SPRING, TEXAS — Marcus & Millichap has brokered the sale of A-1 Mini Storage, a 280-unit self-storage facility in the northern Houston suburb of Spring that primarily offers climate-controlled space in. Brandon Karr, Danny Cunningham and Dave Knobler of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Other terms of sale were not disclosed.
EDWARDSVILLE, ILL. — FedEx Supply Chain has leased 769,500 square feet of industrial space at Lakeview Commerce Center in Edwardsville near St. Louis. FedEx will occupy the entirety of Lakeview V, which is located at 3919 Lakeview Corporate Drive. The lease brings FedEx’s total footprint in the area to more than 2 million square feet. Brian Kelley and Timothy Convy of Avison Young and Fischer & Co. represented FedEx in the lease. CBRE represented the owner, Panattoni Development.
RAVENNA, OHIO — Industrial Commercial Properties (ICP) has acquired a GE Lighting warehouse and distribution building spanning 420,500 square feet in Ravenna, about 15 miles east of Akron. The property sits on 37.5 acres at 150 Loomis Parkway. GE will remain in a portion of the building for a short period of time, but 150,000 square feet will be available for lease immediately, according to ICP. Building features include more than 30 docks, 100 trailer parking spots and rail service. ICP plans to make substantial upgrades to the property, including upgrades to both interior and exterior lighting, a modernized sprinkler system and pavement and interior renovations. Additionally, the developer has 12 acres contiguous to the property under contract. The land could support expansion of the building to 800,000 square feet. This transaction marks ICP’s eighth acquisition in 2021, bringing the company’s portfolio to more than 150 properties and 42 million square feet across five states.
VISALIA, CALIF. — The Visalia Industrial Park (VIP) continues to grow with numerous projects underway. VIP includes a 425,000-square-foot UPS facility, a 1.3 million-square-foot fulfillment center coming online this summer and two speculative, 300,000-square-foot warehouses, one of which is pre-leased, are nearing completion. Additionally, more than 2.5 million square feet of further industrial space is planned. Millipore Sigma established a $28 million distribution center at the park, while Sorma is planning to expand into a new location and California Dairies’ facilities have undergone expansions. The City of Visalia has invested $152 million to expand the city’s wastewater treatment plant, creating space for another significant water user. The park offers rail access, access to State Route 99, expanded roadways and enhanced utilities.
BROOKHAVEN, N.Y. — Woodmont Industrial Partners has sold a 130,565-square-foot facility located at 100 Precision Drive in the Long Island town of Brookhaven. BlackRock Real Assets purchased the asset for $30.7 million on behalf of one of its institutional clients. The 12.6-acre property was originally built in 2002 and is located less than half a mile from the Long Island Expressway. Woodmont acquired the asset in 2019 and implemented a capital improvement program.
CAMDEN, N.J. — Dependable Distribution Services, the largest cocoa bean storage company in North America, has signed a 71,445-square-foot industrial lease at 1120 Ferry Ave. in Camden, located near Philadelphia in Southern New Jersey. Marc Isdaner and Richard Gorodesky of Colliers International represented the tenant in the negotiations for the full-building lease. Ian Richman, also with Colliers, represented the undisclosed landlord.
CHANDLER, ARIZ. — A joint venture between Conor Commercial Real Estate and WHI Real Estate Partners have completed the disposition of the first phase of Lotus Project to a Chicago-based investment advisor. The acquisition price was not released. Located in Chandler, the newly built industrial park features four state-of-the-art advanced manufacturing and light industrial buildings offering a total of 473,516 square feet. The project is one of the largest Class A industrial parks in Chandler and was 96 percent leased at the time of sale. Each building features 32-foot clear heights, 50-foot by 56-foot column spacing with 56-foot by 60-foot speed bays, 29 truck docks, a 210-foot shared truck court and abundant parking. Additionally, all buildings offer ample power, skylights, six-inch reinforced concrete floors, LED lighting and ESFR sprinkler systems. Recently, the development team broke ground on the second phase of Lotus Project, which will include three industrial buildings totaling nearly 300,000 square feet on a 21-acre site. The new buildings will offer 24-foot to 32-foot clear heights, 60 dock doors, eight drive-in doors, 558 parking spaces and 55-foot speed bays. Will Strong, Jeff Chiate, Jeffrey Cole, Mike Adey, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial …
RIFLE, COLO. — Stan Johnson Co. has arranged the sale of an industrial building located at 185 Gemat Circle in the Western Colorado city of Rifle. A Southern California-based private investor acquired the property from Blue Wing Capital Management for $3.1 million. Beacon Roofing Supply, a distributor of residential and non-residential roofing and complementary building products, occupies the 37,864-square-foot facility. Built in 2010 on two acres, the property offers access to Interstate 70 and is approximately one hour northwest of Aspen. David Wirgler of Stan Johnson Co. represented the seller in the deal.
PHILLIPSBURG, N.J. — Bridge Development Partners has unveiled plans for Bridge Point 78 Phase II, an industrial project that will feature two buildings totaling roughly 1.6 million square feet in Phillipsburg, located near Allentown, Pennsylvania. Phase II will consist of a 1.4 million-square-foot building and a 262,500-square-foot building that will feature clear heights of 36 to 40 feet, cross-dock configurations and ample parking for trucks and cars. Preliminary work on the 100-acre site began in December, and vertical construction is expected to begin this summer and to be fully complete in the first quarter of 2022. Phase I of Bridge Point 78 consisted of 2.2 million square feet across four buildings that is leased to Japanese clothing manufacturer and retailer UNIQLO, lawn care manufacturer ScottsMiracle-Gro and beverage distributor Mark Anthony Brands. Bridge Development sold Phase I to PGIM Real Estate in November 2020.
CONSHOHOCKEN, PA. — Green Chef, a meal kit provider that was acquired by HelloFresh in 2018, has signed a 170,160-square-foot industrial lease renewal and expansion in Conshohocken, a northern suburb of Philadelphia. The company’s expanded space is located at 1130 Commerce Blvd., a 386,026-square-foot, cross-dock distribution center that is owned by Indianapolis-based Duke Realty. Dennis Someck and Justin Myers of Lee & Associates represented Green Chef in the lease negotiations. Scott Henderson represented Duke Realty on an internal basis.