DUNCAN, S.C. — CRG, the development arm of Clayco Inc., has purchased 39.3 acres of land in Duncan for the construction of The Cubes at Inland Woods. The speculative, cross-dock distribution center will span 467,200 square feet and feature 36-foot clear heights, 128 dock doors, four drive-in doors, 240 employee parking spaces and 74 trailer parking spaces. The Cubes will be situated less than two miles from the Inland Port Greer and less than three miles from BMW’s Spartanburg plant. The design team includes Clayco and its architect subsidiary BatesForum. Colliers International’s Garrett Scott, John Montgomery and Brockton Hall represented CRG on the land purchase and have also been chosen to manage the leasing of the new building. Atlanta-based The Net Lease Group arranged financing on behalf of CRG. The Cubes at Inland Woods is the second project in CRG’s distribution series. The St. Louis-based developer is also currently under construction on The Cubes at Inland 85 in Spartanburg.
ARVADA, COLO. — Marcus & Millichap has arranged the sale of Life Storage, a newly constructed storage facility located in Arvada. Opened in January 2018, the 64,320-square-foot property features 637 climate-controlled self-storage units. The property features a leasing office, multiple elevators, two covered drive-in loading/unloading areas, drives for large vehicles and 24-hour video surveillance. Adam Schlosser and Charles LeClaire of Marcus & Millichap’s The LeClaire Group represented the seller, a local limited liability company, in the deal. The name of the buyer and acquisition price were not released.
CHICAGO, CINCINNATI AND COLUMBUS, OHIO — Westmount Realty Capital LLC has acquired a 1.4 million-square-foot industrial portfolio in Chicago, Cincinnati and Columbus. The portfolio consists of 12 buildings constructed between 1970 and 1994 with clear heights ranging from 20 to 26 feet and an average office finish of 7 percent. Some of the larger tenants within the portfolio include Pactiv, Sonoco Products, Graham Packaging, SAF-Holland USA and FedEx. In the Chicago area, the portfolio consists of a 123,986-square-foot single asset in Alsip that is currently fully leased to four tenants. The Cincinnati portion of the portfolio includes a collection of seven assets. Five of the buildings are in the West Chester submarket on the north side of the Cincinnati metro area. The remaining two buildings are located off I-71 just east of the Cincinnati/Northern Kentucky International Airport. The Columbus portion consists of three infill properties in the West submarket and one 289,491-square-foot asset located south in the Rickenbacker submarket. This portion of the portfolio is currently 78 percent leased. The seller was not disclosed.
WINNSBORO, S.C. — Healthcare US Co., a Chinese foam manufacturer, has bought a 676,548-square-foot industrial facility that sits on 150.5 acres in Winnsboro. The company plans to create 250 jobs and use the facility to produce memory foam for bedding and other products. The property is located at 1 Guardian Way, about 30 miles north of Columbia. Shaun Kirchin and Doug Faris of Philadelphia-based Binswanger represented the seller, Knauf Insulation, in the transaction. The sales price was not disclosed.
JACKSONVILLE, FLA. — Tower Investments has sold a 588,000-square-foot industrial warehouse in west Jacksonville for $15 million to IP Capital Partners. The warehouse is leased to Fanatics Inc. and Conlan Tire Co. The property is situated at 5245 Commonwealth Ave. on 28 acres. IP Capital Partners plans to reposition the property. Bryan Bartlett and John Richardson of Newmark Phoenix Realty Group represented the seller in the transaction.
FAIRFIELD, N.J. — Avison Young has arranged the sale of a 42,000-square-foot industrial facility in Fairfield. The sales price was not disclosed. Located at 2 Gardener Road, the property is the former headquarters of security inspection systems company Autoclear LLC. Matthew C. Turse, Timothy J. Cadigan and John Recchia of Avison Young represented the seller, Autoclear, in the transaction. The buyer was Third Wayne LLC. Avison Young also secured a five-year lease for Autoclear at a new 21,888-square-foot facility located at 10A Bloomfield Ave. in Pine Brook, New Jersey.
MINNEAPOLIS — Altus Properties has sold a four-building, 612,960-square-foot industrial portfolio in metro Minneapolis for $40.4 million. A fund managed by DRA Advisors LLC purchased the portfolio. All four buildings are fully occupied. The properties include a 118,125-square-foot building within Nicollet Business Center in Burnsville; a 322,752-square-foot facility within Boone Avenue Distribution Center in Brooklyn Park; a 50,400-square-foot structure within Cedar Lake Business Center in St. Louis Park; and a 121,684-square-foot building within Bloomington Business Center in Bloomington. Judd Welliver, Ryan Watts, Sonja Dusil and Tom Holtz of CBRE represented the seller.
KYLE, TEXAS — Majestic Realty Co. has begun work on Kyle Crossing Business Park, a two-building, 535,113-square-foot industrial project in Kyle, a city located off Interstate 35 in between Austin and San Antonio. The first building will total 307,840 square feet and feature 36-foot clear heights, 89 dock-high doors, 383 auto parking spaces and 136 trailer parking spaces. The second building will span 227,273 square feet and feature 32-foot clear heights, 56 dock-high doors, 269 auto parking spaces and 85 trailer parking spaces. Both buildings are expected to be complete by the third quarter of 2019. JLL is serving as the exclusive leasing partner on this project, with senior vice presidents Ace Schlameus and Zane Cole leading the effort.
CARLSBAD, CALIF. — A joint venture between SteelWave and funds managed by Angelo Gordon has purchased a former Hughes Aircraft Co. facility, located at 2051 Palomar Airport Road in Carlsbad. Palomar Acquisitions Partners sold the single-story, multi-tenant property for an undisclosed price. Situated on more than 13 acres, the property was originally developed as a build-to-suit campus for Hughes Aircraft Co. in the early 1980s, with a series of renovations over the decades. The buyer plans to convert the 208,904-square-foot asset into a modern creative office/R&D campus. Renovations will include exterior upgrades and improved amenities, as well as a re-branding that will both honor the property’s history and embrace its future use as a creative environment for tech, biotech and creative industry tenants. Upgrades will include a new full-service fitness center, a bistro with indoor/outdoor seating, contemporary architecture, common areas with gaming and lounge areas, and multiple outdoor patios and workspaces. Aric Starck and Rick Reeder of Cushman & Wakefield’s San Diego office represented the seller in the deal.
DALLAS — Taylor Communications, a provider of labels, packaging and corporate branding services, has signed a 241,931-square-foot industrial lease at 8700 Autobahn Drive in south Dallas. The lease represents an expansion from the company’s previous footprint of 220,110 square feet. John Gorman and Canon Shoults of Holt Lunsford Commercial represented the landlord, TA Associates, in the lease negotiations. Ann Huntington of CBRE represented the tenant.