Industrial

Clear Height Properties Purchases 30,000 SF Industrial Building in Bensenville, Illinois

by Kristin Harlow July 14, 2020

BENSENVILLE, ILL. — Clear Height Properties has purchased a 30,000-square-foot industrial building located at 464-480 Country Club Drive in Bensenville for an undisclosed price. Built in 1973, the property was vacant at the time of sale. It has primarily been used for warehouse distribution and light manufacturing purposes. Clear Height plans to make capital improvements such as new landscaping, sidewalks, parking lot, dock staircase and overhead doors. Justin Lerner of Transwestern represented Clear Height in the transaction. Marcus & Millichap represented the seller, Aspen Industries.

July 14, 2020

Acquisitions California Industrial Western

Terreno Realty Purchases Industrial Property in South San Francisco for $6.3M

by Amy Works July 14, 2020

SOUTH SAN FRANCISCO, CALIF. — Terreno Realty has acquired an industrial building located in South San Francisco for $6.3 million. The name of the seller was not released. Located at 179 Starlite St., the 22,000-square-foot property features two dock-high and one grade-level loading positions and parking for 15 cars. At the time of sale, the building was fully leased to one tenant.

July 14, 2020

Acquisitions Industrial Texas

Stream Realty Partners Brokers Sale of 53,586 SF Industrial Building in Arlington

by Taylor Williams July 13, 2020

ARLINGTON, TEXAS — Stream Realty Partners has brokered the sale of a 53,586-square-foot industrial building located at 1200 Gambrel Road in Arlington. The property was originally built in 2005. James Mantzuranis of Stream Realty Partners represented the buyer, Arlington Investment Properties LLC, in the transaction. Sarah LanCarte and David Corle of LanCarte Commercial represented the seller, 109th Street LP.

July 13, 2020

Industrial Leasing Activity Texas

Energy Firm Signs 11,375 SF Industrial Lease in Metro Houston

by Taylor Williams July 13, 2020

TOMBALL, TEXAS — MSP Drilex Inc., a technology and service provider for the oil and gas industry, has signed an 11,375-square-foot industrial lease at 21227 Hufsmith-Kohrville Road in the northern Houston suburb of Tomball. According to LoopNet Inc., the property was built in 2015 on 1.1 acres and includes 2,700 square feet of office space. Mike Spears and Patrick Wolford of Lee & Associates represented the landlord, Epic International, in the lease negotiations. Payton Indermuehle with Keen Realty Group LLC represented the tenant.

July 13, 2020

Acquisitions Arizona Industrial Western

CBRE Secures $22M in Acquisition Financing for Cold Storage Facility in Phoenix

by Amy Works July 13, 2020

PHOENIX — CBRE Capital Markets Debt & Structured Finance has arranged a $22 million loan for the acquisition of a cold storage facility in Phoenix. Bruce Francis, Robert Ybarra, Shaun Moothart, Dana Summers, Doug Birrell and Jim Korinek of CBRE facilitated the loan on behalf of the borrower, a joint venture between Condor Cold Storage and AEW Capital Management. Located at 7000 W. Buckeye Road, the 285,022-square-foot property features 36-foot clear heights and office, warehouse, baking, production and ammonia freezer facilities. Café Valley Bakery, a producer of bakery products for in-store bakeries, club stores, foodservice and convenience stores, fully occupies the property. The asset was built in 2010.

July 13, 2020

Arizona Industrial Loans Western

Gantry Arranges $17M in Acquisition Financing for Industrial Building in Phoenix

by Amy Works July 13, 2020

PHOENIX — Gantry has secured $17 million in acquisition financing for a Class A industrial building located in Phoenix’s Southwest Industrial submarket. The borrower, Kaiser Industrial SPE, is purchasing the asset from an institutional seller for $31 million in an off-market transaction. Developed by Sun State Builders in 2013, the 325,800-square-foot warehouse is located at 7400 W. Buckeye Road. At loan close, the property was fully leased to OnTrac and Vesta Foodservice. OnTrac, a third-party logistic provider, occupies 236,200 square feet, while Vesta Foodservice, a fresh produce and specialty grocery delivery service, occupies the remaining 89,600 square feet. Situated on 18.7 acres, the property features 32-foot clear heights; ESFR sprinklers; evaporative coolers; a gate-secured, 180-foot truck court with concrete truck apron; 70 dock-high doors; and ample car and trailer parking stalls. Tim Storey and Chad Metzger of Gantry’s Phoenix office secured the 10-year, interest-only loan through a correspondent life insurance company. Gantry will service the loan.

July 13, 2020

Industrial Leasing Activity New Jersey Northeast

Terreno Realty Signs E-Commerce Tenant to 211,000 SF Industrial Lease in Kearny, New Jersey

by Taylor Williams July 13, 2020

KEARNY, N.J. — Terreno Realty, a California-based REIT, has signed an undisclosed e-commerce user to a 211,000-square-foot industrial lease at one of its facilities in Kearny, approximately 12 miles west of New York City. The lease term is 10 years. A wholesale drug distributor previously occupied the property. Additional terms of the deal were not disclosed.

July 13, 2020

Development Industrial Midwest Minnesota Self-Storage

Metro Storage to Develop 908-Unit Self-Storage Facility in Coon Rapids, Minnesota

by Kristin Harlow July 13, 2020

COON RAPIDS, MINN. — Metro Storage LLC has purchased a parcel of land at 3021 124th Ave. in Coon Rapids and has started construction on a 908-unit self-storage facility at the site. The climate-controlled facility will span 95,000 rentable square feet. Heated and drive-thru storage options will be available. An office space will showcase security features and provide a selection of moving boxes, packing supplies and locks. Completion is slated for spring 2021. Located along the Mississippi River, Coon Rapids is a northern suburb of Minneapolis. This is the eighth location for Metro Storage in the Minneapolis market.

July 13, 2020

Georgia Industrial Leasing Activity Southeast

Robinson Weeks Signs Two Tenants to Industrial Leases Totaling 184,670 SF at Gillem Logistics Center in Metro Atlanta

by Alex Tostado July 10, 2020

FOREST PARK, GA. — Robinson Weeks Partners has signed two industrial tenants to occupy a total of 184,670 square feet within Building 400 at Gillem Logistics Center in the south Atlanta suburb of Forest Park. Cleveland-based North Coast Logistics will occupy 107,675 square feet beginning in October. Jacob Westfall of CBRE represented North Coast Logistics in its lease transaction. Orlando-based farming company Kalera Inc. will lease 76,995 square feet at the property, which is situated 12 miles south of downtown Atlanta within five miles of Hartsfield-Jackson Atlanta International Airport. Kalera produces non-GMO vegtables and will be able to double its operations, allowing the facility to produce 11 million heads of lettuce per year. Derek Riggleman and Trip Ackerman of Lee & Associates represented Kalera in its transaction. John Gaskin internally represented Robinson Weeks Partners in both negotiations.

July 10, 2020

Development Illinois Industrial Midwest

Principle Construction Completes 879,040 SF Spec Warehouse in Monee, Illinois

by Kristin Harlow July 10, 2020

MONEE, ILL. — Principle Construction Corp. has completed an 879,040-square-foot speculative warehouse in Monee, about 35 miles south of Chicago. Principle completed the project in a joint venture with Location Finders International and DeBartolo Development. The building sits on 61 acres within the larger Bailly Ridge development. The facility features a clear height of 36 feet, 100 dock positions, 191 trailer stalls, 161 auto parking stalls and four drive-in doors. Harris Architects designed the project. Traci Payette and Stephanie Park of CBRE are the leasing agents.

July 10, 2020

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