MIAMI — Terreno Realty Corp. has sold an industrial property in Miami to an undisclosed buyer for $4.3 million. The property consists of one light industrial building totaling approximately 25,000 square feet on 1.2 acres, which was fully leased at the time of the sale to one tenant on a short-term basis.
WILMINGTON, DEL. — Harvey Hanna & Associates and partner Boxwood Industrial Park LLC have begun the redevelopment of a former General Motors plant in Wilmington. The demolition of the 3 million-square-foot property is the first step of the redevelopment into a business and distribution campus. The project will include 3 million square feet of commercial space spread across four buildings. The demolition of the former plant is expected to take 10 to 12 months, with a significant amount of materials to be reclaimed and recycled. The new campus is expected to create more than 2,100 permanent jobs in logistics, distribution, engineering and transportation. The plant was one of dozens of properties surrendered by General Motors Co. as part of its 2009 bankruptcy.
RICHARDSON, TEXAS — Dallas-based KDC will develop a 130,000-square-foot powered shell data center within Richardson’s Telecom Corridor in metro Dallas. The project, which is slated for completion by summer 2019, will be KDC’s fifth ground-up data center development in Richardson. The center will feature more than 20 network fiber carriers and an onsite substation for robust power and short electrical feeder runs. Alliance Architects is designing the project and Kimley Horn is the civil engineer.
HOUSTON — Central Southwest Texas Development LLC (CSW) will develop a 1,311-unit self-storage facility at 10411 Westheimer Road in Houston’s Westchase neighborhood. The five-story, 132,350-square-foot property will be located in a neighborhood that features an average annual household income of about $91,000 within a three-mile radius. Griffin Guthneck and C.W. Sheehan of JLL arranged an undisclosed amount of floating-rate construction financing for the project on behalf of CSW. The lender was not disclosed. A timeline for construction has not yet been determined.
IRVING, TEXAS — Badger Paperboard Texas, a custom paperboard converter specializing in packaging and shipping materials, has signed a 38,828-square-foot industrial lease at 3701 S. 20th Ave. in Irving. The new space is situated within International Logistics Center at Dallas-Fort Worth (DFW) International Airport. Blake Kendrick, Cannon Green and Sarah Ozanne of Stream Realty Partners represented the landlord, Cabot Properties, in the lease negotiations. CBRE represented the tenant.
CORPUS CHRISTI, TEXAS — The Port of Corpus Christi has secured $59 million in funding from the U.S. Army Corps. of Engineers for its channel improvement project, which is valued at $360 million. The funds will be used to widen and deepen the waterways as the port anticipates handling between 2 to 3 million barrels of crude oil per day in the coming months. The federal government is covering a total of $230 million of the project costs.
TEMPLE, TEXAS — Battery producer East Penn Manufacturing Co. will expand its distribution center in the north central Texas city of Temple. The project, which will create 266 new jobs, will deliver a new facility, bringing the company’s total capital investment in the market to $106 million. The expanded facility will be situated within a 305-acre industrial park in northwest Temple, with construction slated to begin next fall, according to tdtnews.com.
MONROE, OHIO — The Kroger Co. and Ocado, an online grocery retailer, have selected Monroe, Ohio, for the partnership’s first customer fulfillment center in the U.S. Subject to securing state and local incentives, Kroger’s first customer fulfillment center will consist of an automated warehouse facility with digital and robotic capabilities. Kroger is investing $55 million to build the first facility, which will span 335,000 square feet and is expected to generate more than 410 jobs. The company plans to open 20 such developments.
CARTERSVILLE, GA. — Georgia Gov. Nathan Deal announced that Toyo Tire North America Manufacturing Inc. will invest $138 million to complete a two-phase expansion at its campus in Cartersville. Upon completion of the new 254,000-square-foot facility, manufacturer’s campus will house 2,100 employees. The new positions will include production, support and administration with an annual production capacity of 2.4 million passenger vehicle tires. In 2016, Toyo Tire North America Manufacturing Inc. became the Toyo Tire Group’s largest manufacturing operation with an annual production capacity of 11.5 million tires. Toyo Tire began operations in Cartersville in 2006.
SPARTANBURG, S.C. — GSP North America Co. Inc. has leased 115,764 square feet of industrial space in Spartanburg, located at 2725 New Cut Road, about 29 miles northeast of BMW’s American headquarters. GSP specializes in distributing and providing auto parts. Brian Young, Elliott Fayssoux and Kacie Jackson of Cushman & Wakefield | Thalhimer represented the landlord, Becknell Industrial, in the transaction. Brockton Hall, Garrett Scott and John Montgomery of Colliers International represented the tenant.