Thursday, May 22, 2025
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Industrial

AcquisitionsIndustrialMidwestMinnesota

PCCP, Capital Partners Acquire 382,635 SF Industrial Building in Brooklyn Park, Minnesota

by Kristin Harlow

BROOKLYN PARK, MINN. — A joint venture between PCCP LLC and Capital Partners has acquired 9001 Wyoming, a 382,635-square-foot industrial building in the Minneapolis suburb of Brooklyn Park. Built in 2000 and situated on a 24.8-acre site, the property features a clear height of 32 feet, 229 car parking spaces and 115 trailer parking spaces. Amazon fully occupies the facility. The transaction marks PCCP’s sixth joint venture with Capital Partners, a local owner and operator of more than 14 million square feet of industrial product. The seller and sales price were undisclosed.

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AcquisitionsIllinoisIndustrialMidwest

Brennan Purchases 38,135 SF Industrial Property in Broadview, Illinois

by Kristin Harlow

BROADVIEW, ILL. — Brennan Investment Group has purchased a 38,135-square-foot industrial property in Broadview, about 12 miles west of downtown Chicago. The single-tenant building is located just off I-290 at the four-way 25th Avenue interchange. The property is fully leased to MYR Group, an electrical construction business. Bill Lussow of Bespoke Commercial Real Estate represented the undisclosed seller.

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AcquisitionsIndustrialTexasTop Stories

Blackstone to Acquire Majority Stake in 6 MSF Texas Industrial Portfolio for $718M

by Hayden Spiess

DALLAS AND HOUSTON — Blackstone Real Estate (NYSE: BX), the largest owner of commercial real estate globally, has agreed for its Core+ funds business affiliate to acquire a 95 percent stake in an industrial portfolio in Texas totaling 6 million square feet. The purchase price is $718 million.  Crow Holdings, the Dallas-based real estate and development firm that developed the properties, is the seller and will retain a 5 percent ownership stake.  The transaction is expected to close in the second quarter of 2025.  The portfolio comprises 25 Class A buildings located predominantly in submarkets of Dallas and Houston. According to Blackstone, the metros are two of the top-performing logistics markets in the country.  “We are thrilled to acquire this high-quality portfolio located in some of the best performing U.S. industrial markets,” says David Levine, co-head of Americas acquisitions for Blackstone. “With limited vacancy and new construction starts down over 80 percent from the 2022 peak, logistics remains a high conviction theme for us; we are proud owners of more than $90 billion of warehouses in North America and nearly $170 billion in total around the world.” Founded in 1991, Blackstone currently has $315 billion of investor capital under management …

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IndustrialLeasing ActivityTexas

Gulf Highway Equipment Signs 46,023 SF Industrial Lease in Richland Hills, Texas

by Taylor Williams

RICHLAND HILLS, TEXAS — Truck parts manufacturer Gulf Highway Equipment has signed a 46,023-square-foot industrial lease at 7204 Burns St. in Richland Hills, a northeastern suburb of Fort Worth. According to LoopNet Inc., the single-tenant building was originally constructed in 1960. Luke Clardy of Bradford Commercial Real Estate Services represented the tenant in the lease negotiations. Todd Hubbard of NAI Robert Lynn represented the undisclosed landlord.

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AcquisitionsIndustrialTexas

Finial Group Negotiates Sale of Two Industrial Buildings Totaling 20,000 SF in Northwest Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm Finial Group has negotiated the sale of two industrial buildings totaling 20,000 square feet in northwest Houston. The buildings are located on 1.4 acres at 12111-12113 Taylor Road and have 21-foot clear heights. One building also includes 1,400 square feet of office space. Chase Tucker and Andrew Bischoff of Finial Group brokered the deal. The buyer and seller were not disclosed.

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AcquisitionsGeorgiaIndustrialLoansSoutheast

CBRE Secures $26.4M Acquisition Loan for Industrial Property in Tucker, Georgia

by John Nelson

TUCKER, GA. — CBRE has secured a $26.4 million acquisition loan for Lavista Business Park, a 217,496-square-foot industrial property located on 11.8 acres at 2000-2068 Weems Road in Tucker, about 18 miles northeast of Atlanta. Irvine, Calif.-based CIP Real Estate purchased the park from Dallas-based ATCAP Partners for $37 million. Mike Ryan, Brian Linnihan, Richard Henry and Taylor Crowder of CBRE Capital Markets’ Debt & Structured Finance team in Atlanta secured the five-year, floating-rate loan through LoanCore Capital on behalf of CIP. Built in 1972, Lavista Business Park consists of four single-story, shallow-bay buildings that average 54,000 square feet in size and feature new roofing, 16- to 20-foot clear heights, 55 dock-high doors, one drive-in door and 209 parking spaces. The property was 92 percent leased at the time of sale to 15 tenants.

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AcquisitionsArizonaIndustrialWestern

ViaWest Divests of 357,103 SF Sight Logistics Park in Tempe, Arizona

by Amy Works

TEMPE, ARIZ. — ViaWest Group has sold Sight Logistics Park, a two-building industrial property in Tempe. Terms of the transaction were not released. Completed in 2023, Sight Logistics Park consists of the 155,916-square-foot Building 1 at 6840 S. Harl Ave. and the 201,187-square-foot Building 2 at 6860 S. Harl Ave. The buildings feature 32-foot clear heights, 100 percent HVAC coverage, 66 dock-high doors, a 200-foot truck court, 10 grade-level doors and 8,400 amps of power. At the time of sale, the park was 88 percent occupied by a variety of tenants, including nVent, Daikin, Rentex and Supply Chain Solutions. Ben Geelan, Greer Oliver and Connor Nebeker-Hay of JLL Capital Markets Investment Sales handled the transaction. Rob Martensen, Phil Breidenbach and Sam Jones of Colliers handled local leasing efforts for the property.

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AcquisitionsCaliforniaIndustrialWestern

Marcus & Millichap Brokers Sale of 13,440 SF Warehouse in Stockton, California

by Amy Works

STOCKTON, CALIF. — Marcus & Milichap has arranged the $1.2 million sale of a warehouse property located at 729 S. Commerce St. in Stockton. Matt Sulaiman and Abdullah Sulaiman of Marcus & Millichap represented the undisclosed seller and procured the undisclosed buyer in the deal. Brandon Dena of Marcus & Millichap provided financing support for the transaction. Constructed in 1973, the 13,440-square-foot property features heavy power, a large yard, custom-built office space and convenient access to major freeways.

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AcquisitionsIllinoisIndustrialMidwest

Venture One Acquires 31,394 SF Industrial Building in Batavia, Illinois

by Kristin Harlow

BATAVIA, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has acquired a 31,394-square-foot industrial building in the Chicago suburb of Batavia. Located at 1563 Hubbard Ave., the single-tenant property was fully leased at the time of sale. Constructed in 1980 and situated on 2.2 acres, the building features two exterior docks, one drive-in door and parking for over 80 cars. Matthew Stauber of Colliers represented the undisclosed seller. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group. The fund targets industrial acquisitions in the Chicago, Northeast and Florida markets.

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IndustrialLoansTexas

PCA Arranges Loan for Refinancing of Industrial Outdoor Storage Facility in South Austin

by Taylor Williams

AUSTIN, TEXAS — Priority Capital Advisory (PCA), a Los Angeles-based financial intermediary, has arranged a loan of an undisclosed amount for the refinancing of Chapman 71, an industrial outdoor storage (IOS) facility in South Austin. Built in the 1970s, the property consists of seven buildings on a 13-acre site at 5001 E. Ben White Blvd. Building features include 12 dock-high doors, 23 grade doors, 25 parking spaces and 16- to 25-foot clear heights. An undisclosed bank provided the nonrecourse financing to the owner, Austin-based PlaceMKR, which will use the proceeds to cash out and recapitalize the property. Chapman 71 was fully leased at the time of the loan closing.

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