Property Type

21605-N-Central-Ave-Phoenix-AZ

PHOENIX — Dallas-based Stonelake Capital Partners has purchased two small-bay industrial buildings in Phoenix’s Deer Valley submarket. At the time of sale, the 80,030-square-foot portfolio was fully leased to two single tenants. Terms of the transaction were not released. The portfolio includes a 34,248-square-foot building at 22200 N. 7th Ave. and a 45,782-square-foot building at 21605 N. Central Ave. Developed in 2000 on 10 acres, the buildings feature gated and secured yards, 24-foot clear heights, grade-level loading and LED lighting. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield represented the buyer and seller in the deal. Trevor McKendry and Chris Rogers of DAUM provided leasing advisory.  

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TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of Sunnyslope Apartments, a 41-unit multifamily property at 150 E. Hardy Road in Tucson. Urbana @ Oro Valley LLC acquired the asset from Sunnyslope Apartments LLC for $5.6 million. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented the buyer and seller in the deal.

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NEW YORK CITY — Marcus & Millichap has brokered the $20 million sale of a portfolio of seven multifamily buildings totaling 124 units in Brooklyn’s Sunset Park neighborhood. The rent-stabilized buildings feature a mix of one- to four-bedroom units. John Brennan, Bryan Ellis and Miles Davis-Bosch of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were New York-based private investors that requested anonymity.

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SPARTA, N.J. — Admiral Metals has signed a 12,290-square-foot industrial lease in Sparta, about 50 miles west of New York City. The processor and distributor of various metallic elements will relocate to a newly constructed, 27,000-square-foot building within White Lake Commerce Park. John Schilp of NAI James E. Hanson represented the owner, Berardi Building Co., and Admiral Metals in the lease negotiations.

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CINCINNATI — Cincinnati Children’s has acquired a recently constructed office building in the Cincinnati Innovation District that will be home to over 200 employees who focus on non-laboratory research. The health system will occupy the top two floors of the six-story, 180,000-square-foot building at 3090 Exploration Ave. The purchase price was undisclosed. JobsOhio provided a $32 million low-interest loan to help Children’s acquire the property, which was built by Terrex Development & Construction. As part of the agreement with JobsOhio, Children’s committed to creating 100 new research jobs with a payroll of at least $10 million. The health system also committed to increasing research that relies on federal funding. The two floors to be occupied by Children’s encompass a total of 60,000 square feet. The four lower levels will be leased to other organizations. Cushman & Wakefield will market those spaces for lease. The building will also include a breakfast and lunch dining concept, details of which will be announced in the coming months. Build-out of the interior space for Children’s is expected to take nine to 12 months and will be overseen by TriVersity Construction. BHDP Architecture will lead the design. Motz Engineering will handle mechanical, electrical and plumbing, …

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SHALERSVILLE, OHIO — Geis Development is underway on the construction of a new 220,000-square-foot manufacturing facility for Viega in Shalersville, about 40 miles southeast of Cleveland. Viega works in press technology for metal pipe fittings and valves. The project is situated within Geis’ Turnpike Commerce Center. Construction began in November and is slated for completion in early 2025. The 80-acre parcel and construction of the new plant represent an investment of approximately $200 million in Ohio. Geis is collaborating with Viega’s design team to ensure that the project aligns with Viega’s sustainability goals, which include reducing the carbon emissions associated with importing products by manufacturing more items in the U.S. The new facility will be completely carbon neutral from the start, supporting the company’s long-term goal of achieving net-zero carbon emissions for all its plants by 2035.

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MONEE, ILL. — Venture One Real Estate, in partnership with DRA Advisors, has purchased a 718,709-square-foot industrial building in Monee, a southern suburb of Chicago. The purchase price and seller were undisclosed. Located at 25850 Ridgeland Ave., the property is fully leased to one tenant. Constructed in 2004 and situated on 44 acres, the facility features a clear height of 30 feet, 75 exterior docks, two drive-in doors and more than 100 trailer stalls. Sean Devaney, Kurt Sarbaugh, Ed Halaburt, Ross Bratcher, Scott Duerkop, Keith Stauber and Steve Ostroswki of JLL represented the seller. Brian Walsh and Lucas Borges of JLL arranged permanent financing for the transaction. Venture One utilized its acquisition fund, VK Industrial VI, which is co-sponsored by Venture One and Kovitz Investment Group.

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CHESTERFIELD AND O’FALLON, MO. — Keystone Construction Co. has completed the corporate headquarters for both Tubular USA and SourceOne Solutions LLC in suburban St. Louis. Tubular USA, a supplier of in-line galvanized pipe and tubing, now occupies a 131,000-square-foot facility in Chesterfield that replaces two existing buildings in Weldon Spring. The project, situated within Spirit Valley Business Park, features offices, steel fabrication, warehouse space and room for future growth. Tubular’s steel products are integrated into the building’s architectural design. The project team included Gray Design Group, Stock & Associates Consulting Engineers Inc. and Knapp Engineering. The 37,500-square-foot headquarters for SourceOne Solutions is situated on a 6.4-acre site in O’Fallon. The company is involved with the design, construction, maintenance and renovation of commercial lighting solutions. The new facility was designed and constructed to allow for multiple expansions in the future. In addition to warehousing and manufacturing space, the property features 6,500 square feet of office space with a covered entry and patio, executive offices, training and conference rooms, open workstations and a café. The project team included Gray Design Group, Knapp Engineering and Civil & Environmental Consultants.

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OVERLAND PARK, KAN. — Pearlmark, in partnership with Archstone Capital, has purchased Stonehaven at Overland Park, a 68-unit, townhome-style multifamily property in the Kansas City suburb of Overland Park. The purchase price and seller were undisclosed. The asset consists of nine two-story buildings with 34 two-bedroom and 34 three-bedroom floor plans. The transaction marks Chicago-based Pearlmark’s first acquisition in metro Kansas City and its fifth investment in its latest equity fund, Pearlmark Equity Partners II LP. The fund is actively investing in the middle market value-add space across the U.S.

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VANCOUVER, WASH. — Lincoln Property Co. (LPC) has opened Port of Vancouver USA Terminal 1, an office and retail development in southern Washington. The two-building complex is located in the city’s waterfront district and features 366,000 square feet of Class A office space, 12,000 square feet of ground-floor retail space and commercial amenities. The office component of the project will house the new global headquarters for ZoomInfo, an artificial intelligence platform provider based in Vancouver. Four years ago, the Port of Vancouver USA selected LPC to develop the site on port land along the Columbia River in one of two master-planned communities that are transforming the waterfront into a live-work-play neighborhood. The waterfront district is situated in the city’s urban core with convenient access to highways, public transit and Portland, Ore. The Terminal 1 development features 10- and nine-story buildings, a rooftop deck and 10,000 square feet of landscaped green spaces and outdoor seating that will be open to the public. Parking will be available on nights and weekends. The development team is also targeting LEED Gold certification. The 10-acre site is already home to an AC Hotel by Marriott, green open spaces, walking trails and bike paths. A public …

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