Industrial

Dalfen Industrial Expands California Portfolio, Acquires Two Industrial Properties

by Amy Works March 29, 2022

SAN DIEGO AND STOCKTON, CALIF. — Dalfen Industrial has purchased Otay Mesa Logistics Center in San Diego and Stockton Supply Chain Center III in Stockton. Terms of the transactions were not released. Built in 2005, the 62,875-squarf-foot Otay West Logistics Center features 24-foot clear heights, a 170-foot truck court, 15 dock-high doors, four drive-in doors and ample parking. At the time of sale, the property was fully leased to DHL. Rob Hixson of CBRE handled the transaction. Located at 2230-2248 Stagecoach Road, the two-building Stockton Supply Chain III features 121,280 square feet of industry property. The property is fully occupied, with Fairview Distribution as the largest tenant. Mike Goldstein, Ryan McShane and Alex Hoeck of Colliers International brokered the off-market deal.

March 29, 2022

Acquisitions Florida Industrial Southeast

AGS Properties Acquires 112,000 SF Last-Mile Industrial Facility in Metro Tampa

by Julia Sanders March 29, 2022

GIBSONTON, FLA. — AGS Properties has acquired a newly constructed, last-mile delivery facility located within Tampa Regional Industrial Park in Gibsonton, about 15.6 miles from Tampa. Tampa Regional Industrial Park is a master-planned distribution park that totals 1.4 million square feet and includes tenants such as Republic National Distributing Co. and Siemens Corp. Mike Davis, Rick Brugge, Rick Colon, Dominic Montazemi, Zachary Eicholtz and Kayla Hankins of Cushman & Wakefield represented the undisclosed seller in the transaction. The sales price was not disclosed. Built in 2022, the facility totals 112,000 square feet and was fully leased at the time of sale to an unnamed e-commerce company. Property amenities include LED lighting, 32-foot minimum clear heights, a 9 per 1,000-square-foot parking ratio and direct access to Interstate 75, U.S. Highway 41 and the Port of Tampa. The facility also offers future development capabilities through a 44,000-square-foot expansion of the existing facility and construction of an additional 198,000-square-foot facility. Located at 13010 Bay Industrial Drive, the property is situated 25.4 miles from Tampa International Airport.

March 29, 2022

Data Centers Development Industrial Midwest Missouri

Meta to Build $800M Data Center in Kansas City

by Kristin Harlow March 29, 2022

KANSAS CITY, MO. — Meta Platforms Inc., formerly known as Facebook Inc., plans to build a nearly 1 million-square-foot data center in Kansas City. Meta will invest more than $800 million for the project, which will support up to 100 jobs. The facility is expected to be operational in 2024. The data center will be located in Golden Plains Technology Park, a 5.5 million-square-foot data center campus. The site will be supported by 100 percent renewable energy. Meta plans to use the Data Center Sales Tax Exemption Program, a tool that incentivizes the location and expansion of data centers in the state of Missouri.

March 29, 2022

Acquisitions Arizona Industrial Western

Oxford, EverWest Acquire Chandler Airpark in Arizona for $26.3M

by Amy Works March 28, 2022

CHANDLER, ARIZ. — A joint venture between Oxford Properties Group and EverWest Real Estate Investors has acquired Chandler Airpark, a Class A industrial portfolio located in Chandler, for $26.3 million. The transaction completes the acquisition of a three-building, 261,940-square-foot, Class A industrial portfolio that was recently built. Chandler Airpark comprises 148,830 square feet in two buildings totaling 82,119 square feet and 66,711 square feet, respectively. Each building features 28-foot clear heights, dock-high and ground-level loading positions, concrete truck courts and generous power and parking. Oxford and EverWest began the acquisition of the portfolio in late 2021, with the purchase of 800 E. German Road for $20 million. Last month, the companies announced the building’s full, 113,100-square-foot lease-up to a sustainable technology company. Chandler Airpark and 800 E. German are located along E. German Road. Together the portfolio totals 261,940 square feet. Amr Ceran and Erik Good of EverWest arranged the transaction. Will Strong of Cushman & Wakefield brokered the sale.

March 28, 2022

Acquisitions California Industrial Western

Cohen Asset Management Purchases 65,000 SF Industrial Building in Pico Rivera, California

by Amy Works March 28, 2022

PICO RIVERA, CALIF. — Cohen Asset Management has purchased an industrial property located at 8640 Slauson Ave. in Pico Rivera. Terms of the transaction were not released. At the time of sale, the 65,000-square-foot building was 100 percent leased.

March 28, 2022

Development Industrial Texas

Stonemont Financial to Develop 230,000 SF Spec Industrial Project in Metro Austin

by Taylor Williams March 28, 2022

GEORGETOWN, TEXAS — Atlanta-based Stonemont Financial Group has acquired an 18-acre site just off Interstate 35 in the northern Austin suburb of Georgetown for the development of a 230,000-square-foot speculative industrial project. Westinghouse35 will feature a rear-load configuration, 32-foot clear heights and 58 dock doors, as well as up to 345 auto parking stalls and 68 full-size trailer parking stalls. Project partners include architecture firm GMA, civil engineer Kimley-Horn, design-build firm ARCO/Murray and leasing agent KBC Advisors. Completion is slated for the first half of 2023.

March 28, 2022

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 57,607 SF Industrial Lease in West Dallas

by Taylor Williams March 28, 2022

DALLAS — Lee & Associates has negotiated a 57,607-square-foot industrial lease at 119 Regal Row in the Brookhollow submarket of West Dallas. The property spans 182,149 square feet and features 28-foot clear heights, 115-foot truck court depths and 10 trailer stalls. Stephen Williamson and Matthew Johnson of Lee & Associates represented the landlord, Dogwood Industrial Properties, which acquired the asset in 2019, in the lease negotiations. The name and representative of the tenant were not disclosed.

March 28, 2022

Acquisitions Industrial Midwest Ohio Self-Storage

Marcus & Millichap Brokers Sale of Self-Storage Portfolio in Ohio

by Kristin Harlow March 28, 2022

COLUMBUS AND DUBLIN, OHIO — Marcus & Millichap has brokered the sale of a portfolio of three Tri-Village Self Storage facilities in Ohio for an undisclosed price. The properties, totaling 1,653 units, are located at 3490 Trabue Road in Columbus, 1123 Goodale Blvd. in Columbus and 5235 Avery Run Road in Dublin. Gabriel Coe and Brett Hatcher of Marcus & Millichap brokered the transaction. Buyer and seller information was not provided.

March 28, 2022

Indiana Industrial Leasing Activity Midwest

Kuehne+Nagel Signs Two Industrial Lease Renewals Totaling 115,395 SF in Indianapolis Market

by Kristin Harlow March 28, 2022

PLAINFIELD, IND. — Kuehne+Nagel, a Switzerland-based global transport and logistics company, has signed two industrial lease renewals totaling 115,395 square feet in Plainfield, a suburb of Indianapolis. Chicago-based HSA Commercial Real Estate owns the properties, which are located within Gateway Business Park near the Indianapolis International Airport. Kuehne+Nagel renewed its 59,895-square-foot lease at Gateway Industrial III as well as its 55,500-square-foot lease at Gateway Industrial IV. HSA has developed and leased up six buildings at Gateway Business Park totaling roughly 900,000 square feet. A seventh building is slated for completion later this month. Mark Writt of CBRE represented Kuehne+Nagel in both leases. Terry Busch and Jared Scaringe of CBRE represented ownership.

March 28, 2022

Acquisitions Industrial New York Self-Storage Texas Top Stories

CBRE Investment Management, William Warren Group Acquire Self-Storage Portfolio Across 10 States for $588M

by Julia Sanders March 25, 2022

NEW YORK CITY AND AUSTIN, TEXAS — CBRE Investment Management and facility operator William Warren Group have acquired a 64-property self-storage portfolio for $588 million. Austin-based World Class Holdings was the seller. The self-storage portfolio includes over 4.1 million rentable square feet across 10 states including Texas, Ohio, Illinois, Colorado, Missouri, Mississippi, Tennessee, Indiana, New York and Nevada. The properties include a total of 28,601 units. The self-storage properties will now operate under the StorQuest brand. The facilities were previously operated by Great Value Storage. The assets are primarily single-story drive-up units. The portfolio was 82 percent leased at the time of sale. “We expect these assets to add significant value to our investment stack given the high demand for self-storage facilities across multiple markets and end-users amid the pandemic,” says Justin Shanahan, deputy portfolio manager for CBRE Investment Management. “This specific portfolio offered a unique opportunity to acquire a diverse collection of facilities in various states that have strong population demographics. We believe that the portfolio is well-positioned to continue its robust leasing momentum and yield long-term profitability.” With this transaction, CBRE Investment Management, a New York City-based global real estate assets investment management firm and affiliate of Dallas-based …

March 25, 2022

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