HAYWARD, CALIF. — Colliers International has arranged the sale of a light industrial property located at 3340 Arden Road in Hayward. Roxborough Group sold the asset to Berkley Partners for $20.7 million. At the time of sale, the three-building, 102,122-square-foot facility was 87 percent occupied. Greig Lagomarsino and Nick Ousman of Colliers represented the seller and buyer in the transaction.
WARRENDALE, PA. — Postal Realty Trust (NYSE: PSTL), a New York-based REIT, has acquired a 431,000-square-foot industrial building located in the northern Pittsburgh suburb of Warrendale for $47 million. The property was fully leased at the time of sale to three tenants, with a USPS processing and distribution facility occupying roughly 75 percent of the space. The other tenants are Omnicell Inc., a provider of operational solutions for healthcare facilities, and DBC Real Estate Management LLC, a regional multifamily owner-operator. The seller was not disclosed. Postal Realty Trust now owns 714 properties in 47 states totaling 2.6 million square feet of net leasable commercial space.
EAST BRUNSWICK, N.J. — Pennsylvania-based self-storage REIT CubeSmart has opened a 1,100-unit facility in the Northern New Jersey city of East Brunswick. New Jersey-based TFE Properties developed the facility, which spans more than 130,000 square feet of net rentable space. The facility is located along State Route 18 at the site of a former Kmart and is situated within TFE’s Junction Pointe retail project.
FREEHOLD, N.J. — CBRE has negotiated the $4.9 million sale of a 46,000-square-foot industrial building in Freehold, located in the central part of the state. The property was built on 10 acres in 1984. Charles Berger, Elli Klapper and Mark Silverman of CBRE represented the seller, L&M Realty Associates LLC, which originally acquired the asset for $3.5 million in 2013. The team also procured the buyer, a New Jersey-based limited liability company.
HARTWELL, GA. — Nestlé Purina PetCare Co. has unveiled plans to invest $550 million to expand its pet food manufacturing facility in Hartwell, located in Northeast Georgia. The expansion, which is expected to create up to 130 jobs, comes just one year after the factory opened in November 2019. By expanding the facility, Purina will add more processing, packaging and warehousing capacity. The expansion is also part of a broader growth plan for Purina, which includes new factories recently announced in Williamsburg Township, Ohio, and Eden, N.C. Purina brands feed 49 million dogs and 66 million cats each year, according to the company. The Hartwell location produces several of the company’s flagship brands, including Fancy Feast. When Purina first announced plans for the Hartwell facility in 2017, it committed to investing $320 million and employing 240 people. Purina will now combine $320 million of refinanced bonds to a new $550 million investment, according to local paper The Hartwell Sun. Purina now expects to employ up to 370 people by the end of 2025, and the new jobs in Hartwell will include positions in manufacturing and assembly. Purina expects to complete construction of the expansion by the end of 2021. Currently, …
MEDLEY, FLA. — First Industrial Realty Trust has broken ground on First Park Miami, a 2.5 million-square-foot industrial campus in Medley. Phase I will comprise three buildings totaling 600,000 square feet. The facilities will feature 32- to 36-foot clear heights, ESFR sprinkler systems and 120- to 180-foot truck courts. Phase I is expected to be delivered in third-quarter 2021. Butters Construction & Development is the general contractor, while RLC Architects is the designer. At full buildout, First Park Miami will comprise 13 buildings spanning 2.5 million square feet. The property is situated on 126 acres along NW 87th Avenue between NW 80th and 90th streets, nine miles north of Miami International Airport and 14 miles northwest of PortMiami.
RESTON, VA. AND KENSINGTON, MD. — Arcland Property Co. has opened two self-storage facilities totaling 2,414 units. The first property is located at 1808 Michael Faraday Court in Reston. The four-story building is situated 20 miles west of downtown Washington, D.C. The property offers 1,100 climate-controlled and drive-up units. According to property manager Self Storage Plus, rents at the facility range from $31 to $443 per month. The second property is located at 4900 Nicholson Court in Kensington, 12 miles north of downtown D.C. The asset offers 68 drive-up and 1,246 climate-controlled units. Rents at the location range from $28 to $434 per month. Self Storage Plus will manage both properties, marking the Washington, D.C.-based company’s 44th and 45th managed facilities.
OKLAHOMA CITY — Amazon (NASDAQ: AMZN) will open a 1 million-square-foot fulfillment center in Oklahoma City in a move that is expected to create about 500 new full-time jobs. The developer and location of the facility, which is expected to open some time in 2021, were not disclosed. Since 2010, Amazon has created more than 4,000 jobs in Oklahoma and invested more than $650 million across the state, including infrastructure and compensation to its employees. The company also recently announced plans to open new facilities in metro Houston and Waco.
ARLINGTON, TEXAS — JLL has negotiated the sale of Park Row Logistics Center, a 155,425-square-foot industrial building in Arlington. Built on 9.2 acres in 2019, the property was fully leased to e-commerce servicer Mochila Fulfillment at the time of sale. Building features include 32-foot clear heights, 180-foot truck court depths and 28 trailer parking spaces. Dustin Volz, Stephen Bailey, Zach Riebe and Austin Ross of JLL represented the seller, a partnership between Stream Realty Partners and LaSalle Investment Management, in the deal. The buyer was New York-based Clarion Partners.
PORTAGE, MICH. — Meridian Design Build has completed construction of a 320,988-square-foot package sortation and distribution center in Portage within Southwest Michigan. Scannell Properties was the developer. The facility is a build-to-suit for an undisclosed provider of global shipping and information services. The building sits on 37.4 acres at 6701 Portage Road. The facility features 87 loading docks, eight drive-in doors and 10,441 square feet of office space. Precept LLC provided both architectural and structural design services while Paradigm Design handled the civil engineering work.
