COLUMBUS, OHIO — Industrial Realty Group has acquired the former Columbus Dispatch printing facility in Columbus for $11.5 million. The 450,000-square-foot property is located at 5300 Crosswind Drive and sits on roughly 65 acres within the Southwest Airport Industrial Park. It has been vacant since spring 2020. Aiden Cleghorn of BellCornerstone and Curt Berlin of NAI Ohio Equities represented the seller, Gannett Co. Inc.
SAN FRANCISCO — SBC Investors LLC has completed the sale of an 8.2-acre land site located at 200-212 Shaw Road, 214-218 Shaw Road and 1264-1272 San Mateo Ave. in San Francisco. Prologis acquired the property for an undisclosed price. The 8.2-acre site is adjacent to San Francisco International Airport and U.S. Route 101, connecting South San Francisco to the rest of the Bay Area. Additionally, the property is roughly four blocks from the BART San Bruno station and five blocks from the CalTrain San Bruno station. Darla Longo, Rebecca Perlmutter, Marshall Hydorn, David Black and Karl Hansen of CBRE represented the seller, while the buyer was self-represented in the deal.
ANNAPOLIS, MD. — A joint venture between Realterm and J.P Morgan Asset Management has acquired a 54-property, 1.8 million-square-foot industrial portfolio. The properties are located in 28 states and are in markets including Atlanta, Chicago, Dallas, New York, Philadelphia and New Jersey. The portfolio spans a total of 717 acres and features 2,090 doors. The sales price was not disclosed, though funding was provided through the Realterm Logistics Income Fund (RLIF) in a 50/50 joint venture with institutional investors advised by J.P. Morgan Asset Management. Annapolis-based Realterm will manage the portfolio. Avison Young represented the undisclosed seller in the transaction.
SHEPHERDSVILLE, KY. — Atlanta-based Core5 Industrial Partners has broken ground on Bourbon Logistics Center 3, a 1 million-square-foot industrial facility in Shepherdsville. The property is being built on a speculative basis and will feature 40-foot clear heights, 750 parking spaces, 336 trailer spaces and the potential for three-sided dock loading. The facility will be the largest spec development in the history of the Louisville MSA, according to JLL. The previous record was held by another Core5 property, the adjacent Bourbon Logistics Center 1, which is 4,000 square feet smaller than its neighbor. Bourbon Logistics Center 3 is situated along Ky. Highway 245 near the Interstate 65 interchange and 23 miles south of Louisville Muhammad Ali International Airport. MacGregor Associates Architects designed the asset, and Mindel, Scott & Associates Inc. is the civil engineer. Powell Spears and Matt Hartlage of JLL will market the property on behalf of the owner. A timeline for completion was not disclosed.
HOUSTON — Chicago-based investment firm Dayton Street Partners has acquired a 500,000-square-foot logistics property in northeast Houston that features a 333-door truck terminal and a 33-bay maintenance facility. The property is situated on 90 acres at 5800 Mesa Drive, just south of Interstate 610 and less than 10 miles from Port Houston. Dayton Street Partners will undertake a multimillion-dollar renovation of the terminal and the development of 25 acres for secured trailer parking. The undisclosed seller was a private investor.
HASLET, TEXAS — Bellomy & Co. has brokered the sale of Life Storage, a 623-unit self-storage facility in Haslet, located approximately 16 miles from downtown Fort Worth. The property spans 78,950 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, a locally based limited partnership, in the transaction. The duo also procured the buyer, New York-based Angelo Gordon Real Estate Inc.
KANSAS CITY, KAN. — Industrial Logistics Properties Trust (NASDAQ: ILPT) has purchased a Class A warehouse in Kansas City for $44 million. Built in 2018, the 645,000-square-foot building is situated on 57 acres at 17001 W. Mercury St. The property is fully leased to one tenant, which has 12 years remaining on its lease. The sales price represents a cap rate of 6.5 percent. Industrial Logistics Properties Trust is a publicly traded REIT with 301 properties spanning 43.8 million rentable square feet in its portfolio as of Sept. 30.
BURLINGTON, N.J. — Lee & Associates has brokered the $110.5 million sale of a 116.8-acre industrial redevelopment site in the Southern New Jersey city of Burlington. The property currently houses a 1 million-square-foot warehouse that was previously occupied by the U.S. General Services Administration and will be decommissioned. The new ownership, a partnership between New York-based Clarion Partners and MRP Industrial, plans to build two Class A distribution centers on the site on a speculative basis. Bob Yoshimura, Joe Hill, Eric Mattson and Joe Hill Jr. of Lee & Associates represented the seller, Boston-based STAG Industrial, in the deal.
NEW YORK CITY — DH Property Holdings has broken ground on a 370,000-square-foot industrial project at 640 Columbia St. in Brooklyn. The site spans 4.5 acres and is located in the Red Hook waterfront district. The three-story building will feature 18- to 28-foot clear heights, 130-foot truck court depths, office space and parking for up to 184 vehicles. Ware Malcomb is the project architect; Suffolk Construction is the general contractor, and Bohler is the civil engineer. Completion is slated for the fourth quarter.
RUNNEMEDE, N.J. — CBRE has arranged the $29.3 million sale of Runnemede Corporate Center, a seven-building, 304,077-square-foot light industrial portfolio in Runnemede, located outside Philadelphia in Southern New Jersey. The sale included four development parcels with the capacity to house 125,000 square feet of new product. Michael Hines, Brian Fiumara, Brad Ruppel and Lauren Dawicki of CBRE represented the seller, Richards & Robbins, in the transaction. The buyer was industrial investment firm Faropoint. Tenants at the property include Stryker Orthopaedics, Cintas Corp., Scotts Lawn Service, GardaWorld and United Rentals Realty.
