Industrial

Occidental Capital Holdings Buys Office, Retail, Self-Storage Asset in Arizona for $8.2M

by Amy Works February 3, 2020

VAIL, ARIZ. — Occidental Capital Holdings has acquired Old Vail Station Office and Retail Center and Vail Self Storage, a mixed-use commercial property located in Vail, a suburb of Tucson. Old Vail Station LLC sold the asset for $8.2 million. The transaction includes the 26,563-square-foot Old Vail Station, which was developed in 2006, and the 46,005-square-foot Vail Self Storage, which was developed in 2016. At the time of sale, the office and retail center was 94 percent occupied and the self-storage facility was 90 percent occupied. Craig Finfrock of Commercial Retail Advisors represented the seller, while the buyer was self-represented in the deal.

February 3, 2020

Acquisitions California Industrial Western

CBRE Arranges Sale of 90,060 SF Production, Distribution, Repair Building in San Francisco

by Amy Works February 3, 2020

SAN FRANCISCO — CBRE has arranged the sale of 200 Kansas Street, a production, distribution and repair facility located in San Francisco. An entity sponsored by Ascent Real Estate Advisors sold the property to a joint venture between Presidio Bay Ventures and Kinship Capital for an undisclosed price. The two-story, 90,060-square-foot building was fully leased to four tenants at the time of sale. Mike Taquino, Kyle Kovac, Russell Ingrum, Mandy Lee and Giancarlo Sangiacomo of CBRE represented the seller in the deal. Additionally, Mike Walker, Brad Zampa, Megan Woodring and Taylor Shepard of CBRE Capital Markets’ Debt & Structured Finance group arranged a five-year, non-recourse loan with full-term interest-only payments for the buyer. A Los Angeles-based asset management company provided the financing.

February 3, 2020

Industrial Leasing Activity Oklahoma Texas

CBRE Negotiates 80,246 SF Industrial Lease Renewal in Oklahoma City

by Taylor Williams February 3, 2020

OKLAHOMA CITY — CBRE has negotiated an 80,246-square-foot industrial lease renewal at 5001 SW 36th St. in Oklahoma City. According to LoopNet Inc., the property was built in 1982, spans 125,000 square feet and is located near Interstate 44 and Will Rogers International Airport. David Portman of CBRE represented the landlord, Sealy OKC Metropolitan I LLC, in the lease negotiations. The representative of the tenant, Biagi Warehousing Inc., a full-service logistics and transportation firm, was not disclosed.

February 3, 2020

Connecticut Industrial Loans Northeast

Winstanley Enterprises Acquires Industrial Portfolio in South Windsor, Connecticut, for $44M

by Alex Patton February 3, 2020

SOUTH WINDSOR, CONN. — Winstanley Enterprises LLC, a Massachusetts-based development and investment firm, has acquired a two-property industrial portfolio totaling 460,000-square-foot in South Windsor, a northeastern suburb of Hartford. The sales price was $44 million. The first property, located at 135 Sullivan Ave., is a 292,000-square-foot dry goods distribution center leased to Mobis Parts of America. The second property, located at 175 Sullivan Ave., is a 168,00-square-foot cold storage distribution center leased to Performance Food Group Inc. Both tenants will continue their leases with Winstanley as the new landlord. Brad Ruppel and Lauren Dawickiof of CBRE represented Winstanley in the transaction. The seller was undisclosed.

February 3, 2020

Acquisitions Industrial North Carolina Office Southeast Top Stories

Highwoods Sells Greensboro Industrial, Office Assets for $233.4M in Market Exit Initiative

by Alex Patton January 31, 2020

GREENSBORO, N.C. — Highwoods Properties Inc. (NYSE: HIW), a publicly traded REIT based in Raleigh, has sold its industrial and single-story flex portfolio in Greensboro, comprising 2.8 million square feet, for $193.4 million. The company also plans to close the $40 million sale of The Knollwood, a 250,000-square-foot office complex in Greensboro, by Feb. 15. The sale follows Highwoods’ recent announcement of its initiative to exit both the Greensboro and Memphis, Tennessee, markets. That plan led to the recent $76.4 million sale of the 248,000-square-foot International Paper IV office building in Memphis. “These sales are a significant step to completing the first phase of our plan to exit the Greensboro and Memphis markets and reinvest that capital in … high-growth markets such as Charlotte,” says Ted Klinck, president and CEO of Highwoods Properties. “With these dispositions, we will have completed approximately 75 percent of the first phase of sales, and we remain on track to complete the first phase by mid-2020.” Highwoods’ two-phased exit plan consists of selling a select portfolio of its Greensboro and Memphis assets and acquiring Bank of America Tower at Legacy Union in Charlotte in November for $436 million. The second phase consists of selling all remaining …

January 31, 2020

Development Industrial Texas

Reports: Pflugerville City Council Approves Rezoning Ordinance for Amazon Distribution Center

by Taylor Williams January 31, 2020

PFLUGERVILLE, TEXAS — The City Council of Pflugerville on Tuesday approved a rezoning ordinance for a 94-acre tract that will house a 3.8-million-square-foot Amazon distribution center, according to multiple news outlets. The City of Pflugerville, located northeast of Austin, has not confirmed Amazon’s involvement, referring to the project as “Project Charm” in City Council documents, but both the Austin Business Journal and the Austin-American Statesman have named Amazon as the facility’s end-user. Amazon also operates an 850,000-square-foot distribution in San Marcos, located midway between the state capital and San Antonio.

January 31, 2020

Industrial Leasing Activity Texas

Owens & Minor Distribution Signs 124,044 SF Industrial Lease Renewal in Houston

by Taylor Williams January 31, 2020

HOUSTON — Owens & Minor Distribution Inc., a Virginia-based healthcare solutions firm, has signed a 124,044-square-foot industrial lease renewal at 2700 Brittmoore Road in Houston. Jim Cooksey and Adam Faulk of Newmark Knight Frank represented the tenant in the lease negotiations. Stream Realty Partners represented the landlord, G&I IX Kempwood LLC.

January 31, 2020

Acquisitions Illinois Industrial Midwest

Dayton Street Partners Acquires Two Industrial Properties in Elk Grove Village, Illinois

by Kristin Harlow January 31, 2020

ELK GROVE VILLAGE, ILL. — Dayton Street Partners has acquired two industrial properties in Elk Grove Village. Seller information and purchase prices were not disclosed. The first warehouse, 2454 Elmhurst Road, was built in 1982. Situated on 1.3 acres, the 16,473-square-foot property features 4,900 square feet of office space, five exterior docks and two drive-in doors. It is fully leased to Crown Roll Leaf and Associated Builders and Contractors. The second building, 2500 York Road, spans 55,356 square feet and sits on 3.3 acres. It features two interior docks and three drive-in doors. Dayton Street plans to update painting and lighting. Chicago-based Dayton Street is a commercial real estate investment and development firm focused on industrial properties.

January 31, 2020

Acquisitions Colorado Industrial Western

LaSalle Investment Management Buys 345,126 SF Parc Santa Fe Industrial Asset Near Denver

by Amy Works January 31, 2020

LITTLETON, COLO. — LaSalle Investment Management (LIM) has acquired Parc Santa Fe, an industrial development located on 22 acres along South Santa Fe Drive in Littleton. Jackson-Shaw, LaPour Partners and Stream Realty Partners sold the asset for an undisclosed price. Totaling 345,126 square feet, the three-building property features 24-foot and 28-foot clear heights, gated outside storage and car parking, ample dock doors and abundant power. The development consists of an 85,903-square-foot building, a 169,590-square-foot facility and a 89,633-square-foot building. Delivered in September 2019, the project represented the first new industrial development in the area since 1997. At the time of sale, the asset was 62 percent leased. Tyler Reed, Peter Beugg and Dominic DiOrio of Stream Realty, along with Bo Mills of JLL’s Los Angeles office, handled the acquisition. Stream Realty will continue to handle leasing and management of Parc Santa Fe on behalf of LIM, with Reed, Beugg and DiOrio leading leasing efforts and Tom Bahn leading property management.

January 31, 2020

300-N-Baldwin-Park-Blvd-City-of-Industry-CA

Acquisitions California Industrial Western

CBRE Brokers $61M Sale of Fully Occupied Industrial Property Near Los Angeles

by Amy Works January 31, 2020

CITY OF INDUSTRY, CALIF. — CBRE has arranged the sale of a single-tenant industrial property in City of Industry. A client of BentallGreenOak, a global real estate investment management firm, acquired the property for $61 million, or $265 per square foot. Cameron Merrill of CBRE represented the seller, 300 Baldwin Park LLC, a private owner, in the deal. Located at 300 N. Baldwin Park Blvd., the 230,247-square-foot property was completed in 2015. Jacmar Foodservice Distribution fully occupies the facility, which features 6 million cubic feet of multi-temperature storage with six different temperature zones, allowing for direct refrigerated and frozen receiving and loading.

January 31, 2020

Newer Posts

Older Posts