Industrial

MINOOKA, ILL. — MDH Partners has purchased Minooka Interstate Logistics Portfolio, a 2.2 million-square-foot industrial portfolio in Minooka, about 60 miles outside Chicago. The purchase price was undisclosed. The portfolio is comprised of three Class A facilities that are fully leased. Houston Hawley of MDH Partners sourced the deal. Adam Tyler, Jim Carpenter and Mike Tenteris of Cushman & Wakefield represented the undisclosed seller. The building at 200 International Parkway South totals 473,280 square feet and is fully leased to BMW of North America, which utilizes the facility to service hundreds of dealerships located between Colorado and Michigan. The building at 1460 Cargo Court is 705,661 square feet and is fully leased to Kellanova, which distributes Kellogg’s global snacks and international cereals. The 1 million-square-foot facility at 6225 E. Minnoka Road is fully leased by WK Kellogg, which distributes Kellogg’s U.S. breakfast cereals and is the largest distribution center for WK Kellogg in the Midwest. The buildings were constructed in 2002 and 2008.

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BAYONNE, N.J. — Cushman & Wakefield has arranged a $126.3 million loan for the refinancing of a 332,640-square-foot industrial building in the Northern New Jersey community of Bayonne. The speculative structure is Bayonne Logistics Center – Building 100 and features a clear height of 40 feet and 66 dock doors, as well as five acres of parking space that can support 195 trailers and 225 cars, or 45 trailers and 800 cars. Construction of the building began in May 2022 and was completed earlier this year. John Alascio, T.J. Sullivan, Chuck Kohaut and Mitch Rothstein of Cushman & Wakefield arranged the floating-rate loan through Ares Management on behalf of the borrower, a partnership between Lincoln Equities and PCCP LLC.

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APPOMATTOX COUNTY, VA. — Avaio Digital Partners plans to develop a $3 billion data center campus in Central Virginia. The data center developer and operator is an affiliate of Avaio Capital. The firm recently purchased a 452-acre site from the Appomattox County Economic Development Authority that is zoned for data center development. The shovel-ready site is located atop long-haul fiber networks, according to Avaio Digital. The developer has secured 300 megawatts of power from CVEC (Central Virginia Electric Cooperative) and Dominion Energy for the development. Details about the construction timeline were not released.

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MESQUITE, TEXAS — Penguin Packaging Solutions, which serves the food industry, has signed a 102,497-square-foot industrial lease in the eastern Dallas suburb of Mesquite. The space is located within Town East Logistics, a 193,800-square-foot development that was completed in 2023. James Mantzuranis and Adam Jones of Stream Realty Partners represented the landlord, Dallas-based Leon Capital, in the lease negotiations. Chase Miller with NAI Robert Lynn represented the tenant.

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DALLAS — Weitzman has negotiated a 47,518-square-foot industrial lease near Dallas Love Field Airport on the city’s northwest side. The property at 7611 John Carpenter Freeway features 16-foot clear heights, four dock doors and 13,547 square feet of office space. Eddie Liebman of Weitzman represented the undisclosed landlord in the lease negotiations. Chase Miller of NAI Robert Lynn represented the tenant, Sun Commercial Roofing.

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7980-7990-W-Buckeye-Rd-Tolleson-AZ

TOLLESON, ARIZ. — San Diego-based SENTRE has purchased a freestanding industrial asset located at 7980-7990 W. Buckeye Road in Tolleson, approximately 12 miles west of Phoenix. Chicago-based Brennan Investment Group sold the property for $48.8 million. Situated on more than 15 acres, the 322,070-square-foot facility was originally built in 1988 and expanded in 2010. The asset features a clear height of 35 feet, ample loading and heavy power. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield’s Private Capital Group represented the seller in the transaction.

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Peregrine-Realty-Portfolio-Carlsbad-CA

CARLSBAD, CALIF. — West Coast-based Peregrine Realty Partners has completed the disposition of Carlsbad Oaks Commerce Center and El Fuerte Business Park, a pair of multi-tenant industrial business parks in Carlsbad. Irvine, Calif.-based CIP Real Estate acquired the portfolio for $34.2 million. Situated on a combined 9.3 acres, the seven-building, 126,964-square-foot portfolio is currently 98 percent leased to approximately 60 tenants. Built in 1990 at 5931-5933 Sea Lion Place, Carlsbad Commerce Center consists of two buildings totaling 48,638 square feet on 3.7 acres and is currently fully leased to 21 tenants. Built in 1989-1990, El Fuerte Business Park consists of five buildings totaling 78,326 square feet on 5.6 acres. Located at 2788, 2790, 2792, 2794 and 2796 Loker Ave. W, El Fuerte Business Park is fully leased to 39 tenants. Bryce Aberg, Louay Alsadek, Maddie Mawby, Charlie Jacobs and Ryan Demarest of Cushman & Wakefield represented the seller in the transaction. Conor Boyle, Joe Crotty, Tyler Stemley and Brant Aberg of Cushman & Wakefield provided local market advisory.

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NEW YORK CITY — JLL has arranged a $115 million loan for the refinancing of a portfolio of nine self-storage properties that are located in various areas of New York and New Jersey. The portfolio spans 723,664 net rentable square feet across 9,578 units. Properties are located in The Bronx, Floral Park, Garden City, Huntington Station and Yorktown Heights areas of New York and in the New Jersey communities of Haledon, Elizabeth, Linden and Perth Amboy. Steven Klein and Robert Tonnessen of JLL arranged the loan through Nuveen Real Estate on behalf of the borrower, Atlanta-based owner-operator Storage Post. Specific loan terms were not disclosed.

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LAS VEGAS — Avison Young has arranged the purchase of Edmond Russell Triangle, an industrial property in Las Vegas. A California-based private investor acquired the asset from a local development group for $12.5 million, or $249.50 per square foot, in an off-market transaction. Loomis U.S. fully occupies the 50,100-square-foot building, which is located at 5780 Edmond St. Chris Lexis, James Griffis and Joe Leavitt of Avison Young represented the buyer in the transaction.

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JANESVILLE, WIS. — Marcus & Millichap has negotiated the $2.3 million sale of Interstate Secure Storage, a 233-unit self-storage facility in the Milwaukee suburb of Janesville. Built in 2015, the property totals 44,250 rentable square feet. There are expansion plans for two additional buildings totaling 25,950 square feet. Dan Bowar of Marcus & Millichap represented the buyer, Hastings Property Group LLC. The seller was undisclosed.

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