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Industrial

11-Centennial-Drive-Peabody-Massachusetts
AcquisitionsIndustrialMassachusettsNortheast

Longpoint Realty Acquires 271,592 SF Industrial Property in Peabody, Massachusetts

by Taylor Williams

PEABODY, MASS. —Locally based investment firm Longpoint Realty Partners has acquired a 217,592-square-foot industrial property located at 11 Centennial Drive in Peabody, a northern suburb of Boston. The property is situated within the 300-acre Centennial Park mixed-use campus and was fully leased to drug wholesaler Cardinal Health (NYSE: CAH) at the time of sale. Robert Griffin, Tony Coskren, Ed Jarosz, Matthew Pullen, Rick Schuhwerk, Samantha Hallowell, Lizzie Kusbit and Dominick Romano of Newmark represented the seller and the buyer in the transaction.

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AcquisitionsFloridaIndustrialSoutheast

Cushman & Wakefield Arranges $20.4M Sale of Industrial Property in Metro Orlando

by Alex Tostado

ALTAMONTE SPRINGS, FLA. — Cushman & Wakefield has arranged the $20.4 million sale of Altamonte Commerce Center, an eight-building, 185,600-square-foot industrial property in Altamonte Springs. The buildings are situated on 13.2 acres, one half-mile from Interstate 4 and 11 miles north of downtown Orlando. The portfolio was 96 percent leased at the time of sale. The buildings offer 1,000- to 14,800-square-foot spaces. Mike Davis, Rick Colon, Rick Brugge and Dominic Montazemi, with support from Jared Bonshire, David Perez, Zachary Eicholtz, Ryan Jenkins and Jordan Stenholm of Cushman & Wakefield represented the seller, SunCap Opportunity Fund LLC. Longpoint Realty Partners acquired the property for $110 per square foot.

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IndustrialLoansSouth CarolinaSoutheast

Ready Capital Closes $9.7M in Acquisition, Renovation Financing for Industrial Property in Greenville

by Alex Tostado

GREENVILLE, S.C. — Ready Capital has closed $9.7 million in acquisition and renovation financing for a 320,000-square-foot industrial property in Greenville. The 36-month, non-recourse loan features a floating interest rate and interest-only payments. The Class B asset is situated along Interstate 385. Upon acquisition, the undisclosed sponsor will implement a capital improvement plan to upgrade and subsequently lease-up the property. Improvements include roof and HVAC repairs, improved lighting, sprinkler system upgrades and fresh paint.

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DevelopmentIndustrialKansasMidwest

Contegra Construction Completes First Distribution Facility at Turner Logistics Center in Kansas City

by Kristin Harlow

KANSAS CITY, KAN. — Contegra Construction Co. has completed the first of several planned distribution facilities at NorthPoint Development’s Turner Logistics Center in Kansas City. The 408,000-square-foot building features a clear height of 36 feet, 36 dock doors with four drive-in ramps, parking for 210 vehicles and a small office. The 250-acre Turner Logistics Center has the capacity for 3 million square feet of industrial space. Contegra also completed infrastructure improvements to support future development.

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AcquisitionsIndustrialOklahomaSelf-StorageTexas

SkyView Advisors Brokers Sale of 467-Unit Self-Storage Facility in Oklahoma City

by Taylor Williams

OKLAHOMA CITY — Tampa-based SkyView Advisors has brokered the sale of A&W Storage, a 467-unit self-storage facility located at 4800-4900 S. Sunnylane Road in Oklahoma City. The property is situated on 5.2 acres and spans 88,020 net rentable square feet. Richard Riddle, Ryan Clark and Zack Urow of SkyView Advisors represented the locally based seller in the transaction. The buyer was an undisclosed institutional investor.

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DevelopmentIndustrialNevadaWestern

Panattoni Development Completes 550,601 SF Logistics Center in North Las Vegas

by Amy Works

NORTH LAS VEGAS, NEV. — Panattoni Development has completed North 15 Logistics, a 550,601-square-foot industrial project on 30 acres at the intersection of Interstate 15 and Speedway Boulevard in North Las Vegas. North 15 Logistics features two buildings with up to 36-foot clear heights, ESFR sprinkler systems, R-30 roof batt insulation and concrete truck courts. The tenant improvements are now complete, and Ruby Has occupies 373,363 square feet at the project. With six warehouse locations across the United States and Canada, Ruby Has offers third-party logistics using technology and integration to allow for faster shipping and a reduction in freight costs. A comingled fund managed by Clarion Partners owns the project, with Panattoni Development serving as developer. Alston Construction served as contractor and HPA Architecture served as architect.

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10300-W-Buckeye-Tolleson-AZ
AcquisitionsArizonaIndustrialWestern

Stos Partners Enters Metro Phoenix Market with 227,000 SF Industrial Acquisition

by Amy Works

TOLLESON, ARIZ. — Stos Partners has purchased a single-tenant industrial property located at 10300 W. Buckeye in Tolleson. A private seller sold the asset for $16.3 million in an off-market transaction. The acquisition marks Stos Partners’ entrance to the metro Phoenix market. Built in two phases in 2005 and 2016, the 227,000-square-foot property features 32-foot clear heights and dock-high loading doors. At the time of sale, an undisclosed tenant fully occupied the building. Bob Broyles of Colliers International and Jeff Hays of Commercial Properties represented the buyer and seller in the deal.

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8767-Rochester-Ave-Rancho-Cucamonga-CA
AcquisitionsCaliforniaIndustrialWestern

Avison Young Brokers Sale of 45,702 SF Single-Tenant Industrial Property in Rancho Cucamonga

by Amy Works

RANCHO CUCAMONGA, CALIF. — Avison Young has arranged the acquisition of a single-tenant industrial building, located at 8767 Rochester Ave. in Rancho Cucamonga. An Orange County-based private investor purchased the asset from a local private owner for an undisclosed price. Built in 1989 on nearly two acres, the 45,702-square-foot building features 24-foot clear heights, eight dock-high loading doors and a partial second-floor office. Alan Pekarcik and Chris Smith of Avison Young represented the buyer, while Ryan Velasquez and Milo Lipson of Cushman & Wakefield represented the seller in the transaction.

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IndustrialLeasing ActivityNew JerseyNortheast

National Tree Signs 608,442 SF Industrial Lease in East Windsor, New Jersey

by Taylor Williams

EAST WINDSOR, N.J. — National Tree Co., a New Jersey-based provider of decorative Christmas items, has signed a 608,442-square-foot industrial lease in East Windsor, a suburb of Trenton. The tenant will occupy the entirety of the building at 150 Milford Road, which is owned by Nevada-based Dermody Properties, for the next seven years. Andrew Warren with Atlantic Real Estate Services represented National Tree Co. in the lease negotiations. Mindy Lissner of CBRE represented the landlord.

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Garelick-Farms-Lynn-Massachusetts
AcquisitionsIndustrialMassachusettsNortheast

A.W. Perry, Novaya Real Estate Acquire 250,000 SF Industrial Facility in Metro Boston

by Taylor Williams

LYNN, MASS. — A partnership between Boston-based investment firm A.W. Perry and Novaya Real Estate Ventures has acquired a 250,000-square-foot industrial facility located in the northern Boston suburb of Lynn. The sale included an adjacent 10-acre parcel, an assemblage that formerly housed a manufacturing operation for dairy producer Garelick Farms. Now called Lynnway Park, the facility houses 60,000 square feet of cold storage space and can also support light industrial and biomanufacturing uses. Cushman & Wakefield represented the seller, Dean Foods, and procured the buyer in the transaction.

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