Industrial

Stream to Manage Two New Industrial Properties in Suburban Chicago

by Kristin Harlow May 24, 2019

ELK GROVE VILLAGE AND FRANKLIN PARK, ILL. — Stream Realty Partners has been retained to manage two new Class A industrial properties in suburban Chicago from Principal Real Estate Investors on behalf of an institutional client. The first is a 133,000-square-foot building in Elk Grove Village. Completed in December, the facility is situated on 6.5 acres. Seko Worldwide and Gran Quartz occupy the property, which features 20 exterior docks and a clear height of 32 feet. The second is a 400,370-square-foot building in Franklin Park. Completed in May, the facility is currently available for lease. Situated on 20 acres, it offers 79 exterior docks and a clear height of 36 feet.

May 24, 2019

LogistiCenter-Speedway-North-Las-Vegas-NV

Development Industrial Nevada Western

Dermody Properties Breaks Ground on 251,800 SF Distribution Center in North Las Vegas

by Amy Works May 23, 2019

NORTH LAS VEGAS, NEV. — Dermody Properties has broken ground on LogistiCenter at Speedway, a distribution facility located at 6565 Nascar St. in North Las Vegas. Situated on 14 acres, the 251,800-square-foot building will feature 32-foot clear heights, 52 dock doors, eight grade-level doors and 182 car parking spaces. The building is currently available for pre-leasing and is divisible to 24,300 square feet. Garrett Toft and Sean Zaher of CBRE Las Vegas is representing the property. United Construction Co. is serving as general contractor.

May 23, 2019

Acquisitions Colorado Industrial Western

Quantum Commercial Group Negotiates $1.5M Sale of Industrial Building in Colorado Springs

by Amy Works May 23, 2019

COLORADO SPRINGS, COLO. — Quantum Commercial Group has arranged the sale of an industrial property, located at 2028 Aerotech Drive in Colorado Springs. Aerotech LLC sold the building to KGB LLC for $1.5 million. The property features 15,249 square feet of industrial space. Mary Francis Cowan of Quantum Commercial Group represented the seller, while Mike Helwege and Parker Curry of Core Commercial represented the buyer in the deal.

May 23, 2019

Acquisitions Development Industrial Northeast Pennsylvania

Endurance, Brasler Acquire 18.4-Acre Industrial Site Near Reading, Pennsylvania

by Taylor Williams May 23, 2019

MUHLENBERG TOWNSHIP, PA. — An affiliate of Radnor-based Endurance Real Estate Group and Philadelphia-based Brasler Properties has acquired Berks61, an 18.4-acre industrial land site in Pennsylvania located just outside of Reading. Shortly after acquiring the property, the new ownership secured a build-to-suit agreement with CarbonLITE Holdings LLC, a producer of plastic resins, for the construction of a 270,000-square-foot warehouse and manufacturing facility. The tilt-wall, rail-served building will feature 36-foot clear heights, an ESFR sprinkler system and three drive-in doors. Mark Chubb of Colliers International represented CarbonLITE in the deal. John Van Buskirk, Joel Kreider and Ed Skonecki of Lee & Associates represented the landlord. The partnership also has another project, this one speculative, under development in Berks County that will deliver two buildings totaling approximately 328,000 square feet.

May 23, 2019

Reuten-Corporate-Park-Closter-New-Jersey

Industrial Loans New Jersey Northeast Office

JLL Closes $11M Refinancing of Industrial, Office Asset in New Jersey

by Taylor Williams May 23, 2019

CLOSTER, N.J. — JLL’s Capital Markets team has closed an $11 million loan for the refinancing of Reuten Corporate Park, a 156,782-square-foot industrial and office development in Closter, located across the Hudson River from Yonkers. The property, which spans five buildings with 95,528 square feet of industrial space and 61,254 square feet of office space, was 99 percent leased at the time of sale. Tenants include logistics firm Nippon Express and Rayence, a distributor of flat panel detectors for X-ray equipment. Aaron Niedermayer, Michael Diaz, Chris Byrns and Brendan Collins of JLL placed the loan with M&T Bank on behalf of the borrower, Reuten Associates, which originally developed the property in the mid-1980s.

May 23, 2019

Industrial Leasing Activity Massachusetts Northeast

Stubblebine Negotiates 78,000 SF Industrial Lease in Whitinsville, Massachusetts

by Taylor Williams May 23, 2019

WHITINSVILLE, MASS. — The Stubblebine Co., a CORFAC member and brokerage firm based in the Boston area, has negotiated a 78,000-square-foot industrial lease at 355 Main St. in Whitinsville, located south of Worcester. The lease represents an expansion of the current footprint of the tenant, Core-Mark, a Fortune 400 distributor and marketer of consumer goods. David Stubblebine and James Stubblebine of The Stubblebine Co. represented the landlord, WRT Management, in the lease negotiations. The 355,000-square-foot building is situated on 26 acres and features an ESFR sprinkler system and T-5 lighting.

May 23, 2019

Acquisitions Industrial Michigan Midwest Self-Storage

SkyView Advisors Arranges Sale of 650-Unit Self-Storage Facility in Madison Heights, Michigan

by Kristin Harlow May 23, 2019

MADISON HEIGHTS, MICH. — SkyView Advisors has arranged the sale of a 650-unit self-storage facility in Madison Heights for an undisclosed price. The property, known as Michigan Storage Centers, is situated on 2.6 acres and spans 86,730 square feet. All of the units are climate-controlled. Cameron Vale and Ryan Clark of SkyView represented the undisclosed seller.

May 23, 2019

Acquisitions Industrial Midwest Wisconsin

Colliers Brokers Sale of 163,000 SF Industrial Building in Ripon, Wisconsin

by Kristin Harlow May 23, 2019

RIPON, WIS. — Colliers International has brokered the sale of a 163,000-square-foot industrial building in Ripon in central Wisconsin. The sales price was not disclosed. The property is situated on 13 acres at 100 Creative Way and is served by the Wisconsin Southern Railroad. The buyer, Rogers & Rogers Inc., intends to occupy about one-half of the building and lease the other half to other companies within Ripon.

May 23, 2019

Development Industrial Self-Storage Texas

Jenkins Breaks Ground on 1,090-Unit Self-Storage Facility in Austin

by Taylor Williams May 23, 2019

AUSTIN, TEXAS — The Jenkins Organization, a Houston-based developer and manager of self-storage properties, has broken ground on Bergstrom Storage, a 1,090-unit facility located at 530 S. Highway 182 near Austin-Bergstrom International Airport in southeast Austin. The 238,000-square-foot facility will offer climate- and non-climate-controlled storage space, as well as boat and RV storage, gated security entry, electronic security monitoring throughout and an onsite manager. The opening is slated for March 2020.

May 23, 2019

Acquisitions Industrial Self-Storage Southeast Tennessee

HFF Negotiates Sale of 952-Unit Self-Storage Facility in Nashville

by Alex Tostado May 23, 2019

NASHVILLE, TENN. — HFF has arranged the sale of Charlotte Pike Storage, a 952-unit self-storage facility in Nashville. Charlotte Pike Storage was delivered in October 2018 and is now managed by Public Storage, a self-storage REIT based in California. Barbara Guffey and Jason Nettles of HFF represented the seller, Provident Realty Advisors Inc., in the transaction. Brent Bowman and Travis Anderson of HFF arranged acquisition financing on behalf of the buyer, Proffitt Dixon Partners. The sales price and amount of the loan were not disclosed.

May 23, 2019

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