HENDERSON, COLO. — Marcus & Millichap has arranged the sale of an industrial asset located at 8777 Brighton Road in Henderson. Terms of the transaction were not released. Situated on 3.5 acres, the three-building property offers a total of 52,550 square feet of industrial space with 11 units, solar panels and a standalone office facility. Alyssa Tomback and Thimy Moraitis of Marcus & Millichap’s Denver office represented the seller and buyer, both private investors, in the deal.
GAFFNEY, S.C. — Glenstar has secured $38.2 million in construction financing for the development of the first phase of an industrial park in Gaffney. CrossHarbor Capital Partners provided the financing. Upon completion, the property, which is being developed by Glenstar and capital partner Creek Lane Capital, will total 3.6 million square feet across five buildings. The first phase of the park, which has been dubbed Cherokee Commerce Center 85 (CCC-85), will comprise a 555,520-square-foot building expandable to 1.3 million square feet. The building, known as 2A, will feature 232 dock doors, four drive-in doors, 540 parking spaces and 452 trailer spaces. Completion is scheduled for fall 2024. Subsequent phases of CCC-85 will include four additional warehouses totaling 1.7 million; 252,270; 278,200; and 211,640 square feet, respectively. The project team includes general contractor The Conlan Co., architect Ware Malcomb and civil engineer SeamonWhiteside. John Montgomery, Garrett Scott, Brockton Hall and Dillon Swayngim of Colliers will manage leasing at the property on behalf of ownership.
DELRAY BEACH, FLA. — BBX Logistics Properties and PCCP have formed a joint venture to develop BBX Park at Delray, a 672,533-square-foot logistics campus in Delray Beach. The joint venture has acquired 40 acres along U.S. Highway 441 for the project. Upon completion, the property will feature three buildings, with the first phase comprising a 200,000-square-foot building. Construction is scheduled to begin in the first quarter of 2024. BBX has contributed $2.9 million to the joint venture and plans to expend an additional $2.5 million in development costs.
SALISBURY, N.C. — Halstatt Real Estate Partners and Tectonic Real Estate will develop a two-building industrial property totaling 614,220 square feet in Salisbury. Upon completion, the campus will feature 60-foot speed bays in both buildings, as well as 505 parking spaces and 165 trailer spaces. A construction timeline was not disclosed.
ROUND ROCK, TEXAS — Newmark has negotiated a 44,680-square-foot industrial lease extension at Corridor Park I in Round Rock, a northern suburb of Austin. The tenant, Benchmark Electronics, is also expanding its footprint at Building 6 of the development. Sherry Gubera and Joshua LaFico of Newmark represented the tenant in the lease negotiations. JLL represented the landlord.
BRISTOL, PA. — Chicago-based investment firm Venture One Real Estate has acquired a 61,488-square-foot industrial building in Bristol, a northeastern suburb of Pennsylvania. Constructed in 1988, the single-tenant building is situated within Keystone Industrial Park and features a clear height of 20 feet, 11 exterior docks, one drive-in door and 5,331 square feet of office space. The seller was not disclosed. The building was leased on a short-term basis at the time of sale. Cushman & Wakefield will handle future leasing initiatives.
GLENVIEW, ILL. — California-based Upside Foods, which produces lab-grown meat from animal cells, has unveiled plans to build its first commercial factory in Glenview, a northern suburb of Chicago. Called Rubicon, the facility will total 187,000 square feet. The factory will start by producing ground cultivated chicken products, with plans to expand to other species and formats in the future. Upside Foods will be the first tenant at the industrial park that is currently under construction at the site of the former Allstate corporate campus, according to Crain’s Chicago Business. Upside Foods says it is investing $140 million in the Midwest region and creating more than 75 new jobs.
EDGERTON, KAN. — Contegra Construction Co. has started construction of Inland Port 9, a 1 million-square-foot distribution center located in the Kansas City suburb of Edgerton. NorthPoint Development is leading the the project, which is situated within Logistics Park Kansas City (LPKC), a 3,000-acre, master-planned development that was launched 10 years ago. Inland Port 9 will feature a clear height of 40 feet, 100 dock doors and four drive-through doors. The building will also include flexible space for a single tenant or multiple tenants with options for office space. The facility includes eight make-up air units and exhaust fans, as well as 14 high-volume, low-speed fans for continuous air circulation. Parking will be available for 479 cars and 352 trailers. The project is scheduled for completion in February 2024. LPKC is a rail-served facility approximately 25 miles southwest of downtown Kansas City. The park currently hosts more than 14.4 million square feet of industrial space and has the capacity for a total of 30 million square feet. BNSF Railway’s intermodal facility anchors the property. Inland Port 9 will be the second distribution center that Contegra has built at LPKC. The company previously constructed an 850,000-square-foot project for Northpoint Development at the …
CHARLOTTE, N.C. — Faropoint has purchased a three-property industrial portfolio in Charlotte for $33 million. The infill assets include a 45,750-square-foot facility at 4112 Joe St., a 200,000-square-foot building at 2101 Westinghouse Blvd. and a 67,200-square-foot property at 9701 Brookford St. Patrick Gildea, Robert Hardaway, Matt Smith, Grayson Hawkins, Anne Johnson, Bryan Crutcher, Trey Barry and Frank Fallon of CBRE represented the seller, Beacon Partners, in the transaction. Hoboken, N.J.-based Faropoint entered the Charlotte market earlier this year with the acquisition of a 56,846-square-foot facility at 10000 Industrial Drive in Pineville, N.C. Last year, Faropoint entered the Baltimore and Long Island industrial markets. Next year, the company plans to expand its footprint to the West Coast.
DALLAS — Lee & Associates has negotiated a 28,562-square-foot industrial lease in northwest Dallas. The building at 10701 N. Stemmons Freeway totals 83,370 square feet. Adam Graham and Ken Wesson of Lee & Associates represented the landlord, Mississippi-based EastGroup Properties, in the lease negotiations. The tenant was Baker Distributing Co. No other third-party brokers were involved in the deal.
