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Industrial

4433-Pacific-Blvd-Vernon-CA
AcquisitionsCaliforniaIndustrialWestern

Alere Property Group Acquires 33,400 SF Warehouse Near Los Angeles

by Amy Works

VERNON, CALIF. — Alere Property Group has purchased an industrial warehouse building located at 4433 Pacific Blvd. in Vernon. Alere Property Group acquired the asset from a private investor for an undisclosed price in an off-market transaction. Built in 2005, the 33,400-square-foot property features contemporary design and includes 8,800 square feet of mezzanine office space, clear heights ranging from 28 feet to 30 feet, five dock-high doors and a secured fenced yard. DAUM Commercial Real Estate Services represented the buyer and seller in the deal.

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Bronze-Way-Distribution-Center-Dallas
AcquisitionsIndustrialTexas

JLL Negotiates Sale of 154,000 SF Bronze Way Distribution Center in Southwest Dallas

by Taylor Williams

DALLAS — JLL has negotiated the sale of Bronze Way Distribution Center, a 154,000-square-foot industrial property that is situated on 7.9 acres in southwest Dallas. Built in 1978, the front-load building features 22- to 24-foot clear heights and was fully leased to building materials distributor Boise Cascade Co. at the time of sale. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and Pauli Kerr of JLL represented the seller, Huntington Industrial Partners, in the transaction. Atlanta-based investment firm MDH Partners purchased the asset for an undisclosed price.

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AcquisitionsIndustrialIowaMidwest

JLL Arranges $54M Sale of Industrial Portfolio in Eastern Iowa

by Kristin Harlow

IOWA CITY AND CEDAR RAPIDS, IOWA — JLL has arranged the sale of a 1.4 million-square-foot industrial portfolio in Iowa City and Cedar Rapids for $54 million. The Class B portfolio, currently 80 percent occupied, consists of five buildings that were constructed in the early 2000s. Three properties are in Iowa City at 2561, 2570 and 2610 Independence Road. The others are in Cedar Rapids at 5404 and 5507 Ely Road. Marcus Pitts, Justin Lossner, Michael Minard and Austin Hedstrom of JLL represented the seller, 2570 Independence LLC. JLL will continue to serve as leasing agent on behalf of the undisclosed buyer. The sale represents the largest industrial portfolio sale ever recorded in Iowa, according to JLL.

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AcquisitionsIndustrialMassachusettsNortheast

Burgess Properties Brokers Sales of Two Industrial Buildings in Metro Boston for $17.5M

by Taylor Williams

CHELSEA, MASS. — Burgess Properties LLC has brokered the sales of two industrial buildings located in the northeastern Boston suburb of Chelsea for a combined $17.5 million. The first property at 3-7 Griffin Way spans 33,515 square feet and features a clear height of 20 feet. Oliver Street Capital purchased that asset for $10 million. The second building at 25 Griffin Way totals 25,000 square feet and features a clear height of 27 feet. That property sold to an undisclosed, Boston-based investor for $7.5 million. Steve Nohrden of Burgess Properties brokered the deals. The sellers in both transactions requested anonymity.

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AcquisitionsIndustrialNew YorkNortheast

TerraCRG Negotiates $3.7M Sale of Industrial Building in Brooklyn

by Taylor Williams

NEW YORK CITY — Brokerage firm TerraCRG has negotiated the $3.7 million sale of a 6,684-square-foot industrial building in the Gowanus area of Brooklyn. ABC Collision, an auto repair shop that has operated in the area for more than 20 years, purchased the property from Advanced JAF Holding LLC. Brokers involved in the deal included Dan Marks, Daniel Lebor and Adam Tannenbaum of TerraCRG, as well as Jakub Nowak and Jake Torre of Marcus & Millichap and Thomas Cordasco.

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AcquisitionsAlabamaIndustrialLeasing ActivitySoutheast

W. P. Carey Purchases Industrial Property in Opelika, Alabama Leased to JOANN for $49M

by Julia Sanders

OPELIKA, ALA. — W. P. Carey Inc., a New York City-based net lease REIT, has purchased an industrial property located at 3101 Anderson Road in Opelika for $49 million. W. P. Carey purchased the 703,000-square-foot, Class A logistics facility in a sale-leaseback transaction with JOANN, a sewing and fabrics retailer based in Hudson, Ohio. The property is triple-net-leased to JOANN for a period of 20 years, with fixed annual rent escalations. The cross-dock facility features up to 40-foot clear heights and is on a site that allows for future expansion. The property is located along Interstate 85. Built in 2005, it supplies products to more than one-third of JOANN’s nearly 900 retail locations nationwide.

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AcquisitionsIndustrialTexas

Marcus & Millichap Brokers Sale of 58,418 SF Industrial Building in Brownsville, Texas

by Taylor Williams

BROWNSVILLE, TEXAS — Marcus & Millichap has brokered the sale of a 58,418-square-foot industrial building located on 5.3 acres in the South Texas city of Brownsville. The property was triple net leased to textile recycling company Martex Fiber at the time of sale. Adam Abushagur and Tyler Sharp of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was a California-based private investor. Both parties involved in the transaction requested anonymity.

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Eastpark70-Aurora-CO
ColoradoDevelopmentIndustrialWestern

Consolidated Investment Breaks Ground on Two Buildings at Eastpark 70 Industrial Park in Aurora, Colorado

by Amy Works

AURORA, COLO. — Consolidated Investment Group has started construction of Building 5 and Building 6 at Eastpark 70, a currently four-building, 900,000-square-foot industrial park in northeast Aurora. Building 5 will feature 158,900 square feet, divisible to 40,000 square feet, and Building 6 will offer 77,100 square feet, divisible to 30,000 square feet. The buildings will feature 32-foot clear heights, ESFR sprinklers, dock-high and drive-in loading, trailer parking and office space available to suit. Eastpark 70 is zoned M-1 industrial with approval for outside storage. Completion for Building 5 is slated for January 2022, with delivery of Building 6 scheduled soon thereafter. Todd Witty and Doug Viseur of CBRE are handling leasing for the buildings. Current tenants at Eastpark 70 include UPS, Wayfair and Benjamin Moore.

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1090-Thomas-Busch-Memorial-Highway-Pennsauken
AcquisitionsIndustrialNew JerseyNortheast

CBRE Brokers Sale of 401,827 SF Industrial Portfolio in Southern New Jersey

by Taylor Williams

BURLINGTON, PENNSAUKEN AND MOUNT LAUREL, N.J. — CBRE has negotiated the sale of the Southern NJ Logistics Portfolio, a collection of three buildings totaling 401,827 square feet in Southern New Jersey. The properties are located in Burlington, Pennsauken and Mount Laurel. High Street Logistics Properties purchased the portfolio, which was fully leased at the time of sale, from a private developer based in the region. Michael Hines, Brian Fiumara, Brad Ruppel, Joe Hill and Lauren Dawicki of CBRE brokered the transaction.

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AcquisitionsIndustrialNortheastPennsylvania

J.G. Petrucci Acquires 46-Acre Industrial Campus in Bensalem, Pennsylvania

by Taylor Williams

BENSALEM, PA. — Locally based developer J.G. Petrucci Co. Inc. has acquired the former Suez Water Technologies & Solutions Campus, a 46-acre industrial development in Bensalem, located in Bucks County. The namesake tenant will continue to lease 93,000 square feet of space at the 12-building campus, while RLS USA Inc., a former subsidiary of General Electric, will lease 20,000 square feet of R&D space. J.G. Petrucci will demolish and redevelop the remainder of the campus. Jon Mikula, Chad Orcutt and Michael Lachs of JLL arranged $13 million in acquisition financing for the deal on behalf of J.G. Petrucci.

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