THOUSAND OAKS, CALIF. — Marcus & Millichap has arranged the sale of a 51,401-square-foot industrial redevelopment site at 670 Lawrence Drive in Thousand Oaks. The asset traded for $1.3 million. The names of the buyer and seller were not released. Christian Desnoes of Marcus & Millichap represented both parties in the transaction.
BENSALEM, PA. — Colliers has brokered the sale of a 106,045-square-foot industrial property in Bensalem, a northeastern suburb of Philadelphia. The site at 1211 Ford Road spans 7.9 acres, and the facility can support both manufacturing and distribution uses. Building features include a clear height of 18 feet, 6,000 square feet of office space, 17 tailgate loading docks and five drive-in doors. Richard Gorodesky, Andy McGhee and Adam Gorodesky of Colliers represented the seller, Faropoint, in the transaction. The buyer was UniCup International. The sales price was not disclosed.
GLENDALE, ARIZ. — Lincoln Property Co. has completed the sale of a 1.25 million-square-foot industrial building in Glendale, Ariz., to Dollar Tree for $147.1 million. Park303 totals 210 acres and 3.75 million square feet of industrial space. Built in two phases, Park303 features a 1.25 million-square-foot single-building Phase 1 and a 2.5 million-square-foot, three-building Phase 2. Dollar Tree purchased Park303 Phase 2 Building C to establish the company’s first regional distribution facility in the metro Phoenix market. Dollar Tree currently operates more than 9,000 stores and 18 distribution centers, employing approximately 150,000 associates across the United States and Canada. All Park303 Phase 2 buildings are LEED-certified and Foreign Trade Zone capable with 40-foot clear heights, 25-foot tall glass entries, up to 12,000 amps of power, 7-inch slab over 4-inch crushed rock and steel moment frame shear bracing supporting automated racking and picking equipment. Together the buildings offer 430 dock doors, 778 trailer stalls and more than 1,556 parking stalls. Park303 amenities include speculative office space, an outdoor pickleball and basketball court and an outdoor entertainment area with barbecues, overhead fans and seating. Lincoln serves as the property manager and leasing agent for Park303. Reid Wilbraham and Cooper Fratt of Cushman & …
LA MIRADA, SANTA ANA AND ORANGE, CALIF. — Colliers has arranged the $15.5 million acquisition of two retail buildings and an industrial building in MidCounties. Totaling 36,441 square feet, the assets include 16211-16217 Heron Avenue in La Mirada, 1268 S. Grand Avenue in Santa Ana and 1821 N. Tustin Street in Orange. The three buildings were fully occupied at the time of sale. Chuck Wilson of Colliers represented the buyer, Rancho De Los Cazadores, in the deal. The buyer acquired the portfolio as part of a 1031 exchange and Southern California expansion plan.
PHOENIX — SVN | Desert Commercial Advisors has brokered the purchase of an industrial building located at 4002 N. 36th Ave. in Phoenix. Hilton Cabinets acquired the asset from an undisclosed seller for $4.3 million. Hilton Cabinets is renovating the property for use as a cabinet manufacturing and distribution center. The property features a secure and gated yard, significant power capacity and fully air-conditioned interiors. Justin Horwitz, Richard Lewis, Sean Alderman and Jillian Moyer of SVN | Desert Commercial represented the buyer, while Chad Kirkorsky of Citywide Commercial Real Estate represented the undisclosed seller in the deal.
KILLEEN AND EDINBURG, TEXAS — Marcus & Millichap has brokered the sale of two Texas self-storage facilities totaling 802 units. Hallmark Mini Storage, located in the Central Texas city of Killeen, was built on 2.4 acres in 2002 and totals 36,350 net rentable square feet of space across eight buildings and 275 units. Superior Self Storage, located in the Rio Grande Valley city of Edinburg, was built on 3.9 acres in 2004 and totals 50,692 net rentable square feet of space across seven buildings and 527 units. The properties traded as part of a portfolio deal that included a 294-unit facility in Las Cruces, N.M. Stacey Gorman, Sam Slocum and Grace Folger of Marcus & Millichap represented the undisclosed seller in the transaction. The trio also collaborated with Marcus & Millichap’s Cameron Bradford to procure the buyers. An undisclosed investment group purchased Hallmark Mini Storage, and Wentworth Property Co. bought Superior Self Storage.
EL PASO, TEXAS — Realterm, a Maryland-based investment manager focused on the transportation industry, has purchased a 34.1-acre industrial outdoor storage (IOS) facility in El Paso. Developed in 2017, the facility at 11090 Gateway Blvd. features 14,148 square feet of maintenance shop space with six drive-thru bays, 12,684 square feet of office space and 3,800 square feet of warehouse space with four dock doors for transloading. The facility was fully leased at the time of sale to TFA Logistics. The seller and sales price were not disclosed.
PHOENIX — Gantry has secured $16.3 million in financing for a private real estate investor for the acquisition of two buildings located at 950 and 960 W. Behrend Drive in Phoenix. The properties offer 124,308 square feet of industrial and office space. Tim Storey, Adam Parker, Chad Metzger and Andrew Christopherson of Gantry’s Phoenix office arranged the five-year, fixed-rate loan through a regional bank. The loan features two years of interest-only payments while the property stabilizes and then transitions to a 30-year amortization.
WATERLOO, IOWA — TVS Supply Chain Solutions has opened its new 225,113-square-foot, build-to-suit facility in Waterloo. Developed in partnership with ElmTree Funds and Ryan Cos. US Inc., the project features 6,800 square feet of office space, a driver’s lounge, 30 loading dock doors and two drive-in doors. TVS’s first Iowa facility is in Iowa City. Ryan is also building another 225,000-square-foot property for TVS in Davenport that is scheduled for completion in October. Ryan served as developer and builder of the Waterloo facility, and Ryan A+E Inc., Ryan’s design studio, served as the architect. ElmTree served as facility owner and financier.
PLAINFIELD, IND. — Chicago-based HSA Commercial Real Estate has inked a new 68,486-square-foot industrial lease with home furnishings retailer Ashley DSG at Gateway Industrial V in Plainfield near the Indianapolis International Airport. The deal returns the 262,758-square-foot building in HSA’s Gateway Business Park to full occupancy. Memphis, Tenn.-based Ashley DSG maintains 166 locations in the United States and Canada. The company will use its space at Gateway V to warehouse and distribute home furnishings. The lease is a relocation and expansion from the company’s existing location in the Indianapolis area. HSA oversaw tenant improvements, including racking and upgrades to the truck dock area. Developed on a speculative basis and delivered in 2019, Gateway V features a clear height of 32 feet, 30 truck docks, four drive-in doors, 185 parking stalls and 70 trailer positions. The warehouse is also home to auto glass distributor Mygrant Glass Co., Paris-based aerospace firm Safran Nacelles and transplant solutions provider LifeNet. Tom Niessink of Niessink Commercial Real Estate represented Ashley DSG in the lease. Terry Busch and Jared Scaringe of CBRE represented ownership.