Industrial

CBRE Arranges Five Industrial Leases at 42 West Business Park in Metro Raleigh

by John Nelson July 19, 2024

CLAYTON, N.C. — CBRE has arranged five new leases at 42 West Business Park, a newly developed flex/light industrial property in Clayton, 17 miles outside downtown Raleigh. Delivered at the end of 2023, the development comprises two warehouses totaling 125,000 square feet. Habitat for Humanity of Wake County will occupy the entirety of Building 1, which totals 25,000 square feet. Together, the tenants will occupy 65,787 square feet, bringing the property to over 50 percent occupancy. Austin Nagy and John Hogan of CBRE represented the landlord, Charlotte-based Pace Commercial, in the lease negotiations.

July 19, 2024

Development Industrial Texas

Walmart Opens 730,000 SF Food Processing Facility in Lancaster, Texas

by Taylor Williams July 19, 2024

LANCASTER, TEXAS — Walmart (NYSE: WMT) has opened a 730,000-square-foot food processing facility in Lancaster, a southern suburb of Dallas. About 500 people are expected to work at the facility, which will be used to receive and process produce, eggs, dairy products, flowers and frozen goods for delivery to nearby Walmart stores. The Arkansas-based discount retail giant, which also opened a fulfillment center in Lancaster in 2023, operates about 590 retail units in Texas and employs some 176,000 people throughout the state.

July 19, 2024

Industrial Loans Self-Storage Texas

Gantry Places $12M Loan for Refinancing of San Antonio Self-Storage Facility

by Taylor Williams July 19, 2024

SAN ANTONIO — San Francisco-based mortgage banking firm Gantry has placed a $12 million loan for the refinancing of Lockaway Storage, a 716-unit facility in San Antonio. Built in 2018, the property spans 140,285 net rentable square feet and offers climate- and non-climate-controlled units, mini-office and warehouse spaces and oversized vehicle parking spaces. Tom Dao and Joe Foley of Gantry arranged the fixed-rate loan, which carries a five-year term and a 25-year amortization schedule, through an undisclosed life insurance company. The borrower was also not disclosed.

July 19, 2024

Acquisitions Arizona Industrial Western

CRG Divests of 1.2 MSF The Cubes at Glendale Warehouse Facility in Arizona

by Amy Works July 19, 2024

GLENDALE, ARIZ. — CRG has completed the sale of The Cubes at Glendale – Building B, an industrial warehouse facility in Glendale. Funds and accounts managed by BlackRock acquired the asset for an undisclosed price. Located at 15301 W. Northern Ave., The Cubes at Glendale – Building 3 features 1.2 million square feet of Class A industrial warehouse space, 40-foot clear heights, loading, trailer parking, gated and secured concrete truck courts, substantial power, K25.2 ESFR sprinklers, moment framing, heavy industrial zoning and two existing groundwater wells within the park. At the time of sale, the facility was fully occupied. Clayco, CRG’s parent company, served as design-builder and Lamar Johnson Collaborative, CRG’s subsidiary, served as architect. Situated on 335 acres, The Cubes at Glendale features 4.8 million square feet of industrial space. Will Strong, Michael Matchett, Molly Hunt and Dean Wiley of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented the seller in the transaction.

July 19, 2024

Constitution-Logistics-Center-Piscataway

Development Industrial New Jersey Northeast

Rockefeller Group Sells 147,000 SF Industrial Property in Piscataway, New Jersey

by Taylor Williams July 19, 2024

PISCATAWAY, N.J. — New York City-basedRockefeller Group has sold Constitution Logistics Center, a 147,000-square-foot industrial property located in the Northern New Jersey community of Piscataway. The buyer was Bridge Industrial. Rockefeller Group acquired the 18-acre site in 2023 and demolished a 100,000-square-foot office building that was previously owned and occupied by WS Audiology/Sivantos Group. Building features include a clear height of 36 feet, 41 loading docks, 3,000 square feet of office space and parking for 123 cars and 57 trailers. Marc Petrella and Michael Kimmel of KBC Advisors represented Rockefeller Group in the transaction.

July 19, 2024

Acquisitions Illinois Industrial Midwest

Stream Realty Partners Acquires 599,988 SF Industrial Portfolio in Metro Chicago

by Kristin Harlow July 19, 2024

BUFFALO GROVE, CHICAGO AND MOKENA, ILL. — Stream Realty Partners has acquired a four-building industrial portfolio totaling 599,988 square feet of Class A space in metro Chicago for an undisclosed price. The assets include: Asbury Drive, a 157,000-square-foot building in Buffalo Grove; Rockwell Logistics Center, a 174,262-square-foot property in Chicago; and Mokena Logistics I and II, two buildings totaling 268,226 square feet in Mokena. The portfolio is fully leased to seven tenants. Patrick Russo, Mustafa Ali and Ben Harrison facilitated the acquisition for Stream on an internal basis. Ryan Bain, Michael Caprile, Zach Graham, Judd Welliver, Bentley Smith, Joe Horrigan and Victoria Gomez of CBRE brokered the sale. Local brokers Whit Heitman, Sam Badger, Larry Goldwasser and Terry Grapenthin assisted on the transaction.

July 19, 2024

Acquisitions Industrial Midwest Wisconsin

Transwestern Brokers Sale of Industrial Outdoor Storage Property in Hudson, Wisconsin

by Kristin Harlow July 19, 2024

HUDSON, WIS. — Transwestern Real Estate Services has brokered the sale of a 7.1-acre industrial outdoor storage property in Hudson, about 30 miles east of Minneapolis. The asset is located at 2310 O’Neil Road. Chris Weirens of Transwestern represented the seller, Rajean LLC. Interstate Development purchased the asset for an undisclosed price.

July 19, 2024

Development Industrial Texas

Intersect Power Receives $837M in Financing for Battery Energy Storage Facilities in Texas

by Taylor Williams July 18, 2024

BEAVERTON, ORE. — Intersect Power, an Oregon-based clean energy company, has received $837 million in financing for the construction and operation of three standalone battery energy storage facilities in Texas. The facilities, the specific locations of which were not disclosed, are expected to be operational by the end of the year. The financing includes portfolio-level construction debt, tax equity and term debt financing. Morgan Stanley provided tax equity, and funds and accounts managed by HPS Investment Partners will be making construction debt and term debt investments. Deutsche Bank is partnering in the construction debt facility and providing the operational letters of credit to the projects.

July 18, 2024

Development Industrial Texas

Logistics Property Co. Breaks Ground on 408,000 SF Industrial Project in Northeast Austin

by Taylor Williams July 18, 2024

AUSTIN, TEXAS — Chicago-based Logistics Property Co. has broken ground on a two-building, 408,000-square-foot industrial project at 12821 Titanium St. in northeast Austin. The site is roughly one mile from State Highway 130 and 15 miles from the downtown area. The development will consist of a 175,000-square-foot rear-load building and a 233,000-square-foot cross-dock building. Construction is expected to last about one year. McFarland Architecture is designing the project, and FCL Builders is serving as the general contractor. Locally based brokerage firm AQUILA Commercial is marketing the property for lease.

July 18, 2024

Data Centers Development Industrial Texas

KDC, University of Dallas Receive Zoning Approval for Irving Data Center Project

by Taylor Williams July 18, 2024

IRVING, TEXAS — Developer KDC, in partnership with the University of Dallas, has received approval from the Irving City Council to rezone a site located north of State Highway 114 at Braniff Drive to support the development of a data center. The project, the size and scope of which was not disclosed, is currently in the design phase and expected to be complete in early 2027. Corgan is leading the design of the project, with Telios and Kimley-Horn providing engineering services.

July 18, 2024

Newer Posts

Older Posts