HOUSTON — Marcus & Millichap has brokered the sale of Big Space Storage, a 279-unit self-storage facility in Houston. The property was built in 2016 and spans 137,760 net rentable square feet. Dave Knobler and Casey Kral of Marcus & Millichap represented the seller, a partnership, and procured the buyer, a limited liability company. Both parties requested anonymity.
KEARNY, N.J. — Pennsylvania-based investment firm Seagis Property Group has received a $65 million loan for the refinancing of a 415,533-square-foot industrial building located at 50 Central Ave. in Kearny, located west of New York City. The newly built property features 40-foot clear heights and 88 overhead doors and was fully leased at the time of the loan closing. New York Life Real Estate Investors provided the loan.
PLEASANT PRAIRIE, WIS. — Principle Construction Corp. has completed a 96,305-square-foot expansion to a 194,611-square-foot industrial building located at 10411 80th Ave. in Pleasant Prairie. Principle, which constructed the original building in 2017, completed the expansion on a speculative basis on behalf of the new owner STAG Industrial. The property features a clear height of 36 feet, 20 dock doors, 81 auto parking stalls and office space. Partners in Design Architects provided design services.
LONG ISLAND CITY, N.Y. — Newmark Knight Frank (NKF) has negotiated the $40 million sale of a 196,000-square-foot industrial development site located at 24-02 Queens Plaza in Long Island City. Brian Ezratty and Scott Ellard of NKF represented the seller, Atlas Capital Group, in the transaction. Bill Harvey, also with NKF, represented the undisclosed buyer, which plans to develop a 270,000-square-foot facility on the site.
NASHVILLE, TENN. — Cushman & Wakefield has arranged the sale of phases I and II of Airport Logistics Park, a 397,981-square-foot industrial park in Nashville. The first two phases of development span 52.7 acres and include six buildings that were leased to 14 tenants at the time of sale. The property is located at 1922 Old Murfreesboro Pike, four miles southeast of Nashville International Airport. Stewart Calhoun, Casey Masters, David McGahren and Ronnie Wenzler of Cushman & Wakefield represented the seller, Holladay Properties, in the transaction. Starwood Real Estate Income Trust acquired the asset for an undisclosed price. Holladay is still developing Phase III of the park, which will include five buildings totaling 328,500 square feet. The first building of Phase III is expected to be delivered in the first quarter of 2021. When Phase III is complete, the park will comprise 95 acres.
PHILADELPHIA — Nerd Street Gamers, a provider of infrastructure services for the esports industry, will open The Block, an esports campus at 401 N. Broad St. in Philadelphia. Christian Dyer and Jackie Balin of CBRE represented data center owner-operator Netrality, which owns the 1.3 million-square-foot building, in the lease negotiations. The space will not only function as Nerd Street Gamers’ new corporate headquarters, but it will also include global broadcast studios, dedicated training centers for professional teams and schools and educational space for community partners.
TOMS RIVER, N.J. — Marcus & Millichap has brokered the sale of a 45,000-square-foot industrial flex property located at 60 Northampton Road in the coastal New Jersey city of Toms River. Charles Loccisano and Michael Lombardi of Marcus & Millichap co-brokered the sale along with Rosetto Realty Group on behalf of both the buyer and the seller. Both parties were limited liability companies that requested anonymity.
MESQUITE, TEXAS — Stream Realty Partners has negotiated a 203,040-square-foot industrial lease at Urban District 30 in the eastern Dallas suburb of Mesquite. For the tenant, online light bulb retailer 1000Bulbs.com, the lease represents an expansion of 60 percent of its previous warehouse capacity. Matt Dornak and Drew Feagin of Stream Realty Partners represented the landlord, Urban Logistics Realty, in the lease negotiations. Blake Kendrick and Seth Koschak, also with Stream Realty Partners, represented the tenant. At full completion, which is slated for the fourth quarter, Urban District 30 will total approximately 977,000 square feet across five buildings.
OKLAHOMA CITY — New Jersey-based Monmouth Real Estate Investment Corp. has acquired a 120,780-square-foot industrial building at 6101 SW 44th St. in Oklahoma City for $15.2 million. The property is situated on 22 acres and is net-leased to Amazon.com Services LLC for 10 years. According to LoopNet Inc., the property was built in 2019 and features 30- to 32-foot clear heights and a 5 percent office finish. The seller was not disclosed.
PHOENIX — Trammell Crow Co. (TCC) and its partner, CBRE U.S. Development Partners 5, a fund sponsored by CBRE Global Investors, have completed Park Aldea. The 356,000-square-foot industrial development is located in Phoenix. Situated on 27 acres west of the intersection of 99th Avenue and Cardinals Way, the property features the 74,164-square-foot Building A, the 76,322-square-foot Building B, the 87,296-square-foot Building C and the 118,241-square-foot Building D. The buildings offer divisibility down to 7,280 square feet. The facilities feature ESFR sprinkler systems, clear heights ranging from 24 feet to 32 feet, building depths ranging from 140 feet to 222 feet, and truck courts that range in size from 130 feet to 180 feet. Green Worldwide, an international shipping company, has signed a lease to occupy Building C, located at 10200 W. Montebello Ave. The company plans to move to the new facility at the end of 2020. Mitchell Stravitz, Cooper Fratt and Tanner Ferrandi of CBRE Phoenix serve as leasing agents for the project. Ted Liles of Cresa represented Green Worldwide in its lease.