Industrial

Embarcadero Capital Partners, PCCP Acquire 472,000 SF Office/R&D Campus in Silicon Valley

by Amy Works July 26, 2019

MILPITAS, CALIF. — Embarcadero Capital Partners and PCCP have purchased Park Point, a recently renamed office/R&D campus located at 115-155 N. McCarty Blvd. in Milpitas. Los Angeles-based Hudson Pacific Properties sold the asset for an undisclosed price. Situated on 30 acres, the campus features three buildings totaling approximately 472,000 square feet. The buyers retained HOK, a global design, architecture, engineering and planning firm, to revitalize the property into a contemporary, creative workplace. Jeff Arrillaga, Shawn Kellenberger and Michael Saign of Newmark Knight Frank’s Silicon Valley offices represented the seller in the transaction.

July 26, 2019

Mira-Loma-Industrial-Center-Jurupa-Valley-CA

Acquisitions California Industrial Western

Davis Partners Sells Mira Loma Industrial Center South in Southern California for $30M

by Amy Works July 26, 2019

JURUPA VALLEY, CALIF. — Davis Partners has completed the sale of Mira Loma Industrial Center South, an industrial park located in the Riverside County city of Jurupa Valley. An undisclosed buyer acquired the 172,898-square-foot asset for nearly $30 million. Part of a master-planned, 269,195-square-foot development by Davis Partners, Mira Loma Industrial Center South consists of five freestanding buildings on De Forest Circle and Nobel Court: Building 7 (31,093 square feet), Building 8 (30,684 square feet), Building 9 (39,722 square feet), Building 10 (33,773 square feet) and Building 11 (37,626 square feet). The property was completed in June and is the only new construction completion in the Jurupa Valley/Eastvale area this year, according to Cushman & Wakefield Research. Milo Lipon, Tal Siglar, Ryan Velasquez and Andrew Starnes of Cushman & Wakefield’s Ontario, Calif., office represented the seller in the deal.

July 26, 2019

Acquisitions Industrial New York Northeast

DH Property Holdings Breaks Ground on Distribution Center in Brooklyn

by Alex Patton July 26, 2019

NEW YORK CITY — Local developer DH Property Holdings (DHPH) has broken ground on an 85,000-square-foot speculative distribution center in the Red Hook section of Brooklyn. The single-story property, located at 55 Bay St., will feature 36-foot clear heights, 54-by-58-foot column spacing, 18 loading docks and two drive-in doors. Construction is expected to be complete in the second quarter of 2020. Rob Kossar and Leslie Lanne of JLL will handle leasing.

July 26, 2019

Acquisitions Industrial New Jersey Northeast

Partnership Sells 529,000 SF Industrial Property in Montville, New Jersey

by Alex Patton July 26, 2019

MONTVILLE, N.J. — A partnership between two New Jersey-based firms, Camber Real Estate Partners and Advance Realty Investors, has sold 19 Chapin Road, a 529,000-square-foot industrial property in Montville, located in the northern part of the Garden State. The four-building property is equipped with a total of 88 loading positions, including 76 dock-high doors, 12 drive-in doors and clear heights ranging from 20 to 22 feet. A variety of industrial and shipping tenants occupy 93.7 percent of the property. Jose Cruz, Marc Duval and Jordan Avanzato of JLL represented the seller in the transaction. A partnership between Cohen Asset Management Inc. and Intercontinental Real Estate Corp. purchased the property for an undisclosed price.

July 26, 2019

Acquisitions Industrial Midwest Ohio Self-Storage

SkyView Advisors Brokers Sale of 280-Unit Self-Storage Facility in Monroe, Ohio

by Kristin Harlow July 26, 2019

MONROE, OHIO — SkyView Advisors has brokered the sale of Monroe Stor & Lock Self Storage in Monroe, about 30 miles north of Cincinnati. The sales price was not disclosed. The 50,050-square-foot self-storage facility consists of 280 non-climate-controlled units and 165 exterior storage spaces. The property is located at 889 Lebanon St. Zack Urow and Ryan Clark of SkyView represented the seller. Merit Hill Capital purchased the asset.

July 26, 2019

Florida Industrial Leasing Activity Southeast

Cushman & Wakefield Negotiates Six Industrial Leases Totaling 132,798 SF in Broward County

by Alex Tostado July 25, 2019

POMPANO BEACH, FLA. — Cushman & Wakefield has negotiated six industrial leases totaling 132,798 square feet at Pompano Center of Commerce II, a warehouse and distribution campus in Broward County. Butters Construction & Development developed the property, the existing buildings of which are now at full occupancy. Tenants represented in the new leasing activity include Milestone Pavers (14,640 square feet), Empire Delivery (26,605 square feet), Larsen’s Manufacturing (17,436 square feet), Farco Plastics (17,381 square feet), Event Effects Group (37,786 square feet) and ATI Electrical Supply (18,950 square feet). Chris Metzger, Richard Etner, Christopher Thomson and Matthew McAllister of Cushman & Wakefield represented the landlord, a joint venture between Butters and an institutional capital partner, in all of the lease negotiations.

July 25, 2019

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 395-Unit Self-Storage Facility in Bellville, Texas

by Taylor Williams July 25, 2019

BELLVILLE, TEXAS — The LeClaire Group, a division of Marcus & Millichap, has arranged the sale of AAA Self Storage, a 395-unit facility in Bellville, located approximately 30 miles northwest of Houston. The property features 219 climate-controlled units and 176 non-climate-controlled units for a total of 65,950 net rentable square feet. The property, which was 91 percent occupied at the time of sale, originally opened in 2005 and has since been expanded. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, an Austin-based partnership, in the transaction. The sale included 1.6 acres for additional expansion.

July 25, 2019

Acquisitions Industrial Midwest Wisconsin

Hillwood Acquires 307,850 SF Industrial Building in Mount Pleasant, Wisconsin

by Kristin Harlow July 25, 2019

MOUNT PLEASANT, WIS. — Hillwood, a Perot company, has acquired a newly constructed industrial building spanning 307,850 square feet in Mount Pleasant, about 30 miles south of Milwaukee. Located at 11905 Meridian Drive, the property features a clear height of 32 feet, rear loading and 140-foot truck courts. The purchase price and seller were not disclosed.

July 25, 2019

Industrial Loans Midwest Missouri

NorthMarq Arranges $3M Acquisition Loan for Manufacturing Facility in St. Louis

by Kristin Harlow July 25, 2019

ST. LOUIS — NorthMarq has arranged a $3 million loan for the acquisition of the Fort Dearborn Co. building in St. Louis. The manufacturing facility spans 87,507 square feet and is located on 5.8 acres at 6880 Heege Road. Fort Dearborn Co. is a label manufacturer for food and household products. Jeffrey Chaney of NorthMarq arranged the 10-year loan, which features a 20-year amortization schedule. A life insurance company provided the loan. White Co. was the borrower.

July 25, 2019

Acquisitions Industrial Northeast Pennsylvania

Realterm Logistics Acquires 311,000 SF Distribution Facility in Harrisburg

by Alex Patton July 25, 2019

HARRISBURG, PA. — Realterm Logistics, a Maryland-based investment firm, has acquired a 311,000-square-foot distribution facility in Harrisburg. Built on 52 acres in 2004, the property features 37-foot clear heights, 99 dock-high doors, six drive-in doors and immediate access to I-76, I-83 and I-81. Brandon Moghimi and Brad Feller of Stan Johnson Co. represented the undisclosed seller in the transaction. The property was fully leased at the time of sale.

July 25, 2019

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