MARIETTA, GA. — Cushman & Wakefield has negotiated the sale of Kingston Court, a six-property industrial portfolio in Marietta. The facilities total 220,373 square feet and feature 18-foot clear heights and dock-high and drive-in doors in a combination of rear- and front-load configurations. The buildings were originally developed between 1978 and 1981. The portfolio is situated at 2171, 3002, 3061, 3062, 4012 and 4041 Kingston Court, a half-mile from Interstate 75 and 16 miles northwest of downtown Atlanta. Stewart Calhoun and Casey Masters of Cushman & Wakefield represented the seller, Clarion Partners, in the transaction. Dallas-based Stonelake Capital Partners purchased the portfolio for an undisclosed price.
WILMINGTON, N.C. — Inlet Watch Development LLC has sold Storage at 7275 Carolina Beach Road, a 438-unit self-storage facility in Wilmington. The property comprises three buildings totaling 63,550 square feet on seven acres. The asset, which was built in 2018, is situated at 7275 Carolina Beach Road, 10 miles north of downtown Wilmington. Mike Mele and Luke Elliott of Cushman & Wakefield represented the seller in the transaction. Roswell, Ga.-based Reliant Real Estate Management LLC acquired the property for an undisclosed price.
DENVER — Brennan Investment Group has purchased an industrial facility located in Denver’s Interstate 70 Corridor at the intersection of interstates 70 and 225. The acquisition price was not released. Brennan Investment acquired the asset from BlueLinx, which simultaneously leased back the 147,040-square-foot facility. BlueLinx is a distributor of building and industrial products in the United States and operates through a broad network of distribution centers. The buyer purchased the building, including an existing short-term lease, with future options of renewing, re-leasing or redevelopment.
Dedeaux Properties, Ledo Capital Sell Vernon Avenue Logistics Center in Metro Los Angeles for $14.8M
VERNON, CALIF. — A joint venture between Dedeaux Properties and Ledo Capital has completed the disposition of Vernon Avenue Logistics Center, a cold-storage facility located at the intersection of East Vernon and Alcoa avenues in Vernon. A Los Angeles-based family acquired the facility for $14.8 million. Built in March 2020, the 46,422-square-foot property features commercial kitchens, cold prep space, a fully racked cooler and freezer, dry storage space, 32-foot minimum clearances, seven dock-high doors and one ground-loading door fronting a 3,700-square-foot refrigerated dock. Additionally, the building includes 3,000 square feet of office and mezzanine space. The built-to-suit property is fully leased on a long-term basis to a Los Angeles-based restaurant group. Scott Heaton of Colliers International represented the buyer, while Jeff Chiate and Mike Adey of Cushman & Wakefield Capital Markets represented the seller in the deal.
MIRAMAR, CALIF. — San Diego-based Stos Partners has completed the sale of an industrial facility located at 8330 Arjons Drive in Miramar. A private investor acquired the 27,500-square-foot asset for $7.5 million. Stos Partners, in partnership with Boston-based Long Wharf Capital, initially purchased the vacant property in July 2019 for $4.2 million. The partnership implemented a repositioning and lease-up program at the property, ultimately resulting in the disposition of the asset. Bryce Aberg, Brant Aberg and Brooks Campbell of Cushman & Wakefield represented the seller in the deal.
FORT WORTH, TEXAS — Dalfen Industrial has acquired Mark IV Commerce Center, a 1 million-square-foot industrial property located near Interstates 35 and 820 in the Alliance area of Fort Worth. The newly built, Class A development consists of three buildings in front-load and cross-dock configurations and ESFR sprinkler systems. AER Manufacturing recently signed an 80,660-square-foot lease to become the development’s inaugural tenant. The Dallas Business Journal reports that the seller was Crow Holdings Industrial.
IRVING, TEXAS — APL Logistics Warehouse Management Services, a third-party logistics firm based in Singapore, has signed a 121,400-square-foot industrial lease at Passport Logistics Center, located near DFW International Airport in Irving. Blake Kendrick, Sarah Ozanne and Charles Brewer of Stream Realty Partners represented the landlord, Brookfield Properties, in the lease negotiations. Mohr Partners represented the tenant.
CHALFONT, PA. — Binswanger has brokered the sale of a 151,220-square-foot industrial building located at 90 Hamilton St. in Chalfont, about 30 miles north of Philadelphia. The sales price was approximately $6 million. The property sits on 13.7 acres and features 23-foot clear heights and 6,000 square feet of office space. Chris Pennington and Tim Pennington of Binswanger represented the seller, specialty gifts maker Harriet Carter, in the transaction. The buyer was not disclosed.
PINE BROOK, N.J. — Newmark Knight Frank (NKF) has negotiated a 65,000-square-foot industrial lease renewal at 19 Chapin Road in Pine Brook, about 30 miles west of New York City. The property offers 20- to 22-foot clear heights, 76 dock-high doors and ample car parking space. Kevin Murphy and Trevor Patterson of NKF represented the tenant, global manufacturer Doosan Machine Tools, in the lease negotiations. The landlord, Cohen Asset Management, was represented internally.
AKRON, OHIO — ASW Supply Chain Services LLC has signed an 80,000-square-foot industrial lease at 3111 Gilchrist Road in Akron. The supply chain management company provides integrated warehousing, distribution, fulfillment, asset management and transportation services. Bill Sadataki of NAI Pleasant Valley represented the landlord, Raith Capital Partners LLC.