Industrial

Brennan Purchases 165 Acres in Lakeland, Florida for Industrial Development

by Alex Tostado December 9, 2019

LAKELAND, FLA. — Chicago-based Brennan Investment Group has purchased 164.9 acres in Lakeland, approximately 31 miles northeast of Tampa, for an undisclosed price. The site plan for a speculative industrial development, to be called CenterState Logistics Park East, has zoning approval for up to 1.5 million square feet. Edward Miller, Dee Seymour, Deborah Mickler and David Wilson of Colliers International’s Central Florida office represented Brennan in the land purchase. The seller was Ruthven I-4 LLC. Brennan will begin development of 1 million square feet of space at CenterState Logistics Park East this year, with completion expected by the end of 2020. Colliers will serve as the exclusive listing agent for the CenterState Logistics Park East development, which will feature a cross-dock warehouse with 40-foot clear heights and tractor parking. The site is located at Exit 38 on Interstate 4.

December 9, 2019

Industrial Leasing Activity Texas

Shaffer Sports Signs 125,000 SF Industrial Lease in Houston, to Relocate from Alabama

by Taylor Williams December 9, 2019

HOUSTON — Shaffer Sports & Events, which provides furniture and tents for sporting events, has signed a 125,000-square-foot industrial lease at 10901 Tanner Road in Houston. The space will serve as the company’s primary warehouse and office headquarters following its relocation from Birmingham, Ala. John Parsley, Gary Mabray and Judd Harrison of Colliers International represented Shaffer Sports in the lease negotiations. David Boyd, Greg Barra and Wes Williams of Boyd Commercial represented the landlord, Exeter 10901 Tanner LP. The sister company of Shaffer Sports, Aztec Events & Tents, also signed a 125,697-square-foot industrial lease renewal in Houston. The Colliers team represented Aztec in its lease negotiations as well.

December 9, 2019

Industrial Leasing Activity Texas

Waterlogic Signs 111,012 SF Industrial Lease at Prologis Freeport Corporate Center in Dallas

by Taylor Williams December 9, 2019

DALLAS — Waterlogic, a provider of purified bottle-less water dispensers, has inked a deal to occupy 111,012 square feet of light manufacturing and distribution space at Prologis Freeport Corporate Center in Dallas. The company expects to take occupancy in early 2020. Caleb McCoy and Matt Bracco of JLL represented Waterlogic in the lease negotiations. Michael Flowers represented the landlord, Prologis on an internal basis.

December 9, 2019

Development Industrial Northeast Rhode Island

Gotham Greens Opens 100,000 SF Greenhouse in Providence, Rhode Island

by Alex Patton December 9, 2019

PROVIDENCE, R.I. — Brooklyn-based agricultural company Gotham Greens has opened a 100,000-square-foot greenhouse in Providence. The project is located along the Woonasquatucket River, at the site of a former General Electric lighting factory. The new urban farm will provide fresh produce to local restaurants and grocery stores, including Whole Foods Market, and will host educational programming about sustainable agriculture. Gotham Greens expects to create approximately 60 full-time jobs in Rhode Island and has committed to donating more than 5,000 pounds of fresh produce to the Rhode Island Food Bank during the winter season.

December 9, 2019

Acquisitions California Industrial Lee & Associates Office Western

Lee & Associates Negotiates Sale of 60,416 SF R&D Building in Southern California

by Amy Works December 9, 2019

SIMI VALLEY, CALIF. — Lee & Associates-LA North/Ventura has arranged the sale of a research and development building located at 685 E. Cochran St. in Simi Valley. Albert Halami, a private investor, acquired the asset from 685 Cochran Holdings LLC for $11 million, or $183 per square foot. The seller will continue to occupy a portion of the 60,416-square-foot property for its businesses, which include SensoScientific, under a sale-leaseback arrangement. Other tenants at the fully leased building include Hangman Products and Brown & Brown Insurance. Built in 1986, the two-story property features 22-foot and 24-foot clear heights, two dock-high doors and three grade-level loading doors. The second floor, with about 20,000 square feet of general and engineering offices, was fully renovated in 2015. The buyer plans to continue the renovation efforts, including re-landscaping and improving the parking lot. Mike Tingus and Grant Fulkerson of Lee & Associates-LA North/Ventura.

December 9, 2019

Acquisitions Colorado Industrial Western

CBRE Brokers $9.9M Sale of Moncrieff Business Center Industrial Building in Aurora, Colorado

by Amy Works December 9, 2019

AURORA, COLO. — CBRE has arranged the sale of Moncrieff Business Center, an industrial building located in Aurora. San Francisco-based Berkeley Partners sold the property to an investor advised by Zurich Alternative Asset Management for $9.9 million. Located at 14603 E. Moncrieff Place within Denver’s Airport submarket, the 101,406-square-foot building features 22-foot clear heights; an ESFR fire protection system; dock-high and oversized drive-in loading; rail doors serviced by Union Pacific; and fenced outside storage. Constructed in 1982 on 4.23 acres, the property was fully leased at the time of sale. Tyler Carner, Jeremy Ballenger, Jim Bolt and Jessica Osternick of CBRE’s Denver office represented the seller in the deal.

December 9, 2019

Acquisitions Illinois Industrial Midwest Self-Storage

Marcus & Millichap Negotiates Sale of 354-Unit Self-Storage Facility Near St. Louis

by Kristin Harlow December 9, 2019

COLLINSVILLE, ILL. — Marcus & Millichap has negotiated the sale of a Stowaway Self Storage facility in Collinsville, east of St. Louis. The sales price was undisclosed. Located at 1 Business Center Court, the property spans 44,038 square feet with 354 units. It features a variety of unit types ranging from five to 60 square feet in size. Britney Hendricks and Sean Delaney of Marcus & Millichap marketed the property on behalf of the seller, an individual trust. The team also procured the buyer, a private investor.

December 9, 2019

Development Industrial Kentucky Loans Southeast

Trez Forman Provides $38.8M Construction Loan for Spec Industrial Project in Northern Kentucky

by Alex Tostado December 6, 2019

WALTON, KY. — Trez Forman Capital has provided a $38.8 million construction loan for two spec industrial buildings totaling 776,820 square feet in Walton, a city in northern Kentucky approximately 20 miles south of downtown Cincinnati. The borrower, SFG Walton KY LLC, is developing the buildings on a 55-acre site within Logistics Park 75, near the intersection of Interstates 75 and 71. The first building will span 544,320 square feet and feature two tenant bays of equal size. The second will span 232,500 square feet also with two bays of the same size. The space has the ability to be subdivided to accommodate a wide variety of tenants. Each structure features 36-foot clear ceiling heights and multiple dock-high doors. The lot is situated 15 miles from Amazon’s Prime Air Cargo Hub at Cincinnati/Northern Kentucky International Airport. A timeline for completion was not disclosed. Brett Forman and Russ Holland of Trez Forman Capital originated the loan on behalf of the borrower.

December 6, 2019

Development Industrial Texas

Core5 Industrial Partners Begins Construction on 65-Acre Logistics Center in McKinney

by Taylor Williams December 6, 2019

MCKINNEY, TEXAS — Atlanta-based Core5 Industrial Partners has broken ground on Core5 Logistics Center of McKinney, an industrial project being developed on 65 acres north of Dallas. The initial phase of the project will deliver 431,710 square feet of space across two buildings, with completion scheduled for early summer 2020. Dallas-based Citadel Partners will handle leasing of the buildings.

December 6, 2019

Acquisitions Industrial Self-Storage Texas

Bellomy Arranges Sale of 1,117-Unit Self-Storage Portfolio in Southeast Texas

by Taylor Williams December 6, 2019

LA MARQUE AND DICKINSON, TEXAS — Bellomy & Co. has arranged the sale High Point Storage, a portfolio of two self-storage facilities totaling 1,117 units across 235,918 net rentable square feet in Southeast Texas. One of the properties is located in La Marque, and the other is located in Dickinson, both of which are cities located in between Houston and Galveston. Approximately 28 percent of the units are climate-controlled. Both facilities were roughly 90 percent occupied at the time of sale. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the Houston-based seller and procured the buyer, California-based REIT Public Storage.

December 6, 2019

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