LOS ANGELES — Lee & Associates – LA North/Ventura has brokered the acquisition of an industrial property located at 10643 Glenoaks Blvd. in the Pacoima neighborhood of Los Angeles. Greater Los Angeles Vector Control District, a local government health entity, acquired the asset from Glenoaks Partners for $13.1 million. Chris McKenzie of Lee & Associates – LA North/Ventura represented the seller in the transaction. The asset features 38,063 square feet of industrial space with 13,086 square feet of office space and high-power capabilities.
BURLINGTON, MASS. — Geotechnical engineering services firm McPhail Associates has signed a 12,739-square-foot lease at an industrial flex property in Burlington, a northwestern suburb of Boston. According to LoopNet Inc., the property at 42-44 Third Ave. was originally constructed in 1966 and totals 25,521 square feet. ABG Commercial Realty represented the landlord, Nordblom Management Co., in the lease negotiations. The representative of the tenant was not disclosed.
LEANDER, TEXAS — Baltimore-based St. John Properties will develop Leander Tech Park, a 270,000-square-foot industrial project that will be located on the northern outskirts of Austin. Situated on 50 acres, Leander Tech Park will comprise eight buildings ranging in size from 31,560 to 50,639 square feet that will be developed in phases. The first phase will consist of two buildings totaling roughly 90,000 square feet. Construction of Phase I will start later this year and is expected to be complete in the third quarter of 2025. Leander Tech Park will also feature 18,850 square feet of inline retail space. Colin Tierney and Taylor Golden of Gold Tier Real Estate represented the seller, steel fabricator Zekelman Industries, in the disposition of the land.
RICHARDSON, TEXAS — Lee & Associates has negotiated an 8,710-square-foot lease at Arapaho Place, a 151,728-square-foot industrial flex complex located in the northeastern Dallas suburb of Richardson. Jessica Reinhardt, George Tanghongs and Ally Tanghongs of Lee & Associates represented the landlord, an entity doing business as Dallas North Industrial LLC, in the lease negotiations. Nathaniel Barrett of White Rock Realty represented the tenant, Indian software developer Incresol Inc.
DENVER — StarPoint Properties is nearing completion of Point Central Business Park, a speculative industrial project situated on more than 9.5 acres in Denver. Commencing construction last summer, the park is scheduled for completion in the second quarter of this year. Located at 1051 E. 73 Ave., the 157,473-square-foot park features a 74,618-square-foot building and an 82,855-square-foot building. The development can accommodate occupier sizes ranging from 13,000 square feet to 157,000 square feet. Each building offers 2,358 square feet of high-end speculative office space, 2,000A/480V electrical and 32-foot clear heights. The park features 225 parking spaces, 27 dock-high truck doors (with the ability to add an additional 23 doors) and eight drive-in doors. Drew McManus, Bryan Fry and Ryan Searle of Cushman & Wakefield are marketing the property for lease.
HOUSTON — Morales Capital Group, an affiliate of Mexcor International, has unveiled redevelopment plans for Viva Center, a 2.3 million-square-foot office and warehouse complex on a 66-acre site in Houston. The developer plans to revitalize the facility to support the research and development of liquid-cooled IT equipment for supercomputing. Eduardo Morales, CEO of Mexcor International and Morales Capital Group, says he envisions the newly rebranded Viva Center as “a transformative tech hub that seamlessly blends Houston’s rich history with futuristic innovations. With a focus on integrating cutting-edge infrastructure and next-gen application platforms, Viva Center aims to lead the charge in shaping Houston’s technological landscape for years to come.” Morales bought the property in 2022. The asset is part of a larger, sprawling, 300-acre campus that once served as the headquarters of Compaq, which was the largest home computer manufacturer of the 1990s. Fellow tech giant Hewlett-Packard bought Compaq in 2002 and has gradually sold off pieces of the campus, finally leaving the site entirely for a newly built, smaller building in the suburbs in 2022. For example, in 2009, Lone Star College purchased 1.2 million square feet of the property and turned it into a branch of the college. VivaVerse Solutions LLC will lead …
— By Anthony Lydon, Executive Managing Director, JLL — At $403 billion in annual gross domestic product, Arizona is now the nation’s 18th largest GDP economy, recently passing Minnesota and Indiana. With its expected growth over the next 24 months, the state is on track to become the nation’s 16th largest GDP economy, surpassing Tennessee and Maryland. Like a shortlist of other fortunate U.S. markets, Arizona can credit a portion of this growth to its thriving logistics sector. The potential that industrial real estate offers for nearshoring — that commanding force with the power to rapidly diversify and expand a local economy. In Arizona alone, every $1 spent in the logistics industry has a $2 to $2.50 “multiplier effect” in the categories of earnings, revenue and jobs. The ability to capture that growth has been transformed in recent years by the CHIPS Act. This has provided, among other things, a 25 percent tax credit for investing in facilities that manufacture semiconductors or related manufacturing equipment. The Inflation Reduction Act has also provided more than $270 million in tax credits for clean energy projects involving solar, wind, hydrogen, carbon sequestration and EV charging. These programs played a role in attracting TSMC, …
FORT WORTH, TEXAS — Locally based brokerage firm Younger Partners has arranged the sale of a 58-acre industrial development site in Fort Worth. The site at 5921 South Freeway is located on the city’s southwest side near the junction of Interstates 20 and 35. Carter Crow and Michael Ytem of Younger Partners represented the seller in the transaction. Justin Toon of Industrial Reserve represented the buyer, which plans to start construction in 2025. Both parties requested anonymity.
HUTTO, TEXAS — A partnership between regional firm Titan Development and St. Louis-based Sansone Group will develop a 208,560-square-foot speculative cold storage facility in the northern Austin suburb of Hutto. The facility will be located within Titan’s Innovation Business Park and will feature 50-foot clear heights. Construction is slated to begin in the second quarter. CBRE and locally based brokerage firm AQUILA Commercial have been tapped as co-leasing agents for the facility.
CYPRESS, TEXAS — Colliers has negotiated a 142,100-square-foot industrial lease in the northwestern Houston suburb of Cypress. The tenant, 84 Lumber Co., will occupy the entirety of Barker Cypress Distribution Center. According to commercialsearch.com, the building sits on 12 acres and features 149 parking spaces and 3,574 square feet of office space. Wes Williams of Colliers and Conrad Bernard of Boyd Commercial represented the landlord, Molto Properties, in the lease negotiations. The tenant was self-represented.