FAIRFIELD, N.J. — A partnership between Chicago-based Venture One Real Estate and Kovitz Investment Group has acquired a two-building, 72,045-square-foot industrial portfolio in Fairfield, about 25 miles west of New York City. The first building totals 46,536 square feet and was built in 1981, while the second building spans 25,509 square feet and was constructed in 1980. The portfolio was fully leased to five tenants at the time of sale. Thomas Atler of Graham Realty Group LLC represented the seller in the transaction.
ABERDEEN, MD. — A fund sponsored by Los Angeles-based CBRE Global Investors has acquired a two-building, 1.4 million-square-foot industrial portfolio in Aberdeen for an undisclosed price. The two buildings are located at 521 and 531 Chelsea Road, 34 miles northeast of the Port of Baltimore and five miles east of Interstate 95. The buildings serve as warehouse/distribution centers and were fully leased at the time of sale to tenants including cosmetics retailer Sephora and home appliance manufacturer Electrolux. The building housing Electrolux spans 692,000 square feet and was originally developed in 2012. The building at 531 Chelsea Road totals 655,800 square feet and was completed in 2014. Both properties are LEED Silver-certified and feature 40-foot clear heights, 50-foot-by-50-foot column spacing and truck and car parking. Bo Cashman and Jonathan Beard of CBRE represented the undisclosed seller in the transaction.
CHARLOTTE, N.C. — Cushman & Wakefield has brokered the $18.5 million sale of Northridge Business Center, a four-building office and warehouse property in Charlotte. The buildings total 174,506 square feet and are situated at 5005-5035 W. W.T. Harris Blvd. in Charlotte’s West Sugar Creek neighborhood. Northridge Business Center was 92 percent leased at the time of sale. Nolan Ashton and Rob Cochran of Cushman & Wakefield represented the seller, SkyREM, in the transaction. SunCap Opportunity Fund LLC, a privately held, national commercial real estate investment firm, acquired the property.
DETROIT — Amazon has unveiled plans to open six new fulfillment and sortation centers in metro Detroit this year in order to support operations closer to customers. The sites are expected to create more than 2,000 full- and part-time jobs. In addition to a robotics fulfillment center in Detroit, Amazon will build centers in Hazel Park, Pinnacle Park (2), Plymouth and Pontiac. The new Detroit property will span 823,000 square feet and is expected to create 1,200 new full-time jobs upon its opening. Amazon currently operates 10 facilities in Detroit that support customer fulfillment and delivery operations, including four properties that opened in 2020. Since 2010, Amazon has created more than 13,500 jobs in Michigan and invested more than $2.5 billion across the state, including infrastructure and compensation to its employees.
ELK GROVE VILLAGE, ILL. — Marcus & Millichap has brokered the $6.9 million sale of a 95,000-square-foot industrial property in Elk Grove Village near Chicago’s O’Hare International Airport. The facility is located at 855 Morse Ave. Peter Doughty of Marcus & Millichap marketed the property on behalf of the seller, a partnership. Doughty also procured the buyer, Texas-based AIC Ventures.
ROSENBERG, TEXAS — Bellomy & Co. has arranged the sale of Texas Storage, a 335-unit self-storage facility in Rosenberg, a southwestern suburb of Houston. The property spans 44,718 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, locally based firm Diehl Investments II LP, in the transaction. The duo also procured the buyer, Delaware-based BCORE Storage Jennetta LP.
DALLAS — ProPak Logistics has signed a 103,085-square-foot industrial lease at 8801 Autobahn Drive in South Dallas. According to LoopNet Inc., the property was built in 1997 and totals 270,490 square feet. Canon Shoults and John Gorman of Holt Lunsford Commercial represented the landlord, Boston-based TA Realty, in the lease negotiations. Michael Meaden of CBRE represented the tenant.
SOUDERTON, PA. — Atlanta-based Core5 Industrial Partners has begun construction on Core5 Logistics Center at Park 31, a 591,360-square-foot speculative industrial project that will be situated on 74.4 acres in Souderton, about 35 miles north of Philadelphia. The first phase of the development will consist of two buildings totaling approximately 400,000 square feet that are expected to be complete in the third quarter. Michael Golarz and Tom Golarz of Colliers International are handling leasing of the project.
MISSION VIEJO, CALIF. — Faris Lee Investments has arranged the purchase of a vacant flex office/industrial building located at 23311 Madero in Mission Viejo. A Beverly Hills-based company acquired the property for $4.7 million in an all-cash transaction. The buyer plans to redevelop the site and market it for a long-term user. Tom Chichester and Nick D’Argenzio of Faris Lee Investments represented the buyer in the transaction.
BOWLING GREEN, KY. — Ball Corp. plans to open a new 500,000-square-foot building in Bowling Green that will serve as a manufacturing facility for aluminum can tops. According to the Kentucky Economic Development Finance Authority, Ball will invest $305 million to develop the facility. The Westminster, Colo.-based company expects to create 200 jobs at the property, which is scheduled to open in early 2022. The project’s construction is also expected to support 391 jobs. The facility will be situated within Transpark, a 300-acre industrial development owned by the City of Bowling Green and Warren County. Ball will be the first tenant at the site. Transpark has CSX Railroad service through the southern end of the property and is located five miles from Interstate 65. A design team for the project was not disclosed. Ball supplies aluminum packaging solutions for beverage, personal care and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government.