REBusinessOnline

Arch-Con Breaks Ground on 404,160 SF Distribution Center in Pasadena, Texas

PASADENA, TEXAS — Arch-Con Corp, a general contractor with offices in Houston and Dallas, has broken ground on Underwood Port Logistics Center, a 404,160-square-foot industrial asset near Port Houston in Pasadena. Developed by Triten Real Estate Partners and Carlyle Group, the property features 36-foot clear heights, clerestory windows, full dock packages at the overhead doors and proximity to both the Bayport and Barbours Cut

CT Sells Two Industrial Buildings in Northern California for $47M

STOCKTON, CALIF. — Newport Beach-based CT has completed the sale of two newly constructed industrial buildings within its NorCal Logistics Center in Stockton. Prologis acquired the properties for $47 million. Totaling 575,127 square feet, the assets mark the initial completion of CT's three-building Phase I development of the larger 4.4 million-square-foot NorCal Logistics Center. Prologis paid approximately $82 per square feet for the buildings, which were unleased and in shell condition …

Tortilla Maker Purchases Bakery in Metro Sacramento, Plans $25M Retrofit

ELK GROVE, CALIF. — Mi Rancho, a California-based tortilla maker, has acquired the former Bimbo Bakeries property, located at 10115 Iron Rock Way in Elk Grove, a southern suburb of Sacramento. An undisclosed seller sold the property for $8.1 million. San Leandro-based Mi Rancho plans to invest $25 million to retrofit the facility to Safe Quality Food Institute standards. The company's expansion plans include state-of-the-art manufacturing operations to support its growing business. Mi …

Meridian Breaks Ground on 124,575 SF Speculative Industrial Facility in Woodridge, Illinois

WOODRIDGE, ILL. — Meridian Design Build has broken ground on a 124,575-square-foot speculative industrial facility in Woodridge, a southwest suburb of Chicago. The property is located at 2379 Davey Road near I-55 and I-355. Molto Properties is the developer. The building will feature a clear height of 32 feet, 18 loadable docks, four drive-in doors and 143 car parking spaces. Completion is slated for this October. Jim Estus of Colliers International is marketing the space for lease. Harris …

Majestic Acquires 46 Acres for 500,000 SF Industrial Project in Kyle, Texas

KYLE, TEXAS — Los Angeles-based Majestic Realty Co. has acquired 46 acres for the development of a 500,000-square-foot industrial project in Kyle, located along the Interstate 35 corridor between Austin and San Antonio. Branded Majestic Plum Creek Business Park, the property will deliver Class A, tilt-wall buildings that can accommodate all manner of industrial uses. Majestic will invest approximately $39.7 million in the project, which is being developed on a speculative basis. Construction …

Schlumberger Signs 226,000 SF Office Lease Renewal, Expansion in Houston

HOUSTON — Schlumberger Technology Corp., a division of international oilfield services firm Schlumberger Ltd., (NYSE: SLB) has renewed and expanded its office lease in Houston. The company now occupies 226,000 square feet at 1430 Enclave Parkway in the Energy Corridor area on Houston’s west side. Owned by Atlanta-based Piedmont Office Realty Trust (NYSE: PDM), the Class A property totals 312,564 square feet. The size of Schlumberger’s original footprint was not disclosed, but the new …

Marcus & Millichap Arranges Sale-Leaseback of 69,750 SF Industrial Asset in Metro Dallas

HUTCHINS, TEXAS — Marcus & Millichap has arranged the sale-leaseback of a 69,750-square-foot industrial asset in Hutchins, a southern suburb of Dallas. Adam Abushagur of Marcus & Millichap represented the seller/tenant, Bocks Board Packaging, which occupies the entirety of the space. Abushagur also procured the buyer, an undisclosed limited liability company. The property drew six offers within its first week on the

NAI Partners Brokers Sale of 30,000 SF Industrial Property, 20 Acres in Marion, Texas

MARION, TEXAS — NAI Partners has brokered the sale of a 30,000-square-foot industrial property located at 11820 W. Interstate 10 in Marion, about 30 miles northeast of San Antonio. The sale includes an additional 20 acres. Joshua Swank and Brett Lum of NAI Partners represented the seller, His Majesty Saint Adams, a San Antonio-based investment firm, in the transaction. The buyer was not

Hinerfeld Sells Two Industrial Facilities in Pennsylvania for Combined $1.9M

LUZERNE COUNTY, PA. — Hinerfeld Commercial Real Estate has sold two transportation-related industrial properties in Luzerne County for a combined $1.9 million. The first property is located at 137 Armstrong Road in the O’Hara Industrial Park in Pittston Township. NFI acquired the 10,700-square-foot property for $1.05 million. The second property, located at 90 Eugene Drive, features 31 cross-dock terminals as well as shops and offices. Saia Motor Freight Line LLC acquired the property for …

Fantini & Gorga Arranges $2.8M in Financing for Flex Building Near Worcester

SHREWSBURY, MASS. —  Fantini & Gorga has arranged $2.8 million in first mortgage financing for a 36,660-square-foot flex building located at 910 Boston Turnpike in Shrewsbury. The property is approximately six miles east of Worcester. Derek Coulombe and Lindsay Feig of Fantini & Gorga arranged the 15-year, fixed-rate financing on behalf of the undisclosed borrower through a life insurance company. The property was built in 1985 and is broken up into eight rental units with nine total …

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