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FedEx's Consolidation Plan Puts $3B Of CMBS Debt In CrosshairsFedEx's consolidation could trouble industrial landlords with leases expiring before mortgages mature.
Midtown Capital Pays $86M for 13 Doral Industrial AssetsKnighthead Funding provided a $63 million loan to Midtown Capital Partners to finance the acquisition of a portfolio of 13 urban-infill, small-bay industrial assets in Doral, Florida.
WareSpace Opens 174,500 SF Industrial Facility in PlanoPLANO, TEXAS — WareSpace, a a national provider of micro-bay warehouse spaces, has opened a 174,500-square-foot facility in Plano, located northeast of Dallas.
Representative imageLee & Associates Negotiates 14,100 SF Industrial Lease in Richardson, TexasRICHARDSON, TEXAS — Lee & Associates has negotiated a 14,100-square-foot industrial lease in the northeastern Dallas suburb of Richardson. According to LoopNet Inc., the building at 789 N. Grove Road was completed in 1983 and totals 54,471 square feet.
Representative imageManova Partners Acquires 1 MSF Logistics Facility in Spartanburg, South CarolinaSPARTANBURG, S.C. — Munich-based Manova Partners has acquired Spartanburg 221, a roughly 1 million-square-foot logistics facility located at 2536 Chesnee Highway in Spartanburg. New York-based Rockefeller Group sold the property for an undisclosed price.
Sagard Real Estate Purchases 400,800 SF Industrial Property in West AtlantaATLANTA — Sagard Real Estate has acquired 5070 Phillip Lee Drive SW, a 400,800-square-foot industrial property located in Atlanta. The seller was SkyREM, according to multiple media sources. The purchase price was not disclosed.
Representative imageBWE Arranges $48M Refinancing for 978,000 SF Industrial Property in DeKalb, IllinoisDEKALB, ILL. — BWE has arranged $48 million to refinance a 978,000-square-foot logistics facility occupied by 3M in DeKalb. Mike Guterman of BWE arranged the fixed-rate loan, which features a 55 percent loan-to-value ratio.
Rexford Closes on $1.2B Portfolio Sale to EQTRexford Industrial Realty, Inc. on Thursday announced the closing of its previously announced sale of an industrial portfolio to an affiliate of EQT Real Estate for approximately $1.2 billion. CBRE National Partners advised Rexford on the sale.
Beer-Importing Holterbosch Family Offloads LIC Warehouse for $95MThe Holterbosch family, former owners of a German beer importing and distribution business, has sold a Long Island City, Queens, warehouse a decade after the death of its patriarch.
Juanita’s Foods to Consolidate L.A. Production at 120K-SF FacilityAn 80-year-old food manufacturer is consolidating its Southern California operations into a new 120,000-square-foot facility in Santa Fe Springs, in the first deal backed by a recently formed alliance of four Los Angeles County industrial cities.
Representative imageKnighthead Lends $63M or Doral, Fla., Industrial Portfolio BuyMidtown Capital Partners has sealed $62.92 million of acquisition financing to fund its purchase of 13 urban-infill, small-bay industrial assets in Doral, Fla., Commercial Observer has learned.
Representative imageAres Management, PSP Investments Form $2.4B U.S. Logistics PartnershipAres Management is diving deeper into the waters of U.S. logistics.
Lee & Associates Negotiates 176,182 SF Industrial Lease in Lewisville, TexasLEWISVILLE, TEXAS — Lee & Associates has negotiated a 176,182-square-foot industrial lease at 501 Holfords Prairie Road in the northern Dallas suburb of Lewisville.
Magnus Breaks Ground on 226,800 SF Industrial Building at 803 Park in Columbia, South CarolinaCOLUMBIA, S.C. — Magnus Development Partners has broken ground on Gateway 2, the fourth building at the 803 Park industrial campus adjacent to Columbia Metropolitan Airport.
Warehub Founder James Holbrook On Industrial’s Flexibility NeedsU.S. industrial real estate spent much of the pandemic defined by tenants racing to secure as much warehouse space as they could for as long as they could. Those days are long gone.
Netflix House Building In King Of Prussia Sells For $60M: The Philadelphia Deal SheetEPR Properties bought the Netflix House property for $60M. Also in the Philly Deal Sheet, a Delaware County industrial sale and a Philadelphia Navy Yard lease.
Wonderful Real Estate Trades 1.1M-SF Industrial to Global Technology CompanyThe Wonderful Company announced that its Wonderful Real Estate business has completed the sale of 5104 Express Ave. to a major global technology and e-commerce company.
Representative imageCIBC Supplies $102M Refi for SkyREM Industrial PortfolioReal estate investment firm SkyREM has secured $101.8 million to refinance a 1.9 million-square-foot industrial portfolio across the East Coast, Commercial Observer has learned.
REPORT: Amazon Eyes Next Industrial Push With Plans To Expand Same-Day DeliveriesAmazon plans billions in industrial real estate to boost same-day delivery, reshaping the market with Project Mercury.
Prologis Buys JFK Airport Warehouse From Wildflower for $49MPrologis is taking control of a last-mile logistics facility near Queens’ John F. Kennedy International Airport.