CARROLLTON, TEXAS — Lee & Associates has negotiated a 20,538-square-foot industrial lease in the northern Dallas metro of Carrollton. According to LoopNet Inc., the building at 2853 Dickerson Parkway was constructed in 1995 and totals 41,354 square feet. Johnny Anderson of Lee & Associates represented the landlord, Stonelake Capital Partners, in the lease negotiations. The tenant is American Leak Detection.
LAS VEGAS — Intersection Equities, in partnership with Sundance Bay, has acquired Valley View Industrial, a multi-tenant flex industrial asset in Las Vegas, from Sanders Wyoming Trust. The transaction was valued at $8.7 million, or $181 per square foot. Erik Sexton and Camila Rosales of NAI Excel represented the buyer in the deal. Located at 5325 S. Valley View Blvd., Valley View Industrial consists of a 48,304-square-foot facility offering nine warehouse/office units ranging from 1,000 square feet to 28,000 square feet. The property features 14- to 18-foot clear heights and 11 grade-level doors. The ownership plans to implement a series of capital improvements to elevate the property to an institutional-quality asset. Planned renovations include a façade upgrade, new exterior paint and parking lot seal-and-stripe enhancements to improve curb appeal and long-term asset value.
KEA’AU, HAWAII — The LeClaire-Schlosser Group of Marcus & Millichap has arranged the sale of a StorQuest-managed self-storage facility located at 16-180 Mikahala Place in Kea’au. Dallas-based Baranof Holdings acquired the asset from a Hawaii-based limited liability company for an undisclosed price. StorQuest Self Storage offers 879 units spread across 77,363 net rentable square feet. Charles LeClaire and Adam Schlosser of Marcus & Millichap’s Denver office represented the seller and the buyer in the deal. Adam Attia of Marcus & Millichap served as broker of record for the transaction.
HOUSTON — Los Angeles-based CIM Group has provided a $57.5 million loan for the refinancing of a portfolio of four industrial buildings totaling approximately 533,000 square feet in northwest Houston. The borrower was a partnership between Phoenix-based Creation Equity and PGIM Real Estate. Completed in 2024, the portfolio comprises Houston Point 290, a three-building complex, and Cypress Creek Distribution Center, a single-building development. Three of the buildings have rear-load configurations, and other features include 32-foot clear heights, drive-in doors and a total parking allocation of 593 spaces.
JASPER, GA. — Coca-Cola Bottling Co. United Inc. has opened a new $19 million sales center and warehouse in Jasper, about 60 miles north of Atlanta. Situated on three acres off Hugh Mullins Court, the 26,000-square-foot facility includes a sales and distribution center, warehouse, fleet shop and office space. Jasper Coca-Cola will operate the facility, which will serve as a hub to distribute Coca-Cola products throughout Cherokee, Fannin, Gilmer, Pickens, Towns and Union counties. Established in 1932, Jasper Coca-Cola joined the Coca-Cola United family of bottlers in 2017. The company employs 58 associates, serves more than 1,000 customers and sells and distributes nearly 2 million cases of Coca-Cola products annually.
WELLFORD, S.C. — Boston-based STAG Industrial Inc. has signed an unnamed wholesale apparel and promotional product distributor to a 30-month lease in Wellford, a city in Spartanburg County. The tenant will occupy 102,060 square feet within a facility located at 452 Casual Drive. The lease brings the property, which was substantially completed in June 2024, to 69 percent occupancy. The lease commences on April 1 and includes 3.5 percent annual rent escalations.
DENTON, TEXAS — Dallas-based brokerage firm STRIVE has arranged the sale of a 22,300-square-foot industrial building in the North Texas city of Denton. According to LoopNet Inc., the single-story building at 9062 Teasley Lane was constructed on a 1.1-acre site in 1998. Hudson Springer and Jason Vitorino of STRIVE represented the seller in the transaction. Both parties were Texas-based entities that requested anonymity, as did the buyer’s representative.
SEEKONK, MASS. — Locally based brokerage firm The Stubblebine Co. has arranged the sale of a 2.6-acre industrial outdoor storage (IOS) site in Seekonk, located near the Massachusetts-Rhode Island border. The site at 75 Mead St. houses a 17,500-square-foot building. Anawan Realty Inc. sold the property to Philadelphia-based Alterra IOS for an undisclosed price. Matty Drouillard and James Stubblebine of The Stubblebine Co. represented both parties in the transaction.
CARSON, CALIF. — KGJ Properties has completed the disposition of an industrial building located at 130 W. Victoria St. in Carson. Wookjin IS USA Inc. acquired the asset for $15.3 million. Brian Held and Robert Spratlin of CBRE represented the seller, while Brent Koo and Lex Yoo of CBRE represented the buyer in the deal. The 58,400-square-foot property offers multiple large ground-level loading doors and excess land for staging.
— Phillip Hernandez, Research Director, Colliers — The Phoenix industrial market showed resilience throughout 2024. Arizona ranked fifth in net migration as of October, with 62,533 new residents — 52.8 percent of whom relocated from California. This influx of residents has positively impacted the labor market, growing Phoenix’s workforce by 42,900 employees by November, a 1.7 percent increase from the previous year. Investor interest in Phoenix’s industrial sector also remains strong. Fourth-quarter sales volume reached $1.9 billion, a 74 percent increase compared to the previous quarter and a 91.8 percent year-over-year increase. This brought last year’s total sales volume to $4.3 billion, with average prices per square foot rising by 2 percent (to $204.20) compared to fourth-quarter 2023. Vacancy Trends and Absorption Despite strong investor activity, the Phoenix market is experiencing rising vacancy rates. New deliveries in the fourth quarter added 7.8 million square feet to the market, bringing total deliveries for 2024 to 34.8 million square feet. However, the vacancy rate increased to 10.6 percent, marking a year-over-year 390 basis points rise. This increase is largely attributed to the completion of vacant product. Net absorption reached 3.8 million square feet in the fourth quarter, contributing to a year-to-date total of …