Industrial

Stonemont Launches Phase I of 540-Acre Southwest International Gateway Business Park in El Campo

by Taylor Williams February 10, 2020

EL CAMPO, TEXAS — Atlanta-based Stonemont Financial Group has launched Phase I of Southwest International Gateway Business Park, a 540-acre industrial development in El Campo, located about 70 miles southwest of Houston. The rail-served development has the capacity to house up to 8 million square feet of industrial space. Phase I, construction of which is scheduled to begin this quarter, will include a 125,000-square-foot distribution center that is preleased to Vitro Chemicals and a 200,000-square-foot speculative warehouse. Atlanta-based developer Ridgeline Property Group is partnering with Stonemont on the project, and NAI Partners will handle leasing of the property.

February 10, 2020

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Brokers Sale of 101,492 SF Industrial Building in Dallas

by Taylor Williams February 10, 2020

DALLAS — Lee & Associates has brokered the sale of a 101,492-square-foot industrial building located at 10355 Sanden Drive in Dallas. According to LoopNet Inc., the single-tenant property was built in 1994 and features 24-foot clear heights and 16 dock-high loading doors. Taylor Stell and Brett Lewis of Lee & Associates represented the buyer, Rotary Corp., in the transaction. The seller was not disclosed.

February 10, 2020

Industrial Loans Office Washington Western

CBRE Arranges $38.6M in Financing for Canyon Park East Business Campus in Washington

by Amy Works February 10, 2020

BOTHELL, WASH. — CBRE Capital Markets’ Debt & Structured Finance group has secured $38 million in financing for Canyon Park East, a business campus in Bothell. CBRE arranged the financing for Kennedy Wilson Fund VI, which purchased the property in December 2019 for $54.6 million. The $38.6 million loan closed on Jan. 30 with financing from an East Coast-based bank. Brad Zampa, Mike Walker and Megan Woodring of CBRE arranged the six-year, non-recourse, floating-rate financing with full-term interest-only payments. The loan will finance a portion of the acquisition and provide funding for future capital expenditures and leasing costs. Tom Pehl and Lou Senini with CBRE Capital Markets in Seattle represented the undisclosed seller in the acquisition deal. Situated on 16.5 acres, Canyon Park East comprises five office, R&D and warehouse buildings offering a total of 269,369 square feet of rentable space. At the time of financing, the property was 83 percent occupied.

February 10, 2020

Acquisitions Colorado Industrial Office Western

H.I.G. Realty Partners Provides $33.1M Acquisition Loan for Industrial/Office Portfolio in Denver

by Amy Works February 10, 2020

DENVER — H.I.G. Realty Partners, an affiliate of H.I.G. Capital, has funded a $33.1 million loan for the acquisition of an industrial/flex office portfolio located in Denver. The borrower is CW Capital Partners. The three-building portfolio features 264,000 square feet of industrial and flex office space. At the time of acquisition, the portfolio was 80 percent occupied by a diverse group of tenants. The floating-rate, five-year loan allows for future advances for the lease-up of the portfolio over time.

February 10, 2020

Development Industrial Texas

United Equities to Develop Phase II of Beltway-225 Business Park in Metro Houston

by Taylor Williams February 7, 2020

PASADENA, TEXAS — United Equities will develop Phase II of Beltway-225 Business Park, an industrial project that fronts Beltway 8 in the eastern Houston suburb of Pasadena. Phase I of the project delivered 85,500 square feet, and the first two completed buildings of that phase have been leased to Cooper Valves (21,000 square feet) and PTR Holland Maritime (18,500 square feet). Travis Land and Michael Keegan of NAI Partners represented United Equities in both lease negotiations. Phase II of the project, a construction timeline for which was not released, will include two tilt-wall buildings totaling 46,000 square feet.

February 7, 2020

Spectrum-Centre-Business-Park-Lake-Forest-CA

Acquisitions California Industrial Western

BKM Capital Buys 11-Property Industrial Portfolio in Four Western Markets for $425.4M

by Amy Works February 7, 2020

NEWPORT BEACH, CALIF. — Newport Beach-based BKM Capital Partners has purchased an 11-property industrial portfolio in four Western markets for a total consideration of $425.4 million. The properties are located in Phoenix, Northern and Southern California and Tigard, Ore. BKM acquired eight of the properties through BKM Industrial Value Fund II and three of the properties in partnership with Canyon Catalyst Fund, a program Canyon Partners manages on behalf of the California Public Employees’ Retirement System. The portfolio contains 2.7 million square feet of space and 493 units. At the time of sale, the portfolio was nearly 90 percent occupied. The newly acquired properties include: A four-property, $157.7 million Phoenix-area portfolio, including: Magnolia, a 35,385-square-foot building at 2655 Magnolia St. in Phoenix Hohokam 10E, an 82-unit, multi-tenant property in Tempe, Ariz. Broadwood, a four-building, 34-unit, multi-tenant facility at 2450-2452 W. Broadway Road in Mesa Broadway 101 Commerce Park, a 55-unit, multi-tenant asset in Mesa A four-property, $124.2 million Northern California portfolio, including: Bradshaw, a 33-unit, multi-tenant asset at 9828, 9912, 9940 and 9960 Business Park Drive in Sacramento Horn Road, a 48-unit, multi-tenant property at 9901-9981 Horn Road in Sacramento Concord Business Park, a 27-unit, multi-tenant facility on Imhoff Drive …

February 7, 2020

Acquisitions Industrial Midwest Missouri

NGZ Brokers Sale of Seven-Building Industrial Flex Portfolio in Kansas City’s Executive Park

by Kristin Harlow February 7, 2020

KANSAS CITY, MO. — Newmark Grubb Zimmer (NGZ) has brokered the sale of a seven-building industrial flex portfolio located in Kansas City’s Executive Park. The 210,751-square-foot portfolio is home to 17 tenants and was 89 percent occupied at the time of sale. Mark Long and John Hassler of NGZ represented the seller, Odyssey Real Estate Capital. A local investment group purchased the asset for an undisclosed price.

February 7, 2020

Acquisitions Industrial Midwest Wisconsin

Brennan Acquires 98,600 SF Industrial Facility in Milwaukee

by Kristin Harlow February 7, 2020

MILWAUKEE — Brennan Investment Group has acquired a 98,600-square-foot industrial facility in Milwaukee. The seller and sales price were undisclosed. The property, located at 11925 W. Carmen Ave., is fully leased to Hilmot, a provider of conveyor equipment. Andy Hess and Derek Yentz of Founders 3 Real Estate Services represented Brennan in the transaction. Chicago-based Brennan has acquired more than $4 billion in industrial real estate since 2010.

February 7, 2020

Acquisitions Colorado Industrial Western

Woodspear Properties Purchases Industrial Facility in Denver for $21.1M

by Amy Works February 7, 2020

DENVER — Woodspear Properties (Ascendant Capital Partners DNA) has purchased an industrial property located at 9950 E. 40th Ave. in Denver. H-B Tempe LLC , a Minneapolis-based private investor, sold the asset for $21.1 million, or $196.69 per square foot. Built in 2014 with concrete tilt-up construction, the 107,303-square-foot, institutional-grade facility features 7,037 square feet of office space, three dock doors and 16 drive-in doors. Situated on seven acres, the asset is located 15 miles from the Denver International Airport and 10 miles from downtown Denver. Federal Express fully occupies the property and utilizes it as a mission-critical facility. Mike Wafer, Tim D’Angelo, Tim Prinsen and Jerry Hopkins of Newmark Knight Frank (NKF) represented the seller the in transaction. The NKF team also provided transactional assistance to the buyer.

February 7, 2020

Company News Development Industrial Midwest Office Ohio Top Stories

Sherwin-Williams to Develop World Headquarters, R&D Center in Metro Cleveland for $600M

by Alex Tostado February 7, 2020

CLEVELAND AND BRECKSVILLE, OHIO — The Sherwin-Williams Co. (NYSE: SHW) plans to develop a new world headquarters building in downtown Cleveland, as well as a research and development (R&D) center in the Cleveland suburb of Brecksville. The company plans to invest $600 million to construct both facilities. The paint manufacturer and retailer’s headquarters building will span 1 million square feet just west of Public Square between Saint Clair and Superior avenues. The R&D center will span 500,000 square feet and will be located off Interstate 77 at Miller and Brecksville roads, 16 miles south of downtown Cleveland. The transition to the new facilities won’t occur until 2023 at the earliest, the company says. Sherwin-Williams previously launched a nationwide search for its new headquarters location before deciding to stay in Ohio, where it has been based since it was founded in 1866. “We currently operate out of a 90-year-old headquarters building that has served us well but is no longer conducive to meeting our future needs,” says John Morikis, the company’s chairman and CEO. “The major planned investment in Cleveland and Northeast Ohio we are announcing today reflects our confidence in the continued strength of the region and its people and …

February 7, 2020

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