CINCINNATI — Stan Johnson Co. has brokered the sale of a 134,000-square-foot industrial building in Cincinnati for approximately $29 million. Located at 3191 Railside Ave., the last-mile facility is fully leased to an undisclosed e-commerce company. The newly constructed facility sits on 22.5 acres. Craig Tomlinson and John Zimmerman of Stan Johnson represented the seller, Neyer Properties. EXAN Group represented the buyer, a discretionary Spanish commercial real estate group. The property is part of a larger tract of land that Neyer had acquired in recent years from the city.
ITASCA, ILL. — Costco-Innovel Solutions has signed a long-term lease to occupy 111,909 square feet of Building I at Bridge Point Itasca, a three-building, 741,162-square-foot industrial campus in Itasca. Costco will use the facility for last-mile distribution of consumer products. The company will begin occupying the space immediately while the developer, Bridge Development Partners, continues to build out the interior space. Bridge Point Itasca is now 65 percent leased. It was completed this summer. Chris Nelson and Jeffrey Janda of Lee & Associates represented Bridge in the lease transaction. Chris Lydon and Brian Pomorski of Avison Young represented Costco, which acquired logistics company Innovel Solutions earlier this year.
WILMINGTON, MASS. — CBRE has negotiated the $55 million sale of an industrial portfolio in Wilmington, located on the northern outskirts of Boston. The portfolio consists of four buildings totaling 255,678 square feet and was 88 percent leased at the time of sale to a tenant roster that includes Bimbo Bakeries, Aramark and Tesla. New Hampshire-based Carlisle Capital sold the portfolio to a joint venture between Boston-based Oliver Street Capital and Bain Capital Real Estate. Scott Dragos, Chris Skeffington, Doug Jacoby, Tim Mulhall, Tony Hayes, Roy Sandeman and Daniel Hines of CBRE represented both parties in the transaction.
DALLAS — Marcus & Millichap has arranged the sale of a 61,406-square-foot industrial building located at 8888 Governors Row in the Brook Hollow area of Dallas. The property was built on 2.5 acres in 1963 and renovated in 1965. Adam Abushagur of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity.
ROCK HILL, S.C. — JLL has arranged the $14.7 million sale of a 129,600-square-foot light manufacturing facility in Rock Hill. The seller, Scannell Properties, delivered the asset earlier this year on a build-to-suit basis for tenant DIRTT Environmental Solutions. DIRTT creates and develops customizable and sustainable architectural interiors. The property spans 22 acres within Legacy Park East. The facility is situated at 2225 Williams Industrial Blvd., less than one mile from Interstate 77 and 27 miles south of Charlotte Douglas International Airport. Patrick Nally and Pete Pittroff of JLL represented the seller in the transaction. STAG Industrial Inc. acquired the facility.
TAUNTON, MASS. — CBRE has negotiated the $28.6 million sale of a 181,900-square-foot warehouse in Taunton, about 40 miles south of Boston. Built in 2002, the property was fully leased to third-party logistics provider DHL Supply Chain at the time of sale. The facility sits on 11.3 acres and offers a clear height of 32 feet, two-sided loading that allows for multi-tenant functionality, an ESFR sprinkler system and truck courts for excess trailer storage. Chris Skeffington, Scott Dragos, Doug Jacoby, Roy Sandeman, Tim Mulhall, Daniel Hines and Tony Hayes of CBRE represented the seller, Invesco Real Estate, in the marketing and sale negotiations.
EASTON, MASS. — Markward Group has brokered the sale of an 83,320-square-foot industrial property in Easton, located on the southern outskirts of Boston. The property was built on 6.6 acres in 1990 and was leased to CADCo Distribution, which services the outdoor power equipment industry, at the time of sale. Matt Macdonald of Markward Group represented the seller, Asbeshaus Trust, which sold the asset to Congdon Investments for an undisclosed price.
RENO, NEV. — Panattoni Development, serving as developer, has completed northern Nevada’s first Amazon last-mile facility, located at the intersection of Virginia Street and Stead Boulevard in Reno. Constructed in five months, the 145,602-square-foot building will enable Amazon to be fully operational for the holiday season. A last-mile facility serves as the final distribution hub prior to delivery to end-users, enabling shipments to be delivered as quickly as possible. The project team included Alston Construction, Architects Orange and Odyssey Engineering Inc.
OTAY MESA, CALIF. — Rockefeller Group has started construction of Airway Industrial Park, a distribution center located on a 7.8-acre site in Otay Mesa. When complete, the project will be Rockefeller’s first development in the South San Diego industrial market. Slated for completion in June 2021, Airway Industrial Park will offer 135,623 square feet of distribution space and 137 auto parking spaces. The project team includes Ware Malcomb as architect and Dempsey Construction has general contractor. Rich Kwasny and Bob Mooney of Colliers International are marketing the property, which will be available for lease or sale.
BROOMFIELD, COLO. — Westcore has purchased an 11-building industrial complex at West Midway Boulevard and Burbanks Street in Broomfield. Commander Leasing LLC sold the asset for $48 million. Westcore plans to implement an extensive renovation and branding plan at the 509,164-square-foot campus. Renovations include a new paint scheme, parking lot upgrades and various other improvements. Tyler Carner, Jeremy Ballenger, Jim Bolt and Jessica Osternick of CBRE represented the seller, while Westcore was self-represented in the deal.