HOUSTON — Locally based investment firm Pagewood has acquired Georgibelle Business Park, a 102,100-square-foot industrial property in West Houston. The property comprises nine buildings that range in size from 3,798 to 16,800 square feet on a 4.5-acre site. Nick Spearman represented Pagewood in the transaction on an internal basis. Justin Patchen represented the seller, Buffalo Real Estate Partners, also on an internal basis. Texas First Bank provided acquisition financing for Pagewood, which plans to implement a value-add program at the park.
VISTA, CALIF. — Hana Roads Holdings LLC has completed the disposition of an industrial building in Vista to Dangra Inc. for $8.8 million, or $250 per square foot. Vista is in northern San Diego County. Matt Pourcho, Anthony DeLorenzo, Matt Harris and Casey Sterk of CBRE’s Investment Properties team represented the seller, while Sam Sukut of Matthews Real Estate represented the buyer in the deal. Located at 2350 Oak Ridge Way, the building features 25,969 square feet of warehouse space and 9,500 square feet of office space, with 24-foot clear heights. Built in 1999, the building was renovated in 2012 to add a rooftop solar system that fully powers the building.
ELWOOD, ILL. — PGIM Real Estate has provided a $74.5 million loan for the acquisition of a three-property industrial portfolio in Elwood, about 40 miles southwest of Chicago. The fully leased buildings total 1.7 million square feet and are located within the CenterPoint Intermodal Center. The properties feature access to the BNSF intermodal terminal. PGIM provided the fixed-rate financing on behalf of Stonepeak.
NAPERVILLE, ILL. — Phoenix Closures Inc. has sold its former corporate headquarters and manufacturing facility located at 1899 Highgrove Lane in the Chicago suburb of Naperville. The buyer, Amerikoa Ingredients, is a natural and sustainable ingredients distributor that is relocating from Melrose Park. Built in the late 1970s, the 113,124-square-foot building features BNSF rail access. Jeff Blake of DarwinPW Realty/CORFAC International represented the seller, while Todd Heine of Colliers represented the buyer.
THOMASTON, GA. — Brightmark LLC, a recycling solutions company based in San Francisco, has announced plans for a $950 million recycling facility project in Thomaston, about 65 miles south of Atlanta. Upon completion, the “circularity center” will comprise 2.5 million square feet with the capacity to repurpose 400,000 tons of plastic per year. According to the company, the project will create 200 advanced manufacturing jobs in the central Georgia area. Plans include a $20 million investment in additive infrastructure in Thomaston, with upgrades to utilities, roadway improvements, rail access extensions and other improvements.
GARNER, N.C. — Johnson Brothers Mutual Distributing, a wine and beer distributor, has broken ground on a 625,000-square-foot industrial building in Garner, a southern suburb of Raleigh. Upon completion, the property will feature 40-foot clear heights with dock-high, drive-in doors and trailer parking. Johnson Brothers plans to relocate and occupy 420,000 square feet at the development in early 2026. Jim Allaire and Alexis Lambeth of Foundry Commercial will lease the remaining 205,000 square feet. LS3P designed the project, and Evans is the general contractor, with DCI serving as project manager.
MIDLOTHIAN, TEXAS — Marcus & Millichap has brokered the sale of Lakeridge Self Storage, a 564-unit facility located in the southern Dallas suburb of Midlothian. The property, which totals 59,517 net rentable square feet, was built in 2005 and expanded by roughly 20 percent in recent years. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a locally based private investor, in the deal. The duo also procured the buyer, an Austin-based investment group that plans to renovate the facility.
HOUSTON — CBRE has negotiated a 273,480-square-foot industrial lease within Beltway 35 Business Park in southeast Houston. The tenant, global shipping and logistics firm Wallenius Wilhelmsen, is taking space at Building 2, a cross-dock facility that features 48 dock doors and parking for 245 cars and 72 trailers. Quinten Davis and Hoan Le of CBRE represented the tenant in the lease negotiations. JLL represented the landlord, Greystar Real Estate Partners.
AUSTIN, TEXAS — California-based investment firm KBS has sold SouthTech Business Center, a 260,112-square-foot light industrial property in South Austin. SouthTech Business Center consists of four buildings on a 20.2-acre site. Each building features 21-foot clear heights and 145-foot truck court depths. Trent Agnew, Charles Strauss, Lance Young and Brooke Petzold of JLL represented KBS in the transaction. MIG Real Estate represented the buyer, an undisclosed 1031 exchange investor. The property was 93 percent leased at the time of sale.
ARGYLE, TEXAS — Storage King USA, the self-storage arm of New York City-based investment firm Andover Properties, has completed a 232-unit expansion of its facility in Argyle, located in Denton County. The project added 38,500 net rentable square feet of climate-controlled and non-climate-controlled space, as well as 5,750 square feet of flex space. The facility, which also offers enclosed and covered storage options for boats and RVs, now totals 865 units.