Industrial

NKF Arranges $30.1M Sale of Industrial Property in Salt Lake City

by Amy Works March 20, 2020

SALT LAKE CITY — Newmark Knight Frank (NKF) has arranged the sale of an industrial property located at 9669 S. Prosperity Road in Salt Lake City. KPFN Properties sold the asset to ARKA Properties Group for $30.1 million. Visible SCM Logistics, a supply chain management company, occupies the single-tenant, 363,996-square-foot facility. The property is located near Mountain View Corridor, a phased transportation infrastructure project that when complete will offer a 35-mile freeway spanning from Interstate 80 in Salt Lake City to State Route 73 in Utah County. Bryce Blanchard, Kyle Roberts and Lucas Burbank of represented the seller and buyer in the deal.

March 20, 2020

Development Industrial Leasing Activity Washington Western

Bertch Capital Secures Tenant for 116,572 SF Industrial Asset Under Construction in Washington

by Amy Works March 20, 2020

SUMNER, WASH. — Bertch Capital Partners has signed CTE Warehousing to occupy Sumner Ridge’s Building A, located at 3400 W. Valley Highway East in Sumner, in a long-term lease agreement. Building A is the second facility at Sumner Ridge, which is home to a 112,100-square-foot industrial property occupied by Automatic Products. The freight management partner will occupy the entire 116,572-square-foot warehouse facility, which is slated for completion at the end of the second quarter. The company plans to relocate from at least one of its existing buildings in the area. Bill Condon and Matt McGregor of Colliers International represented the developer, while Jeff Forsberg of NAI Puget Sound Properties represented CTE Warehousing in the deal.

March 20, 2020

Acquisitions Indiana Industrial Midwest

Sturges Property Group Arranges Sale of 12,000 SF Industrial Building in Fort Wayne, Indiana

by Kristin Harlow March 20, 2020

FORT WAYNE, IND. — Sturges Property Group has arranged the sale of a 12,000-square-foot, single-tenant industrial building located at 6821 Metro Park Drive in Fort Wayne for an undisclosed price. John Caffray of Sturges represented the seller, Duncan Supply Co. Inc., as well as the buyer, Peakway Investment Group LLC. Indianapolis-based Duncan is a heating equipment supplier.

March 20, 2020

Industrial Leasing Activity Texas

NKF Negotiates 67,600 SF Industrial Lease Extension in Metro Dallas

by Taylor Williams March 19, 2020

CARROLLTON, TEXAS — Newmark Knight Frank (NKF) has negotiated a 67,600-square-foot industrial lease extension at Frankford Distribution Center in the northern Dallas suburb of Carrollton. Bob Luttrell of NKF represented the tenant, Corradi USA Inc., a provider of shading structures for outdoor living spaces. Duke Realty represented the landlord, Texas Dugan LP.

March 19, 2020

Acquisitions Industrial Texas

Univar Solutions Sells 24,500 SF Industrial Property in San Antonio

by Taylor Williams March 19, 2020

SAN ANTONIO — Univar Solutions USA Inc., an affiliate of Illinois-based chemical distributor Univar Solutions, has sold a 24,500-square-foot industrial property situated on two acres at 4351 Director Drive in San Antonio. David Ballard of CBRE represented the buyers, private investors Thomas and Barbara Stratil, in the transaction. Rob Burlingame, also with CBRE, represented Univar Solutions USA.

March 19, 2020

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Arranges Sale of 16,390 SF Industrial Asset in Dallas

by Taylor Williams March 19, 2020

DALLAS — Lee & Associates has arranged the sale of a 16,390-square-foot industrial asset located at 4225 Scottsdale Drive in Dallas. Taylor Stell of Lee & Associates represented the seller, Heller Masonry Construction, in the transaction. The City of Dallas purchased the property for an undisclosed price.

March 19, 2020

Acquisitions Industrial Northeast Pennsylvania

Advanced Industrial Acquires 42,683 SF Property in York, Pennsylvania

by Alex Patton March 19, 2020

YORK, PENN. — Advanced Industrial Services Inc. has acquired a 42,683-square-foot industrial property in York, located approximately 25 miles south of Harrisburg. The sales price was $2.3 million. Located at 3250 North Susquehanna Trail, the property was constructed in 1994 and offers convenient access to Interstate 83 and State Route 30. Ted Turnbull and Jason Turnbull of Rock Commercial Real Estate represented the undisclosed seller in the transaction. The team also procured Advanced Industrial as the buyer.

March 19, 2020

Acquisitions Industrial Southeast Tennessee

EverWest Purchases Industrial Building in Nashville for $12M

by Alex Tostado March 19, 2020

NASHVILLE, TENN. — EverWest Real Estate Investors has purchased a 169,855-square-foot industrial building in Nashville for $12 million. The property is situated at 640 Massman Drive, five miles from Nashville International Airport and six miles from downtown Nashville. The building was completed in 2000 and offers 20- to 32-foot clear heights, vehicle parking and a separate parcel for trailer storage. EverWest plans to upgrade the property, including new dock doors, energy-efficient LED lighting, exterior paint and transformation of approximately 5,000 square feet of office space into fully modernized interiors. It will also upgrade the parking and truck court areas with new asphalt. EverWest plans to begin upgrades in the second quarter with an expected completion in the third quarter of this year. Todd Prevost of Avison Young represented the buyer in the deal. An undisclosed private seller sold the asset in an off-market transaction.

March 19, 2020

Acquisitions Georgia Industrial Southeast

JLL Arranges Sale of 120,800 SF Industrial Property in Atlanta

by Alex Tostado March 19, 2020

ATLANTA — JLL has arranged the sale of Piedmont Warehouses, a two-building, 120,800-square-foot industrial property in Atlanta. The property is situated on 5.6 acres at 2091-2241 Faulkner Road, seven miles north of downtown Atlanta, less than a mile from Interstate 85 and Ga. Highway 400, and three miles from I-75. The buildings were renovated in 2018 and feature 34 dock-high doors, 16-foot clear heights, office space and numerous suites with air-conditioned warehouse space. JLL represented the seller, a partnership between Weaver Capital Partners and The Seng Co., in the transaction. Further details of the sale were not disclosed.

March 19, 2020

Acquisitions California Industrial Lee & Associates Self-Storage Western

San Diego Rescue Mission Divests of 38,610 SF Industrial Property in San Diego

by Amy Works March 19, 2020

SAN DIEGO — San Diego Rescue Mission has completed the sale of an industrial facility located at 5150 University Ave. in San Diego. University Storage acquired the asset for $7.7 million. The 2.2-acre lot features a 38,610-square-foot industrial building. The buyer plans to redevelop the property into a self-storage facility. George Hicker and Michael McFarland of Cardinal Industrial, along with Matt Weaver and Al Apuzzo of Lee & Associates – North County San Diego, represented the seller and buyer in the deal.

March 19, 2020

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