ROUND ROCK, TEXAS — NAI Partners has negotiated a 23,172-square-foot industrial lease for Westwinds Wholesale Doors in the northern Austin suburb of Round Rock. The company will occupy space within Settlers Crossing, which is a four-building industrial park spanning approximately 330,000 square feet, according to the Austin Chamber of Commerce. NAI Partners’ Troy Martin represented the tenant in the lease negotiations. Adam Green with Stream Realty represented the landlord.
LAS VEGAS — Nigro Construction has started construction of Mountain West Industrial Park in southwest Las Vegas. The 252,900-square-foot warehouse project is located at 7210 W. Post Road. The first phase consists of three industrial shell buildings on 16.5 acres, with completion slated for third-quarter 2021. The first phase will offer units ranging from 6,400 square feet to 71,500 square feet with 30-foot minimum clearance heights in the warehouse areas, 10-foot glass storefront office entries and metal canopies. The second phase includes an additional 45,000 square feet of industrial space on the remaining acres of the property.
HUDSON, N.H. — NAI Norwood Group has negotiated the sale of Hudson Self Storage, a 321-unit facility in Hudson, located outside Nashua near the New Hampshire-Massachusetts border. The property totals 39,825 net rentable square feet. Joseph Mendola of NAI Norwood represented the undisclosed seller and the institutional buyer in the transaction. The sales price was $4.8 million.
WHITEHOUSE STATION, N.J. — Locally based brokerage firm Kislak Commercial Real Estate Services Inc. has arranged the $3.9 million sale of a 44,300-square-foot industrial property in the Northern New Jersey community of Whitehouse Station. Peter Wisniewski of Kislak represented the seller, Palumbo Realty LLC, in the transaction. Wisniewski also procured the buyer, 27 Ridge Road LLC.
TACOMA, WASH. — A fund sponsored by CBRE Global Investors has purchased Portside 55, three industrial buildings located 30 miles south of downtown Seattle in the Port of Tacoma. Terms of the sale were not released. Totaling 428,010 square feet, the park was 100 percent leased at the time of sale. The property comprises the 155,100-square-foot Building A and the 51,900-square-foot Building B, both located at 1514 Taylor Way, and the 221,010-square-foot Building C located at 3401 Lincoln Ave. The buildings feature 30-foot to 32-foot clear heights, 50-foot by 50-foot column spacing, large truck courts, a total of 91 dock doors, 289 parking stalls, an ESFR fire suppression system, heavy power and LED lighting. Additionally, the site offers the potential for railcar service. Portside 55 sits on nearly 20 acres that is under a ground lease with the Port of Tacoma through 2067, with an extension through July 2092.
By Mirela Mohan of STORAGECafé The self-storage industry closed 2020 on an upward path, seeing stable or rising rental rates and elevated construction activity across the board after an uncertain year. According to our data, new construction stayed on a steady trajectory throughout the year, with 49.4 million square feet of new product added nationally — slightly less than the volume of new development in 2019. This came as a natural consequence of the high existing inventory which, combined with the shock of the pandemic, eventually led to the asking rate plunge in the first half of 2020. Rates Plunge, Then Revive The existing high inventories put downward pressure on asking rates in 2020, and the arrival of the pandemic only accentuated the existing trend. However, after rents bottomed out at $112 per month in May, street rates started picking up. By December 2020, national street rates had reached $118 per month, a 3.5 percent year-over-year increase. This slow but steady supply growth was mostly linked to consistent demand that emerged from both traditional sources such as moving and downsizing, as well as from new sources created by last year’s disruptive events. For example, college students began to need short-term …
GLENDALE, ARIZ. — Reich Brothers has purchased a 620,000-square-foot distribution facility located on 30 acres in Glendale. Terms of the acquisition were not released. The undisclosed seller made interior and exterior improvements to the site, including the addition of a 3.5-acre trailer lot adjacent the property, and completed lease-up of the facility. Reich Brothers plans to continue to upgrade and maintain the facility for distribution and logistics tenants. Dynarex, an Orangeburg, N.Y.-based medical supplies company, has signed a lease to occupy 250,000 square feet at the property. Thyssenkrupp’s 3PL division occupies the remainder of the asset. Located at 7811 N. Glen Harbor Blvd., the 620,000-square-foot building features clear heights ranging from 32 feet to 40 feet and 43 dock-high doors. Additionally, the site offers access to Loop 101 and Interstate 10.
FORNEY, TEXAS — Kansas City-based VanTrust Real Estate LLC will develop Forney Distribution Center, a 621,874-square-foot speculative industrial building in the eastern Dallas suburb of Forney. The property will be located at the intersection of U.S. Highway 80 and South Gateway Boulevard. Construction is scheduled to begin in April and to be complete in May 2022. CBRE is leasing the project.
SUMMERVILLE, S.C. — Frampton Construction Co. LLC has completed a 189,500-square-foot industrial building in Summerville. The Class A speculative facility, developed by Randolph Development, is the first of two heavy industrial buildings that will comprise Portside Distribution Center. Plans on the second building are currently underway, and Randolph expects to break ground later this spring. The new Portside Distribution Center building, located near Interstate 26, is meant for a variety of end users including logistics companies, aerospace and automotive suppliers, defense contractors, light manufacturers and last-mile distributors. With 32-foot clear heights, the facility features structural steel and load-bearing concrete tilt walls. The building is divisible to 28,944 square feet and features 33 dock doors and two drive-in doors. Thomas & Hutton provided site, civil and landscape design for the 31-acre development, while McMillan Pazdan Smith provided architectural design. Colliers International is handling the leasing of the property. Construction was completed in December 2020.
PISCATAWAY, N.J. — Insite Property Group has acquired Statewide Self Storage, a facility located in the Northern New Jersey city of Piscataway. The property is situated on three acres and features 66,000 net rentable square feet of drive-up and interior space across more than 600 units. Insite plans to implement a renovation that will deliver new signage, a revamped facade, improved lighting and fresh landscaping and paint jobs. The new ownership will also operate the property and rebrand it as SecureSpace Stelton. The seller was not disclosed.