Industrial

CBRE Arranges Sale of 811,817 SF Rocky Mountain Center for Innovation and Technology in Loveland, Colorado

by Amy Works November 4, 2020

LOVELAND, COLO. — CBRE has brokered the sale of Rocky Mountain Center for Innovation and Technology (RMCIT) in Loveland. Bowling Green, Ky.-based Cumberland & Western Resources sold the asset to RMCIT LLC for $15.5 million. Located at 815 14th St. SW, the four-building campus features 811,817 square feet of office and flex industrial space on 177 acres. At the time of sale, the property was leased to a variety of tenants, including Lighting eMotors (formerly Lightning Systems). The property features on-site fiber optic cabling and up to eight megawatts or power capacity. Additional features include secured fencing with controlled access points, ample parking, common and recreational areas, and trucking access on both upper and lower levels. The facility is equipped for both large- and small-scale shipping and receiving operations. Mike Eyer, Mike Camp, Julius Taber and Greg Haynes of CBRE represented the seller in the deal.

November 4, 2020

Acquisitions Industrial Nevada Self-Storage Western

Strategic Storage Growth Trust Acquires 950-Unit Self-Storage Facility in Las Vegas

by Amy Works November 4, 2020

LAS VEGAS, NEV. — Strategic Storage Growth Trust II (SSGT II), a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, has purchased a newly constructed self-storage facility in Las Vegas. Terms of the transaction were not released. Located at 5730 S. Durango Drive, the air-conditioned, 950-unit facility features 99,300 square feet of rentable space, camera surveillance, secured and alarmed doors, gated entry, LED lighting, ground-floor drive-up units, interior climate-controlled units with two easily accessible large capacity elevators, and covered exterior parking for RV/boats. The acquisition represents SSGT II’s first purchase in Las Vegas and the ninth property owned or managed by SmartStop in the Las Vegas market.

November 4, 2020

Development Florida Industrial Southeast

Bridge, PGIM Secure $67M Construction Loan for Speculative Cold Storage Project in South Florida

by John Nelson November 4, 2020

HIALEAH, FLA. — A joint venture between Bridge Development Partners and PGIM Real Estate has secured $67 million in construction financing for Bridge Point Cold Logistics Center, a 312,103-square-foot cold storage facility in Hialeah. The property will be situated on 20.8 acres at NW 162nd St. and NW 102nd Ave., about 20 miles northwest of PortMiami. Steve Roth of CBRE arranged the loan through MetLife. The Bridge-PGIM joint venture plans to break ground on the project this month for delivery in late 2021. Bridge Point Cold Logistics Center will be the first cold storage facility built on a speculative basis in South Florida, according to Bridge Development. The project is also the first cold storage project between Bridge and PGIM, which launched a $150 million program last year for the development and redevelopment of cold storage facilities nationwide.

November 4, 2020

Development Industrial South Carolina Southeast

Marlboro Development Team to Build 208,000 SF Spec Industrial Facility in Dillon, South Carolina

by John Nelson November 4, 2020

DILLON, S.C. — Marlboro Development Team Inc. (MDT) plans to build a 208,000-square-foot speculative industrial facility in Dillon. The Class A property will be situated on 24 acres within the Carolinas I-95 Megasite, an industrial park that fronts Interstate 95 and is located within one mile of the South Carolina Port Authority’s (SCPA) Inland Port Dillon. MDT plans to build the cross-dock facility using tilt-wall construction with 200-foot truck depths, 36-foot clear heights, 50- by 50-foot column spacing and 60- by 50-foot speed bays. The property is also expandable to 534,000 square feet. MDT is a subsidiary of Marlboro Electric Cooperative and controls 4,000 acres surrounding Inland Port Dillon. The new facility, set for completion in third-quarter 2021, is the fourth speculative development underway in the region.

November 4, 2020

Acquisitions Industrial NAI Office Texas

NAI Partners Arranges Sale of 153,000 SF Office, Cold Storage Facility in Metro Houston

by Taylor Williams November 4, 2020

SUGAR LAND, TEXAS — NAI Partners has arranged the sale of a 153,000-square-foot office, cold storage and food processing facility located at 10631 Corporate Drive in the southwestern Houston suburb of Sugar Land. Zane Carman and Clay Pritchett of NAI Partners represented the buyer, an unnamed national food manufacturing company, in the transaction. Jarret Venghaus, David Buescher and Jordan Raney of JLL represented the seller, Midway Corp. Partners LP.

November 4, 2020

Industrial Leasing Activity Retail Texas

Living Spaces Opens 150,000 SF Showroom in North Fort Worth

by Taylor Williams November 4, 2020

FORT WORTH, TEXAS — California-based home furnishing retailer Living Spaces has opened a 150,000-square-foot showroom at 8640 Tehama Ridge Parkway on the north side of Fort Worth. The space will showcase various designs and furniture arrangements for living rooms, dining rooms, bedrooms, home offices and outdoor areas. The space also features a playroom and climbing complex for children. About 100 people have been hired to staff the store, which is the company’s 27th overall.

November 4, 2020

Industrial Leasing Activity NAI Texas

NAI Robert Lynn Negotiates 36,742 SF Industrial Lease in Grand Prairie, Texas

by Taylor Williams November 4, 2020

GRAND PRAIRIE, TEXAS — NAI Robert Lynn has negotiated a 36,742-square-foot industrial lease at 900 Avenue S in the central metroplex city of Grand Prairie. According to LoopNet Inc., the property was built in 1985, totals 125,881 square feet and includes 1,339 square feet of office space. Michael Stanzel of NAI Robert Lynn represented the tenant, wire and cable provider Condumex Inc., in the lease negotiations. Robert Allen of First Industrial Realty Trust represented the landlord on an internal basis.

November 4, 2020

Acquisitions Industrial Texas

Moody Rambin Brokers Sale of 33,000 SF Industrial Property in Northeast Houston

by Taylor Williams November 4, 2020

HOUSTON — Moody Rambin has brokered the sale of Bennington Street Business Park, a two-building, 33,000-square-foot industrial property located at 301 Bennington St. in northeast Houston. The property was built on 1.3 acres in 1979. Jim Autenreith and Stephen Ghedi of Moody Rambin represented the seller, an undisclosed investor, in the transaction. The buyer was also not disclosed.

November 4, 2020

Stauffer-Industrial-Park-Taylor-Pennsylvania

Acquisitions Industrial Northeast Pennsylvania

Cushman & Wakefield Brokers $30M Sale of 711,200 SF Industrial Building Near Scranton

by Taylor Williams November 4, 2020

TAYLOR, PA. — Cushman & Wakefield has brokered the $30 million sale of a 711,200-square-foot industrial building located at 22 Stauffer Industrial Park Drive in Taylor, a southern suburb of Scranton. One of three buildings in Stauffer Industrial Park, the property features 179 dock doors and 35-foot clear heights and was fully leased at the time of sale. Gerry Blinebury, Gary Gabriel and Daniel Walsh of Cushman & Wakefield represented the seller, SK Realty, in the transaction. The buyer was undisclosed.

November 4, 2020

Acquisitions Industrial Northeast Pennsylvania

TSW Alloy Wheels Buys 105,840 SF Industrial Facility in Lehigh Valley

by Taylor Williams November 4, 2020

EASTON, PA. — TSW Alloy Wheels, a provider of custom staggered wheels, has purchased a 105,840-square-foot industrial facility situated on a 9.6-acre site in the Lehigh Valley city of Easton from developer J.G. Petrucci & Co. TSW Alloy Wheels will use the newly built property, which features 36-foot clear heights and an ESFR sprinkler system, as a new regional distribution center. Paul Weiss of PF Weiss Realty brokered the deal.

November 4, 2020

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