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Industrial

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AcquisitionsColoradoIndustrialWestern

IOV Acquires 10th Industrial Outdoor Storage Facility in Denver Market

by Amy Works

DENVER — Industrial Outdoor Ventures (IOV) has acquired its 10th property in the Denver area with the purchase of 3750 Nome Street, a 4.9-acre industrial outdoor storage site in Denver’s Airport Central submarket. Terms of the transaction were not released. The property includes a 24,000-square-foot warehouse with a clear height of 22 feet, two drive-in doors and four dock-high positions, as well as a 7,000-square-foot standalone office with additional storage and a private garage. At the time of acquisition, the property was vacant and on the market for lease. Sam Dragan and Mike Camp of CBRE represented the buyer and undisclosed seller in the deal.

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DevelopmentIllinoisIndustrialMidwest

Ryan Cos. Starts Construction on Final Phase of Pullman Crossings Industrial Park in Chicago

by Kristin Harlow

CHICAGO — Ryan Cos. US Inc. has formed a joint venture with Namdar Realty Group and Mason Asset Management to close on the land and start construction of the final phase of Pullman Crossings industrial park in Chicago. The final phase is a 160,000-square-foot speculative facility. Pullman Crossings is a 50-acre industrial park within Pullman Park, a 180-acre mixed-use project being developed by Chicago Neighborhood Initiatives. The new building will feature outdoor eating areas, exterior bike racks, ESFR fire protection and a clear height of 32 feet in the warehouse. Ryan is developing and building the facility with construction financing provided by Bankers Trust. Completion is slated for August 2025.

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Realterm-Titan-Laredo
DevelopmentIndustrialTexas

Realterm, Titan to Develop 440,300 SF Industrial Project in Laredo, Texas

by Taylor Williams

LAREDO, TEXAS — A partnership between Maryland-based investment manager Realterm and regional owner-operator Titan Development will develop a 440,300-square-foot industrial project in the Rio Grande Valley city of Laredo. The cross-dock facility will be situated on a 26-acre site and will be divisible for two tenants. Building features will include 30-foot clear heights, 185-foot truck court depths and 264 trailer parking stalls. Construction is expected to last about 12 months.

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IndustrialLeasing ActivityTexas

GPK Products Signs 31,750 SF Industrial Lease in North Dallas

by Taylor Williams

DALLAS — GPK Products Inc. has signed a 31,750-square-foot industrial lease in North Dallas. The North Dakota-based engineering and fabricating company is taking space at 2727 Realty Road, which is part of the 10-building, 636,725-square-foot Marsh Business Park development. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as GKI Industrial Dallas LLC, in the lease negotiations. John Paul Floyd of CBRE represented the tenant.

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DevelopmentIndustrialLoansNew JerseyNortheast

Ares Provides $135M Construction Loan for Industrial Project in East Hanover, New Jersey

by Taylor Williams

EAST HANOVER, N.J. — Ares Commercial Real Estate has provided a $135 million construction loan for High Point on 10, a 584,000-square-foot industrial project that will be located in East Hanover, about 25 miles west of New York City. The development will have 380,000 square feet of build-to-suit cold storage space that is preleased to operator RealCold. Jordan Roeschlaub, Jonathan Firestone and Nick Scribani of Newmark arranged the debt on behalf of the developer, a partnership between Related Fund Management, Onyx Equities and Russo Development. An expected completion date was not announced.

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DevelopmentIndustrialLoansNew JerseyNortheast

Cushman & Wakefield Arranges Debt, Equity for Industrial Redevelopment in Parsippany, New Jersey

by Taylor Williams

PARSIPPANY, N.J. — Cushman & Wakefield has arranged construction debt and joint venture equity for an industrial redevelopment project in the Northern New Jersey community of Parsippany. The amounts were not disclosed, but the project, which will convert an existing office property, carries a total price tag of $40 million. John Alascio, T.J. Sullivan, Chuck Kohaut, Chris Lentz, Jason Blankfein and Ethan Sokolow of Cushman & Wakefield worked on behalf of the sponsor, Altman Logistics Properties, to secure construction debt from Truist Bank and joint venture equity from a European investor.

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AcquisitionsMississippiSelf-StorageSoutheastTennessee

Gelt Ventures Sells 3,999-Unit Self-Storage Portfolio in Tennessee and Mississippi

by John Nelson

LOS ANGELES — Gelt Ventures LLC has sold an eight-property self-storage portfolio in Tennessee and Mississippi totaling 3,999 units. The facilities are mostly situated in the metro Memphis market, with five assets in Memphis, two in Olive Branch, Miss., and one in Nesbit, Miss. Canadian-based investor Minimal Storage Properties purchased the 487,000-square-foot portfolio for an undisclosed price. Gelt Ventures originally acquired the portfolio in June 2020 for $41 million. The single-story properties were built between 1972 and 2006 and feature commercial office space, manager’s apartments and a mix of drive-up, indoor and climate-controlled units averaging 141 square feet in size. During its ownership period, Los Angeles-based Gelt Ventures carried out capital improvements on the self-storage assets, improved the tenant mix and implemented a revenue management strategy.

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GeorgiaIndustrialLeasing ActivitySoutheast

Lee & Associates Arranges 103,776 SF Industrial Lease in Austell, Georgia

by John Nelson

AUSTELL, GA. — Lee & Associates has arranged a 103,776-square-foot industrial lease at 7815 Third Flag Parkway in Austell, a suburb in Atlanta’s I-20 West submarket. Earnest Machine Products, an industrial fastener distributor based in Cleveland, signed the lease with the landlord, Link Logistics, an industrial real estate owner founded by Blackstone in 2019. Mike Sutter and Rick Tumlin of Lee & Associates’ Atlanta office negotiated the lease deal.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 260-Unit Self-Storage Facility in Hughes Springs, Texas

by Taylor Williams

HUGHES SPRINGS, TEXAS — Marcus & Millichap has brokered the sale of a 260-unit self-storage facility in Hughes Springs, about 140 miles east of Dallas. The facility was built in 2019 and totals 54,100 net rentable square feet, including 20 RV/boat storage spaces. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a local developer, in the transaction and procured the buyer, a Dallas-based investment company.  Both parties requested anonymity.

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AcquisitionsIndustrialTexas

Harbor Capital Buys 51,710 SF Industrial Building in McKinney, Texas

by Taylor Williams

MCKINNEY, TEXAS — Austin-based investment firm Harbor Capital has purchased a 51,710-square-foot industrial building in McKinney, a northern suburb of Dallas. The three-tenant facility at 190 Industrial Blvd. features 24-foot clear heights, grade-level doors, multiple 20-ton bridge cranes and heavy power capabilities. Harbor Capital is partnering with TIG Real Estate Services Inc. to manage the property. The seller and sales price were not disclosed.

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