GOODLETTSVILLE, TENN. — Brennan Investment Group has acquired two newly constructed distribution facilities located at 1022-1024 Louisville Highway in Goodlettsville, a northern suburb of Nashville. The seller and sales price were not disclosed. Built in 2024, the properties are situated within one mile of I-65 and span a combined 225,000 square feet. The two rear-load properties, which include a 123,000- and 102,000-square-foot building, are currently 30 percent leased to three tenants and include 30-foot clear heights, dock doors and ESFR sprinkler systems.
PHOENIX — On behalf of Merit Partners, Phoenix-based Stevens-Leinweber Construction (SLC) has completed the construction of Merit 27 Buckeye, an industrial infill redevelopment in Phoenix’s 27th Avenue Corridor. The development team transformed a former and vacant Murphy Elementary School District campus into a modern, two-building industrial property totaling 256,813 square feet. The property is situated on 18 acres at the southeast corner of 27th Avenue and Buckeye Road. Merit 27 Buckeye features a 191,227-square-foot Building A at 1515 S. 27th Ave. and a 65,586-square-foot Building B at 2675 W. Buckeye Road. The buildings offers 32- to 36-foot clear heights, 59 total dock-high and eight total drive-in doors, ESFR sprinklers and secure auto and truck parking. Energy-efficient features include LED lighting, R-38 and R-11 insulation, exterior canopies for heat mitigation and clerestory windows to increase natural interior light. Daikin fully occupies Building A, and Mazak, Reliable Garage Doors, Hajoca and Impilo Inc. occupy Building B. The project team included SLC as general contractor, and Butler Design Group served as architect. Jackie Orcutt, John Werstler, Cooper Fratt and Jonathan Teeter of CBRE are handling leasing for Merit 27 Buckeye.
By Taylor Williams Nobody likes a vacant building, but symbolically, they do have some usefulness. A handful of empty structures here and there can be illustrative of a market that’s actually balanced and healthy, one in which tenants have some options and flexibility. In addition, vacant buildings can serve as warnings to future developers of what not to do and when not to do it. Attaching this allegorical significance to the New Jersey industrial market might seem odd, given that this sector has been and should continue to be one of the strongest segments in the country, in terms of both the geography and the asset class. The residential density, highly developed infrastructure and proximity to major ports and transit hubs will likely never lose their appeal to industrial investors and developers. But even the strongest markets can overheat from time to time, and it typically takes a couple years for the high to completely wear off such that indicators of market normalcy can become readily visible. That’s what appears to be taking shape throughout the Garden State’s industrial market. And without naming names or picking on specific projects, sources say that there are undoubtedly some buildings in New Jersey …
LANCASTER, TEXAS — Self-storage brokerage firm Versal has arranged the sale of a 265-unit facility in Lancaster, a southern suburb of Dallas. Lasoto Self Storage was built in the 1980s and spans 44,940 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller and procured the buyer in the transaction. Both parties were Texas-based entities that requested anonymity. The sales price was also not disclosed.
ANAHEIM, CALIF. — Western Realco has purchased a fully entitled, 12.1-acre industrial site on East Vermont Avenue in Anaheim from Rexford Industrial for $40.7 million. The buyer will immediately begin demolition and construction to develop a 256,046-square-foot Class A industrial building. Completion is slated for late 2027. The new industrial building will feature a clear height of 36 feet, 39 dock-high doors, an ESFR sprinkler system, 4,000 amps of power and a fully enclosed truck court. Zach Niles, Louis Tomaselli and Steve Wagner of JLL represented the seller and buyer in the deal. Additionally, JLL was retained to market the new development for lease.
FLOWER MOUND, TEXAS — Lee & Associates has brokered the sale of a 64,406-square-foot industrial building in Flower Mound, located in the northern-central part of the metroplex. According to LoopNet Inc., the building at 500 Gerault Road was constructed in 2025 and features 32-foot clear heights. Adam Graham, Alex Wilson and Tomas Wilson of Lee & Associates represented the seller in the transaction. Bill de la Chapelle and Karla Orozco of eXp Commercial represented the buyer. Both parties requested anonymity.
INDIANAPOLIS — Greenstone Partners has brokered the $4.8 million sale of a 60,000-square-foot shallow-bay industrial property located at 450 S. Kitley Ave. on the east side of Indianapolis. The two-tenant building is fully leased. Jason St. John of Greenstone represented the seller and procured the buyer, which closed the transaction 30 days after execution of the purchase and sale agreement. Both tenants are operating below prevailing market rents, providing a future revenue growth path upon lease rollover, according to Greenstone.
NORTH BERGEN, N.J. — Safely Store has purchased a self-storage redevelopment site in North Bergen, located across the Hudson River from New York City. The site at 3131 Kennedy Blvd. houses a vacant, 73,398-square-foot building that was originally constructed in 1999 and previously functioned as a movie theater. Safely Store plans to convert the building into a four story self-storage facility with 103,000 net rentable square feet of climate-controlled space. Jose Cruz, Nicholas Stefans, Jason Lundy and Luke Ceccoli of JLL represented the seller, Madison International Realty, in the transaction.
The Upstate South Carolina industrial market is at an inflection point — an expected condition in a maturing and evolving market. Similar transitions have occurred in prior cycles and have consistently required lease rates to adjust more rapidly than traditional annual market escalations. These adjustments are driven by a combination of factors, including supply and demand dynamics, construction costs, capital markets and broader economic conditions. Currently, construction costs are the primary constraint impacting new deliveries. The post-COVID development surge resulted in over 30 million square feet of speculative industrial construction, a portion of which has yet to be fully absorbed. Today, we are approaching pre-COVID metrics with roughly 6.4 million square feet of speculative inventory (delivered or under construction) and an overall vacancy rate of approximately 7.3 percent. At this level, certain submarkets are at the point where additional speculative inventory will be required to meet tenant demand. The challenge lies in pricing. Much of the existing vacant space was delivered under a materially different construction cost structure, resulting in lease comps that do not reflect today’s construction and land costs. While incremental rent growth has occurred, it has not fully bridged the gap between legacy pricing and the economics …
LA PORTE, TEXAS — Prologis has broken ground on a 229,227-square-foot industrial project in La Porte, an eastern suburb of Houston. The project will add two buildings totaling 120,013 and 109,214 square feet to Port Crossing Commerce Center, bringing the development’s total footprint to approximately 2.7 million square feet across 11 buildings. The buildings will be situated on a combined 17 acres with frontage along State Highway 146. Construction is expected to be complete before the end of the year.
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