DETROIT — LM Manufacturing, a joint venture between automotive suppliers Magna and LAN Manufacturing, has leased 296,000 square feet of manufacturing space in Detroit’s Delray neighborhood. The tenant is leasing space within the former Sakthi Industrial Campus, which Bedrock acquired in September 2020. The campus includes roughly 529,000 square feet of industrial space, 89,000 square feet of office space and 10 acres of developable land. LM Manufacturing’s lease will commence in May.
DALLAS — Atlanta-based developer Robinson Weeks Partners has begun construction on I-20 Dallas Crossing, a 410,102-square-foot speculative industrial project in South Dallas. The cross-dock facility will be situated on a 30-acre site and will feature 36-foot clear heights, 78 dock doors, 224 parking spaces, 80 trailer storage spaces and office space. Completion is slated for the fourth quarter. Robinson Weeks has tapped JLL to market the property for lease.
OKLAHOMA CITY — Kroger (NYSE: KR) will open a 50,000-square-foot distribution center at 8801 N. Interstate 35 Service Road in Oklahoma City. The cross-dock facility, which is expected to come on line later this year and to employ up to 191 full-time associates, will serve as a last-mile, or “spoke,” distribution point for customers within a 200-mile radius. This territory includes Dallas, where Kroger and its partner in rolling out spoke facilities, United Kingdom-based logistics firm Ocado Group, have also launched a 350,000-square-foot fulfillment center.
FRANKLIN, MASS. — Colliers has negotiated an 81,293-square-foot industrial sublease in Franklin, located southeast of Boston in Norfolk County. Stephen Woelfel, Kevin Brawley, P.J. Foster, John Real and Glenne Bachman of Colliers represented the original tenant, medical device manufacturer Tegra Medical, in the lease negotiations. Tim Lahey, Perry Beal and John Lashar of CBRE represented the sublessee, biopharmaceutical company Lyndra Therapeutics.
KANSAS CITY, MO. AND MINNEAPOLIS — Arch Street Capital Advisors LLC has acquired two recently completed industrial assets totaling 2 million square feet in metro Kansas City and Minneapolis for an undisclosed price. The single-tenant, build-to-suit facilities serve as distribution space for an e-commerce company. Arch, on behalf of one of its institutional capital partners, provided preferred equity construction financing and a forward commitment to acquire the assets upon completion.
GROVE CITY, OHIO — In a joint venture with Trident Capital Group, Invesco Real Estate Income Trust Inc. (INREIT) has purchased a 95 percent interest in an industrial building in the Columbus suburb of Grove City. Built in 2000, the fully leased property spans 378,283 square feet. The transaction marks INREIT’s fourth industrial investment. INREIT acquired the property in conjunction with the purchase of a shopping center in New York for a combined price of $94 million. The seller was undisclosed.
RED LAKE FALLS, MINN. — Altoz Inc. is expanding its manufacturing space in Red Lake Falls, a city in northwest Minnesota. The outdoor power equipment company will add a new 62,500-square-foot facility, which is slated for completion by this fall. The development marks the first phase of a multi-phase expansion project, which will bring the company’s combined space to more than 400,000 square feet between Red Lake Falls and Greenbush. The new facility will accommodate state-of-the-art metal fabrication equipment.
PHOENIX — DWG Capital Partners has purchased an industrial facility, located at 3420 W. Catalina Drive in Phoenix, for an undisclosed price. The sale-leaseback deal includes a new, 15-year, triple-net lease with the seller, Rembrandt Stone Masters. The stone fabrication company occupies the 29,600-square-foot property, which is situated on 1.7 acres. Founded in 1996, the company operates a state-of-the-art facility with leading-edge CNC machinery and technology supported by a team of craftsmen and artisans. Dugan Kelley of Kelley Clarke PC represented the buyer, while Steve Lowe and Oscar Lopez of Matthews Real Estate represented the seller in the transaction. WaFd Bank provided acquisition financing, which Jim McCann arranged.
TAMPA, FLA. — Stonemont Financial Group has plans to develop two industrial projects in the Tampa area comprising two warehouses in Tampa and four warehouses in Lakeland. The two projects will total 1.3 million square feet. JLL is overseeing leasing. Frampton Construction is the general contractor for both projects. In Tampa, Stonemont will break ground this spring on Sunlake Business Center, which will encompass two speculative rear-load facilities located along State Road 54. Building 1 will total 190,000 square feet and will feature 32-foot clear heights and 309 parking spots. Building 2 will be a 171,000-square-foot building with 32-foot clear heights and 231 parking stalls. The two facilities are designed to accommodate a range of user types and sizes. In Lakeland, Stonemont is also underway on Lakeland Commerce Center at County Line, an industrial park that will include a 148,100-square-foot building; 150,600-square-foot rear-load facility; 258,000-square-foot rear-load facility; and a 348,740-square-foot cross-dock facility situated on the Interstate 4 corridor just over 30 miles outside of Tampa. The development will include clear heights ranging from 32 to 36 feet, a total of 254 dock doors, 840 parking spaces and 450 trailer parking stalls available onsite.
SAN ANTONIO — Triten Real Estate Partners, a developer with offices in Houston and Dallas, will build Connection Park Logistics Center, a 490,083-square-foot industrial project that will be located on the east side of San Antonio. The site, which spans 32 acres at 6851 Cal Turner Drive, will offer proximity to Interstate 10 and Loop 410, as well as the industrial facilities of major users like Amazon, Dollar General and H-E-B. Construction of the Class A, cross-dock building is scheduled to begin by the end of the first quarter and to be complete by the end of the year.