NASHVILLE, TENN. — EverWest Real Estate Investors has purchased a 169,855-square-foot industrial building in Nashville for $12 million. The property is situated at 640 Massman Drive, five miles from Nashville International Airport and six miles from downtown Nashville. The building was completed in 2000 and offers 20- to 32-foot clear heights, vehicle parking and a separate parcel for trailer storage. EverWest plans to upgrade the property, including new dock doors, energy-efficient LED lighting, exterior paint and transformation of approximately 5,000 square feet of office space into fully modernized interiors. It will also upgrade the parking and truck court areas with new asphalt. EverWest plans to begin upgrades in the second quarter with an expected completion in the third quarter of this year. Todd Prevost of Avison Young represented the buyer in the deal. An undisclosed private seller sold the asset in an off-market transaction.
ATLANTA — JLL has arranged the sale of Piedmont Warehouses, a two-building, 120,800-square-foot industrial property in Atlanta. The property is situated on 5.6 acres at 2091-2241 Faulkner Road, seven miles north of downtown Atlanta, less than a mile from Interstate 85 and Ga. Highway 400, and three miles from I-75. The buildings were renovated in 2018 and feature 34 dock-high doors, 16-foot clear heights, office space and numerous suites with air-conditioned warehouse space. JLL represented the seller, a partnership between Weaver Capital Partners and The Seng Co., in the transaction. Further details of the sale were not disclosed.
SAN DIEGO — San Diego Rescue Mission has completed the sale of an industrial facility located at 5150 University Ave. in San Diego. University Storage acquired the asset for $7.7 million. The 2.2-acre lot features a 38,610-square-foot industrial building. The buyer plans to redevelop the property into a self-storage facility. George Hicker and Michael McFarland of Cardinal Industrial, along with Matt Weaver and Al Apuzzo of Lee & Associates – North County San Diego, represented the seller and buyer in the deal.
GARLAND, TEXAS — Marcus & Millichap has brokered the sale of a trio of industrial assets totaling 53,254 square feet in Garland, a northeastern suburb of Dallas. The buildings are situated on a combined 2.7 acres and were built between 1969 and 1991. Adam Abushagur and Sam Martin of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
GRAND PRAIRIE, TEXAS — Lee & Associates has negotiated a 22,265-square-foot industrial lease at 921 Ave. M in Grand Prairie, located midway between Dallas and Fort Worth. Mark Graybill and Colton Rhodes of Lee & Associates represented the tenant, Alltech Engineering, in the lease negotiations. The representative of the landlord, Sealy & Co., was not disclosed.
WHITE MARSH, MD. — A joint venture between Atapco Properties and Chesapeake Real Estate Group LLC (CREG) has sold Nottingham Ridge, a two-building, 750,000-square-foot industrial complex in White Marsh, for $71.2 million. The Baltimore County property spans 52 acres at 5301 and 5300 Nottingham Drive, 14 miles northeast of downtown Baltimore and Port of Baltimore. The joint venture acquired the land from Paragon Outlets in 2018. The development took 18 months to complete. The building at 5301 Nottingham spans 165,000 square feet and was 67 percent leased at the time of sale. The asset at 5300 Nottingham was unoccupied at the time of sale. The buyer was not disclosed.
PHILADELPHIA — Newmark Knight Frank has arranged a $163 million floating-rate loan for the acquisition and refinancing of a 12-property industrial portfolio located in various markets across the United States. A partnership of CIT Group and BlackRock provided the loan. The borrower, Philadelphia-based Arden Group, will use the proceeds to acquire assets located in Texas, Georgia and Ohio and to refinance assets located in Pennsylvania and North Carolina. Dustin Stolly and Jordan Roeschlaub led an NKF team that arranged the loan. The seller of the portfolio was California-based investment firm Avistone LLC.
YORK, PA. — Rock Commercial Real Estate has brokered the sale of a 46,640-square-foot industrial property in York, approximately 25 miles south of Harrisburg. Located at 560 Maryland Ave., the property offers convenient access to Harrisburg International Airport, the Port of Baltimore and the Emons Logistics Services railroad. Greg Finkelstein and Jason Turnbull of Rock Commercial represented the buyer, Frasier-Campbell Properties LLC, in the transaction. The team also procured the buyer, 4300 NESC LLC.
CARROLLTON, TEXAS — United Laboratories Manufacturing LLC, a provider of dietary supplements and sports nutrition products, has signed a 131,840-square-foot industrial lease renewal at 1270 Champion Circle in the northern Dallas suburb of Carrollton. Steve Trese of CBRE and Max Knake of Knake Dodge & Co. represented the tenant in the lease negotiations. The representative of the landlord, ML Realty, was not disclosed.
MINNEAPOLIS — PCCP, in a joint venture with Capital Partners, has acquired a five-property industrial portfolio in metro Minneapolis for an undisclosed price. The light industrial portfolio spans 557,887 square feet and is currently 87 percent leased. The seller, Scannell Properties, developed three of the buildings within the last year. The specific locations of the properties were not disclosed, but they are situated in three different submarkets within the metro area.