TRENTON, N.J. — NAI Fennelly has brokered the $1.8 million sale of a 27,362-square-foot industrial building located at 480 Lalor St. in Trenton. The building features a clear height of 12 feet and one loading dock. Jerry Fennelly and Matt Fennelly of NAI Fennelly represented the seller, Switlik Survival Products Inc., in the transaction. The buyer was New Jersey-based Howco Management.
FORNEY, TEXAS — Houston-based developer Lovett Industrial has broken ground on Innovation Ridge Logistics Park, a 1.1 million-square-foot speculative project in the eastern Dallas suburb of Forney. The development will consist of an 817,538-square-foot cross-dock facility, a 175,092-square-foot single-load building and a 145,020-square-foot single-load structure. Ware Malcomb designed the project, and Alston Construction is serving as the general contractor. Kimley-Horn is the civil engineer. Simmons Bank provided construction financing, and Cushman & Wakefield is the leasing agent. Completion is slated for September 2023.
CEDAR HILL, COLLEYVILLE AND DENTON, TEXAS — JLL has negotiated the sale of a portfolio of three self-storage facilities totaling 1,743 units that are located in the North Texas cities of Cedar Hill, Colleyville and Denton. The portfolio totals 201,850 net rentable square feet. Brian Somoza, Steve Mellon, Matthew Wheeler, Adam Roossien and Jake Kinnear of JLL represented the seller, a joint venture between Chicago-based investment firm Harrison Street and Advantage Self Storage, in the transaction. The team also procured the buyer, Texas-based investment firm HPI.
SPARTANBURG, S.C. — Kansas City-based NorthPoint Development has broken ground on the first phase of Spartan Enterprise Park, a 310-acre industrial park in Spartanburg that will span nearly 3.3 million square feet upon completion. Phase I comprises two buildings spanning more than 1.3 million square feet, and future phases can accommodate an additional 1.9 million square feet of space. The Colliers team of Garrett Scott, Brockton Hall and Dillon Swayngim helped facilitate the land purchase and will handle all leasing for the park on behalf of NorthPoint. Preleasing for Building One and Building Two is underway, and completion is expected for fourth-quarter 2023. Spartan Enterprise Park is located at 2116 U.S. Highway 221/Chesnee Highway, which is less than one mile from I-85, four miles from downtown Spartanburg and approximately 20 miles from Inland Port Greer, Greenville-Spartanburg International Airport and BMW’s regional manufacturing plant.
HOUSTON — Marcus & Millichap has arranged the sale of Easy Self Storage, a 236-unit facility located along State Highway 249 in northwest Houston. The five-building property was built in 1984 and spans 29,716 net rentable square feet across 172 non-climate-controlled units and 64 climate-controlled units. Dave Knobler of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a limited liability company, in the transaction. Both parties requested anonymity.
LOCUST GROVE, GA. — Cushman & Wakefield has arranged a 1 million-square-foot lease for an undisclosed transport and logistics company at Gardner Logistics Park, a three-phase industrial project in Locust Grove, approximately 40 miles southeast of Atlanta. James Phillpott, Helen Cauthen, Lisa Pittman and Ray Stache of Cushman & Wakefield represented the landlord, Scannell Properties, for the lease deal. The tenant will occupy most of Building 1, which totals more than 1.4 million square feet and is scheduled for completion in late 2023. Building 1 is the final building to be constructed at the project, for which Cushman & Wakefield is overseeing all leasing efforts.
BAY SHORE, N.Y. — New York City-based investment and development firm Rockefeller Group is nearing completion of a 172,622-square-foot speculative industrial project located at 55 Paradise Lane in the Long Island community of Bay Shore. Building features include a clear height of 36 feet, 40 dock doors, two overhead doors and parking for 270 vehicles. Completion is slated for spring 2023. KSS Architects designed the project, and Aurora Contractors is serving as the general contractor. Huntington is the civil engineer. JLL has been tapped to lease the development.
LYNDHURST, N.J. — Woodmont Industrial Partners, a joint venture between local investment firm Woodmont Properties and Romark Logistics, has purchased a 30,000-square-foot warehouse and distribution center in Lyndhurst. Located at 2 Terminal Road in the northern part of the Garden State, the building features a clear height of 18 feet, two loading docks and two drive-in doors. The seller and sales price were not disclosed.
JOLIET, ILL. — Peak Construction Corp. is underway on a 1 million-square-foot speculative building at NorthPoint Development’s Third Coast Logistics Park in Joliet. The facility will feature a clear height of 40 feet, 103 dock doors, four drive-in doors and 264 trailer parking stalls. Peak will also construct a second speculative building at the industrial park. Plans call for a 1.2 million-square-foot facility with a clear height of 40 feet, 120 dock doors, four drive-in doors and 247 trailer parking stalls. Completion of both buildings is slated for fall 2023. The project team includes architect studioNorth Architecture and civil engineer Jacob & Hefner Associates.
SHAKOPEE, MINN. — The Opus Group has broken ground on River Valley Business Park in Shakopee, a southwest suburb of Minneapolis. The speculative project will include a 150,000-square-foot building and a 300,000-square-foot building on 51 acres. The smaller facility will feature 42 dock doors, up to 214 auto parking stalls and a clear height of 28 feet. The larger building will include 74 dock doors, up to 413 auto parking stalls and a clear height of 32 feet. Completion is slated for late 2023. Opus is the developer, design-builder, architect and structural engineer for the project. Kris Smeltzer and Danny McNamara of Cushman & Wakefield will market the development for lease.