FORT WORTH, TEXAS — Dallas-based Leon Capital Group will develop a 261,000-square-foot industrial project in Fort Worth. The site consists of six parcels totaling 15 acres that are located on the north and south sides of Trinity Boulevard on the city’s northeast side. The development will comprise a 123,750-square-foot building and a 137,250-square-foot building, both of which will feature 32-foot clear heights, 135-foot truck court depths and ESFR sprinkler systems. Nancy Halliday and Don Plunk of Emory Associates represented Leon Capital and the four different sellers in the acquisition of the land. Construction is scheduled to begin in the second quarter of 2024.
Industrial
Voit Real Estate Negotiates $11.3M Sale of Harbor Warner Business Center in Santa Ana, California
by Amy Works
SANTA ANA, CALIF. — Voit Real Estate Services has arranged the sale of Harbor Warner Business Center, an industrial business park in Santa Ana. Rexford Industrial sold the asset to a private investment fund for $11.3 million. Located at 2525 S. Harbor Blvd. and 3720-3752 W. Warner Ave., Harbor Warner Business Center features 38,643 square feet of multi-tenant industrial space. At the time of sale, the property was fully leased. Mike Hefner of Voit’s Anaheim office represented the seller and buyer in the transaction. Matt Peters of Voit’s Irvine office represented Rexford in leasing the asset and acted as the local market advisor for the transaction.
DESOTO, TEXAS — RAM Surgical Supplies has signed an 11,799-square-foot industrial lease at Falcon Centre, a 68,098-square-foot complex located in the southern Dallas suburb of DeSoto. Brian Pafford and Michael Spain of Bradford Commercial Real Estate Services represented the landlord, OMO Bros Enterprises, in the lease negotiations. Sarah Mitchell of Mote & Associates represented the tenant, which plans to move in on Jan. 1, 2024.
PISCATAWAY, N.J. — Locally based brokerage firm NAI DiLeo-Bram has arranged two industrial leases totaling 27,500 square feet in the Northern New Jersey community of Piscataway. Stelton Sports signed a deal for 17,500 square feet at 527 Stelton Road with plans to open a recreational facility with four pickleball courts, two badminton courts and batting cages for baseball/softball and cricket. The Commencement Group, a supplier of flowers and graduation-related products, is relocating from Newark to a 10,000-square-foot space at 547 Stelton Road. Kelly Bayer and Robert V. DiLeo of NAI DiLeo-Bram represented ownership in both sets of lease negotiations.
AIC Industrial Acquires 135,000 SF Manufacturing Facility in Metro Memphis in Sale-Leaseback Deal
by John Nelson
OLIVE BRANCH, MISS. — AIC Industrial has acquired a 135,000-square-foot light manufacturing facility located at 11085 Airport Road in Olive Branch, a Mississippi suburb of Memphis near the Olive Branch Airport. Natureplex Properties LLC, a pharmaceutical manufacturer, sold the facility to AIC Industrial in a sale-leaseback deal. Landon Williams and Katie Hargett of Cushman & Wakefield | Commercial Advisors represented the seller in the transaction. As part of the transaction, Austin, Texas-based AIC Industrial signed Natureplex to a long-term lease at the facility. The sales price and lease terms were not disclosed.
MIDLOTHIAN, TEXAS — Dallas-based developer KDC has broken ground on a 422,000-square-foot, build-to-suit distribution center for energy services provider Oncor in Midlothian, a southern suburb of Dallas. The site spans 60.7 acres, and the facility will feature a cross-dock configuration, 36-foot clear heights, interior offices, a break room and training rooms. Alliance Architects designed the project, and Peinado Construction is serving as the general contractor. Delivery is slated for next fall.
FLOWER MOUND, TEXAS — Newmark has negotiated a 41,202-square-foot industrial lease at Prologis Flower Mound 5, a 140,500-square-foot warehouse located in the northern-central part of the metroplex. Reggie Beavan, Chris Mason and Jack Brewer of Newmark represented the tenant, Dallas-based tool kit and test equipment provider Specialty Products Co., in the lease negotiations. The deal brings Prologis Flower Mound 5, which is one of six buildings within the larger development, to full occupancy.
LOGAN TOWNSHIP, N.J. — JLL has arranged a $23 million acquisition loan for a 209,437-square-foot industrial property in the Southern New Jersey community of Logan Township. The warehouse and distribution center was built in 2018 on a site that spans 88 acres, 17 of which can support future development. Building features include clear heights of 36 to 40 feet, 12 dock-high loading doors, two drive-in doors, 10,500 square feet of office space and parking for 336 cars and 22 trailers. Michael Klein, Max Custer and Michael Lachs of JLL arranged the fixed-rate loan through an undisclosed life insurance company on behalf of the borrower, foodstuffs provider Chelten House Products.
PHILADELPHIA — Houston-based developer Lovett Industrial has purchased a 109,000-square-foot manufacturing facility in Philadelphia with plans to redevelop the property as a 176,000-square-foot warehouse and distribution center. The 14.5-acre site is located at the southeast corner of U.S. Highway 1 and Red Lion Road in northeast Philadelphia. The new facility will have a rear-load configuration, clear height of 36 feet, 185-foot truck court depths and ample trailer parking space. Cushman & Wakefield represented the undisclosed seller in the land deal. Lovett Industrial plans to begin demolitions next fall following the current manufacturing tenant’s vacating of the premises in the first quarter of next year.
CRYSTAL AND NORTH SAINT PAUL, MINN. — StorageMart has acquired two self-storage facilities in Crystal and North Saint Paul for an undisclosed price. Both properties will undergo comprehensive updates to align with StorageMart’s standards. Together, the facilities offer 1,564 units and 159,282 square feet of rentable climate-controlled space. Unit sizes range from five-by-five units to 15-by-40 units.