MCDONOUGH, GA. — JLL Capital Markets has arranged the sale of a fully leased bulk distribution facility totaling 1.1 million square feet within PNK Park Southern Gateway at Lambert Farms in McDonough, about 30.5 miles south of Atlanta. Britton Burdette, Matt Wirth, Dennis Mitchell and Mitchell Townsend of JLL represented the seller, PNK Group. KKR via the KKR Real Estate Select Trust Inc. acquired the property for an undisclosed price. The distribution facility is part of the 260-acre PNK Park Southern Gateway at Lambert Farms. The industrial park is situated about 25 miles south of Hartsfield-Jackson Atlanta International Airport. The property features walking and biking trails, electric vehicle charging stations, two food truck courts with seating areas and two points of access to Interstate 75. The building was 100 percent triple-net-leased at the time of sale to two tenants, a publicly traded direct-to-consumer mattress company and a logistics and supply chain company. Completed in 2020, the cross-dock building features 40-foot clear heights, LED lighting, ESFR fire protection and two 190-foot truck courts.
Industrial
FARGO, N.D. — Amazon has opened its first fulfillment center in the state of North Dakota. The more than 1 million-square-foot facility opened on Sunday, Sept. 19 in Fargo and is expected to create more than 1,000 full-time jobs. Associates pick, pack and ship bulky or large-sized items such as patio furniture, outdoor equipment and rugs. Amazon also operates a delivery station in West Fargo.
MICHIGAN AND OHIO — SpareBox Storage has acquired 28 self-storage properties in Michigan and Ohio for an undisclosed price. The acquisition marks the addition of 1.9 million net rentable square feet to SpareBox’s portfolio and is the largest purchase for the company to date. SpareBox’s portfolio now includes 91 facilities and 5.6 million square feet of rentable space. Launched in 2020, SpareBox is sponsored by Rizk Ventures, an investment platform with a focus on real estate, technology and healthcare. Aaron Swerdlin and Kenneth Cox of Newmark’s self-storage group represented the undisclosed seller in the transaction.
JANESVILLE, WIS. — Zilber Property Group has purchased an industrial portfolio spanning four buildings and 525,000 square feet in southern Wisconsin’s Janesville. The purchase price and seller were not disclosed. Ranging in size from 45,000 square feet to 250,000 square feet, the buildings are fully occupied by Cummins Inc., Pepsi, National Food Distributors and Panoramic. The properties are located at 101 W. Venture Drive, 505 S. Wuthering Hills Drive, 1700 E. Delavan Drive and 525 E. Conde St.
ELK GROVE VILLAGE, ILL. — JC Watson Packing Co. has signed a 68,021-square-foot industrial lease in suburban Chicago’s Elk Grove Village. Headquartered in southwest Idaho, the tenant focuses on packing, selling and distributing onions. The rail-served facility will enable the company to expand its footprint in the Midwest as well as its distribution channels to the East Coast. Sam Deihs of Entre Commercial Realty represented JC Watson in the lease transaction. Hamilton Partners represented the undisclosed landlord.
BAYTOWN, TEXAS — TGS Cedar Port Partners, a division of Trans-Global Solutions Inc., has broken ground on a 1.2 million-square-foot speculative industrial project within Cedar Port Industrial Park, a 15,000-acre master-planned development located near Port Houston in Baytown. Building features will include 40-foot clear heights, oversized truck courts, an ESFR sprinkler system and more than 1,000 trailer parking stalls and 1,500 car parking spaces. In addition, the property will offer office space that can be built to suit tenants’ specific needs. Powers Brown Architecture is designing the project, and E.E. Reed Construction is serving as the general contractor. Bank of Texas provided construction financing, and NAI Partners is the leasing agent. Completion is slated for the second quarter of next year.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Chapel Creek Storage, a 356-unit self-storage facility in Fort Worth. The property spans 56,650 net rentable square feet. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a locally based private partnership, in the transaction. The duo also procured the buyer, Dallas-based Montfort Capital.
NEW HAVEN, IND. — Sauder Woodworking Co. has signed a 100,000-square-foot industrial lease at Building B within Cedar Oak Industrial Park in New Haven, just east of Fort Wayne. Located at 10651 Rose Ave., the building is the final space to be leased within the industrial park. Bill Drinkall and Brook Steed of Bradley Co. represented ownership in the lease transaction. Sauder is a producer of ready-to-assemble furniture and plans to bring 50 new jobs to New Haven.
CBRE Global Investors, Trammell Crow to Develop 606,343 SF Logistics Facility in Northern California
by Amy Works
TRACY, CALIF. — CBRE Global Investors has purchased a 29.3-acre site located at 1205 E. Grant Line Road in Tracy for the development of a logistics center. The investment firm will partner with Trammell Crow Co. to develop the 606,343-square-foot facility. Construction is slated to begin in early 2022, with completion scheduled for first quarter 2023. The distribution facility will feature 40-foot clear heights, 185-foot truck courts, 56-foot by 60-foot column spacing, LED and sky lighting and an ESFR sprinkler system. HPA is serving as architect of record and Big-D Construction is the general contractor.
US Capital Development Breaks Ground on 599,468 SF Spec Industrial Project in Glendale, Arizona
by Amy Works
GLENDALE, ARIZ. — St. Louis, Mo.-based US Capital Development has broken ground on its first development in Arizona. The first phase of Falcon Park 303 will comprise a 599,468-square-foot speculative industrial building on 36.7 acres along Camelback Road at 152nd Avenue in Glendale. The building will feature 40-foot clear heights, 92 dock-height loading doors and four drive-in loading doors. The building, which is divisible by half, is slated for completion by August 2022. The project team includes Willmeng Construction, Gray Design Group and Hilgart Wilson. Andy Markham, Mike Haenel and Phil Haenel of Cushman & Wakefield are handling leasing for the development.