BRIDGEWATER, MASS. — Massachusetts-based design/build firm Dacon has completed a 23,500-square-foot cannabis cultivation facility in Bridgewater, located south of Boston. The project is a build-to-suit for Theory Wellness, a provider of medical and recreational cannabis products with operations in Maine and Massachusetts. The space includes two climate-sensitive growth labs, two extraction labs and a manufacturing area.
WASECA, MINN. — Phoenix Investors has acquired a 248,291-square-foot industrial flex building in Waseca for an undisclosed price. Phoenix plans to implement a capital improvement plan to reinvigorate the space for new users. There is currently 100,000 square feet available for lease. The facility sits on 19.7 acres at 229 Johnson Ave. SW. Dave Schoof of Coldwell Banker Commercial Fisher Group brokered the sale. The acquisition expands Phoenix’s footprint to 23 states.
CONROE, TEXAS — New York City-based Merit Hill Capital has acquired A-Another Storage, a 421-unit self-storage facility in Conroe, about 40 miles north of Houston. The property spans 52,480 square feet. Craig Rice and Cole Rice of CSD Realty represented the seller, an entity doing business as A-Another Storage LLC, in the transaction and procured Merit Hill Capital as the buyer.
AUSTIN, TEXAS — Move Solutions Ltd., which provides office moving services, has signed a 107,537-square-foot industrial lease at Park 183, a development in southeast Austin by Trammell Crow Co. and New York-based Clarion Partners. Development of Park 183 is currently in its third of four phases that will ultimately total more than 950,000 square feet of industrial space. John Barksdale, Darryl Dadon and Joe Novek of CBRE represented the landlord in the lease negotiations. Robert Deptula and Stayton Wright of Transwestern represented Move Solutions.
SOMERSET, N.J. — CustomPictureFrames.com, a manufacturer of picture and other framing solutions, has acquired a 45,300-square-foot industrial building at 6 Shirley Ave. in Somerset, located in Northern New Jersey. Bill Waxman and Christopher Griffith of CBRE represented the buyer, which will relocate from nearby South River, in its site selection and negotiations. Bussel Realty Corp. represented the seller, Emby Hosiery Corp.
GLENDALE, ARIZ. — Cold Summit Development is planning Cold Summit PHX, a speculative cold storage facility and the company’s first project in the Phoenix metro area. Sitework and construction are slated to begin immediately for completion by December 2021. The project is located at 9600 N. 151st Ave. in Glendale within the Woolf Logistics Park with Class I railway connectivity through BNSF. The 357,000-square-foot project, which is expandable to 485,000 square feet, will include high-quality office space, flexible structural bay spacing to accommodate multiple racking configurations, a 51-foor clear height in the warehouse with full temperature convertibility, 156 trailer drop spots and more than 75,000 pallet positions.
MILLIKEN, COLO. — Avison Young has brokered the sale-leaseback of Ranger Energy Services’ mission-critical facility located at 3333 E. Center Drive in Milliken. Salt Lake City-based The Ninigret Group acquired the asset from Ranger Energy Services (NYSE: RNGR) for $13 million. Ranger Energy Services signed a long-term lease to continue to occupy the 131,389-square-foot facility, which was built in 2000 on 23.3 acres. The tenant utilizes the facility for oil and gas operations, including fleet maintenance and storage supporting the operations of Ranger’s region-wide DJ Basin energy services business. Ranger is an independent provider of well service rigs and associated services in the United States, with a focus on unconventional horizontal well completion and production operations. Rick Egitto, Dawn McCombs, Kevin Hann, Jonathan Hipp and Rich Murphy of Avison Young represented the seller and sourced the buyer in the deal.
PHOENIX — CBRE has arranged the sale-leaseback of an industrial property located at 1815 Deer Valley Road in Phoenix. A private, Los Angeles-based investor acquired the asset for $6.9 million, or $140 per square foot. Regency Technologies, an IT asset conversion service provider, sold the facility and signed a 10-year, triple-net lease to occupy the 49,815-square-foot property. Geoffrey Turbow, Matt Pourcho, Gary Stache, Anthony DeLorenzo, Bryan Johnson, Gary Cornish, Rusty Kennedy, Pat Feeney and Danny Calihan of CBRE represented the seller in the transaction.
PHILADELPHIA — NAI Mertz has negotiated a 200,000-square-foot industrial lease in the Port Richmond neighborhood of northeast Philadelphia. The building at 225 Castor Ave. features clear heights of 15 and 16 feet, 14 loading docks and 1,512 square feet of office space. Jonathan Klear and Fred Meyer of NAI Mertz represented the landlord in the lease negotiations. The tenant is Dependable Distribution Services Inc., the largest cocoa bean storage company in North America that also recently signed a 71,445-square-foot lease in nearby Camden, New Jersey.
MONROE, OHIO — The Kroger Co. (NYSE: KR) has opened its first customer fulfillment center (CFC) in the country. The 375,000-square-foot facility is located in Monroe, a city north of Cincinnati. The CFC can fulfill thousands of orders per day and has the capability to support fulfillment of pickup orders. Powered by Ocado Group, a grocery e-commerce company, the CFC combines vertical integration, machine learning and robotics with affordable and fast delivery service for fresh food, according to Kroger. Onsite associates will support delivery operations and help process, package and load orders. The Monroe CFC will employ nearly 400 associates. After placing an order via Kroger’s website or app, customers in regions where there is a CFC will have their groceries delivered by a Kroger delivery associate in a temperature-controlled van. The Kroger delivery network will also continue to leverage stores and third-party partners to deliver certain orders. In May 2018, Kroger and Ocado formed an exclusive partnership for the rollout of CFCs across the country. The companies also plan to roll out components of the software solutions into Kroger stores in order to support fulfillment of curbside pickup orders. A CFC in Groveland, Fla. near Orlando is scheduled to …
