DALLAS — Holt Lunsford Commercial has negotiated a 13,440-square-foot industrial lease renewal at 10990 Petal St. in Dallas. Josh Barnes and Ben Wallace of Holt Lunsford represented the landlord, Rialto Capital Management, in the lease negotiations. The representative of the tenant, Ferguson Fire & Fabrication, was not disclosed.
RIALTO, CALIF. — Dermody Properties has acquired a 19-acre site in Rialto for the development of LogistiCenter at Rialto I. Terms of the transaction were not released. The 411,330-square-foot distribution facility will feature 36-foot clear heights, a 185-foot concrete truck court, 49 dock-high doors, 77 truck trailer spots and 245 auto parking stalls. Dermody Properties selected HPA as the architect and Fullmer Construction as the general contractor for the project. The company plans to begin construction soon on the property, with delivery slated for December. The facility is situated within Renaissance Rialto Business Park, which is home to Amazon, Target, Under Armour, Ozburn-Hessey Logistics, Niagara Bottling, Medlin Industries, Monster Energy, Distribution Alternatives and Lifetime Brands. Darla Longo and Barbara Perrier of CBRE represented all parties in the sale. Dan De La Paz, David Consani and Jim Koenig, also of CBRE, will be the leasing brokers for the project.
WARREN AND SOMERSET, N.J. — Cushman & Wakefield has arranged a $41 million acquisition loan for a 768,244-square-foot industrial portfolio in Warren and Somerset. The seven-property portfolio is comprised of three industrial buildings, two flex buildings and two office buildings. The properties include 7 Powder Horn Drive, 30 Technology Drive, 40 Technology Drive and 45 Technology Drive in Warren as well as 1 Riverview Drive, 50 Randolph Road and 100 Randolph Road in Somerset. John Alascio, Sridhar Vankayala and Zachary Kraft of Cushman & Wakefield represented the borrower, Ivy Realty, in the transaction. BBVA Compass provided the loan.
COLLIERVILLE, TENN. — Sealy & Co. has acquired a 124,800-square-foot distribution center in Collierville. The asset, located at 500 Distribution Parkway, is situated on seven acres about 30 miles east of downtown Memphis. The property features a rear-load configuration and 22 dock doors. Jason Gandy and Scott Sealy Jr. of Dallas-based Sealy worked with Hank Martin of NAI Saig Co. in arranging the sale. The sales price and seller were not disclosed.
DETROIT — Fiat Chrysler Automobiles (FCA) plans to invest a total of $4.5 billion in five of its existing Michigan plants as well as build a new assembly plant within the city of Detroit. The move would increase capacity to meet growing demand for the automobile manufacturer’s Jeep and Ram brands, including production of two new Jeep-branded white space products as well as electric models. The proposed projects would create nearly 6,500 new jobs. In response to a shift in consumer demand toward SUVs and trucks, the company in 2016 began discontinuing compact car production and retooled plants in Illinois, Ohio and Michigan to make full use of available capacity to expand the Jeep and Ram brands. Those actions have resulted in the recent launches of the all-new Jeep Wrangler, Ram 1500 and the introduction of the Jeep Gladiator. FCA would invest $1.6 billion to convert two plants that comprise the Mack Avenue Engine Complex into the future assembly site for the next-generation Jeep Grand Cherokee, as well as a three-row Jeep SUV and plug-in hybrid models. FCA plans to start construction of the new Detroit facility by the end of the second quarter. The first three-row vehicles are expected …
AURORA, ILL. — The Pizzuti Companies, and its partner Molto Properties, has unveiled plans to develop a 274,000-square-foot speculative industrial building in Aurora. The property will be situated on 16 acres on Mitchell Road. The project will feature a clear height of 32 feet, 52 loading docks, 49 trailer spaces, 238 car parking spaces and LED lighting. Construction is scheduled to begin this spring, with completion slated for the third quarter. David Prell and Jeff Kapcheck of CBRE will handle leasing for the property.
ROCHESTER HILLS, MICH. — Signature Associates has arranged the sale of a 28,817-square-foot industrial building located at 1837 Enterprise Drive in Rochester Hills. Kris Pawlowski and Paul Hoge of Signature Associates represented the buyer, 1837 Enterprise LLC. This is the third location for the buyer, which sells small prosthetics and medical compression socks. The seller was not disclosed.
BERKELEY COUNTY, S.C. — A joint venture between Randolph Development, Portside Investment Group and Synergy Capital will break ground on Portside Distribution Center in Berkeley County, about 24 miles northwest of downtown Charleston. Frampton Construction will build the two-building campus over the next two years. Construction on the first building will begin March 1, and each asset will feature 32-foot clear heights and load-bearing concrete tilt walls. McMillan Pazdan Smith designed the first building, which will span 189,500 square feet. It is expected to house multiple tenants when complete. A timeline for construction of the second building was not released.
ANDERSON, S.C. — CM Knight Logistics has acquired the former LaFrance Industries manufacturing facility and rebranded the asset as Anderson Industrial & Logistics Pointe. The 405,000-square-foot building sits on 45 acres in Anderson. Mauldin, S.C-based Mount Vernon Mills, the parent company of LaFrance Industries, sold the property. LaFrance Industries has leased back 120,000 square feet of space, making 288,000 square feet of space available.
MIAMI — NAI Miami has negotiated an 88,011-square-foot industrial lease on behalf of Senator International Freight Forwarding LLC at 10505 N.W. 112th Ave. in Miami. The facility is situated about 20 miles west of downtown Miami. Devin White of CBRE represented the landlord, FS Building 30 LLC, in the lease transaction. Senator International Freight Forwarding specializes in international shipping and logistics with a focus on air and sea freight, as well as on logistics, packaging and customs services.