MOUNTAIN VIEW, CALIF. — Google will invest approximately $40 billion in Texas data centers through 2027 as the Silicon Valley-based tech giant looks to expand its cloud and artificial intelligence (AI) infrastructure capabilities. Google CEO Sundar Pichai made the announcement on Nov. 14 via a LinkedIn post, stating that the investment would also include the development of three new data center campuses in Armstrong and Haskell counties. Google said that one of its new campuses in Haskell County, which is located roughly midway between Fort Worth and Lubbock, will be built alongside a new solar and battery storage plant. Google also said in the post that it plans to “train existing electrical workers and more than 1,700 apprentices in Texas by 2030, more than doubling the projected pipeline of new electricians in the state.” As part of the investment, Google has also committed to an initiative to “strengthen energy resilience and abundance, as well as [to] support community energy efficiency initiatives through a new $30 million Energy Impact Fund.” According to Data Center Dynamics, Google is also planning an expansion of its existing data center facilities in Ellis County, which is located south of Dallas and encompasses the city of …
DALLAS — Creation, a developer with offices in Dallas and Phoenix, and PGIM Real Estate have begun construction on 635 Exchange, a three-building, 600,000-square-foot industrial project in North Dallas. The 36-acre site at the intersection of interstates 35E and 635 formerly housed a City of Dallas landfill, and the new buildings will feature 32- to 36-foot clear heights. LGE Design Build is handling the architectural and general contracting aspects of the project. Stream Realty Partners has been tapped as the leasing agent. Completion is slated for late 2026.
CYPRESS, TEXAS — Deason Financial Group has arranged a $16.1 million permanent loan for the acquisition of Blackhorse Storage & Postal, a 552-unit self-storage facility located in the northwestern Houston metro of Cypress. The 14.2-acre facility spans 261,206 net rentable square feet across a variety of unit types. The loan was structured with a five-year term, fixed interest rate and a 25-year amortization schedule. Dave Knobler of Marcus & Millichap brokered the sale. The names of the direct lender and borrower were not disclosed.
ROCKVILLE CENTRE, N.Y. — Florida-based development and investment firm Basis Industrial has received a $27 million construction loan for a self-storage project that will be located in the Long Island community of Rockville Centre. Public Storage will operate the facility, which will comprise 121,500 gross square feet of space across 957 units. NexBank is the senior lender on the project, and NexPoint is the mezzanine lender. Construction is underway and is expected to be complete in early 2027.
TUCSON, ARIZ. — Lincoln Property Co. has completed I-10 International Phase I, the company’s first-ever ground-up industrial development in Tucson. Valued at $80 million, I-10 International Phase I sits on 79 acres at the southeast corner of Alvernon Way and Los Reales Road, two miles from an interchange at I-10 and Valencia Road, within the Tucson International Airport submarket. Totaling 373,811 square feet, the property includes the 158,944-square-foot Building B and the 214,867-square-foot Building C. A fully designed, 188,434-square-foot Building A and a 476,000-square-foot Building D will be developed in line with market demand, bringing the asset to more than 1 million square feet of Class A industrial space. Buildings at I-10 International Phase I are state-of-the-art cold capable with 32-foot clear heights, 14-foot glass entrances, full concrete truck courts, generous clerestory windows and an R-38 insulated roof deck system. The project team includes Brinkmann Constructors as general contractor and Butler Design Group and Ware Malcomb as the collaborative design team. Jesse Blum of Cushman & Wakefield | PICOR is handling leasing for the project.
BELLINGHAM, MASS. — New England Appliance Group has signed a 124,000-square-foot industrial lease in Bellingham, located southwest of Boston. The independent retailer cooperative will occupy the entirety of the building at 206 Mechanic St. Locally based investment and development firm Marcus Partners owns the building. Both parties were self-represented in the lease negotiations.
DENVER — Malman Real Estate has arranged the sale of an industrial property located at 2173 S. Wabash St. in Denver. AB Investment sold the asset to United Properties Group for $1.3 million. Situated on a 28,096-square-foot lot, the property offers 2,040 square feet of flex space. Taylor Roy of Malman Real Estate represented the seller, while Ruzlan Shamaev of Brokers Guild Real Estate represented the buyer in the transaction.
ADDISON, ILL. — The Missner Group has sold an 80,464-square-foot industrial building located at 50 S. Fairbank St. in Addison. Missner developed the property in 2023 in partnership with Realterm. The building features a clear height of 32 feet, 13 exterior docks, two drive-in doors and 180 parking spaces. The property is leased to Midwest Solutions, Cytronic and PGW Autoglass.
Vulcan Elements Signs Full-Building Industrial Lease at CrossPoint Logistics Center in Metro Raleigh
BENSON, N.C. — Vulcan Elements, a rare earth magnet manufacturer, has signed a full-building lease at CrossPoint Logistics Center, a speculative industrial facility in the south Raleigh suburb of Benson. The developer, Edgewater Ventures, broke ground on the facility in 2022. Vulcan Elements plans to expand the current 501,215-square-foot facility to more than 1 million square feet and create 1,000 new jobs. CrossPoint Logistics Center is the largest speculative industrial facility ever constructed within the Raleigh-Durham MSA, according to Edgewater Ventures. Ed Brown of NAI Tri Properties and Anna Lea Stroud of A. Stroud & Co. represented Vulcan Elements in the lease transaction. Al Williams, Matthew Greer, Lee Allen and Diane Jones of JLL represented Edgewater Ventures.
SEGUIN, TEXAS — Ranch Hand will open a 400,000-square-foot manufacturing and distribution facility at TriPoint Logistics Center, a 120-acre development in Seguin, a northeastern suburb of San Antonio. The provider of automotive accessories has entered into a build-to-suit agreement with the developer, a partnership between Atlanta-based Ackerman & Co. and Baltisse US Inc. Ranch Hand plans to consolidate two regional facilities into the new distribution hub. The building will feature 36-foot clear heights and is expected to be complete in late 2026. Tom Walrich of Lee & Associates represented Ranch Hand in the lease negotiations. John Colglazier, Kyle Kennan and Gray Gilbert of Partners Real Estate represented ownership.
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