FORT WORTH, TEXAS — Hillwood will develop two speculative industrial buildings totaling approximately 1.3 million square feet at its 26,000-acre AlllianceTexas development in Fort Worth. Alliance Center North 7 will offer 810,908 square feet in Fort Worth, and Alliance Northport 2 will total 459,762 square feet in Northlake. Both buildings are located in Denton County with direct access to Interstate 35 West. Hillwood will start construction on these new facilities in September, with completion scheduled for mid-2020. Both facilities will include 36-foot clear heights, cross-dock configuration, onsite trailer storage and adjacent land for expansion. In addition, the properties will offer proximity to Interstate 35, State Highway 114 and the ground hubs of FedEx and UPS.
HOUSTON — Newmark Knight Frank (NKF) has arranged a loan of an undisclosed amount for the refinancing of Enterprise Park and Town & Country Center, two industrial properties totaling 221,763 square feet in Houston. Enterprise Park is located on the city’s southwest side and spans 153,835 square feet across 14 buildings. Town & Country Center is located on the city’s west side and comprises 67,928 square feet across three buildings. Spencer Hough and Tip Strickland of NKF arranged the financing through Reinsurance Group of America Inc. on behalf of private investor CPM Holdings LLC. The transaction was executed via a 1031 exchange.
ADDISON, ILL. — Logistics Property Co. (LPC) has acquired a 15-acre infill site in Addison within DuPage County. LPC plans to develop two industrial facilities totaling 274,855 square feet. Known as Swift & Lake, the site is situated on the southeast corner of Swift Road and Lake Street. Construction will commence immediately with delivery slated for the second quarter of 2020. Doug Pilcher of Cushman & Wakefield will market the properties for lease.
DEARBORN, MICH. — Reichle Klein Group has arranged the sale of a 57,846-square-foot industrial building in Dearborn for $1.3 million. The manufacturing facility sits on 3.5 acres at 6340 Miller Road. Lynette Reichle and Wyen Koan of Reichle Klein Group represented the seller, Nopac LLC. Hussein Bazzi of Real Estate One represented the buyer, Dearborn-based Dabazzi Properties LLC.
AUSTIN, TEXAS — JLL has negotiated the sale of Research Park, a 1.1 million-square-foot office and industrial campus located within Austin’s Silicon Hills neighborhood. The sale included approximately 95 acres of undeveloped land on the city’s northwest side. Originally part of a 466-acre tract owned by Texas Instruments, Research Park includes 1 million square feet of manufacturing space that is leased to a subsidiary of Flex Ltd., a global electronics manufacturing firm. JLL marketed the property on behalf of the seller, Equity Commonwealth. Parmer Innovation Centers, an affiliate of Los Angeles-based Karlin Real Estate, purchased the assets.
PHOENIX — Westcore Properties has purchased a newly built industrial building, located at 8001 W. Buckeye Road in southwest Phoenix. A joint venture between Phoenix-based Wentworth Property Co. and a private real estate fund managed by Dallas-based Crow Holdings Capital sold the property for an undisclosed price. The cross-dock building features 379,828 square feet of Class A industrial space, ESFR sprinklers, 60-foot speed bays, 36-foot clear heights and ample dock-high loading. Additionally, the site features all-concrete truck yards, trailer parking, multiple ingress and egress points and proximity to Phoenix’s main east-west transportation, I-10 and the soon-to-be-completed Loop 202. Westcore plans to immediately build out approximately 3,800 square feet of office space within the building shell, paint the interior warehouse walls and install various warehouse improvements to allow for immediate occupancy. The building can be configured for a single tenant or up to three tenants. Will Strong of Cushman & Wakefield represented the seller, while Westcore was self-represented in the deal. Mike Haenel, Andy Markham and Phil Haenel of Cushman & Wakefield will handle the leasing on behalf of Westcore.
CHICAGO — Meridian Design Build has broken ground on a 358,879-square-foot speculative industrial building on behalf of NorthPoint Development in Chicago. The new facility will be situated on a 31.1-acre site at 12144 S. Ave. O on the city’s southeast side. Plans call for a clear height of 36 feet, four drive-in doors, 257 auto parking stalls, 106 trailer parking stalls and up to 92 loading docks. The project will be the first building in NorthPoint’s 200-acre Avenue O Industrial Park, a 2.3 million-square-foot master-planned development. The site was previously home to the Republic Steel mill. The project team includes StudioNorth Architecture and Jacob & Hefner Associates.
NORTH CANTON, OHIO — Stan Johnson Co. has brokered the sale of a newly constructed, 107,500-square-foot industrial building in North Canton, a suburb of Cleveland. The sales price was not disclosed. ComDoc, a subsidiary of Xerox, fully leases the property as its corporate headquarters. The build-to-suit is located at 8247 Pittsburg Ave. NW. Rob Gemerchak, Jeff Hughes and Jeff McKinney of Stan Johnson represented the seller, Industrial Commercial Properties LLC. A subsidiary of Global Net Lease, an institutional investor based in New York, purchased the building.
GLASGOW, KY. — Marcus & Millichap has negotiated the sale of Glasgow Self Storage, a 66,075-square-foot, 452-unit self-storage facility in Glasgow. The facility was built in 2010 at 908 Happy Valley Road. Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller and procured the buyer in the transaction. The buyer and seller were both undisclosed limited liability companies. Colby Haugness of Marcus & Millichap, the broker of record, assisted the team in the transaction. The sales price was not disclosed.
MEDLEY, FLA. — BRW Floors Inc. has sold a 69,834-square-foot industrial warehouse in Medley for $9.7 million. The facility includes 7,000 square feet of office space, 15 dock doors with room to add more, 24-foot ceilings and a 120-foot fenced and secured truck court. The warehouse is located at 12800 N.W. South River Drive, about 15 miles northwest of downtown Miami and next to U.S. Highway 27. Nick Wigoda and Steve Medwin of Newmark Knight Frank represented both the seller and the buyer, Denver-based Black Creek Group, in the transaction.