Industrial

Cold Creek Solutions Sells 300,000 SF Cold Storage Facility in San Antonio

by Taylor Williams March 7, 2023

SAN ANTONIO — Cold Creek Solutions, a cold storage developer based in the Dallas-Fort Worth area, has sold a roughly 300,000-square-foot facility located at the intersection of I-10 and Loop 410 in San Antonio. The newly built facility features convertible spaces with temperatures ranging from -20 to 55 degrees Fahrenheit to accommodate a range of food uses. Additional building features include 48-foot clear heights, 45,000 pallet positions and 6,000 square feet of office space. ARCO National Construction served as the general contractor for the project.

March 7, 2023

Development Industrial Texas

Stream Realty Partners Completes 156,483 SF Spec Industrial Project in Houston

by Taylor Williams March 7, 2023

HOUSTON — Stream Realty Partners has completed Raceway Northwest Distribution Center, a 156,483-square-foot speculative industrial project in northwest Houston. The front-load building features 36-foot clear heights, 35 dock-high doors, 109 car parking spaces and 22 trailer parking stalls. In addition, Raceway Northwest Distribution Center offers office space, fully fenced truck courts and quick access to the Sam Houston Tollway and U.S. Highway 290. Stream is also the project’s leasing agent.

March 7, 2023

Acquisitions Industrial Texas

Cypressbrook Negotiates Sale of 25,000 SF Industrial Building in North Houston

by Taylor Williams March 7, 2023

HOUSTON — Cypressbrook Co. has negotiated the sale of a 25,000-square-foot industrial building that sits on a two-acre site within Central Green Business Park in North Houston. According to LoopNet Inc., the single-tenant property at 1950 S. Starpoint Drive was built in 1982. John Hornbuckle of Cypressbrook Co. represented the seller, LuAnn Houston Properties, in the transaction. Wes Cole of Rubicon Representation represented the buyer, an entity doing business as Coral Sea Holdco LLC.

March 7, 2023

Industrial Leasing Activity Texas

International Aviation Firm Signs 23,040 SF Industrial Lease in Dallas

by Taylor Williams March 7, 2023

DALLAS — An undisclosed, international aviation firm has signed a 23,040-square-foot industrial lease at PROTO Park, a 250,000-square-foot industrial facility in the Brookhollow neighborhood of Dallas. Sarah Ozanne and Lena Pierce of Stream Realty Partners represented the landlord, a partnership between Dallas-based M2G Ventures and Austin-based Pennybacker Capital, in the lease negotiations. Ryan Buchanan of CBRE represented the tenant. PROTO Park is now 90 percent leased.

March 7, 2023

Acquisitions Industrial New Jersey Northeast

Fennelly Associates Negotiates $7.7M Sale of Former Industrial Property in Plainsboro, N.J.

by Taylor Williams March 7, 2023

PLAINSBORO, N.J. — Locally based brokerage firm Fennelly Associates has negotiated the $7.7 million sale of an industrial property in Plainsboro, about 50 miles southwest of Manhattan. The facility, which sits on a 31-acre site and totals 50,150 square feet, was originally built in 1957 as a nuclear research facility and subsequently used for pharmaceutical research and development. Jerry Fennelly and Matt Fennelly of Fennelly Associates represented the seller, Turkey Island Corp., in the transaction and procured the buyer, Princeton Life Science Park.

March 7, 2023

Acquisitions California Industrial Western

Dunleer Sells Outdoor Storage Building in Santa Ana, California for $10.5M

by Amy Works March 7, 2023

SANTA ANA, CALIF. — Dunleer, a Los Angeles-based private real estate investment and development firm, has completed the disposition of a 2.5-acre industrial outdoor storage parcel that includes a single-story building, located at 4404 W. First St. in Santa Ana. The City of Santa Ana acquired the asset for $10.5 million and plans to use the property for city-related public services. The property features a fenced and secured yard area, a 3,900-square-foot building and quick access to interstates 5 and 405. Keith Greer, Ben Seybold, Sean Ward and Joshua Samuels of CBRE represented Dunleer, while the buyer was self-represented in the transaction.

March 7, 2023

Acquisitions Colorado Industrial Western

Newmark Negotiates $1.8M Sale of Valet Living Industrial Building in Aurora, Colorado

by Amy Works March 7, 2023

AURORA, COLO. — Newmark has arranged the sale of Valet Living, an industrial property located at 15761 E. Centretech Parkway in Aurora. Brandev LLC sold the building to TenBar Inc. for $1.8 million. The asset features 10,048 square feet of industrial space. Chris Nordling of Newmark represented the seller, while Unique Properties represented the buyer in the transaction.

March 7, 2023

Development Industrial Kentucky Loans Southeast

Northmarq Secures $25.3M Construction Financing for Bourbon Barrel Storage Facility in Shelbyville, Kentucky

by John Nelson March 6, 2023

SHELBYVILLE, KY. — Northmarq has secured $25.3 million in financing for the construction of the first two phases of a bourbon barrel storage facility in Shelbyville. Randall Waddell of Northmarq’s Louisville office arranged the fixed-rate loan through a Kentucky-based bank on behalf of the borrower, a joint venture between The Spirits Group and K-RAX. The loan carries a five-year term with three years of interest-only payments followed by a 25-year amortization schedule. Upon completion, the development, situated on 107 acres at 2517 Vigo Road will feature seven rickhouses — each of which will have capacity for 19,800 barrels — and one blending/bottling building.

March 6, 2023

Acquisitions Industrial North Carolina Office Southeast

Insite Arranges Sale of 106,000 SF Flex Portfolio in Charlotte

by John Nelson March 6, 2023

CHARLOTTE, N.C. — Insite Properties has arranged the sale of a three-building flex portfolio in Charlotte on behalf of a joint venture partnership managed by the company. Located at 4324 Revolution Park Drive, 801 Clanton Road and 920 Blairhill Road in the city’s South End district, the properties comprise 106,000 square feet in total. A client of Manchester Capital Management purchased the portfolio, which was 97 percent leased at the time of sale. Insite will manage and lease the properties on behalf of the new ownership. The sales price was not disclosed.

March 6, 2023

Acquisitions Development Industrial Texas

MDH Partners Agrees to Acquire 554,960 SF Industrial Park in El Paso

by Taylor Williams March 6, 2023

EL PASO, TEXAS — Atlanta-based investment firm MDH Partners has entered into an agreement to acquire Loop 375 Industrial, a three-building, 554,960-square-foot development that is nearing completion in El Paso. The site spans 36.7 acres, and the development features 191 trailer parking spaces, 230 car parking spaces and clear heights of 32 to 36 feet. Bret Felberg and Jeff Morris of Colliers represented the seller and developer, Houston-based NIT Industrial, in the transaction. MDH Partners also provided NIT Industrial with mezzanine debt to complete construction. The financing is coterminous with the senior construction loan, which was provided by Veritex Community Bank. CBRE is leasing the development, which is scheduled to come on line this fall.

March 6, 2023

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