GARLAND, TEXAS — SRS Real Estate Partners has arranged the sale of a 74,758-square-foot industrial building in the northeastern Dallas suburb of Garland. The building is one of two at the 194,000-square-foot Marquis Logistics Center, which was delivered earlier this year. Shannon Johnston and Joseph Cooper of SRS represented the seller, Reserve Capital Partners, which developed the larger project in partnership with Trinity Investors, in the transaction. Peirce Williams and Frank Bullock of Henry S. Miller represented the buyer, Kandi America, a manufacturer of electric off-road vehicles.
ARLINGTON, TEXAS — Lee & Associates has negotiated a 22,200-square-foot industrial lease in Arlington. According to LoopNet Inc., the building at 1208 Commercial Blvd. N was built on 1.2 acres in 1995 and features 20-foot clear heights, two dock-high doors and three drive-in doors. Stephen Williamson of Lee & Associates represented the landlord, CPL Investments, in the lease negotiations. Eddie Yoo of Landmark Realty Group represented the tenant, logistics firm B.R. International USA.
ST. LOUIS — Boeing has selected a joint venture between PARIC Corp. and Barton Malow to build a 1 million-square-foot expansion of its “Air Dominance” production site near the St. Louis Lambert International Airport. Construction of the various facilities is expected to employ 1,200 construction craft workers over the course of the program. Pre-construction planning efforts are underway, with initial construction estimated to begin in the first quarter of 2024. The project team also includes Arch Key/Sachs, icon Mechanical, Murphy Mechanical, PayneCrest Electric and Shannon & Wilson. Industrial Project Innovation is the owner’s representative, and Jacobs will provide engineering services.
PHILADELPHIA — JLL has arranged a $33.5 million loan for the refinancing of a portfolio of 10 industrial properties totaling 443,488 square feet in the Philadelphia metro area. The portfolio was fully leased at the time of sale to a mix of local and national tenants, including Boeing and Fiserv. Building features include clear heights ranging from 16 to 22 feet and a total of 82 dock-high doors, 15 drive-in doors and 768 parking spaces. Michael Klein, Steven Klein, Ryan Ade and Ryan Carroll of JLL arranged the five-year, fixed-rate loan through Securian Financial on behalf of the borrower, Wharton Industrial.
MORRISVILLE, N.C. — King Street Properties and BE&K Building Group have topped out the second building in Phase I of Pathway Triangle, an advanced manufacturing campus underway in Morrisville, a western suburb of Raleigh. The 75-acre project will span 1 million square feet of space and represent a total investment north of $1 billion, according to the property website. The first building in Phase I is a 160,000-square-foot building that is set to open this year. The second building will span 200,000 square feet and be delivered in early 2024. Other facilities planned for the first phase include a 140,000-square-foot research-and-development building and an 8,000-square-foot amenity center. CBRE | Raleigh handles the leasing assignment at Pathway Triangle. King Street has a similar campus underway in Devens, Mass., that is home to three tenants and also branded under the Pathway concept.
NASHVILLE, TENN. — Chicago-based Brennan Investment Group has acquired a 75,000-square-foot distribution facility located at 565 Brick Church Park Drive in Nashville. The seller and sales price were not disclosed. Situated on a 5.3-acre site five miles north of downtown Nashville, the property was fully leased at the time of sale to locally based AllParts Medical, a division of Philips Healthcare that uses the facility to stock, test, repair and distribute more than 60,000 replacement parts used in high-end medical tools. Built in 1996 and renovated in 2019, the infill building features a 135-foot truck court, 24-foot maximum clear heights, LED lighting, climate control and 12,500 square feet of office space. The facility was formerly used as a studio for the TV show “Nashville.” The 565 Brick Church Park property represents Brennan’s fourth acquisition in the Nashville market since 2019.
CEDAR HILL, TEXAS — Lee & Associates has negotiated a 56,965-square-foot industrial lease in Cedar Hill, a southern suburb of Dallas. The tenant, Lakawana Realty Development, is taking space at Building 3 at High Point 67 Logistics Center, a 184-acre, 2 million-square-foot development by Hillwood. Stephen Williamson of Lee & Associates represented the tenant in the lease negotiations. Kacy Jones, Brian Gilchrist and Steve Koldyke of CBRE represented Hillwood.
DENVER — Malman Commercial Real Estate has arranged the sale of an industrial property located at 890 Navajo St. in Denver’s Lincoln Park neighborhood. GS Navajo LLC sold the asset to 890 Navajo LLC for $4.1 million. The property features 56,160 square feet of industrial space. Jake Malman of Malman Commercial Real Estate represented the seller in the deal.
GLENDALE, ARIZ. — Saddle Creek Logistics Services has signed a deal to occupy a 570,080-square-foot industrial building in Glendale. The tenant is a third-party logistics company specializing in designing and delivering omnichannel logistics solutions for manufacturers, retailers and ecommerce companies. Ladson Montgomery, Rob Stephens and Chase Gabriel of Newmark represented the tenant in the deal. The name of the landlord was not released. The 620-foot-deep building features 40-foot clear heights, 87 dock-high doors, four large grade-level doors, 190-foot concrete truck courts, 132 trailer parking stalls with 89 future trailer stalls, and 356 auto parking stalls. The building also offers clerestory windows, energy-efficient LED lighting, an ESFR fire sprinkler system, two existing groundwater wells in the business center and heavy industrial zoning.
HANOVER PARK AND WARRENVILLE, ILL. — Associated, a storage and order fulfillment solutions company, has signed two office and industrial leases totaling 178,477 square feet in metro Chicago. The tenant signed a long-term lease to occupy the entire building at 6450 Muirfield Drive in Hanover Park. The property features 160,419 square feet of industrial space, inclusive of 10,000 square feet of office space. With this lease signing, Associated marks the establishment of a new operations facility and doubles its footprint in Chicagoland. The property will house the company’s warehouse operation as well as material handling equipment sales, service, parts and rental functions. In the second transaction, Associated signed a lease for a move-in ready office sublease at 4101 Winfield Road in Warrenville. The space totals 18,058 square feet. Corey Chase of Newmark represented Associated in both leases. Brian Colson and Brian Pomorski of Avison Young represented the landlord for the Hanover Park property, while Josh Feldman of Cushman & Wakefield represented the sublandlord in the Warrenville space.