GREENWICH, N.J. — New Jersey-based Faropoint will develop a 73,800-square-foot industrial project in Greenwich, located on the Delaware Bay in Southern New Jersey. The site spans 9.2 acres along Swedesboro Road, and the facility will feature a clear height of 32 feet, two drive-in doors and an ESFR sprinkler system. Wendy Banscher of Fox & Roach represented the undisclosed sellers in the land deal, while Faropoint was self-represented. A construction timeline was not disclosed.
ORLANDO, FLA. — JLL has brokered the sale of a 513,560-square-foot industrial park located in Orlando’s Northwest Orange County submarket. LaSalle Investment Management purchased the property from an affiliate of PGIM Real Estate for an undisclosed price. Luis Castillo, Cody Brais and Taylor Osborne of JLL brokered the transaction. Built in 2018-2019, the five-building park represents Phase I of Princeton Oaks and was fully leased to 15 tenants at the time of sale. Justin Ruby and Joey Woodman of Foundry Commercial spearhead the leasing assignment at Princeton Oaks.
SALT LAKE CITY — Arizona-based ViaWest Group has completed the sale of a freestanding warehouse located at 3255 W. 500 South in Salt Lake City. A St. Louis-based private real estate investment firm acquired the asset for an undisclosed price. Built in 2016 on 2.2 acres, the property offers 40,709 square feet of single-tenant space, which is fully leased on a long-term basis to a provider and distributor of industrial and manufacturing products. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield represented the seller in the deal. Phillip Eilers and Jon Schreck of Cushman & Wakefield provided market leasing services.
DENVER — Unique Properties Inc./TCN Worldwide has brokered the sale of an industrial building located at 1301 S. Cherokee St. in Denver. The 11,102-square-foot property traded for $1.6 million, or $144 per square foot. The names of the seller and buyer were not released. Michael DeSantis, Brett MacDougall and Carson Lang of Unique Properties brokered the sale.
HEMLOCK, MICH. — The U.S. Department of Commerce has awarded Hemlock Semiconductor (HSC) up to $325 million in direct funding under the CHIPS Incentive Program’s Funding Opportunity for Commercial Fabrication Facilities. The funding will support the construction of a new manufacturing facility in Hemlock, about 65 miles north of Lansing. The project is expected to create approximately 180 manufacturing jobs and over 1,000 construction jobs. HSC is the only U.S.-owned manufacturer of hyper-pure polysilicon.
VIRGINIA BEACH, VA. — Cohen Investment Group has obtained a $51.5 million financing package for the refinancing of Castleton Commerce Center, a 470,618-square-foot industrial complex in Virginia Beach. Eastern Union arranged the financing through Bank of America, which refinanced a $58.2 million bridge loan that Eastern Union originated when Cohen Investment Group purchased the property in 2021. Castleton Commerce Center features 409 self-storage units, 375 warehouse units totaling nearly 330,000 rentable square feet and 190 boat and RV parking spaces.
CEDAR HILL, TEXAS —JLL has arranged an acquisition loan of an undisclosed amount for a 7.5-acre industrial outdoor storage (IOS) facility in Cedar Hill, located southwest of Dallas. Built in 2015, the facility houses a 15,023-square-foot service building with office space and was fully leased at the time of the loan closing to an undisclosed provider of traffic equipment and services. C.W. Sheehan, Kristi Leonard, Peyton Ackerman and Nate Henderson of JLL arranged the five-year, fixed-rate loan on behalf of the borrower, Apricus Realty Capital, which acquired the property via sale-leaseback. The direct lender was not disclosed.
HOUSTON — US ELogistics Service Corp., a New Jersey-based freight company, has signed a 302,825-square-foot industrial lease in Houston. The space is located within Constellation Post Oak, a two-building, 424,011-square-foot development in the Uptown area that features 32- to 36-foot clear heights. Zack Taylor and Barkley Peschel of Colliers represented the landlord, a partnership between Constellation Real Estate Partners and an affiliate of Crow Holdings Capital, in the lease negotiations. Robert McGee of Lee & Associates represented the tenant.
TEMPE, ARIZ. — A global investment manager and BKM have completed the sale of Tempe Commerce Park, a five-building industrial complex located at 7340-7360 S. Kyrene Road and 7333-7343 S. Hardy Drive in Tempe. Terms of the transaction were not released. Situated on 36.8 acres, Tempe Commerce Park features 536,122 square feet with 24-foot clear heights, dock-high and grade-level doors and ample parking. At the time of sale, the property was 92 percent leased to eight tenants, including McKesson, Genuine Cable Group and Rivian. Mark Detmer, Greer Olive and Connor Nebeker-Hay of JLL Capital Markets represented the seller in the deal. Jackie Orcutt and Jonathan Teeter of CBRE are handling local market leasing efforts for the property.
NORTH LAS VEGAS, NEV. — Avison Young has arranged the sale of Cartier Industrial Center, an industrial asset in North Las Vegas. A California-based private investor purchased the asset from a local development group for $17.3 million, or $232 per square foot. Located at 2635 Lamb Blvd., Cartier Industrial Center offers 74,700 square feet with eight dock-loading doors, two grade-level doors, a clear height of 30 feet and 81 parking spaces. The property was built in 2024. The single-tenant building is fully occupied by a beauty supply company. Chris Lexis, James Griffis and Joe Leavitt of Avison Young represented the buyer in the deal.
