TINLEY PARK, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has acquired a 26,173-square-foot industrial building at 18531 Spring Creek Drive in the Chicago suburb of Tinley Park. The property was vacant at the time of acquisition. Situated in the North Creek Business Center, the building offers direct access to I-80 via Harlem Avenue. The property sits on 1.8 acres and features a clear height of 19 feet, two docks, two drive-in doors and parking for 56 vehicles. Venture One plans to make improvements such as office renovations, warehouse painting, parking lot resurfacing and the installation of energy-efficient lighting. Bruce McConnell of Savills represented the seller. Michael O’Leary, Dylan Maher and Ryan Earley of Lee & Associates have been retained to market the building for lease or sale. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group.
— By William (Bill) Froelich of Colliers — s of first-quarter 2025, Oahu’s industrial market remains one of the tightest in the nation — but signs of softening are emerging. Our 41.9 million square foot market reported a vacancy rate of 1.2 percent, the highest in over two years, up from 0.9 percent in fourth-quarter 2024 and a near-record low of 0.6 percent in third-quarter 2023. Net absorption was negative at -115,001 square feet in first-quarter 2025, marking the fifth quarter of negative net absorption in the last six. Despite this, direct weighted average asking base rents reached a new high of $1.56 per square foot per month, reflecting continued landlord leverage in a market with severely constrained supply. Industrial operating expenses also rose, averaging $0.54 per square foot monthly, pushing our gross rents over $2.00 per square foot. Raw Land Market: A Race to Buy Before It’s Gone In a typical year, Oahu absorbs 10 to 20 acres of raw industrial land. But in a short period between the end of 2021 and the first half of 2022, over 100 acres had traded, driven by high-profile acquisitions such as Amazon’s 50-acre purchase and Costco’s 45-acre site purchased for almost …
HOUSTON — A joint venture between Trammell Crow Co. (TCC) and CBRE Investment Management has broken ground on Phase I of Gulfbelt Logistics Park, a speculative industrial project in southeast Houston that will add 498,798 square feet of space across three buildings to the local supply. Phase I will consist of one cross-dock, one rear-load and one front-load building with footprints ranging from 88,750 to 278,858 square feet and with 28- to 36-foot clear heights. Project partners include Burton Construction Co., Powers Brown Architecture and LJA Engineering. Veritex Community Bank is providing construction financing, and CBRE will handle the park’s leasing assignment on behalf of ownership. Completion is slated for next spring.
LEWISVILLE, TEXAS — California-based investment firm Bixby Capital Management has purchased a 241,104-square-foot industrial park in the northern Dallas suburb of Lewisville. Red River Business Park consists of three rear-load buildings with 28- to 32-foot clear heights that are situated on a 19.4-acre site at the intersection of I-35 and State Highway 121. Los Angeles-based PCCP financed the acquisition of the property in conjunction with Bixby’s purchase of a 222,382-square-foot warehouse near Nashville.
LAREDO, TEXAS — Austin-based investment firm Buchanan Capital Partners has acquired an 86,310-square-foot warehouse in the South Texas city of Laredo. According to LoopNet Inc., the building at 172 Interamerica Blvd. was completed earlier this year and offers 29-foot clear heights, 26 dock doors, 52 trailer parking spaces and 3,000 square feet of office space. Buchanan acquired the property in partnership with Frontier Real Estate Partners. The seller and sales price were not disclosed.
HOUSTON — Colliers has negotiated the sale of a 66,500-square-foot industrial outdoor storage facility in northeast Houston. Built in 2008, the facility sits on approximately 15 acres at 9803 Sheldon Road and includes 10 acres of stabilized storage space, four grade-level doors, one dock-high door and 6,000 square feet of office space. Zack Taylor and Todd Moore of Colliers represented the seller in the transaction. Mike Taetz, also with Colliers, represented the buyer. Both parties requested anonymity.
TUCSON, ARIZ. — Kc4e LLC has purchased an industrial building located at 1501 E. 21st St. in Tucson from Kash Property Management for $1.8 million. Paul Hooker and Robert Glaser of Cushman & Wakefield | PICOR represented the seller in the transaction.
BRISTOL, R.I. — Marcus & Millichap has brokered the sale of a 21,570-square-foot warehouse in Bristol, about 20 miles south of Providence. Built in 1986 and fully renovated in 2023, the building at 66 Tupelo St., which was fully leased at the time of sale, features two overhead doors, a loading dock and 62 surface parking spaces. Harrison Klein and Michael Grant of Marcus & Millichap represented seller, an undisclosed private investor, in the transaction and procured the buyer, Colorado-based Playground Properties.
AUSTIN, TEXAS — The concept of locating similar types of commercial real estate uses in close proximity to one another to allow those users to naturally develop synergies — clustering — is an age-old practice in certain asset classes like office, retail and hospitality. But the strategy can make sense for industrial real estate as well, especially in a time in which new subcategories of industrial uses are attracting capital and generating demand for space. Logistics and distribution users, for example, typically identify transportation costs as their top line item on the expense side of the ledger. Those companies have little choice but to pay top dollar for land or space near the rooftops of their existing customer bases so as to minimize transit costs. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Data center users cannot properly and profitably function without access to cheap electricity, hence the ability of Texas to land many of those deals via its deregulated power grid. Suppliers of smaller industrial parts and components are often supported by a handful of major manufacturers, and …
SAN MARCOS, TEXAS — JLL has arranged an undisclosed amount of construction financing for Phase I of San Marcos Business Park, a speculative industrial project that will add 377,300 square feet of space to the local supply. Located within the Whisper South master-planned development, the rear-load building will feature 36-foot clear heights, 75 dock doors, two drive-in doors and an ESFR fire sprinkler system. Matt Stewart, Ace Sudah, Jackson Finch, Jacob Michael and Cameron Sepahi of JLL arranged the loan through an undisclosed regional bank on behalf of the developer, Ledo Capital Group.