HOUSTON — Wilson Investment Properties, a Silicon Valley-based investment firm, has acquired a portfolio of 19 industrial properties totaling approximately 460,000 square feet in northwest Houston. The properties are situated within six different industrial parks and are leased to a total of 103 tenants, including users in the manufacturing and fabrication services. The seller was not disclosed.
CHICAGO — Meridian Design Build has completed construction of a 75,000-square-foot industrial build-to-suit for Banner Wholesale Grocers in Chicago. The new facility is located on the north bank of the Chicago River at 2639 S. Damen Ave. The property features a clear height of 36 feet, LED lighting, a fully air-conditioned sales floor, freezer space, eight loading docks and a covered van platform with 16 loading positions. Banner Wholesale Grocers has been servicing independent grocers since 1926. Schmidt Design Inc. provided architectural services while Kimley-Horn performed civil engineering work. Baker Development Corp. was the developer.
BENSENVILLE, ILL. — Lee & Associates has negotiated the $5 million sale of a 73,594-square-foot industrial building in Bensenville, about 20 miles northwest of Chicago. The multi-tenant property is located at 100-300 Devon Ave. At the time of sale, the property was 97 percent leased to 16 tenants. Jay Farnam and Terry Grapenthin of Lee & Associates represented the seller, VJW Investments LLC. A private buyer purchased the asset.
MENOMONEE FALLS, WIS. — Founders 3 Real Estate Services has arranged the $2.8 million sale of Shenandoah Center in Menomonee Falls, about 20 miles northwest of Milwaukee. The 46,727-square-foot flex industrial facility is located on Whittaker Way. Ned Purtell and Paul McBride of Founders 3 represented the seller, Burke Business Park LLC. BW Management LLC was the buyer.
SANTA FE SPRINGS, CALIF. — Realty Advisory Group has arranged the sale of an industrial property, located at 9601-9603 John St. in Santa Fe Springs. An undisclosed buyer acquired the property for $24.8 million. Situated in the Mid Counties submarket, the 181,070-square-foot property features 22-foot to 28-foot ceilings, 16 dock-high positions and future divisibility. At the time of sale, the property was fully leased to Windsor Fashions. John Repstad and Mark Repstad of Realty Advisory Group represented the buyer and the undisclosed seller in the transaction.
HOUSTON — Full-service real estate firm United Equities Inc. will develop a two-building, 83,500-square-foot industrial project in Houston. Built on a speculative basis, the project will be situated on a seven-acre tract within the 115-acre Satsuma Station Industrial Park in northwest Houston. Travis Land of NAI Partners represented United Equities in its acquisition of the land from an affiliate of Pinpoint Commercial, which developed the park.
RICHMOND, VA. — Becknell Industrial has acquired a 60-acre parcel of land along Laburnum Avenue and Seven Hills Boulevard in Richmond with plans to construct a four-building industrial campus. The 805,190-square-foot development, located roughly two miles from Richmond International Airport, will be known as Airport Logistics Center. The first phase of the project will include a 246,760-square-foot concrete building with 32-foot clear heights, LED lighting with motion sensors, an ESFR sprinkler system, multiple drive-in doors, trailer parking with 135-foot court depths and a 60-foot loading bay. Becknell expects to wrap up construction on the first building in spring 2019. Cliff Porter of Porter Realty Co. will manage the industrial park and handle the property’s leasing assignment.
FLORENCE, KY. — The Kroger Co. plans to invest $17 million to expand its newly built distribution center on Mt. Zion Road in Florence, a city in northern Kentucky’s Boone County. The 674,000-square-foot facility, which opened in fall 2017 after Kroger’s $60 million investment, currently employs 80 associates. The expansion project will ramp up production at the facility and create 250 new jobs, the majority of which will be full-time positions. The project is supported by a Kentucky Business Investment incentive of up to $1 million over 10 years. The company’s annual eligibility for the performance-based tax credit is linked to investment, job creation and retention and average hourly wage targets. Kroger will start to expand its team for the distribution facility in September. The grocer currently employs more than 21,000 people in Kentucky.
PHOENIX — Prologis has selected Graycor Construction Co. for the first phase of its new Prologis I-17 Logistics Center, located on 25 acres of infill space within Phoenix’s 7th Street Corridor. When complete, the first phase will comprise four buildings offering a total of 558,712 square feet of industrial space, divisible from 25,000 square feet to 211,000 square feet. The project is located at 2111-2145 S. 7th St. at the southeast corner of 7th Street and Interstate 17. Graycor will begin construction of the first phase in July, with completion slated for the first quarter of 2019. Phase I will feature four buildings ranging in size from 82,284 square feet to 211,208 square feet. Each building will offer 32-foot clear heights, 52-foot by 50-foot column spacing, 135-foot to 210-foot truck courts and the flexibility to accommodate multiple mid-size users.
EDWARDSVILLE, ILL. —TriStar Properties is developing a $115 million industrial campus for World Wide Technology (WWT) at Gateway Commerce Center in Edwardsville, just northeast of St. Louis. The 176-acre build-to-suit will include two buildings totaling 2 million square feet. St. Louis-based WWT is an international technology provider with 4,600 employees in more than 70 offices worldwide. WWT plans to use one building for the production and assembly of technology equipment. The other will be used for storage and distribution. The buildings are slated for completion in April and August 2019. The buildings will feature a clear height of 36 feet in addition to dock doors and truck courts. Contegra Construction is the general contractor. PCCP is TriStar’s equity partner in the deal.