HOUSTON — A joint venture between Trammell Crow Co. (TCC) and Japanese developer Daiwa House has broken ground on Blue Ridge Commerce Center, a 1.3 million-square-foot industrial project in southwest Houston. The site spans 92 acres at the northwest corner of Fort Bend Parkway and McHard Road, and the development will consist of five buildings that will range in size from 153,928 to 431,017 square feet. Buildings will feature a mix of front-load, rear-load and cross-dock configurations and clear heights that range from 28 to 36 feet. Seeberger Architecture designed the project, and E.E. Reed Construction is serving as the general contractor. Sumitomo Mitsui Banking Corp. is financing the development, and CBRE has been tapped as the leasing agent. Linco Construction will undertake infrastructure improvements as part of the project, which will include new public roads, traffic signals, underground utilities, a regional storm water detention pond and public sidewalks. Completion is scheduled for summer 2025.
Industrial
IndiCap, Invesco Real Estate Complete 1 MSF Phase I of Virgin Industrial Park in Glendale, Arizona
by Amy Works
GLENDALE, ARIZ. — IndiCap and Invesco Real Estate have completed Phase I of Virgin Industrial Park, an industrial development at 15748 W. Hatcher Road in the Phoenix suburb of Glendale. Totaling more than 1 million square feet, Virgin Industrial Park Phase I features Building A, a 564,320-square-foot, cross-dock facility; Building B, a 212,160-square-foot, rear-loading asset; and Building C, a 243,360-square-foot, rear-load space. All buildings offer divisibility options down to 75,000 square feet. Buildings feature 32- to 36-foot clear heights, dock-high and grade-level doors, generous power, extensive car and trailer parking, up to 70-foot speed bays and fully secured concrete truck courts. Make-ready improvements include speculative office space, LED lighting, warehouse HVAC and mechanical pit levelers. The project team includes Graycor Construction Co. as general contractor and Deutsch Architecture as project architect. Anthony Lydon, Marc Hertzberg, Riley Gilbert and Kelly Royle of JLL are handling leasing of the property. At full build-out, Virgin Industrial Park will add 1.5 million square feet of industrial space spread across five Class A buildings to metro Phoenix’s Loop 303 Corridor.
BlueScope Properties Divests of 304,620 SF Dove Valley Logistics Centre II in Englewood, Colorado
by Amy Works
ENGLEWOOD, COLO. — BlueScope Properties Group has completed the sale of Dove Valley Logistics Centre II, a Class A warehouse located at 7800 S. Fairplay St. in the Denver suburb of Englewood, to LBA Realty for an undisclosed price. Sean Devaney and Rob Key of JLL Investment Sales and Advisory represented the seller in the deal. Built in 2023, the 304,620-square-foot cross-dock warehouse offers 89 dock-high doors, 36-foot clear heights, 60-foot column spacing and ESFR sprinklers. Additionally, the property offers 6,700 square feet of office space, including an employee break area, wellness room, conference room and security station. At the time of sale, the asset was fully leased by an e-commerce giant.
PHOENIX — Cushman & Wakefield has arranged the sale of an industrial property, located at 2424 S. 21st St. in Phoenix. The 40,930-square-foot asset traded for $9.5 million. The names of the seller and buyer were not disclosed. Cushman & Wakefield’s Phoenix Industrial Private Capital Group handled the transaction.
Company NewsIndustrialNorth CarolinaNortheastPennsylvaniaProperty TypeSelf-StorageSoutheastTop Stories
Go Store It, Snapbox Merge, Creating 10 MSF Self-Storage Giant
CHARLOTTE, N.C. AND PHILADELPHIA — Go Store It Self Storage and Snapbox Self Storage have merged. The combined company is now one of the largest private self-storage operators in the United States, according to a press release issued by the companies. Operating under the Go Store It Self Storage brand name, the new entity will oversee a portfolio totaling more than 10 million square feet of storage space across 145 locations in 23 states. Executive leadership will include Ryan Hanks and Jake Ramage as chief executive officers (CEOs), with Matt Lang serving as president. The merger is designed to enhance operational efficiency as well as stimulate growth in the areas of acquisition, development and third-party management. Founded in 2013 in Charlotte, N.C., Go Store It is a subsidiary of Madison Capital Group Holdings. Philadelphia-based Snapbox was also founded in 2013. Both companies are FrontRange Capital portfolio companies. FrontRange has invested roughly $100 million in Madison Capital and its affiliates, including Go Store It, and is making a co-general partner (co-GP) commitment to the new entity. — Hayden Spiess
CHICAGO — DarwinPW Realty/CORFAC International has brokered the sale of a 14,000-square-foot building and 3.3 acres of industrial outdoor storage at 4150 S. Packers Ave. in Chicago’s Stockyards neighborhood. The sales price was undisclosed. The property is situated within an Enterprise Zone and is zoned for industrial use. Ed Wabick and Terry Lynch of DarwinPW Realty/CORFAC International represented the seller, Stockyard Bricks. The buyer, Midwest Trailer Repair, intends to use the site and building to expand its business. Humberto Garcia of Realty at Home represented the buyer.
HOUSTON — MS Warehousing has preleased 212,280 square feet of industrial space in northeast Houston. The local freight management firm will be the lead tenant at First Liberty Logistics Center, a 424,560-square-foot building that is being developed on a speculative basis by Chicago-based First Industrial Realty Trust. The site spans 26.6 acres, and the building will feature 40-foot clear heights. Grant Hortenstine of CBRE and Bob Berry of Savills represented MS Warehousing in the lease negotiations. David Munson and Garrett Thomas of Cushman & Wakefield represented the landlord. OneFourTwo Design Group is the project architect, and ARCO Design/Build is the general contractor. Completion is slated for fall 2025.
A&A Transfer Signs 173,800 SF Industrial Lease at Ashton Creek Distribution Center Near Richmond
by John Nelson
SOUTH CHESTERFIELD, VA. — Industrial rigging solutions company A&A Transfer has signed a full-building, 173,800-square-foot lease at Ashton Creek Distribution Center in South Chesterfield. Located at 1611 Ashton Park Drive, the newly delivered building is situated roughly 20 miles south of Richmond. Ryan Hays of Armour Realty represented the tenant in the lease negotiations, and Chris Avellana, Jimmy Appich and Charlie Polk of JLL represented the landlord, Lingerfelt. Designed and constructed by ARCO Design/Build, the facility was delivered in the first quarter of 2024.
Libitzky Property Cos. Buys 224,471 SF Parc Germann Industrial Campus in Chandler, Arizona
by Amy Works
CHANDLER, ARIZ. — Libitzky Property Cos. has acquired Parc Germann, a two-building industrial campus in the Phoenix suburb of Chandler, for an undisclosed price. Built in 2020, Parc Germann offers a total of 224,471 square feet of Class A industrial space that was 100 percent leased to three tenants at the time of acquisition. Situated on 16 acres, Parc Germann features a 92,261-square-foot building at 2215 E. Germann Road and a 132,210-square-foot warehouse at 2225 E. Germann Road. The buildings feature 28-foot clear heights and the campus offers 62 dock-high doors, 14 drive-in doors, 262 parking spaces and ideal ingress/egress. Will Strong, Michael Matchett, Molly Hunt and Callahan Conway of Cushman & Wakefield National Industrial Advisory Group – Mountain West represented the undisclosed seller in the disposition.
TEMPE, ARIZ. — Newport Beach, Calif.-based BKM Capital Partners has purchased Ash Business Center, a nine-building, small-bay light industrial asset in Tempe, for $17.4 million. The name of the seller was not released. Located at 4666-5010 S. Ash Ave., the 89,728-square-foot Ash Business Center features 16 units averaging 5,608 square feet with 16- to 18-foot clear heights, 16 grade-level doors and ample parking.