Industrial

Realterm Acquires 274,000 SF Tacoma Gateway II Industrial Property Near Seattle

by Amy Works November 24, 2021

TACOMA, WASH. — Realterm has purchased Tacoma Gateway II from a partnership between Panattoni Development Co. and Crow Holdings Capital for an undisclosed price. Located at 12005 Steele St. South in Tacoma, Tacoma Gateway II is a newly developed, 274,000-square-foot distribution building with dock-high and grade-level loading, 36-foot clear heights and more than 200 trailer parking stalls on an adjacent 4.7-acre yard. Unis, a third-party logistics company, fully occupies the property, which was completed in July 2021. Brett Hartzell of CBRE’s National Partners Group and Shawn Childs and Monte Decker of CBRE’s Tacoma and Seattle offices represented the seller in the transaction.

November 24, 2021

Acquisitions Industrial Self-Storage Texas

Simply Self Storage Buys 9,878-Unit Self-Storage Portfolio in Houston, Dallas

by Taylor Williams November 24, 2021

HOUSTON AND DALLAS — Orlando-based Simply Self Storage has purchased a portfolio of 14 facilities in the Houston and Dallas areas totaling 9,878 units. The specific names and locations of the properties were not disclosed. The portfolio spans more than 1 million net rentable square feet, of which nearly two-thirds is climate-controlled space. Aaron Swerdlin and Kenneth Cox of Newmark represented Simply Self Storage in the transaction. The seller and sales price were also not disclosed.

November 24, 2021

Industrial Loans Midwest Ohio

Ready Capital Closes $8M Acquisition Loan for Industrial Property in Dayton, Ohio

by Kristin Harlow November 24, 2021

DAYTON, OHIO — Ready Capital has closed an $8 million loan for the acquisition and stabilization of a 196,000-square-foot industrial property in the Miamisburg submarket of Dayton. The buyer plans to address deferred maintenance and increase rents as tenants’ leases expire. The nonrecourse loan features interest-only payments, a floating rate and a four-year term.

November 24, 2021

Industrial Leasing Activity Texas

Newmark Negotiates 861,840 SF Industrial Lease in Fort Worth

by Taylor Williams November 24, 2021

FORT WORTH, TEXAS — Newmark has negotiated an 861,840-square-foot industrial lease at 11900 S. Freeway Service Road in Fort Worth. Gary Lindsey and Ladson Montgomery of Newmark represented the tenant, Saddle Creek Logistics, in the lease negotiations. CBRE represented the landlord, an entity doing business as FW I-35 Logistics 1 LLC. According to the Fort Worth Business Press, the tenant plans to operate a distribution center out of the facility, which features 40-foot clear heights and 120 dock doors.

November 24, 2021

Development Industrial Texas Top Stories

Samsung to Build $17B Semiconductor Manufacturing Facility in Taylor, Texas

by Kristin Harlow November 24, 2021

TAYLOR, TEXAS — Samsung Electronics Co. Ltd. has unveiled plans to build a $17 billion semiconductor manufacturing facility in Taylor, about 35 miles northeast of Austin. The facility will manufacture products based on advanced process technologies for application in areas such as mobile, 5G, high-performance computing and artificial intelligence. South Korea-based Samsung says the project marks its largest-ever investment in the U.S. and will improve supply chain resilience of crucial logic chips. The $17 billion investment includes buildings, property improvements, machinery and equipment. “As we add a new facility in Taylor, Samsung is laying the groundwork for another important chapter in our future,” says Kinam Kim, vice chairman and CEO of Samsung’s device solutions division. “With greater manufacturing capacity, we will be able to better serve the needs of our customers and contribute to the stability of the global semiconductor supply chain.” Construction is expected to begin in the first half of 2022 with completion slated for the second half of 2024. The Taylor site will span more than 53 million square feet and is expected to serve as a key location for Samsung’s global semiconductor manufacturing capacity along with its latest production line in Pyeongtaek, South Korea. Samsung says …

November 24, 2021

Florida Industrial Loans Self-Storage Southeast

Ready Capital Closes $9.3M Loan for Self-Storage Property in Miami Beach

by Julia Sanders November 23, 2021

MIAMI BEACH, FLA. — Ready Capital has closed on a $9.3 million loan for the acquisition, renovation and stabilization of a 696-unit, Class A self-storage property in Miami Beach. Upon acquisition, the sponsor plans to reconfigure the unit mix to drive occupancy and maximize revenue. The non-recourse, interest-only, floating-rate loan features a 48-month term, one extension option and is inclusive of a facility to provide future funding for capital expenditures.

November 23, 2021

Acquisitions Industrial Texas

MDH Partners Acquires Two Industrial Buildings Totaling 954,611 SF in Fort Worth

by Taylor Williams November 23, 2021

FORT WORTH, TEXAS — Atlanta-based investment firm MDH Partners has acquired Everman Crossroads, a two-building industrial complex in Fort Worth totaling 954,611 square feet. The buildings were constructed on a combined 47 acres in 2021. Building 1 totals 310,292 square feet and includes 88 dock doors and 36-foot clear heights. Building 2 spans 644,319 square feet and features 182 dock doors and 40-foot clear heights. Pet food provider Purina occupies Building 1, and Building 2 is available for lease. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and Matthew Barge of JLL represented the seller, a partnership between Dallas-based Bandera Ventures and Invesco Real Estate, in the transaction. Scott Moore of CBRE represented MDH Partners in conjunction with internal agent Georga Rowe.

November 23, 2021

Acquisitions Industrial Midwest Ohio

Colliers Arranges Sale of 1 MSF Fulfillment Center Leased to Bath & Body Works in Ohio

by Kristin Harlow November 23, 2021

COMMERCIAL POINT, OHIO — Colliers has arranged the sale of a 1 million-square-foot e-commerce fulfillment center occupied by Bath & Body Works Inc. in Commercial Point, a southern suburb of Columbus. The sales price was undisclosed. The retailer plans to add 500 employees to its central Ohio workforce to fill online orders at the facility. Located at 514 Exchange Way, the property is the first building within the 875-acre Rickenbacker Exchange at Commercial Point industrial park. Alex Cantu, Jeff Devine, Steve Disse and Michael Linder of Colliers represented the seller, VanTrust Real Estate. The Mid-America Management Corp., an Ohio-based investment firm, was the buyer.

November 23, 2021

Industrial Loans Northeast Pennsylvania

Ready Capital Closes $6.3M Acquisition Loan for South Philadelphia Industrial Property

by Taylor Williams November 23, 2021

PHILADELPHIA — New York City-based Ready Capital has closed a $6.3 million loan for the acquisition and stabilization of a 40,000-square-foot industrial property in South Philadelphia. The nonrecourse, interest-only loan carried a 48-month term with one extension option, as well as a facility to fund future capital improvements. The borrower was not disclosed.

November 23, 2021

Development Industrial Loans South Carolina Southeast

Patterson Secures JV Equity, Debt Financing for 535,000 SF Industrial Project in Orangeburg, South Carolina

by Julia Sanders November 22, 2021

ORANGEBURG, S.C. — Patterson Real Estate Advisory Group has secured joint venture equity via Pacolet Milliken to develop the first phase of Shamrock Commerce Center, an industrial park in Orangeburg that will ultimately span 2 million square feet across 200 acres. Patterson also secured separate debt financing via United Community Bank, which provided a senior construction loan. The equity and debt financing amounts were not disclosed. Appian Investments/NAI Earle Furman plans to break ground soon on Building A, which will be an approximately 535,000-square-foot industrial facility. Building A will sit on approximately 50 acres at the interchange of Interstate 26 and US Highway 301, about 76.4 miles from the Port of Charleston. Slated for completion by the fourth quarter of 2022, the property will be a cross-dock facility with 36-foot clear heights.

November 22, 2021

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