MAGNOLIA, TEXAS — Locally based brokerage firm Oxford Partners has negotiated a 12,000-square-foot industrial lease renewal in Magnolia, a northwestern suburb of Houston. According to LoopNet Inc., the building at 327 Magnolia Business Park Drive was built in 2003 and spans 17,145 square feet. Jeffery Arnaud of Oxford Partners represented the tenant, J2 Fabrication, in the lease negotiations. The landlord was not disclosed.
FORT WORTH, TEXAS — Construction equipment supplier Buyers Barricades has signed a 7,200-square-foot industrial lease renewal at Riverbend Business Park in Fort Worth. The 32-building, 1.4 million-square-foot development is located on the city’s east side. William Wilson and George Jennings with Holt Lunsford represented the landlord, Riverbend Properties, in the lease negotiations. The representative of the tenant was not disclosed.
BURLINGTON, N.J. — Lee & Associates has secured a 478,000-square-foot industrial lease in the Southern New Jersey city of Burlington. The tenant is an undisclosed, international logistics company that will occupy the entirety of the building at 1620 River Road, which is located within Burlington Industrial Park. According to LoopNet Inc., the building was constructed in 2016 and features a clear height of 36 feet, 96 dock doors, four drive-in doors, 5,000 square feet of office space and parking for 179 cars and 72 trailers. Drew Maffey, Rick Marchisio and Michael Lee of Lee & Associates represented the tenant in the lease negotiations. Nate Demetsky of JLL represented the landlord.
HOUSTON — Dallas-based investment firm Sealy & Co. has acquired The Great 290 Distribution Center, a newly built, 500,840-square-foot industrial property located near the intersection of The Grand Parkway and I-290 in northwest Houston. Designed by Powers Brown Architecture and developed by Pagewood, The Great 290 Distribution Center occupies 41 acres within a 64-acre site, allowing tenants additional space for outdoor trailer parking or materials storage. The property was fully leased at the time of sale to HVAC systems provider Daikin Comfort Technologies. Trent Agnew and Charlie Strauss of JLL represented Pagewood in the transaction. Sealy & Co. was self-represented.
LEANDER, TEXAS — Locally based firm Freehill Development Co. has broken ground on Hero Way West, a 227,200-square-foot industrial project in the northern Austin suburb of Leander. The development will consist of three shallow-bay buildings that will range in size from 24,500 to 129,000 square feet. The buildings will feature 28-foot clear heights and will be situated on a 16.8-acre site. JLL arranged construction financing and joint venture equity for the project, and Transwestern has been appointed as the leasing agent. Construction is expected to last about 12 months.
FORT WORTH, TEXAS — Green Courte Partners, a Chicago-based real estate private equity firm, has acquired a 40-acre industrial outdoor storage site in Fort Worth. The parcel is located at 5301 Wilbarger St. on the city’s southeast side. Green Courte plans to operate the site as a managed truck storage facility. The land seller was a joint venture between Timber Hill Group and Champion Realty Advisors. The sales price was not disclosed.
FORT WORTH, TEXAS — Ambiance Textiles has signed a 14,775-square-foot lease renewal in Fort Worth. The 49,130-square-foot industrial flex building at 200 N. Vacek St. is located on the northwest fringe of the downtown area and was originally constructed in 1950, according to LoopNet Inc. David Cason and Jake Neal of Holt Lunsford Commercial represented the tenant in the lease negotiations. The landlord was not disclosed.
READING, PA. — Cushman & Wakefield has brokered the sale of a 250,955-square-foot distribution center in Reading, about 60 miles northwest of Philadelphia. The property at 615 Aviation Road features 10,383 feet of office space, a clear height of 32 feet, 58 dock doors, 15 van dock doors and 10 drive-in doors. Chris Sheldon, Gerry Blinebury and Brendan McGeary of Cushman & Wakefield represented the developer and seller, SunCap Property Group, in the transaction. The buyer and sales price were not disclosed. At the time of sale, the property was fully leased to an undisclosed transportation and logistics company.
LAS VEGAS — Ares Management and CapRock Partners have completed the disposition of Spanish Ridge Industrial Park in Las Vegas. EastGroup Properties bought the Class A facility for $54.8 million. Spanish Ridge consists of three single- and multi-tenant buildings totaling 230,899 square feet in the southwest of the city. The park’s 133,075-square-foot, 75,836-square-foot and 21,988-square-foot buildings feature clear heights ranging from 24 feet to 30 feet, ESFR sprinklers, warehouse evaporative coolers, ample power, 128-foot to 180-foot concrete truck courts, and a combined 50 dock-high doors and 11 grade-level doors. Additionally, the park offers five office spaces totaling 2,000 square feet. At the time of sale, the property was fully leased to five investment-grade credit tenants. The industrial park is located at 5425 and 5365 S. Riley St. and 8875 W. Hacienda Ave. Andrew Briner and Bret Hardy of Newmark represented the sellers, with support from Rob Lujan and Jason Simon of JLL’s Industrial Las Vegas office. Terms of the deals were not disclosed.
MCCOOK, ILL. — Tru Vue, a manufacturer of glazing products for the custom picture framing, museum, photography, technical glass and acrylic markets, has renewed its 299,200-square-foot industrial lease at 9400 W. 55th St. in McCook, an industrial suburb of Chicago. Fischer and Co. and Tom Condon of Lee & Associates represented the tenant. Terry Grapenthin and Ryan Earley of Lee & Associates represented the owner, High Street Logistics Properties.