Industrial

Corona Investments Sells Distribution Property in California for $15.3M

by Amy Works March 15, 2022

CORONA, CALIF. — Voit Real Estate Services has arranged the sale of an industrial facility located at 2395 Railroad St. in Corona. Corona Investments sold the property to Colorado-based EverWest Real Estate Investors for $15.3 million, or $319.62 per square foot. EverWest Real Estate Investors plans to stabilize the 47,870-square-foot property and hold it as a long-term leased investment. Constructed in 1988, the concrete tilt-up building features 24-foot minimum warehouse clearance, a 0.33 GPM/3,000 square feet sprinkler system, four grade-level doors, two dock-high loading positions and a secured truck court and yard area. Michael Hefner of Voit’s Anaheim office represented the seller and buyer in the deal.

March 15, 2022

Development Industrial Texas

Hunt Southwest to Develop 1 MSF Spec Industrial Project in West Houston

by Taylor Williams March 14, 2022

HOUSTON — Dallas-based Hunt Southwest will develop I-10 West Trade Center, a 1 million-square-foot speculative industrial project in West Houston. The cross-dock facility will be situated on a 68-acre site near the junction of Interstate 10 and Woods Road. Building features will include 40-foot clear heights, 206 dock-high doors, 190-foot truck court depths, an ESFR sprinkler system and parking for 330 trucks and 354 cars. Construction is scheduled to begin by the end of the month and to be complete by early 2023. CBRE will handle leasing of the property. The announcement follows Hunt Southwest’s execution of a full-building industrial lease with Walmart at the 1 million-square-foot Cedar Port Trade Center near Port Houston.

March 14, 2022

Data Centers Development Industrial Texas

Skybox, Prologis to Develop 141,240 SF Data Center in Metro Austin

by Taylor Williams March 14, 2022

PFLUGERVILLE, TEXAS — Developer and operator Skybox Datacenters, in partnership with San Francisco-based industrial giant Prologis, will construct a 141,240-square-foot data center in the northern Austin suburb of Pflugerville. The facility, known as Skybox Austin I, will have the capacity to produce up to 30 megawatts of power. Construction is scheduled to begin in May, with delivery of the first data hall slated for March 2023.

March 14, 2022

Development Industrial Texas

Hopewell Development Acquires 33 Acres in Irving for Industrial Project

by Taylor Williams March 14, 2022

IRVING, TEXAS — Canadian firm Hopewell Development LP has acquired 33 acres at 2451 S. Belt Line Road in Irving for the development of an industrial project. The square footage and prospective construction timeline for the project were not disclosed. Alex Wilson, Nathan Denton and Reid Bassinger of Lee & Associates represented Hopewell Development in its acquisition of the land.

March 14, 2022

Acquisitions Industrial NAI Texas

NAI Partners Arranges Sale of 39,445 SF Warehouse in Houston

by Taylor Williams March 14, 2022

HOUSTON — NAI Partners has arranged the sale of a 39,445-square-foot warehouse located at 5606 Harvey Wilson Drive in Houston’s Second Ward. According to LoopNet Inc., the property was originally built in 1955 and features 10- to 14-foot clear heights. Chris Kugle of NAI Partners represented the seller in the deal, and Steven O’Connor of PrinGroup Commercial represented the buyer. Both parties were limited liability companies.

March 14, 2022

Acquisitions Florida Industrial North Carolina Southeast Tennessee

Atlanta Property Group Acquires Three Industrial Facilities Totaling 545,000 SF Across Southeast

by Julia Sanders March 14, 2022

ATLANTA — Atlanta Property Group has acquired three distribution facilities in the metro areas of Atlanta, Nashville and Charlotte totaling 545,000 square feet. The sellers and sales price were not disclosed. The three properties include Oates Crossing in Mooresville, N.C.; 5470 Oakbrook Parkway in Norcross, Ga.; and 109 Kirby Drive in Portland, Tenn. Oates Crossing is a 240,000-square-foot industrial park that is fully leased to a diverse tenant base. The site also includes a fully zoned, 8.3-acre parcel that can support an additional 60,000-square-foot industrial building, which Atlanta Property Group plans to build soon. The property is situated along Interstate 77, about 29.7 miles north of Charlotte. The next property, 5470 Oakbrook Parkway, is an 85,000-square-foot shallow-bay industrial building. The facility is situated close to Interstate 85 and is about 21 miles north of downtown Atlanta. The property was 88 percent leased at the time of sale. Built in 1990, 109 Kirby Drive is a 220,000-square-foot, single-tenant warehouse that features 17 dock doors. The fully leased property is situated about 39.7 miles from Nashville and has immediate access to Interstate 65.

March 14, 2022

Acquisitions Industrial New Jersey Northeast

Sitex Group Acquires 210,000 SF Warehouse in North Bergen, New Jersey

by Taylor Williams March 14, 2022

NORTH BERGEN, N.J. — New Jersey-based private equity real estate firm Sitex Group has acquired a 210,000-square-foot warehouse in North Bergen, located across the Hudson River from Manhattan. The building, which sits on 7.3 acres and features a clear height of 22 feet and 20 loading docks, was fully leased at the time of sale. Bill Connors of The William Connors Agency brokered the deal, the seller in which was undisclosed. Sitex Group plans to implement a value-add program.

March 14, 2022

Acquisitions California Industrial Western

Transwestern Sells 202,421 SF Amazon-Leased Distribution Center in Moorpark, California

by Amy Works March 14, 2022

MOORPARK, CALIF. — Transwestern Development Co. (TDC) has completed the disposition of 6000 Conor Drive, a distribution center in Moorpark, along with a two-acre parcel offering additional parking. An undisclosed buyer acquired the property for $50.7 million. At the time of sale, Amazon occupied the 202,421-square-foot facility, which is near U.S. Route 101 and California State Routes 118 and 23. TDC recently completed interior and exterior upgrades to the property. Barbara Perrier, Darla Longo and Bennett Robinson of CBRE represented TDC in the transaction. Transwestern Real Estate Services provided asset services for the property.

March 14, 2022

Industrial Loans New York Northeast

Emerald Creek Provides $14.1M Acquisition Loan for Industrial Property in Upstate New York

by Taylor Williams March 14, 2022

ROCHESTER, N.Y. — New York City-based bridge lender Emerald Creek Capital has provided a $14.1 million acquisition loan for a 111,741-square-foot warehouse and distribution building in the upstate New York city of Rochester. The property sits on a 10.4-acre site within Rochester Technology Park and is net leased to FedEx. Mike Cleaver and Matt Fantuzzi of Emerald Creek Capital originated the financing. The borrower was not disclosed.

March 14, 2022

Development Industrial Midwest Missouri

Vault Partners Breaks Ground on 75,000 SF Industrial Flex Building in Wentzville, Missouri

by Kristin Harlow March 14, 2022

WENTZVILLE, MO. — Houston-based developer Vault Partners has broken ground on Corporate Parkway Business Center in Wentzville, a western suburb of St. Louis. The 75,000-square-foot industrial flex building will feature a clear height of 24 feet and a rear truck court. Completion of the speculative property is slated for the fourth quarter of this year. Dial Architects designed the project. Joe Schneider and Keith Schneider of Cushman & Wakefield will market the property for lease. The project marks Vault’s first development in the St. Louis market.

March 14, 2022

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