WACO, TEXAS — CSD Realty has brokered the sale of a 438-unit self-storage facility located at 1620 La Salle Ave. in Waco. The facility spans 58,000 square feet. Craig Rice and Cole Rice of CSD Realty represented the seller, Unlimited Storage LLC, in the transaction. The duo also procured the buyer, Store Space Self Storage, a Florida-based investment firm.
HOUSTON — Equity Growth Partners LP has purchased a 135,296-square-foot industrial building that is situated on an 8.5-acre site at 5800 Clinton Drive in East Houston. According to LoopNet Inc., the single-tenant property was built in 1947 and renovated in 2007. Zack Taylor of Moody Rambin represented the seller, CDAB II LP, in the deal. David Boyd and Wes Williams of Boyd Commercial represented the buyer.
PINEVILLE, N.C. — Charlotte-based Beacon Partners has broken ground on a 525,030-square-foot speculative logistics building at Carolina Logistics Park near the Westinghouse Boulevard and Nations Ford Road interchange in Pineville. The mass grading and road infrastructure for the 288-acre park is underway and will be complete by the end of the year. The Carolina Logistics Park building will be able to accommodate several tenants and is designed to appeal to the large-building demand. The site is approximately 14 miles south of Charlotte and is in close proximity to Interstates 85, 485 and 77. Located at 11925 Carolina Logistics Drive, the new building will feature 40-foot clear heights, 190-foot concrete truck courts with trailer parking, floor slabs and 139 trailer stalls. The building is slated for completion early in 2022. When finished, Carolina Logistics Park will accommodate up to 3.5 million square feet of new Class A distribution and manufacturing space. The project team includes general contractor The Conlan Co., architect Merriman Schmitt Architects and civil engineer Orsborn Engineering Group. Wells Fargo provided construction financing.
CHARLOTTE, N.C. — Ready Capital has closed an $11.3 million loan for the recapitalization, redevelopment and lease-up of an approximately 72,000-square-foot, Class B industrial, adaptive reuse project located in northwest Charlotte. Upon closing, the sponsor will reposition the property from industrial/flex to mixed-use (office/retail). The sponsor is targeting creative office and experiential retail tenants and will also carve out an area that will be used as an event space. The non-recourse, interest-only loan provides future funding for capital expenditures, tenant leasing costs and interest shortfalls. Additionally, it includes a one-time earnout, which the sponsor is eligible for throughout the first 24 months of the loan term. The loan features a 36-month term, two extension options and flexible prepayment. The borrower was not disclosed.
LAWRENCE, MASS. — Marcus & Millichap has brokered the sale of a 106,693-square-foot industrial building located at 65 Manchester St. in Lawrence, a northern suburb of Boston. The sales price was $3 million. The property is situated within a qualified opportunity zone about 1.7 miles from Interstate 93. Harrison Klein and Luigi Lessa of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties requested anonymity. The property, which was built around the turn of the 20th century and renovated in 2002, was sold via online auction in conjunction with Evan Koransky at Ten-X.
BRIDGEWATER, MASS. — Massachusetts-based design/build firm Dacon has completed a 23,500-square-foot cannabis cultivation facility in Bridgewater, located south of Boston. The project is a build-to-suit for Theory Wellness, a provider of medical and recreational cannabis products with operations in Maine and Massachusetts. The space includes two climate-sensitive growth labs, two extraction labs and a manufacturing area.
WASECA, MINN. — Phoenix Investors has acquired a 248,291-square-foot industrial flex building in Waseca for an undisclosed price. Phoenix plans to implement a capital improvement plan to reinvigorate the space for new users. There is currently 100,000 square feet available for lease. The facility sits on 19.7 acres at 229 Johnson Ave. SW. Dave Schoof of Coldwell Banker Commercial Fisher Group brokered the sale. The acquisition expands Phoenix’s footprint to 23 states.
CONROE, TEXAS — New York City-based Merit Hill Capital has acquired A-Another Storage, a 421-unit self-storage facility in Conroe, about 40 miles north of Houston. The property spans 52,480 square feet. Craig Rice and Cole Rice of CSD Realty represented the seller, an entity doing business as A-Another Storage LLC, in the transaction and procured Merit Hill Capital as the buyer.
AUSTIN, TEXAS — Move Solutions Ltd., which provides office moving services, has signed a 107,537-square-foot industrial lease at Park 183, a development in southeast Austin by Trammell Crow Co. and New York-based Clarion Partners. Development of Park 183 is currently in its third of four phases that will ultimately total more than 950,000 square feet of industrial space. John Barksdale, Darryl Dadon and Joe Novek of CBRE represented the landlord in the lease negotiations. Robert Deptula and Stayton Wright of Transwestern represented Move Solutions.
SOMERSET, N.J. — CustomPictureFrames.com, a manufacturer of picture and other framing solutions, has acquired a 45,300-square-foot industrial building at 6 Shirley Ave. in Somerset, located in Northern New Jersey. Bill Waxman and Christopher Griffith of CBRE represented the buyer, which will relocate from nearby South River, in its site selection and negotiations. Bussel Realty Corp. represented the seller, Emby Hosiery Corp.