HOUSTON — Partners Capital, the investment arm of Partners Real Estate, has sold a two-building, 52,781-square-foot industrial flex property in southwest Houston. The property at 10849-10899 Kinghurst Drive was built on 4.5 acres in 1981 and was fully leased at the time of sale. Jason Scholtz and Jason Tangen with Colliers represented Partners Capital in the transaction. The buyer and sales price were not disclosed.
ROMEOVILLE, ILL. — Associated Bank has provided a $25.4 million construction loan for Bridge Point I-55 Commerce Center in the southwest Chicago suburb of Romeoville. The speculative industrial project will total 292,054 square feet across two buildings. Bridge Industrial is the developer. The first building will total 120,012 square feet and feature a clear height of 36 feet, 25 exterior docks, two drive-in doors and 223 car parking stalls. The second building will span 172,042 square feet with a clear height of 36 feet, 43 exterior docks, two drive-in doors and 107 car parking stalls. The site also features an additional 3.8 acres to accommodate 75 more trailer parking stalls. Completion is slated for July 2025. Dan Leahy and Adam Roth of NAI Hiffman are marketing the project for lease.
CHICAGO — Sterling Bay has begun development of Pulaski 55 Logistics Center, a 147,500-square-foot speculative industrial facility in Chicago’s Archer Heights neighborhood. Completion is slated for December. The 7.5-acre project site features direct interstate frontage on I-55. The development will feature up to 29 loading docks, a fully secured truck court, 36-foot ceiling heights and two overhead drive-in doors. Plans call for two electric vehicle charging stations, upgraded steel components for future solar panel integration, curated landscaping and energy-efficient fixtures in both the warehouse and office space. Sterling Bay acquired the property in August 2023 in partnership with Affinius Capital. First National Bank of Omaha provided the construction loan. Premier Design + Build Group is the general contractor.
WHITESTOWN, IND. — Colliers has brokered the sale of Building 450, a 163,654-square-foot distribution center in the northwest Indianapolis suburb of Whitestown. The sales price was undisclosed. Located at 4921 E. 450 South and built in 2022, the Class A property is situated on more than 16 acres along I-65. Novo Logistics, a third-party logistics firm, fully occupies the facility on a six-year triple net lease. Building 450 features a clear height of 32 feet, 16 dock positions and ample auto and trailer parking. Alex Cantu and Alex Davenport of Colliers represented the seller, Citimark Management Co. Transwestern Investment Group was the buyer.
SAN BERNARDINO, CALIF. — Overton Moore Properties has acquired 19949 Kendall Drive, a Class A industrial building in the Inland Empire city of San Bernardino. Bixby Land Co. and a global investment manager sold the asset for an undisclosed price. Built in 2008 on five acres, the 104,500-square-foot property was fully leased to a single tenant at the time of sale. The asset features 30-foot clear heights, 15 dock-high doors, four grade-level doors, an ESFR sprinkler system and a fully secured, 140-foot truck court with multiple points of access. Mark Detmer, Patrick Nally, Ryan Sitov, Evan Moran, Kevin Mackenzie, Brian Torp, Mike McCrary, Patrick Wood, Ruben Goodsell and Jeff Bellitti of JLL represented the sellers and procured the buyer in the transaction.
PHOENIX — PSRS has arranged $12 million in refinancing for an industrial warehouse on 29th Drive in Phoenix. The property is a multi-tenant facility totaling more than 250,000 square feet. Jacob Lee and Thomas Rudinsky of PSRS secured the non-recourse, fixed-rate, five-year loan, which features a step-down prepayment. A correspondent life insurance company provided the funds.
FLEMINGTON, N.J. — Locally based developer Larken Associates has broken ground on Flemington Junction Business Center II, a 50,000-square-foot industrial flex project that will be located about 60 miles southwest of Manhattan. The building will feature a clear height of 32 feet, and units can be subdivided to spaces as small as 3,125 square feet. Core Enterprises is providing construction management services for the project, which is slated for a fourth-quarter delivery.
AMARILLO, TEXAS — Marcus & Millichap has brokered the sale of Advantage Storage, a 432-unit self-storage facility in Amarillo. Built in 2019, the facility totals 84,475 net rentable square feet across 226 climate-controlled units, 181 non-climate units, 13 enclosed parking spaces and 12 warehouse units. Gabriel Coe, Nathan Coe, Brett Hatcher and Garret Nelson of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was an out-of-state REIT that also requested anonymity.
NEW KENT COUNTY, VA. — Matan Cos. has purchased 185 acres east of Richmond for the development of New Kent Logistics Center, a 2 million-square-foot industrial park. JLL arranged the land sale on behalf of Matan Cos. Located at the intersection of I-64 and Emmaus Church Road in New Kent County, the property will span four buildings and be situated between the industrial markets of Richmond and Hampton Roads, the latter of which houses the Port of Virginia. Matan has selected Gareth Jones, Chris Avellana and Charlie Polk of JLL to lease New Kent Logistics Center. The construction timeline was not disclosed.
NORFOLK, VA. — S.L. Nusbaum Realty Co. has brokered the $34.9 million sale of an industrial facility located at 3321 Princess Anne Road in Norfolk. Industrial Realty Group acquired the 298,126-square-foot warehouse from an entity doing business as 3321 Princess Anne LLC. Stephanie Sanker of S.L. Nusbaum represented the seller in the transaction. LION Power and Beckett Corp. currently occupy a combined 104,334 square feet at the facility, with the remaining space available for lease. Constructed in 2022, the building comprises two sections. Section A features 113,450 square feet with 36-foot clear heights, multiple dock doors with expansion potential, new racking, office space and restrooms. Section B totals 80,321 square feet with dock-level loading, 21- to 24-foot clear heights and 38- by 36-foot column spacing.