Industrial

Endurance, PCCP Acquire Industrial Portfolio in Southern New Jersey for $43M

by Alex Patton May 4, 2020

DELRAN, MOUNT LAUREL AND SWEDESBORO, N.J. — A partnership between Pennsylvania-based developer Endurance Real Estate Group LLC and New York-based investor Pacific Coast Capital Partners LLC (PCCP) has acquired the Southern New Jersey Core Infill Portfolio for $43 million. The 553,548-square-foot industrial portfolio is located in the southeastern suburbs of metro Philadelphia, and includes seven properties located in Delran, Mount Laurel and Swedesboro. These assets were 88.7 percent leased at the time of sale to warehouse and distribution tenants such as Food Sciences Inc., Carnegie Pharmaceuticals LLC and The Jewelry Group Inc. Michael Hines, Brad Ruppel, Brian Fiumara and Lauren Dawicki of CBRE represented the seller, Foxfield Industrial, a joint venture of Novaya Real Estate Ventures and Foxfield Ventures, in the transaction.

May 4, 2020

Acquisitions Industrial New Jersey Northeast

JLL Brokers $11.2M Sale of Industrial Building in West Hartford, Connecticut

by Alex Patton May 4, 2020

WEST HARTFORD, N.J. — JLL has arranged the $11.2 million sale of a 111,507-square-foot industrial building in West Hartford. Located at 141 South St., the light industrial warehouse was completed in 1990 and features 22-foot clear heights, 16 loading docks, 10 drive-in doors and a 20 percent office finish. At the time of sale, the property was fully leased to nine tenants. Jordan Avanzato and Marc Duval led a JLL team that represented the seller, LM Real Estate Partners, in the transaction. A private investor purchased the asset.

May 4, 2020

Industrial Leasing Activity Texas

CBRE Negotiates 66,468 SF Industrial Lease for Logistics Firm in San Antonio

by Taylor Williams May 4, 2020

SAN ANTONIO, TEXAS — CBRE has negotiated a 66,468-square-foot industrial lease for locally based logistics firm Fiesta Warehousing & Distribution Co. in San Antonio. Josh Aguilar of CBRE represented the tenant, which is expanding into a larger space at 5050 Stout Drive, in the lease negotiations. Rob Burlingame, also with CBRE, represented the landlord, Prologis.

May 4, 2020

Acquisitions Industrial Texas

Marcus & Millichap Brokers Sale of 16,360 SF Industrial Building Near Fort Worth

by Taylor Williams May 4, 2020

HALTOM CITY, TEXAS — Marcus & Millichap has brokered the sale of a 16,360-square-foot industrial building located at 2337 Minnis Drive in Haltom City, located northeast of downtown Fort Worth. Adam Abushagur and Cliff Zimmerman of Marcus & Millichap represented the seller, a private investor, and procured a limited liability company as the buyer. Both parties requested anonymity.

May 4, 2020

Acquisitions California Industrial Lee & Associates Western

Stos Partners Buys 228,912 SF Coronavirus Test Distribution Site in Temecula, California

by Amy Works May 4, 2020

TEMECULA, CALIF. — San Diego-based Stos Partners has purchased an industrial asset located at 42301 Zevo Drive in Temecula. A private investor sold the facility for $28.9 million in an off-market transaction. Currently, a global, publicly traded healthcare company occupies the entire 228,912-square-foot property. The tenant plans to utilize the facility as part of its distribution network for COVID-19 tests. Scott Stewart of Lee & Associates represented Stos Partners, while Alisa Lovas of Lee & Associates represented the seller in the deal.

May 4, 2020

Development Industrial South Carolina Southeast

Tindall to Develop $27.9M Industrial Facility in Upstate South Carolina

by Alex Tostado May 1, 2020

SPARTANBURG, S.C. — Tindall Corp. has acquired 41 acres in Spartanburg to develop its $27.9 million utility division manufacturing facility. The locally based company, which provides concrete solutions for the industrial sector across the country, will use the new site to expand its operations and create 20 jobs. The new site is situated at 2877 Fairforest Clevedale Road, less than two miles from Tindall’s existing headquarters. Tindall expects the utility division to open in early 2021. The South Carolina Coordinating Council for Economic Development has awarded Spartanburg County a $100,000 Set-Aside grant for costs related to the project. John Montgomery, Garrett Scott and Brockton Hall of Colliers International represented the seller, a private family fund, in the land transaction. Bobby Lyons of Lyons Industrial Properties represented the buyer.

May 1, 2020

Industrial Leasing Activity Texas

Elite Mattress Inks 40,485 SF Industrial Lease Renewal in East Dallas

by Taylor Williams May 1, 2020

DALLAS — Elite Mattress LLC has inked a 40,485-square-foot industrial lease renewal at 5200 E. Grand Ave., located in eastern Dallas. Canon Shoults and Josh Barnes of Holt Lunsford Commercial represented the landlord, Holt Lunsford Commercial Investments, in the lease negotiations. The representative of the tenant was not disclosed.

May 1, 2020

Acquisitions Industrial Northeast Pennsylvania

Velocity Ventures Acquires 51,181 SF Industrial Building in Bensalem, Pennsylvania

by Alex Patton May 1, 2020

BENSALEM, PA. — Velocity Ventures, a Philadelphia-based firm, has acquired a 51,181-square-foot industrial building in Bensalem, a southwestern suburb of Trenton. The sales price was $2.4 million. Located at 1296 Adams Road, the property features a roughly 18-foot clear height and offers quick access to Interstates 276 and 95. The building was approximately 80 percent leased at the time of sale. Jason Ostach and Chris Pennington of Binswanger Commercial Real Estate Services represented Velocity Ventures in the transaction. DM Ventures LLC was the seller.

May 1, 2020

Acquisitions California Industrial Western

Dermody Properties Buys 121,836 SF Logistics Center in Southern California

by Amy Works May 1, 2020

ONTARIO, CALIF. — Dermody Properties has purchased a logistics center located at 3120 E. Mission Blvd. in Ontario for an undisclosed price. The name of the seller was not released. Dermody Properties plans to renovate the 121,836-square-foot property by enhancing the loading, upgrading the fire suppression system to ESFR and improving the aesthetic of both the interior and exterior of the building. The facility will be available for lease beginning July 1. The asset is located within a few miles of major freeways, including Interstates 10 and 15 and State Route 60. Additionally, the facility is 2.2 miles from the Ontario International Airport and approximately 60 miles from the ports of Los Angeles and Long Beach, Calif. Dan de la Paz of CBRE represented Dermody Properties in the acquisition.

May 1, 2020

Industrial Leasing Activity Texas

CBRE Negotiates 152,274 SF Industrial Lease Renewal in Metro Dallas

by Taylor Williams April 30, 2020

COPPELL, TEXAS — CBRE has negotiated a 152,274-square-foot industrial lease renewal at 200 Northpoint Drive in Coppell, located near DFW International Airport. According to LoopNet Inc., the property was built in 2006 and totals 549,848 square feet. Brian Gilchrist and Tim Vogds of CBRE represented the tenant, HVAC manufacturing firm Hart & Cooley, in the lease negotiations. The name and representative of the landlord were not disclosed.

April 30, 2020

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