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Industrial

AcquisitionsIllinoisIndustrialMidwest

NAI Hiffman Brokers $13.2M Sale of Two Manufacturing Facilities in Itasca, Illinois

by Kristin Harlow

ITASCA, ILL. — NAI Hiffman has brokered the sale of two light manufacturing and warehousing facilities in Itasca for $13.2 million. Located at 1500 Bryn Mawr Ave. and 1251 Ardmore Ave., the properties total 108,357 square feet and were built in 1969. Phoenix Converting Inc., a producer of specialty pouches for flexible packaging, occupies both buildings. Patrick Sullivan, Ryan Chambers and Jeff Janda of NAI Hiffman represented the seller, Oak Brook-based TradeLane Properties LLC. A national industrial REIT was the buyer.

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AcquisitionsIndustrialMichiganMidwestNorthmarq

NorthMarq Arranges $10.3M Acquisition Loan for Industrial Property in Taylor, Michigan

by Kristin Harlow

TAYLOR, MICH. — NorthMarq has arranged a $10.3 million bridge loan for the acquisition of a 243,894-square-foot industrial property in Taylor, about 18 miles southwest of Detroit. The building is located on Trolley Industrial Drive. Reina Abboud of NorthMarq arranged the four-year loan, which features three years of interest-only payments. A bridge and mezzanine lender provided the loan on behalf of the undisclosed borrower.

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AcquisitionsIndianaIndustrialMidwest

Livingston Street Capital Sells Indiana Industrial Facility for $55.3M

by Kristin Harlow

COLUMBUS, IND. — Livingston Street Capital has sold a 393,817-square-foot industrial facility in Columbus, about 45 miles south of Indianapolis. Bridge Investment Group purchased the asset for $55.3 million. Faurecia Emissions Control Technologies USA LLC, part of the Faurecia Clean Mobility Group, occupies the property on a net-lease basis. Jason DeWitt, Brian Shanfeld, Ed Halaburt, Nick Franklin and Steve Okon of JLL represented Livingston Street Capital, which acquired the facility in November 2018.

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AcquisitionsIllinoisIndustrialMidwest

Colliers Arranges Sale-Leaseback of Four-Building Industrial Portfolio in Melrose Park, Illinois

by Kristin Harlow

MELROSE PARK, ILL. — Colliers International has arranged the sale-leaseback of a four-building industrial portfolio spanning 149,454 square feet in Melrose Park, a suburb of Chicago. Mike Senner and Tom Rodeno of Colliers represented the seller, Promus Equity Partners LLC, which recently led an investment in Caputo Cheese’s brand and business. The buildings are all located on the same street and are utilized for Caputo’s manufacturing, processing, distribution and storage. STORE Capital purchased the portfolio for an undisclosed price. Caputo signed a 20-year lease.

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StorQuest-Boulder-CO
AcquisitionsCaliforniaColoradoIndustrialSelf-StorageWashingtonWestern

CBRE Global Investors Buys Four Self-Storage Facilities in Colorado, California, Washington Totaling 3,746 Units

by Amy Works

BOULDER, COLO.; VISTA, CALIF.; AND BOTHELL AND LAKE STEVENS, WASH. — A fund sponsored by CBRE Global Investors has purchased four self-storage properties totaling 3,746 units and 296,286 square feet. Terms of the transaction were not released. The acquired assets, which were all delivered in 2020, are: The 69,115-square-foot StorQuest Boulder, located at 4790 Pearl St. in Boulder, featuring 772 climate-controlled units. The 74,416-square-foot StorQuest Vista, located at 943 S. Melrose Drive in Vista, with 899 climate-controlled units. The 74,805-square-foot StorQuest Bothell, located at 21008 Bothell Everett Highway in Bothell, offering 1,155 climate-controlled units. The 77,950-square-foot StorQuest Lake Stevens, located at 1113 WA-204 in Lake Stevens, with 920 climate-controlled units. With these acquisitions, the fund now owns 19 self-storage assets, totaling 13,650 units, across the United States.

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AcquisitionsIndustrialNew JerseyNortheast

Cushman & Wakefield Brokers $27M Sale of Industrial Complex in Northvale, New Jersey

by Taylor Williams

NORTHVALE, N.J. — Cushman & Wakefield has brokered the $27 million sale of Ludlow Industrial Park, a 193,235-square-foot complex in Northvale, located along the New York-New Jersey border. The three-building property sits on nine acres and was fully leased to RAB Lighting at the time of sale. Building features include clear heights up to 33 feet, 228 car parking spaces and 21 loading positions. Gary Gabriel, Kyle Schmidt, Chuck Fern, Tom Tucci and Eli Millstein of Cushman & Wakefield represented the seller in the transaction. The buyer was not disclosed.

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AcquisitionsDevelopmentIndustrialNortheastPennsylvania

CBRE Negotiates $25.7M Sale of Industrial Development Site in Valley View, Pennsylvania

by Taylor Williams

VALLEY VIEW, PA. — CBRE has negotiated the $25.7 million sale of an industrial development site in Valley View, about 120 miles northwest of Philadelphia. The buyer, California-based Panattoni Development Co., plans to develop two speculative buildings that will total approximately 2.4 million square feet and that will be known as Rausch Creek Logistics Center. Michael Hess, Bart Anderson and Patrick Lafferty of CBRE represented the seller, Tremont FT LLC, an affiliate of Viridian Partners, in the transaction.

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AcquisitionsIllinoisIndustrialMidwest

Venture One Acquires 60,033 SF Industrial Building in Chicago

by Kristin Harlow

CHICAGO — Venture One Real Estate has acquired a 60,033-square-foot industrial building located at 6450 Cortland St. in Chicago for an undisclosed price. The property was vacant at the time of acquisition. Situated on nearly three acres, the building features seven docks, one drive-in door and parking for 63 cars. Venture One plans to undertake office renovations, add energy-efficient lighting, resurface the parking lot and build a new roof. Elise Couston and Jimena Sayavedra of Newmark represented the undisclosed seller and will be retained to market the property for lease. Venture One’s acquisition fund VK Industrial V LP is a partnership between Venture One and Kovitz Investment Group.

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IndustrialLeasing ActivityNAITexas

NAI Partners Negotiates Two Industrial Leases Totaling 130,903 SF in McAllen, Texas

by Taylor Williams

MCALLEN, TEXAS — NAI Partners has negotiated two industrial leases totaling 130,903 square feet at 5700 S. International Parkway in the Rio Grande Valley city of McAllen. Marmon Foodservice Technologies, a manufacturer of restaurant equipment and supplies, leased 100,783 square feet, and pet products manufacturer Worldwise leased 30,120 square feet. Carlos Marquez of NAI Partners represented the landlord, Killam Development Ltd., in both sets of lease negotiations.

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IndustrialLeasing ActivityNorth CarolinaSoutheast

KBS Signs Two Leases at Crossroads Distribution Center in Charlotte Totaling 100,000 SF

by Julia Sanders

CHARLOTTE, N.C. — KBS has signed two leases at Crossroads Distribution Center, a 496,723-square-foot business park located in Charlotte. The leases exceeded 100,000 square feet and brought the property to full occupancy. The transactions include a long-term, 73,300-square-foot lease with Service Metal, a pipe fitting distributor, and a long-term, 26,933-square-foot lease with Caesarstone US, a quartz countertop manufacturer. Located at 11401 Granite St., Crossroads Distribution Center features Interstate 77 frontage with warehouse, distribution and office/showroom space. Completed in 2007, the property includes four warehouses with clear heights ranging from 24 to 30 feet. Each building features 50-foot concrete aprons, loading docks and truck courts ranging from 110 to 140 feet. The property also has an onsite car wash/detail. Matt Treble and Eric Ridlehoover of Cushman & Wakefield handled the leasing transactions on behalf of KBS. Matt Hargrove and Alek Salfia of CBRE represented Ceaserstone, and William Maxwell at Trinity Partners represented Service Metal.

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