HOUSTON — Colliers has negotiated a 127,046-square-foot, full-building industrial lease at 2425 Turning Basin Drive in East Houston. The property features 23-foot clear heights, 12 dock-high doors and 20,292 square feet of office space. John Nicholson, Zack Taylor and Trey Horne of Colliers represented the landlord, Macey Family Properties, in the lease negotiations. John Garza of Windsor Hill Real Estate Group represented the tenant, an entity doing business as LTR Intermediate Holdings Inc.
FRESNO, CALIF. — STAG Industrial has acquired a 233,840-square-foot industrial facility, located at 2624 E. Edgar Ave. in Fresno. Caro Nut, a producer of nuts and nut butters for blue-chip retail customers such as Costco and Hormel, sold the asset for $30 million in a sale-leaseback transaction. The asset is a single-tenant nut processing facility operated by Caro Nut Co., which processes and packages a variety of nuts sourced from around the world and turns them into dry roasted, oil roasted or pasteurized raw snacking nuts; nut butters; and ingredients for major brands, private labels and industrial manufacturers. The facility features 24- to 26-foot clear heights, 44- by 48-foot column spacing, 10 dock-high doors, four grade-level doors, a paved and fenced yard and ESFR sprinklers. Jordan Alleva and Carter Lear of Newmark represented the seller in the deal.
DENVER — Pinnacle Real Estate Advisors has arranged the sale of an industrial property located at 3625 E. 48th Ave. in Denver. The 62,114-square-foot building traded for $6.1 million. The names of the seller and buyer were not released. Dallas Sandberg of Pinnacle’s Johnson Ritter Team assisted the buyer and seller in the deal.
FORNEY, TEXAS — A partnership between Holt Lunsford Commercial Investments (HLCI) and Principal Real Estate Investors will develop Gateway Crossing Logistics Park, an approximately 1.7 million-square-foot industrial project that will be located in the eastern Dallas suburb of Forney. The development will consist of three buildings ranging in size from roughly 1 million to 265,000 square feet on a 127-acre site along State Highway 80. Building features will include 36- to 40-foot clear heights, 185-foot truck court depths, built-to-suit office space and ample car and trailer parking. Construction is slated to begin within the month and to be complete in late 2023. Holt Lunsford’s leasing division will market the property.
FORT WORTH, TEXAS — GXO Logistics has signed a 644,318-square-foot industrial lease at Everman Crossroads, a 954,611-square-foot development in Fort Worth that is owned by Atlanta-based MDH Partners. The third-party logistics firm will occupy the entirety of Building 2. Pet products supplier Purina occupies the 310,292-square-foot Building 1. Scott Moore and Steve Koldyke of CBRE represented the landlord in the lease negotiations. Allen Gump and Allyson Yost of Colliers represented the tenant.
PASSAIC, N.J. — Seven Hills Realty Trust (NASDAQ: SEVN), an affiliate of The RMR Group, has provided a $47 million acquisition loan for a 330,000-square-foot industrial property located at 153 Linden St. in the Northern New Jersey community of Passaic. JLL arranged the financing on behalf of the borrower, Thor Equities, which will use a portion of the proceeds to fund capital improvements.
OAK CREEK, WIS. — Thrive Foods, a manufacturer of freeze-dried products, has signed a 340,623-square-foot industrial lease at 9141 S. 13th St. in Oak Creek, just south of Milwaukee. The newly completed building, which is a build-to-suit manufacturing facility for Thrive, features LED lighting, 40 loading docks and 50 trailer parking stalls. Stephen Provancher of Newmark represented the tenant, while John Schlueter of Frontline Commercial Real Estate represented the undisclosed landlord.
KENOSHA, WIS. — Colliers Wisconsin has brokered the sale of a portfolio of eight light industrial buildings totaling 277,982 square feet in Kenosha for $33.2 million. The properties, constructed in phases between 1995 and 2007, are situated within the Business Park of Kenosha. The portfolio was 97 percent leased by 43 tenants at the time of sale. Some of the tenants include Sherwin-Williams, Fastenal, First Supply and Viking Electric. Tom Shepherd and Jennifer Huber-Bullock of Colliers represented the seller, an affiliate of Zilber Ltd. An Elmhurst, Ill.-based private buyer purchased the portfolio.
ITASCA, ILL. — Bulldog Cartage, a storage, staging and shipping company, has signed a 78,161-square-foot industrial lease at 1549 Glenlake Ave. in Itasca. Mike Antonelli and Dan Brown of Brown Commercial Group represented the tenant. John D’Orazio and Jonathan Kohn of Colliers represented the undisclosed landlord. Earlier this year, Brown Commercial Group negotiated a 37,819-square-foot lease for Bulldog Cartage in Addison, Ill.
MEMPHIS, TENN. — Westmount Realty Capital has purchased Shelby Oaks Corporate Park, a portfolio of office/showroom and distribution facilities in Memphis totaling 480,911 square feet. Shelby Oaks is Westmount’s first purchase in Memphis and second acquisition in Tennessee. The seller and sales price were not disclosed. The corporate park is located one mile away from the I-240/I-40 interchange and near downtown Memphis and Memphis International Airport. Situated within a 640-acre wooded area that includes three lakes and a jogging trail, Shelby Oaks was built in several phases between 1979 and 2005 and was 95 percent leased at the time of sale to 78 tenants. The portfolio includes a total of 16 buildings: four distribution buildings with drive-in and dock doors and 12 office/showrooms. Buildings range from 12,000 to 90,000 square feet and are home to a variety of industries like telecommunications, medical, service and manufacturing companies.