PENNSAUKEN, N.J. — Binswanger Commercial Real Estate Services has negotiated a 103,275-square-foot industrial lease expansion at Pennsauken Logistics Center, located outside of Philadelphia in Southern New Jersey. The tenant, e-commerce firm Utopia Fulfillment, originally took occupancy of a 120,000-square-foot space two months ago for fulfillment of orders for its home goods products. Mike Torsiello and Chris Pennington of Binswanger represented the landlord, Philadelphia-based Velocity Ventures, in the lease negotiations. Pennsauken Logistics Center features proximity to Interstate 95 and 295, as well as 20- to 35-foot clear heights and three acres of dedicated trailer storage space that equates to 200 to 250 parking stalls.
AUBURN, WASH. — Harsch Investment Properties has purchased 30th & B Street Business Park in Auburn for $14.7 million. A partnership between Accord Business Park, D&E Enterprises, Green Valley Ridge Partners and LLC & TDW Auburn previously owned the property. Jim Honan of Neil Walter Co. presented the off-market deal to Harsch. The four-building property features 101,460 square feet of rentable space. At the time of acquisition, the property was fully leased to 19 manufacturing tenants in spaces between 1,500 square feet to 18,000 square feet.
FORT COLLINS, COLO. — Fort Collins-based DAKA Properties has completed the sale of a flex/industrial property located at 825 SW Frontage Road in Fort Collins. Front825 acquired the asset for $4.7 million. Situated on 2.7 acres, the 30,012-square-foot property features large product showrooms, warehouse space and light manufacturing space. The property has been remodeled multiple times since originally developed, including 1989, 2004 and 2012. Jared Goodman of Cushman & Wakefield represented the seller, while Jason Ells of Cushman & Wakefield represented the buyer in the deal.
FORT WORTH, TEXAS — Holt Lunsford Commercial has negotiated a 190,000-square-foot industrial lease at 2601 Sylvania Cross Drive in Fort Worth. According to LoopNet Inc., the property was built in 2003. Thomas Grafton and Matt Carthey of Holt Lunsford Commercial represented the tenant, packaging firm Global Co Pak LLC, in the lease negotiations. Andrew Ward with Mercantile Partners represented the landlord.
IRVING AND ALLEN, TEXAS — Marcus & Millichap has arranged the sale of the Royal Cornerstone Portfolio, which consists of two buildings in the DFW metroplex totaling 176,645 square feet. One of the properties is located in Irving, and the other is located in the northeastern suburb of Allen. The subject properties are situated on a combined 11.3 acres and were built in 1997 and 2000. Adam Abushagur and Sam Martin of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were private investors that requested anonymity.
FORT WORTH, TEXAS — Lee & Associates has brokered the $8.1 million sale of a 92,450-square-foot industrial building in Fort Worth that is leased to FedEx. The property was constructed on 10.4 acres in 1998 as a build-to-suit, and FedEx has occupied the entirety of the building since that time. Ryan Barr and Ryan Bennett of Lee & Associates represented the locally based seller in the transaction. Cushman & Wakefield represented the buyer, California-based MH Sherman Co., which acquired the asset via a 1031 exchange.
MIAMI — Newmark has brokered the $44 million sale of a 312,000-square-foot industrial facility located within Dolphin Commerce Park in Miami. Tech Data Corp. sold the property to Badia Spices, a local manufacturer and distributor of spices and herbs that will eventually move into the building. Built in 2002, the property at 2200 NW 112th Ave. is situated in Miami’s Sweetwater neighborhood near Dolphin Mall, the Florida Turnpike and Dolphin Expressway. Steve Medwin and Nick Wigoda of Newmark represented Badia Spices in the transaction.
STOCKBRIDGE, GA. — Foundry Commercial has arranged a 91,297-square-foot, 10-year lease for International Freight Forwarders (IFF) in Stockbridge, about 25 miles south of Atlanta. Atlanta-based IFF plans to occupy the space at Eagles Landing Trade Center II in the first quarter of 2021. The 400,000-square-foot building features 30-foot clear heights. Jordan Camp and Reid Hanner of Foundry represented the tenant in the lease negotiations. The landlord was an unnamed pension fund investor. IFF offers monthly storage, inventory management, quality control, packaging and crating, live loading and unloading of containers, stripping and loading of floor-loaded containers and multiple party routing of inbound consolidations for several industries.
FARGO, N.D. — Amazon.com Inc. has unveiled plans to open its first fulfillment center in the state of North Dakota in Fargo. Amazon expects to break ground next year and create 500 full-time jobs upon completion of the 1 million-square-foot facility. Employees will pack and ship large customer purchases such as sports equipment, patio furniture, fishing rods, pet food, kayaks, bicycles and other household goods. Ryan Cos. will develop the facility. Since 2010, Amazon has invested more than $239 million in North Dakota, including infrastructure and compensation to employees in the state.
WENTZVILLE, MO. — Cambridge Air Solutions has signed a 68,605-square-foot industrial lease at 1290 Interstate Drive in Wentzville within metro St. Louis. Houston-based SparrowHawk LLC owns the 420,000-square-foot building in a joint venture with American National Insurance Co. Cambridge is a manufacturer and distributor of HVAC systems. This is the second location in the St. Louis area for Cambridge. Its headquarters is located at 760 Long Road Crossing Drive in Chesterfield. Christopher Schmidt of JLL represented Cambridge in the new lease. David Branding and Patrick Reilly of JLL represented ownership. Domash Designsource is the architect for Cambridge’s new space. G.S.&S. Construction will complete the buildout.