HOUSTON — Steel distributor Action Stainless has signed a 105,300-square-foot industrial lease at 10111 Houston Oaks Drive in northwest Houston. Building A at the property spans 65,500 square feet with 15,000 square feet dedicated to office use, while Building B offers 39,800 square feet, including 3,000 square feet of office space. Jack Gaffney and Andrew Bischoff of Finial Group represented the undisclosed landlord in the lease negotiations.
PHILADELPHIA — Colliers has negotiated a 123,102-square-foot industrial lease renewal at 10981 Decatur Road in northeast Philadelphia. The tenant is Chaby International, a warehouse operator and distributor of rainwear and seasonal products. Richard Gorodesky and Adam Gorodesky of Colliers represented the landlord, SANT Properties, in the lease negotiations. The tenant was self-represented. Other users at the property include EMCOR Services Fluidics, a provider of building and infrastructure services, and cocoa bean warehouse operator Dependable Distribution Services.
SAN DIEGO — JLL Capital Markets has negotiated the sale of a fully vacant flex office building located at 16980 Via Tazon in San Diego. Montana Avenue Capital Partners sold the asset to a private investor for $9.9 million in an all-cash, off-market transaction. Built in 1984, the single-story, 35,312-square-foot property can accommodate a variety of uses, including wet/dry lab, manufacturing and creative office space. The building features 14- to 16-foot clear heights and roll-up doors for grade-level loading. Bob Prendergast, Lynn LaChapelle and Zac Saloff of JLL Capital Markets Investment Sales and Advisory team represented the seller in the deal.
CROWN POINT, IND. — Venture One Real Estate has unveiled plans to build VenturePark65, a 135-acre logistics campus in Crown Point, a city in northwest Indiana. The development, located at the southeast corner of 101st Avenue and I-65, will encompass up to 2 million square feet of modern industrial space. Flexible building designs will accommodate large-scale users, with spaces ranging from 500,000 to 2 million square feet. Brian Vanosky and Michael O’Leary of Lee & Associates will market the property for lease.
COLLINSVILLE, ILL. — Gantry has arranged a $14.7 million permanent loan for the acquisition of Eastport Tech Center in the St. Louis suburb of Collinsville. The four-building industrial property, located on Eastport Plaza Drive, totals 202,508 square feet. The asset is fully leased to multiple tenants. Joe Monteleone and Bonnie Monteleone of Gantry represented the borrower, a private real estate company. A life insurance company provided the five-year, fixed-rate loan, which features a 30-year amortization.
DWG Capital Partners Acquires 84,612 SF Industrial Facility in Southeast Michigan Via Sale-Leaseback
HUDSON, MICH. — DWG Capital Partners, in partnership with MAG Capital Partners, has acquired an 84,612-square-foot industrial facility in southeast Michigan’s Hudson. The purchase price for the sale-leaseback transaction was undisclosed. Kecy Metal Technologies, a precision metal stamping company within ARC Group Worldwide’s portfolio, occupies the property at 4111 Munson Highway. Built in 1988, the facility features a 20-foot ceiling height. Doug Passon and Robert Bender of Fortis Net Lease represented the seller, while Aaron Eichenberg of Pantheon Commercial represented DWG. The transaction marks the first purchase in Michigan for DWG.
GREENVILLE, S.C. — Dallas-based Dalfen Industrial has signed an unnamed building materials supply company to a 154,440-square-foot lease at Upstate Trade Center, a 266,760-square-foot industrial building in Greenville. The facility is located two miles from I-185 and 3.5 miles from I-85. Rich Commercial Realty represented the tenant in the lease transaction.
LYNCHBURG, VA. — Coldwell Banker Commercial Read & Co. has brokered the $6 million sale of Forest Hill Shopping Center, an 82,000-square-foot retail center located at 2820 Linkhorne Drive in Lynchburg. Rick Read and Ricky Read of Coldwell Banker Read represented the seller, an entity doing business as Lynchburg Investment Co. Inc., in the transaction. The brokerage firm has served as the landlord rep for the retail center for the past 20 years. The buyer, Swintstorage Conversion Fund LLC, plans to convert the shopping center’s anchor store into a self-storage facility with some outdoor RV and boat storage space. The new owner will also rehabilitate the balance of Forest Hill’s retail space.
— By Shawn Jaenson, executive vice president, Kidder Mathews — Reno’s industrial market has demonstrated remarkable resilience in the face of challenging economic conditions. Despite such uncertainties, the region has maintained a strong industrial presence, showcasing its ability to adapt and thrive. Overall, the market delivered more than 22 million square feet of new construction since the start of 2020 and has experienced more than 50 percent rent growth over the same period, rising from $0.55 (triple net) in fourth-quarter 2019 to $0.84 at mid-year 2024. As the nation grapples with inflation, supply chain disruptions and shifting consumer behaviors, Reno’s industrial sector has managed to effectively weather these challenges. The city’s strategic location and pro-business environment have positioned it as a critical logistics and distribution hub. These factors have allowed local businesses to remain competitive, even as national economic pressures mount. Sales activity has seen a recent uptick with four major sales occurring in the second quarter of this year. Prospect Ridge bought the four-building, 893,632-square-foot Airway Commerce Center from Tolles Development; CapRock bought a 707,010-square-foot building from Manulife; and Pure Development sold two buildings – one with 354,640 square feet and the other with 322,400 square feet – to Exeter …
BAY SHORE, N.Y. — Cushman & Wakefield has brokered the sale of Candlewood Industrial Park, a two-building, 560,719-square-foot development located in the Long Island community of Bay Shore. Built in 1999, the structure at 145 Candlewood Road spans 313,246 square feet and features a clear height of 40 feet. Completed in 2013, the building at 158 Candlewood Road totals 247,473 square feet and features a clear height of 38 feet. Gary Gabriel, Kyle Schmidt, Ryan Larkin and Seth Zuidema of Cushman & Wakefield represented the seller, Rockefeller Group, in the transaction, and procured the buyer, NorthBridge Partners. Cushman & Wakefield has also been retained as the leasing agent.