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Industrial

IndustrialMarket ReportsSoutheastSoutheast Market ReportsTennessee

Nashville’s Industrial Market: A Powerhouse Fueled by Demand, Strategic Growth

by John Nelson

Nashville’s industrial real estate market closed 2024 with a clear message: this metro is a logistics juggernaut, blending robust demand, strategic location and a dynamic investment landscape. With a vacancy rate ticking up to 4.1 percent in the fourth quarter amid new supply, yet absorption exceeding 4.2 million square feet year-to-date, the market’s resilience stands out.  Rents climbed to $9.94 per square foot, and industrial sales topped $1.4 billion — a 37 percent surge year-over-year. The takeaway is unmistakable for stakeholders: Nashville’s industrial sector thrives on its ability to absorb growth while signaling new opportunities for 2025. Economic engines  Macro and local economic trends underpin this strength. Nationally, e-commerce sales hit $308.9 billion in fourth-quarter 2024, a 9.4 percent increase year-over-year, according to Commercial Edge. This uptick amplifies demand for warehouse and distribution space. Locally, Nashville’s job growth moderated to 0.9 percent in 2024, according to Oxford Economics, down from 3.2 percent in 2023. But industrial sectors shone in the report: manufacturing jobs grew 2.2 percent and trade, transportation and utilities grew by nearly 0.5 percent.  The Nashville Area Chamber of Commerce reported that 79 percent of 2024 business relocations and expansions involved industrial users, promising 3,309 new jobs. With …

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DevelopmentIndustrialTexas

Clay Development Breaks Ground on 538,720 SF Spec Industrial Project in Southeast Austin

by Taylor Williams

AUSTIN, TEXAS — Houston-based Clay Development & Construction has broken ground on Mustang Ridge Distribution Center I, a 538,720-square-foot speculative industrial project in southeast Austin. The site spans 27.7 acres at the corner of 6925 FM 1327 and U.S. Highway 183, just south of Austin-Bergstrom International Airport. Building features will include a cross-dock configuration, 36-foot clear heights, 65-foot loading bays, 130-foot truck court depths, 105 dock doors, four drive-in overhead doors, 138 trailer parking spaces and an ESFR sprinkler system. Colliers is the third-party leasing agent for Mustang Ridge Distribution Center, which is expected to be complete by the end of the year.

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AcquisitionsIndustrialTexas

Buchanan Capital Partners Acquires 196,523 SF Industrial Building in Hutto, Texas

by Taylor Williams

HUTTO, TEXAS — Locally based investment firm Buchanan Capital Partners has acquired a 196,523-square-foot industrial building in Hutto, a northern suburb of Austin. The building at 2100 Limmer Loop was completed earlier this year within the 1.5 million-square-foot Innovation Business Park and can support either a single or multiple tenants. Building features include 32-foot clear heights, 185-foot truck court depths, 52 dock doors, 2,350 square feet of office space and parking for 200 cars and 50 trailers. The seller was Titan Development, which owns Innovation Business Park.

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DevelopmentIndustrialTexas

Scannell Properties Begins Construction on 139,674 SF Cold Storage Facility in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Indianapolis-based developer Scannell Properties has begun construction on a 139,674-square-foot cold storage facility in Fort Worth. The facility will consist of 127,307 square feet of freezer space and 12,367 square feet of office space, with the capacity for 40,667 square feet of expansion. In addition, the facility will have 42-foot clear heights, 24 fully equipped dock doors, space for approximately 15,000 pallet positions and six flex rooms with temperatures that will range from -10 to 40 degrees Fahrenheit. CBRE is the leasing agent. Completion is slated for mid-2026.

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IndustrialLeasing ActivityTexas

Finial Group Negotiates 50,600 SF Industrial Lease Renewal in Northwest Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm Finial Group has negotiated a 50,600-square-foot industrial lease renewal in northwest Houston. The tenant is Book Trolls Management Inc., and the space is located at 9600 Bamboo Road. According to LoopNet Inc., the single-tenant property was built on 3.3 acres in 1977. Chase Tucker of Finial Group represented the undisclosed landlord in the lease negotiations.

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AcquisitionsIllinoisIndustrialMidwest

Marcus & Millichap Negotiates $5.8M Sale of Industrial Property in Wheeling, Illinois

by Kristin Harlow

WHEELING, ILL. — Marcus & Millichap has negotiated the $5.8 million sale of a 72,000-square-foot industrial property in the Chicago suburb of Wheeling. Built in 1990, the asset is situated on nearly 4 acres at 100 Chaddick Drive, four miles from a full I-294 interchange. Peter Doughty of Marcus & Millichap represented the seller, a private owner, and procured the buyer, a private out-of-state investor. The building provides immediate, stable cash flow but also offers a value-add opportunity, according to Doughty.

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IndustrialLeasing ActivityTexas

Holt Lunsford Negotiates 27,000 SF Industrial Lease in North Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 27,000-square-foot industrial lease in North Fort Worth. The tenant is lithium-ion battery provider NuEnergy Storage Technologies, and the space is located within Northern Crossing, a four-building development that features 24-foot clear heights. Matt Carthey with Holt Lunsford represented the landlord, GID, in the lease negotiations. Jeff Jackson of NAI Robert Lynn represented the tenant.

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AcquisitionsGeorgiaIndustrialSoutheast

JLL Arranges $116.5M Sale of 1.2 MSF Industrial Portfolio in Dalton, Georgia

by John Nelson

DALTON, GA. — JLL has arranged the $116.5 million sale of a nearly 1.2 million-square-foot industrial portfolio situated within Greenpoint Industrial Park in Dalton, a city in north Georgia near the Tennessee border. The portfolio includes 128 Innovation Drive, a 603,166-square-foot facility delivered in 2023, and 342 Innovation Drive, a 573,578-square-foot property delivered in January 2024. A joint venture between LX Pantos and KOBC (Korea Ocean Business Corp.) advised by IGIS Asset Management acquired the two facilities from the developer, Dossche Holdings. Dennis Mitchell, Britton Burdette, Jim Freeman and Maggie Dominguez of JLL represented the seller in the transaction, and Miyeon Lee of JLL’s International Capital Coverage team sourced the buyer. Austin Kriz, Tom Cromartie and Rachel Roberts of JLL were the leasing agents for both properties, which are situated near I-75 and the Appalachian Regional Port.

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AcquisitionsColoradoIndustrialWestern

Owners Exchange Two Northern Colorado Industrial Assets for $19.1M

by Amy Works

WINDSOR AND LOVELAND, COLO. — Two owners have sold two industrial properties to each other for a total consideration of $19.1 million. Cushman & Wakefield’s Jason Ells represented Schlosser Signs Inc., while Cole Herk of Cushman & Wakefield represented Bar S U in the acquisition and disposition transactions. Schlosser Signs Inc., an owner and user, acquired 31815 Great Western Drive in Windsor from Bar S U for $14.2 million, while Bar S U, an investor, purchased 3505 Draft House Court in Loveland from Schlosser Signs for $5.2 million. Schlosser Signs plans to relocate to the 100,000-square-foot Class A industrial facility in Windsor. The property features 40-foot ceilings, overhead cranes, abundant power and enhanced production capacity enabling Schlosser Signs to take on larger, more complex signage projects. Bar S U’s new 20,500-square-foot property in Loveland features radiant heat, natural lighting, a 14-foot overhead door, 20- to 24-foot clear heights, open floor plans and outside storage.

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AcquisitionsIllinoisIndustrialKansasMichiganMidwest

Lineage to Acquire Four Tyson Foods Warehouses for $247M, Plans $1B Growth Pipeline

by Kristin Harlow

NOVI, MICH. — Lineage Inc. (NASDAQ: LINE), a Novi-based cold storage REIT, has entered into a definitive agreement to acquire four cold storage warehouses from Tyson Foods Inc. for $247 million. At or prior to closing the acquisition agreement, Lineage will enter into an additional, multi-year agreement under which it will design, build and operate two next-generation, fully automated cold storage warehouses in major U.S. distribution markets that Tyson will occupy as an anchor tenant. Under the same agreement, Tyson will begin storing product at Lineage’s newly developed property in Hazelton, Pa., which utilizes LinOS, Lineage’s proprietary warehouse execution technology. Lineage says it expects to deploy approximately $1 billion of capital over the coming years on the acquisitions and the new greenfield developments. The existing Tyson warehouses that sold in the transaction total roughly 49 million cubic feet and are located in Pottsville, Pa., Olathe, Kan., Rochelle, Ill. and Tolleson, Ariz. Following the acquisition, Lineage plans to onboard over 1,000 Tyson employees. Over time, the acquired warehouses will be transitioned to public warehouses as part of Lineage’s global footprint. The transaction is subject to customary closing conditions and is expected to close in the second quarter. Lineage expects to deploy …

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