HOUSTON — The Home Depot has signed a 20-year industrial lease at Grand National Business Park, an industrial center in Houston that was developed by Hines. The Houston Chronicle reports that the Atlanta-based home goods chain will occupy 770,640 square feet of cross-dock space at the property, which is located near George Bush Intercontinental Airport, as part of a larger investment in its supply chain management.
GOODYEAR, ARIZ. — Stream Data Centers has purchased an industrial facility on 157 acres in Goodyear. The company plans to establish a data center campus for hyperscale and enterprise customers in the greater Phoenix region. This acquisition marks Stream’s entrance into the Phoenix market. Stream will redevelop the existing 418,000-square-foot facility. At full build-out, the data center will contain approximately 50 megawatts of critical load. The facility is slated to be fully operational for customers in the first quarter of 2020. Additionally, at full build, the entire campus will be able to support approximately 2 million square feet. The company will dedicate land for an on-site sub-station to be constructed by Arizona Public Service with ultimate power capacity of 350 megawatts.
INDIANAPOLIS AND CINCINNATI — Industrial Logistics Properties Trust (Nasdaq: ILPT) has acquired an eight-property industrial portfolio in metro Indianapolis and Cincinnati for $280 million. The buildings total 4.2 million square feet and are fully leased to 10 tenants. On average, the properties are 13 years old and feature clear heights of 34 feet. The seller was not disclosed. ILPT also acquired a portfolio of 18 properties located in 12 states from affiliates of Cole Office & Industrial REIT Inc. for $625.3 million.
OVERLAND PARK, KAN. — StorageMart has opened a self-storage facility in Overland Park. This is the fourth location in the area and the 32nd in metro Kansas City for StorageMart. The property, located at 15415 Metcalf Ave., was constructed in 2017. The facility contains 639 climate-controlled units and nearly 80,000 square feet of rentable space. Special features include an onsite office, video surveillance and keypad access.
CHICAGO — Oberg Medical Products Co. has signed a 60,126-square-foot lease to occupy the entire industrial building in Chicago. The company is consolidating its facilities in Elk Grove Village and Niles at the Chicago-based industrial property, located at 4311 N. Normandy Ave. The facility features a clear height of 25 feet, four exterior docks, one drive-in door and parking for approximately 100 cars. Venture One Real Estate purchased the property in October 2018 and has since conducted interior demolition and renovation work. Chris Volkert and Brendan Green of Colliers represented the tenant. Brett Kroner of Cushman & Wakefield represented the landlord.
WIND GAP, PA. — CBRE has arranged the sale of Wind Gap Logistics Center, a 349,012-square-foot distribution facility in Wind Gap, a town in Pennsylvania’s Lehigh Valley region. The sales price was undisclosed. Located at 1380 Jacobsburg Road, the property features 36-foot clear heights with a 600-foot deep loading bay and an ESFR sprinkler system. The property was designed and built by J.G. Petrucci. Brad Ruppel, Michael Hines, Brian Fiumara, and Lauren Dawicki of CBRE Capital Markets’ Institutional Properties team represented the sellers, J.G. Petrucci and The Davis Companies. The buyer was undisclosed.
MEMPHIS, TENN. — FedEx Logistics, a subsidiary of FedEx Corp., will move its global headquarters to the site of the former Gibson Guitar factory building, a 145,000-square-foot facility located at 145 George W. Lee Ave. near Beale Street in downtown Memphis. FedEx Logistics plans to consolidate multiple locations and more than 700 employees to the site over the next several years. The company will occupy the space beginning in April 2020. FedEx Logistics plans to add a mezzanine level that will bring the total square footage to nearly 200,000. LRK will be the architect for the expansion project.
CLEVELAND — KeyBank Real Estate Capital has provided three loans for the refinancing of a SmartStop self-storage portfolio. Located in 12 states, the 39 facilities total 24,181 units. Randy Martin of Cleveland-based KeyBank originated a $90 million loan for 29 facilities in California, Colorado, Florida, Illinois, Indiana, Maryland, Nevada, North Carolina, Ohio and Texas. Concurrently, the sponsor received a $27.5 million mezzanine loan. Martin also originated a $104 million loan for 10 properties located in California, Florida, Massachusetts, Nevada and South Carolina.
BEDFORD PARK, WOOD DALE AND ELK GROVE VILLAGE, ILL. — Marcus & Millichap has arranged the sales of three industrial buildings in suburban Chicago for $11.5 million. A 159,857-square-foot property in Bedford Park net leased to Packaging Corp. of America sold for $5 million. A 60,275-square-foot property in Wood Dale sold for $3.8 million. The facility was 51 percent occupied at the time of sale. The final property, a 49,360-square-foot building net leased to Wurth Baer Supply, is located in Elk Grove Village and sold for $2.6 million. Jordan Goodman, Matt Fitzgerald and Jeff Rowlett of Marcus & Millichap represented the seller, a special servicer. All three properties sold at auction to separate buyers.
DENVER, BOULDER AND COLORADO SPRINGS, COLO. — HFF has secured $124.3 million in financing for the acquisition of a 41-property industrial portfolio across Denver, Boulder and Colorado Springs. Kevin MacKenzie, Jeff Sause, Leon McBroom and Spencer Richley arranged the 10-year, fixed-rate acquisition loan through Nuveen Real Estate for the borrower, Berkeley Partners. Spread across 19 properties, the portfolio features a total of 1.95 million square feet of industrial space. Situated on a total of 126.3 acres, the portfolio comprises 14 industrial facilities in Denver, three in Colorado Springs and two in Boulder. The properties were built between 1973 and 1996 and are 93 percent leased to 178 tenants.