CAMDEN, N.J. — A partnership between Chicago-based Venture One Real Estate and Kovitz Investment Group has acquired a 17,290-square-foot vacant industrial building in Camden, located outside of Philadelphia in New Jersey. The 9.4-acre property serves as a repair/maintenance facility, offers proximity to Interstate 295 and downtown Philadelphia and features 2,800 square feet of office space and parking for 236 trailers. Jim Scott of Colliers International represented the undisclosed seller in the transaction. Scott Mertz of NAI Mertz represented the buyer and will market the property for lease.
MILWAUKEE — Affiliates of Milwaukee-based Phoenix Investments have acquired a three-property industrial portfolio in Dresden, Church Hill and Kingsport, Tenn., spanning nearly 1.6 million square feet. Church Hill-based Frog Properties LLC sold the portfolio for an undisclosed price. The property located at 2073 Evergreen St. in Dresden features 30 truck doors, 20- to 35-foot clear heights and rail access with a 1,500-foot rail platform. Champion Homes anchors the 611,556-square-foot facility. The property in Church Hill spans 857,056 square feet. The asset is situated at 121 Kingsport Press Road and features a 300-foot rail spur with access to Norfolk Southern Rail. The Kingsport facility is located on six acres at 2497 Sherwood Road. The 130,751-square-foot property features 20-foot clear heights and 8- to 12-inch thick concrete flooring. Quebecor World, a Canadian-based publishing company, used to occupy the properties in Church Hill and Dresden. Michael Reid of Newmark Knight Frank represented both the buyer and seller, Frog Properties, in the transaction. The sales price was not disclosed.
UNION CITY, GA. — Crow Holdings Industrial (CHI) has sold South Fulton Logistics Center, a 234,000-square-foot industrial facility in Union City. CHI delivered the asset in April 2019. The facility features 32-foot clear heights and was 68 percent leased at the time of sale to Greenball Corp., a manufacturer and wholesaler of tires. South Fulton Logistics Center is situated at the intersection of Hunter and Mason roads, six miles west of Hartsfield-Jackson Atlanta International Airport. TA Realty acquired the property for an undisclosed price.
FAIRFIELD, N.J. — The Stro Companies, a New Jersey-based investment firm, has acquired a 78,000-square-foot industrial building in Fairfield, about 25 miles west of New York City. The property was fully leased at the time of sale and features 21-foot ceiling heights, proximity to several interstates and additional land for trailer parking. Robert Nathin of Sheldon Gross Realty represented the undisclosed seller in the transaction.
CHICAGO — Weber-Stephen Products LLC has entered into a sale-leaseback for its 622,000-square-foot manufacturing facility near the Chicago O’Hare International Airport. W.P. Carey Inc. purchased the building for $40 million. Weber-Stephen, a manufacturer of barbecue grills, occupies the facility on a 15-year lease. The property serves as the tenant’s primary North American manufacturing facility. Since 2014, Weber-Stephen has made capital improvements totaling over $28 million at the site.
SAN DIEGO — Padma Laxmi has purchased an 85,824-square-foot industrial facility located at 10054 Old Grove Road in San Diego’s Scripps Ranch community. CapRock Partners sold the asset for an undisclosed price. Constructed in the early 1980s, the property underwent an extensive renovation in 2018 to bring the property to Class A status. The plan included high-quality finishes throughout, a new roof, a redesigned office area, new drought tolerant landscaping and an updated entry way. Situated on 5.5 acres, the property features a secured yard area, heavy power and an above-average clear height. At the time of sale, the facility was fully leased. Bryce Aberg, Jeff Cole, Jeff Chiate, Ed Hernandez, Mike Adey and Zach Harman of Cushman & Wakefield’s National Industrial Investment Advisory Group in Southern California represented the seller in the transaction. Brant Aberg, also of Cushman & Wakefield, provided leasing advisory services for the property.
EXETER, N.H. — New Hampshire-based Monahan Cos. will develop a 116,288-square-foot warehouse within Garrison Glen Corporate Park in Exeter, located east of Manchester. The property will feature 40-foot clear heights and proximity to Interstate 95 and State Route 101. Approvals are in place, and construction is expected to last about nine months. Monahan also recently completed a 110,000-square-foot build-to-suit project for Gourmet Gift Baskets on an adjacent lot. Cushman & Wakefield is marketing the development.
FORT WORTH, TEXAS — AmerCareRoyal, a Pennsylvania-based provider of disposable foodservice and healthcare products, will open a 400,000-square-foot distribution center in Fort Worth. AmerCareRoyal expects to take occupancy of the space, which is located within Speedway Logistics Crossing on the city’s north side, before the end of the year. Indianapolis-based Scannell Properties owns the development.
HOUSTON — Newcor Commercial Real Estate has brokered the sale of a 21,261-square-foot office and warehouse building located at 3367 N. Sam Houston Parkway W. in Houston. The property is situated on 1.3 acres and offers two conference rooms, executive offices, a gym and two kitchen areas. David Alexander of Newcor represented the seller, NOCNIR LLC, in the transaction. Josh Morrow of Avison Young represented the buyer, DLAC Ventures LLC.
BATAVIA, ILL. — Principle Construction Corp. has completed a new 102,140-square-foot warehouse on behalf of developer Midwest Industrial Funds at 1100 N. Raddant Road in Batavia. The project includes 97,040 square feet of warehouse space and 5,100 square feet of office space. The building features 10 dock positions, two drive-in doors, 125 car parking spaces, LED lighting and a clear height of 30 feet. Harris Architects provided design services.