Industrial

Brooklyn Bedding Breaks Ground on $72M Manufacturing Facility, Corporate Headquarters in Metro Phoenix

by Katie Sloan February 18, 2021

GLENDALE, ARIZ. — Mattress retailer Brooklyn Bedding has broken ground on a $72 million manufacturing facility and corporate headquarters nine miles outside Phoenix in Glendale. The 648,165-square-foot building will be located on 42.8 acres at the crossroads of West Bethany Home Road and 52nd Ave. The new manufacturing facility, set for delivery in December 2021, will give the company the capacity to triple its mattress production. Founded in 1995, Brooklyn Bedding claims to be a pioneer in the “bed-in-a-box movement,” selling its first roll-packed mattress product on Amazon in 2008. By 2015, Brooklyn Bedding had developed and constructed a 150,000-square-foot, full-scale factory in the Phoenix area. The company currently employs 250 and plans to add 150 employees upon the completion of its new facilities. Brydant Real Estate will spearhead development of the project, working alongside the development team of Alston Construction and the architectural team of Ware Malcomb. Brooklyn Bedding will continue operations at its manufacturing facility at 4455 West Camelback Road and its warehouse at 4524 North 44th Ave. in Phoenix until the new headquarters is delivered. — Katie Sloan

February 18, 2021

Development Industrial Loans Maryland Self-Storage Southeast

MD Energy Provides $3M CPACE Loan for Former Printing Facility Conversion in Baltimore County

by Julia Sanders February 17, 2021

PIKESVILLE, MD. — MD Energy Advisors has provided a $3 million commercial property-assessed clean energy (CPACE) loan to Garver Development Group to fund renovations to the former Port City Press printing facility in Baltimore County. The 177,000-square-foot property is located at 1323 Greenwood Road in Pikesville. Garver Development acquired the facility in 2020. The former owner, a Pennsylvania-based entity doing business as 1323 Greenwood LLC, closed the plant in early 2018 and the site has remained vacant. CPACE is a financing structure in which building owners borrow money for energy efficiency, renewable energy, or other projects and make repayments via an assessment on their property tax bill, according to the U.S. Department of Energy. CPACE loans are non-recourse debt products on a 20- to 25-year term and amortization schedule and feature a fixed interest rate routinely under 6 percent. Garver Development plans to convert approximately two-thirds of the building into a use that will support self-storage under the Self Storage Plus brand, as well as storage options for cars and small recreational vehicles. The balance of the space, representing approximately 32,000 square feet, will be transformed into an area that can be used for various light industrial and warehouse applications. …

February 17, 2021

Acquisitions Industrial Midwest Wisconsin

Evergreen Trading Acquires 179,000 SF Distribution Center in Wisconsin

by Kristin Harlow February 17, 2021

RHINELANDER, WIS. — Evergreen Trading has acquired a 179,000-square-foot distribution center in Rhinelander in northern Wisconsin. The purchase price was undisclosed. Formerly occupied by Petco, the facility features 150,000 square feet of warehouse space, 20,000 square feet of office space and 9,000 square feet of cold storage space. Justin Felix and Andy Lubinski of CBRE represented Petco in the sale. David Opper of CBRE represented Evergreen, which is a financial solutions and media investment company. The property was purchased as part of a larger business deal between Petco and Evergreen, which has since relisted the facility for sale or lease with Felix and Lubinski.

February 17, 2021

Acquisitions Industrial Michigan Midwest Self-Storage

Marcus & Millichap Arranges Sale of 764-Unit Self-Storage Facility Near Grand Rapids

by Kristin Harlow February 17, 2021

COMSTOCK PARK, MICH. — Marcus & Millichap has arranged the sale of a CubeSmart self-storage property in Comstock Park, about six miles north of Grand Rapids. The facility spans 79,420 square feet with 764 climate-controlled units. The property, which opened in January 2020, sits on 3.2 acres at 4150 Alpine Ave. Brian Kelly, Brett Hatcher and Gabriel Coe of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also secured the buyer, Pogoda Cos. The sales price was undisclosed.

February 17, 2021

Industrial Leasing Activity Midwest Missouri

Sunpro Solar Signs 20,380 SF Industrial Lease in Riverside, Missouri

by Kristin Harlow February 17, 2021

RIVERSIDE, MO. — Sunpro Solar has signed a 20,380-square-foot industrial lease at Belgium Business Park Building 2 in Riverside, just north of Kansas City. The Class A property spans 100,000 square feet and is fully leased. Mark Long and John Hassler of Newmark Zimmer represented the landlord, a subsidiary of Green Bay Packaging. Nick Tinnel of True North Industrial Realty LLC represented the tenant, which is a solar panel installation company.

February 17, 2021

Acquisitions Industrial Self-Storage Texas

HPI Real Estate Purchases 775-Unit Extra Space Self-Storage Facility in San Antonio

by Taylor Williams February 17, 2021

SAN ANTONIO — HPI Real Estate has purchased a 775-unit self-storage facility that is situated on a 2.4-acre tract at 5611 Lone Star Parkway in San Antonio. The facility, which is operated by Extra Space Storage, opened in 2017 and spans 93,050 net rentable square feet. Zack Urow and Ryan Clark of Tampa-based SkyView Advisors represented the undisclosed seller in the transaction.

February 17, 2021

Acquisitions Arizona California Colorado Industrial Loans Western

CBRE Arranges $46.7M Acquisition Loan for Four-Property Industrial Portfolio in Western United States

by Amy Works February 17, 2021

ENGLEWOOD, COLO., COMPTON AND STOCKTON, CALIF., AND PHOENIX — CBRE has secured a $46.7 million loan on behalf of San Diego-based Westcore Properties for the acquisition of a four-property industrial portfolio in Colorado, California and Arizona. Totaling 704,065 square feet, the assets are 14101 E. Otero Avenue in Englewood, 19515 S. Susana Road in Compton, 1551 S. Fresno Avenue in Stockton and 4455 W. Camelback Road in Phoenix. The properties have a combined vacancy rate of more than 50 percent, providing a value-add opportunity to reposition the space for new tenants. Mark McGovern, Brian Cruz and Colby Matzke of CBRE’s Debt and Structured Finance team in San Diego arranged the loan for the buyer.

February 17, 2021

Development Industrial Nevada Western

SunCap Property, Diamond Realty Investments to Develop SunPoint West Industrial Campus in North Las Vegas

by Amy Works February 17, 2021

NORTH LAS VEGAS — SunCap Property Group, along with Diamond Realty Investments, has closed on a 39-acre land parcel in North Las Vegas for the development of SunPoint West, a speculative industrial project. Bounded by West Cheyenne and Brooks avenues and Coleman and Clayton streets, the six-building property will offer buildings ranging in size from 55,473 square feet to 238,057 square feet for single or multi-tenant users. Site work is slated to begin in April, with the first building shell scheduled for delivery by the end of the year. Chris Lane, Jerry Doty, Paul Sweetland and Dan Doherty of Colliers International’s Doherty Industrial Team represented the buyers in the land acquisition.

February 17, 2021

Acquisitions Florida Industrial Southeast

Lexington Realty Trust Purchases Industrial Facility in Lakeland, Florida for $22.3M

by John Nelson February 16, 2021

LAKELAND, FLA. — Lex Lakeland LLC, an affiliate of Lexington Realty Trust, has purchased a 222,134-square-foot industrial property at 5275 Drane Field Road in Lakeland for $22.3 million. The newly constructed, tilt-wall facility is located on 19.5 acres approximately 2.8 miles from Interstate 4. Ryan Vaught, Robyn Hurrell and Oliver de la Croix-Vaubois of Colliers International represented the seller, Fort Wayne, Ind.-based Bobeck Real Estate, in the transaction. The buyer, a New York-based real estate investment trust (REIT), was self-represented. At the time of the sale, the Lakeland property was 52.9 percent leased to Motion Industries, which occupies 117,440 square feet. Motion Industries is an industrial solutions company based in Birmingham, Ala.

February 16, 2021

Acquisitions Florida Industrial Leasing Activity Southeast

Cushman & Wakefield Arranges $14.5M Sale-Leaseback for Industrial Facility in Orlando

by John Nelson February 16, 2021

ORLANDO, FLA. — Cushman & Wakefield has arranged a $14.5 million sale-leaseback for a distribution facility in Orlando. GES, a Las Vegas-based marketing and logistics partner for the exhibition and convention industry, is the seller and the sole tenant of the property. Skye Cook, Brad Torell, Jared Bonshire, David Perez, Taylor Zambito, Rick Colon, Mike Davis and Rick Brugge of Cushman & Wakefield represented GES in the transaction. An affiliate of Coral Springs, Fla.-based Eisenberg Investment Group acquired the property. Located at 4805 W. Sand Lake Road, the 192,700-square-foot property is situated on 17 acres and is used for GES’ regional and international operations. The property includes 44,167 square feet of two-story office space, a trailer storage yard, onsite weigh station, clear heights of 21 feet to 29 feet, 38 dock doors and 254 parking spaces. The GES facility is located 12 miles from Walt Disney World Resort.

February 16, 2021

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