PLAINFIELD, ILL. — Entre Commercial Realty has brokered the sale of a 142,370-square-foot industrial facility in Plainfield. Situated on 20 acres, the freestanding property features 19 loading docks, two drive-in doors, approximately 11,000 square feet of office space, heavy power and eight private rail spurs. A local transportation company purchased the building with plans to utilize it as its new corporate headquarters. Mike DeSerto, Cory Kay and Elisabeth Lazzara of Entre represented the buyer, while Colliers represented the undisclosed seller.
LEE COUNTY, IOWA — Mesabi Metallics, a wholly owned subsidiary of India-based conglomerate Essar Group, plans to develop a new $15 billion steel mill in southeast Iowa’s Lee County. Rewant Ruia, chairman of Mesabi Metallics, made the announcement at The White House yesterday along with Iowa Gov. Kim Reynolds and President Donald Trump. The new plant is expected to create 6,000 temporary construction jobs. Once the facility is operational, which is expected by 2030, the mill will employ an estimated 1,750 full-time team members. Combined with the $3 billion that the company is using to complete its iron ore mine in Nashwauk, Minn., the investment by Mesabi represents the largest single investment made in a steel complex in American history, according to Mesabi. “Mesabi is building a world-class steel supply chain that is 100 percent American,” says Joe Broking, CEO of Mesabi Metallics. “Our investment will create high-paying jobs with competitive benefits in Iowa and Minnesota, generate tens of billions of dollars in U.S. economic activity and strengthen our domestic manufacturing base.” Mesabi will utilize pellets, dubbed Patriot Pellets, procured from iron ore at its Minnesota mine, which is the first new iron ore mine built in the United States …
STUART, FLORIDA — JLL Capital Markets has arranged a $66.8 million loan to refinance South Florida Gateway, a 987,184-square-foot industrial development located at 2400-2450 Southwest Gateway Place in Stuart, a coastal city about 40 miles north of West Palm Beach. Melissa Rose, Michael DiCosimo, Michael Romero and Nicole Diaz of JLL secured the floating-rate loan on behalf of the borrowers, Orlando-based Foundry Commercial and San Francisco-based Stockbridge Capital Group. The lender was not disclosed. South Florida Gateway comprises two newly delivered buildings that are situated on nearly 65 acres. Building One features 285,510 square feet of rear-load warehouse space with 32-foot clear heights, 60 dock doors and two drive-in ramps. Building Two encompasses 701,674 square feet of cross-dock distribution space with 36-foot clear heights, 120 dock doors and four drive-in ramps.
DALLAS — Rehrig Pacific Co. has signed a 127,789-square-foot industrial lease renewal in northwest Dallas. The provider of pallets, waste and recycling containers will remain a tenant at the building at 625 Mockingbird Lane. Jim Hazard of Cresa represented the tenant in the lease negotiations. Canon Shoults and Maddy Coffman of Holt Lunsford Commercial represented the landlord.
HAMILTON, N.J. — FRP Development Corp., a subsidiary of FRP Holdings (NYSE: FRPH) has delivered Logistics Center at Hamilton, a 170,800-square-foot industrial project in Central New Jersey. The site spans 15 acres at the intersection of I-195 and Route 130, and the building features a clear height of 36 feet, 27 dock-high loading doors, two drive-in doors, 3,000 square feet of office space and parking for 185 cars and 27 trailers. FRP developed the project in a joint venture with global real estate manager DWS. KBC Advisors is the leasing agent.
WALNUT, CALIF. — JLL Capital Markets has brokered the sale of Walnut Tech Business Center, a shallow-bay business park in Walnut. AEW sold the asset to CIP Real Estate II LLC for $60.6 million. Totaling 200,049 square feet, Walnut Tech Business Center features 11 buildings with 109 individual suites across industrial, flex office and retail designations that are 94 percent leased. Patrick Nally, Evan Moran, Chad Solomon, Shae Vomund and Lauren O’Neill of JLL represented the seller in the deal. Additionally, JLL’s Kevin Mackenzie, Peter Thompson, Kyle White and Colter Smith arranged $42.9 million in acquisition financing for the buyer.
NORTH AURORA, ILL. — Transwestern Investments has acquired a 408,176-square-foot industrial facility in Chicago’s I-88 Corridor on behalf of a separate account. Built in 2023 and located in North Aurora, the fully leased property features a cross-dock configuration, a clear height of 36 feet, 55 dock doors, four drive-in doors and dedicated car and trailer parking. Located 1.7 miles from I-88, the property provides connectivity to I-355, I-294 and the Chicago O’Hare International Airport. Transwestern Services has been retained to provide property management services.
HOUSTON — A partnership between Dallas-based Lincoln Property Co. (LPC) and New York Life Investment Management has acquired a shuttered mall in North Houston with plans to implement a $150 million industrial redevelopment. Greenspoint Mall first opened in the mid-1970s at the northeast corner of I-45 and Beltway 8 and closed about two years ago. The partnership plans to demolish the mall in the coming days and redevelop the 80-acre site with 1.2 million square feet of cross-dock and rear-load industrial buildings, along with retail and service uses. The new development, which will be known as CityNorth Industrial Park, is expected to be complete in early 2028. Powers Brown Architecture is the project architect. Kimley-Horn is the civil engineer, and E.E. Reed Construction is the general contractor. Warren Hitchcock of Northmarq advised LPC on the joint venture partnership with New York Life.
DALLAS — Cain Food Industries Inc. has signed a 121,290-square-foot industrial lease in West Dallas. The wholesale supplier of baking ingredients is taking space at the building at 1107 Conveyor Lane, a 220,741-square-foot building that features 32-foot clear heights, 62 dock-high doors, 97 parking spaces and roughly 3,000 square feet of office space. Canon Shoults and Maddy Coffman of Holt Lunsford Commercial represented the tenant in the lease negotiations. Sarah Ozanne and Lena Thomas of Stream Realty Partners represented the landlord, Crow Holdings.
HALTOM CITY, TEXAS — Local investment firm CanTex Capital has purchased a 14,860-square-foot warehouse in Haltom City, located north of Fort Worth. The building at 2504 Minnis Drive was constructed in 1978 and was vacant at the time of sale. CanTex plans to reposition the site to support industrial outdoor storage use. Luke Clardy of Bradford Commercial Real Estate Services represented CanTex in the transaction. The seller was Roadmaster Industries Inc.