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Industrial

12885-S-Las-Vegas-Blvd-Las-Vegas-NV
AcquisitionsIndustrialNevadaWestern

Stonestream Properties Divests of Four-Building Industrial Property in Las Vegas for $4.7M

by Amy Works

LAS VEGAS — Stonesteam Properties has completed the disposition of a four-building industrial campus located on 6.4 acres at 12885 S. Las Vegas Blvd. in Las Vegas. Vegas Ranch LLC acquired the asset for $4.7 million. Star Nursery will utilize the property to service its nine retail locations in Nevada. The asset includes a 12,500-square-foot warehouse, one storage warehouse and two additional buildings totaling 3,200 square feet. The site offers quick access to Interstate 15 via Saint Rose Parkway or Starr Interchange. James Griffis, Tyler Ecklund and Britney Arredondo of CBRE represented the seller in the deal.

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AcquisitionsIndustrialSelf-StorageTexas

Colliers Arranges Sale of 599-Unit Allsafe Self-Storage Facility in Metro Dallas

by Taylor Williams

CEDAR HILL, TEXAS — Colliers International has arranged the sale of Allsafe Self Storage, a 599-unit facility in Cedar Hill, a southern suburb of Dallas. The 85,550-square-foot property was built in 2000 and expanded in 2011. Kyle Newswanger of Colliers represented the seller, a private developer and investor, in the transaction. Newswanger also secured the buyer, an out-of-state private investor.

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AcquisitionsIndianaIndustrialMidwest

Savills Brokers $24.7M Sale of Manufacturing Plant in Evansville, Indiana

by Kristin Harlow

EVANSVILLE, IND. — Savills has brokered the sale of Graham Packaging’s plastics manufacturing plant in Evansville for $24.7 million. The 266,720-square-foot, net-leased facility is located at 5504 Foundation Drive within Vanderburgh Industrial Park. Graham Packaging produces 300 million food and beverage containers annually at the property, which was built in 2002 and expanded in 2008. Maurice Nieman of Savills represented the undisclosed seller. SomeraRoad was the buyer.

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600 Whittaker Road
AcquisitionsFloridaIndustrialSoutheast

LRC Properties Purchases 600 Whittaker Road Warehouse in Jacksonville for $29.6M

by Julia Sanders

JACKSONVILLE, FLA. — LRC Properties has purchased 600 Whittaker Road in Jacksonville for $29.6 million. The 469,830-square-foot warehouse is the New York-based firm’s first industrial acquisition in Jacksonville. LRC Properties partnered on the deal with Machine Investment Group, and Rialto Capital provided $24.7 million debt financing. The seller was not disclosed. The warehouse property is located in the northside submarket of Jacksonville near Interstates 95, 295 and 10. The property features warehouse space, 32-foot clear heights, loading areas and trailer parking. LRC plans to make cosmetic upgrades to the property and improve signage. With this purchase, LRC owns approximately 6 million square feet of commercial properties in the Southeast. The company recently purchased two properties known as the 640,000-square-foot Technicolor Building in Memphis and a 288,000-square-foot industrial property at 2 Dell Parkway in Nashville.

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IndustrialLeasing ActivityTexas

Banta Corp. Signs 201,600 SF Industrial Lease Renewal, Expansion in Houston

by Taylor Williams

HOUSTON — Banta Corp., a printing and imaging company that was acquired by Chicago-based market giant R.R. Donnelly in 2006, has signed a 201,600-square-foot industrial lease renewal and expansion at 6315 West by Northwest Blvd. in Houston. According to LoopNet Inc., the property was built on 12.8 acres in 1999, totals 259,200 square feet and features 24-foot clear heights. Brian Gammill and Darryl Noon of Transwestern represented the undisclosed landlord in the lease negotiations. The representative of the tenant was not disclosed.

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Stoneridge-Business-Park-Dallas
AcquisitionsIndustrialTexas

Arden Group Acquires 171,025 SF Industrial Flex Property in South Dallas

by Taylor Williams

DALLAS — The Arden Group, a Philadelphia-based investment management firm, has acquired Stoneridge Business Park, a 171,025-square-foot industrial flex property in South Dallas. Built in 1987, the property consists of three buildings with 18- to 20-foot clear heights and a 58 percent overall office finish. Stephen Bailey, Dustin Volz, Adam Roossien and Pauli Kerr of JLL represented the seller, MoxieBridge, in the transaction. Stoneridge Business Park was 83 percent leased at the time of sale to 15 tenants.

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MetCenter-Building-III-Austin
AcquisitionsIndustrialTexas

Mohr Capital Sells 160,000 SF Industrial Building Leased to Amazon in Austin

by Taylor Williams

AUSTIN, TEXAS — Dallas-based Mohr Capital has sold MetCenter Building III, a 160,000-square-foot industrial facility located at 7000 Metropolis Drive in southeast Austin that is fully leased to Amazon. The sale of the property, which is located within the 550-acre MetCenter business park, included the 20-acre adjacent parking lot. New Jersey-based Four Springs Capital Trust purchased the asset in an off-market transaction. The sales price was not disclosed.

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DevelopmentIllinoisIndustrialMidwest

Invert Chicago Plans to Build 140-Acre Subsurface Business Complex

by Kristin Harlow

CHICAGO — The Invert Chicago LLC has unveiled plans to build Chicago’s first subsurface business complex on 140 acres on the city’s southeast side that was vacated decades ago by the steel industry. Over the course of 13 years, Invert will develop nearly 6 million net square feet of climate-controlled space 250 to 350 feet below the surface at 11118 S. Buffalo Ave. The project site currently functions as a marine, rail and truck terminal. Initial subsurface space is expected to be available for occupancy by 2024. Invert anticipates making a formal filing with the City of Chicago later this summer.

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IndustrialLoansNew JerseyNortheastPennsylvania

JLL Arranges Two Loans Totaling $16.8M for Refinancing of Mid-Atlantic Industrial Portfolio

by Taylor Williams

MORRISTOWN, N.J. — JLL has arranged two loans totaling $16.8 million for the refinancing of a portfolio of three industrial properties that are located in the Lehigh Valley cities of Upper Macungie and Allentown and the coastal New Jersey city of Toms River. The portfolio totals 258,123 square feet across six buildings. Jon Mikula, Michael Klein, Michael Pagniucci and Carlos Silva of JLL placed the nonrecourse, fixed-rate loans with Minnesota Life Insurance Co. on behalf of the borrower, Denholtz Properties.

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IndianaIndustrialLeasing ActivityMidwest

Kroger Health Signs 57,317 SF Industrial Lease in Jeffersonville, Indiana

by Kristin Harlow

JEFFERSONVILLE, IND. — Kroger Health has signed a 57,317-square-foot industrial lease at 301 Logistics Ave. within River Ridge Commerce Center in Jeffersonville, just north of Louisville. Robert Walker and Stephan Gray of Cushman & Wakefield | Commercial Kentucky represented the landlord, Tratt Properties LLC. Walker, along with Doug Altemuehle of Newmark Cincinnati, represented Kroger Health, which is a division of The Kroger Co. The tenant expects to create 60 new jobs at the facility.

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