PORT WASHINGTON, N.Y. — New York-based investment firm BEB Capital has completed the $4 million renovation of 26 Harbor Drive, a 71,164-square-foot industrial flex facility in Port Washington. TPG Architecture designed the project, which included an upgrade of infrastructural systems, a revamp of the office space, the addition of new amenities and the commissioning of a mural. BEB Capital first acquired the property, which also houses the company headquarters, in June 1994.
OLATHE, KAN. — Honeywell has unveiled plans to invest $84 million to expand its aerospace manufacturing facility in Olathe, a southern suburb of Kansas City, according to Gov. Laura Kelly. The investment is expected to create 156 new jobs, generate nearly $47 million in total gross domestic product and contribute $18.3 million in state and local taxes in its first six years. The expansion will create one of Honeywell’s most technologically advanced aerospace manufacturing facilities. The 560,000-square-foot property currently manufactures components for Honeywell’s avionics, safety and flight control systems, complex radio frequency systems for traffic collision avoidance, radar altimeters and weather radar.
LAKE BLUFF, ILL. — Marcus & Millichap has negotiated the $9.9 million sale of a 67,879-square-foot industrial property in Lake Bluff, a northern suburb of Chicago. The property consists of two multi-tenant buildings located on North Skokie Highway. Adam Abushagur, Nicholas Kanich and Tyler Sharp of Marcus & Millichap represented the seller, a private investor. Buyer information was not provided.
ISLIP, N.Y. — A partnership between Chicago-based Venture One Real Estate and New York City-based Affinius Capital has delivered a 121,270 square-foot speculative industrial project in the Long Island community of Islip. The site at 2950 Veterans Memorial Highway spans 9.7 acres, and the building features a clear height of 36 feet, 130-foot truck court depths and parking for 122 cars and 119 trailers. Cushman & Wakefield is marketing the property for lease.
SAN BERNARDINO AND RIALTO, CALIF. — Stockbridge and Dedeaux Properties have completed the disposition of a three-property industrial outdoor storage portfolio in California’s Inland Empire. Terms of the transaction, including the name of the buyer and acquisition price, were not released. Totaling 1 million square feet on 23.2 acres, the three buildings are located at 446 S. Yucca Ave. in Rialto and 1066 N. Tippecanoe Ave. and 1938 W. 5th St. in San Bernardino. Mark Detmer, Evan Moran, Chad Solomon, Patrick Wood and Louis Tomaselli of JLL Capital Markets arranged the transaction. Brian Halpern and Jason Rosin, also of JLL, assisted with the procurement of the financing.
SANTA TERESA, N.M. — Hunt Southwest Real Estate Development has purchased an industrial building located at 465 Industrial Ave. in Santa Teresa, near both the Texas and Mexico borders. MCS Realty Partners sold the asset for an undisclosed price. Built in 2015, the vacant 215,256-square-foot building offers of 32-foot clear heights; existing office space; an air-conditioned space for quality control lab, production or assembly; an ESFR sprinkler system; and a secure, fenced-in truck court with trailer staging area. Additionally, there’s land adjacent to the building that can accommodate a 45,000-square-foot building expansion, additional parking or outside storage. Adin Brown of Sonny Brown Associates brought the acquisition opportunity to Hunt Southwest and will represent the company in the lease-up of the facility.
CLINTON, UTAH — Mountain West Self Storage has acquired Secure Self Storage, a 101,025-square-foot facility in Clinton, approximately 30 miles north of Salt Lake City. A family development group sold the asset for an undisclosed price. Secure Self Storage consists of four one-story buildings offering a total of 647 climate-controlled and non-climate-controlled units. The facility has brick front dividers with metal interior walls, standing-seam metal roofs, roll-up doors and asphalt driveways. Jordan Farrer and Adam Schlosser of The LeClaire-Schlosser Group of Marcus & Millichap represented the seller and procured the buyer in the transaction.
GEORGETOWN, KY. — Auto giant Toyota has announced plans to invest $1.3 billion at Toyota Motor Manufacturing Kentucky, the company’s flagship plant in Georgetown. Toyota will invest the capital to increase production of its all-electric, three-row SUVs at the plant, including the establishment of a battery pack assembly line. CNBC reports that Toyota will begin production on the electric SUVs between late 2025 and early 2026. Toyota announced in May that it plans to invest $591 million in future projects and increase job retention to 700 full-time jobs at the plant. Situated about 16 miles north of Lexington within Scott County, Toyota Motor Manufacturing Kentucky represents an approximately $10 billion investment since operations first began in 1988. The company has produced more than 12 million vehicles at the plant over the past four decades.
ASHLAND, VA. — Matan Cos. has delivered Phase I of Northlake II, an industrial park located along the I-95 corridor in Ashland, a northern suburb of Richmond. The first three buildings of the park span 345,000 square feet and were fully leased upon delivery to tenants including Ferguson, Chadwell Supply, Envoy Solutions and Haskell Hardware. Gareth Jones, Chris Avellana and Charlie Polk of JLL handle the leasing at Northlake II on behalf of Matan. Construction of Phase II will commence this summer, with expected completion at the end of 2025 for the final building, which will span approximately 200,000 square feet.
BROOKSHIRE, TEXAS — Lee & Associates has negotiated a 167,120-square-foot industrial lease in the western Houston suburb of Brookshire. The tenant, SOLogistics, has leased the entirety of Westside 10 Industrial Park, a front-load building that features 32-foot clear heights, 38 dock doors, two overheard doors, 145-foot truck court depths and parking for 227 cars and 15 trailers. Robert McGee, Taylor Schmidt and Austin Bartula of Lee & Associates represented the landlord, a partnership between Growth Capital Partners and Phelan Development Co., in the lease negotiations. Will Clay of JLL represented SOLogistics.