DALLAS — Lee & Associates has arranged the lease of 81,255 square feet of industrial space at 2677 Northaven Road in Dallas. The property offers 28-foot ceiling clear heights, 18 dock-high loading doors and close proximity to the interchange of Interstates 635 and 35 East. Nathan Denton of Lee & Associates represented the landlord, GTI Management Co., in the negotiations. Tim Vogds with CBRE represented the tenant, Logistics Plus.
HOUSTON — Cassidy Turley has arranged the lease of 225 RailPort, a 600,000-square-foot build-to-suit distribution complex soon to break ground in Houston’s Port submarket, for Frontier Logistics. Developer Avera plans to begin construction in November and expects to complete the facility, located at Beltway 8 and State Highway 225, in the third quarter of 2014. With 20,000 linear feet of rail access, the complex will serve Frontiers’ clients in the plastics industry. John Nicholson of Cassidy Turley represented the tenant in the lease negotiations.
HOUSTON — Thomas Properties Group Inc. has signed Statoil Gulf Services LLC, the U.S. subsidiary of Norwegian energy company Statoil ASA, to a long-term lease for 581,000 square feet at the CityWestPlace campus in Houston’s Westchase District. Statoil, which previously occupied 225,000 square feet at CityWestPlace, will now occupy all 431,000 square feet of the complex’s Building 2 and 150,000 square feet of Building 4. The location will serve as the Statoil’s North American headquarters. Chip Colvill, Clark Thompson, Win Haggard Jr. and Michael Anderson of Colvill Office Properties represented landlord Thomas in the negotiations. Mark O’Donnell of Studley Inc. represented Statoil.
MILWAUKEE, PEWAUKEE, FRANKLIN, WIS. — Clarion Partners has sold its five-building industrial portfolio in southeast Wisconsin totaling 422,950 square feet for $20.5 million. Minneapolis-based Biynah Industrial Partners LLC was the buyer. The buildings are located in Pewaukee, Franklin and Milwaukee. Tom Shepherd, Mike Fardy and Jim Larkin of Colliers International represented the seller in the transaction and Colliers was the sole broker in the transaction. In April 2012, Clarion sold four industrial buildings totaling 607,000 square feet in Wisconsin. With both portfolio sales, Clarion has sold all of its holdings and has officially exited the Wisconsin industrial market.
SHAKOPEE, MINN. — The Opus Group has started construction on an approximately 200,000-square-foot speculative industrial warehouse and distribution facility in suburban Minneapolis. Located near Highway 169 and Highway 101, the development marks the start of Phase I at the future Valley Park Business Center. The building will feature 32-foot clear ceiling heights, 37 dock doors, two drive-in doors and approximately 160 parking spaces. The facility is slated for completion in spring 2014. Opus Development Co. LLC is the developer, Opus Design Build LLC is the design-builder and Opus AE Group LLC is the architect and engineer.
MALVERN, PA. — Liberty Property Trust has completed the operating partnership of Cabot Industrial Value Fund III for $1.5 billion. The transaction has increased Liberty's industrial platform by approximately 23 million square feet and added 177 properties in 24 new and existing Liberty industrial markets. Approximately 58 percent of the total portfolio is located in existing Liberty industrial markets, including Chicago, South Florida, Houston, New Jersey, Maryland and Central Pennsylvania. The remaining approximately 10 million square feet is located in 10 markets in which Liberty does not currently have a presence, including Atlanta, Dallas/Fort Worth and Southern California. The acquisition was funded through a combination of sources including proceeds of $834.1 million from an offering of 24.2 million common shares, $450 million of 4.4 percent senior notes due 2024 and the assumption of $230 million in mortgage debt.
EL PASO, TEXAS — CBRE Capital Markets has brokered the sale of the Walter Jones Logistics Campus, a 497,611-square-foot office/industrial complex within Butterfield Trail Industrial Park in El Paso. Anchorage, Alaska-based Bond Commercial Properties purchased the asset, which consists of four structures: two distribution facilities with cross-dock loading, an office building and a standalone distribution facility. Penske Logistics is a key tenant at the property, which was 71 percent leased at the time of sale. Jack Fraker, Josh McArtor, Jonathan Bryan, Heather McClain Venegoni and Anthony Mash of CBRE represented the seller, Invesco Ltd. Bond selected Mash as the exclusive listing agent for the complex going forward.
ORLANDO, FLA. — Orlando-based NAI Realvest has closed the $24 million sale of an industrial portfolio totaling more than 525,000 square feet. The properties are located in Orange and Seminole counties in Florida. The industrial facilities include Monroe CommerCenter North and Monroe CommerCenter South in Sanford, Hanging Moss CommerCenter in Orlando and Goldenrod CommerCenter in east Orlando. George Livingston, Christie Alexander, Drew Saphos, Paul Vera and Michael Heidrich of NAI Realvest handled the transaction. NAI Realvest will continue to serve as property manager for the new owners. A joint venture between Chicago-based Blue Vista Capital Partners and Baltimore-based Rio Hondo Capital Partners purchased the facilities from Cornerstone Core Properties REIT.
COPPELL, TEXAS — Duke Realty has arranged a lease for 263,625 square feet of industrial space for Anna’s Linens at Point West VI, a warehouse building located at 400 Dividend Drive in Coppell, about 20 miles northwest of downtown Dallas. The tenant, a retailer of sheets, curtains and other home goods, will use the location as a regional distribution center. Duke owns the facility, which totals more than 1 million square feet and is now fully leased. T. Holden Rushing and Jeff Cannon of Studley represented Anna’s Linens in the lease negotiations, while Duke was represented internally by Randy Wood.
COMMERCE, CALIF. – A 90,000-square-foot industrial facility in Commerce has sold to ID USA for $6.6 million. The facility is located at 6557 Flotilla Street. ID USA plans to occupy and expand its operations at the new facility. The seller, Flotilla Street Property, LLC, was represented by John McMillan, Jeff Sanita and Timothy Wallace of Cushman & Wakefield.