MONTGOMERYVILLE, PA. — Binswanger Commercial Real Estate Services has arranged the sale of a 171,646-square-foot industrial property located at 425 Stump Road in Montgomeryville, a northern suburb of Philadelphia. The sales price was $8.5 million. Built on 9.8 acres in 1970, the property features 12 dock-high doors, 16-foot clear heights and 20,000 square feet of office space. Chris Pennington and Tim Pennington of Binswanger represented the seller, specialty gift maker Harriet Carter, in the transaction.
STAFFORD, TEXAS — Crow Holdings Industrial has acquired 34.3 acres in the southwestern Houston suburb of Stafford for the development of a 568,084-square-foot industrial project. The three-building development will be located at 13223 Murphy Road at the site of the former Weatherford family farm. Crow Holdings expects to deliver the property in fall 2021. Barkley Peschel and Jason Scholtz of Colliers International represented the undisclosed seller of the land and will handle leasing of the property along with Walter Menuet of Colliers. Cory Driskill and Travis Covington represented Crow Holdings on an internal basis.
HILLSBORO, ORE. — Denver-based Stack Infrastructure has broken ground on POR03, its newest data center campus in Hillsboro. Located at 4735 NE Starr Blvd., the 28-acre campus will feature a 180,000-square-foot facility offering 24 megawatts (MW), slated for delivery in third-quarter 2021. The new data center is located less than a quarter mile from a new 34.5 kilovolt (kV) substation, with power supplied by Portland General Electric. It is located on the Wave Business Hillsboro Data Center Ring, which offers high-count fiber connectivity and transpacific subsea cable access. The planned four-building campus will offer a total capacity of 84 MW at complete build out. Stack currently operates to other data center facilities in the Hillsboro region with a total of 28.8 MW that includes 3 MW of immediately available capacity, along with a neighboring build-to-suit campus with 12 MW of potential capacity. At full build out, Stack’s capacity in Hillsboro will total more than 125 MW.
LOS ANGELES — Dovetail Furniture & Designs has purchased a warehouse asset located at 14150 S. Figueroa St. in Los Angeles. AJ Wholesale sold the asset for $7.2 million. With its corporate headquarters located next door at 14000 S. Figueroa St., Dovetail plans to use the 41,723-square-foot building for warehouse and distribution space. The company sells handmade furniture, accessories and textiles from around the world. Matthew Stringfellow, Courtney Bell and Tyler Rollema of The Klabin Company/CORFAC International represented the buyer, while the seller was self-represented in the transaction.
MILWAUKEE — An affiliate of fifteenfortyseven Critical Systems Realty LLC, in partnership with Harrison Street, has acquired Milwaukee’s historic Wells Building. The purchase price was $7.25 million, according to the Milwaukee Business Journal. The 15-story, 165,000-square-foot building is located at 324 E. Wisconsin Ave. and dates back to 1901. The property has a long history as a communications center and once served as the Milwaukee headquarters for Western Union Telegraph Co. Today, the building serves as a carrier hotel and data center. A carrier hotel is a building in a downtown location that houses networks and cloud services. The buyer plans to make significant investments in the building’s power and cooling infrastructure. Ascendant Holdings LLC, a Wisconsin-based commercial real estate development and investment company, was the seller.
ERLANGER, KY. — NorthMarq has arranged a $4.2 million refinancing loan for Donaldson Road Center I, a two-building, 121,000-square-foot industrial property in Erlanger. An undisclosed life insurance company provided the 10-year loan, which features a 25-year amortization schedule. The facility is located at 1360-1390 Donaldson Road, three miles southeast of Cincinnati/Northern Kentucky International Airport and 11 miles southwest of downtown Cincinnati. The facilities were leased to tenants including Fry Fastening Systems, Trane Supply and Sherwin-Williams Commercial Paint Store at the time of the loan closing. The borrower was not disclosed.
DEFOREST, WIS. — Lee & Associates has brokered the $1.1 million sale of a 16,000-square-foot industrial building in DeForest, just north of Madison. The property is located at 4159 Reardon Road. Blake George of Lee & Associates represented the seller, CHEEE Holdings LLC. The buyer, CAH CO DeForest LLC, will use the property as a vehicle maintenance facility for Hooper Corp.
GOODYEAR, ARIZ. — An affiliate of Mack Real Estate Group (MREG) has purchased The Hub at Goodyear, a new industrial facility located at 305 S. Bullard Ave. in Goodyear. Terms of the transaction were not released. The 793,862-square-foot property features a cross-dock configuration, 40-foot clear heights, 144 dock-high doors, four grade-level doors and 190-foot full concrete truck doors. Additionally, the site provides parking for 192 trailers and 420 cars, and egress and ingress with access via Bullard and 143rd avenues. Pat Feeney, Dan Calihan, Rusty Kennedy and James Cohn of CBRE’s Phoenix office represented the buyer in the transaction. MREG has also retained the CBRE team to handle leasing of the property. Bruce Francis of CBRE Capital Markets Debt & Structured Finance arranged acquisition financing for the buyer.
EL PASO, TEXAS — TJX Cos., the Massachusetts-based corporation that owns major discount retailers such as T.J. Maxx and Marshalls, will open a $150 million distribution center in El Paso, a move that will bring about 1,000 full-time jobs to the borderplex region. The facility could ultimately feature as much as 2 million square feet of industrial space. According to The El Paso Times, the proposed site for the facility is a 200-acre tract at Global Reach Drive and George Perry Boulevard in East El Paso that is owned by the El Paso International Airport. The paper also reports that Marmaxx Operating Corp., the affiliate of TJX Cos. that operates T.J. Maxx and Marshalls, received $14.3 million in tax rebates and other incentives for the project.
HOUSTON — Spicy World of USA Inc., a family-owned distributor of ethnic foods, has sold its 32,554-square-foot industrial facility located at 10421 SW Plaza Drive in Houston. According to LoopNet Inc., the property was built in 2004 and features 26-foot clear heights. Sam Chang of Henry S. Miller Brokerage represented Spicy World, which will relocate to a 68,000-square-foot distribution center in Stafford, in the deal. Bryan Tran with BHW Capital represented the buyer, Red Sea Properties LLC.