PHILADELPHIA — Wharton Industrial, an investment arm of New York-based Wharton Equity Partners, has acquired a portfolio of seven industrial properties totaling roughly 450,000 square feet in the Philadelphia area. Four of the properties are located in the Pennsylvania markets of Croydon, Boothwyn and Reading. The other three are located in the Southern New Jersey communities of Marlton, Moorestown and Pennsauken. The seller and sales price were not disclosed.
FORT WORTH, TEXAS — RSI SmartCap, a provider of stainless steel truck cap systems, has signed a 391,985-square-foot industrial lease at Building F within Carter Distribution Center in Fort Worth. The four-building complex is located within Carter Industrial Park and features 32- to 36-foot clear heights, an ESFR sprinkler system and ample car and trailer parking spaces. Matt Carthey and Thomas Grafton of locally based brokerage firm Holt Lunsford Commercial represented the landlord, PGIM Real Estate, in the lease negotiations. Grant Pruitt with Whitebox Real Estate represented the tenant.
ADDISON AND CARROLLTON, TEXAS — CBRE has arranged the sale of a portfolio of nine industrial properties totaling 300,437 square feet in the northern Dallas metros of Addison and Carrollton. Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber with CBRE represented the locally based seller, Kennington Commercial, in the transaction. A joint venture between Birtcher Anderson & Davis and Belay Investment Group purchased the portfolio for an undisclosed price.
BOSTON — GLP Capital Partners has purchased the Northeast Logistics Portfolio, a collection of four warehouse and distribution buildings in the Boston area totaling approximately 1 million square feet, for $173 million. The properties include 192 Mansfield Ave. in Norton; 100 Adams Road in Clinton; and 132 Campanelli Drive and 1010 W. Chestnut St. in Brockton. The portfolio was fully leased to 11 tenants at the time of sale. Robert Griffin, Edward Maher, Matthew Pullen, Tony Coskren, Ed Jarosz, Brian Pinch, Samantha Hallowell and Nick Revers of Newmark represented the seller, Marcus Partners, in the transaction. The team also procured GLP Capital Partners as the buyer.
WEST CHICAGO, ILL. — Peak Construction Corp. has broken ground on the second phase of DuPage Business Center in West Chicago. Scannell Properties is the developer for the 250,100-square-foot speculative warehouse, which will feature a clear height of 32 feet, 30 dock positions, four drive-in doors and parking for 208 cars and 95 trailers. The facility is designed to accommodate up to four tenants. Completion is slated for the third quarter of 2022. The project team includes SpaceCo, Ware Malcomb and IMEG. Cory Ramey and Shamus Conneely of John Greene Industrial will market the project for lease.
SIGNAL HILL, CALIF. — CenterPoint Properties has acquired nine acres of land at 2550 Orange Ave. in Signal Hill from Signal Hill Petroleum for an undisclosed price. CenterPoint plans to develop a 100,147-square-foot distribution facility with 17 dock-high doors and 73 trailer parking stalls on the former driving range site. Tom Holland, Justin Domblaser and Alex Matar represented CenterPoint in the deal.
GREER, S.C. — Dalfen Industrial has acquired Victor Hill Industrial Park, a 366,240-square-foot industrial property located in Greer. Exxcel Project Management sold the property for an undisclosed sales price. Victor Hill Industrial Park is a recently constructed, Class A, two-building industrial park. Located at 859 and 861 Victor Hill Road, the property is situated a quarter mile from the BMW manufacturing plant, two miles from Interstate 85 and the Greenville-Spartanburg Industrial Airport, three miles to Fedex Air and five miles to Inland Port Greer.
SIMI VALLEY, CALIF. — Rexford Industrial has purchased Topaz Business Center, a six-unit industrial building in Simi Valley, from 2280 LLC for $46.4 million. The property features 242,100 square feet of industrial space. Topaz Distribution purchased the asset 10 years ago for $14 million and added 40,000 square feet of rentable building footprint during a 2015 renovation. Topaz Distribution occupies about 51,000 square feet of the property. Additional tenants include Tire Hub, Sooner Express, Frontline, Derma E and Lifetech Resource. Mike Tingus, Jose Jusko and Grant Fulkerson of Lee & Associates’ LA North/Ventura office represented the buyer and seller in the deal.
GEORGETOWN, TEXAS — Titan Development has broken ground on the 172,428-square-foot Building 3 as part of Phase II of Northpark35 Industrial Park, located in the northern Austin suburb of Georgetown. Phase I of the project centered on the development of Building 1, a 172,677-square-foot building that is now leased to Texas Speed & Performance, a supplier of automotive parts. Building 2 spans 157,300 square feet and is available for lease. Completion of Building 3 is slated for May 2022.
HENDERSON, NEV. — RealComm has brokered the sale of an industrial property located at 7735 Commercial Way in Henderson. Yukon Waters LLC acquired the asset from BS Holdings for $10 million. The property features 42,311 square feet of industrial space. Greg Pancirov, Mike De Lew and Paul Hoyt of RealComm represented the seller and buyer in the transaction.
