TULSA, OKLA. — Jared Jones, the Argus Self Storage Advisor for Oklahoma, has brokered the sale of South Park Mini Storage, a self-storage facility in Tulsa that spans 29,857 net rentable square feet across roughly 500 units. The original developer sold the property to a private buyer that will implement a value-add program.
PLANO, TEXAS — Lee & Associates has negotiated a 21,255-square-foot industrial lease at 1701 Summit Ave. in Plano. According to LoopNet Inc., the property was built in 1986 and spans 63,706 square feet. Brett Lewis and George Tanghongs of Lee & Associates represented the landlord, Boston-based Cabot Properties, in the lease negotiations. Jimmy Pham of Concept Commercial Realty represented the tenant, AB Moving.
DOVER, N.H. — Index Packaging Inc., a locally based supplier of custom packaging services, has acquired a 45,938-square-foot industrial building in Dover, located near the Maine-New Hampshire border. Chris Healey of CBRE represented Index Packaging in the transaction. The seller was 150 Venture Drive LLC. The sale also included 20 acres for additional expansion.
MIAMI LAKES, FLA. — Terreno Realty Corp. has sold a 192,000-square-foot industrial building in Miami Lakes for $22.2 million. The asset was fully leased to Miami International Freight Services at the time of sale. Terreno Realty acquired the property in December 2010 for $7.8 million. The buyer was not disclosed. Situated on 13.2 acres, the building is located at 14100 NW 60th Ave., 10 miles north of Miami International Airport and 16 miles northwest of the Port of Miami.
EDGERTON, KAN. — Propak Corp. has subleased 156,401 square feet of industrial space from Triumph Structures in Edgerton, which is located in Johnson County and south of Kansas City. The Class A facility is located at 31800 W. 196th St. within Logistics Park Kansas City. Propak is a provider of logistics, transportation and supply chain management solutions. Mark Long, John Hassler and Michael Maloney of Newmark Grubb Zimmer negotiated the sublease. Bob Pielsticker and Joseph Orscheln of CBRE assisted in lease negotiations.
BATTLE CREEK, MICH. — Industrial Partners USA has purchased 55 acres in Battle Creek with plans to develop a 270,000-square-foot speculative industrial building. Battle Creek Unlimited (BCU) sold the land for an undisclosed price. Project plans call for 7,000 square feet of office space, 16 truck docks and 130 car parking spaces. Industrial Partners USA is a joint venture between Clark Logic and Great Lakes Capital. The developers expect to break ground later this summer with completion slated for March 2021. The total investment is estimated at $11 million. BCU is a nonprofit corporation that serves as the business and economic development arm for Battle Creek.
AKRON, OHIO — LSI Industries has relocated from North Canton to a 46,360-square-foot industrial facility in Akron. LSI, a producer of lighting solutions, purchased the property from developer Industrial Commercial Properties (ICP). The facility is located at 5127 Boyer Parkway. Tim Breckner of Colliers International represented LSI in the sale. ICP worked closely with LSI to coordinate a tenant buildout.
CARLSBAD, CALIF. — Badiee Development has completed construction of Carlsbad Innovate, an adaptive flex industrial building located at 2810 Caribou Court in Carlsbad. Situated within Carlsbad Oaks North Business Park, Carlsbad Innovate feature 50,150 square feet of Class A space with energy-efficient lighting and appliances, polished concrete floors, high-image creative office finishes and large-scale open spaces. The building is 70 percent leased, with 15,558 square feet still available. Tenants include Zense, an innovator in diabetic predictive health solutions; an international conglomerate; and The Berg Group, a commercial drywall contractor. The project team included TFW as general contractor and Smith Consulting Architects as architect. Additionally, Ware Malcomb served as interior designer of all the speculative suites in the project.
SANTA FE, N.M. — Dah Commercial has purchased Wagon Self Storage, located at 2 Emblem Road in Santa Fe, for an undisclosed price. The buyer has rebranded the self-storage facility as Mini U Storage. Originally built in 2009 and expanded in 2016, the property features 63,726 rentable square feet. The facility offers 611 climate-controlled units, recreational vehicle spaces and 42 wine storage units. The buyer is a national real estate investment and asset management company that has developed, acquired and/or managed more than $300 million of self-storage facilities. Adam Schlosser of Marcus & Millichap’s Denver office and Charles LeClaire of Marcus & Millichap’s LeClaire Group represented the seller, a local limited liability company, in the deal.
TEMECULA, CALIF. — PSRS has secured a $6.1 million loan for the refinancing of a warehouse facility located along Remington Avenue in Temecula. The newly built, concrete tilt-up property features Class A industrial space. David Hamilton of PSRS’ San Diego office arranged the 10-year, fixed-rate, non-recourse loan for the undisclosed borrower. The lender was a life insurance company.