Industrial

Phillips Realty Capital Secures $57.5M Loan for Industrial Portfolio in Metro Miami, Tampa

by Julia Sanders August 27, 2021

HIALEAH AND TAMPA, FLA. — Washington, D.C.-based Phillips Realty Capital has secured a $57.5 million bridge loan for HighBrook Investors, which is acquiring and repositioning a four-property, 740,400-square-foot industrial portfolio located near Miami and in Tampa. The portfolio includes three buildings in metro Miami and one in Tampa. The metro Miami properties were delivered between 1959 and 1968, and the Tampa warehouse was built in 1987. The Miami-area properties include three industrial warehouses totaling 306,000 square feet. These properties are located at 3455 NW 54th St., 5400 NW 32nd Court and 5530 NW 32nd Court in Hialeah, which is two miles northeast of Miami International Airport and less than six miles northwest of downtown Miami and Port of Miami. Building amenities include reinforced concrete buildings on approximately 10.9 total acres of land with onsite access to a CSX freight rail line. Located at 6708 Harney Road in the East Tampa submarket, the fourth property is a 434,000-square-foot warehouse situated one mile northwest of Interstate 4, six miles northeast of downtown Tampa and eight miles east of Tampa International Airport. The property is located within three miles of two new Amazon fulfillment centers. Additionally, the property includes 13.2 acres of vacant …

August 27, 2021

Acquisitions Industrial Midwest Ohio

MAG Capital Partners Acquires Northern Ohio Industrial Property in Sale-Leaseback

by Kristin Harlow August 27, 2021

MANSFIELD, OHIO — MAG Capital Partners LLC has acquired a three-building industrial property in Mansfield, about midway between Columbus and Cleveland. The purchase price for the sale-leaseback transaction was not disclosed. The 257,622-square-foot property sits on 23 acres at 150 E. Longview Ave. The seller, Nanogate North America, was recently acquired by Techniplas, a provider of highly engineered technical solutions for the automotive, transportation and industrial sectors. Jonathan Wolfe and Jordan Shtulman of Stream Capital Partners represented the seller. Mary Garnett and Jim Tuesley of Barnes & Thornburg LLP represented MAG Capital Partners, which is a Fort Worth, Texas-based private investment firm led by Dax Mitchell and Andrew Gi.

August 27, 2021

Acquisitions Indiana Industrial Midwest

Ziff Real Estate Purchases 215,100 SF Flex Industrial Property in Indianapolis

by Kristin Harlow August 27, 2021

INDIANAPOLIS — Ziff Real Estate Partners has purchased a 215,100-square-foot flex industrial property known as Director’s Row in Indianapolis for an undisclosed price. The property features convenient access to I-465, I-70 and the Indianapolis International Airport. Ziff plans to make significant upgrades to the building, which was nearly 64 percent occupied at the time of sale. Tenants include Fiserv, Rocore Thermal Systems and Evens Time. Tyler Wilson of Colliers International will handle leasing on behalf of Ziff.

August 27, 2021

Acquisitions Industrial Midwest Wisconsin

Lee & Associates Arranges Sale of 17,400 SF Industrial Building in Beloit, Wisconsin

by Kristin Harlow August 27, 2021

BELOIT, WIS. — Lee & Associates has arranged the sale of a 17,400-square-foot industrial building at 1531 E. Gale Drive in southern Wisconsin’s Beloit. The sales price was undisclosed. Blake George of Lee & Associates represented the seller, Frank Beer Distributors Inc. The buyer, Total Plumbing and Heating, plans to open a new facility to serve the Janesville and Beloit areas. The company provides plumbing, heating and air conditioning services.

August 27, 2021

Acquisitions Industrial Office Texas

SkyWalker Property Partners Sells 113,046 SF Flex Building in Irving

by Taylor Williams August 27, 2021

IRVING, TEXAS — SkyWalker Property Partners has sold a 113,046-square-foot flex building located on a 4.7-acre site at 6001 Campus Circle Drive W. in Irving’s Las Colinas district. The property previously served as a data center for Fidelity Investments before the current seller repositioned the building to include warehouse space. Zane Marcell, Chris Stout and Melissa Holland of JLL represented the seller in the transaction. Brett Lewis of Lee & Associates represented the buyer.

August 27, 2021

Acquisitions Industrial Texas

Friedman Real Estate Brokers Sale of 95,000 SF Industrial Flex Building in Houston

by Taylor Williams August 27, 2021

HOUSTON — Friedman Real Estate has brokered the sale of a 95,000-square-foot industrial flex building in Houston. The property is triple-net-leased on a long-term basis to Alorica, a business process outsourcing firm that uses the building as a call center. Steven Silverman of Friedman Real Estate represented the undisclosed buyer in the transaction. The seller and sales price were also not disclosed.

August 27, 2021

Acquisitions Colorado Industrial Office Western

Crescent Real Estate Purchases Two-Building, 119,977 SF Office/Retail Property in Denver

by Amy Works August 27, 2021

DENVER — An affiliate of Crescent Real Estate has acquired a two-building, 119,977-square-foot office and retail property, located at 200-250 Columbine St. in Denver, for $82.7 million. PCCP provided a $56.5 million senior loan for the acquisition of the asset. Western Development Co. sold the property. John Jugl of Newmark represented the seller in the deal. Constructed in 2015, the property features 89,195 square feet of office space and 30,782 square feet of retail space. The eight-story building at 200 Columbine St. features all the office space and 9,856 square feet of restaurant and retail space, as well as a two-story subterranean parking garage. The adjacent seven-story building at 250 Columbine St. features the remaining 20,926 square feet of ground-floor retail space. The building also includes 71 residential condominium units that were not part of the acquisition. The office and retail components of the property were fully occupied at the time of sale.

August 27, 2021

Acquisitions California Industrial Net Lease Office Western

Skyline Group Buys 273,180 SF Glen Bell Way Office/R&D Campus in Irvine, California

by Amy Works August 27, 2021

IRVINE, CALIF. — Taiwan-based Skyline Group International has acquired Glen Bell Way, a Class A office and R&D campus located in downtown Orange County’s Irvine Spectrum. The 273,180-square-foot campus includes: 1 Glen Bell Way, a five-story office building; 3 Glen Bell Way, a one-and-two story R&D and office headquarter building; and 5 Glen Bell Way, a four-level, 911-stall parking structure. The campus is 100 percent triple-net-leased to Yum! Brands and Ford Motor Co. There are 91,457 square feet of remaining entitlements associated with the campus that can be utilized for potential future expansion/office intensification for 3 Glen Bell Way. Kevin Shannon, Paul Jones, Ken White, Brunson Howard and Brandon White of Newmark represented the undisclosed seller in the deal. The acquisition price was not released.

August 27, 2021

Acquisitions Industrial New Jersey Northeast

Marcus & Millichap Brokers $21.1M Sale of Industrial Building in Kearny, New Jersey

by Taylor Williams August 27, 2021

KEARNY, N.J. — Marcus & Millichap has brokered the $21.1 million sale of a 135,000-square-foot industrial building located within an opportunity zone in Kearny, a suburb of Newark. The property includes warehouse and manufacturing space and features clear heights of 15 to 20 feet, nine loading docks and 10,000 square feet of office space. Mark Gjonbalaj, Alan Cafiero, Ben Sgambati and David Adjmi of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity.

August 27, 2021

Acquisitions California Industrial Office Western

Grosvenor Americas Purchases 218,645 SF R&D/Office Property in North San Jose, California

by Amy Works August 26, 2021

SAN JOSE, CALIF. — Grosvenor Americas has acquired Orchard-Trimble, an office and R&D campus located at Orchard Parkway and West Trimble Road in North San Jose’s Golden Triangle. The acquisition price and name of the seller were not released. Toshiba America Electronic Components, the U.S. storage and semiconductor division of Toshiba Corp., occupies the 218,645-square-foot property, which features R&D lab space. The campus is near San Jose International Airport and provides access to downtown San Jose via the VTA Light Rail.

August 26, 2021

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