Industrial

Stos Partners Sells Industrial Asset in Southern California for $10.4M

by Amy Works June 5, 2020

TEMECULA, CALIF. — Stos Partners has completed the sale of an industrial property located at 28410 Vincent Moraga Drive in Temecula. An Orange County, Calif.-based private investor acquired the asset for $10.4 million in an off-market transaction. Tenants at the 65,300-square-foot facility include Habitat for Humanity and a publicly traded international consumer goods and farm products company. Stos Partners initially purchased the building in April 2019 for $7.1 million and immediately implemented a repositioning and improvements program. Rob Gunnes, Anthony DeLorenzo and Matt Pourcho of CBRE represented the seller, while Tucker Hohenstein and Mike Erwin of Colliers International represented the buyer in the deal.

June 5, 2020

Industrial Loans New Jersey Northeast

JLL Arranges $10.1M Acquisition Loan for Industrial Property in West Deptford, New Jersey

by Alex Patton June 5, 2020

WEST DEPTFORD, N.J. — JLL has arranged a $10.1 million acquisition loan for a 183,000-square-foot industrial property in West Deptford, a southern suburb of Philadelphia. Wells Fargo Bank provided the five-year, floating-rate loan to the borrower, New York-based developer Clarion Partners. Located at 100 Friars Blvd., the industrial warehouse and distribution facility is located within the Mid-Atlantic Corporate Center and features a clear height of 24 feet, 19 loading doors and one drive-in door. The property is the headquarters of ICS Corp. and offers convenient access to the New Jersey Turnpike and Interstate 295. Jim Cadranell and Max Custer of JLL originated the loan.

June 5, 2020

Industrial Loans Massachusetts Northeast

M&T Bank Provides $8.3 Million Loan for Refinancing of Industrial Property in Metro Boston

by Alex Patton June 5, 2020

MALDEN, MASS. — M&T Bank has provided an $8.3 million loan for the refinancing of an industrial property in Malden, a northern suburb of Boston. A partnership between Oliver Street Capital and Bain Capital Real Estate was the borrower. Located at 129 Commercial St., the 54,000-square-foot property features a clear height of 12 feet, four loading docks and one drive-in door. National Grid currently leases the property. David Douvadjian, Timothy O’Donnell and Brian Butler of Newmark Knight Frank placed the loan.

June 5, 2020

Connecticut Industrial Leasing Activity Northeast

Bio-Med Devices Signs 6,500 SF Industrial Lease in Guilford, Connecticut

by Alex Patton June 5, 2020

GUILFORD, CONN. — Medical engineering service Bio-Med Devices has signed a 6,500-square-foot industrial lease in Guilford, an eastern suburb of New Haven. Located at 1 Shoreline Drive, the 72,000-square-foot building features a clear height of 24 feet and was constructed in 2000. The property offers convenient access to State Route 1 and the Connecticut Turnpike, and Bio-Med’s headquarters and primary manufacturing facility is within two blocks of the facility. Bio-Med Devices manufactures personal protective equipment (PPE), including ventilators. Bill Clark, also of The Geenty Group, represented the landlord, Russo Real Estate LLC.

June 5, 2020

Acquisitions Georgia Industrial Southeast

JLL Arranges $19.6M Sale of Distribution Facility Near Port of Savannah

by Alex Tostado June 5, 2020

PORT WENTWORTH, GA. — JLL has arranged the $19.6 million sale of a 281,467-square-foot distribution center in Port Wentworth. The property is situated at 110 Little Hearst Parkway, within Savannah River International Trade Park and six miles from the Port of Savannah. The asset was delivered in 2019. Patrick Nally, Trent Agnew, Matt Wirth, Britton Burdette, Dennis Mitchell and Pete Pittroff of JLL represented the buyer, Exeter Property Group, in the transaction. The seller was not disclosed.

June 5, 2020

Acquisitions Illinois Industrial Midwest

JLL Brokers Sale of 712,051 SF Cold Storage Portfolio in Metro Chicago

by Kristin Harlow June 5, 2020

CHICAGO, LYONS AND BARTLETT, ILL. — JLL Capital Markets has brokered the sale of a three-property cold storage portfolio totaling 712,051 square feet in metro Chicago for an undisclosed price. The facilities are located in Chicago, Lyons and Bartlett. They are fully leased to 11 tenants. John Huguenard, Ed Halaburt, Sean Devaney, Kurt Sarbaugh and Robin Stolberg of JLL represented the seller, Investcorp. Lineage Logistics, which is controlled and operated by Bay Grove, purchased the assets.

June 5, 2020

Illinois Industrial Leasing Activity Midwest

MidAmerica Printing Systems Signs 30,550 SF Industrial Lease in Schiller Park, Illinois

by Kristin Harlow June 5, 2020

SCHILLER PARK, ILL. — MidAmerica Printing Systems Inc. has signed a 30,550-square-foot industrial lease at 3838 River Road in Schiller Park near the Chicago O’Hare International Airport. The facility totals 65,082 square feet and sits on 3.5 acres. It features four interior docks, three drive-in doors and 30 trailer stalls. The printing company will move from 1716 W. Grand Ave. in Chicago once the lease commences in July. Tom Rodeno and Matthew Stauber of Colliers International represented the landlord, Brennan Investment Group. The remainder of the building is available for lease.

June 5, 2020

Acquisitions Industrial Maryland Southeast

Stewart Properties Sells 550,050 SF Cold Storage Facility Near Baltimore

by Alex Tostado June 4, 2020

NORTH EAST, MD. — Stewart Properties has sold Principio Commerce Center II, a 550,050-square-foot cold storage facility in North East. The asset is fully leased to KeHE Distributors LLC. Stewart Properties delivered the property in February. The building features 36-foot clear heights; LED lighting; wide column spacing; loading positions including 43 dry, 14 cold and 36 additional punch-outs; four drive-in doors; and significant freezer and cooler buildouts. Principio Commerce Center is located at 585 Principio Parkway W., 47 miles northeast of downtown Baltimore and the Port of Baltimore. Bruce Strasburg, Dave Dannenfelser, Jay Wellschlager, Tyler Boykin and Craig Childs of JLL represented the seller in the transaction. CBRE Global Investors acquired the asset for an undisclosed price.

June 4, 2020

Arizona Development Industrial Western

Hines, Oaktree Select Graycor to Build First Phase of 1.2 MSF Industrial Project in Glendale, Arizona

by Amy Works June 4, 2020

GLENDALE, ARIZ. — Hines, along with funds managed by Oaktree Capital Management, has selected Graycor Construction’s Southwest Division as general contractor for Phase I of Glendale 303 (G303), a Class A industrial development along the Loop 303 corridor in Glendale. The industrial park will be constructed in two phases, with two buildings each totaling 569,520 square feet. To accommodate needs of a major tenant, G303 will offer the flexibility to convert into a single, 1.2 million-square-foot building. Graycor will manage grading for the full project site and build G303’s first 569,520-square-foot building. Construction is slated to begin in July, with completion scheduled for first-quarter 2021. Ware Malcomb is serving as architect for G303. Bill Honsaker and John Lydon of JLL are serving as leasing brokers for the project.

June 4, 2020

Development Industrial Midwest Wisconsin

HSA Commercial Real Estate Breaks Ground on 1 MSF Industrial Park in Bristol, Wisconsin

by Kristin Harlow June 4, 2020

BRISTOL, WIS. — HSA Commercial Real Estate, in partnership with Washington Capital Management, has broken ground on the first phase of the 68-acre Bristol Highlands Commerce Center in Bristol near I-94 and the Wisconsin-Illinois border. The first two speculative buildings are slated for completion in the fourth quarter. One is a 157,656-square-foot warehouse with 31 truck docks, and the other is a 472,216-square-foot distribution center with 72 truck docks. Jeff Hoffman and Chad Vande Zande of Cushman & Wakefield | Boerke, along with Eric Fischer of Cushman & Wakefield in Chicago, are marketing the facilities for lease. Premier Design + Build Group is the general contractor, Partners in Design Architects is the architect and Pinnacle Engineering is the civil engineer.

June 4, 2020

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