KILLEEN AND EDINBURG, TEXAS — Marcus & Millichap has brokered the sale of two Texas self-storage facilities totaling 802 units. Hallmark Mini Storage, located in the Central Texas city of Killeen, was built on 2.4 acres in 2002 and totals 36,350 net rentable square feet of space across eight buildings and 275 units. Superior Self Storage, located in the Rio Grande Valley city of Edinburg, was built on 3.9 acres in 2004 and totals 50,692 net rentable square feet of space across seven buildings and 527 units. The properties traded as part of a portfolio deal that included a 294-unit facility in Las Cruces, N.M. Stacey Gorman, Sam Slocum and Grace Folger of Marcus & Millichap represented the undisclosed seller in the transaction. The trio also collaborated with Marcus & Millichap’s Cameron Bradford to procure the buyers. An undisclosed investment group purchased Hallmark Mini Storage, and Wentworth Property Co. bought Superior Self Storage.
EL PASO, TEXAS — Realterm, a Maryland-based investment manager focused on the transportation industry, has purchased a 34.1-acre industrial outdoor storage (IOS) facility in El Paso. Developed in 2017, the facility at 11090 Gateway Blvd. features 14,148 square feet of maintenance shop space with six drive-thru bays, 12,684 square feet of office space and 3,800 square feet of warehouse space with four dock doors for transloading. The facility was fully leased at the time of sale to TFA Logistics. The seller and sales price were not disclosed.
PHOENIX — Gantry has secured $16.3 million in financing for a private real estate investor for the acquisition of two buildings located at 950 and 960 W. Behrend Drive in Phoenix. The properties offer 124,308 square feet of industrial and office space. Tim Storey, Adam Parker, Chad Metzger and Andrew Christopherson of Gantry’s Phoenix office arranged the five-year, fixed-rate loan through a regional bank. The loan features two years of interest-only payments while the property stabilizes and then transitions to a 30-year amortization.
WATERLOO, IOWA — TVS Supply Chain Solutions has opened its new 225,113-square-foot, build-to-suit facility in Waterloo. Developed in partnership with ElmTree Funds and Ryan Cos. US Inc., the project features 6,800 square feet of office space, a driver’s lounge, 30 loading dock doors and two drive-in doors. TVS’s first Iowa facility is in Iowa City. Ryan is also building another 225,000-square-foot property for TVS in Davenport that is scheduled for completion in October. Ryan served as developer and builder of the Waterloo facility, and Ryan A+E Inc., Ryan’s design studio, served as the architect. ElmTree served as facility owner and financier.
PLAINFIELD, IND. — Chicago-based HSA Commercial Real Estate has inked a new 68,486-square-foot industrial lease with home furnishings retailer Ashley DSG at Gateway Industrial V in Plainfield near the Indianapolis International Airport. The deal returns the 262,758-square-foot building in HSA’s Gateway Business Park to full occupancy. Memphis, Tenn.-based Ashley DSG maintains 166 locations in the United States and Canada. The company will use its space at Gateway V to warehouse and distribute home furnishings. The lease is a relocation and expansion from the company’s existing location in the Indianapolis area. HSA oversaw tenant improvements, including racking and upgrades to the truck dock area. Developed on a speculative basis and delivered in 2019, Gateway V features a clear height of 32 feet, 30 truck docks, four drive-in doors, 185 parking stalls and 70 trailer positions. The warehouse is also home to auto glass distributor Mygrant Glass Co., Paris-based aerospace firm Safran Nacelles and transplant solutions provider LifeNet. Tom Niessink of Niessink Commercial Real Estate represented Ashley DSG in the lease. Terry Busch and Jared Scaringe of CBRE represented ownership.
CHICAGO — Related Midwest and CRG have broken ground on the Illinois Quantum & Microelectronics Park (IQMP), the first phase of Quantum Shore Chicago, a 440-acre, master-planned technology and innovation district along the Chicago lakefront. The project is located on the former U.S. Steel South Works site at 8080 S. DuSable Lake Shore Drive in the South Chicago neighborhood. The co-developers are receiving financing from funds managed by Blue Owl Capital on both the land acquisition and vertical development of facilities for IQMP’s anchor tenant, PsiQuantum, a Palo Alto, Calif.-based company with a mission “to build and deploy the world’s first useful quantum computers.” Quantum computing utilizes quantum mechanics to solve complex problems such as climate, energy and defense challenges faster than traditional computers. Created through a public-private partnership with State of Illinois and federal agencies, IQMP will occupy 128 acres on the southern end of the development site. In addition to PsiQuantum’s 80,700-square-foot office and research facility — the first of several buildings the firm will eventually occupy — the campus will include a cryoplant (a facility that uses extremely low temperatures to produce gases like liquid helium and nitrogen for high-tech applications) and equipment labs, as well as …
— By Andrew Hitchcock of CBRE — The Puget Sound industrial market is showing signs of modest recovery through the first half of 2025. Tenants are increasingly seeking flexible leases, renewing in place and right-sizing operations, resulting in smaller or more cautious leasing commitments rather than long-term deals. Shifts in port activity have also affected leasing decisions, exacerbated by the raft of universal tariff announcements in April. While some submarkets have regained momentum after a slow start, demand across the region is still uneven, with lingering uncertainty keeping vacancy rates elevated. Submarkets demonstrating momentum include Tacoma, which recorded 308,153 square feet of positive net absorption in the second quarter, alongside notable third-party logistics provider (3PL) leasing activity. The Seattle Close-In area also saw vacancy decrease to 9.3 percent, driven by healthy tenant demand from companies like Evergreen Goodwill and South West Plumbing. Conversely, Kent Valley faced challenges. The vacancy rate climbed to 8.4 percent due to significant speculative deliveries that outpaced absorption and traditional users downsizing. Port activity temporarily dampened demand, compounded by a 21.2 percent year-over-year drop in international imports in May. This reflects uncertainty surrounding future tariff rates. On the plus side, year-to-date container volumes remain above 2024 …
HOUSTON — A joint venture between Chicago-based Brennan Investment Group and Los Angeles-based PCCP LLC has purchased a 1.3 million-square-foot industrial park in northwest Houston in a short-term sale-leaseback. The development, which will soon be vacant, comprises 16 buildings that range in size from 11,000 to 450,000 square feet on a 126-acre site. Constructed between 1999 and 2018, the buildings feature HVAC-equipped warehouses, bridge cranes, heavy power capacities, industrial outdoor storage space and above-standard clear heights. Brennan and PCCP acquired the property from subsea oil and gas equipment manufacturer Innovex. John Ferruzzo of KBC Advisors brokered the deal.
HOUSTON — Colliers has negotiated a 48,000-square-foot lease in the Jersey Village area of northwest Houston. According to LoopNet Inc. the building at 7420 Security Way was built in 2006 and totals 191,594 square feet. Barrett Gibson and David McMahon of Colliers represented the tenant Hospitality Solutions Inc., which also recently subleased 26,847 square feet of space in North Houston to an unnamed user, in the lease negotiations. The name and representative of the landlord were not disclosed.
SAN DIEGO — JLL Capital Markets has arranged $102.4 million in construction financing for the first phase of Otay Business Park, a speculative Class A industrial development in San Diego’s Otay Mesa submarket. The borrower is a joint venture between Elevation Land Co. and a real estate fund advised by Crow Holdings Capital. Aldon Cole and Ben Choromanski of JLL Capital Markets arranged the three-year, floating-rate loan through New York Life Real Estate Investors for the borrower. Phase I of Otay Business Park will deliver 612,240 square feet spanning four freestanding warehouse and distribution buildings, ranging from 79,760 square feet to 233,880 square feet. The single-story, reinforced concrete tilt-up structures will feature 32-foot clear heights and be divisible into suites as small as 45,000 square feet. Upon full build-out, the 119-acre Otay Business Park will feature 1.8 million square feet of industrial space across nine buildings. Construction for Phase I is underway, with completion slated for mid-2026. The project is expected to reach stabilization by mid-2027.