GROVEPORT, OHIO — Green Jobs Properties LLC has acquired a 640,640-square-foot industrial facility located at 3755 Hayes Road in Groveport, a southern suburb of Columbus. The purchase price was $56 million. The seller was Groveport Venture LLC.
WEST CHICAGO, ILL. — Brown Commercial Group has brokered the sale of a 31,379-square-foot industrial building in West Chicago for an undisclosed price. Matt Hanson of Brown represented the buyer, Krishiv Foods, a distributor of Indian food products. The buyer is more than tripling its space and will be relocating from Elk Grove Village. Mike Antonelli of Brown represented the seller, Spare Tire Enterprises LLC, which purchased the building in 2018.
WOODBRIDGE, VA. — The IDI Group Cos. (IDI) and its development partners have broken ground on Belmont Logistics, a $110 million industrial campus located in Woodbridge, roughly 25 miles southwest of Washington, D.C. According to the developer, the project marks the only new industrial project along Northern Virginia’s I-95 corridor so far this year. Upon completion, the development will feature three tilt-up concrete buildings totaling 416,000 square feet situated on 36.6 acres. Additionally, the development will include 540 car parking spaces, 40 trailer parking spaces and 55,000 square feet of additional storage space. Belmont Logistics will be developed in two phases, with the first phase comprising a 110,000-square-foot warehouse on 9.5 acres. Completion of the first phase is scheduled for the end of this year. Delivery of the campus in its entirety is scheduled for 2026. Offering connectivity to I-95, the location is situated roughly 30 miles from Dulles International Airport and 20 miles from Reagan National Airport. In addition to IDI, the joint venture developing the campus includes landowners ACD Precast LLC and the Carosi family. RW Murray is the general contractor for the project, which MGMA designed. Keystone National Group is providing an undisclosed amount of financing for …
IRVING, TEXAS — Newmark has arranged an undisclosed amount of construction debt for TriStar Business Park, a 173,680-square-foot industrial project in Irving. The development will comprise two buildings with 32-foot clear heights, 100-plus trailer parking stalls, eight-plus dock-high doors, 130- to 140.5-foot truck court depths and ESFR sprinkler systems. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and William Hairston of Newmark arranged the debt through an undisclosed regional bank on behalf of the developer, a joint venture between Hopewell Development and MBK Industrial Properties. Newmark also structured the joint venture between the two companies last fall. Colliers is the leasing agent for TriStar Business Park.
ALLEN, TEXAS — Gillett Commercial, a developer with offices in Texas and California, is nearing completion of a 71,920-square-foot industrial flex project in the northeastern Dallas suburb of Allen. Allen Exchange consists of three buildings that were developed on a speculative basis, the largest of which spans 50,864 square feet, sits on 3.6 acres and includes office and showroom space. The other two buildings total 10,500 square feet. Raymond Construction is the general contractor for the project, which is slated for an April delivery. Citadel Partners is marketing the development for sale and/or lease.
PLEASANTON, TEXAS — Avensis Energy has signed an 18,000-square-foot industrial lease in Pleasanton, about 40 miles south of San Antonio. According to LoopNet Inc., the building at 206 Oil Road was built on 4.9 acres in 2014 and totals 27,000 square feet. Carlos Marquez and Brian Heines of Partner Real Estate represented the landlord, Four Seasons Business Park II Ltd., in the lease negotiations. Sonit Seth with The Seth Brothers Team represented the tenant.
CLEVELAND, TEXAS — Locally based brokerage firm Oxford Partners has negotiated the sale of a 16,000-square-foot industrial building located at 2024 County Road 388 in Cleveland, about 45 miles northeast of Houston. Matt Rogers of Oxford Partners represented the seller, BE Plastics Inc. in the transaction. Tim Larson of KW Commercial represented the undisclosed buyer.
BEDFORD, MASS. — A partnership between Redgate, Optimum Asset Management and AEW Capital Management has delivered Riverwalk Labs, a 168,000-square-foot life sciences and manufacturing project in Bedford, about 20 miles northwest of Boston. The developers converted a former office building into a facility with 20,000-square-foot lab and office suites, as well as four separate tenant lobbies and multiple loading docks. Ci Design served as the project architect, and J. Calnan & Associates served as the general contractor.
Douglas Capital Partners Acquires 385,000 SF Office, Industrial Portfolio in Metro Columbus for $25M
GROVE CITY AND DUBLIN, OHIO — Michigan-based real estate investment firm Douglas Capital Partners has acquired three Columbus-area properties from American National Insurance Co. and Brookfield for $25 million. The three-property portfolio totals 385,000 square feet and is comprised of SouthPark XX, a Class A industrial asset in Grove City, and two office buildings in Dublin. The office assets include the Emerald Professional Building and Upper Metro Place. The acquisitions mark the first investments outside of Michigan for Douglas Capital Partners.
NEW HOLSTEIN, WIS. — Greywolf Brokerage LLC, a division of Greywolf Partners Inc., has arranged the $3.7 million sale of a 122,500-square-foot industrial building in New Holstein, about 43 miles south of Green Bay. The property sits on six acres at 2221 Calumet Drive. The fully leased building features 10 loading docks, five drive-in doors and a clear height of 20 feet. Buyer and seller information was not provided.