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Industrial

Muncy-Pennsylvania-Distribution-Centers
AcquisitionsIndustrialNAINortheastPennsylvania

NAI Mertz Brokers Sale of Two Industrial Buildings Totaling 425,800 SF in Muncy, Pennsylvania

by Taylor Williams

MUNCY, PA. — NAI Mertz has brokered the sale of two industrial buildings totaling 425,800 square feet that front Interstate 80 in the central Pennsylvania city of Muncy. The Class A distribution centers total 235,000 and 190,800 square feet and are leased to e-commerce users. Howard Fertman, Chris Matus, Steve Cole and Dave Weaver of NAI Mertz represented the seller, S. Balolia Holdings LLC, in the transaction. EuroOptic LLC, an e-commerce provider of firearms, purchased the larger of the two buildings, and Patton Warehousing purchased the smaller one.

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IndustrialLeasing ActivityNew JerseyNortheast

Logistics Firm Signs 124,000 SF Industrial Lease Renewal, Expansion in Randolph, New Jersey

by Taylor Williams

RANDOLPH, N.J. — Third-party logistics firm Armstrong Relocation Co. has signed a 124,000-square-foot industrial lease renewal and expansion in Randolph, about 40 miles west of New York City. The company renewed its 84,000-square-foot lease at 9 Aspen Drive and also committed to an additional 40,000 square feet at the adjacent building. The company’s new space at 5 Aspen Drive features 46-foot clear heights, 12 loading docks and ample trailer parking space. Brian Wilson of Resource Realty represented Armstrong and the landlord, North Jersey Development, in the lease negotiations.

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IndustrialLeasing ActivityNew JerseyNortheast

Sheldon Gross Realty Negotiates 71,922 SF Industrial Lease in Freehold, New Jersey

by Taylor Williams

FREEHOLD, N.J. — Sheldon Gross Realty has negotiated a 71,922-square-foot industrial lease at 225 Willow Brook Road in Freehold, about 30 miles east of Trenton. The property was built in 1961 and totals 180,000 square feet, according to LoopNet Inc. Glenn Jaffe of Sheldon Gross represented the tenant, EUS Imports, a locally based luggage and travel accessory dealer, in the lease negotiations. Douglas Sitar and Robert JanTausch of Sitar Realty Co. represented the undisclosed landlord.

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AcquisitionsIndustrialSelf-StorageTexas

Colliers Negotiates Sale of 207-Unit Self-Storage Facility in Metro Austin

by Taylor Williams

PFLUGERVILLE, TEXAS — Colliers has negotiated the sale of Private Warehouse Mini Storage, a 207-unit facility located in the northern Austin suburb of Pflugerville. Built in 1995 and expanded in 1997 and 2002, the property now spans 24,000 net rentable square feet. Kyle Newswanger of Colliers represented the seller in the transaction. The buyer was an out-of-state investor. Both parties requested anonymity.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 179-Unit Self-Storage Facility in Houston

by Taylor Williams

HOUSTON — Marcus & Millichap has brokered the sale of Sierra Ranch Storage, a 179-unit self-storage facility in Houston. The property was built in 2017 and spans 15,050 square feet of net rentable, climate-controlled space. Dave Knobler and Casey Kral of Marcus & Millichap represented the seller, a private investor, in the transaction. The duo also procured the buyer, a limited liability company. Both parties requested anonymity.

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AcquisitionsArizonaDevelopmentIndustrialTop StoriesWestern

Merit Partners-Led JV Buys 611 Acres in Metro Phoenix to Develop $1.5B Industrial Park

by John Nelson

GLENDALE, ARIZ. — Merit Partners is leading a joint venture to develop Camelback 303, a $1.5 billion industrial park in the northwest Phoenix suburb of Glendale. The Phoenix-based firm recently closed on the acquisition of 611 acres along the Loop 303 corridor for the project, which will total 9 million to 10 million square feet of logistics and manufacturing space upon completion. Merit’s joint venture partners include industrial REIT First Industrial Realty Trust Inc. (NYSE: FR) and equity partner Diamond Realty Investments, which is the real estate investment arm of Mitsubishi Corp. According to second-quarter 2020 research from JLL, industrial asking rents in metro Phoenix are up 1.8 percent and absorption has increased 39 percent from this time last year. The second quarter marks the 28th straight quarter of positive absorption for the market. “We are extremely excited to be building at this location and at a point in the cycle where demand for Class A industrial is exponential — and expected to continue to rise in the years ahead,” says Kevin Czerwinski, president of Merit Partners. Camelback 303 will sit along the west side of Loop 303 and feature freeway frontage between the Camelback Road and Bethany Home Road …

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DevelopmentIndustrialTexas

NorthPoint Development to Build 859,000 SF Industrial Project in Metro Austin

by Taylor Williams

KYLE, TEXAS — Kansas City-based NorthPoint Development will build Plum Creek Industrial Center, an 859,000-square-foot project that will be located on a 74-acre site in Kyle, a southern suburb of Austin. The Class A development will consist of four buildings that will be developed in two phases. Phase I will consist of two buildings totaling 440,000 square feet. Colliers International will handle leasing of the project, which will be NorthPoint’s first in the Austin area.

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DevelopmentIndustrialOfficeTexas

Fisher59 Opens 205,000 SF Corporate Headquarters, Distribution Center in Denton

by Taylor Williams

DENTON, TEXAS — Fisher59, a distributor of alcoholic beverages, has opened a 205,000-square-foot corporate headquarters and distribution center in the North Texas city of Denton. The building features a two-story, 21,500-square-foot office space with concrete floors, an exposed structure and digital-printed, beer-themed accent walls. St. Louis-based HDA Architects designed the project, construction of which began in late 2018.

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IndustrialLeasing ActivityTexas

Holt Lunsford Negotiates 19,402 SF Industrial Lease in Dallas

by Taylor Williams

DALLAS — Holt Lunsford Commercial has negotiated a 19,402-square-foot industrial lease at 5440-5450 Redbird Drive in Dallas. According to LoopNet Inc., the property was built in 1987 and totals 36,102 square feet. Andrew Gilbert, John Gorman and Canon Shoults of Holt Lunsford represented the landlord, Sealy Capital Management, in the lease negotiations. Thomas Clark of Thomas Clark Investments represented the tenant, medical equipment manufacturer DLK Medical Technologies.

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24903-Ave-Kearny-Santa-Clarita-CA
AcquisitionsCaliforniaIndustrialWestern

Realty Advisory Group Brokers Sale of 214,436 SF Distribution Facility in Southern California

by Amy Works

SANTA CLARITA, CALIF. — Realty Advisory Group has negotiated the sale of an industrial and distribution building located at 24903 Avenue Kearny within Valencia Industrial Center in Santa Clarita. Los Angeles-based Dedeaux Properties acquired the facility from AmerisourceBergen Corp. for an undisclosed price. The seller has owned and operated the property as a pharmaceutical warehouse/distribution center since 1988. Dedeaux Properties plans to reposition the 214,436-square-foot facility and place it on the market for lease. Jim Abbott of Realty Advisory Group handled the transaction.

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