Industrial

Birtcher Anderson & Davis, Belay Investment Group Purchases $17.1M Sunstate Business Park in Tampa

by Julia Sanders March 2, 2021

TAMPA, FLA. — A joint venture between Birtcher Anderson & Davis and Belay Investment Group has purchased Sunstate Business Park in Tampa for $17.1 million. The property’s eight buildings total 180,323 square feet of flex and industrial space and are located at the intersection of West Waters Avenue and Sunstate Street, two miles from Tampa International Airport. Ryan Vaught, Robyn Hurrell and Nathan Lynch of Colliers International represented the seller, Indianapolis-based Citimark. The buyer was self-represented. At the time of the sale, Sunstate Business Park was 91.1 percent leased to 26 tenants, including Freedom Scientific Inc., Cooper Speed, Calta’s Fitness Center and American Technologies Group. The property recently underwent capital improvements to refresh signage, landscaping and exterior paint. Having sold off over 1 million square feet in Tampa-based assets over the past two years, Sunstate Business Park is currently the only property Birtcher Anderson & Davis owns in the Tampa Bay market.

March 2, 2021

8-Federal-Street-Billerica-Massachusetts

Acquisitions Industrial Massachusetts Northeast

Rhino Capital Advisors Buys Flex Portfolio in Metro Boston for $10.4M

by Taylor Williams March 2, 2021

BILLERICA, MASS. — Locally based investment firm Rhino Capital Advisors has purchased a two-building, 170,146-square-foot flex office/research and development portfolio in the northern Boston suburb of Billerica for $10.4 million. The buildings were constructed in 1984 on a 12-acre tract along Middlesex Turnpike (Route 3). Matt Daniels, Brian Tisbert, Christopher Lawrence and Zach Gramlich of JLL represented the undisclosed seller in the transaction. Brett Paulsrud, Amy Lousararian and Madeline Joyce of JLL arranged $16.1 million in financing for the acquisition and redevelopment of the portfolio.

March 2, 2021

Acquisitions Industrial Oregon Self-Storage Western

Buchanan Street Buys 102,450 SF Self-Storage Facility in Portland

by Amy Works March 2, 2021

PORTLAND, ORE. — Newport Beach, California-based Buchanan Street Partners has purchased a newly constructed self-storage facility located at 6191 S.E. Powell Blvd. in Portland. Leon Capital Group sold the property for $22 million in an off-market transaction. The three-story asset, which will be rebranded as a US Storage Centers location, features 102,450 square feet of climate-controlled storage space. Buchanan Street acquired the property, which received its certificate of occupancy in July 2020, during lease-up. Westport Properties will handle property management responsibilities.

March 2, 2021

Acquisitions California Industrial Western

Lee & Associates Brokers $2.5M Sale of Industrial Building in Vista, California

by Amy Works March 2, 2021

VISTA, CALIF. — Lee & Associates has arranged the sale of an industrial property located at 2540 Pioneer Ave. in Vista. The Greenwood Family Trust acquired the asset from D&D Vista LLC for $2.5 million. The 10,940-square-foot building features 35 percent office space with a fenced loading and yard area. Rusty Williams, Chris Roth and Jake Rubendall of Lee & Associates/The Williams Roth Group represented the seller and buyer in the deal.

March 2, 2021

2209 Sulphur Spring Road Industrial Facility

Acquisitions Industrial Maryland Southeast

JLL Secures Acquisition Financing for 313,000 SF Industrial Facility in Baltimore

by Julia Sanders March 1, 2021

BALTIMORE — JLL Capital Markets has secured acquisition financing for a fully leased, 313,000-square-foot infill warehouse at 2209 Sulphur Spring Road in Baltimore near Interstates 95 and 695. Jay Wellschlager, Bruce Strasburg, Craig Childs and Elizabeth Runge of JLL represented the seller, The O’Donnell Group, in the transaction. Paul Spellman of JLL secured acquisition financing on behalf of the new owner, Aminim Group. The property price was not disclosed. Located 7.5 miles from Baltimore/Washington International Thurgood Airport, the property features approximately one acre of fenced storage, heavy power, security, 35 loading docks and the potential for 56 trailer drops. Tenants of the industrial facility include Liberty Tire Recycling and Indusco Wire Rope & Fittings. Since 2013, the property received about $6.5 million of capital improvements, including a new roof, T5 and LED lighting, dock seals, 35,000-pound levers, façade accents and two new bridges. In 2018, the O’Donnell Group reached out to Dave Dannenfelser and Tyler Boykin of JLL to lease the property, which was purchased in December 2017 with a pending full-building vacancy. Within 12 months, the team brought the vacant warehouse to full occupancy with an average lease term of more than seven years. The O’Donnell Group is a …

March 1, 2021

Acquisitions Florida Industrial Southeast

Bruner Group Arranges $17M Sale of Former Sam’s Club in Lake Worth Beach, Florida

by Julia Sanders March 1, 2021

LAKE WORTH BEACH, FLA. — Bruner Group has arranged the sale of a 135,268-square-foot warehouse at 7233 N. Seacrest Blvd. in Lake Worth Beach. Alliance 7233 Seacrest LLC bought the 15.8-acre property, which previously housed a Sam’s Club. In 2019, the seller, 7233 Seacrest Boulevard LLC, originally bought the property for $13 million, and sold the property this year for $17 million. The former Sam’s Club building features 22- to 27-foot clear heights, dock and grade loading, heavy power, 800-plus parking space, natural gas and air conditioning. The property is located off Interstate 95 at Hypoluxo Road in central Palm Beach County. Alliance 7233 Seacrest LLC, an affiliate of Pennsylvania-based Alliance Partners HSP, is an owner and developer of industrial, office and mixed-use real estate. Bruner Group is a commercial real estate agency based in Delray Beach, Fla.

March 1, 2021

Industrial Leasing Activity Texas

Rediform Extends 100,808 SF Industrial Lease Near Fort Worth

by Taylor Williams March 1, 2021

COPPELL, TEXAS — Rediform, a supplier of office products, has extended its 100,808-square-foot industrial lease at 555 Airline Drive in the Fort Worth suburb of Coppell. According to LoopNet Inc., the cross-dock property was built in 1990 and features 24-foot clear heights and 18,646 square feet of office space. Sean Smith, Evan Hammer and Jade Scott of Whitebox Real Estate represented Rediform in the lease negotiations. Rebel Blackwell represented the landlord, Link Industrial Properties, on an internal basis.

March 1, 2021

Industrial Loans Midwest Ohio

NorthMarq Arranges $10.2M Acquisition Loan for Two Industrial Flex Buildings in Mason, Ohio

by Kristin Harlow March 1, 2021

MASON, OHIO — NorthMarq has arranged a $10.2 million loan for the acquisition of two industrial flex buildings at Governor’s Pointe in Mason, about 22 miles north of Cincinnati. The two properties span 154,775 square feet and are located at 4900 Parkway Drive and 4700 Duke Drive. They feature both industrial and office space. Noah Juran of NorthMarq arranged the five-year loan, which features a 25-year amortization schedule and a fixed rate. A regional bank provided the loan.

March 1, 2021

Acquisitions Industrial Washington Western

Terreno Realty Acquires Parmac Industrial Park in Metro Seattle for $33.7M

by Amy Works March 1, 2021

KIRKLAND, WASH. — Terreno Realty has purchased Parmac Industrial Park, located at 10822-10858 117th PL NE in Kirkland. An investment group, which owned the property for more than 30 years, sold the asset for $33.7 million, or $266 per square foot. At the time of escrow, a mix of wholesalers, distributors and sports/recreational tenants fully occupied the 126,721-square-foot property. A seven-acre lot with future expansion potential was included in the transaction. Leroy Lutu of Marcus & Millichap represented the seller and procured the buyer in the deal.

March 1, 2021

Development Industrial Nevada Western

Panattoni Development Breaks Ground on 138,240 SF Building to Complete North Valleys Commerce Center in Reno

by Amy Works March 1, 2021

RENO, NEV. — Panattoni Development has commenced construction of Building J, the 10th and the final building of the North Valleys Commerce Center in Reno. Located at 9575 N. Virginia Road, Building J will add 138,240 square feet of space to the park, which totals nearly 3 million square feet. Current tenants at North Valleys Commerce Center include S&S Activewear, Mary’s Gone Crackers, Mary Kay Corp. and Compass Health. The buildings at the park feature 36-foot clear heights, ESFR sprinkler systems, LED lighting, ample power, standard column spacing, divisibility, quick access to US 395 via the Steade Boulevard and Lemmon Drive interchanges and freeway visibility. CP Logistics NVCC IV LLC owns the center, which Panattoni is developing. Tectonics served as architect and Alston Construction is the builder for the project. Mike Nevis and Shawn Jaenson of Kidder Mathews are handling leasing for the project.

March 1, 2021

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