PILOT POINT, TEXAS — NAI Robert Lynn has brokered the sale of a 35,570-square-foot industrial building in Pilot Point, located north of Dallas in Denton County. According to LoopNet Inc., the building at 926 U.S. Highway 377 was built on 3.7 acres in 1983. Jim Hancock of NAI Robert Lynn represented the seller, an entity doing business as TyGra Realty LLC, in the transaction. Michelle Hudson and Tom Hudson of Hudson Peters Commercial represented the undisclosed buyer.
SINGAPORE AND NEW YORK CITY — Mapletree Investments Pte Ltd., a global real estate investment and management firm based in Singapore, has sold a 1.8 million-square-foot industrial portfolio to New York City-based Faropoint for $328 million. The transaction represents Faropoint’s largest acquisition to date and Mapletree’s first major U.S. warehouse disposition. The portfolio, which Mapletree held under a closed-end private fund launched in 2019, comprises 30 shallow-bay warehouse buildings spread across Florida (14), Georgia (7), New Jersey (5), Texas (3) and Pennsylvania (1). John Huguenard and Trent Agnew of JLL represented Mapletree in the transaction. Mapletree has owned and managed more than 70 million square feet of industrial assets in the United States since entering the country in 2014.
RALEIGH, N.C. — Town Lane, a newly formed real estate management firm based in New York City, has acquired a 2.7 million-square-foot portfolio of infill, shallow-bay industrial facilities spread across six individual parks in the Raleigh-Durham region. Corebridge Real Estate Investors and Equus Capital Partners sold the portfolio, which includes nearly 40 acres at three of the parks that is available for future development. The sales price was not disclosed, but multiple media outlets report the portfolio traded for $261 million. Simpson Thacher & Bartlett LLP served as legal counsel to Town Lane, while Goodwin Proctor represented Corebridge and Equus. Eastdil Secured brokered the sale. Equus will retain a minority stake in the portfolio and its affiliate, BPG Management, will continue to operate the parks. The previous ownership executed more than 2 million square feet of new, expanded and renewed leases at the portfolio over the past four years, according to Corebridge.
HOGANSVILLE, GA. — Atlanta-based Seefried Industrial Properties plans to develop a 1.6 million-square-foot “sortation” center in Hogansville, roughly 55 miles southwest of Atlanta in Troup County, for e-commerce giant Amazon. KBC Advisors represented Seefried in the land purchase. Set to open in 2027, the facility will serve as Amazon’s third sortation center in Georgia. The property will be located along Ga. Highway 54/East Main Street near Bass Cross Road and I-85. Amazon employees will sort orders by final destination and consolidate them onto trucks for delivery. Employees will also work alongside robotics and other innovative technology in the process. The design-build team includes general contractor The Conlan Co., architect AECOM and civil engineer Eberly & Associates.
LINCOLN PARK, N.J. — JLL has secured the refinancing of two industrial buildings totaling 143,265 square feet in the Northern New Jersey community of Lincoln Park. The buildings were both constructed in 1985, feature clear heights of 22 feet and were fully leased at the time of sale of a combined 10 tenants. Michael Klein, Ryan Carroll and Tyler Caricato of JLL arranged the 10-year, fixed-rate loan on behalf of the borrower, The Frassetto Cos. The loan amount and direct lender were not disclosed.
FLEMINGTON, N.J. — Locally based developer Larken Associates has delivered Flemington Junction Business Center II, a 50,000-square-foot industrial flex project located about 60 miles southwest of Manhattan. The building features a clear height of 32 feet, and units can be subdivided to spaces as small as 3,125 square feet. Core Enterprises provided construction management services for the project, construction of which began last summer.
WEST HAVEN, UTAH — ACD, a Denver-based commercial real estate investment firm operating a portfolio of self-storage assets, has acquired a self-storage facility in West Haven from a local development company for an undisclosed price. ACD will assume management of the 46,700-square-foot property under its in-house brand, BriteLock Storage. The asset is currently managed by Extra Space. Built in 2020 on 2.6 acres, the property consists of nine single-story self-storage buildings with 250 drive-up units and 176 climate-controlled units. Amenities include a gated entry with digital keypad, a separate onsite management office in front of the entrance gate, 24/7 video surveillance, asphalt driveways and units with roll-up doors. Jordan Farrer and Adam Schlosser of the LeClaire-Schlosser Group of Marcus & Millichap represented the seller and procured the buyer in deal.
CHICAGO — Chicago-based JLL Capital Markets has arranged $252.5 million in financing for the Lower Terra Industrial Portfolio, a collection of 21 light industrial properties totaling 3.6 million square feet across 17 markets in the U.S. Lucas Borges, Matthew Schoenfeldt and Tara Hagerty of JLL represented the borrowers, Brennan Investment Group and Farallon Capital, to secure the five-year, floating-rate loan through affiliates of Apollo. Located across 13 states in the East, West, Central and Southeast regions, the portfolio is 98 percent leased to 16 tenants. The average tenant tenure is more than 30 years.
BENSENVILLE, ILL. — Axis Warehouse & Logistics has signed a 300,960-square-foot industrial lease renewal at 500 Country Club Drive in the Chicago suburb of Bensenville. The transaction represents the largest lease renewal in the O’Hare industrial market in the first half of 2025, according to Lee & Associates of Illinois. Jeff Galante of Lee & Associates represented the tenant, which is a third-party logistics provider that offers large-scale warehousing, transportation and global logistics services. The company occupies the entire property. Dominic Carbonari of JLL represented the owner, Link Logistics.
FORT BEND COUNTY, TEXAS — Crow Holdings Development is underway on construction of Phase I of Hightower Business Park, a six-building, 180-acre industrial development that will be located in Fort Bend County on the southwestern outskirts of Houston. Phase I will feature three buildings that will span 343,332, 228,954 and 163,930 square feet. Two of the buildings in Phase II will total 179,311 square feet, and the final structure will encompass 737,437 square feet. Construction of Phase I buildings, which will feature 36-foot clear heights and ample trailer parking, is slated for a mid-2026 completion. CBRE has been tapped as the leasing agent.