COLUMBUS, OHIO — Simi Capital has sold a 15-acre industrial property located on Stelzer Road in Columbus for $6.1 million. The institutional buyer plans to continue utilizing the property for industrial parking. Shortly after acquisition of the site, Simi secured the property’s entitlement for industrial use and arranged a long-term lease with CMH Parking and Repair. Simi paid $4.2 million for the site. Ryan Crossley of Kooperman Mentel Ferguson Yaross served as legal representation for Simi. Alex Marsh of The Robert Weiler Co. brokered the sale.
PENDERGRASS, GA. — Trammell Crow Co., in a partnership with CBRE Global Investors on behalf of one of its investment funds, has acquired a 287-acre development site in Pendergrass. The seller and sales price were not disclosed. At the site, the firms plan to build a 2.3 million-square-foot, Class A logistics center known as Jackson 85 North Business Park. Located in the metro Atlanta area along Interstate 85 in Jackson County, Jackson 85 North Business Park is located approximately 60 miles northeast of Atlanta and will be developed in two phases. Wilson Hull & Neal Real Estate will handle leasing for the project. Construction on Phase I is expected to begin in December with completion during the second half of 2022. Phase I will include a 538,450-square-foot cross-dock facility and a 1 million-square-foot cross-dock facility. Phase II will include a single 713,050-square-foot cross-dock facility. The construction timeline for Phase II was not disclosed. All three buildings will feature 185- to 190-foot deep concrete exterior truck courts, 40-foot clear heights and ESFR fire sprinklers.
HOUSTON — Trammell Crow Co. (TCC) has broken ground on Phase I of Weiser Business Park, a speculative industrial redevelopment project located at the site of a former airport in northwest Houston. The first phase of the 130-acre development will center on the delivery of three buildings totaling 557,490 square feet. The first and smallest building will feature 28-foot clear heights and 128 vehicle parking spaces. The second and third buildings will both span more than 200,000 square feet and offer 32-foot clear heights while also having nearly 500 combined parking spaces. Completion of Phase I is scheduled for the second quarter of 2022. TCC has tapped Lee & Associates to lease the buildings. Construction of a fourth building that will span approximately 520,000 square feet and have 36-foot clear heights is set to begin early next year.
HOUSTON — Newmark has negotiated a 181,067-square-foot industrial lease extension at Building 11 within Central Green Business Park in Houston. John Luck, Griffin Rich, Chris Mason, John Beach, Reggie Beavan III, Andy Iversen, Joshua Brown and Trace Elrod of Newmark represented the tenant, GAC Energy & Marine Services, in the lease negotiations. Liberty Property Co. owns the facility.
SAN ANTONIO — JLL has brokered the sale-leaseback of a 166,000-square-foot industrial facility located at 5003 Stout Drive on San Antonio’s east side. The property was built in 1985 and renovated in 2019. Building features include 22.5-foot clear heights, 93 parking stalls and a 21 percent office finish. Dustin Volz, Stephen Bailey, Dom Espinosa, Joshua Villarreal and Matthew Barge of JLL represented the seller and occupant, graphic design and custom manufacturing firm Comet Signs, in the transaction. The buyer/landlord was not disclosed.
LAS VEGAS — DXD Capital has broken ground on a self-storage facility located on a 1.7-acre parcel at the corner of West Sahara Avenue and South Monte Cristo Way in Las Vegas. Designed by Studio Level I with Arco Murray serving as general contractor, the new property will feature 1,100 units, plus two interior loading bays with room for three trucks in a fully climate-controlled building with two freight elevators and a storefront with moving supplies. Public Storage will operate the facility, which is slated to open in third-quarter 2022. DXD acquired the property in January 2021 through its DXD Self Storage Fund I, which was launched in November 2020. The fund is raising $50 million to invest in ground-up development of Class A, multi-story, climate-controlled self-storage facilities.
NORTH HIGHLANDS, CALIF. — Exeter 4837 Watt LLC has acquired a flex industrial facility located at 4837 Watt Ave. in North Highlands. Stoneridge Watt Avenue LLC sold the asset for $12.4 million. Built in 1987 for Price Club, the property was renovated in 1997 for industrial and flex use. Situated on 12.8 acres, the 129,491-square-foot property is half a mile from Interstate 80. Alan Pekarcik and Chris Smith of Avison Young’s Irvine, Calif., office represented the buyer, while Cushman & Wakefield represented the seller in the deal.
TALLAHASSEE, FLA. — Seefried Industrial Properties has broken ground on a 2.8 million-square-foot fulfillment center in Tallahassee. The developer did not disclose the tenant, but the Tallahassee Democrat reported that the occupant will be Amazon. Dubbed “Project Mango,” the development will be situated on 118 acres near the Mahan Drive and I-10 interchange. Seefried says that the four-story project is record-breaking in terms of its size and functionality, and that it will feature cutting-edge material handling and product retrieval systems. Equipped with advanced robotics technology, the property will assist in efficient package delivery. The facility will feature 49 dock doors, 1,250 car parking spaces, 265 trailer spaces and 100,000 square feet of office and break room space. The fulfillment center is expected to generate 1,346 full-time jobs and an economic impact of $451 million, according to Seefried. The Conlan Co. is serving as general contractor. Completion is slated for the fourth quarter of 2022. Amazon also recently unveiled plans for a new fulfillment center in Port St. Lucie, Fla., along with five new delivery stations in the Sunshine State. The e-commerce giant currently operates more than 50 sites in Florida that support customer fulfillment and delivery operations. Atlanta-based Seefried is …
PHOENIX, ARIZ. — CapRock Partners has broken ground on CapRock West 202 Logistics, a 183-acre speculative industrial project in Phoenix. The eight-building, Class A industrial warehouse complex will total 3.4 million square feet. The project will be developed in two phases. Phase I will start in November 2021, with completion and delivery anticipated by the end of 2022. The first phase will include the first five buildings, totaling approximately 2.5 million square feet. The timeline for Phase II was not disclosed. Estimated development costs were also not released. The project will feature buildings ranging from 228,000 to 1.1 million square feet, with clear heights between 32-feet and 40-feet. All buildings will feature dock-high and ground-level loading with secured concrete truck courts. Each of the buildings are designed with varying depths and are divisible to accommodate multiple tenants. The project is the largest speculative industrial development in the history of Phoenix, according to CapRock. Bob O’Neill, senior vice president of acquisitions at CapRock Partners, said the CapRock West 202 Logistics project will be bigger than any other industrial project in Phoenix by more than 1 million square feet. “Phoenix is now the fifth largest municipality in the United States, and also …
CARROLLTON, TEXAS — NAI Robert Lynn has negotiated a 162,000-square-foot industrial lease expansion at 4717 Plano Parkway in the northern Dallas suburb of Carrollton. The deal essentially triples the Dallas-area footprint of the tenant, third-party logistics firm JB Hudco, to 240,000 square feet. Chad Albert of NAI Robert Lynn represented JB Hudco in the lease negotiations. George Billingsley represented the landlord, Billingsley Co., on an internal basis.