ANDOVER, MASS. — Red Thread has signed a 96,000-square-foot industrial lease in Andover, located north of Boston. The workplace design and integration firm is taking space at 4 Executive Place, a 168,000-square-foot building. Locally based investment and development firm Marcus Partners owns the building. Both parties were self-represented in the lease negotiations.
COLORADO SPRINGS, COLO. — Spartan Investment Group has acquired a 76,720-net-square-foot self-storage facility in Colorado Springs for an undisclosed price. FreeUp Storage, Spartan’s in-house facility management solution, will mange the 139-unit property, which was under local ownership. Spartan plans to modernize the property, which was built before 2000, by implementing StoreEase, the company’s virtual management system.
CHARLOTTE, N.C. — Scout Motors has selected Charlotte as its new U.S. corporate headquarters. The car manufacturer and subsidiary of German automaker Volkswagen plans to invest about $206 million within the local economy and to bring about 1,200 new jobs to the trade area. Scout Motors plans to fill these jobs over the next five years and will pay average annual wages of $172,000, which the company says is nearly double the average annual wage in Mecklenburg County. Scout Motors will locate its headquarters within Commonwealth, a mixed-use development in Charlotte’s Plaza Midwood neighborhood that is co-developed by Crosland Southeast and Nuveen Real Estate. The announcement builds on previous U.S. real estate activity by Scout Motors. The company is currently under construction on a 1,100-acre car manufacturing facility roughly 75 miles south of Charlotte in Blythewood, S.C., a project that is expected to be operational by 2027. The company also operates an “innovation center” in Novi, Mich. According to The Center Square, a watchdog publication that covers activities of state and local governments, Scout Motors received roughly $72 million in economic incentives for the deal. These included about $51.3 million from the State of North Carolina, $12.8 million from Mecklenburg …
HOUSTON — Chicago-based Brennan Investment Group has purchased an industrial outdoor storage (IOS) facility in South Houston. The 7.5-acre facility at 55 Southbelt Industrial Drive features a 32,025-square-foot building with 17 grade-level doors in a cross-dock configuration, as well as a single 30-ton exterior crane and 4 acres of outdoor storage space. The seller and sales price were not disclosed.
GILBERT, ARIZ. — Simone Charitable Foundation has acquired a logistics facility located at 3797 S. Silverado Court in Gilbert from ATLAS for $26.8 million. Brian Ackerman of Colliers represented the buyer, while Will Strong of Cushman & Wakefield represented the seller in the deal. The 60,500-square-foot property serves as a regional distribution center for Frito-Lay, a division of PepsiCo. Delivered in 2024, ATLAS developed the property as a build-to-suit for PepsiCo Global Real Estate, and the facility is leased on a long-term basis. The asset features a 161-foot building depth, 130-foot truck court and more than 2 acres of secured concrete yard.
LOS ANGELES — PSRS has arranged $21 million in refinancing for a 213,990-square-foot multi-tenant industrial warehouse in Los Angeles. Built in 1955, the property features a clear height of 22 feet and 13 exterior drive-in docks. Jonny Soleimani and George Gianoukakis of PSRS arranged the nonrecourse loan that features a two-year term with a one-year extension option, full-term interest-only payments and a one-year prepayment penalty through one of PSRS’ correspondent life insurance company lenders.
WESTFIELD TOWNSHIP, OHIO — Stonemont Financial Group has completed the lease-up of Westfield Commerce Park in Westfield Township near Akron following a full-building lease with B’Laster Holdings. The tenant, a specialty chemical manufacturer headquartered in Valley View, Ohio, has extended its lease to occupy the entire 450,112-square-foot speculative facility. Completed in June 2023, Westfield Commerce Park features a clear height of 36 feet, cross-dock configuration, 500 car parking spaces and 130 trailer stalls. Stonemont served as the developer and owner of the project, with Pinnacle Bank and PCCP serving as debt and capital partners. Joe Messina and David Stecker of JLL handled leasing and represented Stonemont, which has developed more than 3.5 million square feet of industrial space across Ohio.
OAKDALE, MINN. — Brisky Net Lease has brokered the $23 million sale of a 199,919-square-foot industrial building in Oakdale, a suburb of the Twin Cities. Superior 3rd Party Logistics occupies the facility, which is located at 3490 Hayward Ave. Brian Brisky of Brisky Net Lease was the only broker involved in the sale of the property, which was built in 2022 on 15.1 acres within the larger 4Front Technology & Office Campus.
AMHERST, N.Y. — Locally based financial intermediary Largo Capital has arranged a $9 million loan for the refinancing of an 81,569-square-foot industrial and office building in Amherst, a suburb of Buffalo. The property address was not disclosed, but the building was originally constructed in 1989 and was fully leased at the time of the loan closing. Jack Philips of Largo Capital originated the debt through an undisclosed bank. The name of the borrower was also not disclosed.
WILLIAMSTON, S.C. — Farpoint has executed a new 10-year lease with BMarko Structures, a manufacturer of modular buildings, at 134 Long Road in Williamston. Farpoint recently delivered the 560,240-square-foot facility in Anderson County, a submarket in the Upstate South Carolina region. BMarko’s new corporate headquarters is expected to create 225 full-time jobs and tap into the skilled workforce and advanced manufacturing presence in the I-85 corridor, according to Farpoint. BMarko’s past projects include the popular Bal Harbour Shops pop-up in Miami, as well as prefabricated data centers.