Tuesday, April 29, 2025
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Industrial

Cove-Logistics-Center-Phoenix-AZ
ArizonaDevelopmentIndustrialWestern

Wespac Construction Completes 99,498 SF Cove Logistics Center in Phoenix

by Amy Works

PHOENIX — Wespac Construction has completed Cove Logistics Center, an industrial development at the southwest corner of Van Buren Street and 37th Avenue in Phoenix. The company worked with Deutsch Architecture Group and ViaWest Group on the project. The 99,498-square-foot Cove Logistics Center offers two high-end speculative suites. The project scope also included full-scale underground infrastructure, advanced stormwater retention systems, the construction of truck courts and a new parking lot.

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FloridaIndustrialLeasing ActivitySoutheast

Ian Black Real Estate Signs Video Game Developer to 23,349 SF Industrial Lease in Nokomis, Florida

by John Nelson

NOKOMIS, FLA. — Ian Black Real Estate has signed video game developer Combat Waffle Studios to a 23,349-square-foot industrial space in Nokomis, about 17 miles south of Sarasota. Located at 195 Triple Diamond Blvd., the original office building was converted into a warehouse to provide room for development meetings, VR testing areas and motion capture and security-focused development zones. The property was also pre-wired for fiber-optic internet services. Additionally, Combat Waffle Studios will make minor repairs to the space, including new flooring, lighting and paint, according to the Tampa Bay Business Journal. The space was formerly occupied by drinkware brand Tervis, which vacated the property in January as part of the company’s consolidation. Combat Waffle Studios, which is backed by Facebook and Instagram parent company Meta and produces the popular video game “Ghosts of Tabor,” is expected to have 100 employees working from the space. Nick DeVito II and Brie Tulp of Ian Black Real Estate represented the landlord, an entity doing business as 201 Triple Diamond Holdings LLC, in the lease transaction.

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AcquisitionsIllinoisIndustrialMidwest

Coldwell Banker Commercial Arranges $11.5M Sale of Warehouse in Champaign, Illinois

by Kristin Harlow

CHAMPAIGN, ILL. — Coldwell Banker Commercial Devonshire Realty (CBCDR) has arranged the $11.5 million sale of a 182,084-square-foot warehouse in Champaign. The 30-acre property is located at 2802 Bloomington Road. AJ Thoma III of CBCDR represented the seller, Ravel Properties LLC. The intended use of the space is for an agricultural chemical company.

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AcquisitionsIllinoisIndustrialLee & AssociatesMidwest

Lee & Associates Brokers Sale of 34,078 SF Industrial Building in Itasca, Illinois

by Kristin Harlow

ITASCA, ILL. — Lee & Associates has brokered the sale of a 34,078-square-foot industrial building in Itasca for an undisclosed price. Located at 1170 Ardmore Ave., the property features multiple bridge cranes, a temperature-controlled warehouse and heavy power. Chris Nelson and Jeff Janda of Lee & Associates represented the seller, Tech-Max Machine Inc., a large parts manufacturing company that will expand into a larger facility in Itasca. Melody Mueller of Compass represented the buyer, Pulsarlube USA Inc., an Elk Grove Village-based company that specializes in single-point automatic lubrication.

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DevelopmentIndustrialSoutheastVirginia

Brinkmann, Crescent Communities Break Ground on 331,000 SF Industrial Project in Rockville, Virginia

by John Nelson

ROCKVILLE, VA. — A partnership between Brinkmann Constructors and Crescent Communities has broken ground on Axial Rockville 64, a 331,000-square-foot industrial project located just under two miles from I-64 and Va. Highway 288 in Rockville. The project is situated on 29 acres and will feature two rear-load buildings that measure 154,100 square feet and 181,220 square feet. Additionally, the development will include 301 auto parking spaces, 53 trailer parking spaces, 81 dock-high doors and expansive truck courts. DMA Architecture PLLC is the project architect.

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15716-Wolff-Crossing-Fort-Worth
IndustrialLoansTexas

PCCP Provides $72.4M Acquisition Loan for Two Industrial Buildings in North Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Los Angeles-based PCCP LLC has provided a $72.4 million acquisition loan for a pair of industrial buildings totaling roughly 1.1 million square feet in North Fort Worth. The structures, which were constructed in 2021 within the Elizabeth Creek Gateway development, are known as Buildings D and E and feature 36-foot clear heights in addition to excess trailer parking. The buildings were both fully leased at the time of the loan closing to three total tenants. The sponsor is an affiliate of Minneapolis-based WPT Capital Advisors. Trent Agnew, Senior Director Tom Weber, Director Pauli Kerr and Analyst Andrew Griffin. Trent Agnew, Tom Weber, Pauli Kerr and Andrew Griffin of JLL represented the undisclosed seller in the disposition of the buildings.

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IllinoisIndustrialLeasing ActivityLee & AssociatesMidwest

Roadtex Transportation Signs 90,655 SF Industrial Lease Renewal in Woodridge, Illinois

by Kristin Harlow

WOODRIDGE, ILL. — Roadtex Transportation has signed a 90,655-square-foot industrial lease renewal at 2725 Davey Road in the Chicago suburb of Woodridge. The property, located in the Woodhill Crossings Business Park, features immediate access to I-55. Kenneth Franzese, John Cassidy and Jeff Galante of Lee & Associates of Illinois, along with James Cant of Fischer & Co., represented the tenant. Sean Henrick of Cushman & Wakefield represented the owner, Bristol Group.

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AcquisitionsIndustrialTexas

Dalfen Industrial Acquires 130,000 SF Property Near DFW International Airport

by Taylor Williams

IRVING, TEXAS — Locally based investment and development firm Dalfen Industrial has acquired a 130,000-square-foot property that is located about three miles south of DFW International Airport in Irving. The cross-dock facility was built in 2016 and features 32-foot clear heights and 130- to 185-foot truck court depths, as well as proximity to State Highways 360, 161 and 183. The seller and sales price were not disclosed. The deal traded off-market.

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AcquisitionsIndustrialTexas

Finial Group Negotiates Sale of 12,000 SF Warehouse in East San Antonio

by Taylor Williams

SAN ANTONIO — Houston-based brokerage firm Finial Group has negotiated the sale of a 12,000-square-foot warehouse located at 4223 Dividend Road on the east side of San Antonio. According to LoopNet Inc., the building was constructed in 2018 and features 22-foot clear heights. Chase Tucker, Jack Gaffney, and William Alcorn of Finial Group represented the undisclosed seller in the transaction.

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AcquisitionsIndustrialNew JerseyNortheast

Camber, Invesco Buy 384,335 SF Industrial Portfolio in Southern New Jersey

by Taylor Williams

HAINESPORT AND LUMBERTON, N.J. — A partnership between New Jersey-based Camber Real Estate Partners and Atlanta-based global investment manager Invesco has acquired a portfolio of five industrial buildings totaling 384,335 square feet in Southern New Jersey. The buildings, which were originally developed by Whitesell Real Estate Group, are located off Exit 5 of the New Jersey Turnpike in Hainesport and Lumberton and feature clear heights of 30 feet. Michael Hines, Joe Hill and Brad Ruppel of CBRE represented the seller in the transaction.

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