams February 10, 2022

AUSTIN, TEXAS — American Canning, which provides packaging services for the beverage industry, has signed a 154,786-square-foot, full-building industrial lease expansion at Park 183 in southeast Austin. American Canning plans to take occupancy of its larger space at Building 5 this spring when it relocates from its 45,309-square-foot space in Building 2. A partnership between Dallas-based Trammell Crow Co. and New York-based Clarion Partners is developing the 950,000-square-foot park in phases. John Barksdale and Joe Novek of CBRE represented the landlord in the lease negotiations. CBRE’s Darryl Dadon represented the tenant.

February 10, 2022

Acquisitions Illinois Industrial Lee & Associates Midwest

Lee & Associates Arranges Sales of Two Industrial Buildings Totaling 168,636 SF in Illinois

by Kristin Harlow February 10, 2022

ST. CHARLES AND BATAVIA, ILL. — Lee & Associates has arranged the sales of two industrial buildings totaling 168,636 square feet in central Kane County, which is located west of Chicago. In the first transaction, a 102,000-square-foot building in St. Charles sold to a publicly traded REIT. Michael Androwich Jr. of Lee & Associates represented the buyer, while Jeff Holmes of Regional Realty represented the seller, Wise Plastics. In the second transaction, Androwich represented buyer WP Industries in its purchase of a 66,636-square-foot building at 1260 Kingsland Drive in Batavia. Ellerman Commercial represented the undisclosed seller.

February 10, 2022

Industrial Loans Michigan Midwest

Ready Capital Closes $3.5M Acquisition Loan for Detroit Industrial Property

by Kristin Harlow February 10, 2022

DETROIT — Ready Capital has closed a $3.5 million loan for the acquisition and lease-up of a roughly 75,000-square-foot industrial property in the Southern I-275 Corridor of Detroit. The undisclosed borrower plans to address deferred maintenance and lease up the vacant building. The nonrecourse loan features a two-year term, floating rate and interest-only payments.

February 10, 2022

Industrial Leasing Activity New Jersey Northeast

Logistics Firm Signs 164,500 SF Industrial Lease in Saddle Brook, New Jersey

by Taylor Williams February 10, 2022

SADDLE BROOK, N.J. — ReadySpaces, a provider of warehousing and logistics services for small businesses, has signed a 164,500-square-foot industrial lease at 575 N. Midland Ave. in Saddle Brook, located outside of New York City in Bergen County. According to LoopNet Inc., the property sits on 7.3 acres and features clear heights of 14 to 28 feet. A supplier of corrugated boxes most recently occupied the facility. Mike Davis and Noah Balanoff of Colliers represented ReadySpaces in the lease negotiations.

February 10, 2022

Acquisitions Connecticut Industrial Northeast

Matthews Negotiates Sale of 133,650 SF Industrial Property in New Haven, Connecticut

by Taylor Williams February 10, 2022

NEW HAVEN, CONN. — California-based brokerage firm Matthews Real Estate Investment Services has negotiated the sale of a 133,650-square-foot industrial property located near the Port of New Haven. Ryan Rapoport and Kyler Bean of Matthews represented the undisclosed seller in the transaction. New York-based Criterion Group LLC purchased the asset for $21.4 million.

February 10, 2022

Industrial Loans New Jersey Northeast Pennsylvania

Ready Capital Closes $22M Acquisition Loan for Industrial Portfolio in New Jersey, Pennsylvania

by Taylor Williams February 10, 2022

NEW YORK CITY — New York City-based Ready Capital has closed a $22 million loan for the acquisition, renovation and stabilization of a portfolio of six industrial properties that are located in various parts of New Jersey and Pennsylvania. The nonrecourse, interest-only loan carried a 48-month term and a floating interest rate, an extension option and a facility to fund capital improvements. The borrower was not disclosed.

February 10, 2022

Arizona Development Industrial Western

CapRock Breaks Ground on 3.4 MSF Spec Industrial Complex in Central Phoenix

by Amy Works February 9, 2022

PHOENIX — CapRock Partners has broken ground on CapRock West 202 Logistics, a 3.4 million-square-foot speculative infill industrial property in central Phoenix. Grading has commenced for the first phase of the 183-acre development. The first phase will include the development of approximately 140 acres, delivering 2.5 million square feet of modern industrial warehouse space across five Class A buildings with clear heights ranging from 36 feet to 40 feet. Completion of the first phase is slated for first-quarter 2023. Phase II will include an additional three buildings totaling 827,330 square feet on 43 acres. Timing of the second phase’s start will be announced at a later date. Willmeng Construction is serving as general contractor, Carlile Coatsworth Architects as architect and Kimley Horn as engineer.

February 9, 2022

Industrial Loans Midwest Ohio

Bloomfield Capital Provides $4M Bridge Loan for Cleveland Industrial Property

by Kristin Harlow February 9, 2022

CLEVELAND — Bloomfield Capital has provided a $4 million senior bridge loan for a 100,000-square-foot industrial property in Cleveland. The undisclosed borrower has owned the building for several years and plans to utilize the loan to finalize interior renovations and upgrades to the property, which is more than 90 percent leased to retail and food processing tenants. The borrower plans to refinance the bridge loan with a conventional loan in 12 months.

February 9, 2022

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