SIDNEY, OHIO — SEMCORP Advanced Materials Group has unveiled plans to invest $916 million for a new manufacturing facility in Sidney, about 35 miles north of Dayton. The facility, which is expected to create nearly 1,200 jobs, will be utilized to make separator film, a key component in batteries for electric vehicles. SEMCORP’s products will be used by electric vehicle battery makers across North America. The Sidney project will be located at Sidney Ohio Industrial Park and will span 850,000 square feet. A timeline for completion was not released. The City of Sidney provided incentives for the project, but specific details were not provided. According to a news release, China-based SEMCORP is currently the largest lithium-ion battery separator film producer in the world with six manufacturing facilities.
Newmark Negotiates $103.5M Sale of QuantumScape-Occupied Industrial Building in San Jose, California
SAN JOSE, CALIF. — Newmark has arranged the sale of 1710 Automation Parkway, an industrial property located in San Jose. The asset traded for $103.5 million. The names of the seller and buyer were not released. QuantumScape (NYSE: QS), a manufacturer of lithium batteries for electric cars, fully occupies the 196,647-square-foot building. The tenant and former owner made significant improvements to the property to create a state-of-the-art battery development facility. Steven Golubchik, Nicholas Bicardo, Jonathan Schaefler and Darren Hollak of Newmark facilitated the transaction.
LOS ANGELES — Boston-based Longpoint Realty Partners has purchased a 13.4-acre industrial park, including five buildings and two vacant land parcels, near the Van Nuys Airport in Los Angeles. A private ownership group sold the property for $85 million. Totaling 95,600 square feet and originally constructed in 1960s and 1970s, the properties are: a 12,000-square-foot restaurant building at 16320 Raymer St. a 14,700-square-foot industrial property at 16300-16310 Raymer St. a 33,000-square-foot industrial facility at 16251 Raymer St. a 20,000-square-foot industrial asset at 16201 Raymer St. a 15,900-square-foot industrial property at 16161 Raymer St. a 2.5-acre land parcel at 16141 Raymer St. a 1.4-acre land parcel at 8085 Woodley Ave. Jeff Chiate, Rick Ellison, Mike Adey, Brad Brandenburg and Matthew Leupold of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the transaction. Erik Larson, Robin Dodson and Paul Sims of Cushman & Wakefield provided local market advisory for the deal. JLL Capital Markets recently arranged $52 million in acquisition financing for the buyer.
VISTA, CALIF. — JLL Capital Markets has secured $27.4 million in financing for the acquisition and repositioning of 2065 Thibodo Road, an industrial property in Vista. The borrower is a joint venture between Lincoln Property Co. and Angelo Gordon. The new owner plans to convert the existing 76,872-square-foot property, which is situated on 4.1. acres, into manufacturing space that meets Current Good Manufacturing Practices for life sciences users. The property features 149 parking stalls, five grade-level doors, 28-foot clear heights and 8,000 amps of power. Aldon Cole, Jordan Angel, Daniel Pinus and Auden Menke of JLL Capital Markets arranged the three-year, floating-rate loan through Citizens. Additionally, Joe Anderson of JLL brokered the sale from the previous owner and currently represents the borrower in its efforts to lease the building.
COLORADO SPRINGS, COLO. — Pinnacle Real Estate Advisors has negotiated the sale of a 50,000-square-foot industrial building located at 980 Elkton Drive in Colorado Springs. The property traded for $6.9 million. The names of the seller and buyer were not released. Cody Stambaugh of The Morgan Stambaugh Group and Peter Sengelmann of The Diesch Sengelmann Team, both of Pinnacle Real Estate Advisors, represented the seller in the transaction.
ANNA, TEXAS — PC5 Properties, a holding company of HOLT CAT, an authorized dealer of products by construction machinery manufacturer Caterpillar, has acquired Anna Business Park. The 82-acre industrial development is located about 60 miles north of Dallas. Located at the northeast corner of the Collin County Outer Loop and State Highway 5, the site can support more than 3 million square feet of industrial development. The Anna Economic Development Corp. and the Anna Community Development Corp. sold the property for an undisclosed price.
HOUSTON — Locally based developer Avera Cos. has broken ground on a 120,022-square-foot industrial project that will be located on an 8.2-acre site in north Houston. The building will be the fourth within Avera’s Century Plaza Distribution Center and will feature 32-foot clear heights, 195-foot truck court depths and an ESFR sprinkler system. Construction is scheduled for a second-quarter 2023 completion. CBRE will lease the building.
ELIZABETH, N.J. — Elberon Development Group has completed a 140,000-square-foot cold storage facility in the Northern New Jersey city of Elizabeth that is a build-to-suit for New Jersey-based FreezPak Logistics. The facility features clear heights of 66 to 80 feet, 18 loading docks and 30,000 pallet positions. Trailer parking is available both on site and across the street. California-based Ware Malcomb designed the project, with Industrial Building Group serving as the general contractor.
NEW BALTIMORE, MICH. — Dominion Real Estate Advisors has brokered the sale of a 14,500-square-foot industrial building in New Baltimore, about 37 miles northeast of Detroit. The sales price was undisclosed. The property, located at 51528 Industrial Drive, previously served as the corporate home of Flood and Fire Solutions Inc. Andrew Boncore of Dominion represented the seller, 2CM Investments LLC. Mathew Cole of L. Mason Capitani CORFAC International represented the buyer, Jennifer Bethany LLC, which will use the facility to expand its health and beauty skincare products business.
MISSION, TEXAS — Locally based firm Killam Development has broken ground on Sharyland Business Park, a 175-acre industrial development located in the Rio Grande Valley city of Mission. The development comprises 15 parcels and could span up to 3 million square feet of industrial space across an undetermined number of buildings. Sharyland Business Park will be located within a larger master-planned community that extends into nearby McAllen and will house residential and commercial uses, as well as parks and hiking trails.